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Page 1
MR.D.I.Y.
INDONESIA
Annual Public Expose 2025:
Company’s Performance
FY2024
25 March 2025
Page 2
Disclaimer and Cautionary Statements
Forward-Looking Statements
This document may contain forward-looking information or forward-looking statements including, but not limited to discussions of strategy, future plans and indicative financial
performance (collectively, “forward-looking information”). All information contained in this document that is not clearly historical in nature or that necessarily depends on future or
subsequent events is forward-looking information prepared as of the date of this document is based upon the opinions and estimates of management as well as the information
available to management as of the date of this document. In some cases, forward-looking information can be identified by the use of forward-looking terminology such as "expect",
"will", "should", "intend", "anticipate", "potential", "proposed", "estimate" and other similar words, expressions and phrases, including negative and grammatical variations thereof, or
statements that certain events or conditions "may,” or "will" happen, or by discussion of strategy.
Forward-looking information is based on a variety of current internal expectations, estimates, projections, assumptions, and beliefs that, while deemed reasonable by management,
are subject to significant business, economic, competitive landscape, and other uncertainties and contingencies. This information does not serve as a guarantee of future
performance which involves both known and unknown risks, uncertainties, conditions and other factors (including the risk factors outlined in the Company’s IPO Prospectus
pertaining the Company’s consolidated financial statements and Management’s Discussion & Analysis), which could result in actual outcomes, performance, or achievements
differing materially from those expressed or implied by the forward-looking information. Any estimates, business or investment strategies, or views expressed in this Annual Report
are based on current market conditions and/or data provided by unaffiliated third-party sources, and may change without prior notice. If any information in this Annual Report was
obtained from third-party sources, the Company has not independently verified it, and there is a risk that the assumptions and conclusions drawn based on such information may not
be accurate or complete. Unless required by law, the Company is under no obligation to update or revise any forward-looking information due to new information, events, or
otherwise. Readers are advised not to place undue reliance on this forward-looking information, which should not be seen as the sole basis for making any investment decisions.
Non-IFAS Measures
The Company uses the following non-Indonesian Financial Accounting Standards (IFAS) financial measure such as EBITDA. This certain non-IFAS financial measure has certain
limitations in that they do not include the impact of certain expenses that are reflected in Company’s consolidated financial statements that are necessary to operate the Company’s
business. Non-IFAS measurements are not intended to replace the presentation of The Company’s financial results in accordance with IFAS. Thus, this non-IFAS financial measures
should be considered in addition to, not as substitutes for, or in isolation from, measures prepared in accordance with IFAS
Consolidated Financial Information
The Company furnished the result for the year ended December 31, 2024 and 2023. The information for the year ended December 31, 2024 is extracted from the consolidated
financial statements of the Company as of and for the year ended December 31, 2024 (with consolidated financial information as of and for the year ended December 31, 2023 as
comparative) that has been audited by the Public Accountant in accordance with the auditing standards established by Indonesian Financial Accounting Standards with an
unmodified opinion dated March 24, 2025.
In addition, the Company has furnished certain of the pro forma consolidated financial information as if PT Mitra Indoguna Yasa (“MIY”) and its subsidiaries had been consolidated as
of January 1, 2023. The pro forma financial information has been prepared based on the Company’s historical financial information. The pro forma financial information is (i) not
intended to be a complete presentation of the Company’s financial performance or results of operations had the transactions been concluded as of and for the periods indicated; (ii)
is presented based on currently available information and estimates and assumptions that the Company’s management believes are reasonable as of the issuance date of this
document; (iii) is intended for informational purposes only; and (iv) does not reflect all decisions that are undertaken by the Company after the consolidation. Furthermore, the pro
forma financial information is provided for illustrative and informational purposes only and is not necessarily indicative of the Company’s future results of operations or financial
condition as a publicly traded company. This pro forma financial information has been reviewed in limitation for internal purpose by a third-party.
Operating Metrics
Same Store Sales Growth or SSSG, a metric used to measure the revenue growth of stores that have been in operation for at least 24 months.The SSSG of the stores for a period
(e.g. 6 or 12 months) is calculated by dividing (a) the revenue generated by the stores during that period after deducting the revenue generated by those same stores during the
corresponding period of the same duration in the immediately preceding year, by (b) the revenue generated by those same stores during the period of the same duration in the
immediately preceding year. SSSG for a six-month period can therefore only be calculated for the stores which have been in operation at a minimum of 24 months from July 1 in the
two prior years and remained operating throughout the six months for the relevant period and SSSG for a 12-month period can therefore only be calculated for the stores which have
been in operation for a minimum of 24 months from January 1 in the prior two years and remained operating throughout the relevant year
Page 2 | Strictly Private & Confidential
Page 3
1. Business Highlights
2. Financial Results
3. Management Discussion
Page 3 | Strictly Private & Confidential
Page 4
FY2024 at a Glance
Net profit after tax
Revenue GP Margin PAT Margin
(“PAT”)
IDR 6,789.6 bn 55.0% IDR 1,078.3 bn 15.9%
( 73.9% YoY) ( 13.0 p.p. YoY) ( 6.9 p.p. YoY)
( 205.6% YoY)
Cash generated from 961
operations Gearing ratio Stores Return on Equity
IDR 1,289.7 bn 0.5x 270 34.9%
( 62.1% YoY) new stores
Page 4 | Strictly Private & Confidential
Page 5
Store Network as per 31 December 2024
Total stores in
Indonesia 961
Kalimantan
Sulawesi Maluku
Total stores: 93
Addition: 26 Total stores: 112 Total stores: 23
Addition: 36 Addition: 9
Papua
Total stores: 34
Addition: 13
Sumatera
Total stores: 249
Addition: 49
Greater Jakarta
Total stores: 145
Addition: 57 Java
Total stores: 243
Addition: 64
Lesser Sunda
Total stores: 62
Total FY2024 Addition: 270 stores Addition: 16
Store count as per 31 December 2024
Page 5 | Strictly Private & Confidential
Page 6
Expanding National Presence to be #1 Home Improvement
Brand
Total New Stores Opened
in 2023 222 Total New Stores Opened
in 2024 270
( +22% vs 2023)
Monthly Store
Openings
+22 / month 1.00 0
900
+19 / month
800
700
+14 / month
600
500
+9 / month 961 No of Stores
400
Operating
698 300
478
324
200
100
-
2021 2022 2023 2024
# of Island # of Provinces # of Cities
7/7 37 / 38 389 / 514
100% coverage across c.97% coverage across c.75% coverage across
main island provinces cities
Note: Figures as of FY21-23 is based on proforma consolidated basis
Page 6 | Strictly Private & Confidential
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Consistent Growth Year-on-Year
• Robust revenue growth with CAGR (FY21-FY24) of 97%
6.790 • Strong topline growth driven by rapid store expansion
Revenue
IDR’bn
3.905
2.216
894
2021 2022 2023 2024
• Strong profit growth with CAGR (FY22-FY24) of 191%
• Growth driven by effective cost management,
1.078 supported by higher store profit combined with lower
Profit after Tax
warehouse and HQ OPEX
IDR’bn
353
(80) 128
2021 2022 2023 2024
Page 7 | Strictly Private & Confidential
Page 8
1. Business Highlights
2. Financial Results
3. Management Discussion
Page 8 | Strictly Private & Confidential
Page 9
Key Financial Metrics
Revenue Gross Profit and Margins EBITDA and Margins PAT and Margins
IDR’bn IDR’bn, % IDR’bn, % IDR’bn, %
55,0%
32,0%
42,0% 15,9%
20,4%
9,0%
6.789,6
3.737,5 2.175,9
1.078,3
3.904,6
1.641,0 798,1 352,8
FY2023 FY2024 FY2023 FY2024 FY2023 FY2024 FY2023 FY2024
FY2024 vs FY2023
• Revenue increased by 73.9%, driven by an expanded store network (including the consolidation of MIY), and marketing activities to
boost foot traffic
• GP margin increased by 13.0 p.p. to 55.0%, driven by increasing economies of scale and optimization of the product assortment mix
• EBITDA and reported PAT margins were 32.0% and 15.9% respectively
Page 9 | Strictly Private & Confidential
Page 10
Overview of Key Cost Items for FY2024
Changes to PAT Margin Breakdown of G&A expenses
IDR’bn, % % of
revenue
IDR 2,154.7bn
9.0% 13.0 p.p. -4.3p.p. 0.4 p.p. -0.4 p.p. -1.8 p.p. 15.9%
(31.7%)
IDR 1,071.7bn
PAT: 15.9 %; Δ Margin: 6.9 p.p. (27.4%) 4,7%
2,096.5
2096,5430
5,0%
7,4%
2,6% 5,2%
4,4% 4,4%
(1082,9100) (60,7180) (2,2400)
(1,082.9) (60.7) (2.2) 1,078.3
1078,2740 3,2%
(225,2270)
(225.2)
12,4%
9,7%
352,8260
352.8
+127.8% +101.0% +52.6% -6.9% +168.7%
YoY YoY YoY YoY YoY FY2023 FY2024
Employee benefits Depreciation of ROU assets
FY2023 Gross G&A Expense Finance cost Other income Tax FY2024
Depreciation of PPE Rent & Utilities
PAT profit (net) (net) PAT
Others
FY2024 vs FY2023:
• PAT margin was 6.9 p.p. higher mainly attributed to higher revenue and GP margin
• G&A expenses rose 4.3 p.p. mainly from consolidation of MIY, higher staff cost to enhance service level and span of control, as well as
organizational structure enhancements to become a public company
Page 10 | Strictly Private & Confidential
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Statement of Profit or Loss IDR’bn FY2024 FY2023 % change* Revenue 6,789.6 3,904.6 73.9 Cost of sales (3,052.0) (2,263.6) 34.8 Gross profit 3,737.5 1,641.0 127.8 General and administrative expenses (2,154.7) (1,071.7) 101.0 Profit from operations 1,582.9 569.3 178.1 Finance income 5.5 6.8 (18.8) Finance costs (181.6) (122.1) 48.7 Other Income - Net 30.2 32.4 (6.9) Profit before tax 1,437.0 486.3 195.5 Income Tax expense - Net (358.7) (133.5) 168.7 Profit for the period 1,078.3 352.8 205.6 Other selected financial data: Gross profit margin (%) 55.0 42.0 13.0 p.p. EBITDA (IDR’bn) 2,175.9 798.1 172.6 EBITDA margin (%) 32.0 20.4 11.6 p.p. Net profit margin (%) 15.9 9.0 6.9 p.p. *Note: Variance in %change is due to rounding Page 11 | Strictly Private & Confidential
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Statement of Financial Position
• Increase in right-of-use assets and property,
Audited Audited % plant, and equipment (PPE) reflects the
change* expansion of our total store network, with
IDR’bn 31.12.2024 31.12.2023
90.7% of PPE being store-related
Non-Current Assets • This growth is driven by the consolidation of
Property and equipments 1,478.1 933.7 58.3
58.3 MIY and the addition of 270 new stores in
Rights-of-use assets 1,207.0 559.8 115.6
115.6 FY2024
Other Assets 402.1 551.0 (27.0)
• Total inventory as of FY2024 increased
Current Assets following consolidation of MIY and inventory
Inventories 1,894.9 929.6 103.8
103.8 preparation for CNY and Eid al-Fitr in 1Q2025
Trade & other receivables 0.6 21.1 (97.1)
Cash and bank balance 672.7 291.4 130.9
130.9
Other Assets 679.8 358.6 89.6
Total Assets 6,335.3 3,645.2 73.8
Non-Current Liabilities
Lease liabilities 310.3 153.1 102.7
1.165,8
Borrowings 764.5 1,250.1 (38.8)
(38.8) 849,0
Others liabilities 27.9 17.1 63.1
31.12.2023 31.12.2024
Current Liabilities Net Debt
Lease Liabilities 355.9 163.9 117.2
Trade & other payables 202.9 141.8 43.1 • Good liquidity position arising from strong
operating cash flow, which allows us to invest
Borrowings 757.3 207.1 265.6
265.6
for growth
Others current liabilities 829.8 851.7 (2.6)
Total Liabilities 3,248.6 2,784.7 16.7
Total Equity 3,086.7 860.5 258.7
258.7 • Total shareholders’ equity increased by 258.7%
to IDR3,084.6 bn as at 31 Dec 2024
Total Liabilities & Equity 6,335.3 3,645.2 73.8
*Note: Variance in %change is due to rounding;
Page 12 | Strictly Private & Confidential
Page 13
Key Financial Ratios and Other Metrics
Cash conversion cycle
(Days)
Cash conversion
cycle days is 164 166
higher mainly due
to higher 114
101
inventory
turnover days
2021 2022 2023 2024
Inventory turnover Trade payable turnover
(Days)
(Days)
Higher inventory Trade
days following payable
167 169 turnover
consolidation of
MIY remained
117
104 consistent
3 2 3 3
2021 2022 2023 2024 2021 2022 2023 2024
Page 13 | Strictly Private & Confidential
Page 14
Key Financial Ratios and Other Metrics
Gearing ratio Return on equity 1
(Times) (%)
2.6x 41.0%
Reflects Lower ROE 34.9%
2.3x
balanced following 21.6%
financial 1.7x additional
leverage capital
supported by a injected
strong cash during the
position 0.5x year -17.3%
2021 2022 2023 2024 2021 2022 2023 2024
Net debt to EBITDA 2 Debt service coverage ratio 2
(Times) (Times)
Reflects strong debt Company has sufficient
repayment capacity cash flow to cover debt
obligations
1.5x 3.6
2.6
N.A. N.A.
No bank loan as per 0.4x No bank loan as per
period period
2021 2022 2023 2024 2021 2022 2023 2024
Note:
(1)Total equity as at year end/period
(2) Bank loan covenant, calculation excludes lease + interest expense and subordinated SH loan
Page 14 | Strictly Private & Confidential
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Cash Flow Statement
IDR'bn 31.12.2024 31.12.2023 Net Interest Expense (IDR'bn)
Cash generated from operations 1,289.7 795.5
Net Interest 120,9
Payment of finance costs (522.4) (32.8)
(32.8) Expense Shareholders’
Net cash from operating activities 767.3
767.3 762.8
762.8 loan interest
payable of IDR
Acquisition of property and equipments (706.7) (606.2) SH Loan 401.5bn paid in
401,5
Interest May-24, as part
Acquisition of subsidiary with cash (360.5) - Payable
Payment of capital
Receipt from disposal of property and equipments 0.4 21.5 restructuring
Net cash used in investing activities (1,066.8) (584.6) 31.12.2024
Receipt of bank loan 1,314.7 207.1
Payment of shareholders loan (1,250.1) (88.6)
Net operating cash flow IDR 767.3 bn
Receipt from issuance capital 910.7
910.7 2.2
2.2 as at 31 Dec 2024 ( 0.6%)
Receipt of related parties transaction 394.4 177.3
Payment of related parties transaction (37.2) (22.8) Receipt from issuance capital (IDR’bn)
Proceed for dividends - (83.9)
Payment for leases (651.6) (209.6)
410,7
Net cash used in financing activities 680.9 (18.3) Proceed
from IPO
Net (decrease)/increase in cash & equivalents 381.3 159.9 Dec-24
Cash & cash equivalents b/f 291.4 131.6 Capital
Injection 500,0
Cash & cash equivalents c/f 672.7
672.7 291.4
291.4 Jun-24
31.12.2024
Page 15 | Strictly Private & Confidential
Page 16
New Stores, Higher Transaction Volumes Drove Total
Revenue Growth (Proforma)
Revenue performance (IDR’bn) SSSG performance
IDR’bn
SSSG to stabilize going
forward
43%
30%
3%
5%
2021 2022 2023 2024
6.789,6
Breakdown by product category
4.864,3 % of revenue
18% 20%
39% 38%
8%
FY2023 9% FY2024
FY2023 FY2024
10%
10%
Revenue growth primarily driven by: 10%
14% 11% 13%
1. Expanded store network
2. Higher transaction volumes which grew 37.6% to
88.7 million in FY2024 Household & furnishing Stationery & Sports Jewellery & Cosmetics
Toys Hardware Others
Note: Figures as of FY21-23 is based on proforma consolidated basis
Page 16 | Strictly Private & Confidential
Page 17
Key Financial Metrics (Proforma)
Gross Profit and Margins EBITDA and Margins PAT and Margins
IDR’bn, % IDR’bn, % IDR’bn, %
55,0% 32,0%
15,9%
53,0% 28,0%
13,6%
3.737,5 2.175,9
1.078,3
2.578,7
1.362,1 661,9
FY2023 FY2024 FY2023 FY2024 FY2023 FY2024
FY2024 vs FY2023
• GP margin increased by 2.0 p.p. to 55.0% driven by increasing economies of scale and optimization of the product assortment mix
• EBITDA and reported PAT margins were 32.0% and 15.9% respectively
Note: Figures as of FY21-23 is based on proforma consolidated basis
Page 17 | Strictly Private & Confidential
Page 18
1. Business Highlights
2. Financial Results
3. Management Discussion
Page 18 | Strictly Private & Confidential
Page 19
FY2025 Outlook: Ensuring Continuous Store Growth
Total New Stores Opened
in 2024 270 Targeted New Stores
for 2025 >270
+263*
> 270
+220*
+154*
961 961
698
478
324
2021 2022 2023 2024 2025
Number of Stores
Note:
*Net of new store openings and closures
Figures as of FY21-23 is based on proforma consolidated basis
Page 19 | Strictly Private & Confidential
Page 20
Appendix Page 20 | Strictly Private & Confidential
Page 21
Reconciliation of Statement of Profit or Loss
Consolidating MIY into Proforma
Audited Proforma
IDR’bn Adjustment
FY2023 FY2023
Revenue 3,904.6 959.7 4,864.3
Cost of sales (2,263.6) (22.0) (2,285.6)
Gross profit 1,641.0 937.7 2,578.7
General and administrative expenses (1,071.7) (460.8) (1,532.6)
Profit from operations 569.3 476.9 1,046.2
Finance income 6.8 (3.4) 3.4
Finance costs (122.1) (18.6) (140.7)
Other Income - Net 32.4 (78.6) (46.1)
Profit before tax 486.3 376.4 862.7
Income Tax expense - Net (133.5) (67.4) (200.9)
Profit for the period 352.8 309.0 661.9
Other selected financial data:
Gross profit margin (%) 42.0 53.0
EBITDA (IDR’bn) 798.1 564.0 1,362.1
EBITDA margin (%) 20.4 28.0
Net profit margin (%) 9.0 13.6
*Note: On 31 May 2024, the Company acquired 50,985 shares of PT Mitra Indoguna Yasa (“MIY”), representing 99.00% ownership interests
Page 21 | Strictly Private & Confidential
Names mentioned 1 people and organisations named in the text · linked when the evidence is strong
unresolved
org
PT Mitra Indoguna Yasa
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