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Retail Trade

PT Mitra Adiperkasa Tbk

Company Background

Mitra Adiperkasa is one of Indonesia's largest retail companies. Its franchise portfolio features more than 150 brands including Starbucks, Zara and Lacoste as well as department stores such as Debenhams and Seibu. The company had nearly 1,800 stores as of the end of 2013.

Mitra's vice president, Virendra Prakash Sharma, has been with the company since it started in 1995. He is known to be the key figure in building Mitra up from a few sports shops to a retail empire.

However, the company is now facing headwinds. In 2014, it cut back on expansion plans after its profit plunged due to a weakening rupiah, rising wages and intensifying competition. To revamp its poorly performing food and beverage business, it agreed with a Singapore-based investor, Everstone Capital, to sell a stake in its Burger King and Domino's Pizza franchises.

Business Summary

PT Mitra Adiperkasa Tbk engages in the retail trading of clothing, shoes, accessories, bags, and sports equipment. It operates through the following segments: Retail Sales, Department Stores, Cafe and Restaurant, and Others. The Retail Sales segment refers to the trading of clothes and accessories; sports equipment and accessories; as well as toys and accessories. The Others segment refers to property, investments, book store, and handicraft trading activities. The company was founded on January 23, 1995 and is headquartered in Jakarta, Indonesia.

Financial Highlights

Dec 2020 IDRUSD
Revenue14,847.39B1,021.02M
Gross Profit3,892.01B267.64M
Operating income-1,045.79B-71.91M
Income before tax-723,806M-49.77M
Net income-553,716M-38.07M
EBITDA1,282.65B88.20M
Diluted EPS-33.47-0.00
Dividends Per Share00
Total Assets17,650.45B1,256.25M
Total liabilities11,151.05B793.66M
Total equity5,348.67B380.68M
Operating cash flow1,208.01B83.07M
Currency in IDRCurrency in USD

Historical Data

 Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020
Revenue 14,149.61B 16,305.73B 18,921.12B 21,637.30B 14,847.39B
Gross Profit 6,249.82B 7,174.60B 8,290.86B 9,488.75B 3,892.01B
Operating income 866,000.74M 1,014.81B 1,391.80B 1,938.25B -1,045.79B
Income before tax 401,490.32M 597,451.06M 1,173.41B 1,625.50B -723,806M
Net income 208,475.79M 334,651.30M 735,829M 933,493M -553,716M
EBITDA 1,494.24B 1,701.55B 2,158.94B 2,764.17B 1,282.65B
Diluted EPS 12.60 20.20 44.49 56.44 -33.47
Dividends Per Share 2.50 4 10 0 0
Total Assets 10,750.88B 11,504.52B 12,725.33B 13,937.11B 17,650.45B
Total liabilities 7,547.37B 7,262.10B 6,663.15B 6,566.57B 11,151.05B
Total equity 3,203.49B 4,037.83B 5,452.44B 6,171.00B 5,348.67B
Operating cash flow 1,251.09B 1,407.80B 1,626.47B 2,443.29B 1,208.01B
 Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020
Revenue 1,063.84M 1,218.50M 1,329.03M 1,530.04M 1,021.02M
Gross Profit 469.89M 536.14M 582.35M 670.98M 267.64M
Operating income 65.11M 75.83M 97.76M 137.06M -71.91M
Income before tax 30.18M 44.64M 82.42M 114.94M -49.77M
Net income 15.67M 25.00M 51.68M 66.01M -38.07M
EBITDA 112.34M 127.15M 151.64M 195.46M 88.20M
Diluted EPS 0.00 0.00 0.00 0.00 -0.00
Dividends Per Share 0.00 0.00 0.00 0 0
Total Assets 797.98M 847.94M 884.93M 1,003.93M 1,256.25M
Total liabilities 560.20M 535.25M 463.36M 473.01M 793.66M
Total equity 237.78M 297.61M 379.16M 444.51M 380.68M
Operating cash flow 94.06M 105.20M 114.24M 172.77M 83.07M

Valuation Measures

Dec 2020
PER--
ROA-3.50%
ROE-9.61%
Operating margin-7.04%
Profit margin-3.72%

Key executives

  • President Director: Herman Bernhard Mantiri
  • Group Chief Financial Officer: Susiana Latif
  • Director & Head-Department Store: Handaka Santosa
  • Vice President Director: Virendra Prakash Sharma
  • Director & Head-Active Division: Michael David Capper

Shareholders

  • KOLOMAS MARISA (51%)
  • PT Schroder Investment Management Indonesia (4.8%)
  • Norges Bank Investment Management (3.0%)
  • E. Ohman J :or Fonder AB (2.9%)
  • First Sentier Investors (Singapore) (1.9%)
  • Fideuram Asset Management (Ireland) DAC (1.9%)
  • The Vanguard Group, Inc. (1.2%)
  • BlackRock Fund Advisors (0.9%)
  • Dimensional Fund Advisors LP (0.8%)
  • Motley Fool Asset Management LLC (0.7%)

Contact Details

  • Website:http://www.map.co.id
  • Address: Sahid Sudirman Center, Jalan Jenderal Sudirman Kavling 86, Jakarta, 10220, Indonesia
  • Phone: +62.21.574.5808

Related Companies

  • PT Mitra Gaya Indah
  • PT Mapple Mitra Adiperkasa
  • PT Sari Gemilang Makmur
  • PT Map Boga Adiperkasa Tbk
  • PT MAP Aktif Adiperkasa Tbk

Competitors

    Last Updated on 1 Dec, 2021

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