REG - DFI Retail Group Jardine Matheson Hdg - PT Hero Supermarket Tbk Full Year 2022 Results

Jardine Matheson HoldingsAnnouncement

17/03/2023 09:30

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RNS Number : 3650T  DFI Retail Group Holdings Ltd  17 March 2023

 Announcement
 17th March 2023

 

 

PT HERO SUPERMARKET TBK

FULL YEAR 2022 RESULTS

 

 

 

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, 17(th) March 2023

 
PT HERO SUPERMARKET TBK
FULL YEAR 2022 RESULTS

 

Highlights

 

·    Double-digit growth in underlying revenue and gross profit from
continuing operations

·    Significant turnaround in reported profit

·    PT Hero remains well-positioned for growth as the economy recovers
following the pandemic

 

Results

 

                                                 Audited Full Year

                                                 2022        2021        Change
                                                 Rp billion  Rp billion  %
 Net Revenue from continuing operations          4,437       3,481       +27%
 Gross Profit from continuing operations         1,855       1,518       +22%
 Loss for the period from continuing operations  (308)       (932)       n.m.
 Reported profit / (loss) for the year           59          (964)       n.m.
                                                 Rp          Rp          %
 Loss per share from continuing operations       (74)        (223)       n.m.
 Reported profit / (loss) per share              14          (230)       n.m.

 

 

PRESIDENT DIRECTOR'S STATEMENT

 

Introduction

 

The Company reported encouraging performance in 2022 as COVID restrictions
were relaxed, especially in the second half.  Guardian saw double-digit
growth in like-for-like sales during the year, while IKEA also reported strong
year-on-year sales growth.

 

Financial Performance

 

The Company's revenue for 2022 was Rp 4,437 billion, 27% higher than the prior
year.  Net profit was Rp 59 billion for the full year, a significant
turnaround from performance in the prior year, supported by profits from the
divestment of certain owned properties.

 

Guardian Health and Beauty reported robust like-for-like sales growth in 2022.
 Encouragingly, stores in premium malls and tourist locations benefitted from
higher customer traffic.  As a result, profitability in 2022 grew
significantly compared with the prior year, further assisted by improved
category mix.  Guardian continues to focus on driving increased accessibility
for customers, strengthening its value proposition and range optimisation
tailored to specific customer demographics.

 

IKEA's sales grew strongly in 2022 as it saw the benefit of new store openings
in the prior year.  Like-for-like sales growth was higher in the second half
than in the first half, with stores benefitting from improved customer traffic
and relaxed government restrictions on operating capacity and trading hours.
In addition, global supply-chain constraints that impacted stock availability
in the first half improved in the third quarter, allowing for an increase in
commercial activity compared to the first half.

 

IKEA continued to deliver on its strategic pillar of accessibility by opening
its first store in East Java, Surabaya, in December 2022, as well as
strengthening the digital ecosystem and omnichannel capabilities through
revitalisation of its App and website, launching the loyalty program IKEA
Family and, during fourth quarter of the year, launching the official IKEA
shop at Tokopedia.

 

Hero Supermarket's sales grew in 2022 relative to the prior year, driven by a
recovery in customer traffic, especially to stores located in shopping malls.
 Hero's range optimisation, with the introduction of more than 2,000 new
items since the start of 2022, has also supported sales performance.  Hero's
profitability also improved in the year.

 

Business Update

 

Following the Company's strategic pivot away from the Giant banner in the
second half of 2021, the Company successfully divested three owned properties
in the second half of the year.  Proceeds from the transactions have
strengthened the Company's financial position to support future
profitability.  The Company has subsequently sold one additional property in
January 2023, which will further strengthen the Company's financial position.

 

People

 

We would like to express our deep gratitude and appreciation to all our team
members for their hard work and dedication in serving our customers.  Without
them, we would not have been able to achieve the results and milestones which
the business delivered this year.

 

Prospects

 

The Company has seen an encouraging improvement in performance as external
trading conditions and consumer behaviours have begun to normalise.  While
performance is expected to continue to improve in 2023, the Company will
continue to monitor the impact of inflationary pressures and changes to
consumer sentiment.  The Company remains committed to investing in its key
businesses and building the foundations for the Company to deliver robust and
sustainable growth over the medium to long term.

 

 

Patrik Lindvall

President Director

17(th) March 2023

 

For further information contact:

Patrik Lindvall, 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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