Earning IDR 3.5 Trillion In Revenue In The First Quarter Of 2021, Mitra10 Outlet Owners Expand To Banjarmasin

JAKARTA - PT Catur Sentosa Adiprana Tbk (CSAP), a distribution company for building materials, chemicals and consumer goods/FMCG, is again expanding by inaugurating Mitra10 Banjarmasin.

CSAP Corporate Secretary, Idrus H. Widjajakusuma said, Mitra10 Banjarmasin is the 39th Mitra10 superstore network spread across 22 cities throughout Indonesia.

"The superstore is operated by PT Catur Mitra Sejati Sentosa (CMSS) as a subsidiary which is 99.9 percent owned by CSAP and is the first superstore located in Banjarmasin, South Kalimantan," said Idrus in a written statement, Friday, June 11.

Mitra10 Banjarmasin occupies an area of 2 hectares. The total building occupies an area of 7,000 square meters (m2) with a selling area of 2,500 m2 that offers 25,000 types of products (Stock Keep Units / SKUs).

"More than 80 percent of domestic products are of export quality," he explained.

Idrus further explained, the election of Banjarmasin City cannot be separated from the potential and economic conditions of this city. Banjarmasin is the economic center of South Kalimantan.

"This can be seen from the entry of several large national developers who have entered the city of a thousand rivers. The issue of moving the State Capital to East Kalimantan is also a growth catalyst for big cities in Kalimantan, where the movement of the capital will encourage growth in demand for residential areas. and commercial," said Idrus.

He believes that the prospect of the building materials retail industry will continue to grow sustainably, considering that it is closely related to one of the basic needs, namely housing or housing. Moreover, Mitra10's main target market is end users or residential owners who want to renovate or build their dream home.

To date, Mitra10 has been operating in major cities in Indonesia, namely: Jabotabek, Cikarang, Karawang, Cirebon, Yogyakarta, Solo, Sidoarjo, Surabaya, Malang, Denpasar, Lampung, Palembang, Batam, Medan, Makassar, Balikpapan and Banjarmasin. .

In the first three months of 2021, the modern retail segment (building materials, home improvement & home furnishing) sourced from the modern retail network Mitra10 and Atria posted revenue of Rp. 1.3 trillion, grew 6.4 percent compared to last year's achievement in the same period, namely IDR 1.2 trillion. This segment contributes 36 percent to the company's consolidated revenue.

The modern retail segment has ample room to grow larger considering the Indonesian population and its very wide coverage area, and has the potential to contribute to a larger profit margin than the distribution segment.

The other segments, namely distribution (building materials, chemicals and FMCG) in the first quarter of 2021 posted revenues of Rp. 2.3 trillion, growing 16.6 percent compared to the first quarter of 2020, which was Rp. 1.91 trillion. This segment accounts for 64 percent of CSAP's consolidated revenue.

On a consolidated basis, CSAP's consolidated revenue was recorded at Rp3.5 trillion, a positive double-digit growth of 13 percent compared to the achievement in the same period last year of Rp3.1 trillion. A separate achievement considering that in 2020 the issue of the pandemic enveloped economic growth, even according to BPS, there was a 2.07 percent contraction in economic growth.

The growth in sales figures on a consolidated basis succeeded in lifting the company's profit performance. CSAP managed to record a net profit surge of 195 percent in the first quarter of 2021, to Rp64 billion compared to the same period in 2020, which was Rp22 billion.