CSAP Books Revenue Of Rp11.42 Trillion In The Third Quarter Of 2022

Photo: Doc. Catur Sentosa Adiprana

JAKARTA - PT Catur Sentosa Adiprana Tbk (CSAP), a distribution company for Building Materials, Consumer Goods/FMCG, Kimia and a network owner of the Modern Retail store building materials and Mitra10 & Furniture home improvement attri managed to book revenue of IDR 11.42 trillion in the third quarter of 2022. This achievement grew 9.9 percent compared to the same period in 2021 of IDR 10.38 trillion.

The two segments owned by CSAP are the Distribution Segment (Building, Chemical & FMCG) and the Modern Retail Segment (Building & Home Furnishing) posted positive performance throughout nine months of 2022.

The Distribution segment recorded revenue of IDR 7.3 trillion (before elimination/cost of goods sold) grew 6.7 percent yoy compared to last year's achievement of IDR 6.8 trillion. This segment contributes 64 percent of consolidated revenue. Currently, the distribution segment has 46 Building Materials Distribution Branches in various major cities in Indonesia, 5 Chemical Distribution branches, 38 consumer Goods (FMCG) distribution areas.

The modern retail segment, represented by modern retail networks of building materials and Mitra10 Home Improvement and modern retail network Home Furnishing Atria, posted revenue (before elimination/subjection of consignment sales) of IDR 4.3 trillion, growing 17.7 percent compared to the same period last year of IDR 3.6 trillion.

In the modern retail segment, the Company already has 45 modern Mitra10 retailers and 19 Home Furnishing Atria showrooms. The modern retail networks are spread across major cities in Indonesia such as Jabotabek, Cikarang, Karawang, Cirebon, Yogyakarta, Solo, Sidoarjo, Semarang, Tegal Surabaya, Malang, Denpasar, Lampung, Palembang, Batam, Medan, Pekanbaru, Makassar, Mataram, Balikpapan, and Banjarmasin.

CSAP will continue its aggressive expansion strategy by targeting to own 50 Mitra10 stores by 2023 and 100 Mitra10 stores by 2030.

Surjati Tanril, Chief Financial Officer of CSAP explained that Mitra10's modern retail expansion strategy has contributed positively to the company's performance.

"This can be seen from the growth in income figures originating from the modern retail segment and the increase in the contribution of the modern retail segment which has now reached almost 40 percent of consolidated revenue," he said in a written statement, Monday, November 21.

Until the end of September 2022, CSAP managed to book a gross profit of IDR 1.86 trillion, equivalent to 10.4 percent growth compared to last year's achievement of IDR 1.69 trillion. The gross profit margin in the third quarter of 2022 was 16.33 percent compared to the same period last year of 16.26 percent.

Solidness in gross profit growth also continued with net profit growth (clean profit attributable to the parent entity) of up to 22.3 percent YoY to Rp167 billion, compared to the same period last year of Rp137 billion.

"The growth in bottom line performance cannot be separated from the strategy carried out by the company. This strategy is an aggressive expansion strategy for the modern retail segment, network strengthening distribution segments and adding new products. This strategy has a positive impact on increasing revenue and increasing the company's net margin for better profit growth," he concluded.