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20250429_LPPF_Laporan Informasi dan Fakta Material_31879098_lamp2.pdf
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PRESS RELEASE
29 April 2025
Matahari Reports IDR 4.6 Trillion Sales Amidst Soft Market
Conditions
Highlights:
1Q25 Sales: IDR 4.6 trillion, up 24.6% YoY
Gross Margin: Improved to 35.4% from 34.9% in 1Q24
EBITDA: Grew 66.1% to IDR 863 billion
Net Income: Nearly doubled to IDR 643 billion, up 97.3%
Matahari (stock code: "LPPF") today reported its financial results for the first quarter
ended 31 March 2025. The Company achieved total sales of IDR 4.6 trillion, reflecting
a 24.6% increase year-on-year, primarily driven by the timing shift of the Lebaran
period. Same-Store Sales Growth (SSSG) during the Lebaran season
registered at -4.3%.
Gross Margin improved to 35.4%, up from 34.9% a year ago, supported by fresher
assortments. EBITDA rose 66.1% to IDR 863 billion driven by the Lebaran shift, while
operating expenses remained stable. Net Income grew to IDR 643 billion, helped by
lower financing costs.
Description (in billion IDR) 1Q 2025 1Q 2024 Variance
Gross Sales 4,648 3,731 24.6%
Net Revenue 2,392 1,968 21.5%
%Gross Margin 35.4% 34.9%
EBITDA 863 519 66.1%
Net Income 643 326 97.3%
Matahari continues to drive its strategic priorities aimed at enhancing profitability.
Efforts include store optimization, focused on improving space productivity and labor
efficiency, as well as sourcing improvements, by streamlining sourcing operations to
lower product costs.
Assortment development also remains a key priority for the Company. Initiatives
include collaborations with consignment vendors to strengthen the collection and
recruit new brands. The Company’s private label brands, SUKO and ZES, gained
momentum with SUKO achieving 73% growth during the Lebaran period, supported
by the launch of SUKO GO. SUKO also plans to enter the children’s segment later in
the year. Expansion into new categories like the Home and Living category is also
underway.
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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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Omnichannel initiatives are centered around expanding assortment accessibility and
better digital engagements. This will be achieved through the consignment vendor
onboarding program and the Fulfilment-From-Store strategy for third-party
marketplaces, as well as enhancing customer engagement via livestreaming
initiatives and loyalty programs.
Monish Mansukhani, CEO of Matahari, stated, “Our first-quarter performance reflects
current market headwinds, notably the impact of subdued consumer spending during
the Lebaran season. Despite these challenges, we remain focused on strengthening
our operating model to deliver a customer-led assortment and ensure our sales
channels continue to resonate with our customers”.
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About Matahari
Matahari is Indonesia’s leading retail platform, with a strong footprint of 143 outlets
across 80 cities and a growing digital presence. With over 60 years of history, the
Company offers a wide range of quality, affordable fashion and lifestyle products for
Indonesia’s middle class, supported by a team of over 30,000 employees. Matahari's
numerous awards and recognitions reflect its dedication to excellence and
innovation, underscoring its role as a dynamic and trusted brand 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
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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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 respective 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. 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 involve 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, governmental and public policy changes; our ability to be and remain competitive; our financial condition, business strategy as well as the plans and objectives of our management for future operations;. Should one or more of these uncertainties or risks, among others, materialize, actual results may vary materially from those estimated, anticipated or projected. Although we believe 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 will prove 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 events 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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