• ACES recorded stellar performance in 2024
Aspirasi Hidup Indonesia (ACES) recorded solid financial performance with a 15.8% increase
in FY24 net profit, reaching IDR 892B compared to IDR 770B in the previous year. Revenue
also rose by 12.6% to IDR 8.58T, supported by increased product demand, aggressive
branding and marketing strategies, and the enhancement of omnichannel services. ACES
also recorded annual same-store sales growth (SSSG) of 8.8%, surpassing its previous
guidance and showing improvement from the prior year’s 8.1%. The highest growth occurred
outside of Java Island with an SSSG of 11.1%, followed by Java (excluding Jakarta) at 8.6%, and
Jakarta at 5.0%. As part of its expansion strategy, ACES opened several new stores in eight
new regions, including Banyuwangi, Banda Aceh, and Bitung. In 1Q25, the company has fully
rebranded its stores to AZKO and opened 4 new stores. (Kontan)
• GGRM’s net profit down 81.58% in 2024
Gudang Garam (GGRM) reported a net profit of IDR 980.8B in 2024, marking a sharp decline
of 81.58% compared to IDR 5.32T in the previous year. The company’s revenue also dropped
17.06% yoy to IDR 98.65T, primarily due to a significant decrease in domestic cigarette sales.
Domestic revenue fell 17.13% to IDR 97.33T, while export sales slipped to IDR 1.31T from IDR
1.49T in 2023. Gross profit declined by 35.74% to IDR 9.37T. The company’s total liabilities as
of Dec 24 stood at IDR 23.02T, while total assets decreased by 8.12% to IDR 84.93T. However,
total equity slightly increased to IDR 61.91T from IDR 60.86T in 2023. (Bisnis Indonesia)
• TBIG posted IDR 1.36T net profit in 2024
Tower Bersama Infrastructure (TBIG) recorded a net profit of IDR 1.36T in 2024, a 12.73%
decline from IDR 1.56T in the previous year. This was in contrast to revenue, which rose 3.41%
yoy to IDR 6.86T, primarily driven by telecommunications tower leases amounting to IDR
6.3T. Key clients included Telkomsel (IDR 2.3T), Indosat (IDR 1.76T), XL Axiata (IDR 1.26T), and
Smart Telecom (IDR 943.5B). TBIG also earned IDR 557.04B from fiber optic services and IDR
3.5B from investment properties. Although the company saw a 2.04% increase in cost of
revenue to IDR 1.94T, gross profit improved by 3.97% to IDR 4.92T. On the balance sheet,
TBIG’s total assets rose to IDR 47.3T in 2024 from IDR 46.5T the previous year. Liabilities
increased to IDR 36.7T from IDR 34.18T, while total equity declined to IDR 10.5T from IDR 12.3T.
(Bisnis Indonesia)
