3b 2024_DFIN FY Press Release (Eng) v6.pdf

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PRESIDENT DIRECTOR’S STATEMENT


Introduction
The Company reported improved financial results for the year of 2024, primarily driven by
strong sales and profit growth of Guardian. IKEA performance was negatively impacted by
weak home furnishings demand. Overall, the Company delivered a significant reduction in
reported loss compared to the prior year.


Company Performance
The Company reported net revenue of Rp 4,544 billion for 2024, representing a 4% increase
year-on-year. Loss from continuing operations was Rp 146 billion, a significant improvement
from Rp 431 billion losses in prior year, supported by profit growth of Guardian and narrowing
losses at IKEA. Including gains from the divestment of the Hero Supermarket segment and the
sale of non-core properties, the Company’s total reported loss was Rp 6 billion for the year,
from Rp 132 billion in 2023.


Guardian delivered double-digit like-for-like sales and profit growth, driven by basket size
increase as well as higher foot traffic in premium malls and tourist locations. Guardian remains
committed to enhancing its value proposition, optimising product range, and expanding
omnichannel presence to improve accessibility for customers.


IKEA performance was impacted by continued weakness in home furnishings demand.
Nevertheless, effective cost-saving measures contributed to an improved operating result
compared to last year. IKEA remains focused on driving sales growth through initiatives such
as enhancing store commerciality, optimising store layout, and refining shopping tools. In
addition, ongoing efforts to improve product availability through increased local sourcing,
supported by a more effective marketing strategy, are implemented to strengthen local
relevancy.


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                                      PT DFI Retail Nusantara Tbk
                                      Jl. CBD Bintaro Jaya Sektor VII Blok B7/A7,             T:+6221-83788388
                                      Pondok Jaya, Pondok Aren, Tangerang Selatan 15424        dfinusantara.co.id

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Business Update
The Company successfully completed the divestment of its Hero Supermarket segment to its
affiliate, PT Hero Retail Nusantara, in June 2024. Post-completion, the Company has fully
pivoted to the Guardian and IKEA businesses in Indonesia. To better align with its strategic
focus, the Company has changed its name to PT DFI Retail Nusantara Tbk (previously PT Hero
Supermarket Tbk).


Additionally, the Company completed the sale of four non-core properties during the year,
further strengthening its financial position.


Prospects
The Company expects the Health and Beauty business to maintain its positive momentum,
despite ongoing uncertainty regarding the recovery of the Home Furnishings business. With a
sharpened strategic focus, the Company is well positioned for sustainable growth in the
medium to long term.




Hadrianus Wahyu Trikusumo
President Director
13th March 2025


For further information contact:
Hadrianus Wahyu Trikusumo, President Director
PT DFI Retail Nusantara Tbk
Tel: +62-21-8378 8388
E-mail: extcomm@dfiretailgroup.com




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                                        PT DFI Retail Nusantara Tbk
                                        Jl. CBD Bintaro Jaya Sektor VII Blok B7/A7,         T:+6221-83788388
                                        Pondok Jaya, Pondok Aren, Tangerang Selatan 15424    dfinusantara.co.id