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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 Department Stores segment is the operation of department stores such as Sogo, Lotus, Debenhams, Seibu, Alun-alun Indonesia, Galeries Lafayette, and Foodhall. The Cafe 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 2019 IDRUSD
Revenue21,578.74B1,525.90M
Gross Profit9,430.19B666.84M
Operating income1,900.47B134.38M
Income before tax1,625.50B114.94M
Net income933,493M66.01M
EBITDA2,734.61B193.37M
Diluted EPS56.440.00
Dividends Per Share00
Total Assets14,044.66B1,011.68M
Total liabilities6,674.11B480.75M
Total equity6,171.00B444.51M
Operating cash flow2,443.29B172.77M
Currency in IDRCurrency in USD

Historical Data

 Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019
Revenue 12,832.79B 14,149.61B 16,305.73B 18,921.12B 21,578.74B
Gross Profit 5,203.82B 6,249.82B 7,174.60B 8,290.86B 9,430.19B
Operating income 502,114.42M 866,000.74M 1,014.81B 1,391.80B 1,900.47B
Income before tax 148,089.12M 401,490.32M 597,451.06M 1,173.41B 1,625.50B
Net income 37,333.92M 208,475.79M 334,651.30M 735,829M 933,493M
EBITDA 1,085.94B 1,494.24B 1,701.55B 2,158.94B 2,734.61B
Diluted EPS -0.50 12.60 20.20 44.49 56.44
Dividends Per Share 0 2.50 4 10 0
Total Assets 9,561.23B 10,750.88B 11,504.52B 12,725.33B 14,044.66B
Total liabilities 6,586.32B 7,547.37B 7,262.10B 6,663.15B 6,674.11B
Total equity 2,974.89B 3,203.49B 4,037.83B 5,452.44B 6,171.00B
Operating cash flow 280,300.49M 1,251.09B 1,407.80B 1,626.47B 2,443.29B
 Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019
Revenue 957.86M 1,063.84M 1,218.50M 1,329.03M 1,525.90M
Gross Profit 388.42M 469.89M 536.14M 582.35M 666.84M
Operating income 37.47M 65.11M 75.83M 97.76M 134.38M
Income before tax 11.05M 30.18M 44.64M 82.42M 114.94M
Net income 2.78M 15.67M 25.00M 51.68M 66.01M
EBITDA 81.05M 112.34M 127.15M 151.64M 193.37M
Diluted EPS 0 0.00 0.00 0.00 0.00
Dividends Per Share 0 0.00 0.00 0.00 0
Total Assets 693.59M 797.98M 847.94M 884.93M 1,011.68M
Total liabilities 477.78M 560.20M 535.25M 463.36M 480.75M
Total equity 215.80M 237.78M 297.61M 379.16M 444.51M
Operating cash flow 20.92M 94.06M 105.20M 114.24M 172.77M

Valuation Measures

Dec 2019
PER18.69
ROA6.97%
ROE16.06%
Operating margin8.80%
Profit margin4.32%

Key executives

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

Shareholders

  • KOLOMAS MARISA (51%)
  • PT Schroder Investment Management Indonesia (3.4%)
  • Norges Bank Investment Management (3.2%)
  • E. Ohman J :or Fonder AB (2.4%)
  • Fiera Capital, Inc. (2.1%)
  • First State Investments (Singapore) (1.8%)
  • FIL Investment Management (Hong Kong) Ltd. (1.5%)
  • The Vanguard Group, Inc. (1.3%)
  • Dimensional Fund Advisors LP (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: +62.21.574.5808

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

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