ACES – Expects a positive performance in 2024

ACES – Expects a positive performance in 2024 Ace Hardware (ACES) is optimistic about achieving positive growth in 2024, focusing on strategic initiatives such as market expansion, service enhancement, and product portfolio improvement. Despite potential challenges from geopolitical tensions and political uncertainties, the company is confident in outperforming the previous year, emphasizing a well-defined work plan and effective risk management. Furthermore, ACES plans to add 15 stores in 2024, focusing on expanding into Eastern Indonesia. Operating 233 stores in 67 cities, ACES will open a new store in Banyuwangi, East Java, following the successful launch of its first store in 2024 at The Park Pejaten, Jakarta, on January 19. The capex for this year will prioritize extending ACES's service coverage across Indonesia. Note that, in 9M23 ACES reported sales of IDR5.49 tn and net profit of IDR485.83 bn (+38.13% yoy). (Source: Kontan)