PT Catur Sentosa Adiprana Tbk · IDX:CSAP
PT Catur Sentosa Adiprana Tbk — Q1 2015 Earnings Presentation
19 slides from PT Catur Sentosa Adiprana Tbk's earnings presentation, Jun 24, 2015
Slide 1: The Leading Company in Distribution & Logistic and Retail in Indonesia
PT Catur Sentosa Adiprana Tbk The Leading Company in Distribu:on & Logis:c and Retail in Indonesia PT Catur Sentosa Adiprana Tbk Presenta:on Materials Public Expose June 24th, 2015
Slide 2: Vision and Key Milestones
PT Catur Sentosa Adiprana Tbk Vision To be the leading Indonesian Company in Distribu:on & Logis:c, and Retail in Indonesia and South East Asia Key Milestones Star:ng out as a single paint shop, CSAP has grown into a leading distributor and retailer of building materials, home improvement, home furn
Slide 3: Company Structure
PT Catur Sentosa Adiprana Tbk Company Structure PT Buanatata Adisentosa 31,3% NT Asian Discovery Master Fund 21,00% Management 5,4% Public 42,3% CSAP 70% 30% Sales Contribu:on DISTRIBUTION MODERN RETAIL 50% GPM 10-‐11% 16% 29% GPM 18-‐20% 1% Building Materials (48 Branches) 4% Chemicals (4 Branche
Slide 4: Distribution Segment
PT Catur Sentosa Adiprana Tbk Distribu:on Segment 4
Slide 5: Distribution Segments – Branches & Areas
PT Catur Sentosa Adiprana Tbk Distribu:on Segments – Branches & Areas ● Bengkulu 5% 17% Bekasi 40+ Principals & 4% 35,000+ Customers (Mid/Small Shops) 74% 17 Principals & 132,000+ Customers (Mid/Small Shops) 100+ Principals & 1. Cengkareng 9. Tangsel ● Lombok 3,400+ Customers 2. Kebayoran Lama 10. C
Slide 6: Building Materials Segment – Principals
PT Catur Sentosa Adiprana Tbk Building Materials Segment – Principals PT ICI Paints Indonesia (Paint) PT Primagraha Keramindo (Ceramic Tiles) PT Knauf Gypsum Indonesia (Gypsum) PT Mowilex Indonesia (Paint) M PT Osram Indonesia (Light Bulb) PT Propan Raya (Wood Finishing) U Dezhou ZhenHua DecoraXon G
Slide 7: Consumer Goods Segment – Principals
PT Catur Sentosa Adiprana Tbk Consumer Goods Segment – Principals TOP Principals: 2015 1. P&G Indonesia 41% 2. Frisian Flag Indonesia 16% 3. Nutrifood 9% 4. Univenus 7% 2014 5. Tiga Pilar Sejahtera 6% 6. Dua Kelinci 5% 2013 2012 2011 7
Slide 8: Consumer Goods Segment – Financial Highlights
PT Catur Sentosa Adiprana Tbk Consumer Goods Segment – Financial Highlights 1.000 847 30% CAGR 750 652 2010-‐2014: 80% 85% 500 352 300 273 250 58% 200 173 -‐ 2012 2013 2014 Sales (in IDR billion) 100 Best Distributor Award From Frisian Flag Indonesia -‐ P&G Best Growth & 1Q-‐2014 1Q-‐2015 8 Dis
Slide 9: Consumer Goods Segment – Financial Highlights
PT Catur Sentosa Adiprana Tbk Consumer Goods Segment – Financial Highlights 2012 2013 2014 1Q-‐2014 1Q-‐2015 Sales (in IDR billion) 352 652 847 173 273 GPM 8.0% 6.8% 7.1% 7.3% 7.4% OPM 1.2% -‐0.6% 1.1% -‐0.2% 3.0% EBITDA % 1.4% -‐0.4% 1.1% -‐0.2% 3.0% NPM 1.4% -‐0.5% 1.0% -‐0.4% 2.5% ROE 6.7
Slide 10: Modern Retail Segment
PT Catur Sentosa Adiprana Tbk Modern Retail Segment 10
Slide 11: Modern Retail Stores and Showrooms
PT Catur Sentosa Adiprana Tbk Modern Retail Stores and Showrooms 600+ Principals & 500,000+ Members (90% Home Owners) 21 Stores Palembang Building Materials & Home improvement ● Private Brand 17% Tidy, Sincere, Zehn 65,000+ SKUs - 17 Super Stores (>1000 M ) 2 - 4 Express Stores (<1000 M ) 2 10 Showr
Slide 12: Mitra10 - Historical Sales
PT Catur Sentosa Adiprana Tbk Mitra10 -‐ Historical Sales CAGR 17% 2.000 (SSG: 18%) 1.831 2010-‐2014 1.559 1.500 33% (SSG: 29%) 28% 1.173 1.000 500 600 13% 494 437 (SSG: 11%) -‐ 400 2012 2013 2014 Sales (in IDR billion) 200 -‐ 1Q-‐2014 1Q-‐2015
Slide 13: Mitra10 - Financial Highlights
PT Catur Sentosa Adiprana Tbk Mitra10 -‐ Financial Highlights 2012 2013 2014 1Q-‐2014 1Q-‐2015 Sales (in IDR billion) 1,173 1,559 1,831 437 494 GPM 17.6% 17.3% 17.5% 19.4% 19.0% OPM 2.9% 3.3% 3.5% 3.1% 3.2% EBITDA % 4.8% 4.9% 5.0% 4.5% 4.6% NPM 1.4% 1.9% 2.4% 2.0% 2.1% ROE 8.2% 13.3% 15.9% 14.9%
Slide 14: Summary
PT Catur Sentosa Adiprana Tbk Summary 89,022 products, comprising: —78,557 locally-‐sourced products Number of products: —10,465 foreign products —6,170 products exclusively distributed by CSAP Number of principals: More than 800 product principals 48 distribuXon branches in 39 ciXes 21 Mitra10 sto
Slide 15: Consolidated Financial Highlights
PT Catur Sentosa Adiprana Tbk Consolidated Financial Highlights 15
Slide 16: Consolidated Financial Highlights
PT Catur Sentosa Adiprana Tbk Consolidated Financial Highlights 8.000 20% 7.144 2.000 20% 11% 5% 6.439 1.721 16% 1.638 6.000 28% 16% 5.021 1.500 12% 14,6% 14,2% 12,6% 13,0% 13,0% 12% 4.000 1.000 8% 8% 2.000 3,9% 4,1% 4,2% 3,5% 500 3,6% 4% 4% 3,0% 3,4% 3,4% 2,8% 2,8% 1,1% 1,1% 1,5% 1,2% 1,1% -‐ 0% -
Slide 17: Consolidated Sales – by Segments
PT Catur Sentosa Adiprana Tbk Consolidated Sales – by Segments 8.000 1.638 5% 1.721 28% 6.439 11% 7.144 5.021 2.000 1,962 6.000 1,649 (27%) 525 (26%) 19% 1.500 468 (29%) 12% (30%) 1,230 34% 4.000 (24%) 1.000 4,789 5,182 1,170 2% 1,196 2.000 3,791 (74%) 8% (73%) (70%) 500 (71%) (76%) 26% -‐ -‐ 2012
Slide 18: Financial Highlights Q1 2015
PT Catur Sentosa Adiprana Tbk Financial Highlights Q1 2015 Retail Distribu:on Mitra10 Atria Total Consolidated Sales (in IDR billion) 1,196 494 31 525 1,721 GPM 11.64% 18.98% 37.68% 20.09% 14.22% OPEX % 8.40% 15.80% 56.53% 18.22% 11.42% OPM 3.24% 3.17% -‐18.85% 1.87% 2.80% EBITDA% 3.67% 4.55% -‐14
Slide 19: Financial Ratios
PT Catur Sentosa Adiprana Tbk Financial Ra:os 2012 2013 2014 Q1-‐2014 Q1-‐2015 EPS* 20 25 36 7 7 Book Value / Shares 224 248 283 256 289 Current RaXo 1.10 1.07 1.13 1.08 1.13 Interest-‐bearing Debt /Equity 1.18 1.31 0.99 1.37 1.10 ROE 8.85% 9.92% 12.78% 10.38% 9.33% ROA 2.28% 2.29% 3.16% 2.41% 2.
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