This presentation contains "forward-looking statements", which are based on current expectations and projections about future events, and include all statements other than statements of historical facts, including, without limitation, any statements preceded by, followed by or that include the words "targets", "believes", "expects", "aims", "intends", "will", "may", "anticipates", "would", "plans", "could", "should", "predicts", "projects", "estimates", "foresees" or similar expressions or the negative thereof, as well as predictions, projections and forecasts of the economy or economic trends of the markets, which are not necessarily indicative of the future or likely performance of the Company, and projections and forecasts of their performance, which are not guaranteed. Forward-looking statements include statements about targeted selling space expansion, store openings, new store payback periods and margins and inventory days, which are subject to uncertainties regarding general economic conditions in Indonesia and globally, trends in our industry, our financial and other resources, our relationships with the brands we sell, and other factors. Such forward-looking statements, as well as those included in any other material discussed at the presentation, concern future circumstances and results and involve known and unknown risks, uncertainties and other important factors beyond the Company's control that could cause their actual results, performance or achievements to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. Such forward-looking statements are based on numerous assumptions and estimates regarding the Company's present and future business strategies, including expansion plans and the environment in which they will operate in the future. Forward-looking statements are not guarantees of future performance. These forward-looking statements speak only as at the date of this presentation, the Company does not intend to supplement, amend, update or revise any forward-looking statements as a result of new information or to reflect future events or circumstances, except as required under applicable laws. These materials have not been independently verified and will not be updated. These materials, including but not limited to forward-looking statements speak only as at the date of this presentation and is not intended to give any assurances as to future results. The Company expressly disclaims any obligation or undertaking to supplement, amend, update or revise any materials, including any financial data or forward-looking statements, as a result of new information or to reflect future events or circumstances, except as required under applicable laws. Given the abovementioned risks, uncertainties and assumptions, you should not place undue reliance on these forecast and projections. Past performance is not necessarily indicative of future performance. This presentation contains certain non-GAAP measures, including EBITDA, Adjusted EBITDA, Adjusted EBITDA margin, Adjusted net income and Adjusted net income margin, that are not audited, not included in the Company's audited financial statements and not presented in accordance with Indonesian Financial Accounting Standards. The measures have been used by management as a supplemental measure of the Company's performance. Although these measures are either contained in or fully reconcilable to line items on the Company's financial statements and/or based on management accounts, they may not be equivalent to similarly named measures used by other companies, and should not be considered as a measure comparable to income statement items for the year in the financial statements. This presentation also contains certain statistical data and analyses (the "Statistical Information") which have been prepared in reliance upon information furnished by the Company and/or third party sources for which the Company has obtained the necessary consents for use. Numerous assumptions were used in preparing the Statistical Information, which assumptions may or may not appear herein. As such, no assurance can be given as to the Statistical Information's accuracy, appropriateness or completeness in any particular context, nor as to whether the Statistical Information and/or the assumptions upon which they are based reflect present market conditions or future market performance. Moreover, any information from third party sources contained in these materials may not be used or relied upon by any other party, or for any other purpose, and may not, directly or indirectly, be reproduced, disseminated or quoted without the prior written consent of such third party 2c
Overview of MAP Active 3
4c 4
Our Vision To bring Sports & Healthy Living to all Indonesians To enjoy the Game of Life ! 5
MAP Active partners with CVC 6 6 6
MAP Active at a glance #1 sports retailer in Indonesia with 63% dominant market share in 2017 1 Operates 1,074 stores and 194,677sqm of selling space in 74 cities as of December 31, 2018 2 73.6% of sales generated through our 10+ proprietary multi-brand chains 150+ brands, of which 40+ are exclusive brands c.US$438m sales in 2018 3 and 23% YOY revenue growth in 2018 11.8% SSSG 4 , 16 % Adjusted EBITDA margin and 10% Adjusted net margin in 2018 PREMIUM LEISURE SPORTS VALUE Note: 1. International Sportswear-focused Sports Goods Store Retailers. Source: Euromonitor Report 2. Excludes two stores in Vietnam as of Mar 2019 3. Based on USD IDR exchange rate of 14,243, the average exchange rate in 2018 based on Bloomberg 4. 7 SSSG is the percentage change in revenue over the corresponding prior period generated by stores included in the comparison. A store is included in the prior period for all months during which it had been open for at least 12 months and is included in the corresponding portion of the second period
Our Business Indo Indone nesia's sia's #1 #1 spo sports rts reta retail il mark marketing eting po powerh werhou ouse se with with no no clos close e co compe mpetitor titor Unique Un ique multi multi-tier tier reta etail il Comp ompreh ehen ensi sive pr e prod oduc uct t str strate tegy y ca catering tering to to wide ide offering wi of ering with th the l the lar argest gest ran ange ge of of co consume nsumer r se segme gments nts portf po tfolio olio of of e exclusi lusive e br bran ands ds in in spor sports ts Unriv Un rivalled alled rea each w h with ith Sustaine Sustained op d oper erationa tional l na nationw tionwide pr ide presen esence ce exce cell llen ence ce thr throu ough gh 20+ 20+ yea ears s of of e exp xperien erience ce 8 8
Key investment highlights 9
Indonesia's #1 sports retail marketing powerhouse 1. Significant growth opportunity in highly underpenetrated Indonesia sports market 2. Indonesia's #1 sports retail marketer strategically positioned to capture the strong macro trends 3. Unique multi-tier and diversified portfolio of proprietary retail banners 4. Trusted partner of choice for over 40 exclusive international brands 5. Operational excellence across supply chain and store operations 6. Outstanding financial track record with a focus on profitable growth 7. Beneficial relationship with MAPI 8. Experienced professional management team with strong track record of execution 10
Indonesia as the perfect staging ground for MAP 1 Active’s expansion Indonesia – 4 th largest in the world, largest in … with growth supported by strong … and a young population domestic demand… Southeast Asia 3x 3x 4x 8x 47x 9.5% Indonesia’s relative 9.1% 264 2012 - 2018 Nominal GDP CAGR 8.7% 43 size (2017) 39 2018 median age (years) 2017 Population (m) 6.7% 32 29 29 5.0% 25 4.6% 105 96 66 32 6 PH ID MY VN TH SG ID PH VN TH MY SG ID VN PH MY SG TH Note: 2012 – 2017 CAGR used for Vietnam and Thailand … along with sports goods stores retail Sportswear retail sales is still significantly underpenetrated… selling space 98.7 selling space per '000 people (sqm) 11.5 2017 Sports goods stores retail 2017 Sportswear retail value 10.1 sales (US$ per capita) Upside Upside 34.4 3.9 24.3 2.7 21.6 1.7 1.3 0.9 4.6 3.4 3.3 SG CH MY TH PH ID VN SG MY CH TH PH ID VN Source: Euromonitor Report 11
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