PT Sumber Alfaria Trijaya Tbk (AMRT) Q3 2024 earnings summary

Executive summary

• Achieved strong year-over-year growth in revenue, gross profit, and net profit for the nine months ended September 2024, with net revenue reaching Rp88.2 trillion and net income attributable to owners at Rp2.40 trillion.

• Gross profit rose to Rp18.87 trillion, with gross margin improving to 21.4% from 21.1% YoY.

• Continued expansion of store network, with a net addition of 945 stores, reaching 23,255 locations nationwide, including 14,604 company-owned and 5,367 franchise stores.

• Online sales surged, now accounting for 6.6% of total revenue, growing over 45% YoY.

• Maintained focus on operational excellence, sustainability, and employee engagement.

Financial highlights

• Revenue grew 10.2% YoY to IDR 88.2 trillion for 9M24; gross profit up 11.7% YoY to IDR 18.9 trillion.

• Net profit attributable to owners rose 9.5% YoY to IDR 2.4 trillion; EBITDA increased 10.5% YoY to IDR 6.2 trillion.

• Operating income for the nine months was Rp3.11 trillion, up from Rp2.88 trillion YoY.

• Cash flow from operations reached Rp5.69 trillion, up from Rp4.04 trillion YoY.

• Capital expenditures for the period were Rp4.37 trillion.

Outlook and guidance

• Minimarkets remain the primary growth driver in Indonesia’s grocery sector, with continued market share gains.

• Outer Islands and online channels expected to contribute significantly to future growth.

• Management continues to focus on network expansion, digital transformation, and operational efficiency.

• The company is monitoring the impact of new accounting standards effective in 2024 and 2025, with no material impact expected.