DFI Retail Group Holdings Ltd PT Hero Supermarket Tbk First Half 2022 Results (7729X)
31 Agosto 2022 - 4:50AM
UK Regulatory
TIDMDFI TIDMJAR
RNS Number : 7729X
DFI Retail Group Holdings Ltd
31 August 2022
Announcement
31st August 2022
PT HERO SUPERMARKET TBK
FIRST HALF 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, 31(st) August 2022
PT HERO SUPERMARKET TBK
FIRST HALF 2022 RESULTS
Highlights
-- Double-digit underlying revenue growth
-- Significantly reduced reported losses in first half of 2022
-- PT Hero is well-positioned to deliver strong growth as external conditions normalise
Results
(Limited Review)
FIRST HALF
2022 2021 Change
Rp billion Rp billion %
----------------------------------------- ----------- ----------- -------
Net Revenue from continuing operations 2,142 1,783 +20%
Gross Profit from continuing operations 861 730 +18%
Loss for the period from continuing
operations (119) (194) n.m.
Reported loss for the period (114) (551) n.m.
----------------------------------------- ----------- ----------- -------
Rp Rp %
Loss per share from continuing
operations (28) (46) n.m.
Reported loss per share (27) (132) n.m.
----------------------------------------- ----------- ----------- -------
PRESIDENT DIRECTOR'S STATEMENT
Introduction
External trading conditions remained challenging in the first
half of 2022. However, the Group is beginning to experience some
encouraging improvement in performance. IKEA's first half
like-for-like sales growth improved relative to the second half of
2021. In addition, Hero and Guardian reported improvement in
like-for-like sales performance over the first half.
Financial Performance
The Group's reported revenue for the first half of 2022 was Rp
2,142 billion, an increase of 20% relative to the prior comparable
period. The Group reported a net loss of Rp 114 billion for the
first half of 2022, a significant reduction compared to the same
period last year.
Guardian Health and Beauty reported double-digit like-for-like
growth in the first half of 2022, with growth accelerating in the
second quarter relative to the first quarter. Encouragingly, stores
in premium malls and tourist locations benefited from strong growth
in customer traffic. Profitability more than doubled due to strong
sales growth and improved category and margin 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 reported sales grew strongly primarily due to new store
openings in the prior year. IKEA reported improved like-for-like
sales growth in the first half of 2022 relative to the second half
of 2021. However, reported like-for-like sales in the half
continued to be impacted by government-imposed restrictions on
operating capacity and trading hours in the first quarter, whilst
global supply-chain constraints impacted stock availability. These
factors impacted divisional profitability, partially offset by
stringent cost control.
Hero Supermarket's like-for-like sales growth continued to
improve throughout the half, driven by recovery in mall traffic.
Underlying profitability also improved in the half due to robust
cost control. Hero's range optimisation, with the introduction of
more than 2,000 new items since the start of 2022, has supported
improved sales performance.
Business Update
In April, IKEA opened its first city store inside a shopping
mall at Mall Taman Anggrek, offering greater accessibility for
customers living in the centre of Jakarta and its surrounding
areas. IKEA continues to invest in capabilities and new stores in
Indonesia to drive long-term sustainable growth. IKEA will expand
operations to East Java, with its first store in Surabaya expected
to open by the end of 2022, reaching an estimated three million
people in the metropolitan area.
Following its strategic pivot away from the Giant banner in the
second half of 2021, the Group remains in active discussions for
the potential divestment of owned properties with a number of third
parties.
Prospects
The duration of the COVID-19 pandemic and the extent of its
impact on PT Hero remain uncertain. However, the Group remains
optimistic that its financial performance will continue to improve
throughout the second half of the year with government-imposed
restrictions easing and consumer behaviour beginning to normalise.
PT Hero remains steadfast in investing in its key businesses and
building the foundations to position the Group to deliver strong
and sustainable growth over the long term.
Patrik Lindvall
President Director
31(st) August 2022
For further information contact:
Patrik Lindvall, President Director
PT Hero Supermarket Tbk
Tel: +62-21-8378 8388
E-mail: extcomm@hero.co.id
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