Mitra10 And Atria Outlet Owners, Catur Sentosa Adiprana Books A 153 Percent Surge In Net Profit, Targets To Have 50 Outlets In 2023

JAKARTA - PT Catur Sentosa Adiprana Tbk (CSAP), achieved consolidated sales of IDR 6.7 trillion in the first semester of 2021. This achievement grew 16 percent compared to the same period in 2020 with the achievement of IDR 5.8 trillion.

Catur Sentosa Corporate Secretary Adiprana Idrus Widjajakusuma said the modern retail segment (building materials, home improvement & home furnishing) sourced from the modern retail network Mitra10 and Atria posted revenue of Rp2.4 trillion, grew 13 percent compared to last year's achievement in the same period. which is IDR 2.1 trillion.

"This segment contributes 36 percent to the company's consolidated sales," said Idrus during a virtual public expose, Thursday, September 2.

Throughout 2021, CSAP has relocated 1 Mitra10 outlet in Kalimalang and inaugurated two new outlets in Banjarmasin, South Kalimantan and Palembang, South Sumatra. Then until December 2021, CSAP will open an additional two new Mitra10 outlets in Semarang and Tegal, Central Java to complete the target of 4 new Mitra10 outlets throughout 2021.

As for the other segments, namely distribution (building materials, chemicals and FMCG) in the first semester of 2021, they posted revenue of Rp. 4.4 trillion, growing 18 percent compared to the first semester of 2020, which was worth Rp. 3.8 trillion. This segment accounts for 64 percent of CSAP's consolidated sales.

"The performance of the two segments managed to grow positively in the first six months even though the pressure of the pandemic and activity restrictions was still felt both globally and nationally," said Idrus.

The growth in sales figures on a consolidated basis has succeeded in lifting the company's profit performance. CSAP managed to record a net profit surge of 153 percent in the first semester of 2021, to Rp79 billion compared to the same period in 2020, which was Rp31 billion.

This year CSAP will continue to set an aggressive expansion strategy for the Mitra10 retail segment and focus on private/house brands to increase profitability, the contribution of private brands is important because it can increase a better margin profile which ultimately increases profitability.

Regarding the Mitra10 network development target, the company targets to have 50 outlets in 2022-23. Thus, by the end of 2021, Mitra10 will have 42 store chains throughout Indonesia.

The 8 new stores will be completed in the following years which was delayed due to the pandemic issue. To support this plan, CSAP in 2021 has prepared a capital expenditure of IDR 500 billion, of which 80 percent is allocated to finance the expansion of Mitra10 and Atria modern retail.