JAKARTA – PT DFI Retail Nusantara Tbk (HERO) reduced its losses by 96% in 2024 compared to 2023. This result reflects the ongoing recovery in operating losses from 2023 into 2024.

Hadrianus Wahyu Trikusumo, President Director of HERO, stated that the company recorded a net revenue of IDR 4.5 trillion, up 4% from the previous year's IDR 4.3 trillion.

Losses from continuing operations amounted to IDR 146 billion, an improvement from the IDR 431 billion loss in the previous year. This improvement was mainly driven by the growth in Guardian's profits and a reduction in IKEA's losses, alongside the recorded gains from divesting the Hero Supermarket business and selling non-core properties.

“The total loss recorded was IDR 6 billion, improving from a loss of IDR 132 billion in 2023,” he said in a press release on Thursday (13/3).

Guardian reported double-digit sales and profit growth, supported by increased sales volumes and a higher number of visitors in premium malls and tourist destinations. However, IKEA’s performance remained affected by declining demand for household furniture.

"IKEA continues to focus on sales growth through initiatives such as enhancing store appeal, optimising store layouts, and improving shopping tools," he added. (LK/ZH)