Pt Map Aktif Adiperkasa Tbk · IDX:MAPA
Pt Map Aktif Adiperkasa Tbk — Investor Presentation (August 2018)
16 slides from Pt Map Aktif Adiperkasa Tbk's investor presentation, August 2018
Slide 1: MAP Active Company Presentation
NO LIMITS LAD IAA PAC tire Company HOSCMMON
Slide 2: Forward-looking statements disclaimer
This presentation contains “forward-looking statements”, which are based on current expectations and projections about future events, and include all statements other than statements of historical facts, including, without limitation, any statements preceded by, followed by or that include the words
Slide 3: MAP Active by the numbers
MAP Active by the numbers #1 sports retailer in Indonesia with dominant market share of 63%1 in 2017 Operates 991 stores in 70 cities as of June 30, 2018 70+% of sales generated through our 10+ proprietary multi-brand chains 150+ brands, of which 40+ are exclusive brands c.US$380m sales in 20172 13.
Slide 4: Unrivalled nationwide retail network
Unrivalled nationwide retail network Presence across 70 cities, 991 stores and 180,378 sqm of selling space1 and best positioned to capture significant market2 growth of 12% Sumatra 10% of sales Sulawesi 4% of sales Kalimantan 3% of sales Others Java (Jakarta) 2% of sales 76% (36%) of sales Bali 5%
Slide 5: Growing leisure and kids segments
Growing leisure and kids segments Net revenue (IDRbn) +22.3% 747 • Multi-brand banners1: Ogaan, Payless +19.6% 611 • Broad range of leisure footwear, accessories and 461 444 371 Leisure apparel from well-known international and specialty brands • Multi-tier, multi-format strategy 10m to 2016 2017 1H
Slide 6: Future Growth Strategies
Future Growth Strategies 1 2 3 Profitable Continue Focus on store operational top brands expansion excellence • Target 10% CAGR increase • Maintain strong SSSG • Focus on ROI and in selling area over next two and further improve Productivity years margins 4 5 6 Execute digital Explore Strategic stra
Slide 7: Future Growth Strategies: online retail development plans
Future Growth Strategies Development plans for online retail E-Commerce platform & Fitness APP Brand sites Standalone website expected to be launched in 4Q2018, that serves as an aggregator of all store brands and brand principals Mono-brand sites that are Mobile application that developed and manag
Slide 8: Future Growth Strategies: badminton brand
Future Growth Strategies High performance badminton brand designed by Indonesia’s first Olympic Champions, Alan Budikusuma & Susi Susanti “THEIR SPELLBINDING VICTORIES AT THE 1992 BARCELONA OLYMPICS SHOWED A NATION THAT ANYTHING WAS POSSIBLE” • Acquired in Dec 2017 • Goal to be the #1 value sport br
Slide 9: Key revenue drivers
Key revenue drivers Selling space evolution (sqm) Same-store sales growth (%)2 8.5% (1.3%) 170,523 180,378 159,290 157,217 13.6% 11.1% 10m to 2015 2016 2017 1H18 Selling space Selling space growth 8.3% Inventory days1 LT Target of 120 days 201 168 144 2016 2017 1H18 2015 2016 2017 1H18 Note: 1. Inve
Slide 10: Inventory aging
Inventory aging Inventory as of Dec 2015 Inventory as of Jun 2018 16% 39% 61% 84% Aged over six months Aged less than six months Note: 1. Inventory aged over six months 10
Slide 11: Improvement in working capital
Improvement in working capital Cash conversion cycle (days)1 Inventory days2 201 168 144 180 151 2016 2017 1H18 128 Trade receivables days3 8 9 9 2016 2017 1H18 Trade payables days4 29 26 26 2016 2017 1H18 2016 2017 1H18 Note: 1. Cash Conversion Cycle = Inventory Days + Receivable Days – Payable Day
Slide 12: Free Cash Flows
Free Cash Flows Highly cash generative business with promising momentum in 1H18 Free cash flow1 (IDRbn) 10m to Dec 2015 2016 2017 1H18 Adjusted EBITDA 312 573 742 464 Capital expenditure2 (79) (86) (165) (101) Change in working capital nm 246 (37) 55 Tax paid (34) (170) (166) (89) Free cash flow nm
Slide 13: Non-GAAP reconciliation of Adj. EBITDA and Adj. net income
Non-GAAP reconciliation of Adj. EBITDA and Adj. net income Reconciliation of adjusted EBITDA to net income Commentary (IDRbn) 2015 2016 2017 1H17 1H18 • Day 1 gain in fiscal year 2015 is the unamortized discount representing the Net income for the year 636 257 293 85 32 difference between the nomina
Slide 14: Indonesia's #1 sports retail marketer
Indonesia's #1 sports retail marketer #1 player in Indonesia's International Sportswear Market1 63.4% Largest retail network of 991 stores across 70 cities2 Comprehensive coverage through a multi-tier, multi-format platform Dominant player Powerful brand management capabilities across product brands
Slide 15: Future Growth Strategies: selling area expansion
Future Growth Strategies Target to increase selling area at a 10% CAGR over the next two years with a focus on profitable growth Selling space evolution ('000 sqm)1 Target 10% CAGR net increase in selling space over next two years or 100 – 150 new stores per year CAGR: +10% Rolling pipeline of ~200
Slide 16: Planet Sports and Sports Station
Planet Sports and Sports Station 2017 net revenue: ~IDR 571bn (11.2% of total) 2017 net revenue: ~IDR 1,906bn (37.5% of total) 16
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