Ace Hardware, Company Owned By Conglomerate Kuncoro Wibowo Raise Sales Of IDR 1.68 Trillion In First Quarter 2021

JAKARTA - The retail company PT Ace Hardware Indonesia Tbk has not been able to improve its performance in the first quarter of 2021. The issuer codenamed ACES experienced a decline in sales and profit performance in the first three months of 2021.

In ACE Hardware's unaudited financial report as of March 31, 2021, quoted on Wednesday June 30, the company owned by conglomerate Kuncoro Wibowo posted a decrease in net sales of 14.50 percent from Rp. 1.97 trillion in the first three months of 2020 to Rp. 1.68 trillion in the first quarter. I 2021.

ACES's net sales came from home improvement products, which became the largest source of sales, amounting to Rp890,27 billion. Sales of these products experienced a decline where in the first quarter of 2020, the company posted Rp1.03 trillion.

Ace Hardware also received sales from lifestyle products of IDR 696.38 billion, game products worth IDR 60.87 billion, and net consignment sales of IDR 34.14 billion. Where the results of sales of these products have decreased when compared to the same period in the previous year.

The decline in sales also resulted in a decrease in total profit for the year attributable to owners of the parent entity by 34.20 percent. In the first quarter of 2021, the company recorded a profit of IDR 161.65 billion, while in the first quarter of 2020 the company posted a profit of IDR 245.68 billion.

Meanwhile, Ace Hardware's assets in the first quarter of this year increased from Rp7.25 trillion in the fourth quarter of 2020 to Rp7.52 trillion in the first quarter of 2021. The increase was in line with the increase in the company's equity and liabilities.

In the first quarter of 2021, ACES posted additional equity to Rp5.39 trillion, while in the previous quarter there was equity of Rp5.22 trillion. The company's liabilities in the first quarter of 2021 were recorded at Rp2.13 trillion, while in the previous quarter it was Rp2.02 trillion.

For information, Ace Hardware has 200 outlets as of March 31, 2021, spread across various regions in Indonesia. Previously, at a public expose in May 2021, ACES projected sales growth and also plans to open 8 to 10 new outlets.

As of May 5, 2021, the company has opened new outlets in the cities of Tangerang, Depok, Bandung, and Kudus with an additional area of approximately 4,900 square meters. Therefore, this year ACES in January 2021 set a capital expenditure (capex) of IDR 150 billion.

This figure is reduced when compared to the capex in 2020 of Rp250 billion. Last year, ACES opened 14 outlets with a total area of 39,100 square meters.