Https About - Bukalapak.com Cms 2021 08 49b29229-Bukalapak-2q2021-Investor-Update-Vff
Https About - Bukalapak.com Cms 2021 08 49b29229-Bukalapak-2q2021-Investor-Update-Vff
Https About - Bukalapak.com Cms 2021 08 49b29229-Bukalapak-2q2021-Investor-Update-Vff
August 2021
Strictly Confidential
March 2020
Disclaimer
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1
Company Overview
Our Mission: To provide a fair economy for all
Our focus is clear. To empower offline and online MSMEs through the use of technology. We aim to create opportunities to level the playing field for all.
Our mission is to help everyone buy and sell goods and services with fair access to capital, technology and infrastructure that is required to trade and
transforming MSMEs through technology. We believe that we can tackle the core challenges that hinders MSMEs from growing and thereby lead to a better
economy for Indonesia. Today, we are proud to support more than 6.5 million online merchants and 7 million offline MSMEs.
Access to credit & other More revenue streams from More access to new customer
Better business process
financial services new product offerings segments
3
Understanding Indonesian MSMEs’ and individuals’ pain points
Source: e-Conomy SEA 2019 report by Google, Temasek and Bain & Financial inclusion MSMEs’ pain points
Company, Frost & Sullivan 4
End users’ pain points
Significant progression from an e-commerce player to an “All-Commerce” platform servicing the core of
Indonesia’s consumer economy
Bukalapak offers MSMEs the opportunity to provide an “All-Commerce” experience. Significant growth opportunity for Bukalapak in offline
traditional retail by growing our existing products with more Mitra
FMCG Fashion
B2B marketplace transaction for Mitra Women and men’s apparel
Physical
Electronics Motorcycle and vehicle
Household appliances, smartphones, accessories
etc. Vehicle spare parts and
accessories
5
Gaming focus: Accelerating growth in this high take rate marketplace category
Organic and inorganic expansion in gaming through synergies from Bukalapak’s acquisition of Five Jack
YoY: 122%
300
250
200
150
● Gaming industry in Indonesia is large and growing with a C2C
100 segment that is still predominantly unorganized
● Bukalapak has acquired 100% of Five Jack Pte Ltd (itemku), one
50 of the leading marketplaces that focuses on digital games
● Itemku has grown rapidly, and is currently profitable
-
● Significant synergy opportunities to cross sell Itemku’s wide
Q2 2020 Q2 2021
range of SKUs to Bukalapak’s user base
6
Driving social benefits to our Mitra partners and our community
Bukalapak has a clear vision aimed at creating a positive impact in Indonesia by empowering small and medium enterprises and the
population beyond Tier 1 cities
End poverty in all its forms Increasing product offering Increasing income and Help the community
everywhere and reach to a wider user base demand to create new jobs get out of poverty
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Q2 2021 Performance update
Sustained 56% YoY Business Growth in TPV
YoY: YoY:
56% 54%
Key Highlights
Overall TPV1 (IDR tn)
57
Q2 2021 TPV increased by
37 +56% YoY and 1H 2021 TPV
29 increased by +54% YoY,
19
driven by continued growth
in Mitra. The annualized run-
Q2 2020 Q2 2021 1H 2020 1H 2021
rate based on 2Q21 is IDR
YoY: YoY:
40% 34% 117tn.
Overall ATV2 (IDR thousands)
195 193
YoY: YoY:
Key Highlights
Mitra TPV1 (IDR tn)
30 237% 227%
24
25
Q2 2021 Mitra TPV increased
20
14
15 by +237% YoY and 1H2021
10 4 7
TPV increased by +227%
5
- YoY.
Q2 2020 Q2 2021 1H 2020 1H 2021
This is driven by an increase
in ATV by +98% YoY in Q2
YoY:
Mitra ATV2 (IDR thousands)
440 400
20 290
321 300
27 145
37 200 145
-
Q2 2020 Q2 2021 Q2 2020 Q2 2021 1H 2020 1H 2021
Marketplace Mitra BPI
35% YoY growth in 1H 2021 Group Revenue Growing Mitra Contribution to Revenue
0%
1H 2020 1H 2021 Q2 2020 Q2 2021 1H 2020 1H 2021
Marketplace Mitra BPI
11
Note: Financial figures are unaudited
2,000
1,800
Key Financial Metrics: Contribution Margin, S&M and G&A costs
1,600
Contribution margin (revenue - cost of sales) 2Q21 up 36%YoY, 1H21 up
1,400 S&M and G&A Costs
30%YoY
1,200 IDR bn IDR2,000
bn 30%
1.5% 1.4% 4.8% 2.8%
1,000 As a % of TPV As a % of TPV 25%
1,500 YoY: -9%
800 YoY: 36%
20%
600 1,000 905 823 15%
292 399
400 554 368 10%
500
200 455 5%
351
- - 0%
Q2 2020 Q2 2021 Q2 2020 Q2 2021
S&M G&A
IDR bn IDR bn
2,000As a % of TPV 1.6% 1.3% As a % of TPV 4.4% 2.7%
+36% YoY increase in Q2 2021 and +30% YoY increase in 1H 2021 Improvement in S&M and G&A costs of 9% YoY in Q2 2021 and 5% YoY in 1H 2021 S&M
Contribution Margin. and G&A costs.
12
Note: Financial figures are unaudited
Improving Margins and Cash Position
(58) (56)
2,728
(136) (407)
YoY:
3% (197)
(591)
(694)
YoY: YoY:
31% 31%
(945)
YoY: 519
27%
Q2 2020 Q2 2021 1H 2020 1H 2021 Q2 2020 Q2 2021 1H 2020 1H 2021 June 2020 June 2021
13
Note: Financial figures are unaudited
Summary Key Highlights
Contribution Margin – S&M Expense IDRbn (58) (56) +3.3% (197) (136) +31.0%
Contribution Margin – S&M as a % of TPV % -0.3% -0.2% +0.1% -0.5% -0.2% +0.3%
Profit Before Tax IDRbn (633) (443) +29.9% (1,026) (769) +25.1%
Dominant e-commerce platform for consumers in beyond Tier 1 region Empowering and digitalizing offline micro retail stores
Successful proven O2O track record with measurable results… … with strong financial performance across its years of operations
266% 96%
Mitra Revenue CAGR
Revenue CAGR from 2018 to LTM June 2021
from 2018 to LTM June 2021
Note: 1. Annualized 2021 based on 2Q21 TPV 4. According to Frost & Sullivan
2. Last Twelve Months Jul20 – Jun21 5. Based on Company’s internal estimates
15
3. Tier 1 region is defined as DKI Jakarta (excluding Kepulauan Seribu), the city of Bandung and the regencies of Bandung
and West Bandung, the city of Semarang and the regency of Semarang and the cities of Surabaya and Medan
Thank You
16