MAP Announces 14% Increase In Net Revenue For Full Year 2019

Jakarta, 16 th April 2020 – PT Mitra Adiperkasa Tbk (MAP), Indonesia’s leading lifestyle retailer, today announced its financial results for full year 2019. Net revenue increased 14% to Rp21.6 trillion with SSSG of 4%, operating profit amounted to Rp1.9 trillion (+28.2%) and EBITDA grew by 21.5% to Rp2.8 trillion. On the bottom line, net profit jumped by 43.0% billion to Rp1.2 trillion.

Full year top line growth was driven by the underlying strength of MAP business, the performance of our Active, F&B and Digimap business, as well as strong growth in eCommerce, with digital channels (including Mapemall, PlanetSports.asia and Zara) growing more than 100%.

The Company’s strong Q4 results capped an excellent full year 2019 performance demonstrating the power of our MAP 360° Retailing model which covers the full spectrum of consumer retail from Department Stores, Fashion & Beauty, Sports & Kids, Digital, Travel, and F&B. Net revenue grew by 21.1% to Rp6.2 trillion, SSSG was 8%, and net profit reached Rp350.6 billion (+55.3%). Taken together, with tightly controlled expenses, we achieved significant growth in 2019.

MAP also initiated many sustainability efforts and strengthened our corporate governance through the development of sustainability report, implementation of waste management in our head office, campaign of single use plastic reduction, encourage more e-meeting, sustainable CSR programs, etc.

Ratih D. Gianda, VP Investor Relations & Corporate Communications MAP Group said, “Our full year 2019 performance reflected the strength and resilience of our diverse portfolio. Despite headwinds, we delivered against our top and bottom line expectations. Looking ahead, we expect the recent outbreak of Covid-19 to affect our 2020 results, but we are taking strong actions to minimize impact and disruption to our business. As we continue to navigate through the “New Normal” due to the pandemic, we will tightly control our expenses, ramp up focus on Omni-channel through partnership with delivery aggregators and FinTech companies and leverage on MAP Club as it will become the vehicle of our omni-channel journey,”

“We see unprecedented opportunities for MAP in the years ahead. Short-term challenges aside, MAP is well-positioned to emerge ever stronger post crisis,” Ratih concluded.

About PT Mitra Adiperkasa Tbk

As at December 2019, MAP operates 2,320 retail outlets in 79 cities throughout Indonesia. The major retail concepts under the group among others: Department Stores: Sogo, Seibu, Galeries Lafayette, and The FoodHall; Fashion & Lifestyle: Zara, Marks & Spencer, Topman, Topshop, Kipling, Lacoste, Nautica, Massimo Dutti, Staccato, Swarovski, Zara Home and Sephora; Sports: Sports Station, PlanetSports.Asia, The Athlete’s Foot, Converse, Golf House, Payless ShoeSource, Reebok, Rockport, Skechers, Onitsuka Tiger and Clarks; Food & Beverage: Starbucks, Pizza Marzano, Krispy Kreme, Cold Stone Creamery Ice Cream, Godiva, Genki Sushi, Paul Bakery, Burger King and Domino’s Pizza; Kids: Kidz Station, Smiggle and Lego; Others: Kinokuniya, Digimap and Alun Alun Indonesia. For more information about MAP please visit map.co.id.

For more information, please contact:
Ratih Darmawan Gianda
VP, Head of Investor – Media Relations & Corporate Communication for MAP Group
PT Mitra Adiperkasa Tbk
30th Floor, Sahid Sudirman Center
Jl. Jend Sudirman Kav 86, Jakarta 10220 – Indonesia
Tel : +6221 8064 8498 ; +6221 574 5808
Mobile : +62 811 1791 606
Email: Ratih.Gianda@map.co.id