REG - DFI Retail Group Jardine Matheson Hdg - PT Hero Supermarket Tbk Nine Months 2024 Results

DFI Retail groupAnnouncement

31/10/2024 09:30

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RNS Number : 4113K  DFI Retail Group Holdings Ltd  31 October 2024

 Announcement
 31 October 2024

 

 

PT HERO SUPERMARKET TBK

NINE MONTHS RESULTS ENDED 30TH SEPTEMBER 2024

 

 

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

 

 

 

For further information, please contact:

 

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

 

 

South Tangerang, 31(st) October 2024

 
PT HERO SUPERMARKET TBK
NINE MONTHS RESULTS ENDED 30th SEPTEMBER 2024

 

Highlights

·    Net Revenue reached Rp 3,380 billion, up 3% year-on-year

·    Profit from continuing operations Rp 24 billion

·    Health and Beauty continued to deliver strong results

·    IKEA's performance impacted by weak demand in home furnishings

·    Reported profit was Rp 184 billion, driven by improved profit
performance across businesses and gains from divestments

 

Results

                                                     Unaudited

                                                     NINE MONTHS
                                                     2024             2023*            Change
                                                     Rp billion       Rp billion       %
 Net Revenue                                         3,380            3,292            3
 Gross Profit                                        1,431            1,366            5
 Profit/(loss) from continuing operations            24               (261)            n.m.
 Reported profit                                     184              19               >100
                                                     Rp               Rp               %
 Profit/(loss) per share from continuing operations  6                (62)             n.m.

 Reported profit per share                           44               5                >100

*Restatement of prior year results due to sale of Hero Supermarket segment

 

PRESIDENT DIRECTOR'S STATEMENT

 

Introduction

The Company delivered improved financial results for the first nine months of
2024, largely driven by strong sales and profit growth of Guardian Health and
Beauty.  IKEA's performance over the period was impacted by weak furniture
demand.  Nevertheless, its losses narrowed from the same period of last year
due to effective cost control measures.

 

Company Performance

The Company reported net revenue of Rp 3,380 billion for the first nine
months, a 3% increase compared to the same period in 2023.  Profit from
continuing operations reached Rp 24 billion, representing a significant
turnaround from the Rp 261 billion loss recorded in the prior comparable
period, supported by profit growth in Guardian Health and Beauty as well as
reduced losses in IKEA.  Including gains from divestment of the Hero
Supermarket operations and the sale of non-core properties, total reported
profit for the period was Rp 184 billion, up from Rp 19 billion in the prior
period.

 

Guardian Health and Beauty delivered double-digit growth in like-for-like
sales and strong profit increases over the period, benefiting from higher foot
traffic in premium malls and tourist locations.  Guardian remains committed
to enhancing its value proposition through product range optimisation and
expanding omnichannel presence for improved customer accessibility.

 

IKEA's sales declined for the first nine months of 2024 as a result of reduced
foot traffic in offline stores.  Implementation of effective cost-saving
measures led to narrowing losses compared to the same period last year.  IKEA
remains focused on driving sales through initiatives such as improving store
commerciality, optimising store layout, and refining shopping tools.  Ongoing
efforts to improve product availability include reviewing the import model,
increasing local sourcing, and making supply chain adjustments, supported by a
more effective marketing strategy to drive local relevance.

 

Business Update

The Company completed the divestment of its Hero Supermarket segment to its
affiliate, PT Hero Retail Nusantara, at the end of June 2024.  Following this
transaction, the Company's operations fully pivot to the Guardian and IKEA
businesses in Indonesia.

 

During the first nine months, the Company also completed the sale of three
non-core properties, further strengthening its financial position.

 

Prospects

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

 

Hadrianus Wahyu Trikusumo

President Director

31st October 2024

 

For further information contact:

Hadrianus Wahyu Trikusumo, President Director

PT Hero Supermarket Tbk

Tel: +62-21-8378 8388

E-mail: extcomm@hero.co.id (mailto:extcomm@hero.co.id)

 

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