Surabaya, February 29, 2024 – The market leader in decorative paints in Indonesia, PT Avia Avian Tbk (“AVIA”), successfully recorded a net profit of IDR 1.643 trillion for the 2023 fiscal year. With this achievement, the company's performance exceeded analysts' consensus estimates (IDR 1.5 trillion). Compared to 2022, the company successfully achieved a net profit growth of 17.3%.
Equally remarkable, the company also recorded its highest net profit margin in the last five years, at 23.4%.
From an EBITDA perspective, AVIA recorded IDR 1.928 trillion for 2023 with an EBITDA margin of 27.5%. Compared to the previous year, this figure grew by 15.8%.
This increase in profitability was supported by an increase in gross profit and measured and effective operational cost control. Equally important, the company's sales growth supported the achievements in 2023. Throughout 2023, AVIA successfully recorded sales of IDR 7.02 trillion.
AVIA's increasingly complete product portfolio also supported the positive achievements in 2023. The completeness of AVIA's products helps the company reach various consumer segments. This comprehensive product portfolio is inseparable from the commitment and hard work of AVIA's research team.
The research, development, and innovation (RDI) team is supported by more than 70 qualified chemists. AVIA's RDI team is fully committed to developing various innovative products. AVIA is determined to continue to meet consumer needs, and this results in sales growth.
Throughout 2023, AVIA successfully introduced two new products for the anti-leak coating paint category, namely No Drop Plus 3in1 and No Drop Basic. The No Drop product line is one of AVIA's flagship products. No Drop has long held a dominant position in the anti-leak coating paint market.
In addition to anti-leak coating paints, AVIA also launched four wall paint products and two wood and iron paints.
AVIA management hopes that all commitments, hard work, and initiatives will result in double-digit growth in this year of the wood dragon.
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About PT Avia Avian Tbk
PT Avia Avian Tbk was founded in 1978 as an integrated paint manufacturing company. Known as Avian Brands. For over 4 decades, Avian Brands has brought color to the lives of millions of Indonesian families, through a variety of products including Sunguard All in One, Supersilk Anti Stain, and Avitex wall paints, No Drop anti-leak coating paint, and Avian wood & iron paints.
Listed on the Indonesia Stock Exchange (IDX) on December 8, 2021, with stock code (IDX: AVIA), AVIA is the largest decorative paint manufacturer and a market leader in the decorative paint and coatings industry in Indonesia based on a survey conducted by Frost & Sullivan.
Currently, AVIA controls approximately 23% market share in the decorative paint and coatings industry in Indonesia. AVIA has strong manufacturing capacity and capabilities through manufacturing facilities in Sidoarjo and Serang. Vertical integration allows AVIA to produce raw materials internally.
AVIA's sales are divided into architectural solutions and merchandise. Architectural solutions contribute 80% of sales, and the merchandise segment contributes 20% of sales.
Since 2020, Avian Brands has had the first research, development, and innovation center in Indonesia called Avian Innovation Center (AIC), spanning 5,000 square meters.
As a form of Avian Brands' commitment to environmental management, occupational health and safety, and GCG (Good Corporate Governance) in accordance with international standards, Avian Brands has successfully obtained and implemented ISO 9001:2015 (Quality Management System), ISO 14001:2015 (Environmental Management System), ISO 45001:2018 (Occupational Health and Safety Management System), ISO 50001:2018 (Energy Management System), and ISO 27001:2013 (Information Security Management System).
The presence of Avian Brands aims to provide leading benefits and contribute to coloring Indonesia.
