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20250227_AVIA_Laporan Informasi dan Fakta Material_31865039_lamp1.pdf
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PT Avia Avian Tbk
Investor Presentation
FY 2024 Results
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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. 2
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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 FY 2024 snapshot
SALES GROSS PROFIT EBITDA NET PROFIT
IDR 7,471 B IDR 3,341 B IDR 2,034 B IDR 1,664 B
( US$ 471 m ) ( US$ 211 m ) ( US$ 128 m ) ( US$ 105 m )
44.7% 27.2% 22.3%
EMPLOYEES DISTRIBUTION COVERAGE CUSTOMERS
CENTERS
38 Provinces 58,000+
9,000+ 162 99 Cities Retail outlets
Convenience translation from IDR based on the average USD/IDR exchange rate in FY 2024 of 15,853
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FY 2024 financial performance highlights
In IDR billion 2024 2023 Change ▪ Consolidated sales growth was driven by the
(except per share data) focused execution of our sustainable growth
Consolidated sales 7,471 7,017 6.5% strategy.
Architectural solutions 5,848 5,618 4.1% ▪ The company achieved its 2024 sales
guidance both in volume and value.
Trading goods 1,624 1,399 16.1%
▪ The year 2024 unfolded a challenging
Gross profit 3,341 3,183 4.9%
economic environment where businesses
Architectural solutions 2,995 2,932 2.1% navigated headwinds from persistent
Trading goods 346 251 37.6% pressures on consumer spending.
Gross margin 44.7% 45.4% -0.7% ▪ Avian Brands prioritizes consistent investment
in growth initiatives, including distribution
Architectural solutions 51.2% 52.2% -1.0%
center expansion, product innovation, and
Trading goods 21.3% 18.0% 3.3% targeted marketing.
EBITDA 2,034 1,928 5.5% ▪ The company continues to gain market share
EBITDA margin 27.2% 27.5% -0.2% and strengthen its leading position in the
Net profit 1,664 1,643 1.3% industry.
Net profit margin 22.3% 23.4% -1.1%
EPS 27.2(1) 26.5(1) 2.5%
(1) Calculated based on the weighted average number of shares after taking into account the treasury shares
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New products launched in FY 2024
Key product segments Price range
Premium 5 4 3 2 1 Economic
Sunguard Supersilk Supersilk Supersilk Avitex Avitex Avitex Avitex Aries Aries
All-in-One Sunguard Semi Kilap Anti Noda Supersilk Basic Gold Anti Viruz Exterior Avitex Wizz Gold Bling Aries
Wall
Avian Avian Cling Avian Avian Cling
Platinum 3in1 Avian WB Cling Yoko Zinc Chromate
Wood & metal
No Drop No Drop No Drop Beton No Drop No Drop No Drop No Drop No Drop No Drop No Drop No Drop
Anti Panas Dempul Instan & Batu Alam Plus 3in1 No Drop Kolam Ikan Basic Bitumen Tile Grout Mortar Tape Serat Fiber
Waterproofing
Avian Avian Avian Non- Avian Non- WoodEco Boyo Politur Boyo WoodEco Boyo Boyo
Epoxy Super Epoxy Hemat Sag Super Sag Hemat Woodstain Spray Woodstain Politur Politur Wood Filler
Woodcare & Glue
GML500 GM510 GM270 GM480 GM220 GM380 GM275 GM265 GM385
Instant cement
Admiral Admiral VIP Paint Avian Avian Avian
No Lumut Anti Fouling Marine Coating Remover Cat Lapangan Paving Paint Thinner
Others
▪ 14 products were launched in 2024 across various segments, highlighted in blue labels.
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Distribution center expansion
Distribution centers by
regions:(2)
Java: 71
▪ Greater Jakarta: 13
▪ West Java: 15
▪ Central Java: 19
▪ East Java: 24
Outer Java: 91
▪ Sumatra: 34
▪ Kalimantan: 19
▪ Sulawesi: 19
▪ Rest of Indonesia: 19
▪ During 2024, we opened 6 new wholly-owned DCs and 1 mini DC. Total: 162
▪ Our robust logistical infrastructure enables us to make ~15,000 daily deliveries.
▪ We maintain a 91%(1) fulfilment rate for 1-day delivery services throughout the year.
(1) For retail outlets located within a 50 km radius of a wholly-owned distribution center
(2) Excluding mini distribution centers
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Consolidated business – sales & customers
Q4 sales by value FY sales by value Q4 number of FY number of
(IDR billion) (IDR billion) customers customers
7,471
7,017 56,878 58,600
2,067 51,912
1,853 50,043
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Consolidated business – sales
FY 2024 sales by segments FY sales by customers FY sales by distribution
networks
Trading goods
0.6% 0.5%
22%
7.5% 7.9% 11.2% 9.8%
92.5% 92.1% 88.2% 89.6%
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Architectural solutions(1) Modern retail outlets Others
78% Third-party DCs
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
Q4 gross profit FY gross profit ▪ The consolidated gross margin in 2024 was
(IDR billion) (IDR billion) impacted by a higher sales contribution from the
trading goods segment and an increase in below-
the-line marketing expenses.
margin in % margin in %
▪ Raw material prices were relatively stable
44.5 45.3 45.4 44.7
throughout the year. Some volatility emerged in Q3
and Q4, affected by the USD/IDR exchange rate
936 3,341 fluctuations.
3,183
825 ▪ The company is actively monitoring
macroeconomic conditions and geopolitical
developments that potentially influence raw
material prices.
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Consolidated business – EBITDA & net profit
Q4 EBITDA FY EBITDA Q4 net profit FY net profit
(IDR billion) (IDR billion) (IDR billion) (IDR billion)
margin in % margin in % margin in % margin in %
27.2 29.3 27.5 27.2 24.1 24.4 23.4 22.3
2,034 1,643 1,664
605 1,928 504
503 447
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Architectural solutions – sales
Q4 sales by value FY sales by value Q4 sales by volume(1) FY sales by volume(1)
(IDR billion) (IDR billion) (metric ton) (metric ton)
5,848 172,018
5,618 47,609 163,790
1,601 43,873
1,438
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(1) Excluding instant cement
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Architectural solutions – customers
Q4 number of FY number of
customers customers
as % of total customers as % of total customers
91.3 91.9 90.9 91.8
47,686 51,709 53,779
45,667
Avian Brands’ 2024 customer gatherings
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Trading goods – sales & customers
Q4 sales by value FY sales by value Q4 number of FY number of
(IDR billion) (IDR billion) customers customers
as % of total customers as % of total customers
75.8 75.9 84.3 84.7
1,624
466 47,930 49,653
1,399 39,393
415 37,953
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Gross profit by segments
Architectural solutions Trading goods
Q4 gross profit FY gross profit Q4 gross profit FY gross profit
(IDR billion) (IDR billion) (IDR billion) (IDR billion)
margin in % margin in % margin in % margin in %
52.1 52.3 52.2 51.2 18.4 21.3 18.0 21.3
837 2,932 2,995 346
99
749
76 251
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Well-managed cost structure
Cost breakdown (as % of sales)
2023 2024 ▪ During 2024, Avian Brands
maintained a disciplined cost
G & A(1) 3.2% 3.4%
management while driving its
Sales and marketing(1) 17.7% 17.6% growth initiatives.
COGS(1) 54.6% 55.3%
Total 75.5% 76.3%
COGS breakdown (as % of sales)
2023 2024 ▪ Raw material as % of sales
declined in 2024, supported by
Raw material 27.8% 25.8%
price stabilization.
Direct labour 1.1% 1.0% ▪ The increase in BTL expenses
Factory overhead 2.4% 2.6% aligns with the company’s
intensified promotional
WIP and FG 15.8% 17.6% activities amidst the growing
Below-the-line (BTL) expenses 7.6% 8.2% competition.
Total 54.6% 55.3%
(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 Inflation
30.1 29.9 3.1 5.4 16.7 15.5 pressure
2,232
2,112 407 90.2% 90.6%(2)
1,171 1,158
1,051
997 129
507
523 216
1,243 1,462 88
278
-651 -788 128
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AR RM inventory Expansion capex
(1)
FG inventory AP Routine capex
(1) Routine capex includes upgrades to manufacturing and IT infrastructure, fleet expansion at distribution centers, and installation of tinting machines at retail outlets
(2) Represents 9M data
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Updates on the share buyback program
Number of shares Value in Rupiah ▪ Avian Brands initiated a share buyback program in
(million) (IDR billion) December 2023.
▪ The maximum authorized number of shares for the
buyback program is 1.4 billion shares with a budget
limit of IDR 1 trillion.
▪ As of December 2024, the company has successfully
1,425
1,000 acquired ~82% of the maximum number of shares,
using ~57% of the allocated fund.
1,163
▪ The company will convene its AGM in April 2025.
One of its key agendas is to request shareholders’
575 approval for an additional share buyback program.
Realization(1) Maximum Realization(1) Maximum
(1) As of December 2024
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Avian Brands’ commitment to ESG
Product stewardship Environmental
▪ 34 products have obtained Green Label Singapore ▪ 10.9% increase in renewable energy usage from 2023
certification. to 2024.
▪ 82.2% of the product portfolio is water-based. ▪ 5.1% reduction of energy intensity from 2023 to 2024.
▪ 56.3% of raw materials used in production are ▪ 17.2% reduction of hazardous waste disposal from 2023
renewable-based. to 2024.
▪ 16.0% reduction of greenhouse gas (GHG) emission
scope 1 & 2 from 2021 to 2024.
Social Governance
▪ Earned the Safety Program Award for 5.7 million man- ▪ AVIA is included in the ESG Quality 45 KEHATI Index,
hours without accidents. ESG Sector Leaders IDX KEHATI Index, and the SRI-
▪ Focused corporate social responsibility (CSR) efforts on KEHATI Index.
3 pillars, including education, environment, and ▪ Avian Brands plans to appoint a new independent
disaster management action. commissioner with a strong track record in the paint
▪ 144,529 total hours of employee training in 2024. industry to further strengthen our corporate
governance and business practices.
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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.
AGM agenda in April 2025: February 16th, 2025 – The construction of Avian Brands’ third factory in
Cirebon
▪ The appointment of Oscar Wezenbeek as a new
independent commissioner.
▪ An additional share buyback program of IDR 1 trillion.
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