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Announcement
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31st July 2024
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PT HERO SUPERMARKET
TBK
SIX
MONTHS RESULTS ENDED 30TH JUNE 2024
The following announcement was issued today by the
Company's 89.3%-owned subsidiary, PT Hero Supermarket Tbk.
For further information, please contact:
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DFI Retail Group Management Services Limited
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Diky Risbianto
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(62-21) 8378 8388
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South Tangerang, 31st July
2024
PT HERO SUPERMARKET TBK
SIX MONTHS RESULTS ENDED
30th JUNE 2024
Highlights
· Net
Revenue of Rp 2,252 billion, up 4% year-on-year
· Profit
from continuing operations of Rp 8 billion
· Continued
strong growth in Health and Beauty segment
· Weak home
furnishings demand affected IKEA's results
· Reported
profit of Rp 162 billion, supported by gains from
divestments
Results
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Unaudited
SIX MONTHS
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2024
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2023*
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Change
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Rp billion
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Rp billion
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%
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Net Revenue
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2,252
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2,163
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4
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Gross Profit
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931
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913
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2
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Profit/ (loss) from continuing
operations
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8
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(144)
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n.m.
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Reported profit
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162
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132
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23
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Rp
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Rp
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%
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Profit/ (loss) per
share from continuing operations
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2
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(34)
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n.m.
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Reported profit per share
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39
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32
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23
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*Restatement of prior year results due to sale of Hero
Supermarket segment
PRESIDENT
DIRECTOR'S STATEMENT
Introduction
The Company reported improved
financial performance in the first half of 2024. Guardian
Health and Beauty continued to report strong sales and earnings
growth. While IKEA's performance was
impacted by weak home furnishings demand, losses narrowed as a
result of cost control measures.
Company
Performance
The Company reported net revenue of
Rp 2,252 billion in the first
half, an increase of 4% compared to the
same period last year. The Company reported profit from
continuing operations of Rp 8 billion for the period, a significant
improvement relative to Rp 144 billion loss reported in the prior
comparable period. Reported profit for the period was Rp 162
billion, driven by gains from divestment of the Hero Supermarket
operations as well as non-core properties.
Guardian Health and Beauty continued
to deliver strong results in the first half, benefiting from
increased foot traffic in premium malls and tourist locations.
Like-for-like sales increased double-digits and profit grew
substantially compared to the previous year. Guardian
continues strengthening its value proposition by optimising its
product range and expanding its omnichannel presence to enhance
customer accessibility.
IKEA's business remained adversely
affected by weak home furnishings demand. In response to these challenging market conditions,
IKEA continues to implement measures to manage its financial
performance, including space optimisation, cost control initiatives
and inventory management, which has supported improved
profitability.
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. Post-completion, the
Company's operations will fully pivot to the Guardian and IKEA
businesses in Indonesia. A gain on sale of Rp 28 billion was
recorded in the first half as a result of this
transaction.
During the first half, the Company
also completed the sale of three non-core properties, which further
strengthened the Company's financial position.
Prospects
The Company anticipates continued positive momentum
for the Health and Beauty segment, although there remains
uncertainty regarding the recovery of the Home Furnishings
business. Despite these challenges, the Company is well
positioned to deliver sustainable growth in the medium to
long-term.
Hadrianus Wahyu Trikusumo
President Director
31st July 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
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