PT Avia Avian Tbk (AVIA) Q4 2024 earnings summary

Executive summary

• FY 2024 consolidated sales reached IDR 7,471B ($471 million), up 6.5% year-over-year, with net profit at IDR 1,664B, a 1.4% increase, and a gross margin of 44.7%.

• Achieved sales guidance in both volume and value despite economic headwinds and consumer spending pressures.

• Expanded customer base to over 58,000 retail outlets and launched 14 new products, including five with Green Label Singapore certification.

• Continued investment in growth initiatives, including new product launches, distribution center expansion, and targeted marketing.

• Gained market share and reinforced industry leadership.

Financial highlights

• Gross profit rose to IDR 3,341B, with a gross margin of 44.7%; Q4 gross margin was 45.3%.

• EBITDA margin was 27.2%, and net profit margin was 22.3%; EPS grew to 27.2.

• Trading goods segment sales grew 16.1%, outpacing architectural solutions at 4.1%.

• Free cash flow was about 15% of total sales, with disciplined cost management and stable raw material prices.

• Cash and cash equivalents at year-end were IDR 2,329B, up 89% from the prior year.

Outlook and guidance

• FY 2025 sales guidance targets value growth of 6–10% and volume growth of 4–8%.

• Plans include new product launches, distribution center expansion, and enhanced marketing and loyalty programs.

• Appointment of a new independent commissioner and proposal for an additional IDR 1T share buyback at the April 2025 AGM.

• Construction of a third factory in Cirebon, West Java, prioritizing water-based paint production, scheduled for February 2025.