PT Aspirasi Hidup Indonesia (ACES) Q4 2023 earnings summary

Executive summary

• FY23 SSSG reached 8.1%, supported by recovering store traffic and the #BisaKejadian campaign; FY24 priorities include SSSG of at least 7%, sales growth of at least 10%, operational excellence and optimized capital deployment.

• FY2023 net sales were Rp7,611,866,067,268, versus Rp6,762,803,342,146 in 2022; net income was Rp763,876,396,554, versus Rp673,646,864,480.

Financial highlights

• FY2023 gross profit was Rp3,698,088,759,955 and operating profit Rp1,000,296,172,154; profit before tax was Rp953,024,744,277.

• Operating cash flow rose to Rp1,356,429,549,142 from Rp618,838,440,602; year-end cash and cash equivalents were Rp2,312,374,490,140.

• Total assets were Rp7,753,269,368,751 at Dec. 31, 2023, versus Rp7,249,254,612,049 a year earlier; total equity was Rp6,186,397,789,088.

• Reported 2022 employee-benefit results included a Rp93,371,505,000 past-service plan-amendment credit; FY2023 recorded Rp52,174,810,000 in employee-benefit expense.

Outlook and guidance

• FY24 targets: SSSG ≥7% and sales growth ≥10%; plans include 15–20 store additions and CAPEX of Rp200–250bn.