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Retail Trade

PT Sumber Alfaria Trijaya Tbk

Company Background

Founded in 1989 by Chinese-Indonesian businessman Djoko Susanto, Sumber Alfaria Trijaya started out as a distribution company before entering the convenience store market in 1999.

The company's main brand is Alfamart with nearly 10,000 stores across the archipelago. It also recently opened Alfamart stores in the Philippines, through a joint venture with local conglomerate SM Group.

SAT also operates Alfamidi mini supermarkets and Lawson, the Japanese convenience store chain, through its listed subsidiary Midi Utama Indonesia.

In 2011, Japanese trading house Mitsubishi Corp. entered an equity partnership with SAT to import food and consumer goods brands into Indonesia. It has since formed several joint ventures with food and beverage companies such as Japan's Yamazaki Baking.

Susanto is SAT's chairman, and several of his children are involved in managing the business.

Business Summary

PT Sumber Alfaria Trijaya Tbk engages in the retail distribution of consumer products through mini-market networks under the name Alfamart. It operates through the following business segments: Food, Non-Food Products and Services. The company was founded by Djoko Susanto on February 22, 1989 and is headquartered in Tangerang, Indonesia.

Financial Highlights

Dec 2021 IDRUSD
Gross Profit14,322.76B1,001.95M
Operating income1,803.69B126.17M
Income before tax2,423.25B169.51M
Net income1,950.99B136.48M
Diluted EPS46.980.00
Dividends Per Share18.780.00
Total Assets27,493.74B1,929.04M
Total liabilities18,503.95B1,298.29M
Total equity8,790.74B616.78M
Operating cash flow6,137.94B429.38M
Currency in IDRCurrency in USD

Historical Data

 Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021
Revenue 61,464.90B 66,817.30B 72,944.98B 75,826.88B 84,904.30B
Gross Profit 10,633.85B 11,755.76B 13,149.63B 12,336.23B 14,322.76B
Operating income 383,924M 614,743M 860,125M 727,308M 1,803.69B
Income before tax 333,638M 831,658M 1,414.13B 1,352.46B 2,423.25B
Net income 300,275M 650,138M 1,112.51B 1,061.47B 1,950.99B
EBITDA 1,751.38B 2,081.46B 2,252.42B 3,809.29B 5,161.93B
Diluted EPS 7.23 15.65 26.79 25.56 46.98
Dividends Per Share 2.17 6.24 13.38 15.33 18.78
Total Assets 21,901.74B 22,165.96B 23,992.31B 25,970.74B 27,493.74B
Total liabilities 16,651.57B 16,148.41B 17,108.00B 18,334.41B 18,503.95B
Total equity 5,107.89B 5,856.46B 6,696.94B 7,422.10B 8,790.74B
Operating cash flow 2,681.16B 5,435.67B 5,080.83B 6,342.23B 6,137.94B
 Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021
Revenue 4,593.17M 4,693.28M 5,158.18M 5,214.44M 5,939.49M
Gross Profit 794.65M 825.73M 929.85M 848.33M 1,001.95M
Operating income 28.69M 43.17M 60.82M 50.01M 126.17M
Income before tax 24.93M 58.41M 99.99M 93.00M 169.51M
Net income 22.43M 45.66M 78.66M 72.99M 136.48M
EBITDA 130.87M 146.20M 159.27M 261.95M 361.10M
Diluted EPS 0.00 0.00 0.00 0.00 0.00
Dividends Per Share 0.00 0.00 0.00 0.00 0.00
Total Assets 1,614.27M 1,541.44M 1,728.24M 1,848.45M 1,929.04M
Total liabilities 1,227.31M 1,122.97M 1,232.34M 1,304.94M 1,298.29M
Total equity 376.48M 407.26M 482.40M 528.26M 616.78M
Operating cash flow 200.35M 381.80M 359.28M 436.14M 429.38M

Valuation Measures

Dec 2021
Operating margin2.12%
Profit margin2.29%

Key executives

  • President Director: Anggara Hans Prawira
  • Operation Director: Mudunsen
  • Finance Director & Secretary: Tomin Widian
  • Director-International Business & Technology: Bambang Setyawan Djojo
  • Director-License & Corporate Affairs: Solihin


  • PT Sigmantara Alfindo (52.7%)
  • Mitsubishi Corp. (4.9%)
  • T. Rowe Price Associates, Inc. (Investment Management) (0.8%)
  • BlackRock Fund Advisors (0.7%)
  • Norges Bank Investment Management (0.5%)
  • BlackRock Advisors (UK) Ltd. (0.2%)
  • Geode Capital Management LLC (0.1%)

Contact Details

  • Website:
  • Address: Alfa Tower, 12 Floor, Jalan Jalur Sutera Barat Kav 9, Tangerang, 15143, Indonesia
  • Phone: +62.21.8082.1555

Related Companies

  • PT Global Loyalti Indonesia
  • PT Lancar Wiguna Indonesia
  • PT Sumber Indah Lestari
  • PT Midi Utama Indonesia Tbk


  • PT Matahari Putra Prima Tbk
  • PT Hero Supermarket Tbk
  • Lawson, Inc.
  • Koninklijke Ahold Delhaize N.V.
  • AEON Co., Ltd.
  • PT Supra Boga Lestari Tbk
  • PT Ramayana Lestari Sentosa Tbk
  • Alimentation Couche-Tard Inc.
  • Lotte Shopping Co., Ltd
  • CK Hutchison Holdings Ltd
  • Philippine Seven Corporation
  • Puregold Price Club Inc.
Last Updated on 4 Oct, 2022

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