DFI Retail Group Holdings Ltd PT Hero Supermarket Tbk Full Year 2022 Results (3650T)
March 17 2023 - 5:28AM
UK Regulatory
TIDMDFI TIDMJAR
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
- end -
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