Entering the 4th Year, SAP Express is Ready to Go Public
Posted on 2018-12-18 11:03:06
To be broadcast immediately
Entering the 4th Year, SAP Express is Ready to Go Public
Jakarta, 4 September 2018. PT Satria Antaran Prima Tbk (SAP Express) today held an Investor & Media Gathering in conjunction with the Initial Public Offering (IPO) on the Indonesia Stock Exchange. SAP Express offers a maximum of 600,000,000 shares or 60% of the Company's issued and fully paid capital after the IPO. The price range offered through the bookbuilding is IDR 220 - IDR 260 per share. SAP Express has appointed PT RHB Securities Indonesia as Securities Underwriter.
As planned, bookbuilding takes place from 31 August 2018 to 10 September 2018. The Public Offering period is scheduled to take place on 24-26 September 2018 after receipt of the Effective Statement from the Financial Services Authority, so that SAP Express shares are expected to be traded on the Indonesia Stock Exchange (IDX) around the end of September or the beginning of October this year.
In his presentation, Budiyanto Darmastono, President Director of SAP Express said that through this IPO, it is expected that SAP Express can strengthen its capital structure to respond to the business prospects of the courier service industry as a positive impact in the rise retail sales transactions through e-commerce which involving goods shipping activities.
As an illustration of the rapid development of the e-commerce, Budiyanto cited data released by Statista Digital Market Outlook in 2017. The sales of e-commerce in Indonesia in 2018 are estimated to reach more than USD 8.5 billion, increased 49% compared to 2016 which was recorded at USD 5.8 billion. Still from the same source, in 2022, e-commerce sales in Indonesia are estimated to reach more than USD16.4 billion or grow by an average of 18% annually since 2018.
This is proven by the presence of various goods in e-commerce platform in Indonesia, which not event thought by public. Start from clothing, baby equipment, food, automotive accessories and supplies and also medicines. With the developed technology, the SAP Express user interface system that can be used by all e-commerce platforms because it can be integrated directly through the applicaton programming interface (API).
“The shipping service industry is one of the industries that will continue to exist of all the time, as long as there is human life, during that time the role of shipping services will always be needed. Entering the fourth year, we are determined to make the Company a public Company (go public),” added Budiyanto on the sidelines in response to questions from the media crew at the Main Hall of the Indonesia Stock Exchange on Tuesday (4/9/2018).
As one of the fastest-growing shipping services in the country, SAP Express has served a variety of large institutions such as Zilingo, Lazada, Blibli, Bank Mandiri, Bank BCA, Adira Finance, Indofood, Unilever, and other institutions from various industries.
SAP Express offers in and out-of-town shipping services, international shipping & cargo services, warehousing & distribution services, mailing rooms, shipping through land, sea & air transportation, cash on delivery, and dedicated courier. For the last two shipping services, which is cash on delivery and dedicated courier, Budiyanto claims this is the main strength of SAP Express in the map of competition among other shipping service companies. For domestic shipping, SAP Express offers Same Day Service, One Day Service and Regular Service packages
Since its establishment in 2014, SAP Express has established its vision to become one of the best shipping companies that has a sustainable growth by implementing good corporate governance. Through this IPO celebration, SAP Express is expected to improve the quality of governance and performance along with the supervision of the public, IDX and OJK.
SAP Express was founded by Budiyanto Darmastono, a graduate from Gadjah Mada University, Faculty of Economics who has been in the courier and logistics business for 25 years. The combination of a strategy of rapid penetration, network expansion to reach every sub-district in Indonesia and the seriousness of technology investments make SAP Express grow rapidly far above the industry average.
He developed SAP Express by positioning it as a courier Company supported by high technology and full of innovation so that it was able to develop in the competitive competition. Using the 'Sahabat Pengiriman’ tagline, SAP Express aims to become the leading and trusted courier Company like a true friend. In his leadership, Budiyanto Darmastono is assisted by two members of the board of directors and two members of the board of commissioners, each them has a long track record in the field of shipping and logistics and other fields which capable of supporting SAP Express operations. Prior to the Public Offering, 99.5% of the shares were held by Budiyanto Darmastono, and the remainder was owned by Yuwono Darmastoto.
As per 31st March, 2018, SAP Express has opened jobs for more than 2,400 employees, which almost half of them are couriers that placed in almost all sub-districts in Indonesia. During the same period, SAP Express operated 246 shipping fleets consist of blind vans, carry boxes, and MPVs, as well as thousands of motorbikes for the last-mile shipping. In 2017, 2016 and 2015. The growth of the average volume of shipments served by SAP Express is more than 150% annually.
In the first quarter of 2018, SAP Express posted revenue of IDR 48.2 billion, an increase of 54.3% compared to the first quarter of 2017 which is IDR 31.2 billion. Meanwhile, in 2017, 2016 and 2015 SAP Express posted revenues of Rp148.2 billion, Rp.117.4 billion and Rp60.0 billion.
The SAP Express gross profit in the first quarter of 2018 was recorded at IDR 10.8 billion, increased 59.3% compared to the first quarter of 2017 which was recorded at IDR 6.8 billion. In 2017, 2016 and 2015 SAP Express posted gross profit of Rp28.2 billion, Rp.28.2 billion and Rp.7.1 billion. After the IPO, management estimates that there will be improvements in the operations and performance of financial statements that lead to net income in the future.
The value of assets as of 31st March, 2018 was recorded at Rp. 56.3 billion, an increase compared to assets as of 31st December, 2017 which was recorded at Rp. 44.0 billion. Liabilities increased to Rp. 47.3 billion from Rp. 43.4 billion and equity increased to Rp. 8.9 billion from Rp. 553 million. Meanwhile, on 31st March, 2018, the current ratio was recorded at 2.1 times, the gross profit margin was 22.5% and the
comparison of assets with liabilities is 1.2 times
SAP Express at a Glance
SAP Express was founded by Budiyanto Darmastono in 9th September, 2014. From year to year SAP Express continues to experience a significant business growth, to date the number of SAP Express branches has reached more than 70 branches which managed independently. On 3rd October, 2018 SAP Express officially listed its first shares on the Indonesia Stock Exchange with the SAPX stock code. The transformation from a private Company to a public Company is a proof of the Company's commitment to support the logistics and courier industry continuously throughout the ages.