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Retail Trade

PT Mitra Adiperkasa Tbk

  • 775.00 IDR
  • -20.00
  • -2.52%
  • Indonesia
    Aug 16, 2018
  • Ticker
    JKT(MAPI)
  • Prev. close
    795
  • Market cap (IDR)
    13,197.00B
  • Market cap (USD)
    903.28M
  • Shares
    16,600.00M

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, Café 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 Department Stores segment is the operation of department stores such as Sogo, Lotus, Debenhams, Seibu, Alun-alun Indonesia, Galeries Lafayette, and Foodhall. The Café and Restaurants is responsible for the management and operation of Chatter Box, Starbucks, Pizza Marzano, Pizza Express, Cold Stone Creamery, Krispy Kreme, Genki Sushi, and Jamba Juice. 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 2017 IDRUSD
Revenue16,305.73B1,218.50M
Gross Profit7,174.60B536.14M
Operating income1,014.81B75.83M
Income before tax597,451.06M44.64M
Net income334,651.30M25.00M
EBITDA1,701.55B127.15M
Diluted EPS20.200.00
Dividends Per Share40.00
Total Assets11,504.52B847.94M
Total liabilities7,262.10B535.25M
Total equity4,037.83B297.61M
Operating cash flow1,407.80B105.20M
Currency in IDRCurrency in USD

Historical Data

 Dec 2013Dec 2014Dec 2015Dec 2016Dec 2017
Revenue 9,734.23B 11,822.10B 12,832.79B 14,149.61B 16,305.73B
Gross Profit 4,398.06B 4,921.76B 5,203.82B 6,249.82B 7,174.60B
Operating income 751,017.97M 510,720.37M 502,114.42M 866,000.74M 1,014.81B
Income before tax 472,168.97M 177,693.82M 148,089.12M 401,490.32M 597,451.06M
Net income 327,792.28M 79,061.00M 37,333.92M 208,475.79M 334,651.30M
EBITDA 1,206.69B 1,063.57B 1,085.94B 1,494.24B 1,701.55B
Diluted EPS 19.70 4.80 -0.50 12.60 20.20
Dividends Per Share 2 0 0 2.50 4
Total Assets 7,861.61B 8,777.35B 9,561.23B 10,750.88B 11,504.52B
Total liabilities 5,433.73B 6,244.52B 6,586.32B 7,547.37B 7,262.10B
Total equity 2,427.86B 2,463.16B 2,974.89B 3,203.49B 4,037.83B
Operating cash flow 122,196.70M 204,326.75M 280,300.49M 1,251.09B 1,407.80B
 Dec 2013Dec 2014Dec 2015Dec 2016Dec 2017
Revenue 931.68M 996.48M 957.86M 1,063.84M 1,218.50M
Gross Profit 420.94M 414.85M 388.42M 469.89M 536.14M
Operating income 71.88M 43.04M 37.47M 65.11M 75.83M
Income before tax 45.19M 14.97M 11.05M 30.18M 44.64M
Net income 31.37M 6.66M 2.78M 15.67M 25.00M
EBITDA 115.49M 89.64M 81.05M 112.34M 127.15M
Diluted EPS 0.00 0.00 0 0.00 0.00
Dividends Per Share 0.00 0 0 0.00 0.00
Total Assets 645.98M 708.70M 693.59M 797.98M 847.94M
Total liabilities 446.48M 504.20M 477.78M 560.20M 535.25M
Total equity 199.49M 198.88M 215.80M 237.78M 297.61M
Operating cash flow 11.69M 17.22M 20.92M 94.06M 105.20M

Valuation Measures

Dec 2017
PER30.69
ROA3.00%
ROE9.24%
Operating margin6.22%
Profit margin2.05%

Key executives

  • President Director: Herman Bernhard Mantiri
  • Group Chief Financial Officer & Director: Susiana Latif
  • Head-Information Technology & E-Commerce: S. Ravi Kumar
  • Vice President Director: Virendra Prakash Sharma
  • Director & Head-Active Division: Michael David Capper

Shareholders

  • City National Rochdale LLC (19.6%)
  • PT Mitralestari Adiperkasa (5.1%)
  • PT Schroder Investment Management Indonesia (3.3%)
  • Norges Bank Investment Management (2.8%)
  • FIL Investment Management (Hong Kong) Ltd. (1.4%)
  • The Vanguard Group, Inc. (1.2%)
  • Dimensional Fund Advisors LP (1.1%)
  • First State Investment Management (UK) Ltd. (1.0%)
  • TT International (1.0%)
  • Motley Fool Asset Management LLC (0.8%)

Contact Details

  • Website:http://www.map.co.id
  • Address: Sahid Sudirman Center, Jalan Jenderal Sudirman Kavling 86, Jakarta, 10220, Indonesia
  • Phone: +62.21.8064.8498

Related Companies

  • PT Sari Gemilang Makmur
  • PT Map Boga Adiperkasa
  • PT MAP Aktif Adiperkasa

Competitors

    Last Updated on 16 Aug, 2018

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