Pt Mitra Adiperkasa Tbk · IDX:MAPI
Pt Mitra Adiperkasa Tbk — 9M 2024 Earnings Presentation
34 slides from Pt Mitra Adiperkasa Tbk's earnings presentation, December 2024
Slide 1: Mitra Adiperkasa Unaudited Result 9M/Q3 2024
Mitra Adiperkasa UNAUDITED RESULT 9M/Q3 2024
Slide 2: Table of Contents
TABLE OF CONTENTS • Indonesia Macroeconomic indicators • Overview of MAP Group • 9M/Q3 2024 Financial Highlight • Strategies for 2024 & Beyond • Appendix
Slide 3: Positive trends in Indonesian macroeconomic indicators
The Company has observed positive trends in overall macroeconomic indicators, including robust GDP growth along the year and well-controlled inflation rates. Indonesia GDP growth (% YoY) Quarter Q1 Q2 Q3 Q4 2017 5.0 5.0 5.1 5.2 2018 5.1 5.3 5.2 5.2 2019 5.1 5.1 5.0 5.0 2020 3.0 -5.3 -3.5 -2.2 2021 -
Slide 4: Overview of Group
OVERVIEW OF GROUP 3,463 150+ 110+ Retail Stores + 51 online stores World Class Brands Retail Concepts + Presence in 3rd party online stores Over 80 29,569 Cities** Employees ** Excluding regional countries 7
Slide 5: Specialty Stores and brands
Department Food & Specialty Stores Others Stores Beverage Active Fashion & Beauty Digital SOGO Sports Tabata Energetics Zara Travelogue Sephora Digimap Starbucks Coffee Kinokuniya SEIBU Sports Station 2XU Champion Massimo Dutti Max Mara Sulwhasoo Digiplus Subway Alun Alun Indonesia Galeries Lafayett
Slide 6: Retail Footprint 9M 2024
RETAIL FOOTPRINT 9M 2024 No. Stores Space (sqm) Consolidated 3,463 1,134,410 Department Store 61 328,240 Specialty Store 2,553 578,767 Active 1,871 394,190 Fashion & Beauty 533 169,365 Digital 149 15,211 F&B 844 219,210 Others 5 8,193 9
Slide 7: 9M/Q3 2024 Financial Highlights
9M/Q3 2024 FINANCIAL HIGHLIGHTS 10
Slide 8: 9M 2024 Financial Highlights
*) After PSAK 73/ IFRS 16 9M 9M Q3 Q3 in IDR Billion % Growth % Growth 2024 2023 2024 2023 Net Sales 27,616 23,792 16.1% 9,623 8,198 17.4% Gross Profit 11,824 10,859 8.9% 4,029 3,786 6.4% % Margin 42.8% 45.6% 41.9% 46.2% EBIT 2,388 2,566 -6.9% 772 832 -7.3% % Margin 8.6% 10.8% 8.0% 10.2% EBITDA 4,55
Slide 9: Sales contribution by segment 9M 2024 vs 9M 2023
9M 2024 9M 2023 Dept. Stores Dept. Stores 8% F&B 7% F&B Others 9% Others 13% 2% 1% Digital 16% Digital 14% Active 40% Active Fashion & Beauty 45% Fashion & 22% Beauty 23% 12
Slide 10: % Growth YoY Net Sales
(IDR bn, %) % GROWTH 9M 24 9M 23 9M 22 9M 21 9M 20 YoY 16.1% 26.4% 55.8% 18.3% -33.9% 27,616 NET SALES 23,792 18,821 12,080 10,216 9M 24 9M 23 9M 22 9M 21 9M 20 13
Slide 11: Inventory Days
(Days, IDR bn, %) Aging Inventory 9M 24 2023 2022 2021 2020 2019 > 6 month 27% 23% 25% 43% 38% 23% 152 135 126 125 109 102 INVENTORY DAYS 17
Slide 12: Leverage
(IDR bn, %) LEVERAGE* 9M 24 2023 2022 2021 2020 NET DER -4% -6% -33% -23% -4% 9M 24 2023 2022 2021 2020 BLENDED COF 5.8% 5.8% 5.8% 5.4% 6.6% Gross Debt 3,240 2,923 2,885 Net Cash /(Net Debt) 2,504 1,633 1,146 790 579 611 284 18 *) Exclude zero coupon bond (GA)
Slide 13: Assets, Liabilities and Equity
(IDR bn) As of As of As of LIABILITIES As ofAs of AsAsofof As Asofof ASSETS LIABILITIES && EQUITY 30 SEP '24 31 DEC '23 31 DEC '22 30 SEP '24 31 DEC '23 31 DEC '22 EQUITY 31 Dec22 31 Dec21 31 Dec20 CASH & EQUIVALENTS 3,502 3,675 3,851 BANK LOAN 2,923 2,885 611 ACCOUNT RECEIVABLES 961 1,145 899 BONDS
Slide 14: Group Strategy for 2024 & Beyond
GROUP STRATEGY for 2024 & BEYOND
Slide 15: Regional presence as of September 2024
as of September 2024 INDONESIA PHILIPPINES VIETNAM • 3,042 stores • 218 stores • 48 stores • 150+ exclusive brands • 20 exclusive brands • 16 exclusive brands THAILAND MALAYSIA SINGAPORE CAMBODIA • 50 stores • 61 stores • 30 stores • 14 stores • 14 exclusive brands • 6 exclusive brands • 9 exclusive
Slide 16: Geographical % Sales of 9M 2024
GEOGRAPHICAL % SALES OF 9M 2024 Overseas 16% Others 3% Jakarta Sulawesi 49% 2% Sumatera 6% Bali 5% Jawa 19% 22
Slide 17: Improve Process, Trim Expenses, Rationalization
Improve Process Trim Expenses Consolidating our resources across Carefully evaluating costs and ensuring the countries we operate in. every expense directly benefit the business. Brand & Store Rationalization Optimizing Headcount Focusing on maximizing profitable brands Aligning the workforce with c
Slide 18: Refining inventory management
Refining inventory management Leveraging systems to improve inventory availability at the store level, reduce out-of-stock rates, increase Blue Yonder store sales, and enhance allocation accuracy in order to meet consumer needs and boost overall business Streamlined & Automated performance. solution
Slide 19: Integrated data-driven digital ecosystem: MAPCLUB
We aim to enhance the overall customer experience by building an integrated data-driven digital ecosystem a. MAPCLUB - One power App for branded shopping A retail community App which aggregates all MAP’s commerce & customer collaboration in one ecosystem. ALL BRANDS MAP CLUB unifies data from all ou
Slide 20: Endless Aisle and BluTab Technology
b. Endless Aisle (Save The Sale) c. BluTab Technology A process to optimize the Company’s inventories by A proprietary O2O technology that assists online shoppers online access to all store and DC stocks nationwide. with faster deliveries by fulfillment from a store closest to When a size or colour
Slide 21: Online platforms by category
ACTIVE FASHION DIGITAL OTHERS Planetsports.asia Newbalance ID ZARA ID DIGIMAP ID KINOKUNIYA Sportsstation.id Converse ID ZARA VN DIGIMAP PH Lineashoes.com Converse PH ZARA Cambodia DIGIBOX VN 3rd Party Marketplaces Footlocker ID Converse SG PULL & BEAR DIGIBOX Cambodia SHOPEE Footlocker PH Converse
Slide 22: Contribution by channel and digital sales performance
(IDR bn, %) CONTRIBUTION BY CHANNEL DIGITAL SALES PERFORMANCE Own 9M 24 9M 23 2023 2022 2021 Platforms CONTRIBUTION 9.0% 8.5% 8.8% 9.0% 13.0% 55% + 23% 2,933 2,489 2,419 2,388 3rd Party Marketplaces 2,029 45% CONTRIBUTION BY SEGMENT 9M 24 9M 23 2023 2022 2021 9M 2024 Sales Contribution 9.0% 30
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Slide 24: Appendix I: Company Overview
Appendix I: Company Overview 33
Slide 25: Company history and milestones
Incorporation • Diversified into Food & Beverage Started with Sports with Starbucks Coffee Strategic Partnership before venturing into • Started operations of Garment with CVC Fashion and Lifestyle Factory in Gunung Putri, Bogor IPO of MAP (Listed in IDX) for Active Division (MAA) 1995 2002 2004 201
Slide 26: Board of Commissioners and Board of Directors
BOARD of COMMISSIONERS BOARD of DIRECTORS H.B.L. Mantiri Sri Indrastuti Hadiputranto President Director Independent President Commissioner V.P. Sharma GBPH. H. Prabukusumo, S.Psi Vice President Director Independent Vice President Commissioner Susiana Latif Director Sintia Kolonas Commissioner Sjeniw
Slide 27: Shareholder structure as of 30 September 2024
MAP – as of 30th September 2024 Local Share Ownership 60,0% PUBLIC Foreign Share Ownership 40,0% 49.0% 51.0% PT SATYA MULIA GEMA GEMILANG Note: There is no affiliation between numbers of the board of Commissioners, the Board of Directors, or Majority and/or Controlling Shareholders. 36
Slide 28: Appendix II: Financials
Appendix II: Financials 37
Slide 29: Financial highlights prior to PSAK 73/IFRS
*) prior PSAK 73/ IFRS 16 9M 9M Q3 Q3 in IDR Billion % Growth % Growth 2024 2023 2024 2023 Net Sales 27,616 23,792 16.1% 9,623 8,198 17.4% Gross Profit 11,841 10,876 8.9% 4,032 3,792 6.3% % Margin 42.9% 45.7% 41.9% 46.3% EBIT 2,167 2,364 -8.3% 679 782 -13.3% % Margin 7.8% 9.9% 7.1% 9.5% EBITDA 2,973
Slide 30: Operating expenses in % of sales
*) After PSAK 73/ IFRS 16 in % of sales 9M 24 9M 23 2023 2022 NET SALES 27,616 23,792 33,319 26,937 LABOR 11.2% 11.7% 11.3% 10.9% RENTAL 4.8% 4.7% 4.3% 3.5% DEPRECIATION & AMORT. 7.8% 7.6% 7.7% 8.8% UTILITIES 1.2% 1.2% 1.2% 1.2% A&P 1.5% 1.5% 1.7% 1.4% OTHERS 7.7% 8.2% 8.4% 7.5% TOTAL OPEX 34.2% 34.
Slide 31: Specialty Store
SPECIALTY STORE *) After PSAK 73/ IFRS 16 In IDR BN 9M 24 9M 23 Q3 24 Q3 23 Net Revenue 22,996 18,440 8,104 6,395 % Growth 24.7% 28.6% 26.7% 28.9% EBIT *) 2,198 2,117 751 682 % Ebit Margin 9.6% 11.5% 9.3% 10.7% FASHION & BEAUTY ACTIVE DIGITAL ZARA 21 Stores SPORTS STATION 369 Stores DIGIMAP 141 Stor
Slide 32: Food & Beverage
FOOD & BEVERAGE *) After PSAK 73/ IFRS 16 In IDR BN 9M 24 9M 23 Q3 24 Q3 23 FOOD & BEVERAGE Net Revenue 2,421 3,072 796 1,073 STARBUCKS COFFEE 603 Stores SUBWAY 106 Stores % Growth -21.2% 25.0% -25.8% 19.1% PIZZA MARZANO 21 Stores EBIT *) (84) 178 (36) 89 COLD STONE 18 Stores KRISPY KREME 35 Stores
Slide 33: Department Store
DEPARTMENT STORE *) After PSAK 73/ IFRS 16 In IDR BN 9M 24 9M 23 Q3 24 Q3 23 Net Revenue 1,988 1,883 665 621 % Growth 5.6% 12.7% 7.0% 11.1% EBIT *) 263 268 83 53 % Ebit Margin 13.3% 14.2% 12.5% 8.6% DEPARTMENT STORE SOGO 18 Stores SEIBU 2 Stores GALERIES LAFAYETTE 1 Stores THE FOODHALL 40 Stores TOT
Slide 34: 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