FOR IMMEDIATE RELEASE
March 18, 2023
ANOTHER PROFITABLE YEAR FOR MPC, DRIVEN BY STRONG TURNAROUND IN RETAIL SECTOR & CONSISTENT GROWTH IN SYSTEM INTEGRATION BUSINESS
- IDR 151.2 billion in net profit along with 5.3% revenue growth
- Deleveraging initiative with IDR 1.2 trillion mostly in accelerated debt repayments
- Continues investments in strategic technology-based services
Jakarta, March 18, 2023. MPC (PT Multipolar Tbk, “the Company”, ticker code MLPL) today reports its 2022 financial performance by posting revenues of IDR 10.9 trillion, up 5.3% from IDR 10.3 trillion in the previous year, mainly driven by a consistent & strong performance of the Company’s retail & system integration businesses. On the bottom line, the Company recorded IDR 151.2 billion profit attributable to parent.
The Company continued its deleveraging initiative by reducing its bank loans from IDR 3.4 trillion in the previous year to IDR 2.2 trillion mostly through accelerated repayments, resulting in significant interest expense reduction. The Company went further in managing its liability by converting all its USD-denominated bank loans into Rupiah to address currency mismatch risks. The Company also successfully carried out an IDR 521.3 billion rights issue, further strengthening its capital structure.
MPC’s retail businesses delivered exciting growth in 2022. Matahari Department Store (“MDS”, ticker code LPPF) continued to show a strong business turnaround with a gross sales of IDR 12.4 trillion, a 20.7% growth from 2021 & a net profit of IDR 1.4 trillion, a very significant increase of 51.5% from the previous year. MDS achieved this by pushing for the full potential of merchandising, store network optimization, omnichannel expansion, operational excellence, loyalty management & tight expense control. MDS opened 10 new stores with a new look & feel, plus a target to open 7 more new locations nationwide before Lebaran 2023. MDS also launched a rebranding initiative in 2022, conveying improvements in price value, products, shopping experience & human resources to its customers.
Matahari Putra Prima (“MPPA“, ticker code MPPA), with its Hypermart, Foodmart, Hyfresh, FMX & Boston stores achieved a 5.4% increase in net sales to IDR 7.0 trillion. Fresh produce was at center stage to drive traffic into MPPA’s stores, supported by omnichannel & digital payment as an indispensable part of the modern consumer’s convenience & shopping experience. MPPA further optimizes its stores network with standalone, smaller-sized & cost-effective stores. Taking this to the next level, this year MPPA has embarked in a brand new transformation program to fine tune its store platforms and concert an integrated business, operation & marketing programs to drive sales growth & optimize cost structure.
In the technology & digital business, Multipolar Technology (“MLPT”, ticker code MLPT) continues to perform very well, booking revenues of IDR 3.4 trillion, up 14.9% from the previous year & a net profit of IDR 556.1 billion, a significant increase from IDR 260.9 billion in 2021. MLPT continues to support the country’s acceleration of digital transformation by enhancing capabilities in the latest technologies such as cloud, big data & AI, digital business transformation & security, broadening its digital & technology investment portfolio & developing competent human resources.
Making new investments is crucial to MPC’s growth into the future. MPC continues to seek opportunities & invests in health tech, fintech & other technology-based services.
Adrian Suherman, CEO & President Director of MPC said: “We are excited to see that the country rose up well from pandemic times & new opportunities for growth have started to emerge. After undertaking various consolidation & realignment of our businesses – which include optimizing the balance sheet, making new strategic investments, improving operations & strengthening the core team, MPC is in great position to capitalize on this momentum.”
MPC is an investment company focusing on consumer and technology space in Indonesia. MPC is listed in Indonesia Stock Exchange (IDX). MPC’s portfolio companies include several entities listed on the IDX, including PT Matahari Putra Prima Tbk (“MPPA”; ticker code MPPA), the operator of “Hypermart” which is one of the leading supermarket chains in Indonesia, PT Matahari Department Store Tbk (“MDS”; ticker code LPPF), which owns the largest department store chain in Indonesia, PT Multipolar Technology Tbk (“MLPT”; ticker code MLPT), PT First Media Tbk (“FM”; ticker code KBLV) & PT Bank National Nobu Tbk (“NOBU”; ticker code NOBU).
Chief of Business Development & Investor Relations – MPC