management presentation - alfamart...source: nielsen retail audit indonesia total grocery | total 55...
TRANSCRIPT
Confidential - Do not duplicate or distribute without written permission from the Company
As of March 31, 2018 PT Sumber Alfaria Trijaya Tbk
As of March 31, 2018
MANAGEMENT PRESENTATION
• Overview Ytd March 2018
• Groceries Retail Industry Overview
• Operational Performance
• Financial Highlights
OVERVIEW Ytd MARCH 2018
OVERVIEW Ytd MARCH 2018
Indonesian Groceries recorded a minus growth of 0.7 % in Q1 2018 vs 4 % in Q1 2017.
The most severe decline were Traditional Channel from 4,1% to -3,1% and Hyper/Super from -0,7% to
-4,2%. At the same time Minimarket Trade Channel only declined marginally from 5,9% to 5,8%.
Of 55 categories; Food and Non Food were still declining , with the exception of Cooking & Seasoning
and Indulgences .
Net addition of stores ytd March 2018 ; Alfamart 26 stores and Alfamidi 57 stores.
GROCERIES RETAIL INDUSTRY OVERVIEW
Source: Nielsen Retail Audit
Indonesia Total Grocery | Total 55 FMCG Categories | Q1 2018 vs Q1 2017
-0.7
2.7
-3.1
4.0
3.8
4.1
Indonesia
Modern Trade
Traditional Trade
Q1 2018 Q1 2017
-4.2
5.8
-0.7
5.9
MT Hyper/Super
MT Minimarket
Q1 2018 Q1 2017
All trade channel recorded minus growth in Q1 2018 vs Q1 2017, with the exception of Mini Market Modern Trade which showed a marginal decline of positive growth from 5.9 % to 5.8 %
TRADE CHANNEL GROWTH
Source: Nielsen Retail Audit
Indonesia Total Grocery | Total 55 FMCG Categories | Q1 2018 vs Q1 2017
-0.7
-0.6
-1.2
4.0
4.7
2.2
Total FMCG
Food
Non Food
Q1 2018 Q1 2017
-0.4
2.7
-2.5
2.9
1.3
14.8
3.1
9.3
-0.2
Beverages
Cooking & Seasoning
Breakfast
Indulgence
Dry Food
-1.6
0.3
-3.0
2.7
0.6
3.6
Personal Care
Home Care
Pharmaceutical
Of 55 categories, Food and Non Food were still declining , with the exeption of Cooking & Seasoning and Indulgences.
GROWTH BY DEPARTMENTS
Source: Nielsen Retail Audit
Both excluding and including Cigarettes, the market share of Super/Hyper were decreasing while Minimarket was Increasing
Indonesia Total Grocery |Total 55 FMCG Categories + Cigarette | Q1 2018
Indonesia Total Grocery | Total 55 FMCG Categories | Q1 2018
58.3 58.5 58.1 57.8 57.8
14.9 14.5 13.4 12.6 12.4
26.9 27.0 28.5 29.6 29.8
2014 2015 2016 2017 Q1 2018
Traditional Stores Super Hyper Minimarket
74.0 74.2 74.0 74.0 73.8
8.5 8.1 7.4 6.9 6.7
17.6 17.7 18.6 19.1 19.5
2014 2015 2016 2017 Q1 2018
Traditional Stores Super Hyper Minimarket
TRADE CHANNEL CONTRIBUTION
Alfamart market share to Total Indonesia MT Minimarket remained the same at 31.1%. Alfamidi market share to Total Indonesia MT Minimarket grew from 5.2% to 5.4%. Group market share grew from 36.3% to 36.5%.
Alfamart & Alfamidi vs MT MM | Total 55 FMCG Categories
Source: Nielsen Retail Audit
Alfamart to Indonesia MT MM Group to Total Indonesia MT MM Alfamidi Share to Total Indonesia MT MM
31.1 31.1
Q1 2018 Q1 2017
5.4 5.2
Q1 2018 Q1 2017
36.5 36.3
Q1 2018 Q1 2017
ALFAMART & ALFAMIDI MARKET SHARE Q1 2018
Source: Nielsen Retail Audit
Store Number
Jan 18 Mar 2018
ALFAMART 13.490 13.503
ALFAMIDI 1.419 1.450
ALFAMIDI SUPER 12 14
LAWSON 37 37
DAN+DAN 108 110
CIRCLE K 396 393
INDOMARET 15.226 15.394
FARMER MARKET 20 20
SUPERINDO 155 155
RANCH MARKET 13 14
LOTTE SUPER 2 2
RAMAYANA 87 87
FOODMART 38 36
GIANT EKSPRES 105 101
HERO 29 29
LOTTE HYPER 15 15
GIANT EKSTRA 58 58
HYPERMART 114 113
WATSONS 79 81
BOSTON 100 100
GUARDIAN 251 254
INDUSTRY LANDSCAPE AS of MARCH 2018
Source: Nielsen Retail Audit
Java still recorded the highest contribution of 68.5 % , whilst Kalimantan recorded the highest growth of 3.4%.
Indonesia Total Groceries | Total FMCG 55 Categories | Q1 2018 vs Q1 2017
GROCERIES GROWTH BY REGION
Source: Nielsen Retail Audit
Total Indonesia Modern Trade | Total FMCG 55 Categories | Q1 2018 vs Q1 2017
Greater Jakarta only grew marginally by 0,1% , whilst Other Islands (Kalimantan, Sulawesi & Other Eastern Indonesia ) grew the highest of 7 %
MODERN TRADE GROWTH BY REGION
OPERATIONAL PERFORMANCE
Store Concept No .of Stores Description
13.503
Selling space 90-100 m2 Small format with > 4.000 SKUs 74% owned, 26% franchise Mostly located in residential area
1.464
Selling space 250–300 m2 Larger format with > 7.000 SKUs Selling fresh products in addition to groceries Mostly located in residential area
37 Selling space 44 – 184 m2 > 2.500 SKUs Mostly located in commercial area
110
Selling space 100 m2 > 5.000 SKUs Targeting middle and middle lower consumers for health and beauty related products Mostly located in residential / commercial area
More than 15.000 stores scattered in Indonesia 132.000 + employees * 42 warehouses
500 + active Suppliers 12 million + members
We are still increasing store numbers and members / loyal customers
* Including Franchise store employees
ALFAMART GROUP AT A GLANCE
Geographic Breakdown Company Owned & Franchise Stores
Above are consolidated total number of Alfamart, Alfamidi, Lawson and Dan+Dan stores.
The shift of new store opening / store presence from Greater Jakarta to Outside of Greater Jakarta and Outer Island during the last 5 years.
41.1% 41.4% 39.6% 34.3% 33.7% 33.5% 34.3%
41.0% 37.4% 35.0%
38.0% 37.6% 37.5% 37.7%
17.9% 21.2% 25.4% 27.7% 28.7% 29.0% 28.0%
2013 2014 2015 2016 2017 YTD Mar2018
YTD Mar2017
Outside Java Java (Outside Greater Jakarta) Greater Jakarta
6,779 7,817
9,086 10,362
11,469 11,571 10,702
2,523
2,941
3,172
3,383 3,559 3,543
3,451
2013 2014 2015 2016 2017 YTD Mar2018
YTD Mar2017
Company Owned Franchise
9.302 12.258 13.745 15.114 14.153 10.758 15.028
STORE GROWTH
Java (24 warehouses)
Cileungsi Semarang
Jababeka 1 & 2a) Klaten
Cikokol Malang
Balaraja Sidoarjo
Bogor Jember
Bandung 1 & 2 Karawang
Plumbon Rembang
Cilacap Parung
Surabaya a) Bitung 1 a) & 2 b)
Serang Yogyakarta a)
Cianjur
Outside Java (18 warehouses)
Medan 1 & 2a) Makassar 1 & 2a)
Pekan Baru Jambi
Palembang Pontianak
Lampung Banjarmasin
Denpasar Lombok
Kotabumi Batam
Samarinda a) Manado 1 & 2a)
Palu a)
As of March 2018, we managed 42 warehouses scattered throughout Indonesia (32 warehouses for Alfamart, 9 for Alfamidi and 1 for Dan+Dan)
Notes : a) Alfamidi b) Dan+Dan
WAREHOUSE
FINANCIAL HIGHLIGHTS
6,376 7,735
9,209
10.872 12.001
3,183 2,974
2013 2014 2015 2016 2017 YTD Mar2018
YTD Mar2017
Gross Profit
CAGR = 17,13%
34,634 41.496
48,265
56,107 61.465
14,675 13,763
2013 2014 2015 2016 2017 YTD Mar2018
YTD Mar2017
Revenue
Subsidiaries Include: PT Midi Utama Indonesia Tbk. , PT Sumber Indah Lestari, Alfamart Retail Asia Pte.Ltd (ARA), PT Sumber Trijaya Lestari and PT Sumber Wahana Sejahtera
Unaudited CAGR = 15,42%
2,087
2,568 2,791
3,306 3,439
929 794
2013 2014 2015 2016 2017 YTD Mar2018
YTD Mar2017
EBITDA
CAGR = 13,30% Unaudited
539 540 451
602
300
121 73
2013 2014 2015 2016 2017 YTD Mar2018
YTD Mar2017
Income for the year attributable to owners of the Parent Company
CAGR = -13,63% Unaudited
Unaudited
INCOME STATEMENT SUMMARY-CONSOLIDATED (Rp Billion)
As of MARCH, 2018
* Net Gearing (Consolidated) : as of Sep 30, 2016 1.14x as of Sep 30, 2015 0.98x
5.41
4.33
3.09 3.47
1.45
0.54 0.37
2013 2014 2015 2016 2017 Q1 2018 Q1 2017
ROAA (%)
Unaudited
18.53 19.16
11.49 11.86
5.70
2.27 1.38
2013 2014 2015 2016 2017 Q1 2018 Q1 2017
ROAE (%)
1.34
1.64
0.82
1.27
1.50 1.45 1.33
2013 2014 2015 2016 2017 31-Mar-18
31-Mar-17
DER ( Gross Debt to Equity )
Unaudited
1.11
1.46
0.66
1.09
1.32 1.28 1.23
2013 2014 2015 2016 2017 31-Mar-18
31-Mar-17
Net Gearing Ratio (x)
Unaudited
Unaudited
FINANCIAL (RETURN & LEVERAGE)