Slides
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Company Update 1H25 ACES.IJ
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DISCLAIMER Certain information set forth in this presentation contains “forward-looking information”, including “future-oriented financial information” and “financial outlook”, under applicable securities laws (collectively referred to herein as forward-looking statements). Except for statements of historical fact, the information contained herein constitutes forward-looking statements and includes, but is not limited to, the (i) projected financial performance of the Company; (ii) completion of, and the use of proceeds from, the sale of the shares being offered hereunder; (iii) the expected development of the Company’s business, projects, and joint ventures; (iv) execution of the Company’s vision and growth strategy, including with respect to future M&A activity and global growth; (v) sources and availability of third-party financing for the Company’s projects; (vi) completion of the Company’s projects that are currently underway, in development or otherwise under consideration; (vi) renewal of the Company’s current customer, supplier and other material agreements; and (vii) future liquidity, working capital, and capital requirements. Forward-looking statements are provided to allow potential investors the opportunity to understand management’s beliefs and opinions in respect of the future so that they may use such beliefs and opinions as one factor in evaluating an investment. These statements are not guarantees of future performance and undue reliance should not be placed on them. Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause actual performance and financial results in future periods to differ materially from any projections of future performance or result expressed or implied by such forward-looking statements. Although forward-looking statements contained in this presentation are based upon what management of the Company believes are reasonable assumptions, there can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The Company undertakes no obligation to update forward-looking statements if circumstances or management’s estimates or opinions should change except as required by applicable securities laws. The reader is cautioned not to place undue reliance on forward-looking statements. All content are Copyright © 2025 PT Aspirasi Hidup Indonesia, Tbk. all rights reserved. You may not otherwise copy or transmit the content of this presentation either electronically or in hard copies, or link to for this presentations. You may not alter the content of this presentation in any manners. If you are interested in using the content of this presentation, please contact PT Aspirasi Hidup Indonesia, Tbk who may or may not give permission.
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Business Overview
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AHI in numbers Part of KLG with 70 years of experience in the industry ACES IPO in 2007 at Indonesia Stock Exchange (IDX) Ticker Code Retail Brands A leading home improvement and lifestyle retailer in Indonesia 252 620k > Stores sqm Vast network across the country Integrated e-commerce and CRM platforms, est. 2019 Accolades All the awards and achievements we’ve received reflect our unwavering dedication to delivering excellent service to both our customers and stakeholders. Key Financial Highlight – 6M25 Gross Margin 47.0% Net Margin 6.9% ROA 6.9% ROE 9.4% (IDR) Sales 4.3tn NPAT 293bn * *AZKO no. of stores Serving 50,0000 SKUs • Home Improvement • Lifestyle • Toys Sales Mix Home Improvements 55% Life Style 41% Toys 4%
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Our stores are present in over 62 cities across 31 provinces throughout Indonesia JAWA AZKO 172 TOYS KINGDOM 51 BALI / NUSRA AZKO 13 TOYS KINGDOM 2 SUMATERA AZKO 35 TOYS KINGDOM 8 KALIMANTAN AZKO 13 TOYS KINGDOM 7 SULAWESI AZKO 15 TOYS KINGDOM 8 MALUKU AZKO 2 As of 1H25, AHI owns a total of 252 AZKO stores and 76 Toys Kingdom stores. PAPUA AZKO 2
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Key strategic initiatives Our dedication to growing the business drives us to constantly improve, innovate, and adapt to the ever-evolving landscape Omnichannel mindset Experienced in adapting to the fast-paced digital transformation and integrating omnichannel strategies in the evolving industry Explore new opportunities in untapped areas Indonesia still has a lot of untapped areas with great potential to reach a wider customer base Innovating and enhancing the product portfolio Utilizing our expertise to carefully select and strengthen product portfolio that meets customer demand Embark on a new journey with fresh brand A fresh, vibrant Next-Gen concept is here to elevate the customer experience and serve them even better
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Embark on a new journey with fresh brand Your Home Life Improvement Partner AZKO was launched on Jan 1st, 2025, during New Year’s Celebration Inauguration of new experience stores on Jan 9th, 2025 at LW Alam Sutera and Kelapa Gading The brand represents the company’s commitment to improving lives with A-Z product collections, comprehensive services, and innovative solutions tailored to Indonesian customers' needs and aspirations. • AZKO Experience Store, with a next- gen concept, incorporates new and modern features to deliver comfort and elevate the shopping experience Main Attractor Innovation Corner Idea Spots
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A thematic rebranding campaign to introduce the new brand and enhance brand awareness across both offline and online media • Strategically positioning at key OOH locations to ensure maximum visibility and impact across Indonesia. • Partnering with KOLs from various regions to expand brand awareness, ensuring the brand message resonates with a broader audience • Amplify Brand Exposure and Awareness with Mobility Advertising on the Road through Logistics Vehicle Wraps
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All signage has been updated with the new brand, ensuring a seamless rebranding and a consistent, smooth customer experience across all stores in Indonesia. AZKO Store Prabumulih, South Sumatera Living World Pekanbaru, Riau Neo Soho Jakarta, DKI Jakarta Trio Mall Kebumen, Central Java IBCC Bandung, West Java Living World Denpasar, Bali Royal Plaza Surabaya, East Java AZKO Store Pontianak West Kalimantan
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Brand Awareness Day with Customer • We designated few days to connect with our customers regarding our rebranding, also to collect their opinions on our stores and any potential areas for improvement.
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Innovating and enhancing the product portfolio A widely recognized home brand among Indonesian consumers, known for its consistent quality and competitive pricing KLAZ – a premium household brand by AZKO, offers stylish, minimalist, and functional products, from kitchen appliances to beauty tools. Designed to enhance everyday life and elevate home aesthetics. STORA – offers innovative space-saving solutions with a range of household organizers designed to create a clutter-free lifestyle. KRISBOW SYNC – an IoT solution that simplifies modern living by seamlessly integrating security, lighting, electrical systems, and home living products into one user-friendly platform. More than 20 product categories • Appliances • Electrical • Plumbing & Sanitary • Hardware • Home Living • Kitchenware • Cleaning • Automotive • Decoration & Furniture • and more… • AHI features top-quality home brands like KRISBOW, KRIS, KLAZ, and STORA, which are trusted and popular among customers in Indonesia. • Offering full warranties and, in some cases, free installation on our home brands are two key selling points • Home brands account for around 75% of the business. 52 Home Brands
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Explore new opportunities in untapped areas Source: bps.go.id GDP growth by region • For the past two years, GDP growth in Kalimantan and Eastern Indonesia has exceeded the national average. AZKO Stores Location • AHI store penetration in the Ex-Java area remains underdeveloped, with only 32% of the total stores across Indonesia located in this region. • Focus on penetrating newly targeted markets, particularly second- and third-tier cities, which present substantial growth potential. Jakarta 20% [CATEGORY NAME] 48% [CATEGORY NAME] 32%
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Omnichannel mindset • Our strategic initiatives focus on delivering a seamless shopping experience for customers through an integrated omnichannel approach Scan & Shop Customers can independently scan products, add them to carts, and make payments in the app. Elevating cstomers’s convenienve and shopping experience. Delivery tracking Live tracking which contains detailed information regarding the status of order shipments to customers both for transactions made online and offline. E-Warranty Features that can be used by customers to check the warranty period, register and claim product warranties that have been purchased online or offline. Digital Stamp A loyalty program where members earn stamps from in- store, web, and app purchases, redeemable for special price products via the app. Return at any Store Customers can return products at any nearby store, without needing to go to the original store. Pay with point Customers can collect points from previous transactions and use them as payment online or in-store. Wishlist A feature that lets store teams send products selected during a store visit via WhatsApp or email, allowing customers to complete their purchase later. Rating & Review Customers can rate and review products purchased online or in- store, as well as provide feedback on store services. Offline Stores Mobile App Conversational commerceMarketplace E-commerce Website • We’re infusing a digital-first approach into our strategy to drive engagement and accelerate business growth
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Successfully executing the online strategy and continuously developing to unlock the exciting potential ahead. Total online sales contribution from all platforms 12% Rating: 4.8 Review: 37k Rating: 4.6 Review: 4.1k • Ruparupa is an integrated e-commerce platform and customer relationship management (CRM) system developed. It serves as the official online partner for various Kawan Lama Group brands, including AZKO, Informa, Toys Kingdom and more. • The user base is mainly aged 18-34, making up over 50%* of total users, aligning with our strategy to engage younger audiences through an online presence. • Ruparupa accounts for approximately 75% of online sales, which translates to around 8% of total sales (out of 11%) *source: similarweb.com Ruparupa downloads on Apple and Android stores +2mn Ruparupa rating and no. of reviews • In-Store Pickup Service (Diambil di Toko), customers can order products online and then pick them up directly from a physical store location. • Return at Any Store (Pengembalian di Toko Mana Aja), customers can return products at any store location, regardless of where the purchase was made. • Free Shipping (Gratis Ongkir), 0% Installments (Cicilan 0%), 14- Day Warranty (Garansi 14 Hari), all these services are subject to terms and conditions. Ruparupa’s additional services designed to make shopping experience effortless
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Operational Update
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Soft purchasing power persisted post-Lebaran in Q2, leading to weak SSSG across regions Sales mix trend by area • The nationwide SSSG for the 6M25 recorded at -2.9%. Specifically, Jakarta recorded a decline of -4.5% YoY, while Java ex. Jakarta saw a decrease of -3.8% YoY, and ex. Java area experienced a smaller drop of - 0.9% YoY. SSSG trend per area & National 20% 19% 45% 45% 35% 36% 2023 2024 Jakarta Java ex. Jakarta Ex. Java -4.5% -10.0% -5.0% 0.0% 5.0% 10.0% 15.0% Jul-23 Sep-23 Nov-23 Jan-24 Mar-24 May-24 Jul-24 Sep-24 Nov-24 Jan-25 Mar-25 May-25 JAKARTA -0.9% -5.0% 0.0% 5.0% 10.0% 15.0% 20.0% 25.0% 30.0% Jul-23 Sep-23 Nov-23 Jan-24 Mar-24 May-24 Jul-24 Sep-24 Nov-24 Jan-25 Mar-25 May-25 Ex. JAVA -3.8% -5.0% 0.0% 5.0% 10.0% 15.0% 20.0% Jul-23 Sep-23 Nov-23 Jan-24 Mar-24 May-24 Jul-24 Sep-24 Nov-24 Jan-25 Mar-25 May-25 JAVA ex. JAKARTA -2.9% -5.0% 0.0% 5.0% 10.0% 15.0% 20.0% Jul-23 Sep-23 Nov-23 Jan-24 Mar-24 May-24 Jul-24 Sep-24 Nov-24 Jan-25 Mar-25 May-25 INDONESIA 19% 18% 45% 43% 36% 39% 1H24 1H25
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1 2 5 Jakarta Java ex Jakarta Ex Java In 6M 2025, AHI launched eight new AZKO stores, mainly in previously untapped locations New stores opened in 6M25 Total store as per 2Q25 equals to 252 Total 8 new stores 50 122 80 Jakarta Java ex Jakarta Ex Java Palu, Sulawesi (Ex Java | 2Q) Singaraja, Bali (Ex Java | 2Q) Plaju, Palembang (Ex Java| 2Q) Condet, Jakarta (Jakarta | 2Q)
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Thematic promotion campaign in 2Q25 • Executed a brand campaign at SCBD Transjakarta stations, using modern design and striking visuals to create an engaging atmosphere and increase brand visibility among daily commuters. • Boom Van were deployed across multiple key locations, including Blok M, Blora, Bekasi, Serpong, and CFD Sudirman with several activities such as jingle, sing along, dance challenge, and pop quiz 1. Rak Stora Baru Untuk Story Baru Stora Brand Campaign (16 April – 27 Mei 2025) 2. Belanja Gak Mesti Mahal, Hematnya Maksimal (Boom Sale) Boom Sale (29 Mei - 28Juli 2025) Brand awareness campaign
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The rebranding of AZKO has shown remarkable progress in 6 months, quickly catching up to the previous brand with 30 years of history Index WOM Exposures Awareness Recommend Ad Awareness AZKO Previous Brand Source: YouGov
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Financial Update 6M 2025
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SALES (IDR bn) GROSS PROFIT (IDR bn / %Margin) EBIT (IDR bn / %Margin) NET INCOME ATTRIBUTABLE TO SHAREHOLDERS (IDR bn / %Margin) 1H YoY : +3.2% 2Q YoY : -0.4% 2Q QoQ : -0.1% • Overall, AHI booked 3% sales growth as of 1H25, supported by new stores expansion across cities in Indonesia. • Lower gross margin was largely driven by sales promotions, which were strategically tailored to stimulate customer purchases. • High operational cost was affected by weak sales. EBIT margin for 2Q25 was maintained at 9% stable compared to previous quarter. • Higher other operating income was attributed to commission fees from vendor transactions, membership fees from the instant upgrade program, and insurance sales commissions. • Overall net margin was 1% lower year-on- year, but remained stable compared to the previous quarter. Despite weak purchasing power and subdued post- Lebaran spending, sales in 2Q25 remained stable GROWTH (%) 4,135 4,269 2,142 2,136 2,133 1H24 1H25 2Q24 1Q25 2Q25 2,007 2,020 1,041 1,025 996 49% 47% 49% 48% 47% 1H24 1H25 2Q24 1Q25 2Q25 1H YoY : +0.6% 2Q YoY : -4.3% 2Q QoQ : -2.8% 474 385 208 192 194 11% 9% 10% 9% 9% 1H24 1H25 2Q24 1Q25 2Q25 366 293 161 142 151 9% 7% 8% 7% 7% 1H24 1H25 2Q24 1Q25 2Q25 1H YoY : -18.7% 2Q YoY : -7.0% 2Q QoQ : +1.0% 1H YoY : -19.9% 2Q YoY : -6.0% 2Q QoQ : +6.8%
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Robust balance sheet with net cash Cash Conversion Cycle (in days) Cash & Cash Equivalent (IDR bn) • The Company’s healthy net cash position and strong cash reserves ensure stability amid market fluctuations and position it well to invest in future growth. • Inventory turnover showed a modest uptick, positively impacting the cash conversion cycle. We expect inventory days to normalize by year-end 3 3 290 280 (15) (13) 278 270 1Q25 1H25 Receivable Days Inventory Days (Payable Days) Cash Conversion Cycle Dividend (IDR bn) and Payout Ratio 531.8 573.5 579.9 80% 74% 65% 2022 2023 2024 • AHI distributed a cash dividend of IDR 579.87 billion, which was paid on 17 July 2025. 2,190 2,319 1,875 2,065 2022 2023 2024 1H25
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Email : group.investorrelations@ahi.id | Website : https://ahi.id/en/