21 slides from Pt Ramayana Lestari Sentosa Tbk's earnings presentation, March 2016
Slide 1: Ramayana
Ramayana PT. RAMAYANA LESTARI SENTOSA, Tbk MARCH 2016
Slide 2: Who Are We?
WHO ARE WE? • One of the largest department store operators in Indonesia • Established in 1978 • Market leader in middle-low and lower retail segment • Offers full range of clothing, shoes & bags, toys & stationery, housewares and supermarket • Operates 113 stores in 54 major cities with total gross
Slide 3: Shareholding Info
SHAREHOLDING INFO • Went public in July 1996 • Outstanding shares : 7,096 billion • Market capitalization : IDR 5,04 trillion or USD 379,49 mn (as of 31 March 2016) • Ownership structure : – PT Ramayana Makmur Sentosa : 55.88% – Paulus Tumewu : 3.66% – Free float : 40.46% • Payout ratio : – 2010 : 5
Slide 4: What We Sell
WHAT WE SELL WOMEN 10.5% FRESH, FOOD, DRINK & TOILETRIES 26.5% MEN 27.1% TOYS, STATIONERY & HOUSEWARES 5.4% SPECIAL BUY 1.5% CHILDREN SHOES, BAGS & 6.4% ACCESSORIES 22.7% 3
Slide 5: Gross Margin
GROSS MARGIN in % 3M15 3M16 Women 32,0 31,5 Men 30,1 30,2 Children 31,6 32,7 S. B. A. 27,5 27,4 Special Buy 27,1 33,4 Clothing 29,5 29,8 Toys & Stationery 22,6 25,3 Housewares 22,4 20,9 Home 22,4 22,3 Supermarket 5,5 8,9 Total 21,8 23,8 4
Slide 6: Net Sales
NET SALES in bn Rp 10,000 7,968 7,942 7,454 7,786 8,000 6,000 4,000 2,000 1,485 0 2012 2013 2014 2015 3M 16 5
Slide 7: Net Profit
NET PROFIT in bn Rp 500 424 391 355 400 336 300 200 100 9 - 2012 2013 2014 2015 3M16 6
Slide 8: Financial Highlights
FINANCIAL HIGHLIGHTS 2014 2015 Vs LY Sales 7.942 100,0% 7.786 100,0% -2,0% Gross profit 2.048 25,8% 1.996 25,6% -2,5% Operating expenses 1.754 22,1% 1.762 22,6% 0,5% Operating profit/EBIT 299 3,7% 251 3,2% -16,1% Net profit 355 4,5% 336 4,3% -5,4% Amount in Rp bn, unless otherwise stated 3M15 3M16 V
Slide 9: Competition
COMPETITION • Small organized regional retailers, such as : - Borobudur (Greater Jakarta) - Yogya (West Java) - Sri Ratu (Central Java) - Hardy’s (Bali) - Suzuya (Sumatra) • Trade centers, mostly in Greater Jakarta • Mini markets 8
Slide 10: Current Presence & Expansion Plan
CURRENT PRESENCE & EXPANSION PLAN Greater Jakarta 40 stores : 302.523 sqm ( 31,2% ) Sumatera 22 stores : 213.480 sqm ( 22,0% West Java 13 stores : 117.506 sqm ( 12,1% ) Kalimantan 9 stores : 92.652 sqm ( 9,5% Central Java 6 Stores : 40.562 sqm ( 4,2% ) Bali, NT, Maluku 5 stores : 43.381 sqm ( 4,5% E
Slide 11: Highlights / Problems
HIGHLIGHTS / PROBLEMS • Overall high increase in minimum wage and low inflation would benefit & increase disposable income of the segment who is targeted by Ramayana. • The high increase in minimum wage could also result in high retrenchment if the industry cannot afford the increase in wages. • Con
Slide 12: Prospect
PROSPECT • Serving a huge prosperous population base in middle, middle to low income segment. • Consumer demand in middle and middle to low segment continues to be strong if economic conditions improve. • Projections of Indonesia’s positive economic condition for the next years. • Overseas remittanc
Slide 13: Ramayana Sales Trend & Projection (Unaudited)
RAMAYANA SALES TREND & PROJECTION ( UNAUDITED ) Projected Net Sales - 2016 Actual Net Sales - 2016 MONTHLY QUARTERLY CUMMULATIVE SALES SSG GROWTH CUMMULATIVE MONTH MONTH (Rp bn) (%) (Rp bn) (%) (Rp bn) (%) (Rp bn) (YTD) (YTD) (Rp bn) (%)* Jan 545.3 6.6% 545.3 6.6% Jan 548.4 5.5% 5.8% 548.4 6.6% Feb
Slide 14: Changes in Space Year to Date 2013
PT Ramayana Lestari Sentosa Tbk. Changes in Space Year to Date 2013 Category Code Address City G. Space N. Space Supermarket Date Status D-Date Opened R107 Jl.H.R Lukman, Link. Kayu Manis, Kab Bogor Cibinong 12,656 11,447 Full Supermarket Mär.13 JIL Mär.13 Opened R108 Jl.Raya Bogor, Cililitan, Jakar
Slide 15: Stores Breakdown per Region (Year to Date)
PT Ramayana Lestari Sentosa Tbk.'s Stores Breakdown per Region (Year to Date) Gross Net Gross Net Avg. Gross Avg. Net Region % # of Stores Space (m2) Space (m2) Space (%) Space (%) Space (m2) Space (m2) Greater Jakarta 35.4% 40 302,523 221,797 31.2% 31.2% 7,563 5,545 Jakarta 16.8% 19 118,279 92,006
Slide 16: List of Stores
PT Ramayana Lestari Sentosa Tbk.'s List of Stores NO CODE ADDRESS CITY REGION G. SPACE N. SPACE SUPERMARKET OPEN DATE STATUS 1 C001 Jl. Taman Mini Raya East Jakarta Jakarta 7,453 4,950 None Jul.06 Owned 2 R02 Pulo Gadung Trade Center, Jl. Raya Bekasi km 21 Bekasi Bodetabek 9,000 5,946 Full Supermark
Slide 17: List of Stores
PT Ramayana Lestari Sentosa Tbk.'s List of Stores NO CODE ADDRESS CITY REGION G. SPACE N. SPACE SUPERMARKET OPEN DATE STATUS 68 R70 Jl. Pengayoman Makassar South Sulawesi 8,185 7,444 Dry Grocery Sep.05 Private 69 R71 Jl. Juanda Bogor Bodetabek 7,569 5,436 SPAR Dez.05 Private 70 R73 Jl. Emmy Saelan P
Slide 18: Income Statement as of 31 March 2015 & 2016
PT RAMAYANA LESTARI SENTOSA Tbk. INCOME STATEMENT as of 31 March 2015 & 2016 (Unauditted) (Expressed in Millions Rupiah) Description 3M15 % sales 3M16 % sales % Change REVENUES Outright sales 995,161 66.7% 957,576 64.5% -3.8% Consignment sales 497,083 33.3% 527,573 35.5% 6.1% Cost of consignment sal
Slide 19: Balance Sheet as of 31 March 2015 & 2016
PT RAMAYANA LESTARI SENTOSA Tbk. BALANCE SHEET as of 31 March 2015 & 2016 (Unauditted) (Expressed in Millions of Rupiah) Description 31.03.2015 % Asset 31.03.2016 % Asset % Change Current assets Cash & cash equivalents 364,215 8.3% 506,282 11.7% 39.0% Time deposits 1,024,372 23.4% 950,264 21.9% -7.2
Slide 20: Income Statement as of 31 December 2014 & 2015
PT RAMAYANA LESTARI SENTOSA Tbk. INCOME STATEMENT as of 31 December 2014 & 2015 (Auditted) (Expressed in Millions Rupiah) Description FY14 % sales FY15 % sales % Change REVENUES Outright sales 5,131,375 64.6% 4,788,667 61.5% -6.7% Consignment sales 2,810,340 35.4% 2,997,527 38.5% 6.7% Cost of consig
Slide 21: Balance Sheet as of 31 December 2014 & 2015
PT RAMAYANA LESTARI SENTOSA Tbk. BALANCE SHEET as of 31 December 2014 & 2015 (Auditted) (Expressed in Millions of Rupiah) Description 31.12.2014 % Asset 31.12.2015 % Asset % Change Current assets Cash & cash equivalents 625,373 13.7% 844,253 18.5% 35.0% Time deposits 1,026,105 22.5% 984,004 21.5% -4