Pt Mitra Adiperkasa Tbk · IDX:MAPI
Pt Mitra Adiperkasa Tbk — H1 2024 Earnings Presentation
22 slides from Pt Mitra Adiperkasa Tbk's earnings presentation, 2024
Slide 1: Mitra Adiperkasa Unaudited Result
66g Mitra Adiperkasa | UNAUDITED RESULT
Slide 2: Table of Contents
Table of Contents •Indonesia Macroeconomic Indicators •Overview of MAP Group •H1/Q2 2024 Financial Highlight •Appendix
Slide 3: Indonesia 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) Quarter Q1 Q2 Q3 Q4 (%) Inflation 2017 5.0 5.0 5.1 5.2 7.0 2018 5.1 5.3 5.2 5.2 6.0 2019 5.1 5.1 5.0 5.0 5.0 2020
Slide 4: Overview of Group
OVERVIEW OF GROUP 3,378 150+ 110+ Retail Stores + 49 online stores World Class Brands Retail Concepts + Presence in 3rd party online stores Over 80 29,431 Cities** Employees ** Excluding regional countries 4
Slide 5: Brand portfolio by store category
Department Food & Specialty Stores Others Stores Beverage Active Fashion & Beauty Digital SOGO Sports Tabata Energetics Zara Travelogue Sephora Digimap Starbucks Coffee Kinokuniya SEIBU Sports Station 2XU Champion Massimo Dutti Max Mara Sulwhasoo Digiplus Subway Alun Alun Indonesia Galeries Lafayett
Slide 6: Retail Footprint H1 2024
RETAIL FOOTPRINT H1 2024 “” Space (sqm) ’ Consolidated 3,378 1,120,019 = Department Store 60 329,408 Specialty Store 2,465 562,436 Active 1,789 377,474 Fashion & Beauty 539 170,844 Digital 137 14,118 ge 848 220,026 5 8,150
Slide 7: H1/Q2 2024 Financial Highlights
H1/Q2 2024 FINANCIAL HIGHLIGHTS 7
Slide 8: H1 and Q2 2024 financial results
*) After PSAK 73/ IFRS 16 H1 H1 Q2 Q2 in IDR Billion % Growth % Growth 2024 2023 2024 2023 Net Sales 17,993 15,595 15.4% 9,205 8,132 13.2% Gross Profit 7,795 7,073 10.2% 4,048 3,771 7.3% % Margin 43.3% 45.4% 44.0% 46.4% EBIT 1,616 1,734 -6.8% 903 1,069 -15.5% % Margin 9.0% 11.1% 9.8% 13.2% EBITDA 3,
Slide 9: Q2 vs Q1 2024 results
*) After PSAK 73/ IFRS 16 Q2 Q1 % Growth in IDR Billion 2024 2024 QoQ Net Sales 9,205 8,788 4.7% Gross Profit 4,048 3,748 8.0% % Margin 44.0% 42.6% EBIT 903 713 26.7% % Margin 9.8% 8.1% EBITDA 1,583 1,462 8.3% % Margin 17.2% 16.6% Net Profit 574 501 14.6% % Margin 6.2% 5.7% NPATMI 485 414 17.2% % Ma
Slide 10: Net sales growth YoY H1 2024
(IDR bn, %) % GROWTH H1 24 H1 23 H1 22 H1 21 H1 20 YoY 15.4% 27.3% 34.1% 33.9% -32.1% 17,993 NET SALES 15,595 12,248 9,135 6,822 H124 H123 H122 H121 H120 10
Slide 11: Inventory days and aging inventory
(Days, IDR bn, %) Aging Inventory H1 24 2023 2022 2021 2020 2019 > 6 month 28% 23% 25% 43% 38% 23% 152 137 126 125 109 102 INVENTORY DAYS 11
Slide 12: Balance sheet
(IDR bn) As of As of As of LIABILITIES &EQUITY As of As of As As of of Asof As of ASSETS LIABILITIES & 30 JUNE '24 31 DEC '23 31 DEC '22 30 JUNE '24 31 DEC '23 31 DEC '22 EQUITY 31 Dec22 31 Dec21 31 Dec20 CASH & EQUIVALENTS 2,935 3,675 3,851 BANK LOAN 3,411 2,885 611 ACCOUNT RECEIVABLES 1,167 1,145
Slide 13: Stores and brands by country
as of June 2024 INDONESIA PHILIPPINES VIETNAM • 2,978 stores • 204 stores • 51 stores • 150+ exclusive brands • 20 exclusive brands • 15 exclusive brands THAILAND MALAYSIA SINGAPORE CAMBODIA • 46 stores • 56 stores • 32 stores • 11 stores • 14 exclusive brands • 5 exclusive brands • 7 exclusive bran
Slide 14: Sales by region
as of June 2024 Overseas 16% Others 3% Sulawesi Jakarta 2% 53% Sumatera 5% Bali 4% Jawa 17% 14
Slide 15: Brands by Active, Fashion, Digital and Others
ACTIVE FASHION DIGITAL OTHERS Planetsports.asia Newbalance ID ZARA ID DIGIMAP ID KINOKUNIYA Sportsstation.id Converse ID ZARA VN DIGIMAP PH Lineashoes.com Converse PH ZARA Cambodia DIGIBOX VN 3rd Party Marketplaces Footlocker ID Converse SG PULL & BEAR DIGIBOX Cambodia SHOPEE Footlocker PH Converse
Slide 16: Contribution by channel, digital sales and segment
(IDR bn, %) CONTRIBUTION BY CHANNEL DIGITAL SALES PERFORMANCE H1 24 H1 23 2023 2022 2021 CONTRIBUTION 8.9% 8.2% 8.8% 9.0% 13.0% 3rd Party Marketplace Own Sites 2,933 49.3% 50.7% 2,419 + 24% 2,388 1,594 1,286 CONTRIBUTION BY SEGMENT Digimap 19% Foodhall 1% H1 24 H1 23 2023 2022 2021 Food & Beverage A
Slide 17: 17
17
Slide 18: Operating expenses in % of sales
*) After PSAK 73/ IFRS 16 in % of sales H1 24 H1 23 2023 2022 NET SALES 17,993 15,595 33,319 26,937 LABOR 11.3% 11.5% 11.3% 10.9% RENTAL 4.9% 4.3% 4.3% 3.5% DEPRECIATION & AMORT. 7.8% 7.7% 7.7% 8.8% UTILITIES 1.2% 1.2% 1.2% 1.2% A&P 1.5% 1.2% 1.7% 1.4% OTHERS 7.7% 8.3% 8.4% 7.5% TOTAL OPEX 34.3% 34.
Slide 19: Specialty Store
SPECIALTY STORE *) After PSAK 73/ IFRS 16 In IDR BN H1 24 H1 23 Q2 24 Q2 23 Net Revenue 14,892 12,045 7,587 6,267 % Growth 23.6% 28.5% 21.1% 23.9% EBIT *) 1,447 1,434 841 928 % Ebit Margin 9.7% 11.9% 11.1% 14.8% FASHION & BEAUTY ACTIVE DIGITAL ZARA 21 Stores SPORTS STATION 365 Stores DIGIMAP 129 Sto
Slide 20: Food & Beverage
FOOD & BEVERAGE *) After PSAK 73/ IFRS 16 In IDR BN H1 24 H1 23 Q2 24 Q2 23 FOOD & BEVERAGE STARBUCKS COFFEE 609 Stores Net Revenue 1,626 1,999 838 1,042 SUBWAY 105 Stores % Growth -18.7% 28.4% -19.6% 23.0% PIZZA MARZANO 22 Stores COLD STONE 18 Stores EBIT *) (48) 89 (22) 58 KRISPY KREME 35 Stores %
Slide 21: Department Store
DEPARTMENT STORE *) After PSAK 73/ IFRS 16 In IDR BN H1 24 H1 23 Q2 24 Q2 23 Net Revenue 1,323 1,262 703 652 % Growth 4.8% 13.6% 7.7% 7.3% EBIT *) 180 215 79 103 % Ebit Margin 13.6% 17.0% 11.3% 15.8% DEPARTMENT STORE SOGO 18 Stores SEIBU 2 Stores GALERIES LAFAYETTE 1 Stores THE FOODHALL 39 Stores TO
Slide 22: 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