PT Aspirasi Hidup Indonesia (ACES) Q3 2025 earnings summary

Executive summary

• Leading home improvement and lifestyle retailer in Indonesia with 257 stores and 76 Toys Kingdom outlets across 86 cities and 31 provinces as of September 2025.

• Net sales reached Rp6.33 trillion, a 1.7% increase year-over-year, with gross profit stable at Rp3.03 trillion.

• Net profit for the nine months ended September 30, 2025, was Rp476.7 billion, down 16% year-over-year from Rp567.8 billion in 2024.

• Launched a major rebranding to AZKO, introducing next-gen concept stores and a refreshed customer experience.

• Integrated omnichannel strategy with strong e-commerce presence through Ruparupa, contributing 12% of total sales.

Financial highlights

• 9M25 sales reached IDR 6.3tn, up 1.7% YoY; 3Q25 sales declined 1.4% YoY and 3.2% QoQ.

• Gross margin for 9M25 was 47.9%, with 3Q25 margin improving to 49% from 47% in 2Q25.

• Net income for 9M25 was IDR 481bn, down 16.2% YoY; 3Q25 net income rose 24.4% QoQ to IDR 188bn.

• Basic EPS: Rp28.03, down from Rp33.57 in the prior year period.

• Operating expenses rose to Rp2.59 trillion, up from Rp2.36 trillion, impacting operating margin.

Outlook and guidance

• Continued focus on store expansion, targeting over 25 new stores in 2025, especially in second- and third-tier cities.

• Strategic initiatives to drive growth include product innovation, omnichannel integration, and market penetration in high-growth regions.

• Management continues to focus on retail expansion, with 257 outlets as of September 2025.