Pt Mitra Adiperkasa Tbk · IDX:MAPI
Pt Mitra Adiperkasa Tbk — Q1 2022 Earnings Presentation
58 slides from Pt Mitra Adiperkasa Tbk's earnings presentation, Jun 1, 2022
Slide 1: Unaudited 1Q22 Results
SSS / ) / —— IFO = f-~" ——_ Result ited 1Q22 | Unaud 7a
Slide 2: Overview: The Way Ahead
OVERVIEW The Way Ahead MAP retail Sports, Fashion, Department stores, Digital Technology, F&B, Travel, Lifestyle & Convenience stores. Our diversified portfolio of brands are unified via our MAPCLUB APP which creates a new shopper dimension by conveying who shops where, when, why & how across the ar
Slide 3: People Centered Approach and P.E.O.P.L.E. values
People Centered Approach We put our customers, employees and the community at the heart of all our business decisions Empowerment We empower our people with authority. We believe that To be the leading delegation of power and autonomy promoted contribution, omni-channel retailer We are a accountabil
Slide 4: MAP is Shopping for Everyone from dawn to dusk
MAP is SHOPPING FOR EVERYONE from dawn to dusk 4
Slide 5: Milestones
MILESTONES 1995 1997 2002 2003 2004 • Incorporation • Foray into Kids • Diversified into Food & • Ventured into • IPO of MAP (Listed on Started with Sports products (toys & Beverage with Department Stores Indonesia Stock Exchange) before venturing apparel) Starbucks Coffee into Fashion and • Started
Slide 6: Milestones
MILESTONES 2014 2015 2016 2017 • Most Powerful & Valuable Company in • Most Admired Companies • Launch of MAPEMALL.com • IPO of MBA (MAP Boga) Indonesia (Retail) – Warta Ekonomi in Indonesia (Retail) – • Launch of MAP Club • Further expansion in Vietnam • Corporate Social Responsibility (CSR) Warta
Slide 7: Organization Structure
ORGANIZATION STRUCTURE BOARD of COMMISSIONERS BOARD of DIRECTORS Sri Indrastuti Hadiputranto H.B.L. Mantiri Independent President Commissioner President Director GBPH. H. Prabukusumo, S.Psi V.P. Sharma Independent Vice President Commissioner Vice President Director Hendry Hasiholan Batubara Susiana
Slide 8: Shareholder Structure
SHAREHOLDER STRUCTURE PUBLIC 49.0% 51.0% PT SATYA MULIA GEMA GEMILANG MAP – as at 31st March 2022 Local Share Ownership 65.3% Foreign Share Ownership 34.7% Note: There is no affiliation between numbers of the board of Commissioners, the Board of Directors, or Majority and/or Controlling Shareholders
Slide 9: More Than 150 Exclusive Brands
MORE THAN 150 EXCLUSIVE BRANDS ENTERTAIN OUR SHOPPERS 24 HOURS A DAY Department Food & Specialty Stores Others Stores Beverage Active Fashion & Beauty Digital Sports Hoka One One Energetics Digimap Starbucks Coffee Kinokuniya SOGO Zara Max Mara Sephora SEIBU Sports Station New Era Taylormade Massimo
Slide 10: What Is Unified Retail?
WHAT IS UNIFIED RETAIL? Integrating our offline, online and social channels into one ecosystem OFFLINE SALES 3. VALUE ANALYZE DIGITAL DATA • MAP stores • CRM/ loyalty • Brand mono stores • Social commerce • Wholesale BRAND MANAGER & ONLINE SALES MIM MAP CLUB • MAPemall MAPCLUB.com • Member acquisi
Slide 11: MAPCLUB loyalty program
Earn & Redeem Points Hundreds of Brands, Remarkable Easily Thousands of Stores Member Privileges • Launched in 2016 • #1 CRM Program in Indonesia • Database for cross-selling and marketing • Over 60,000 Social Media followers • More than 20,000 mobile apps users • Potential to create lifestyle coali
Slide 12: 1Q22 Flash
1Q22 FLASH 2,777 Retail Stores*) 110+ Retail Concepts 20+ Online Concepts , 150+ Exclusive brands Physical stores in 79 Cities in Indonesia ASEAN presence in Philippines, Thailand & Vietnam Rp5.6 trillion sales in 1Q 2022 (+30.6% YoY) Digital sales growth of 31.9%, 10.3% contribution to sales 8.7% E
Slide 13: Net Sales & Growth
NET SALES & GROWTH (IDR bn, %) 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 1Q22 % Growth YoY +1% -61% -37% -25% -9% +130% -13% +37% +31% QUARTERLY NET SALES 6,343 5,633 4,722 4,632 4,822 4,313 3,394 2,946 2,100 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 1Q22 Slightly tighter Beginning of COVID Since malls
Slide 14: Financial Highlights
FINANCIAL HIGHLIGHTS (IDR bn, %) AFTER PSAK 73/ IFRS 16 PRIOR PSAK 73/ IFRS 16 1Q22 1Q21 Growth (%) 1Q22 1Q21 Growth (%) Net sales 5,633 4,313 30.6% 5,633 4,313 30.6% Gross Profit 2,414 1,798 34.3% 2,417 1,801 34.2% GPM (%) 42.9% 41.7% 42.9% 41.8% EBIT 488 188 160.3% 454 145 212.0% EBIT Margin (%) 8
Slide 15: Operational Expenditure – 1Q22
OPERATIONAL EXPENDITURE – 1Q22* (IDR bn, %) 1Q22 vs 1Q21 1Q22 1Q21 Growth LABOUR 663 543 22.0% RENTAL 537 447 20.2% DEPR. & AMORT. 208 217 -3.7% UTILITIES 76 67 12.7% A&P 53 47 12.3% OTHERS 426 334 27.4% TOTAL OPEX 1,963 1,656 18.6% *) Prior PSAK 73/ IFRS 16 15
Slide 16: Profitability
PROFITABILITY (IDR bn, %) 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 1Q22 Gross Margin 45.8% 36.2% 40.5% 40.7% 41.7% 43.5% 38.2% 42.1% 42.9% EBITDA Margin 16.8% 6.2% 14.3% 18.2% 16.9% 21.7% 8.3% 22.6% 18.2% EBIT Margin 3.7% -22.6% -3.3% 7.7% 4.4% 10.3% -10.0% 13.3% 8.7% QUARTERLY 846 EBIT 496 488 357 1
Slide 17: Financial Highlights and Retail Footprint
FINANCIAL HIGHLIGHTS (IDR bn, %) (In Rp bn, %) FY20 FY21 1Q21 1Q22 RETAIL FOOTPRINT Net Revenue No. stores Space (sqm) 14,847 18,424 4,313 5,633 TOTAL 2,409 921,937 % Growth -31% +24% -9% +31% DEPT STORE 59 356,507 EBIT (57) 1,234 188 488 SPC. STORE 1,676 394,200 EBIT Margin (%) -0% 7% 4% 9% 1,199 2
Slide 18: Our Digital Channels
OUR DIGITAL CHANNELS DEDICATED WHATSAPP MULTI-BRAND PLATFORMS CHAT AND BUY INITIATIVES 18
Slide 19: Our Digital Channels
OUR DIGITAL CHANNELS 3rd PARTY MARKETPLACES MONO-BRAND SITES .com/id AND ONLINE DELIVERIES .com/vn .co.id .com/id .co.id .com/id .com/id .id .com/id .id .id .com/id .id shop. .com/id .com .com/id .co.id id. .com .co.id .co.id 19
Slide 20: Digital Performance
DIGITAL PERFORMANCE (IDR bn, %) CONTRIBUTION BY CHANNEL DIGITAL SALES PERFORMANCE 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 1Q22 3rd party % to sales 3.5% 27.3% 11.4% 10.5% 10.2% 10.7% 24.8% 11.0% 10.3% marketplace Own 731 698 42% sites 580 574 488 518 58% 386 440 CONTRIBUTION BY SEGMENT 164 F&B 19% A
Slide 21: Inventory Level
INVENTORY LEVEL (Days, IDR bn, %) 2019 2020 2021 1Q22 Aging inventory > 6 month 23% 38% 43% 31% 152 INVENTORY DAYS 125 109 106 2019 2020 2021 1Q22 The strong gross margin gains in Q1 were driven by higher full price sales via ever fine tuning of the Group’s merchandise planning and data analytics. T
Slide 22: Debt Structure & Leverage
DEBT STRUCTURE & LEVERAGE (IDR bn, %) DEBT DEBTPROFILE PROFILE LEVERAGE LEVERAGE* 2019 2020 2021 1Q22 Net DER -4.2% -4.4% -23.0% -17.7% 28% Blended CoF 6.9% 6.6% 5.4% 5.4% GROSS DEBT 2,504 1,507 72% 1,146 1,111 Loan with Floating Interest Rate Loan with Zero Coupon 2019 2020 2021 1Q22 *) Exclude zer
Slide 23: Balance Sheet
BALANCE SHEET (IDR bn) As of As of As of LIABILITIES & As of As of As of ASSETS 31 Mar22 31 Dec21 31 Dec20 EQUITY 31 Mar22 31 Dec21 31 Dec20 Cash & 2,468 2,778 2,788 Bank loan 1,111 1,146 2,504 equivalents Account 597 606 508 Account Payable 2,480 2,521 2,486 Receivables Inventories 4,322 3,731 3,71
Slide 24: PSBB & PPKM Timeline
PSBB & PPKM TIMELINE 2020 – YTD 2022 10 Apr – 14 Sep – 21 Dec’20 9 Feb – 3 Jul – 10 Aug – 2 Nov’21 – 19 Apr – 4 Jun’20 11 Oct’20 – 8 Jan’21 28 Jun’21 2 Aug’21 4 Oct’21 21 Feb ’22 4 Jul ’22 PSBB I Phase 1-3 PPKM Year End PPKM Micro Emergency PPKM PPKM Level 2-4 PPKM Level 1-3 PPKM Level 1-3 PSBB Tigh
Slide 25: Appendix
Appendix 25
Slide 26: Operational Expenditure (After PSAK 73/IFRS 16)
OPERATIONAL EXPENDITURE *(IDR bn,%) 1Q22 1Q21 % YoY LABOUR 663 543 22.0% RENTAL 175 85 105.5% DEPR. & AMORT. 532 532 0.0% UTILITIES 76 67 12.7% A&P 53 47 12.3% OTHERS 426 334 27.4% TOTAL OPEX 1,926 1,610 19.6% *) After PSAK 73/ IFRS 16 26
Slide 27: The Sustainable Development Goals
THE SUSTAINABLE DEVELOPMENT GOALS 27
Slide 28: Governance
3 PILLARS OF SDGs GOVERNANCE 28
Slide 29: MSCI ESG Ratings
MSCI ESG RATINGS*) COMPARISON WITH GLOBAL PEERS PT MITRA ADIPERKASA TBK (RETAIL) Retail – Consumer Discretionary | ID Industria de Diseno Textil, S.A. AAA Weight Score The Home Depot, Inc. AA Environment 18.0% 3.3 Product Carbon Footprint 9% 2.2 Lowe’s Companies, Inc. AA Raw Material Sourcing 9% 4.4
Slide 30: Governance
GOVERNANCE Meas 3 SUSTAINABLE DEVELOPMENT 17 foarnecaus 3u
Slide 31: Governance (G) – Compliance to Regulations
Governance (G) – Compliance to Regulations As a Public Listed Company, we comply with regulations from Indonesia Stock Exchange (IDX), Financial Services Authority (OJK), and other relevant regulators. Some of our responsibilities are: • Submit monthly shareholder report to IDX • Submit quarterly, 1
Slide 32: Governance (G) – Brand Partners ESG Achievements/Ratings
Governance (G) – Brand Partners ESG Achievements/Ratings Brands ESG Achievements/ Ratings Brands ESG Achievements/ Ratings Forbes 2020 America Best Employers for Women Green Building – Distribution center in California 40% Less carbon emission in 2020 (compared to 2015 emission) 32
Slide 33: Planet/Environment
MAP PLANET/ENVIRONMENT 3 SUSTAINABLE DEVELOPMENT GALS |
Slide 34: Planet (E) – Enhancing Culture of Sustainability
Planet (E) – Enhancing Culture of Sustainability “The Green Champions” • In total of 88 Employees have volunteered to become Green Champions • The Green Champions are committed to implement sustainable practices in their daily activities • The Green Champions also remind and encourage other employee
Slide 35: Planet (E) – Single Use Plastic Reduction
Planet (E) – Single Use Plastic Reduction “No Plastic Use” Encourage % of Non-single Use Plastic Bags FY 2021: Campaign Tumbler Usage 85% 100% 99% Fashion* Kids and Active F&B 100% 100% Department Stores Digital &Others (Digimap, Kinokuniya) TOTAL: 36,570,575 (99%) paper or non woven bags from total
Slide 36: Planet (E) – Single Use Plastic Reduction
Planet (E) – Single Use Plastic Reduction Starbucks Starbucks Collaboration with Greener Nusantara Program Surya Indoplastik (since 2019) (since Apr 2021) Used rPET collected will be recycled by PT Surya Indoplastik into new rPET cups creating closed Plastic Straws Replaced Plastic Stirrer Replaced
Slide 37: Planet (E) – Fresh Water Availability
Planet (E) – Fresh Water Availability “Planet Water Partnership” 14th Aqua tower installation in SDN 6 Pemenang Barat, North Lombok Since 2011, 14 Aqua Towers (clean water filtration system) has been built in 6 locations (Bali, Bekasi, Lombok, Medan, Surabaya, and Tangerang). Pumps, pipes 14th Aqua
Slide 38: Planet (E) – Energy & Emission Reduction
Planet (E) – Energy & Emission Reduction To “Reduce Energy”, we: Electricity Consumption*: FY 2020 FY 2021 1.69 Gwh *** 1.58 Mwh *** TOTAL ENERGY REDUCTION: Encourage Switch off office light & AC during 0.11 Utilize Virtual Meeting lunch break & after office hours LED Bulb Gwh (-6.5% YoY) *** Digita
Slide 39: Planet (E) – Emission Reduction
Planet (E) – Emission Reduction Plant Based Option • Starbucks, Pizza Marzano , Genki Sushi and Subway have offered plant based option in the menu • Aside of providing various health benefit to our Veggie Delight customer, those plant based menu is also environmental friendly • Producing meat and da
Slide 40: Planet (E) – Converse City Forest
Planet (E) – Converse City Forest Converse and PT Map Aktif Adiperkasa Tbk are working together with local artist to create a special mural, which created with special paint that can absorb emission and other air pollutant 1 YTD 2021 4 = 700 Murals “Planted” Trees Jl. MH Thamrin Jakarta (Completed i
Slide 41: Planet (E) – Take Back Program
Planet (E) – Take Back Program Used Clothes Collected 3,506 kg Until Dec 2021 1,322 kg 464 kg For donation Down cycled (For pillow/couch stuffing) 811 kg Up cycled (Totebag/Bandana) Implementing Stores: 909 kg 66 Stores Sold for second hand use, funds will be used for Sekolah Relawan operational fun
Slide 42: Planet (E) – Waste Management
Planet (E) – Waste Management Waste Management started at 18/10/2021 Waste Collected and Recycled: 950.13 kg FY 2021 Implementing Stores 18 FY2021 42
Slide 43: Planet (E) – RAJAB Waste Reduction
Planet (E) – RAJAB Waste Reduction Through Rumah Belajar Anak Bintang (RAJAB), our community development program, we also encourage sustainable lifestyle from the early age Plant vase from used fabrics Reusable bags from used plastic bags Reuse/recycling of used paper RAJAB Panyocokan RAJAB Kamojing
Slide 44: Social (People & Prosperity)
SOCIAL (PEOPLE & PROSPERITY) 44
Slide 45: People (S) – Skills for the Future
People (S) – Skills for the Future Our “Internal Training” consist of: MAP Retail Academy The First Academy in Indonesia with professional retail certification The Unbeatable Benefits 1. Part of Industry MAP Retail Academy Focused on soft skills and Together with All Brands under MAP, including ZARA
Slide 46: People (S) – Online Training
People (S) – Online Training Employees Certified Total Access of External Training 1,356 Online Training Session Participants 6,917 55.5 k 899 16,151 9,584 10,644 12,299 iActive Access by end FY’21 Materials Sessions Participants Total Total Personal development 64 16,151 Modul Category Modules Acce
Slide 47: People (S) – Quality Education for Public
People (S) – Quality Education for Public We Are Official Partner of The Government “Kampus Merdeka” Project • MAP retail academy is an official partner for “Certified Internship and Independent Study”, a program under Kampus Merdeka project • Kampus Merdeka Project is a program owned by Indonesia M
Slide 48: People (S) – Edge Certification
People (S) – Edge Certification • MAP passed the EDGE Assess certification • EDGE (Economic Dividends for Gender Equality) is a global assessment tools and business certification for gender equality • Edge Certificate measure Gender Equality through 4 components: • Gender Balance at all levels • Pay
Slide 49: People (S) – Special Crew
People (S) – Special Crew We aim to “Improve our Workplace” inclusion 95 Special Crew (hearing and speaking impaired) in Bali, Makassar and Jakarta for equal opportunity Burger King Sunset Road, Bali; Burger King Hasanuddin, Makasar; Burger King Skyline, Jakarta 49
Slide 50: People (S) – Ensuring Food Safety
People (S) – Ensuring Food Safety Implement clear Attained ISO 22000 Provide clear Standard Operating Procedure – Food Safety Management System of food handling, hygiene and sanitation Halal Label F&B Brands that have obtained For central production of: “Halal Certificate” 50
Slide 51: People (S) – Covid-19 Vaccination
People (S) – %Covid-19 Vaccination FY 2021, 98.56% of MAP’s employees have already been vaccinated against COVID-19 2.44% 1.44% TOTAL Description % CONT VACCINATED Fully Vaccinated 96.12% Only 1st Shot 2.44% TOTAL VACCINATED 98.56% NOT YET Can't be Vaccinated 0.95% Waiting to be Vaccinated 0.49% 96.
Slide 52: Prosperity – RAJAB
Prosperity Rumah Belajar Anak Bintang (RAJAB) RAJAB is a Community development program This program, which was PT Mitra Adiperkasa Tbk Karang Taruna which provides free character building initiated in 2014, is now Jawa Barat education for underprivileged children. operating in 7 villages in West Jav
Slide 53: Prosperity – Quality Education for Public
Prosperity – Quality Education for Public “Community Store” • Part of the store revenue will also be used to support the activities done in the workshop • The Community Store is located in Tanah Abang, and classes the largest textile market in Southeast Asia • Most of the workers in this community s
Slide 54: Prosperity – YOAN Partnership
Prosperity Partnership with “Yayasan Olahraga Anak Nusantara (YOAN)” • YOAN is a sports foundation that involves in coaching young athletes properly, carrying the concept: “Build people through sports”. • This program aims to: • Spread active and healthy lifestyle • Enhancing the love of sports thro
Slide 55: Prosperity
Prosperity Working together with small and medium enterprise that wants to “Create Positive Impact” • Their products utilize plastic and textile • The special woven bags are made by the hands waste of 20 – 50 years old farmers, living in East Java, • The Company also engage with the local Indonesia
Slide 56: Prosperity – Department Store & Benih Baik
Prosperity – Department Store & Benih Baik SOGO Help Kids in Hunger SOGO Peduli Covid – 19 IDR 2,268,695,022 IDR 1,841,263,096 Total Funds Collected Total Funds Collected (YTD Apr 2021) 15 October 2020 – 15 January 2021 15 January – 5 April 2021 Donation Period Donation Period According to UNICEF, w
Slide 57: Prosperity – The FoodHall We Care Campaign
Prosperity The FoodHall “We Care!” Campaign • To ease the impact of COVID 19 Pandemic, IDR 157 million worth of basic groceries were distributed directly by The FoodHall in September & October 2020 • To create more sustainable impact, The FoodHall is collaborating with BenihBaik.com for the next pro
Slide 58: Thank You
THANK YOU INVESTOR RELATIONS CONTACT DETAILS: " This presentation material contains the latest financial information, business strategies and the prospective financial information Ratih Darmawan Gianda of the Company. The business strategies are subject to changes due to uncertainties that could aff