PT Map Aktif Adiperkasa Tbk (MAA, Map Active), the Jakarta, Indonesia-based sports, kids and leisure subsidiary of PT Mitra Adiperkasa Tbk (MAP), is reporting that net revenue for full-year 2025 grew 12.2 percent year-over-year (y/y) to IDR 19,280 billion ($1.17 billion), compared to IDR 17,184 billion in 2024. The consensus estimate was IDR 19,412 billion for the year.

Retail sales increased 18 percent y/y to IDR 18,289 million ($1.11 bn) in 2025.

Map Active reports in the Indonesian rupiah (IDR) currency. All conversions to the U.S. dollar ($) currency are calculated at the average conversion rate for that respective period.

“We are pleased to see that MAA delivered sustained growth and solid profitability in 2025. Our brands remain a core strength and continue to draw steady customer demand throughout the year. This reflects our consistent execution across the business amid the ongoing macroeconomic uncertainties,” said Ratih D. Gianda, VP of Investor Relations, Corporate Communications and Sustainability of MAP Group.

Region Sales
Indonesia accounts for a considerable majority of Map Active’s sales, generating 76 percent of revenues in full-year 2025, totaling IDR 14,602 billion. Indonesia delivered 74 percent of sales in 2024.

ASEAN countries, excluding Indonesia, accounted for the 24 percent balance for the year, while still growing 6 percent y/y to IDR 4,679 billion. Of those other countries:

  • The Philippines grew 10 percent y/y to IDR 2,459 billion, or 13 percent of total net revenues.
  • Thailand increased 12 y/y to reach IDR 937 billion, or 5 percent of total net revenues.
  • Singapore fell 20 percent y/y to 3 percent of total net revenue, roughly an even share to 2024.
  • Malaysia rose 4 percent y/y in 2025, maintaining its share at 3 percent of total net revenue.
  • Vietnam grew 14 percent y/y to 1 percent of the total.
  • Cambodia also jumped 14 percent y/y.

Profitability
Gross profit increased to IDR 9,089 billion, or 47.1 percent of net revenue, in 2025, compared to IDR 7,922 billion, or 46.1 percent, in the prior year.

Operating profit grew 17.6 percent to IDR 2,535 billion, or 13.2 percent of net revenue, in 2025, compared to IDR 2,155 billion, or 12.5 percent, in 2024.

EBITDA amounted to IDR 4.0 trillion for the year.

Profit increased 27.2 percent y/y to IDR 1,721 billion in 2025, compared to IDR 1,354 billion in 2024. The consensus estimate for 2025 was IDR 1,502 billion.

Fourth Quarter
For the 2025 fourth quarter, Map Active’s net revenue grew 12.0 percent year-over-year (y/y) to IDR 5,335 billion ($323.8 mm) from IDR 4,765 billion in the prior-year quarter.

  • Gross profit reached IDR 2,576 billion, or 48.3 percent of net revenue, up 20 percent y/y compared to IDR 2,150 billion, or 45.1 percent, in the prior-year Q4 period.
  • Operating profit rose by 45.9 percent to IDR 854 billion, or 16.0 percent of net revenue, in Q4, compared to IDR 586 billion, or 12.3 percent in the prior-year period.
  • EBITDA was IDR 1.3 trillion.
  • Net profit increased 122 percent to IDR 553 billion.

“In the year ahead, we are focused on delivering our long-term goals while staying prudent given the evolving business and geopolitical landscape. As we continue to strengthen operational stability, enhance inventory management, and ensure readiness across our store network, we are better positioned to capture emerging opportunities. We believe our integrated business model will remain a key driver of growth this year and beyond,” Ratih concluded.

PT Map Aktif Adiperkasa Tbk (MAA) is a ‘brand commerce’ entity operating in ASEAN. A subsidiary of PT Mitra Adiperkasa Tbk (MAP), MAA operates more than 40 exclusive brands in more than 2,200 stores and 30 online sites (including MAPCLUB). Its three principal business lines are Sports, Leisure, and Kids, which are sold via mono-brand and multi-brand store formats, including PlanetSports.Asia, Sports Station, Foot Locker, Sports Direct, Golf House, and Kidz Station. In 2018, the company acquired Astec, a leading regional brand in badminton, fitness, and leisure activities.

Image courtesy PT Map Aktif Adiperkasa Tbk