CSAP Prepares Rp 600 Billion Capex for Expansion in 2022

JAKARTADAILY.ID – PT Catur Sentosa Adiprana Tbk (IDX: “CSAP”) has budgeted a capital expenditure Rp 600 billion to be allocated for the development of the modern retail segment by 80 percent and the distribution segment by 20 percent.

Management's decision to aggressively expand in the retail segment and encourage growth in the distribution segment has a positive impact on the Company's performance.

In CSAP public expose held on Wednesday, June 22, 2022, the management said that until Q1 2022, consolidated revenue grew 12 percent from Rp 3.51 trillion in the first quarter of 2021 to Rp 3.93 trillion in the first three months of 2022.

Corporate Secretary of PT Catur Sentosa Adiprana Tbk Idrus H. Widjajakusuma said that the aggressive expansion strategy and increasing house and local brands were able to support the growth of the retail segment in Q1 2022 by 16 percent.

"This segment is a growth engine for the Company because it is able to consistently grow double digits and has a larger margin than the distribution segment," Idrus said in CSAP press release, in Jakarta, Wednesday, June 22, 2022.

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Idrus explained that currently, the retail segment contributes 37 percent of consolidated revenue, while the distribution segment as the Company's revenue backbone contributes 63 percent.

The contribution of the modern retail segment has gradually increased from around 20 percent in 2009 to now reaching 37 percent.

The solid revenue performance has made the Company's bottom line also record positive achievements.

Net profit attributable to controlling shareholders grew by 25 percent to Rp 79 billion compared to the same position in 2021, which was Rp 63 billion.

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This increase is equivalent to net margin growth from 1.81 percent to 2.02 percent in 2022.

In this public presentation, the Company also announced the decision to distribute dividends of Rp 40.12 billion, or 18.21 percent of the Company's net profit for the 2021 financial year.

Shareholders whose names are registered in the DPS on July 4, 2022, will receive a cash dividend of Rp 9 per share which will be distributed on July 22, 2022.