PT Aspirasi Hidup Indonesia (ACES) Q4 2024 earnings summary

Executive summary

• Leading Indonesian home improvement and lifestyle retailer with 245 AZKO stores and 75 Toys Kingdom stores across 60+ cities and 29 provinces.

• Achieved double-digit sales and profit growth in FY24, driven by new store openings, rebranding, and omnichannel strategy.

• Launched AZKO as a fresh brand with next-gen experience stores and a major rebranding campaign in early 2025.

• Completed a name change to PT Aspirasi Hidup Indonesia Tbk in June 2024.

• Audit opinion was unqualified, confirming fair presentation of financials.

Financial highlights

• FY24 sales reached IDR 8.6 trillion, up 12.7% year-over-year; net income attributable to shareholders was IDR 892 billion, up 15.8% year-over-year.

• Gross margin stable at 49%; EBIT margin improved to 14%.

• Cash and cash equivalents at IDR 2.2 trillion; cash dividend of IDR 573.5 billion distributed in July 2024.

• Inventory increased 27% YoY to IDR 3.4 trillion, supporting rebranding and seasonal demand.

• Basic EPS increased to Rp51.97 from Rp44.63.

Outlook and guidance

• Plans to accelerate store expansion in Ex-Java regions due to higher growth and margin potential.

• Continued investment in omnichannel and digital platforms to engage younger demographics.

• Ongoing product innovation and thematic campaigns to drive engagement and sales.

• Management remains committed to retail expansion and innovation, with 245 stores in 2024 and plans for continued growth.

• Dividend payout of Rp33.50 per share, totaling Rp573.5 billion, was distributed in July 2024.