Matahari (“the Company”; stock code: “LPPF”) continues to demonstrate its commitment to fulfilling its corporate governance aims and objectives of broader engagement. Matahari is exercising the maximum possible synergy in complying with the provisions of Listing Regulation No. 1-E for fulfilling the obligation of the Annual Public Expose on 2 March 2022, in line with the submission of the Audited Financial Statements for the Year 2021 and the required materials.
Therefore, the Company is participating in the Public Expose LIVE 2022 hosted by the Indonesia Stock Exchange, as an effort to improve literacy and build relationships with the investor community. The Public Expose 2022 will be delivered by the senior local members of Matahari’s management team in Bahasa for greater investor understanding. Matahari considers it is important to provide material and relevant information for shareholders in order to make the right investment decisions. Terry O’Connor, CEO of Matahari said, “Besides improving Indonesian capital market literacy, we believe our participation in this event will increase the local investor base as well as opening wider access and relationships.”
Matahari wants to ensure participants' understanding of its strong performance in the first half of 2022. Amidst Omicron-related curbs, the Company managed to generate an EBITDA of IDR 1.3 Trn in the first half of 2022, equivalent to full year EBITDA in 2021. Matahari’s curated customer-led ranges brought healthy margins, with the first half 2022 gross margin of 36.0%, higher than 34.9% in the corresponding quarter last year. At the same time, the Company started our expansion with its recently opened stores at Plaza Ambarrukmo, Mall Taman Anggrek, and Tangcity Mall, as well as its investment new POS solution and omni-offering.
The first half progress bodes well for the achievement in the second half of the year with guidance currently set at an EBITDA level of Rp 2.1 Trillion. No significant curbs during the third quarter will help sales to grow more than double on the same period in 2021. The Company further accelerated planned store openings with 7 due in the balance of 2022, the next opening being Gowa (South Sulawesi) later this month. These openings will make the total number of stores to be trading nationwide as 148 by the end of 2022. Terry added, ”We will use this latest engagement platform to continue to share our improvements in our merchandising offer to our customers which should drive superior results.”
