Guardian’s Strong Growth and IKEA’s Recovery Boost HERO’s Financial Performance
Main Takeaways
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JAKARTA, Investortrust.id – PT DFI Retail Nusantara Tbk, or HERO, formerly known as PT Hero Supermarket Tbk, reported a net revenue of Rp 4.54 trillion ($286 million) by the end of 2024, reflecting a 4% year-on-year increase. The company attributed this growth to strong sales performance and solid profit gains from its Guardian business.
President Director of DFI Retail Nusantara, Hadrianus Wahyu Trikusumo, stated that the company’s financial performance improved significantly in 2024. While IKEA faced challenges due to declining household furniture demand, overall losses were substantially reduced compared to the previous year.
The company recorded an operating loss from continuing operations of Rp 146 billion, a notable improvement from the Rp 431 billion loss in 2023.
“This improvement was primarily driven by Guardian’s profit growth and reduced losses in IKEA. Additionally, after factoring in gains from the divestment of Hero Supermarket and non-core property sales, the company’s total net loss for the year stood at Rp 6 billion ($378,000), a major recovery from the Rp 132 billion loss recorded in 2023,” Wahyu stated in a press release on Monday, March 17, 2025.
Guardian’s Growth and IKEA’s Efficiency Measures
Guardian recorded double-digit sales and profit growth, fueled by increased transaction volumes and higher foot traffic in premium malls and tourist destinations. The company remains committed to strengthening its value proposition, optimizing product offerings, and expanding omnichannel presence to enhance customer accessibility.
Meanwhile, IKEA continued to experience sluggish demand in the home furniture segment. However, cost-efficiency measures contributed to better operational performance compared to the previous year.
“IKEA is focusing on boosting sales through initiatives such as improving store appeal, optimizing store layouts, and refining shopping tools. Additionally, efforts to enhance product availability through local sourcing, supported by more effective marketing strategies, aim to strengthen its position in the domestic market,” Wahyu added.
Transformation Strategy and Future Outlook
In June 2024, DFI Retail Nusantara completed the divestment of Hero Supermarket to its affiliate, PT Hero Retail Nusantara, allowing the company to fully concentrate on expanding Guardian and IKEA in Indonesia.
As part of its transformation strategy, the company officially changed its corporate name to PT DFI Retail Nusantara Tbk. It also successfully divested four non-core properties throughout the year, further strengthening its financial position.
The company anticipates continued momentum in the health and beauty sector, while uncertainties persist regarding the recovery of the home furniture market.
“With a sharper strategic focus, the company is well-positioned to drive sustainable medium- to long-term growth,” Wahyu concluded.