The Jakarta-based sporting goods retailer, wholesaler and manufacturer managed to report a little net profit of 2,078 million Indonesia rupees (€120,000-$140,000) for 2020, down sharply from IDR 686.8 billion in the previous year as its total revenues fell by 36 percent to IDR 4,781 billion (€274m-$329m) because of the Covid-19 pandemic.The gross margin contracted by 4.7 percentage points to 40.0 percent
MAP Active’s total retail sales went down by 38 percent to IDR 4,114 billion (€240m-$280m). Including the mono-brand stores that it operates for some western brands, the number of stores declined by 52 to a total of 1,121 across Indonesia, the Philippines and Vietnam, although the company has been trying to build up a presence outside its home market. The group’s multi-brand stores operate under such banners as Planet Sports Asia, Planet Sports Kids, Sports Station, Kids Station, Golf House and Ogaan. The group’s revenues from its more profitable apparel segment declined by 24 percent to IDR 666.9 billion (€38.1m-$45.9m).
In the course of last year, MAP Active decided to reorganize its operations, putting its various brand teams in charge of all channels including physical stores, online stores and marketplaces, as well as social media portals. As a result, e-commerce improved sequentially by 24 percent between the third and fourth quarter, when e-commerce accounted for almost 10 percent of the total retail turnover.
The gains in the final quarter were driven by performance sports, leisure shoes and kids’ games and toys. The MAP CLUB loyalty program helped maximize connections with frequent shoppers.
The group’s total revenues grew by 44 percent between the two quarters, reaching a level of IDR 1.6 trillion (€91m-$110m) in the fourth quarter and generating net earnings of IDR 118 billion (€6.7m-$8.1m) for the period against a loss a year earlier.