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20231130_LPPF_Laporan Informasi dan Fakta Material_31543847_lamp3.pdf
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PRESS RELEASE
30 November 2023
Matahari Reports Progress on Its Initiatives
Through the Public Expose Liv e 2023 (“Pubex Liv e 2023”) organized by the I ndonesia
Stock Exchange (I DX), Matahari (“the Company”; stock code: “LPPF”) remains
committed to engaging w ith the inv estment community and prov iding v isibility and
accessibility to local inv estors. Matahari appreciates the opportunity to use the
platform to present to inv estors about its performance updates, challenges faced and
opportunities to tap into, as w ell as growth plans. The Company expects to build trust
and maintain a strong relationship w ith its shareholders.
I n the first nine months of 2023, Matahari earned sales of I DR 9.6 Trillion, reflecting a
grow th rate of 1.4%. The Same-Store Sales Grow th (SSSG) w as -2.3% due to the lack of
Lebaran stimulation and the softness in the economy. Matahari's EBITDA for the period
w as I DR 1.1 Trillion, a decrease compared to I DR 1.5 Trillion last year.
Ov erall merchandise productivity w ill be enhanced by maximizing inv entory sell-
through at full price. Efforts to maximize merchandising full potential are progressing
w ell, w ith the brand new label Suko w ell on track to grow beyond its 20 stores to the
next 14 stores, for a total of 34 stores by the end of 2023. A new private label, Anyday,
w as launched in October 2023 to counteract the impact of inflation for consumers.
I nitiatives to optimize the store netw ork are progressing w ell. The Company has
identified a small number of stores w ith marginal profitability, w hich w ill be closely
monitored under a new ly formed w atchlist. Expansion in 2024 w ill prioritize high-quality
stores ov er an increase in the number of stores opened. I n 2024, Matahari plans to
open six stores, w ith four being the latest Matahari concepts and tw o being MU&KU
stores. The MU&KU concept, catering to the upper-middle segment, has been
introduced to target dev elopers and is expected to be launched in the first half of
2024. Matahari intends to adv ance store rebranding efforts and allocate capital
expenditure tow ards higher-potential stores.
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About Matahari
Matahari is the largest retail platform in Indonesia, with 156 stores in 81 cities across
Indonesia as well as presence online on matahari.com, social commerce platform "Shop
& Talk", and third-party marketplaces. For over 60 years, Matahari has provided the
growing Indonesian middle class with quality, fashionable and affordable apparel,
beauty and footwear products. Matahari employs around 30,000 employees (in cluding
consignment SPGs) and partners with around 600 local as well as international suppliers.
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Menara Matahari 12th Floor T 62 21 547 5228
Jl. Boulevard Palem Raya No. 7 E corp.comm@matahari.com
Karawaci, Tangerang 15811, Indonesia www.matahari.com
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The Company has received many industry recognitions – nationally and internationally –
including the awards for the Best Overall Category and Top 50 Mid-Cap Public Listed
Companies In Indonesia at the 14 t h IICD Corporate Governance Conference & Award
2023, the Best W omen Empowerment Company 2023 with Outstanding Commitment in
Creating Respective W orkplace from HerStory, TrenAsia’s ESG Awards 2023, Fashion Retail
of The Year 2023 by HIPPINDO, Top 100 Most Valuable Brand by Brand Finance, Most
Improved Investor Relations and Top 5 Best Senior Management IR Support in 2022 from
Alpha Southeast Asia, Top 10 CSR Donor from IDX, Top Digital Company & Best Excellent
Service Experience Index Award 2022 from Marketing Magazine, Top 50 Most Valuable
Brand Awards 2021 from Brand Finance Indonesia, Top 500 Retail Asia Pacific from Retail
Asia, Euromonitor & KPMG; Brand Asia 2018 – Top 3 Most Powerful Retail Brands in
Indonesia from Nikkei BP Consulting, Inc. and W oW Brand Award 2019 – Gold Champion
from MarkPlus Inc. The Company also received the Netizen's Brand Choice Award 2018
from W arta Ekonomi. All of these awards reaffirm the Company's position as one of the
leading, most dynamic, and trusted companies in Indonesia.
For further information, please contact:
Corporate Communications / Investor Relations
Matahari
Tel: (62 21) 547 5228
E-mail: corp.comm@matahari.com, ir@matahari.com
____________________________________________________________________________________________________
This press release has been prepared by Matahari ("LPPF") and is circulated for the purpose of general information
only. It is not intended for any specific person or purpose and does not constitute a recommendation regarding the
securities of LPPF. No warranty (expressed or implied) is made to the accuracy or completeness of the information. All
opinions and estimations included in this release constitute our judgment as of this date and are subject to change
without prior notice. LPPF disclaims any responsibility or liability whatsoever arising which may be brought against or
suffered by any person as a result of reliance upon the whole or any part of the contents of this press release and
neither LPPF nor any of its affiliated companies and their respectiv e employees and agents accepts liability for any
errors, omissions, negligent or otherwise, in this press release and any inaccuracy herein or omission here from which
might otherwise arise.
Menara Matahari 12th Floor, T 62 21 547 5228
Jl. Boulevard Palem Raya No. 7 E corp.comm@matahari.com
Karawaci, Tangerang 15811, Indonesia www.matahari.com
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Forward-Looking Statements Certain statements in this release are or may be forward- looking statements. These statements typically contain words such as "will", "expects" and "anticipates" and words of similar import. By their nature, forward looking statements inv olve a number of risks and uncertainties that could cause actual events or results to differ materially from those described in this release. Factors that could cause actual results to differ include, but are not limited to, economic, social, health and political conditions in Indonesia; the state of the retail industry in Indonesia; prevailing market and operating conditions, raw material prices and Import restrictions; competition from other companies; shifts in customer demands; changes in operation expenses, including employee wages, benefits and training, gov ernmental and public policy changes; our ability to be and remain competitive; our financial condition, business strategy as w ell as the plans and objectiv es of our management for future operations;. Should one or more of these uncertainties or risks, among others, materialize, actual results may v ary materially from those estimated, anticipated or projected. Although we believ e that the expectations of our management as reflected by such forward -looking statements are reasonable based on information currently available to us, no assurances can be given that such expectations wil prov e to have been correct. You should not unduly rely on such statements. In any event, these statements speak only as of the date hereof, and we undertake no obligation to update or revise any of them, whether as a result of new information, future ev ents or otherwise. Menara Matahari 12th Floor, T 62 21 547 5228 Jl. Boulevard Palem Raya No. 7 E corp.comm@matahari.com Karawaci, Tangerang 15811, Indonesia www.matahari.com
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