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Table of Contents
• Indonesia Macroeconomic
indicators
• Overview of MAP Group
• Financials
• Group Strategy 2024 & Beyond
• 2023 / 2024 Achievements
• 2023 / 2024 New Stores
• Sustainability
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Indonesia Macroeconomic Indicators
The Country has observed positive trends in overall macroeconomic indicators,
including robust GDP growth along the year and well-controlled inflation rates.
Indonesia GDP growth (%YoY)
Source: https://www.bps.go.id/ Source: https://www.bi.go.id/
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Overview of Group (Q1’24)
3,277 150 + 110 +
Retail Stores
+ 50 online stores World Class Brands Retail Concepts
+ Presence in 3rd party online stores
7 Over
29,747
8 0
Countries
• Indonesia • Philippines
• Vietnam • Singapore
Employees
• Thailand • Malaysia Cities *
• Cambodia
* Excluding regional countries 4
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Our
Brands
5
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Department Stores
6
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Active: Sports
* non-exclusive brands
7
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Active: Leisure
8
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Active: Kids
9
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Fashion
10
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Digital
11
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Food & Beverages
12
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Others
13
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Distribution
Brands
14
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Distribution - Sports
* non-exclusive brands
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Distribution - Kids
* non-exclusive brands
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Retail Footprint
Total Stores Q1’24 Space (sqm)
• Consolidated 3,277 1,110,261
• Specialty Stores 2,367 549,087
- Active 1,719 366,625
- Fashion, Beauty & Health 535 170,385
- Digital 113 12,077
• Department Stores 62 333,802
• F&B 843 219,398
• Others 5 7,974
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Financials
2023/24
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Consolidated Income Statement (2021 - Q1 2024)
Net income/(loss) before minority
* As restated
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Net Sales
33,319
23.7%
26,937
46.2%
21,637
18,424
14.4%
24.1% 14,847
-31.4%
8,788
17.8%
Q1 2024 UA 2023 A 2022 A 2021 A 2020 A 2019 A
Presented in billion Rupiah
Percentage in bar chart indicates % growth versus previous year
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EBIT
3,596
17.2% 3,070
151.2%
1,989
1,222 32.1%
713 2248.8%
7.4%
-102.9%
(57)
Q1 2024 UA 2023 A 2022 A 2021 A 2020 A 2019 A*
Presented in billion Rupiah
Percentage in bar chart indicates % growth versus previous year
* Prior PSAK 73 / IFRS 16
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EBITDA
6,212
13.6% 5,467
59.0%
3,438
52.6% 2,847
2,252 24.0%
1,462 -20.9%
14.2%
Q1 2024 UA 2023 A 2022 A 2021 A 2020 A 2019 A*
Presented in billion Rupiah
Percentage in bar chart indicates % growth versus previous year
* Prior PSAK 73 / IFRS 16
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Net Income
2,511
2,345
436.8%
-6.6%
1,164
43.0%
501 468
5.0% 179.9%
-150.3%
(585)
Q1 2024 UA 2023 A 2022 A 2021 A 2020 A 2019 A*
Presented in billion Rupiah
Percentage in bar chart indicates % growth versus previous year
* Prior PSAK 73 / IFRS 16
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Inventory Level
Aging Inventory 1Q24 2023 2022 2021
24% 23% 25% 43%
Inventory Days
24
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Balance Sheet
* As restated
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Group Strategy
for 2024 & Beyond
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Our 4 Strategies
Maximizing brand possibilities to be the leading one-stop shop
for multi-channel retail sales & marketing in ASEAN:
1 Unifying Retail Experience Options
2 Accelerate Regional Branded Commerce
3 Execute Digital & Technology Change
4 Strategic Acquisitions or Partnerships
Prudent Expansion 27
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Our 4 Strategies
Strategy 1: Unifying Retail Experience Options
• Integrated data driven digital ecosystem
• Online & offline stores to service our shoppers 24 x 7
Multi-channels to
service customers
nationwide
• offline
• online
• chat & buy
• marketplace channels
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Our 4 Strategies
Strategy 1: Unifying Retail Experience Options (Cont’d)
Multi-channels to
service customers
nationwide
• offline
• online
• chat & buy
• marketplace channels
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Our 4 Strategies
Strategy 2: Accelerate Regional Branded Commerce
• Managing & marketing major brands across populous ASEAN nations
• Unifying offline + online + all retail touchpoints to maximize sales potential.
Indonesia Cambodia
Zara.com/ID Zara.com/CB
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MAP Stores in ASEAN - Q1’24
INDONESIA PHILIPPINES VIETNAM
• 2,911 stores • 179 stores • 53 stores
• 30 online stores • 5 online stores • 5 online stores
THAILAND MALAYSIA SINGAPORE CAMBODIA
• 42 stores • 50 stores • 31 stores • 11 stores
• 2 online stores • 3 online stores • 3 online stores • 2 online stores
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Our 4 Strategies
Strategy 2: Accelerate Regional Branded Commerce (Cont’d)
Veranza Gensan, Philippines Emsphere, Thailand Chipmong, Cambodia
Lotte Mall West Lake, Hanoi, Vietnam Mall TRX, Malaysia Vivo City, Singapore
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Philippines
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Vietnam
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Thailand
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Singapore
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Malaysia
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Cambodia
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Our 4 Strategies
Strategy 3: Execute Digital & Technology Change
• Integrated data driven digital ecosystem
• To refine our planning, purchasing, selling, & speed to market across ASEAN
a. MAP CLUB - One power App for branded shopping
A retail community App which aggregates all MAP’s commerce & customer collaboration
in one ecosystem.
OFFLINE ONLINE
ALL BRANDS
ALL SALES CHANNELS
ALL RETAIL CATEGORIES
eMONEY & INCENTIVES
MARKET PLACE WHATSAPP
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Our 4 Strategies
Strategy 3: Execute Digital & Technology Change (Cont’d)
b. Endless Aisle (Save The Sale)
• A process to optimize the company’s inventories by online access to all stores and
DC stocks nationwide.
• When a size or colour is not available, staff can utilize a PDT to fulfill from alternate
destinations.
• Product is then despatched
to the customer address.
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Our 4 Strategies
Strategy 3: Execute Digital & Technology Change (Cont’d)
c. BluTab Technology
A proprietary O2O technology that assists online shoppers with faster deliveries
by fulfillment from a store closest to their address.
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Omni Channel: 50 Online Stores
ACTIVE FASHION DIGITAL
Planetsports.asia Converse ID ZARA ID Digimap ID
Sportsstation.id Converse PH ZARA VN Digimap PH
Lineashoes.com Converse SG ZARA CB Digibox VN
Footlocker ID Converse MY Pull & Bear.com Digibox CB
Footlocker PH Converse VN Massimo Dutti ID
Footlocker SG Stevemadden.id Massimo Dutti VN DEPT. STORE
Footlocker MY Fitflop ID Stradivarius.com SOGO ID
Footlocker VN Fitflop PH Zarahome.com
Footlocker TH Aldo TH Bershka.com
OTHERS
Kidzstation.asia Aldo MY Mango.com
Kinokuniya ID
Reebok.id Aldo SG Lacoste.com
Crocs.id Aldo ID Marks&Spencer.com
Skechers.id Hoka ID Tumi.com
BricksActive.id Hoka PH Sephora ID
Newbalance.id
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Digital Performance (IDR bn, %)
Contribution by Channel Digital Sales Performance
Q1 24 Q1 23 2023 2022 2021
3rd Party
Contribution 9.1% 8.1% 8.8% 9.0% 13.0%
Own Sites
50.2% Marketplace
49.8%
2,933
2,419 2,388
Contribution by Segment 798 604
Digimap
20%
Q1 24 Q1 23 2023 2022 2021
Foodhall
1%
Active F&B Q1 2024 Sales Contribution
46%
9.1%
5%
Dept. Store
10%
Fashion
18% 43
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Our 4 Strategies
Strategy 4: Strategic Acquisitions or Partnerships
a.
• MAP entered into a partnership with Sports Direct.
• As per May 2024, launched 3 Sports Direct stores in Kota Kasablanka,
Plaza Senayan and Supermal Karawaci.
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Our 4 Strategies
Strategy 4: Strategic Acquisitions or Partnerships (Cont’d)
b.
• MAP entered into an exclusive partnership with Danish-based brand, Flying Tiger
Copenhagen.
• Launched 11 Flying Tiger stores as per May 2024.
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Our 4 Strategies
Strategy 4: Strategic Acquisitions or Partnerships (Cont’d)
c. Joint Venture
The Company has established a joint venture for the operation of BOSS in Indonesia.
Boss
• Plaza Indonesia
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Key Strategies
OPERATIONAL PORTFOLIO
EFFICIENCY
INVESTMENT ENHANCEMENT
• Productivity • Acquisition • Cost control
Growth • Partnership • Key focus on
• Channel and • Joint Venture home market -
digital capabilities Indonesia
• Category
• Strengthening expansion
Leadership team
in each country
Prudent Expansion 47
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2023/2024
Achievements
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“ MAPI Part of
”
LQ45 Index
49
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“ High Market
”
Capitalization
- TEMPO-IDN Financial -
50
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“ Analyst’s Favorite in
”
the Consumer Cyclicals Sector
- Certified Securities Analyst Awards 2023 -
51
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“ MAPA Part of
”
FTSE Index
52
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“ Most Accurate Data
- BPJS Ketenagakerjaan - ”
(Ministry of Manpower)
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“ Growing
in the New Era
”
(Retail Business Category)
- Bisnis Indonesia -
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“ The Top-selling
Brand in The Sports
”
& Outdoor Category
- Shopee -
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“ Distribution
Partner
of the Year
”
Award
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“ ZALORA
Best Growth
”
2023
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“ No 1 chain of stores based on
quality/merchandise depth
”
and store upkeep
“ No 1 group of trainers
”
across all Indonesia partners
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“ Highest
”
Partner Sales
- HOME CREDIT -
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B
“ Best Consumer
Cyclical Sector
on the Development
”
Board
- CSA Institute -
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“ Best Sales Volume
”
Fashion Merchant
- BRI Award -
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“Highest Sales
”
Volume Growth
- BNI Award -
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“ Marketing Journey
Experience 2023
&
”
Service Quality
- Marketing Magazine -
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“Best Companies
to Work for in Asia
”
2023 & 2024
- HR Asia -
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2023/2024
New Stores
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Plaza Indonesia
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Lippo Mall Puri, Indonesia
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Kota Kasablanka, Indonesia
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Plaza Indonesia
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Central Park, Indonesia
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Plaza Indonesia
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Living World Denpasar Bali,
Indonesia
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Sumarecon Mall Serpong,
Indonesia
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Bintaro Xchange 2, Indonesia
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Grand Indonesia
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Palu Grand Mall, Indonesia
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Bintaro Xchange 2, Indonesia
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Senayan City, Indonesia
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Senayan City, Indonesia
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Senayan City, Indonesia
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Senayan City, Indonesia
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Senayan City, Indonesia
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Senayan City, Indonesia
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Senayan City, Indonesia
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Senayan City, Indonesia
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Indonesia
Tunjungan Plaza Surabaya Trans Studio Makassar
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Kota Kasablanka, Indonesia
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Trans Studio Makassar, Indonesia
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Bintaro Xchange 2, Indonesia
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Lippo Mall St. Moritz, Indonesia
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Grand Indonesia
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Pondok Indah 3, Indonesia
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TP 3 Surabaya, Indonesia
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TP 3 Surabaya, Indonesia
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The Grand Outlet,
Karawang - Indonesia
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Reserve PIK Landslide,
Indonesia
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KCIC Halim Station Jakarta,
Indonesia
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SM Aura, Philippines
98
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One Ayala, Philippines
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One Ayala, Philippines
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Galeria Cebu, Philippines
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USA Festival, Philippines
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Lotte Mall West Lake Hanoi,
Vietnam
103
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Lotte Mall West Lake Hanoi,
Vietnam
104
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Lotte Mall West Lake Hanoi,
Vietnam
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Lotte Mall West Lake Hanoi,
Vietnam
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Emsphere, Thailand
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Emsphere, Thailand
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Emsphere, Thailand
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Vivocity, Singapore
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Wisma Atria, Singapore
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Suria KLCC - Kuala Lumpur,
Malaysia
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TRX, Malaysia
113
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TRX, Malaysia
114
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Phnom Penh, Cambodia
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Phnom Penh, Cambodia
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Sustainability
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MSCI ESG Ratings
- As per 14th April 2024
COMPARISON WITH GLOBAL PEERS (RETAIL)
PT MITRA ADIPERKASA TBK
Retail - Consumer Discretionary | ID
Industria de Diseno Textil, S.A. AA
WEIGHT SCORE
The Home Depot, Inc. AA Environment 20% 3.7
Lowe’s Companies, Inc. AA Product Carbon Footprint 10% 2.9
Amazon.com, Inc. BBB Raw Material Sourcing 10% 4.4
Alibaba Group Holding Ltd. Social 45% 5.9
BBB
PT Mitra Adiperkasa Tbk BBB Labor Management 20% 3.6
Privacy & Data Security 25% 7.8
Central Retail Corporation PCL BBB Governance 35% 4.7
PT Matahari Department Store Tbk BBB Weighted-Average Key Issue (WAKI) Score 5.0
Lotte Shopping Co., Ltd BB Industry Adjusted Score 5.4
*THE USE BY PT MITRA ADIPERKASA TBK OF ANY MSCI ESG RESEARCH LLC OR ITS AFFILIATES (“MSCI”) DATA, AND THE USE OF MSCI LOGOS, TRADEMARKS, SERVICE
MARKS OR INDEX NAMES HEREIN, DO NOT CONSTITUTE A SPONSORSHIP, ENDORSEMENT, RECOMMENDATION, OR PROMOTION OF PT MITRA ADIPERKASA BY MSCI.
MSCI SERVICES AND DATA ARE THE PROPERTY OF MSCI OR ITS INFORMATION PROVIDERS, AND ARE PROVIDED ‘AS-IS’ AND WITHOUT WARRANTY. MSCI NAMES AND
LOGOS ARE TRADEMARKS OR SERVICE MARKS OF MSCI.
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People – Gender Equality
Gender Composition per Dec 2023
All Employees
52% 48%
Employed more than 29,000 people
and provides Equal Opportunity in
all Levels
Male Female
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Starbucks Community Store Starbucks First “Signing” Store for
at Tanah Abang the Hearing-Impaired Community
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MAP RETAIL ACADEMY
Raising Retail Education Standards
The Company provides many training opportunities to help
our employees grow their skills and careers
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Quality Training for the Communities
The Company believes that knowledge is to be shared - MAP Retail Academy
provides training to external parties to strengthen Indonesian Retail Industry
Jakarta Global Camp Gordon Institute of Business Science, MAP Goes to Campus –
Tsinghua University University of Pretoria, South Africa Universitas Indonesia 122
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Rumah Belajar Anak Bintang - RAJAB
• Initiated in 2014, in cooperation with
Karang Taruna Jawa Barat (West Java
Youth Organization)
• RAJAB is a character building education
program for underprivileged children
• Currently RAJAB operates in 7 villages across
West Java
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RAJAB Waste Reduction
Through Rumah Belajar Anak Bintang (RAJAB), our community development
program, we also encourage sustainable lifestyle from the early age
Ecobrics
The reinforced plastic bottles/ecobricks are
Used mineral bottles are hardened by compacting hard to then tied together
recycle plastic packaging (sachet, candy wraps, etc) inside
the bottle
Small stool chair
from 23 used
plastic bottle and
approx. 5.75kg
Tied ecobricks plastic waste is
is then covered made
with fabrics
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RAJAB Waste Reduction
Planting the Earth Soil Biopore Creation
We teach the next generation that planting is fun and Aside teaching the students about composting, this
important activity will also stimulate soil organism to create
biopores, which increase soil ability to absorb water
Plant vase from used fabrics
Reuse/recycling of used paper
RAJAB Panyocokan RAJAB Sukawening
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Coaching Clinics
MAP conducts Coaching Clinics to encourage kids to pursue
a healthy and active lifestyle
Running Coaching Clinic Swimming Coaching Clinic
Badminton Coaching Clinic Basketball Coaching Clinic
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Donation and Voluntary Programs
MAP conducts various donations and voluntary programs
to support communities
Food & Beverage Donation Sogo’s Partnership with Benih Baik
Program and Other Foundations to Create
Positive Impacts
Starbucks Humanitarian Aid For Gaza
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Starbucks “Greener” Store - First in Indonesia
At Adhyaksa Lebak Bulus, Jakarta
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Energy and Emission Reduction
Utilization of Solar Panel in Starbucks stores
Planting of Mangrove Trees
to rehabilitate the environment & protect
the coastline
Plant Based Menu
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Waste Reduction
No Single Use Plastic Shopping Bags Take Back Program
Greener Nusantara Program Waste Management Program
- Plastic reduction in F&B Stores - Working with local start-up to recycle our waste
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Clean Water Supply
Built 16 Water Towers to provide Clean Water Filtration System Donated
access to clean water to Disaster Impacted Area
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MAP: Manufacturing for the world
PT OUT OF ASIA
Main Factory/Warehouse:
• Location: Bantul (Jogjakarta)
• Employ over 3,000 artisans in 4 islands
(Bali + Java + Lombok + Sumatra)
• Export to over 20 countries worldwide
Some of our clients:
Plus many more!
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Supporting Indonesian Brands
DEPARTMENT STORES MAP ACTIVE
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Partnership with Local Farmers
Donation of Coffee Tree Seeds to Indonesia Sumatera Coffee is Sold in
Starbucks Farmer Support Center Over 80 Countries through Starbucks
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Bringing Best Global Practices to Indonesia
- PT Mitra Garindo Perkasa
• PT Mitra Garindo Perkasa, our subsidiary,
operates 33,000 sqm garment manufacturing
plant in Gunung Putri, Bogor
• The Company manufactures products for
well-known international brands - bringing
international practices to Indonesia
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Thank You
136
Names mentioned 11 people and organisations named in the text · linked when the evidence is strong
unresolved
org
Ministry of Manpower
p.53
unresolved
org
Alibaba Group Holding Ltd.
p.118
unresolved
org
Central Retail Corporation
p.118
unresolved
org
Matahari Department Store Tbk
p.118 ×2
unresolved
org
Lotte Shopping Co., Ltd
p.118
unresolved
org
RESEARCH LLC
p.118
unresolved
org
PT MITRA ADIPERKASA BY MSCI. MSCI SERVICES
p.118
unresolved
org
PT OUT OF ASIA Main Factory
p.132
unresolved
org
PT Mitra Garindo Perkasa
p.135 ×2
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