PT Ramayana Lestari Sentosa Tbk · IDX:RALS
PT Ramayana Lestari Sentosa Tbk — Investor Presentation (March 2017)
24 slides from PT Ramayana Lestari Sentosa Tbk's investor presentation, March 2017
Slide 1: PT. Ramayana Lestari Sentosa Tbk. March 2017
PT. RAMAYANA LESTARI SENTOSA Tbk. MARCH 2017 This presentation materials include the latest updates, projections and strategies of the Company. The information contained herein reflects the Company’s reasonable judgments on its forward- looking views and is subject to changes caused by unforeseeable
Slide 2: Directory
DIRECTORY • Economic Outlook 3 • Ramayana In Brief 4 • Financial Outlooks 5 • Capital Expenditure 6 • Where We Put Our Money 7 • Seasonality 8 • Sales Breakdown 9-10 • Sales By Region 11 • Gross Margin 12 • Same Store Growth 13 • Productivity 14 • Productivity By Region 15 • Number Of Stores 16 • Sp
Slide 3: Economic Outlook
Economic Outlook 2013 2014 2015 2016 2017 (P) GDP (USD bn) 878 868 873 877 GDP (IDR tr) 10.756 10.850 12.026 12.190 Year end USD / IDR 12.250 12.500 13.776 13.503 13.300 GDP yoy growth (%) 5,62 5,01 4,70 5,02 5,20 Inflation (%) 8,36 8,36 3,35 3,02 4,0 Unemployment (%) 6,25 5,94 6,18 5,61 Minimum Wag
Slide 4: Ramayana in Brief
Ramayana in Brief • Middle-lower and lower markets • Offers full range of fashion goods, toys, household items, stationery and food • 40.5% free float or 2.871 bn shares 31-December-16 IPO • PT Ramayana Makmur Sentosa 55.8% 61.1% • Paulus Tumewu 3.7% 16.0% • Public 40.5% 22.9% • Listed in July 1996,
Slide 5: Financial Outlook
Financial Outlook (in IDR bn) 2013 2014 2015 2016 2017 Sales 7.968 7.942 7.786 8.235 8.903 Net profit 390,5 355,1 336,1 408,5 502,7 (as % of sales) Gross margin 26,9 25,8 25,6 26,7 27,5 EBIT margin 5,1 3,8 3,2 4,5 5,6 Net margin 4,9 4,5 4,3 5,0 5,9 ROE 12,1 10,6 10,1 12,2 15,0 ROA 8,9 7,8 7,3 8,8 10
Slide 6: Capital Expenditures
Capital Expenditures (in IDR mn) Expenditures Year Fixed Assets Long - term Rent Total 2012 214.496 38.5% 341.365 61.5% 555.860 2013 426.721 63.1% 249.331 36.9% 676.052 2014 126.809 42,9% 168.463 57,1% 295.272 2015 145.442 76,7% 44.079 23,3% 189.521 2016 134.985 37,5% 224.821 62,5% 359.806 6
Slide 7: Where We Put Our Money
Where We Put Our Money • Cash & Bank : • IDR 1,60 tr • USD 11,95 mn • Short Term Investment : IDR 68,1 bn 7
Slide 8: Seasonality
Seasonality ( in percentage) Year 1Q 2Q 3Q 4Q 2012 18,5 22,7 38,3 20,5 2013 17,8 23,0 37,8 21,4 2014 19,5 24,3 35,3 20,9 2015 19,2 25,0 33,7 22,1 2016 18,0 35,0 25,2 21,8 8
Slide 9: Sales Breakdown
Sales Breakdown (% of sales) Major class 2012 2013 2014 2015 2016 Women 13,0 13,7 13,6 9,9 10,0 Men 21,9 22,7 24,0 28,4 29,2 Children 7,2 7,0 6,7 8,4 8,7 S, B, A, 18,9 20,6 21,5 23,4 23,6 Special Buy 3,4 3,2 2,3 1,4 1,3 Toys & Sta. 2,6 2,2 1,8 1,4 1,4 Housewares 5,3 4,9 4,3 3,0 3,1 Supermarket 27,7
Slide 10: Sales Breakdown (cont'd)
Sales Breakdown (cont’d) Fashion Toy, Sta, Hw* Supermarket Total Year Out^ Con^^ Out Con Out Con Out Con 2010 32,2 26,5 8,7 0,2 29,9 2,5 70,8 29,2 2011 33,9 29,9 9,0 0,4 39,2 2,0 67,9 32,1 2012 33,9 30,5 7,5 0,3 25,7 2,0 67,1 32,8 2013 35,0 32,1 6,8 0,3 23,9 1,9 65,7 34,3 2014 34,1 34,0 5,8 0,3 24,8
Slide 11: Sales by Region
Sales by Region REGION 2012 2013 2014 2015 2016 Java 4.049.208 54,3% 4.514.915 56,7% 4.543.537 57,2% 4.582.674 58,9% 4.958.022 60,2% Bali-NTT 422.409 5,7% 440.817 5,5% 449.462 5,7% 423.457 5,4% 435.080 5,3% Sumatra 1.746.003 23,4% 1.686.931 21,2% 1.637.001 20,6% 1.528.595 19,6% 1.495.484 18,1% Kalim
Slide 12: Gross Margin
Gross Margin Major Class 2012 2013 2014 2015 2016 Women 37,9 36,8 36,7 32,4 32,9 Men 32,0 31,8 31,4 29,8 30,2 Children 38,0 37,2 37,3 35,2 37,1 S, B, A * 30,4 30,4 30,4 27,8 28,3 Special buy 32,3 32,7 31,1 28,5 32,8 Toys & Sta.** 25,4 26,6 24,0 25,3 22,4 Housewares 23,8 24,4 24,6 22,9 20,6 Supermark
Slide 13: Same Store Growth
Same Store Growth Year 3M 1H 9M FY 2011 3,0 2,9 3,7 5,0 2012 9,5 12,1 9,2 8,8 2013 -3,5 1,3 0,6 2,2 2014 7,5 6,8 1,3 0,6 2015 -3,3 -1,2 -4,1 -2,7 2016 -0,1 27,5 7,1 6,3 13
Slide 14: Productivity
Productivity per sqm / year per sqm / day Year (IDR mn) (IDR) 2011 7,8 21.285 2012 8,0 21.990 2013 8,0 22.003 2014 8,0 21.992 2015 8,0 21.850 2016 8,5 23.325 *net sales/time weighted average gross operating space 14
Slide 15: Productivity by Region
Productivity by Region REGION 2012 2013 2014 2015 2016 Java 7.7 8,0 8,1 8,2 8,7 Bali & NTT 11.0 11,4 11,7 11,0 11,3 Sumatera 7.3 7,1 7,0 7,0 7,3 Kalimantan 7.9 7,8 7,7 7,0 7,8 Sulawesi 10.7 10,9 10,4 10,4 11,2 Maluku - 4,9 6,9 8,0 9,3 Papua 9.8 6,9 6,7 6,6 8,4 Total 8.0 8,0 8,0 8,0 8,5 Region Greate
Slide 16: Number of Stores
Number of Stores Owned Affiliate Gov't Private Total Beginning 2015 23 39 14 40 116 New stores 1 - - - 1 Closed stores - - 2 1 3 Ending 2015 24 39 12 39 114 Beginning 2016 24 39 12 39 114 New stores 2 - - - 2 Closed stores - 1 - 2 3 Ending 2016 26 38 12 37 113 16
Slide 17: Space Growth
Space Growth 2011 2012 2013 2014 2015 2016 Existing stores Gross space 821,838 893,084 962,567 1.006.781 988.787 975.843 Net space 559,729 625,192 691,592 732.012 720.226 713.545 New stores Gross space 34,440 66,071 56.724 4.985 9.715 13.979 Net space 30,280 55,961 47.421 4.637 9.208 8.786 Expanded
Slide 18: Space by Region
Space by Region Region # of stores Gross space % Net space % G. Jkt 41 307.126 7.491 31,7% 224.840 5.484 32,0% West Java 13 117.506 9.039 12,2% 89.922 6.917 12,8% Central Java 7 49.938 7.134 5,2% 36.026 5.147 5,1% East Java 11 97.769 8.888 10,1% 64.184 5.835 9,1% Bali 3 30.819 10.273 3,2% 19.494 6.4
Slide 19: Insurance
Insurance • Coverage including riot, strike, malicious damage • Value insured in IDR 2,5 tn with ASOKA MAS 19
Slide 20: Competition
Competition • Small organized regional retailers, such as: • Borobudur (Jabodetabek) • Yogya (West Java) • Hardy’s (Bali) • Sri Ratu (Central Java) • Suzuya (Sumatra) • Trade Centers / wholesales markets for fashion, mostly in Greater Jakarta • Mini markets for supermarket 20
Slide 21: Number of Employees
Number of Employees Job function 2012 2013 2014 2015 2016 Commissioners 4 4 4 4 4 Directors 5 5 5 5 5 Division & Sub 535 535 535 535 535 Section Heads 489 489 489 489 489 Cashiers 2.378 2.142 1.854 1.636 1.360 Sales Staffs 12.792 10.954 9.455 8.610 7.073 Adm & others 1.723 1.503 1.503 1.503 1.503 To
Slide 22: Merchandise
Merchandise • Market leader in soft lines with strong house brands / private labels, strong relationship with suppliers with contract manufacturing resulting in ‘value for money’ price points. • Up to date fashion trend and fast fashion strategy to ensure and attract strong customer following. • Cen
Slide 23: Highlights / Problems
Highlights / Problems • A mild sign of recovery of export sector in commodities has not yet translated into strong sales performance. • Pressure from underperforming Supermarket business with low yield, low margin, and high cost. • Continuous expected cost pressure as the result of minimum wage and
Slide 24: 2017 Plans
2017 Plans • Increase consignment sales by providing more space and more brands, in order to achieve lower operating expenses, negative working capital and higher operating margin. • Reinventing supermarket with SPAR for better efficiency, productivity and profitability. • Continue store expansion p
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