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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 includes Trading of clothes and accessories, sports equipment and accessories, toys and accessories, Cellular phones, tablets, computers and accessories. The Others segment includes property, investment, book store, handicraft trading and manufacturing. The company was founded on January 23, 1995 and is headquartered in Jakarta, Indonesia.

Financial Highlights

Dec 2021 IDRUSD
Revenue18,423.80B1,288.83M
Gross Profit5,479.27B383.30M
Operating income225,950M15.80M
Income before tax691,608M48.38M
Net income438,913M30.70M
EBITDA2,461.69B172.20M
Diluted EPS26.530.00
Dividends Per Share00
Total Assets16,783.04B1,177.55M
Total liabilities9,687.13B679.67M
Total equity5,875.07B412.21M
Operating cash flow2,897.39B202.68M
Currency in IDRCurrency in USD

Historical Data

 Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021
Revenue 16,305.73B 18,921.12B 21,637.30B 14,847.39B 18,423.80B
Gross Profit 7,174.60B 8,290.86B 9,488.75B 3,892.01B 5,479.27B
Operating income 1,014.81B 1,391.80B 1,938.25B -1,045.79B 225,950M
Income before tax 597,451.06M 1,173.41B 1,625.50B -723,806M 691,608M
Net income 334,651.30M 735,829M 933,493M -553,716M 438,913M
EBITDA 1,701.55B 2,158.94B 2,764.17B 1,282.65B 2,461.69B
Diluted EPS 20.20 44.49 56.44 -33.47 26.53
Dividends Per Share 4 10 0 0 0
Total Assets 11,504.52B 12,725.33B 13,937.11B 17,650.45B 16,783.04B
Total liabilities 7,262.10B 6,663.15B 6,566.57B 11,151.05B 9,687.13B
Total equity 4,037.83B 5,452.44B 6,171.00B 5,348.67B 5,875.07B
Operating cash flow 1,407.80B 1,626.47B 2,443.29B 1,208.01B 2,897.39B
 Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021
Revenue 1,218.50M 1,329.03M 1,530.04M 1,021.02M 1,288.83M
Gross Profit 536.14M 582.35M 670.98M 267.64M 383.30M
Operating income 75.83M 97.76M 137.06M -71.91M 15.80M
Income before tax 44.64M 82.42M 114.94M -49.77M 48.38M
Net income 25.00M 51.68M 66.01M -38.07M 30.70M
EBITDA 127.15M 151.64M 195.46M 88.20M 172.20M
Diluted EPS 0.00 0.00 0.00 -0.00 0.00
Dividends Per Share 0.00 0.00 0 0 0
Total Assets 847.94M 884.93M 1,003.93M 1,256.25M 1,177.55M
Total liabilities 535.25M 463.36M 473.01M 793.66M 679.67M
Total equity 297.61M 379.16M 444.51M 380.68M 412.21M
Operating cash flow 105.20M 114.24M 172.77M 83.07M 202.68M

Valuation Measures

Dec 2021
PER26.75
ROA2.54%
ROE7.82%
Operating margin1.22%
Profit margin2.38%

Key executives

  • President Director: Herman Bernhard Mantiri
  • Group Chief Financial Officer: Susiana Latif
  • Director & Head-Department Store: Handaka Santosa
  • Vice President-Investor Relations: Ratih Darmawan Gianda
  • Vice President Director: Virendra Prakash Sharma

Shareholders

  • KOLOMAS MARISA (51%)
  • PT Schroder Investment Management Indonesia (4.5%)
  • E. Ohman J :or Fonder AB (2.6%)
  • Fideuram Asset Management (Ireland) DAC (1.9%)
  • Norges Bank Investment Management (1.7%)
  • The Vanguard Group, Inc. (1.3%)
  • BlackRock Fund Advisors (1.0%)
  • Matthews International Capital Management LLC (1.0%)
  • Dimensional Fund Advisors LP (0.8%)
  • Baring Asset Management (Asia) Ltd. (0.5%)

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

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Competitors

    Last Updated on 4 Oct, 2022

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