Pt Mitra Adiperkasa Tbk · IDX:MAPI
Pt Mitra Adiperkasa Tbk — Investor Presentation (September 2023)
35 slides from Pt Mitra Adiperkasa Tbk's investor presentation, September 2023
Slide 1: 1
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Slide 2: Table of Contents
TABLE OF CONTENTS 1 OVERVIEW OF MAP GROUP 1H/2Q 2023 FINANCIAL 2 HIGHLIGHTS STRATEGIES FOR 2023 & 3 BEYOND 4 APPENDIX 2
Slide 3: Overview of Group
OVERVIEW OF GROUP 3,264 150+ 110+ Retail Stores* + 31 online stores World Class Brands Retail Concepts + Presence in 3rd party online stores 80 Over 26,764 Cities** Employees * Data includes Burger King and Domino’s Pizza 3 ** Excluding regional countries
Slide 4: Brand portfolio by department stores, specialty stores, F&B
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 5: MAPI Retail Footprint 1H/2Q 2023
MAPI RETAIL FOOTPRINT 1H/2Q 2023 No. stores Space (sqm) CONSOLIDATED 2,872 1,002,488 DEPT STORE 58 332,121 SPC. STORE 1,994 455,344 ACTIVE 1,450 298,249 FASHION & BEAUTY 476 149,566 DIGITAL 68 7,529 F&B 770 203,027 OTHERS 50 11,996 Exclude: 173 Burger King & 219 Domino’s Pizza 5
Slide 6: 1H/2Q 2023 Financial Highlights
1H/2Q 2023 FINANCIAL HIGHLIGHTS 6
Slide 7: Financial Highlights
FINANCIAL HIGHLIGHTS *) After PSAK 73/ IFRS 16 (IDR bn, %) 1H23 1H22 GROWTH 2Q23 2Q22 GROWTH NET SALES 15,595 12,248 27.3% 8,132 6,615 22.9% GROSS PROFIT 7,073 5,432 30.2% 3,771 3,018 24.9% 45.4% 44.4% 46.4% 45.6% EBIT 1,734 1,324 30.9% 1,069 836 27.9% 11.1% 10.8% 13.2% 12.6% EBITDA 2,952 2,401 23.0
Slide 8: Net Sales & Growth
NET SALES & GROWTH (IDR bn, %) 1H23 1H22 1H21 1H20 1H19 % GROWTH YoY 27.3% 34.1% 33.9% -32.1% 10.4% 15,595 NET SALES 12,248 10,042 9,135 6,822 1H23 1H22 1H21 1H20 1H19 8
Slide 9: Profitability
PROFITABILITY *) Prior PSAK 73/ IFRS 16 (IDR bn, %) 1H23 1H22 2022 2019 Gross Margin 45.4% 44.4% 44.7% 47.7% EBIT Margin 10.1% 10.4% 10.8% 9.2% EBITDA Margin 13.0% 13.9% 14.0% 13.2% 2,904 EBIT 1,989 1,582 1,272 1H23 1H22 2022 2019 9
Slide 10: Inventory Level
INVENTORY LEVEL (Days, IDR bn, %) AGING INVENTORY 1H23 1Q23 2022 2022 2021 2021 2020 2020 2019 2019 > 6 Months 24% 25% 43% 38% 23% 152 125 INVENTORY DAYS 109 104 102 1H23 2022 2021 2020 2019 Our ability to absorb and utilize data has greatly increased year after year, resulting in a significantly fa
Slide 11: Debt Structure & Leverage
DEBT STRUCTURE & LEVERAGE (IDR bn, %) LEVERAGE* 1H23 2022 2021 2020 2019 NET DER -18% -33% -23% -4% -4% BLENDED COF 6.1% 5.8% 5.4% 6.6% 6.9% 3,240 2,504 1,994 1,633 1,507 1,146 962 611 284 310 1H23 2022 2021 2020 2019 Gross Debt Net Cash *) Exclude zero coupon bond (GA) 11
Slide 12: Financial Charges Structure
FINANCIAL CHARGES STRUCTURE (IDR bn) 1H23 2022 2021 2020 Interest expense on loans 50 94 193 214 Amortized interest - 26 28 29 on zero coupon bond Interest expense on 155 362 279 309 lease liabilities (non-cash item) FINANCE CHARGES 552 482 500 205 1H23 2022 2021 2020 *) no restatement for FY19 book
Slide 13: Balance Sheet
BALANCE SHEET (IDR bn) As of As of As of As of As of As of ASSETS LIABILITIES & EQUITY 30 JUNE '23 31 DEC '22 31 DEC '21 LIABILITIES & As 30 of JUNE '23 As 31of AsDEC DEC '22 31 of '21 EQUITY 31 Dec22 31 Dec21 31 Dec20 CASH & EQUIVALENTS 2,980 3,851 2,778 BANK LOAN 986 611 1,146 ACCOUNT RECEIVABLES
Slide 14: Of Rapid Growth
OF RAPID GROWTH —— —
Slide 15: Strengthened foundation during Covid-19; fit for 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, 10% Others, 2% Sulawesi, 2% Sumatera, 6% Bali, 5% Jawa, 19% Jakarta, 56% 15
Slide 16: 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 VIETNAM PHILIPPINES CAMBODIA 16
Slide 17: 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 17
Slide 18: 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 19: Digital Retail Stores
DIGITAL RETAIL STORES ACTIVE FASHION DIGITAL • Planet Sports.Asia • Zara ID • Digimap • Sports Station • Zara VN • Foot Locker ID • Zara Cambodia • Foot Locker PH • Massimo Dutti ID OTHERS • Kidz Station • Massimo Dutti VN • Kinokuniya • Linea Shoes • Pull and Bear • Converse • Stradivarius • Crocs
Slide 20: Digital Performance
DIGITAL PERFORMANCE (IDR bn, %) 1H23 1H22 2022 2021 2020 2019 3rd Party CONTRIBUTION 8.2% 9.4% 9.0% 13.0% 10.9% 1.6% Marketplaces 39% 2,419 2,388 Own Sites 61% 1,612 1,286 Own sites 3rd Party Marketplaces 1,156 348 Digimap 14% Foodhall 1H23 1H22 2022 2021 2020 2019 2% Active 41% F&B 1H23 Sales Contr
Slide 21: Partnerships with Foot Locker and Frasers Group
Partnership with Foot Locker for omni channel retail in the markets of Ventured into Singapore and Malaysia Indonesia, Philippines, Thailand, Singapore and Malaysia. • A new major addition to MBA’s brand portfolio MAPI established an official partnership with Frasers Group through • 79 stores in Ind
Slide 22: ae Rens
bi) en ae Rens
Slide 23: Appendix I: Company Overview
Appendix I: Company Overview 23
Slide 24: 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 25: 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 26: Shareholder Structure
SHAREHOLDER STRUCTURE PUBLIC 49.0% 51.0% PT SATYA MULIA GEMA GEMILANG MAP – as of 30th June 2023 Local Share Ownership 64,47% Foreign Share Ownership 35,53% Note: There is no affiliation between numbers of the board of Commissioners, the Board of Directors, or Majority and/or Controlling Shareholder
Slide 27: Appendix II: Financials
Appendix II: Financials 27
Slide 28: Financial Highlights (prior PSAK 73/IFRS 16)
FINANCIAL HIGHLIGHTS *Prior PSAK 73/IFRS16 (IDR bn, %) 1H23 1H22 GROWTH 2Q23 2Q22 GROWTH 4Q22 vs. 4Q21 NET SALES 15,595 12,248 27.3% 8,132 6,615 22.9% GROSS PROFIT 7,084 5,439 30.3% 3,777 3,022 25.0% 45.4% 44.4% 46.4% 45.7% EBIT 1,582 1,272 24.3% 954 819 16.5% 10.1% 10.4% 11.7% 12.4% EBITDA 2,035 1,
Slide 29: Profitability
(IDR bn, %) PROFITABILITY *) Prior PSAK 73/ IFRS 16 EBIT 1H23 1H22 1H21 1H20 1H19 CORE PROFIT % Growth YoY 24.3% 112.0% 260.8% -137.5% 38.0% 1H23 1H22 1H21 1H20 1H19 % Growth YoY 21.3% 194.6% 192.8% -162.1% 50.6% 1,582 1,272 1,246 995 1,027 ** 600 605 349 -373 -375 1H23 1H22 1H21 1H20 1H19 1H23 1H22
Slide 30: Specialty Store
SPECIALTY STORE *) After PSAK 73/ IFRS 16 In IDR BN 1H 23 1H 22 2Q 23 2Q 22 Net Revenue 12,045 9,374 6,267 5,057 % Growth 28.5% 37.5% 23.9% 40.8% EBIT *) 1,434 1,102 928 709 % Ebit Margin 11.9% 11.8% 14.8% 14.0% FASHION & BEAUTY ACTIVE DIGITAL ZARA 18 Outlets SPORTS STATION 343 Outlets DIGIMAP 58 Ou
Slide 31: Food & Beverage
FOOD & BEVERAGE *) After PSAK 73/ IFRS 16 FOOD & BEVERAGE In IDR BN 1H 23 1H 22 2Q 23 2Q 22 STARBUCKS COFFEE 566 Outlets Net Revenue 1,999 1,557 1,042 848 SUBWAY 79 Outlets PIZZA MARZANO 21 Outlets % Growth 28.4% 32.4% 23.0% 35.7% COLD STONE 19 Outlets EBIT *) 89 106 58 53 KRISPY KREME 35 Outlets GO
Slide 32: Department Store
DEPARTMENT STORE *) After PSAK 73/ IFRS 16 In IDR BN 1H 23 1H 22 2Q 23 2Q 22 Net Revenue 1,262 1,112 652 608 % Growth 13.6% 24.3% 7.3% 26.8% EBIT *) 215 133 103 97 % Ebit Margin 17.0% 12.0% 15.8% 16.0% DEPARTMENT STORE SOGO 17 Outlets SEIBU 2 Outlets GALERIES LAFAYETTE 1 Outlets THE FOODHAL 38 Outle
Slide 33: Appendix III: Additional information
Appendix III: Additional information 33
Slide 34: PSBB & PPKM Timeline
PSBB & PPKM TIMELINE 2020 – 2022 10 Apr – 14 Sep – 21 Dec’20 9 Feb – 3 Jul – 10 Aug – 2 Nov’21 – 19 Apr – 4 Jun’20 11 Oct’20 – 8 Jan’21 28 Jun’21 2 Aug’21 4 Oct’21 21 Feb ’22 15 Aug’22 PSBB I Phase 1-3 PPKM Year End PPKM Micro Emergency PPKM PPKM Level 2-4 PPKM Level 1-3 PPKM Level 1-2 PSBB Tight Ma
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
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