PT Aspirasi Hidup Indonesia (ACES) Q3 2024 earnings summary

Executive summary

• Achieved strong growth in 9M2024, with net profit reaching Rp574.2 billion, up 18% year-over-year, and revenue growing 13.4% to Rp6.23 trillion, driven by successful strategy execution, retail expansion, and strong home improvement and lifestyle sales.

• Continued store network expansion, with new concept stores launched and renovations underway, and a rebranding to PT Aspirasi Hidup Indonesia Tbk in June 2024.

• Enhanced omni-channel capabilities and digital engagement to improve customer experience.

• Cash dividend of Rp573.5 billion was distributed in July 2024, following robust earnings.

• The group operates 241 retail outlets across 29 provinces, maintaining its position as a leading home and lifestyle retailer in Indonesia.

Financial highlights

• Net sales for 9M2024 were Rp6.23 trillion, up 13% year-over-year; net profit was Rp574.2 billion, up 18% year-over-year.

• 3Q2024 net sales were Rp2.1 trillion (+13% YOY), net profit Rp208 billion (+14% YOY).

• Gross profit margin for 9M2024 was 48.5%; operating margin 12.0%; net profit margin 9.2%.

• Basic earnings per share increased to Rp33.57 from Rp28.40 year-over-year.

• Cash and cash equivalents at period end were Rp1.73 trillion, down from Rp2.31 trillion at year-end 2023, mainly due to dividend payments and capital expenditures.

Outlook and guidance

• 2024 guidance targets SSSG ≥8% and sales growth ≥11%, with plans to add 20 new stores and deploy CAPEX of Rp200-250 billion.

• Management remains focused on expanding retail presence, enhancing product offerings, and investing in digital initiatives.

• The company expects stable demand in home improvement and lifestyle categories, supported by Indonesia's economic growth and urbanization trends.