Ace Hardware Indonesia (ACES ID)

One and the Same

January Update

 Last month saw the opening of the 130th store in Karang Mulya, Tangerang. It is

the first of ten new stores slated to be opened in FY17 for which ACES had allocated

IDR 300 billion in capital expenditure.

 The new stores would boost revenue to IDR 5.1 trillion, a 3.67% growth from FY16

initial sales target. This guidance is broadly in line with our FY17 projection which

stands at IDR 5.2 trillion.

 Strong performance is reported at the onset of FY17 with 8.9% (YoY) revenue

increase in January.

INDONESIA
PT Phillip Securities Indonesia
ANZ Tower Level 23B, JlJendSudirman
Kav. 33A Jakarta 10220 – Indonesia
Tel +62-21 5790 0800 Fax +62-21 5790 0809
Website: www.phillip.co.id