2%
Jakarta, March 26th, 2025 – PT Mitra Adiperkasa Tbk (MAP), the leading lifestyle retailer in Indonesia today announced its Q4 and Full Year 2024 results.
MAP reported a 13.6% net revenue increase to Rp37.8 trillion for full year 2024. Gross profit grew from Rp15.1 trillion to Rp16.1 trillion, and GPM at 42.7%. Operating profit was Rp3.5 trillion with a margin of 9.1%, while EBITDA rose to Rp6.4 trillion. On the bottom line, MAP managed to book a net profit of Rp2.1 trillion.
For the fourth quarter, MAP saw net revenue rise by 7.3% to Rp10.2 trillion. Gross profit grew from Rp4.2 trillion to Rp4.3 trillion, with GPM at 42.2%. Operating profit came in at Rp1.1 trillion, with a margin of 10.4% and EBITDA increased to Rp1.9 trillion. For the bottom line, MAP’s net profit for the quarter reached Rp529 billion.
“2024 was a year of progress as we stayed focused on our strategic priorities. While our top-line growth reflected a sustained demand from our customers, it was moderated by some external factors, including the delayed launch of the iPhone 16. Despite these challenges, we concentrated on key areas—prudent expansion, enhancing customer experiences through data analytics, and strengthening brand partnerships. At the same time, we maintained a clear emphasis on operational efficiencies and cost management, laying the foundation for sustainable growth and long-term success,” commented Ratih D. Gianda, VP of Investor Relations, Corporate Communications and Sustainability of MAP Group.
During the year, MAP expanded its brand portfolio, welcoming world-renowned brands such as Kiko Milano, Shark Ninja, and Kenneth Cole. As part of its multichannel strategy, MAP also strengthened its digital platforms to drive stronger consumer engagement. These efforts resulted in a 19% YoY increase in online sales, contributing 9.2% to total revenue in FY 2024.
“Looking ahead, our sights are set on driving sustainable growth and innovation across our diversified retail portfolio. We are committed to offering our customers the best possible line-up of brands, products, and services. At the same time, we are vigilant about external market pressures and stand ready to adapt our strategic investments to mitigate any potential risks”, Ratih concluded.
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 December 2024, MAP operates 3,700 retail stores in over 80 cities across Indonesia. The main retail concepts managed include; Department Stores: Sogo, Seibu, Galeries Lafayette, 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
PT Mitra Adiperkasa Tbk
Sahid Sudirman Center 30th Floor
Jalan Jend. Sudirman Kav. 86 Jakarta 10220
Telephone: +6221 8064 8498, +6221 574 5808