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Management Presentation PT Sumber Alfaria Trijaya Tbk Management Presentation PT Sumber Alfaria Trijaya Tbk As of September 2011 Page 1 TABLE OF CONTENTS Indonesia Macro Economics Highlights Company Overview Industry Overview Business Overview Operational Highlights Financial Highlights Future Strategies Page 2 Indonesia Macro Economics Highlights Page 3 STRONG GROWTH OF INDONESIAN ECONOMY • Real GDP growth of 5.7% ( five years average), GDP/ Capita of around US$ 3,000 /year (as of December 2010) • Relatively Stable BI Rate at 6.75% since January 2010 ( down to 6.50% as of October 2011) • Manageable inflation rate (tend to get lower) • Rising middle class population • Surging investment on a broad scale basis which creates employment Page 4 Company Overview Page 5 VISION, MISSION & VALUES ● “ To be Indonesia’s largest and globally competitive widely owned retail distribution network that empowers small entrepreneurs and fulfils customer VISION needs and expectations” ● To satisfy customer needs and expectations by focusing on high quality products and services ● To implement ethical business practices to be the best in all of our actions MISSION ● To develop entrepreneurial spirits and skills in the Company and the society ● To develop a reliable, healthy and growing organization which benefits all stakeholders ● We set high standards for Integrity, Innovation, Quality and Productivity, VALUES Teamwork, and Customer Satisfaction Page 6 COMPANY OVERVIEW We are one of the leading minimarket chain operator in Indonesia ● As of September 2011, the Company operates 5,477 outlets (1,542 franchised ) ● 58,000+ employees ● 17 Distribution Centres (DCs) ● 400+ active Suppliers ● Striving to be a true community store ● Well-developed CSR Program to connect with the community ● Local residents can own Alfamart stores through franchise scheme Recognized by independent market consultants Alfamart by numbers ● 1.0 million+ – basic training hours for employees “The Highest Store Equity Index” based on per year Nielsen Research for four years in a row ● 2.0 million+ – customers per day ● 45 million + – km distance our trucks travel per year, distributing goods to stores 2007 2008 2009 2010 Page 7 COMPANY HISTORY 2011 2010 Shareholders structure : Major milestones Shareholders Sigmantara Alfindo 2009 structure : (64,66%),SSB HG22 2006 IPO and listing in Sigmantara Alfindo Small Cap Inc. ( 8.0%), PT HM Sampoerna Tbk Indonesia Stock (74.66%) and Public HSBC Services Client sold its shares. Exchange (25.34%) (6.73%), BSI Bank Shareholders structure : 1999 Limited (5.41%) and Sigmantara Alfindo (60%) Public (15.20%) The first Alfa Minimart, 1994 and PT Cakrawala Mulia located at Jl. Beringin Prima (40%) Ownership Raya, Karawaci, restructuring: PT HM Tangerang, Banten, Sampoerna (70%) commenced operation and Djoko Susanto Family (30%) 1989 Founded by Djoko 2011 Susanto and 5,400+ stores in family operation Prepare for Palembang market 2010 4,800+ stores in operation Entry to Makassar market 2009 3,300+ stores in operation Entry to Bali market 2007 2,700+ stores in operation Entry to Lampung market 2005 Store growth 1,200+ stores in operation Page 8 SHAREHOLDING STRUCTURE SSB HG22 HSBC-Fund PT Sigmantara BSI Bank Smallcap World Services Public < 5 % Limited Alfindo Fun Inc Clients 64.66% 8.00% 6.73% 5.41% 15.20% PT Sumber Alfaria Trijaya Tbk (Listed) 12.75% PT Midi Utama Indonesia Tbk (Listed) Page 9 AWARDS 2008 z “The Integrated Market Development & Distribution System Champion” in “The Dream Team Championship 2008” from Markplus Inc., Indonesian Marketing Association and SWA Magazine z The Best IT in Marketing, The Best in Experiential Marketing and The Best in Social Marketing from Frontier Consulting Group and Marketing Magazine z Top Brand 2008 from Frontier Consulting Group and Marketing Magazine z Indonesia Best Brand Award 2008 from MARS Research Specialist and SWA Magazine z Superbrands Indonesia 2008 z “The Highest Store Equity Index” based on Nielsen Research 2009 z Word of Mouth Marketing Award (WOMMA) from SWA Magazine and Onbee Marketing Research z Top Brand 2009 from Frontier Consulting Group and Marketing Magazine z Indonesia Best Brand Award 2009 from MARS Research Specialist and SWA Magazine z Superbrands Indonesia 2009 z Indonesia’s Most Admired Companies 2009 from Frontier Consulting Group and Business Week Indonesia z “The Highest Store Equity Index” based on Nielsen Research 2010 z “Rekor Bisnis Indonesia” from Harian Seputar Indonesia for The Most Growing Minimarket in Indonesia z Word of Mouth Marketing Award (WOMMA) from SWA Magazine and Onbee Marketing Research z Indonesia’s Most Admired Companies 2010 from Frontier Consulting Group and Business Week Indonesia z Indonesia Best Brand Gold Award 2010 from Mars Research Specialist and SWA Magazine z Top Brand 2010 from Frontier Consulting Group and Marketing Magazine z Net Promoter Customer Loyalty Awards from Octavate Consulting Group z Digital Marketing Awards from Frontier Consulting Group and SWA Magazine 2011 z CSR Award from Harian Seputar Indonesia z Choice Brand 2011 Awards from KARTINI Magazine z Services Quality Award 2011 from Service Excellence Magazine and Care Centre for Customer Satisfaction & Loyalty z Indonesia Best Brand Gold Award 2011 from Mars Research Specialist and SWA MAgazine z Indonesia’s Most Admired Company from Frontier Consulting Group and Business Week Indonesia z Word of Mouth Marketing Award (WOMMA) from SWA Magazine on Onbee Marketing Research z Indonesia Original Brands Award 2011 z CMO awards for The Best Employers Award and Brand Best Leadership Award Page 10 INDUSTRY OVERVIEW Page 11 RAPID DEVELOPMENT OF MODERN RETAIL TRADE IN INDONESIA Up to September 2011, Indonesia Grocery managed to grow by 11.3% (excl. Cigarette) 129,247 + 11.3% + 11.8% 102,425 + 4.7% 92.026 + 21.1% + 15.2% + 14.3% + 17.7% + 13.8% 2003 2004 2005 2006 2007 2008 2009 2010 YTD YTD 2010 2011 Sales Value in Billion (Rp) Source : Nielsen Retail Audit Page 12 RAPID DEVELOPMENT OF MODERN RETAIL TRADE IN INDONESIA Market share of minimarket grows from 21.2 % to 21.7 % YoY Trade Channel Contribution | Total 55 Categories – excluding cigarette 4.9 5.3 8.2 10.2 12.1 14.1 15.3 18.9 21.4 21.2 21.7 25.2% 20.2 21.0 22.2 22.2 23.2 22.2 21.7 41.8% 21.7 19.8 19.6 20.1 74.8 73.7 69.6 67.57 64.7 63.7 63.1 59.4 58.8 59.2 58.2 2002 2003 2004 2005 2006 2007 2008 2009 2010 YTD Sep- YTD Sep- 2010 2011 Minimarket Super/Hypermarket Traditional Stores Source : Nielsen Retail Audit Page 13 INDONESIA GROCERY GROWTH Food and Personal Care are driving the growth TOP-10 Grocery Growth of Indonesia Grocery Indonesia Grocery I YTD Sep 2011 vs. YA | Sales Value Growth % Indonesia Grocery | Volume & Value Growth % | YTD Sep 2011 vs. YA -0.3 Instant Noodles 7.4 5.0 Total 55 11.3 Powder Milk 6.1 1.9 Biscuit 5.3 11.8 Coffee 15.8 Volume Growth % Food 12.0 Detergent 3.7 Value Growth % Personal Care 14.0 2.6 14.7 Branded Cooking Oil 38.7 3.3 SCM Home Care 5.0 5.8 Non Food 10.1 6.4 Skincare 13.6 6.8 Pharmaceutical 5.5 Shampoo 15.1 0.1 Toilet Soap 7.7 Source : Nielsen Retail Audit Page 14 ALFAMART IS BEST PLACED TO EXPLOIT THIS OPPORTUNITY Alfamart market share increased by +0.7% ( of total Indonesia Grocery ) and +1.2% ( of total MT ) Alfamart Market Share | Total 55 Categories | YTD Sep 2011 vs. YA Share to Total Indonesia Share to Total Indonesia MT Grocery +1.2% +0.7% 15.5 16.7 6.2 6.9 YTD 10 YTD 11 YTD 10 YTD 11 Source : Nielsen Retail Audit Alfamart is able to capture the market growth as it has a proven track record in managing growth 510 CAGR: + 29% 5477 CAGR: + 29 % 432 4812 3373 288 2779 247 2266 203 155 1755 1542 109 125 898 71.8 485 646 55.7 195 321 23.8 40.7 2006 2007 2008 2009 2010 Sep-11 2006 2007 2008 2009 2010 Sep-11 Regular Selling Space (in 000m2) Regular Store Franchise store Franchise Selling Space (in 000m2) Page 15 Business Overview Page 16 ALFAMART MINIMARKETS Alfamart Minimarkets Store Floor Plan • PER STORE DATA • Avg 90m2 selling area, 7-10 employees • Rp 9.4 million avg sales/day • Spend per basket (Rp 25,483) • Member’s Spend per basket (Rp 46,000) • Number of SKUs (4,500) • Capex for new store : approx 700-800 million • Sales Mix (70% food and 30% non-food) Page 17 FRANCHISE STORES Franchise Stores – Overview • Important part of our growth No. of franchise stores as % of total • Franchisees are mainly local residents •Two ways to become franchisee: 1,755 2,266 2,779 3,373 4,812 5,477 • Propose a new location • Takeover of an existing store (w/ goodwill) 26% 27% 28% • Franchise terms: 23% 21% • Duration : 5 years 18% • Fees : Rp 45 million for 5 years • Royalty fee : 2 % on average • Distribution margin : 2% • Company provides operational standards and controls : • Merchandise mix and pricing 2006 2007 2008 2009 2010 Sep-11 • Recruitment and training • Performance reporting Page 18 DISTRIBUTION CENTRES Distribution Centres – Overview Integrated system and IT driven (order, receiving, storage, picking and delivering), work 7 days a week, • Hub and Spoke network with Strategically located DCs to ensure stock fulfilling in all of our stores • Comprehensive IT system determines the inventory needs of each store • Each DC is uniquely designed to our specific needs • Key information on DCs (small/medium/large) • #of DCs : 5/6/6 • Store served : 150-250/250-350/350+ • Land size : 1.5/2.5/3.5 hectares + • Storage area : 4,000/5,000/6,000+m2 • Owned : 11 DCs/ Leased : 6 DCs Number of Distribution Centres • Capex: approx Rp 55 billion - Rp 80 billion ( incl.
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