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(The Insider Stories) - PT Matahari Putra Prima Tbk (“MPPA”) announced Q1 ‘2013 Revenues, Gross Profit and Net Profit After Tax of IDR2.6 trillion, IDR419.1 billion and IDR63.2 billion respectively for the period ending March 31, 2013.

In Q1 ‘2013, the Company recorded Total Net Sales reaching IDR2.6 trillion which is now fully contributed from Matahari Food Division “MFD” (90%+ from Hypermart).

These numbers are incomparable to their respective last year’s numbers due to successful non-core assets/business divestment at 2012 yearend.

Nevertheless, being the only contributor now MFD contributed IDR2.6 trillion net sales, representing a comparable 16.3% growth from its sales of IDR2.3 trillion last year. 

Since the launching of the Hypermart brand in 2004, MFD has generated a CAGR on gross sales of 27.9% which became the key cornerstone of the

Company’s growth and outlook going forward. On comparable basis, the Consolidated Gross Profit grew 29.4% y-o-y reaching IDR419.1 billion from last year’s IDR323.9 billion.

Operating Income also grew 32.2% to IDR74.6 billion from IDR56.4 billion last year. EBITDA reached IDR165 billion.

MPPA now registers net interest income of IDR6.9 billion in Q1’13, compared to net interest expense of IDR5.6 billion last year, due to much lower interest costs of IDR38.3 billion from IDR62.7 billion last year, in-line with the Company’s plan of debt repayments from the proceed of non-core divestment last year.

This eventually led MPPA registered Income Before Tax of IDR81.5 billion.

The comprehensive Net Earnings After Tax amounted to IDR63.2 billion, or IDR12 per share, from last year’s comparable net earnings of IDR10.1 billion, or 525.4% yoy growth; or 118% yoy growth from the audited Q1’ 2012 net earnings of IDR29 billion.

Within Q1’ 2013, MFD has successfully opened 2 new Hypermarts in Jakabaring, Palembang and Ambon. While the Jakabaring new store will reinforce the Hypermart’s market dominance in West Sumatera, the new Ambon store, a 2^nd Hypermart store in Ambon island, also further reinforce Hypermart’s market penetration and direction of growth into Eastern Indonesia territories.

For 2013, Hypermart will open 20 new Hypermart stores throughout the country, making us the fastest growing hypermarket in Indonesia as our objective to maximize shareholders value by maintaining our market leadership within the fast growing Indonesia’s FMCG market.

We expect Hypermart to mark its 100^th store by 2013 yearend and become the leading and largest hypermarket retailer in Indonesia. In first quarter 2013, MPPA is also delighted and honored to see Temasek Holding to become key shareholder with its plan to acquire 26.1% shareholding from the market.

Together with PT Multipolar Tbk (“MLPL”) as controlling shareholder with 50.2% ownership, MPPA will be driven further to embark its next phase of growth.

Benjamin Mailool, President Director MPPA, was upbeat with the positive first quarter 2013 achievement,

“We are delighted to see that MPPA continue well in the right direction despite challenging market environment during first quarter of 2013. A 16% sales growth as well outstanding 525% net earnings growth, on comparable basis, further demonstrates that our Hypermart business is performing and expanding well both operationally and financially.

Moreover, the successful non-core divestment as well as Temasek’s involvement as our new strategic shareholder further drive MPPA to reach its objectives as No 1 FMCG modern retailer in Indonesia in the short future.”

MPPA is a leading fast-moving consumer goods modern retailer in Indonesia with widest stores network 82 hypermarkets, 28 supermarkets and 80 pharmacy outlets operating in more than 52 cities across Indonesia.

Hypermart is a main modern retail business of  MPPA which was established in 2004, which continues to grow rapidly and increase the scale of the hypermarket business in Indonesia, utilizing a large FMCG business.

The hypermarket business until now has 82 outlets nationwide. Hypermart is targeting to open at least 20 stores in 2013 and a total of 80 new stores in the next 5 years.