Management Presentation
PT Sumber Alfaria Trijaya Tbk
As of March 31, 2017
Confidential - Do not duplicate or distribute without written permission from the Company
• Overview YTD March 2017
• Retail Industry Overview
• Operational Performance
• Financial Highlights
Overview YTD March 2017
1. Market softening in Q1 2017 Vs Q1 2016
2. Total Indonesian grocery sales decline from 11.3% to 3.9%, with Modern Trade Channel growth recorded at 3.7%,
versus 11.8% in Q1 2016. At the same time Minimarket Trade Channel also decline from 18.8% to 5.9%.
3. Nevertheless, Alfamart market share to Indonesian Modern Trade increased to 31.1% from 30.3% in March 2016
4. YTD Mar 2017, there were net addition of stores opening as follows;
• Alfamart 344 stores
• Alfamidi 69 stores
Retail Industry Overview
TRADE CHANNEL GROWTH
All trade channels recorded a much lower growth in Q1 2017 Vs 2016.
Indonesia Modern Trade | Total 55 FMCG Categories| YTD March 2017 Vs YTD March 2016
Q1 2017 Q1 2016
3.9
Indonesia
11.3
-0.7
Super/Hyper
3.7 -0.3
Modern Trade
11.8
5.9
Minimarket
18.8
4.1
Traditional Trade
11.0
Source: Nielsen Retail Audit
GROWTH BY DEPARTMENT
Of 55 categories, food grew higher than non food categories (4.7% Vs 2.2%) with cooking & seasoning is the only category
growing higher than last year
Indonesia Modern Trade| Total 55 FMCG Categories | YTD March 2017 vs YTD March 2016
3.0
Q1 2017 Q1 2016 Beverages
16.2
Cooking & 14.8
Seasoning 10.4
3.9
3.1
Total FMCG Breakfast
10.2
11.3
9.1
Indulgence
12.3
-0.2
4.7 Dry Food
5.1
Food
11.2 2.7
Personal Care
12.2
0.6
2.2 Home Care
Non Food 13.2
11.6 3.6
Pharmaceutical
3.8
Source: Nielsen Retail Audit
ALFAMART & ALFAMIDI MARKET SHARE YTD MARCH 2017
Alfamart market share to total Indonesia MT Minimarket increased from 30.3% to 31.1%. Alfamidi market share to Total
Indonesia MT Minimarket grew from 4.9% to 5.3%. Group market share grew from 35.2% to 36.4%.
Alfamart & Alfamidi vs MT MM | Total 55 FMCG Categories
Alfamart to Indonesia MT MM Alfamidi Share to Total Indonesia MT MM Group to Total Indonesia MT MM
36.4
35.2
31.1
30.3
4.9 5.3
Q1 2016 Q1 2017 Q1 2016 Q1 2017 Q1 2016 Q1 2017
Source: Nielsen Retail Audit
TRADE CHANNEL CONTRIBUTION
Excluding cigarette, Minimarket’s contribution to Indoensia Including cigarette, Minimarket’s contribution to Indonesia
Total Grocery decreased from 28.5% to 28.0%, whilst Total Grocery decreased from 18.6% to 18.0%, whilst
Super/Hyper format decreased from 13.4% to 12.8% Super/Hyper decreased from 7.4% to 7.0% compared to FY
compared to FY 2016. 2016.
Indonesia Total Grocery | Total 55 FMCG Indonesia Total Grocery |Total 55 FMCG
Categories | YTD Mar 2017 Categories + Cigarette | YTD Mar 2017
58.6 57.7 58.5 58.1 59.2
74.9 73.9 74.2 74.0 75.0
15.4 15.3 14.5 13.4 12.8
8.5 8.5 8.1 7.4 7.0
26.0 27.0 27.0 28.5 28.0
16.6 17.6 17.7 18.6 18.0
2013 2014 2015 2016 Q1 2017 2013 2014 2015 2016 Q1 2017
Traditional Stores Super Hyper Minimarket Traditional Stores Super Hyper Minimarket
Source: Nielsen Retail Audit
INDUSTRY LANDSCAPE AS OF MARCH 2017
Store Number
Jan 17 Mar 2017
Alfamart 12,456 12,710
Alfa Midi 1,228 1,299
Lawson 34 35
Dan Dan 113 109
Circle K 422 410
Indomaret 13,940 14,214
Foodmart 70 68
Lottemart Super 2 2
Ramayana 101 97
Ranch Market 14 13
Farmers Market 17 17
Super Indo 141 141
Giant Ekspres 114 112
Hero 31 30
Hypermart 116 115
Lottemart Hypermarket 16 15
Giant Ekstra 55 56
Guardian 246 245
Boston 109 109
Watsons 60 59
Source: Nielsen Retail Audit
REGIONAL GROWTH AND CONTRIBUTION
Java still recorded the highest contribution of Indonesia Total Grocery (68.6%), whilst Kalimantan recorded the highest growth
of 12.6%.
Indonesia Total Grocery | Nielsen FMCG Categories|% Value Growth by Region | YTD Mar 2017
Indonesia
3.9%
growth
N.
Sumatra
-0.2% Contribution
5.0
Kalimantan
C. 12.6%
Sumatra
7.2% 5.0
Jakarta Sulawesi
4.4 4.5%
S. Greater
Sumatra -1.3%
8.6% 5.4
20.7
7.0
W.
E. Bali
Java C. Java Nusra
8.3% Java 2.4% 4.7%
3.3% Source: Nielsen Retail Audit
18.4
14.5 4.5
15.0
Greater Jakarta recorded minus growth of 1.2%. Nevertheless, it is still the highest contributor of 27.1% of Total
Indonesia Modern Trade.
Indonesia Modern Trade| Nielsen FMCG Categories | % Value Growth By Region | YTD Mar 2017
Indonesia growth
MT
N. Sumatra 3.7%
4.3%
Contribution
3.2
C. Sumatra
7.7%
Jakarta Other
5.6 Greater Islands
-1.2% 3.9%
S. Sumatra
6.1%
27.1
12.8
6.4
W. C. E.
Java Java Java
8.8% 4.8% 3.7%
17.8 13.0 13.6
Source: Nielsen Retail Audit
Operational Performance
ALFAMART GROUP AT A GLANCE
We are one of the leading minimarket chain operators in Indonesia
More than 14,000 stores scattered in Indonesia
500+ active Suppliers
132,000+ employees * 11.7 million + members
41 warehouses
Store Concept No .of Stores Description
Selling space 90-100 m2
Small format with > 4,000 SKUs
12,710 73% owned stores, 27% franchised
Mostly located in residential area
Selling space 250–300 m2
Larger format with > 7,000 SKUs
1,299 Selling fresh products in addition to groceries
Mostly located in residential area
Selling space 44 – 184 m2
35 > 2,500 SKUs
Mostly located in commercial area
Selling space 100 m2
> 5,000 SKUs
109 Targeting middle and middle lower consumers for health and beauty
related products
Mostly located in residential / commercial area
* Including Franchise store employees
STORE GROWTH
There is shift of new store opening / store presence from Greater Jakarta to Outside of Greater Jakarta and Outer Island during
the last 5 years.
Geographic Breakdown Company Owned & Franchise Stores
7.715 9.302 10.758 12.258 13.745 12.555 14.153
14.1% 17.9% 21.2% 25.4% 26.0%
27.7% 28.0%
3,383 3,451
42.3% 3,193
41.0% 37.4% 3,172
35.0% 34.6%
38.0% 37.7% 2,941
2,523
2,065
10,362 10,702
9,086 9,362
43.6% 41.1% 41.4% 39.6% 39.4% 6,779 7,817
34.3% 34.3% 5,650
2012 2013 2014 2015 2016 YTD Mar YTD Mar 2012 2014 2014 2015 2016 YTD Mar YTD Mar
2016 2017 2016 2017
Outside Java Java (Outside Greater Jakarta) Greater Jakarta Company Owned Franchise
Above are consolidated total number of Alfamart, Alfamidi, Lawson and Dan+Dan stores.
Warehouse
Java (24 warehouses) Outside Java (17 warehouses)
Cileungsi Semarang Medan 1 & 2a) Makassar 1 & 2a)
Jababeka 1 & 2a) Klaten
Pekan Baru Jambi
Cikokol Malang
Palembang Pontianak
Balaraja Sidoarjo
Lampung Banjarmasin
Bogor Jember
Denpasar Lombok
Bandung 1 & 2 Karawang
Kotabumi Batam
Plumbon Rembang
Samarinda a) Manado 1 & 2a)
Cilacap Parung
Surabaya a) Bitung 1 a) & 2 b)
Serang Yogyakarta a)
Notes:
Cianjur a) Alfamidi
b) Dan+Dan
As of March 2017, we managed 41 warehouses scattered throughout Indonesia
(32 warehouses for Alfamart, 8 for Alfamidi and 1 for Dan+Dan)
Financial Highlights
Income Statement Summary-Consolidated(Rp Billion)
as of March 31, 2017
Revenue Gross Profit
CAGR = 20.07% Unaudited CAGR = 25,08% Unaudited
56,107
10,873
48,265
9,209
41,496
7,735
34,624
6,376
26,992
4,442
12,271 13,763 2,514 2,974
2012 2013 2014 2015 2016 YTD Mar YTD Mar 2012 2013 2014 2015 2016 YTD Mar YTD Mar
2016 2017 2016 2017
EBITDA Income for The Year Atributable to the Parent
Company
CAGR = 20,97%
Unaudited CAGR = 5,72% Unaudited
3,306
2,791
2,568
602
2,087 539 540
482 451
1,544
673 794
67 73
2012 2013 2014 2015 2016 YTD Mar YTD Mar
2016 2017 2012 2013 2014 2015 2016 YTD Mar YTD Mar
2016 2017
Subsidiaries Include: PT Midi Utama Indonesia Tbk. , PT Sumber Indah Lestari, Alfamart Retail Asia Pte.Ltd (ARA), PT Sumber Trijaya Lestari.
Financial (Return & Leverage)
ROAA (%) ROAE (%)
Unaudited Unaudited
19.69 20.57
6.39 19.57
5.72
4.64
11.83 10.92
3.18 3.19
0.43 0.23 1.36 0.87
2012 2013 2014 2015 2016 Q1 2016 Q1 2017 2012 2013 2014 2015 2016 Q1 2016 Q1 2017
Net Gearing Ratio (x)
DER ( Gross Debt to Equity )
Unaudited
Unaudited
1.64 1.46
1.34 1.33 1.23
1.27 1.11 1.09
0.82 0.87 0.77
0.66
0.55
0.19
2012 2013 2014 2015 2016 31-Mar- 31-Mar- 2012 2013 2014 2015 2016 31-Mar- 31-Mar-
* Net Gearing (Consolidated) : as of Sep 30, 2016 1.14x
16 17 16 17
as of Sep 30, 2015 0.98x
