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20241031_AVIA_Laporan Informasi dan Fakta Material_31751313_lamp1.pdf
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PT Avia Avian Tbk
Investor Presentation
Q3 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 Q3 2024 snapshot
SALES GROSS PROFIT EBITDA NET PROFIT
IDR 1.8 T IDR 776 B IDR 427 B IDR 352 B
( US$ 113 m ) ( US$ 49 m ) ( US$ 27 m ) ( US$ 22 m )
43.5% 24.0% 19.7%
EMPLOYEES DISTRIBUTION COVERAGE CUSTOMERS
CENTERS
38 Provinces 57,000+
8,000+ 162 99 Cities Retail outlets
Convenience translation from IDR based on the average USD/IDR exchange rate in Q3 2024 of 15,821
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Q3 2024 financial performance highlights
In IDR billion 2024 2023 Change ▪ In Q3, consolidated sales were recorded at
(except per share data) IDR 1.8 trillion, marking a 7.8% increase
Consolidated sales 1,784 1,656 7.8% compared to the same period last year.
Architectural solutions 1,352 1,292 4.7% ▪ The inflationary pressures have softened.
However, consumer spending remains
Trading goods 432 364 18.7%
sluggish, reflecting continued challenges in
Gross profit 776 697 11.2% the economic environment.
Architectural solutions 660 634 4.1% ▪ The slight decline in EBITDA and net profit
Trading goods 116 63 82.3% margins was attributable to the increase in the
promotion and marketing activities in
Gross margin 43.5% 42.1% 1.3%
response to the more aggressive competition.
Architectural solutions 48.8% 49.1% -0.3%
▪ Avian Brands is focused on executing its
Trading goods 26.7% 17.4% 9.3% sustainable growth strategies, aiming to grab
EBITDA 427 410 4.2% market share from other competitors amidst
the tough market conditions.
EBITDA margin 24.0% 24.8% -0.8%
Net profit 352 334 5.4%
Net profit margin 19.7% 20.2% -0.4%
EPS 5.8(1) 5.4 8.0%
(1) Calculated based on the weighted average number of shares in Q3 2024 after taking into account the treasury shares
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New products launched in Q3 2024
Key product segments Price range
Premium 5 4 3 2 1 Economic
Sunguard Supersilk Supersilk
All-in-One Sunguard Semi Kilap Anti Noda Supersilk
Wall
No Drop No Drop Beton No Drop No Drop No Drop
Anti Panas & Batu Alam Plus 3in1 No Drop Basic Bitumen
Waterproofing
Avian Lem Avian Lem Avian Non- Avian Non-
Epoxy Super Epoxy Hemat Sag Super Sag Hemat
Glue
GML500 GM510 GM270 GM480 GM220 GM380 GM385
Instant cement
▪ During Q3 2024, we launched a total of 4 products
as indicated in blue labels.
▪ Our robust research, development, & innovation
(RDI) capabilities empower us to continuously
deliver best-in-class products, strengthening our
leading position in the market.
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Distribution center expansion
Distribution centers by
regions:(2)
Java: 69
▪ Greater Jakarta: 12
▪ West Java: 15
▪ Central Java: 19
▪ East Java: 23
Outer Java: 93
▪ Sumatra: 35
▪ Kalimantan: 19
▪ Sulawesi: 20
▪ Rest of Indonesia: 19
▪ Our strong logistical infrastructure enables us to make ~13,000 daily deliveries. Total: 162
▪ We are able to achieve 92%(1) 1-day delivery service fulfilment.
▪ The company is committed to strengthening our delivery capability and optimizing the
supply chain efficiency.
(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
Q3 sales by value 9M sales by value Q3 number of 9M number of
(IDR billion) (IDR billion) customers customers
5,405 55,101 56,153
1,784 5,164
1,656 49,593 50,990
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Consolidated business – sales
9M 2024 sales by segments 9M sales by customers 9M sales by distribution
networks
Trading goods
0.7% 0.6%
21%
7.1% 7.9% 11.7% 10.1%
92.9% 92.1% 87.6% 89.3%
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Architectural solutions(1) Modern retail outlets Others
79% 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
Q3 gross profit 9M gross profit ▪ In Q3, Avian Brands recorded a consolidated gross
(IDR billion) (IDR billion) profit of IDR 776 billion, indicating an increase of
11.2% year-on-year. The gross margin for the quarter
was 43.5%.
margin in % margin in %
▪ For the nine months, consolidated gross profit
42.1 43.5 44.2 44.5
reached IDR 2.4 trillion, representing a 5.4% year-on-
year increase. During the same period, gross margin
776 2,405 was registered at 44.5%.
2,281
697 ▪ Raw material prices exhibited a relatively stable
trend in Q3. The company is actively monitoring
fluctuations in the USD/IDR exchange rate and the
upward trend in certain materials.
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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 %
24.8 24.0 27.6 26.5 20.2 19.7 22.1 21.5
1,425 1,430
410 427 352 1,142 1,160
334
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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)
4,180 4,247 42,552 119,918 124,409
1,292 1,352 37,955
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(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
91.3 91.5 91.1 91.7
50,191 51,496
45,285 46,664
27th August 2024 - Avian Brands’ customer gathering, Bandung
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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
75.7 76.8 82.9 83.6
1,158
432 45,694 46,919
984 39,145
364 37,566
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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 %
49.1 48.8 50.4 50.8 17.4 26.7 17.8 21.3
660 2,106 2,158 247
634 116
175
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Well-managed cost structure
Cost breakdown (as % of sales)
2023 9M 24 ▪ Avian Brands maintained an
aggressive approach in its
G & A(1) 3.2% 3.4%
marketing efforts. This led to an
Sales and marketing(1) 17.7% 18.1% increase in the sales and
COGS(1) 54.6% 55.5% marketing expenses.
Total 75.5% 77.1%
COGS breakdown (as % of sales)
2023 9M 24 ▪ Raw material prices remain
relatively stable during the
Raw material 27.8% 25.3%
nine-month period.
Direct labour 1.1% 1.1% ▪ The company intensified its
Factory overhead 2.4% 2.7% promotional activities amidst
the growing competition,
WIP and FG 15.8% 17.8% contributing to an increase in
Below-the-line (BTL) expenses 7.6% 8.6% BTL expenses.
Total 54.6% 55.5%
(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 Inflation
30.1 30.2 3.1 4.5 16.7 16.1 pressure pressure
2,112 2,173
90.2% 90.1%
244 1,171
997 1,021 216
67 870
523 513 88
1,243 1,286
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128
-651 -647
23 9M 24 23 9M 24 23 9M 24 23 H1 24
AR RM inventory Expansion capex
FG inventory AP Routine capex(1)
(1) The routine capex consists of upgrades to the manufacturing facilities and IT infrastructure, trucks and vehicles in the distribution centers, and tinting machines for retail outlets
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Updates on the share buyback program
Number of shares Value in Rupiah ▪ Avian Brands launched 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 September 2024, the company has
successfully acquired ~53% of the maximum number
1,425 1,000 of shares, using ~40% of the allocated fund.
▪ The primary objective of the share buyback
program is to bolster investor confidence.
758
398
Realization(1) Maximum Realization(1) Maximum
(1) As of September 2024
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Guidance for 2024
FY 2024 sales guidance:
▪ Value growth 6 - 10%
▪ Volume growth 4 - 8%
Planned actions in 2024:
▪ Launch new products in various segments and
accelerate the deployment of tinting machines at
retail outlets.
▪ Expand the distribution centers to strengthen
product penetration and market presence.
▪ Elevate our service quality to deliver exceptional Painting a Beautiful Picture of
value to customers. Indonesia
▪ Proceed with the share buyback program.
▪ Optimize internal operations and strengthen ESG
initiatives to drive efficiency and sustainable growth.
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