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Indonesia: PT Matahari Putra Prima Tbk reported revenue up 16.2% and net earnings up 115% in 2013



·         Full year gross sales of Rp12,564 billion, 16.2% over 2012

·         Full year same store sales growth (SSSG) of 4.5%

·         Matahari Food Business (MFB) opened a record 39 new stores in 2013, and now operates a total of 222 multi format stores

Jakarta, Indonesia, 2014-2-27 — /EPR Retail News/ — PT Matahari Putra Prima Tbk reported strong results in the full year 2013. Gross sales were Rp12,564 billion, a 11.1% increase over last year, with a 85.8% growth in net income to Rp445, as compared to Rp239 billion last year.

Matahari Food Business (MFB) gross sales were Rp12,564 billion, an increase of 16.2%. On a pro forma basis MFB net income increased 115.0% to Rp445 billion from Rp207 billion.

The full year SSSG of 4.5% in 2013 (Q4 SSSG was 5.6%) reflected the continued strong demand from the company’s target middle income segment, despite changes in the macroeconomic environment.

MPPA currently operates 222 stores (99 Hypermart, 29 Foodmart and 94 Boston Health & Beauty) in 63 cities across Indonesia. MFB continued the aggressive expansion and opened a total of 39 new stores in 2013, (19 Hypermart, 3 Foodmart and 17 Boston Health & Beauty). At the end of the year the total gross retail space increased to 648,215.

Total debt as of December 31, 2013 was Rp 188 billion, payable in April 2014. The Company continues to support the expansion of new stores with internal cash flow.

Bunjamin Mailool, President Director of the Company said, “We are pleased with the results of 2013. We’ve successfully executed the strategic direction recommended by Merrill Lynch, which enabled management to focus on the Matahari Food Business. MFB continues to be the market leader, gaining market share in the modern retail grocery segment and is a first mover in new markets. As a dominate player in existing markets, MFB is well positioned to continue to support the strong growth projected for Indonesia’s economy”.

About PT Matahari Putra Prima, Tbk
MPPA has the widest geographic coverage and is the fastest growing fast-moving consumer goods modern multi-format food retailer in Indonesia and operates retail stores under the brands of Hypermart, Foodmart, and Boston Health & Beauty. Matahari Food Business works closely with small and medium enterprise companies for local sourcing to provide value, quality and healthy selections to the growing middle class family. MFB operates a total of 222 retail stores.

For further information, please contact:

Investor Relations:
Danny Crayton, Chief of Investor Relations

Mobile: +628118801534

Corporate Communications:
Danny Kojongian, Director

Mobile: +628161376868

This press release has been prepared by PT Matahari Putra Prima Tbk (“MPPA”) and is circulated for the purpose of general information only. It is not intended for any specific person or purpose and does not constitute a recommendation regarding the securities of MPPA.  No warranty (expressed or implied) is made to the accuracy or completeness of the information. All opinions and estimations included in this release constitute our judgment as of this date and are subject to change without prior notice. MPPA disclaims any responsibility or liability whatsoever arising which may be brought against or suffered by any person as a result of reliance upon the whole or any part of the contents of this press release and neither MPPA nor any of its affiliated companies and their respective employees and agents accepts liability for any errors, omissions, negligent or otherwise, in this press release and any inaccuracy herein or omission here from which might otherwise arise.

Forward-Looking Statements

Certain statements in this release are or may be forward- looking statements.  These statements typically contain words such as “will”, “expects” and “anticipates” and words of similar import.  By their nature, forward looking statements involve a number of risks and uncertainties that could cause actual events or results to differ materially from those described in this release. Factors that could cause actual results to differ include, but are not limited to, economic, social and political conditions in Indonesia; the state of the property industry in Indonesia; prevailing market conditions; increases in regulatory burdens in Indonesia, including environmental regulations and compliance costs; fluctuations in foreign currency exchange rates; interest rate trends, cost of capital and capital availability; the anticipated demand and selling prices for our developments and related capital expenditures and investments; the cost of construction; availability of real estate property; competition from other companies and venues; shifts in customer demands; changes in operation expenses, including employee wages, benefits and training, governmental and public policy changes; our ability to be and remain competitive; our financial condition, business strategy as well as the plans and objectives of our management for future operations; generation of future receivables; and environmental compliance and remediation. Should one or more of these uncertainties or risks, among others, materialize; actual results may vary materially from those estimated, anticipated or projected. Specifically, but without limitation, capital costs could increase, projects could be delayed and anticipated improvements in production, capacity or performance might not be fully realized. Although we believe that the expectations of our management as reflected by such forward-looking statements are reasonable based on information currently available to us, no assurances can be given that such expectations will prove to have been correct. You should not unduly rely on such statements. In any event, these statements speak only as of the date hereof, and we undertake no obligation to update or revise any of them, whether as a result of new information, future events or otherwise.

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