Pt Mitra Adiperkasa Tbk · IDX:MAPI
Pt Mitra Adiperkasa Tbk — 9M 2023 Earnings Presentation
35 slides from Pt Mitra Adiperkasa Tbk's earnings presentation, November 2023
Slide 1: Unaudited Result 9M/3Q 2023
MAP Mitra Adiperkasa UNAUDITED RESULT 9IM/3Q 2023
Slide 2: Table of Contents
TABLE OF CONTENTS Indonesia Macroeconomic 1 Indicators 2 OVERVIEW OF MAP GROUP 9M/3Q 2023 FINANCIAL 3 HIGHLIGHTS STRATEGIES FOR 2023 & 4 BEYOND 5 APPENDIX 2
Slide 3: Positive macroeconomic indicators: GDP growth and inflation
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) (%) Inflation Quarter Q1 Q2 Q3 Q4 7.0 2017 5.0 5.0 5.1 5.2 6.0 2018 5.1 5.3 5.2 5.2 5.0 2019 5.1 5.1 5.0 5.0 4.0
Slide 4: Overview of Group
OVERVIEW OF GROUP 3,399 150+ 110+ Retail Stores* + 45 online stores World Class Brands Retail Concepts + Presence in 3rd party online stores 80 Over 28,189 Cities** Employees * Data includes Burger King and Domino’s Pizza 4 ** Excluding regional countries
Slide 5: Brand portfolio by segment
Department Food & Specialty Stores Others Stores Beverage Active Fashion & Beauty Digital Sports Tabata Energetics Digimap Starbucks Coffee Kinokuniya SOGO Zara Travelogue Sephora Sports Station 2XU Champion Digiplus Subway Samsonite SEIBU Massimo Dutti Max Mara Sulwhasoo Planet Sports.Asia Crocs Ae
Slide 6: MAPI Retail Footprint 9M/3Q 2023
MAPI RETAIL FOOTPRINT 9M/3Q 2023 No. stores Space (sqm) CONSOLIDATED 3,008 1,037,740 DEPT STORE 58 332,121 SPC. STORE 2,095 483,934 ACTIVE 1,518 313,654 FASHION & BEAUTY 500 161,493 DIGITAL 77 8,787 F&B 803 209,533 OTHERS 52 12,152 Exclude: 173 Burger King & 218 Domino’s Pizza 6
Slide 7: 9M/3Q 2023 Financial Highlights
9M/3Q 2023 FINANCIAL HIGHLIGHTS 7
Slide 8: Financial Highlights
FINANCIAL HIGHLIGHTS *) After PSAK 73/ IFRS 16 (IDR bn, %) 9M23 9M22 GROWTH 3Q23 3Q22 GROWTH NET SALES 23,792 18,821 26.4% 8,198 6,573 24.7% GROSS PROFIT 10,859 8,488 27.9% 3,786 3,056 23.9% 45.6% 45.1% 46.2% 46.5% EBIT 2,566 2,178 17.8% 832 854 -2.5% 10.8% 11.6% 10.2% 13.0% EBITDA 4,400 3,926 12.1%
Slide 9: Net Sales & Growth
NET SALES & GROWTH (IDR bn, %) 9M23 9M22 9M21 9M20 9M19 % GROWTH YoY 26.4% 55.8% 18.3% -33.9% 11.7% 23,792 NET SALES 18,821 15,449 12,080 10,216 9M23 9M22 9M21 9M20 9M19 9
Slide 10: Profitability
PROFITABILITY *) Prior PSAK 73/ IFRS 16 (IDR bn, %) 9M23 9M22 2022 2019 Gross Margin 45.7% 45.1% 44.7% 47.7% EBIT Margin 9.9% 10.6% 10.8% 9.2% EBITDA 12.9% 14.0% 14.0% 13.2% 2,904 EBIT 2,364 1,997 1,989 9M23 9M22 2022 2019 10
Slide 11: Inventory Level
INVENTORY LEVEL (Days, IDR bn, %) 9M23 1Q23 FY22 FY22 2022 FY21 2021 FY20 2020 FY19 2019 AGING INVENTORY > 6 Months 24% 25% 43% 38% 23% 152 125 INVENTORY DAYS 113 109 102 9M23 2022 2021 2020 2019 Our ability to absorb and utilize data has greatly increased year after year, resulting in a significant
Slide 12: Debt Structure & Leverage
DEBT STRUCTURE & LEVERAGE (IDR bn, %) LEVERAGE* 9M23 2022 2021 2020 2019 NET DER -11% -33% -23% -4% -4% BLENDED COF 5.7% 5.8% 5.4% 6.6% 6.9% 3,240 2,504 1,680 1,633 1,507 1,279 1,146 611 284 310 9M23 2022 2021 2020 2019 *) Exclude zero coupon bond (GA) Gross Debt Net Cash 12
Slide 13: Financial Charges Structure
FINANCIAL CHARGES STRUCTURE (IDR bn) 9M23 2022 2021 2020 Interest expense on loans 83 94 193 214 Amortized interest - 26 28 29 on zero coupon bond Interest expense on 237 362 279 309 lease liabilities (non-cash item) FINANCE CHARGES 500 552 482 320 9M23 2022 2021 2020 *) no restatement for FY19 book
Slide 14: Balance Sheet
BALANCE SHEET (IDR bn) As of As of As of LIABILITIES & As of As of As of As of As Asof of ASSETS LIABILITIES EQUITY & EQUITY 31 Dec22 31 Dec21 31 Dec20 30 Sept '23 31 DEC '22 31 DEC '21 30 Sept '23 31 DEC '22 31 DEC '21 CASH & EQUIVALENTS 2,959 3,851 2,778 BANK LOAN 1,680 611 1,146 ACCOUNT RECEIVABL
Slide 15: Our Next Phase of Rapid Growth
OUR NEXT PHASE OF RAPID GROWTH
Slide 16: Indonesia, Philippines, Vietnam and regional presence
as of September 2023 INDONESIA PHILIPPINES VIETNAM • 2,728 stores • 134 stores • 57 stores • 150+ exclusive brands • 12 exclusive brands • 15 exclusive brands THAILAND MALAYSIA SINGAPORE CAMBODIA • 16 stores • 37 stores • 28 stores • 8 stores • 12 exclusive brands • 4 exclusive brands • 5 exclusive
Slide 17: MAP is now fit for our next phase of rapid growth
After seizing opportunity to further strengthen our foundation during Covid-19 “MAP is now fit for our next phase of rapid growth” Overseas, 12% Others, 3% Sulawesi, 2% Sumatera, 6% Bali, 5% Jawa, 19% Jakarta, 54% 17
Slide 18: Managing huge brands in Indonesia and regional countries
Managing and marketing huge brands in Indonesia & Regional countries with large populations and strong GDP fundamentals by streamlining offline + online + all retail touch points to maximize sales potential. INDONESIA MALAYSIA SINGAPORE THAILAND VIETNAM PHILIPPINES CAMBODIA 18
Slide 19: Integrated data driven digital ecosystem
• Integrated data driven digital ecosystem • Engaging & satisfy our shoppers with seamless unification of purchase options across all physical, digital & social channels 19
Slide 20: Build an integrated data driven digital ecosystem
Build an integrated data driven digital ecosystem to refine our planning, purchasing, selling & speed to market across ASEAN. It unifies data from all our sales channels enabling more • A process to optimize the company’s inventories by online targeted services to the company’s most frequent access
Slide 21: Online platforms by segment
ACTIVE FASHION DIGITAL 3rd Party Marketplaces Planetsports.asia Newbalance ID ZARA ID DIGIMAP SHOPEE Sportsstation.id Converse ID ZARA VN LAZADA Lineashoes.com Converse PH ZARA Cambodia OTHERS TOKOPEDIA Footlocker ID Converse SG PULL & BEAR ZALORA Footlocker PH Converse MY MASSIMO DUTTI ID KINOKUNIY
Slide 22: Digital Performance
DIGITAL PERFORMANCE (IDR bn, %) 3rd Party 9M23 9M22 2022 2021 2020 2019 Marketplace Own CONTRIBUTION 8.5% 9.5% 9.0% 13.0% 10.9% 1.6% 40% Sites 60% 2,419 2,388 2,029 1,781 1,612 348 Digimap 14% Foodhall 9M23 9M22 2022 2021 2020 2019 2% Active F&B 43% 11% 9M23 Sales Contribution Dept Store 10% 8.5% Fa
Slide 23: Partnerships with Foot Locker and Sports Direct
Partnership with Foot Locker for omni channel retail in the markets of Ventured into Singapore and Malaysia Indonesia, Philippines, Thailand, Singapore, Malaysia & Vietnam. • A new major addition to MBA’s brand portfolio MAPI established an official partnership with Frasers Group through • 92 stores
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Slide 25: Appendix I: Company Overview
Appendix I: Company Overview 25
Slide 26: Milestones
MILESTONES Incorporation • Launch of MAP Club Started with Sports before 1995 2016 venturing into Fashion and • Launch of MAP Retail School Lifestyle • Ventured into Vietnam: 1st Zara Store Venture into Kids • Strategic partnership with 1997 General Atlantic for F&B (MBA) products (toys & • apparel)
Slide 27: 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 Johanes Ridwan Susiana Latif Commi
Slide 28: Shareholder Structure
SHAREHOLDER STRUCTURE PUBLIC 49.0% 51.0% PT SATYA MULIA GEMA GEMILANG MAP – as of 30th September 2023 Local Share Ownership 63,00% Foreign Share Ownership 37,00% Note: There is no affiliation between numbers of the board of Commissioners, the Board of Directors, or Majority and/or Controlling Shareh
Slide 29: Appendix II: Financials
aN Mitra Adiperkasa __# Financials 29
Slide 30: Financial Highlights (prior PSAK 73/IFRS 16)
FINANCIAL HIGHLIGHTS *Prior PSAK 73/IFRS16 (IDR bn, %) 9M23 9M22 GROWTH 3Q23 3Q22 GROWTH NET NET SALES 23,792 18,821 26.4% 8,198 6,573 24.7% GROSS PROFIT 10,876 8,497 28.0% 3,792 3,059 24.0% 45.7% 45.1% 46.3% 46.5% EBIT 2,364 1,997 18.4% 782 724 8.1% 9.9% 10.6% 9.5% 11.0% EBITDA EBITDA 3,061 2,638 1
Slide 31: Profitability
(IDR bn, %) PROFITABILITY *) Prior PSAK 73/ IFRS 16 EBIT 9M23 9M22 9M21 9M20 9M19 CORE PROFIT % Growth YoY 18.4% 661.9% 146.4% -140.9% 30.0% 9M23 9M22 9M21 9M20 9M19 % Growth YoY 19.7% 8426.2% 96.8% -172.7% 38.2% 2,364 1,997 1,861 1,555 ** 1,381 813 262 -565 -19 -591 9M23 9M22 9M21 9M20 9M19 9M23 9M
Slide 32: Specialty Store
SPECIALTY STORE *) After PSAK 73/ IFRS 16 In IDR BN 9M 23 9M 22 3Q 23 3Q 22 Net Revenue 18,440 14,337 6,395 4,963 % Growth 28.6% 62.3% 28.9% 145.9% EBIT *) 2,117 1,808 682 706 % Ebit Margin 11.5% 12.6% 10.7% 14.2% FASHION & BEAUTY ACTIVE DIGITAL ZARA 17 Outlets SPORTS STATION 340 Outlets DIGIMAP 66
Slide 33: Food & Beverage
FOOD & BEVERAGE *) After PSAK 73/ IFRS 16 In IDR BN 9M 23 9M 22 3Q 23 3Q 22 FOOD & BEVERAGE STARBUCKS COFFEE 581 Outlets Net Revenue 3,072 2,458 1,073 901 SUBWAY 92 Outlets % Growth 25.0% 48.8% 19.1% 89.2% PIZZA MARZANO 22 Outlets COLD STONE 19 Outlets EBIT *) 178 153 89 48 KRISPY KREME 35 Outlets G
Slide 34: Department Store
DEPARTMENT STORE *) After PSAK 73/ IFRS 16 In IDR BN 9M 23 9M 22 3Q 23 3Q 22 Net Revenue 1,883 1,671 621 559 % Growth 12.7% 33.4% 11.1% 56.1% EBIT *) 268 245 53 112 % Ebit Margin 14.2% 14.7% 8.6% 20.0% DEPARTMENT STORE SOGO 17 Outlets SEIBU 2 Outlets GALERIES LAFAYETTE 1 Outlets THE FOODHALL 38 Outl
Slide 35: 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