REG - DFI Retail Group Jardine Matheson Hdg - PT DFI RETAIL NUSANTARA TBK FULL YEAR 2024 RESULTS

DFI Retail groupAnnouncement

13/03/2025 11:30

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RNS Number : 5837A  DFI Retail Group Holdings Ltd  13 March 2025

 Announcement
 13 March 2025

 

PT DFI RETAIL NUSANTARA TBK

FULL YEAR 2024 RESULTS

 

 

The following announcement was issued today by the Company's 89.3%-owned
subsidiary, PT DFI Retail Nusantara Tbk.

 

 

For further information, please contact:

 

 DFI Retail Group Management Services Limited
 Diky Risbianto                                (62-21) 8378 8388

 

 

Tangerang Selatan, 13th March 2025

 
PT DFI RETAIL NUSANTARA TBK
FOR THE YEAR ENDED 31st DECEMBER 2024

 

Highlights

·    Net Revenue reached Rp 4,544 billion, up 4% year-on-year

·    Loss from continuing operations narrowed to Rp 146 billion

·    Health and Beauty continued to deliver strong performance

·    Cost-saving measures contributed to narrowing losses at IKEA, despite
ongoing weakness in home furnishings demand

·    Significant reduction in reported loss to Rp 6 billion

 

Results

                                            Audited
                                            2024            2023*           Change
                                            Rp billion      Rp billion      %

 Net Revenue                                4,544           4,387           4
 Gross Profit                               1,917           1,812           6
 Loss from Continuing Operations            (146)           (431)           66
 Reported Loss                              (6)             (132)           96
                                            Rp              Rp              %
 Loss Per Share from Continuing Operations  (35)            (103)           66
 Reported Profit per Share                  (1)             (32)            96

*Restatement of prior year results due to the divestment the Hero Supermarket
segment

 

PRESIDENT DIRECTOR'S STATEMENT

 

Introduction

The Company reported improved financial results for the year of 2024,
primarily driven by strong sales and profit growth of Guardian. IKEA
performance was negatively impacted by weak home furnishings demand. Overall,
the Company delivered a significant reduction in reported loss compared to the
prior year.

 

Company Performance

The Company reported net revenue of Rp 4,544 billion for 2024, representing a
4% increase year-on-year.  Loss from continuing operations was Rp 146
billion, a significant improvement from Rp 431 billion losses in prior year,
supported by profit growth of Guardian and narrowing losses at IKEA. Including
gains from the divestment of the Hero Supermarket segment and the sale of
non-core properties, the Company's total reported loss was Rp 6 billion for
the year,  from Rp 132 billion in 2023.

 

Guardian delivered double-digit like-for-like sales and profit growth, driven
by basket size increase as well as higher foot traffic in premium malls and
tourist locations. Guardian remains committed to enhancing its value
proposition, optimising product range, and expanding omnichannel presence to
improve accessibility for customers.

 

IKEA performance was impacted by continued weakness in home furnishings
demand. Nevertheless, effective cost-saving measures contributed to an
improved operating result compared to last year. IKEA remains focused on
driving sales growth through initiatives such as enhancing store
commerciality, optimising store layout, and refining shopping tools. In
addition, ongoing efforts to improve product availability through increased
local sourcing, supported by a more effective marketing strategy, are
implemented to strengthen local relevancy.

 

Business Update

The Company successfully completed the divestment of its Hero Supermarket
segment to its affiliate, PT Hero Retail Nusantara, in June 2024.
Post-completion, the Company has fully pivoted to the Guardian and IKEA
businesses in Indonesia. To better align with its strategic focus, the Company
has changed its name to PT DFI Retail Nusantara Tbk (previously PT Hero
Supermarket Tbk).

 

Additionally, the Company completed the sale of four non-core properties
during the year,  further strengthening its financial position.

 

Prospects

The Company expects the Health and Beauty business to maintain its positive
momentum, despite ongoing uncertainty regarding the recovery of the Home
Furnishings business. With a sharpened strategic focus, the Company is well
positioned for sustainable growth in the medium to long term.

 

 

Hadrianus Wahyu Trikusumo

President Director

13th March 2025

 

For further information contact:

Hadrianus Wahyu Trikusumo, President Director

PT DFI Retail Nusantara Tbk

Tel: +62-21-8378 8388

E-mail: extcomm@dfiretailgroup.com

 

 

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