MAP Announces 15.4% Growth In Net Revenue For First Half 2024

Jakarta, 31st July 2024 – PT Mitra Adiperkasa Tbk (MAP), the leading lifestyle retailer in Indonesia, today announced its results for Q2 and H1 2024.

For H1 2024, net revenue increased by 15.4% to Rp18.0 trillion from Rp15.6 trillion. Operating profit was Rp1.6 trillion with a margin of 9.0%, and EBITDA stood at Rp3.0 trillion. For the bottom line, MAP posted a net profit of Rp1.1 trillion.

In the second quarter, MAP saw net revenue grow by 13.2% YoY to Rp9.2 trillion from Rp8.1 trillion. Operating profit amounted to Rp903 billion, while EBITDA was Rp1.6 trillion. The net profit for the quarter was Rp574 billion.

Ratih D. Gianda, VP Investor Relations, Corporate Communications, and Sustainability of MAP Group said, “We saw sales growth in Q2’24, both quarter-on-quarter and year-on-year, despite the partial shift of Lebaran sales to March. Our results highlighted the sustained demand from our customers, particularly during holiday season in June. Looking ahead, MAP remains committed to expanding prudently in this evolving business environment. At the same time, we will continue to put our focus on improving operational efficiencies, including better inventory management and back-end support.”

As part of its commitment to providing the best for its employees, MAP consistently demonstrates its outstanding employment practices. Recently, the Company received the HR Asia “Best Place to Work” Award 2024 for the second consecutive year. The award was given for MAP’s dedication to fostering a supportive and dynamic workplace.

Separately, based on FY23 results, the Company declared a cash dividend of Rp132.3 billion, or Rp 8 per share, to shareholders on record as of July 9th, 2024. This was approved during the Company’s Annual General Meeting of Shareholders in June 2024. The dividend was paid on July 30th, 2024.

About PT Mitra Adiperkasa Tbk
MAP has a portfolio of more than 150 world-class brands from department stores, sports, fashion, kids, food & beverage to lifestyle. As at end of June 2024, MAP operates 3,378 retail stores in over 80 cities across Indonesia. The main retail concepts managed include; Department Stores: Sogo, Seibu, The FoodHall; Department Stores: Sogo, Seibu, The FoodHall; Fashion & Beauty: Zara, Marks & Spencer, Kipling, Cotton On, Mango, Massimo Dutti, Swarovski, Zara Home, Boots, Sephora; Active (Sports & Leisure): Sports Station, PlanetSports.Asia, Foot Locker, Converse, Golf House, Reebok, Skechers, Onitsuka Tiger, Staccato, Clarks; Kids: Kidz Station, Smiggle, Lego; Digital: Digimap, Digiplus; Food & Beverage: Starbucks, Pizza Marzano, Krispy Kreme, Cold Stone Creamery Ice Cream, Godiva, Genki Sushi, Subway; Others: Alun Alun Indonesia. For more information about MAP, please visit map.co.id.

For more information, please contact:
Ratih Darmawan Gianda
VP Investor Relations, Corporate Communications and Sustainability of MAP Group
PT Mitra Adiperkasa Tbk
Sahid Sudirman Center 30th Floor
Jalan Jend. Sudirman Kav. 86 Jakarta 10220
Telephone: +6221 8064 8498, +6221 574 5808