SSIA recorded consolidated revenue of Rp3,353.5 billion in 1H26, representing a strong 58.8% year-on-year increase from Rp2,111.9 billion in 1H25. Growth was primarily driven by substantial accounting sales recognition from the industrial estate business. The property segment recorded the highest growth, with revenue reaching Rp1,267.0 billion, up 274.1% YoY. The construction segment remained stable at Rp1,700.2 billion, compared with Rp1,700.5 billion in the same period last year. Meanwhile, the hospitality segment generated Rp471.1 billion, an increase of 118.6% YoY.
Supported by the strong performance of the property segment, SSIA recorded gross profit of Rp1,086.2 billion in 1H26. The property segment contributed Rp612.3 billion, reflecting a significant 315.4% YoY increase. The hospitality segment also delivered robust growth, with gross profit rising 159.2% YoY to Rp279.4 billion, while the construction segment recorded a 11.4% YoY increase to Rp204.8 billion.
SSIA successfully delivered margin expansion across all business segments through strong operational execution. Consolidated 1H26 EBITDA reached Rp692.5 billion, translating into an EBITDA margin of 20.7%, a significant improvement compared with Rp106.0 billion and an EBITDA margin of 5.0% in 1H25. The property segment led the improvement, achieving a 1H26 EBITDA margin of 42.9% compared with 14.5% in 1H25. The hospitality segment also returned to positive EBITDA territory in 1H26, posting an EBITDA margin of 9.7%, compared with a negative EBITDA margin in the previous year. This improvement was mainly driven by higher room nights and a stronger average room rate (ARR) at Paradisus by Meliá Bali, supported by its all-inclusive package offering. The construction segment also improved its 1H26 EBITDA margin to 8.2%, from 7.3% in 1H25.
SSIA recorded net profit of Rp262.6 billion in 1H26, supported primarily by the strong performance of the property segment. The property segment generated Rp459.3 billion in net profit, compared with Rp44.9 billion in 1H25. The construction segment also delivered solid growth, with 1H26 net profit increasing 21.1% YoYto Rp93.2 billion. Meanwhile, the hospitality segment recorded a net loss of Rp83.8 billion in 1H26, although this represented a 20.3% improvement compared with a net loss of Rp105.1 billion in 1H25.
The Company’s cash position in 1H26 was Rp1,093.0 billion, a decrease of 4.2% from Rp1,140.9 billion in 1Q26. This was mainly due to interest payments for the Paradisus by Meliá Bali renovation and land development costs.
Interest-bearing debt was Rp2,269.1 billion in 1H26, a 3.5% decrease from Rp2,350.6 billion in 1Q26. The 1H26 debt-to-equity (gearing) ratio was 26.8%.
SSIA’s property segment recorded revenue of Rp1,266.9 billion in 1H26, representing solid growth of 274.1% compared with last year. This outstanding performance was driven by strong accounting sales recognition totaling 64.7 ha, valued at Rp1,075.9 billion, from the Company’s flagship projects, Subang Smartpolitan and Suryacipta City of Karawang.
In 1H26, PT Suryacipta Swadaya (SCS) recorded industrial land marketing sales of 9.4 ha, valued at Rp195.9 billion. The slowdown in 1H26 was driven by geopolitical tensions in the Middle East, which delayed global companies’ foreign direct investment decisions.
SCS’s land sales backlog as of 1H26 stood at Rp84.3 billion, representing 4.1 ha of land.
PT Nusa Raya Cipta Tbk ("NRCA"), SSIA’s construction unit, reported consolidated revenue of Rp1,704.9 billion for 1H26, compared with Rp1,704.4 billion in 1H25. Despite steady revenue recognition in 1H26, NRCA successfully recorded 21.5% growth in net profit, amounting to Rp93.0 billion.
NRCA secured new contracts of Rp1,370.9 billion in 1H26, down 3.8% from Rp1,425.5 billion in 1H25.
The main projects obtained in 1H26 were Pou Chen Factory Pekalongan, Lampung City Mall Phase 2, New Malio Hotel Hayam Wuruk Jakarta, Saint Carolus Hospital Gading Serpong, Little Sun School Surabaya, Grha Baramulti Jakarta, Blue Coral Resort Gili Trawangan North Lombok, and Oakwood Jimbaran Villas & Residence Bali.
SSIA’s hospitality business unit generated revenue of Rp471.1 billion in 1H26, a 118.6% increase from last year’s figure. This was primarily driven by all-inclusive initiatives at Paradisus by Meliá Bali and higher ARR across all of the Company’s hotels in 1H26.
Gran Meliá Jakarta (GMJ) recorded an occupancy rate of 37.8% in 1H26, compared with 40.2% in 1H25. Meanwhile, the average room rate (ARR) increased to Rp1,461K in 1H26, up from Rp1,331K in 1H25. The lower occupancy rate was due to surging airline ticket prices and slightly lower MICE activity in 2Q26.
Umana Bali, LXR Hotels & Resorts (LXR), achieved an occupancy rate of 46.8% in 1H26, a slight decrease from 47.82% in 1H25, driven by low first-quarter occupancy before the pace improved in 2Q26. However, Umana Bali’s ARR also improved to Rp9,965K in 1H26, compared with Rp9,120K in 1H25.
Paradisus by Meliá Bali recorded a strong occupancy rate of 44.3% in 1H26; however, this figure does not reflect the full 492-room capacity from the beginning of the soft opening, as the hotel gradually increased room availability from February to May. In 1H26, Paradisus by Meliá Bali’s ARR reached Rp3,338K, surpassing the 2024 figure of Rp2,468K. The Company is targeting the all-inclusive package to contribute 50% of total guests by the end of the year.
BATIQA Hotels, comprising seven locations, recorded an occupancy rate of 71.0% and an ARR of Rp456,386 in 1H26. This compares with an ARR of Rp384,498 and an occupancy rate of 68.9% in 1H25. The improvement was mainly driven by an increase in long-stay guests at several BATIQA locations and a shift in travel budgets among local tourists from overseas travel to domestic travel.