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PT Avia Avian Tbk
   Investor Presentation
      Q3 2025 Results
Page 4
    Disclaimer
All investments are highly speculative in nature and involve substantial risk of loss. We encourage our investors to
invest very carefully. We also encourage investors to get personal advice from their professional investment advisor
and to make independent investigations before acting on the information that we publish. Much of our information is
derived directly from information published by companies or submitted to governmental agencies which we believe
are reliable but are without our independent verification. Therefore, we cannot assure you that the information is
accurate or complete. We do not in any way whatsoever warrant or guarantee the success of any action you take
in reliance on our statements or recommendations.
Past performance is not necessarily indicative of future results. All investments carry significant risk and all investment
decisions of an individual remain the specific responsibility of that individual. There is no guarantee that systems,
indicators, or signals will result in profits or that they will not result in a full loss or losses. All investors are advised to fully
understand all risks associated with any kind of investing they choose to do.
Various statements contained in this presentation, including those that express a belief, expectation, or intention, as
well as those that are not statements of historical fact, are forward-looking statements. These forward-looking
statements may include projections and estimates concerning the timing and success of strategies, plans, or
intentions. We have based these forward-looking statements on our current expectations and assumptions about
future events. These assumptions include, among others, our projections and expectations regarding market trends
litigation and our ability to create an opportunity with attractive current yields and upside. While we consider these
expectations and assumptions to be somewhat reasonable, they are inherently subject to significant business,
economic, competitive, regulatory, and other risks, contingencies, and uncertainties, most of which are difficult to
predict and many of which are beyond our control and could cause actual results to differ materially from any future
results, performance or achievements expressed or implied by these forward-looking statements. Investors should not
place undue reliance on these forward-looking statements. We undertake no obligation to update any forward-
looking statements to conform to actual results or changes in our expectations unless required by applicable law.



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    Avian Brands team




       Ruslan Tanoko       Robert Tanoko          Kurnia Hadi      Andreas Hadikrisno
       Vice President      Operations &         Finance Director    Head of Investor
          Director      Development Director                           Relations



       ruslan.tanoko       robert.tanoko          kurnia.hadi       investor.relations
     @avianbrands.com    @avianbrands.com      @avianbrands.com    @avianbrands.com




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    Avian Brands Q3 2025 snapshot


              SALES                               GROSS PROFIT                                       EBITDA          NET PROFIT
        IDR 2,043 B                                    IDR 870 B                                    IDR 500 B        IDR 407 B
            ( US$ 125 m )                                ( US$ 53 m )                                ( US$ 31 m )      ( US$ 25 m )
                                                            42.6%                                       24.4%             19.9%




        EMPLOYEES                                  DISTRIBUTION                                    COVERAGE         CUSTOMERS
                                                     CENTERS
                                                                                                   38 Provinces       58,000+
             9,000+                                        182(1)                                    99 Cities      Retail outlets

Convenience translation from IDR based on the average USD/IDR exchange rate in Q3 2025 of 16,330
(1) Includes wholly-owned mini distribution centers



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    Q3 2025 financial performance highlights

          In IDR billion                     2025               2024             Change
                                                                                                        ▪ In Q3, consolidated revenues reached IDR 2
       (except per share data)                                                                            trillion, growing by 14.5% year-on-year.
    Consolidated sales                       2,043              1,784               14.5%               ▪ Avian Brands implemented a price increase of
     Architectural solutions                 1,552              1,352                14.8%                1-2% effective August 1st. This adjustment
                                                                                                          primarily applies to the wall, wood & metal,
     Trading goods                             491                432                13.7%
                                                                                                          and waterproofing segments.
    Gross profit                               870                776               12.2%
                                                                                                        ▪ While the economic environment remained
     Architectural solutions                   780                660                18.2%                soft, Avian Brands demonstrated resilience.
     Trading goods                               90               116               -21.7%              ▪ The company capitalized on the current
    Gross margin                            42.6%              43.5%                 -0.9%                market challenges and achieved double-digit
                                                                                                          growth, leading to market share gains.
     Architectural solutions                50.2%              48.8%                  1.4%
                                                                                                        ▪ We continue to take aggressive measures
     Trading goods                          18.4%              26.7%                 -8.3%
                                                                                                          while maintaining discipline on the
    EBITDA                                     500                427               16.9%                 promotional and marketing spending.
    EBITDA margin                           24.4%              24.0%                  0.5%
    Net profit                                407                352                15.5%
    Net profit margin                       19.9%              19.7%                 0.2%
    EPS                                      6.8(1)             5.8(1)              17.0%
(1) Calculated based on the weighted average number of shares after taking into account the treasury shares




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    Distribution center expansion

                                                                                             Distribution centers by
                                                                                             regions:
                                                                                             Java: 74
                                                                                             ▪ Greater Jakarta: 15
                                                                                             ▪ West Java: 15
                                                                                             ▪ Central Java: 19
                                                                                             ▪ East Java: 25
                                                                                             Other regions: 108
                                                                                             ▪ Sumatra: 39
                                                                                             ▪ Kalimantan: 20
                                                                                             ▪ Sulawesi: 23
                                                                                             ▪ Rest of Indonesia: 26
▪ In Q3, Avian Brands opened four wholly-owned DCs.                                          Total: 182
▪ Our robust logistical infrastructure enables us to make ~16,000 daily deliveries.
▪ We achieved a 91%(1) fulfilment rate for 1-day delivery services during Q3.

(1) For retail outlets located within a 50 km radius of a wholly-owned distribution center




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    Consolidated business – sales & customers

     Q3 sales by value           9M sales by value            Q3 number of      9M number of
            (IDR billion)               (IDR billion)          customers         customers




                                                                               56,153   58,415
                                                    5,928             53,408
                       2,043      5,405                      50,990
      1,784




       24                   25     24                   25    24       25       24        25



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    Consolidated business – sales

                  9M 2025 sales by segments                                        9M sales by customers            9M sales by distribution
                                                                                                                           networks


      Trading goods
           22%
                                                                                      7.9%              7.7%           10.1%           9.8%




                                                                                      92.1%            92.3%           89.9%          90.2%




                                                                                       24                25              24             25
                                             Architectural solutions(1)                Modern retail outlets              Third-party DCs
                                                       78%                             Traditional retail outlets         Wholly-owned DCs
(1) For investors who require details on the sales breakdown by segments, please
contact our Head of Investor Relations



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 Consolidated business – gross profit

     Q3 gross profit               9M gross profit            ▪ Avian Brands registered a consolidated gross profit
            (IDR billion)                (IDR billion)          of IDR 870 billion in Q3. During the same quarter,
                                                                consolidated gross margin was reported at 42.6%.
                                                              ▪ Over the nine months, consolidated gross profit
            margin in %                 margin in %
                                                                amounted to IDR 2.5 trillion, marking a gross margin
     43.5                   42.6   44.5            42.9
                                                                of 42.9%.
                                                    2,544     ▪ The consolidated gross margin was impacted by a
                                   2,405                        higher sales contribution from the trading goods
                            870                                 segment, which has been increasing since Q2,
     776
                                                                accounting for ~24% of total sales compared to the
                                                                normal ~20%.
                                                              ▪ During the quarter, raw material prices were
                                                                generally stable. Earlier pressures from the USD/IDR
                                                                exchange rate have been mitigated, supported by
                                                                the company’s price adjustments.



     24                     25      24                   25



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 Consolidated business – EBITDA & net profit

       Q3 EBITDA                      9M EBITDA                Q3 net profit              9M net profit
            (IDR billion)                (IDR billion)             (IDR billion)                 (IDR billion)



            margin in %                 margin in %                margin in %                   margin in %
     24.0                   24.4   26.5            25.2       19.7            19.9        21.5                   20.0



                                   1,430            1,496
                            500                                                          1,160              1,188
                                                                                   407
     427                                                      352




     24                     25      24                   25   24                   25     24                     25



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 Architectural solutions – sales

      Q3 sales by value             9M sales by value           Q3 sales by volume(1)        9M sales by volume(1)
              (IDR billion)                (IDR billion)                 (metric ton)                 (metric ton)




                                                       4,611                                                   134,360
                           1,552
                                     4,247                                         46,054     124,409
       1,352                                                      42,552




         24                    25     24                   25       24                  25       24                  25
(1) Excluding instant cement




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 Architectural solutions – customers

      Q3 number of              9M number of
       customers                 customers

     as % of total customers   as % of total customers
      91.5             92.5     91.7             92.5



                                              54,031
                    49,427     51,496
     46,664




                                                         3 September 2025 - Avian Brands’ customer gathering, Tasikmalaya

      24              25        24              25



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 Trading goods – sales & customers

     Q3 sales by value            9M sales by value            Q3 number of              9M number of
            (IDR billion)                (IDR billion)          customers                 customers

                                                              as % of total customers   as % of total customers
                                                               76.8             78.6     83.6             84.9
                                                    1,317
                            491    1,158
                                                                                                       49,608
                                                                             41,981     46,919
      432                                                     39,145




       24                   25      24                   25    24              25        24              25



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 Gross profit by segments

                      Architectural solutions                                           Trading goods


     Q3 gross profit                   9M gross profit            Q3 gross profit                  9M gross profit
            (IDR billion)                    (IDR billion)             (IDR billion)                       (IDR billion)



            margin in %                     margin in %                margin in %                         margin in %
     48.8                   50.2       50.8            50.0       26.7            18.4              21.3                   18.1

                                                        2,306     116                               247                    238
                                       2,158
                            780
     660                                                                               90




     24                     25          24                   25   24                   25           24                     25



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 Well-managed cost structure

 Cost breakdown (as % of sales)
                                             2024      9M 25     ▪ Avian Brands maintained
                                                                   disciplined cost management.
 G & A(1)                                       3.4%      3.5%
                                                                 ▪ This commitment is evident in
 Sales and marketing(1)                        17.6%     17.8%
                                                                   the relatively stable operating
 COGS(1)                                       55.3%     57.1%     expenses.
 Total                                        76.3%      78.4%
 COGS breakdown (as % of sales)
                                             2024      9M 25     ▪ Avian Brands continues to
                                                                   implement production and
 Raw material                                  25.8%     25.9%
                                                                   supply chain optimization
 Direct labour                                  1.0%      0.9%     initiatives to support healthy
                                                                   profitability over the long term.
 Factory overhead                               2.6%      2.9%
                                                                 ▪ BTL marketing expenses are
 WIP and FG                                    17.6%     20.2%     being continuously optimized
 Below-the-line (BTL) expenses                  8.2%      7.2%     to ensure maximum returns.

 Total                                        55.3%      57.1%
(1) Includes depreciation and amortization




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 Robust cash-flow generation & AR management

  Trade working capital                             Capital expenditure                                   Free cash flow                              On-time collection
                (IDR billion)                                   (IDR billion)                                   (IDR billion)



            as % of total sales                             as % of total sales                             as % of total sales
           29.9             31.4                           5.4               6.6                          15.5              10.1
                                                                                                                                                         90.4%                89.6%
          2,232             2,485                         407                   394                      1,158
          1,051             1,123                         129
           507                  603                                             206
                                                                                                                                597
          1,462             1,426
                                                          278
                                                                                188
          -788               -667

           24              9M 25                          24               9M 25                           24               9M 25                           24                H1 25
     AR                    RM inventory                       Expansion capex
     FG inventory          AP                                 Routine capex(1)
(1) Routine capex includes upgrades to manufacturing and IT infrastructure, fleet expansion at distribution centers, and installation of tinting machines at retail outlets




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 Updates on the second share buyback program

      Number of shares                 Value in Rupiah          ▪ Avian Brands launched an additional share
                (million)                   (IDR billion)         buyback program after receiving shareholders'
                                                                  approval through the company’s AGM in April 2025.
                                                                ▪ The maximum authorized number of shares for the
                                                                  program is 1,425 million shares with a maximum
                                                                  allocated fund of IDR 1 trillion.
                            1,425                      1,000    ▪ As of September, the company has successfully
                                                                  acquired ~64% of the maximum number of shares,
                                                                  using ~40% of the total allocated fund.

         913                                                    ▪ Following the successful completion of the previous
                                                                  buyback, this initiative highlights management’s
                                                                  continued confidence in the company’s long-term
                                        398                       growth.




     Realization(1)        Maximum             (1)
                                     Realization      Maximum


(1) As of September 2025




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 Avian Brands’ home painting solutions

▪ In September 2025, Avian Brands officially launched
     a partnership with AZKO, one of the largest modern
     retail outlets in Indonesia.
▪ AZKO has a strong market presence with 252 stores
     nationwide as of June 2025 and is actively
     expanding its footprint.
▪ As part of this collaboration, we have opened two
     in-store booths in Jakarta, where consumers can
     explore complete solutions for their home painting
     requirements.
▪ Currently, we are focused on generating sales
     traction through marketing support and on-site
     engagement, and the future expansion will
     continue to be evaluated.


                                                          Avian Brands’ in-store booth at AZKO Jakarta




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 Guidance for 2025

FY 2025 sales guidance:
▪ Value growth 6 - 10%
▪ Volume growth 4 - 8%
Planned actions in 2025:
▪ Introduce new products and accelerate the
     deployment of tinting machines.
▪ Expand the distribution centers and elevate our
     service quality.
▪ Strengthen our marketing activities and loyalty
     programs for retail outlets and painters.
▪ Optimize internal operations and advance on ESG
     initiatives.
▪ Continue the execution of the second share
     buyback program.
                                                    10 September 2025 - Avian Brands receives Katadata ESG Award for the
                                                    third consecutive year




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