Sales at Hypermart Selling Well, the Sun Gets Rp 63 Billion Profit

PT Matahari Putra Prima Tbk (MPPA) recorded a rise in net income during the first quarter of 2013 to Rp 63.2 billion. The figure was up 53.96% of the net profit the same period the previous year which only Rp 29 billion.

The company’s net profit increase was supported by higher revenues in the first quarter of 2013 which reached Rp 2.6 trillion, up 13.04% from the same period revenue last year amounted to Rp 2.3 trillion.

Acquisition of the company’s revenue is contributed full of Matahari Food Division (MFD), which is more than 90% is the result of the Hypermart.

This performance can not be directly compared with last year’s performance, due to the divestiture of assets / non-core business at the end of 2012 ago.

Since its launch in 2004 Hypermart, MFD scored a CAGR growth rate of 27.9%, which is the core strength of the Company’s growth and future prospects.

Operating profit also rose 32.2% to USD 74.6 billion from USD 56.4 billion last year. EBITDA reached USD 165 billion.

MPPA now recorded net interest income of USD 6.9 billion in the first quarter of 2013, higher than net interest expense of Rp 5.6 billion last year. This is due to lower interest expense of Rp 38.3 billion from Rp 62.7 billion last year, in line with the Company’s plan for the payment of the debt from the results obtained from the divestment of non-core end of last year.

Throughout the first quarter of 2013, the company has opened 2 new Hypermart stores located in Jakabaring, Palembang and Ambon.

New outlets Jakabaring further strengthen market dominance Hypermart in West Sumatra, while new outlets Ambon, which is a second outlet in the Maluku islands, also further strengthen market penetration and expansion Hypermart landing in eastern Indonesia.

In 2013, the Hypermart plans to open 20 new outlets across Indonesia.

“It makes us a hypermarket operator with the highest growth rates. Hypermart We will deliver the 100th will be operated at the end of 2013 and will be the largest and leading hypermarket retailer in Indonesia,” said Benjamin Mailool MPPA President in his press conference, in Jakarta, Monday (06/03/2013).

In the same period, MPPA also welcome Temasek Holding a significant shareholder with a plan to have a 26.1% ownership stake in the MPPA.

Together with PT Multipolar Tbk (MLPL) as the majority shareholder with a 50.2% stake, MPPA will get a more solid support from shareholders in its aim to develop the retail business forward.

“We are proud to see MPPA still carve out a good performance in the first quarter of 2013 despite having to operate in a challenging market environment,” said Benjamin.

In addition, the divestment of non-core as well as the successful participation as a strategic shareholder Temasek increasingly bring MPPA achieve its mission to be the No. 1 modern FMCG retailer in Indonesia in the next short period.

“MPPA is a leading modern FMCG retailer in Indonesia, which has the widest network of stores by 82 hypermarkets, 28 supermarkets, 80 pharmacy outlets that operate in more than 52 cities across Indonesia,” he said.

PLN: Net Profit Up 15 833 Percent

Company Limited reported a net profit of PLN in the first half of 2013 amounted to 15 833 percent compared to the same period of 2012.
Head of Commercial Division PLN Benny Marbun in Jakarta on Thursday, said the first half of 2013, net income reached Rp 4, 78 trillion, a significant increase of Rp 4, 75 trillion over the same period of 2012 which only 30 billion.
“The increase in net income was mainly due to tremendous rise in foreign exchange earnings which are noncash Rp 7, 6 trillion,” he said.
In the first half of 2012, the electricity SOEs suffered losses at Rp 6, 7 trillion, while the first half 2013 profit rate RP0, 9 trillion in order to obtain foreign exchange gain of Rp 7, 6 trillion.
Though, Benny continued, on the other hand an increase in interest expense and finance Rp2, 3 billion and increase the tax burden Rp1, 6 trillion.
According to him, the increase in foreign exchange gain of Rp 7, 6 trillion, mainly due to the appreciation of the rupiah against the yen by 10.4 percent even though at the same time the rupiah depreciated 2.7 percent against the U.S. dollar.
In the first half of 2012, the rupiah depreciated against both the yen and the U.S. dollar, respectively 2.4 percent and 4.5 percent.
“PLN pretty much liability in that decline yen yen positive impact on net income,” he said.
Benny also said that the first half of 2013 operating revenues rose 4.8 percent to Rp116, 7 billion when compared to the first half of 2012 amounted to Rp111, 4 trillion.
The increase in revenue, primarily from an increase in sales volume due to the addition of electric power customers and increase rates on a quarterly basis starting in January 2013 account.
Meanwhile, the operating expenses recorded Rp98, 3 trillion, up 3.6 percent compared to 2012 Rp94, 9 trillion.
“The increase in operating expenses among others, due to increased consumption of fuel and lubricants due to increased electricity sales and rising fuel prices,” he said.
Thus, he continued, first half 2013 operating income rose R1, 9 billion or 11.5 percent of Rp16, 5 trillion to Rp18, 4 trillion.
To EBITDA increased 10.1 percent to Rp30, 4 trillion from Rp27, 6 trillion.
The amount of non-current assets increased 2.6 percent to Rp484, 6 trillion on June 30, 2013 from Rp472, 1 trillion on December 31, 2012.
Current assets rose 0.9 percent to Rp69, 2 trillion on June 30, 2013 from Rp68, 6 trillion at December 31, 2012.
“The total number of the company’s assets at the end of Semester 1 in 2013 amounted to Rp553, 8 billion or increased by Rp13, 1 trillion from Rp540, 7 billion at December 31, 2012,” said Benny.