Dairy Farm International Hldgs Ltd Nine Months 2020 Results of PT Hero (7575D)
October 30 2020 - 5:24AM
UK Regulatory
TIDMDFI TIDMJAR TIDMJDS
RNS Number : 7575D
Dairy Farm International Hldgs Ltd
30 October 2020
To: Business Editor 30th October 2020
For immediate release
PT HERO SUPERMARKET TBK
NINE MONTHS 2020 RESULTS
The following announcement was issued today by the Company's
89.3%-owned subsidiary, PT Hero Supermarket Tbk.
For further information, please contact:
Dairy Farm Management Services Limited
Diky Risbianto ( 62 - 21 ) 8378 8388
Gwendolyn Cheong (65) 8907 9249
Kirsten Molyneux (852) 2299 1884
South Tangerang, 30(th) October 2020
PT HERO SUPERMARKET TBK
NINE MONTHS 2020 RESULTS
Highlights
-- Nine months 2020 results significantly impacted by COVID-19
-- Grocery Retail and Health and Beauty affected by pandemic-related restrictions
-- IKEA performance continued to be supported by strong e-commerce growth
-- Multi-year transformation continues, despite market challenges
Results
(Unaudited)
NINE MONTHS
2020 2019 Change
---------------------
Rp billion Rp billion %
--------------------- ------------ ----------- ----------- ---------
Net Revenue 6,863 9,486 -27.7
Gross Profit 1,791 2,671 -32.9
Loss for the period (339) (7) n.m
Rp Rp %
------------ ----------- -----------
Loss per share (81) (2) -
----------------------------------- ----------- ----------- ---------
PRESIDENT DIRECTOR'S STATEMENT
Introduction
The Company continued to face significant challenges throughout
the third quarter due to the COVID-19 pandemic, the imposition of
lockdown movement restrictions and the resultant change in customer
shopping habits.
The Company's Grocery Retail and Health and Beauty businesses
were significantly adversely impacted by the pandemic in the third
quarter. PSBB (Large Scale Social Distancing) restrictions led to
material changes in customer shopping behaviors and product demand
patterns and also adversely impacted traffic into stores within
malls.
The IKEA Home Furnishing business was also impacted by COVID-19,
but revenue growth improved in the third quarter compared to the
first half, supported by strong e-commerce growth as well as an
increased contribution rate from the IKEA Sentul store which opened
at the end of last year.
Financial Performance
The performance of IKEA Home Furnishing in the third quarter
continued to be impacted by the pandemic and related trading
constraints, including restrictions on opening hours and foot
traffic into stores. Nonetheless, sales performance improved
relative to the first half, with e-commerce growth remaining
strong. The Company's IKEA store expansion plans remain in place,
and these will support future growth.
Guardian delivered strong growth in sales and underlying profit
in the first quarter. However, its performance since has been
significantly impacted by pandemic-related restrictions in
Indonesia and associated changes in customer behaviors. Reduced
operating hours, the closure of a number of malls, severe trading
restrictions on complimentary businesses and heavy reductions in
foot traffic have all impacted Guardian sales and profitability for
the first nine months of 2020. Guardian remains committed to
strengthening its value proposition and relevance to customers, and
continues to focus on prudent cost control to ensure it emerges
strongly from the current exceptional trading conditions.
Total Retail sales within the PT Hero Grocery Retail business
for the first nine months of 2020 were negatively impacted by the
annualization of the Company's store optimization plan implemented
last year. However, the most significant impact on underlying
financial performance remains changes in customer behaviors caused
by the pandemic as well as the rise in cost of goods. In addition
strict social restrictions, local travel bans and the closure or
imposition of heavy trading constraints on shopping malls have
significantly compromised foot traffic into, and heavily impacted
the performance of, large format destination hypermarkets, which
are frequently the anchor tenants of malls. Hero Supermarket stores
had a relatively stronger performance. The Company remains
committed to maintaining its competitive market position,
continuously evaluating, and enhancing the relevance of its offer
to customers.
Prospects
The Company expects performance for the remainder of the year to
continue to be significantly affected by the pandemic. However, the
Company remains confident in its strategic plans for the business
for the future.
Patrik Lindvall
President Director
30(th) October 2020
- end -
For further information contact:
Patrik Lindvall, President Director
PT Hero Supermarket Tbk
Tel: +62-21-8378 8388
E-mail: extcomm@hero.co.id
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