PT Avia Avian Tbk (AVIA) Q2 2024 earnings summary

Executive summary

• Q2 2024 revenue reached $106 million (IDR 1.7 trillion), with a gross margin of 43.3%, EBITDA margin of 26.1%, and net profit margin of 21.1%.

• First half consolidated sales grew 3.2% year-over-year to IDR 3.62 trillion, with profit for the period at IDR 808 billion, nearly flat year-over-year.

• Distribution network expanded to 162 centers, supporting over 57,000 retail outlets nationwide.

• Market conditions remain challenging due to inflation, pressure on consumer spending, and increased competition.

• The company remains focused on market share gains, product innovation, and service excellence.

Financial highlights

• Q2 consolidated gross profit was IDR 744 billion (43.3% margin); H1 gross profit rose to IDR 1.63 trillion (45% margin).

• Q2 EBITDA was IDR 447 billion (26.1% margin); H1 EBITDA reached IDR 1 trillion (27.7% margin).

• Q2 net profit was IDR 362 billion (21.1% margin); H1 net profit was IDR 808 billion (22.3% margin).

• Trading goods segment grew 19.9% year-over-year in Q2, reaching IDR 395 billion; H1 trading goods sales up 17.1% to IDR 726 billion.

• Basic and diluted EPS for H1 was Rp13.14, up from Rp13.02 year-over-year.

Outlook and guidance

• FY 2024 sales value growth is guided at 6–10%, with volume growth of 4–8%.

• Management maintains 2024 sales and volume growth guidance, citing strong July paint sales and confidence in market share gains.

• No price increases planned for the second half, focusing on volume growth and selective promotional activities.

• New product launches and distribution expansion are planned for the second half to support growth.