17 August 2022

PT ACE HARDWARE TBK

 Shareholder & Struktur Perusahaan Individu Lokal Individu Asing
3% 0%

Masyarakat
40%
PT KAWAN LAMA Institusi Asing
SEJAHTERA 34%
60%
Institusi Lokal
64%

KUNCORO WIBOWO
0%

PT Kawan Lama Sejahtera Masyarakat

60% 40%
PT Ace Hardware
Indonesia

60% 30%

PT Toys Game Indonesia PT Omni Digital Indonesia

(TGI) (ODI)

• Keynote
1. Kawan Lama Group didirikan oleh Bapak Wong Jin ayahanda dari bapak Kuncoro Wibowo pada tahun 1955
2. AceHardware sedang memperkuat lini bisnisnya dalam distribusi dengan membentuk online platform seperti rupa-rupa, MissAce,
AceHardware serta ToysKingdom online platform commerce.
3. Tahun 2020 – Sekarang adalah tahun terburuknya Ace Hardware dalam mencetak pertumbuhan yang fantastis selama 10 tahun kebelakang
 Model
 Business Model  Distribution
Bali & Nusa Tenggara
Bali & Nusa Tenggara Maluku Sulawesi 2%
5% 0% 8%
Kalimantan
Ace Hardware Sulawesi Sumatera Kalimantan
Sumatera
10% 7%
SUPPLIER & 5% 13% 4%

Toys Kingdom

Distribution
Purchasing

Java Java
AceHardware Store
73% Toys73%Kingdom Store
CASH CONSUMER 2021 216 Unit 2021 59 Unit
 Store Growth
250

CAGR 11 Years =15.33% 208

216

AceHardware model bisnis hanya sebagai retailer yang menjual barang 200 CAGR 11 Years =31.10% 197

176
dari supplier antara membelinya ataupun melalui konsinyasi.
(RESELLER) 150 144
129
117
110

100 95
Product :
76
 Home Improvement 57 59
53 53
50 45
 Lifestyle 27 30
39
24 26
20
16
 Toys 3
9

0
2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021

Gerai Ace Hardware (Toko) Linear (Gerai Ace Hardware (Toko))

Toys Kingdom (Toko) Linear (Toys Kingdom (Toko))
 Business Highlight
 Revenue Structure
Revenue Toys Kingdom
7% IDR9,000,000 -10
,2%  ACES Store performace belum membaik, 1 Toko AceHardware rata-
IDR8,000,000
9,6 1%
IDR7,000,000
n :1
Ta hu rata memiliki omset sekitar Rp 38 Miliar pertahunnya atau Rp 104
IDR6,000,000
R 9
IDR5,000,000 CAG Juta perharinya. Sedangkan pada tahun 2020 dan 2021 akibat
Revenue Ace Hardware
IDR4,000,000
93% COVID performa perusahaan terpuruk. Sedangkan Toys Kingdom
IDR3,000,000

IDR2,000,000
tidak memiliki masalah. Karena 93% Revenue berasal dari
REVENUE FY 2021 IDR1,000,000

Rp 6.678.191 Mio IDR-

AceHardware, maka efek dari Toys Kingdom tidak terasa.
2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021

Revenue Ace Hardware Revenue Toys Kingdom

 Revenue / Store Revenue AH / Store Revenue TK / Store

In a Million Rupiah In a Million Rupiah
IDR50,000 IDR3,000
IDR44,634
IDR45,000
IDR41,295 IDR40,378 IDR40,564 IDR40,946
IDR39,617 IDR39,755 IDR39,791 IDR2,500 IDR2,388
IDR40,000 IDR37,607
IDR36,003 IDR35,473 AVERAGE IDR2,178
IDR35,000 IDR2,006 IDR2,013
IDR2,000 IDR1,869 IDR1,899
IDR1,790
IDR30,000 IDR28,472

IDR25,000 IDR1,500
AVERAGE
IDR20,000 IDR1,083
IDR1,000 IDR913
IDR15,000 IDR763 IDR722
IDR10,000
IDR500
IDR5,000 IDR184
IDR- IDR-
2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
 Business Highlights
 Cost Structure Transportation
IDR9,000,000

0% Others
IDR8,000,000 IDR1,036,612
Consumption 19%
Tax Owner Income 3% IDR976,277 IDR731,133
2% 11% Royalty IDR7,000,000
2% IDR718,803
Net Finnex Ads & Promo- IDR6,000,000
IDR780,686
1% tion
2% Salary
G&A 58%
IDR5,000,000
IDR706,151
Freight Out IDR584,875
8% COGS 4%
IDR4,000,000
IDR556,709
IDR503,275
50% Maintenance
12% IDR3,000,000 IDR429,120

Selling Expense
IDR279,504
IDR2,000,000
Selling Expense
21% IDR167,669

Depreciation Right Use Asset Depreciation & Ammortization

2021 IDR1,000,000

IDR-
5% FA 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021

REVENUE FY 2021 2% COGS Depreciation & Ammortization FA Depreciation Right Use Asset Selling Expense

Rp 6.678.191 Mio G&A Net Finnex Tax Owner Income

Others Indeks Keyakinan Konsumen

Post Employment 8%
Benefit
7%
140 OPTIMIS
Office Supplies
4% 120
Maintenance
3%
 Pokok Permasalahan utama ACES karena 100
Salary
48%
performa pertoko menurun, Tetapi Fixed Cost
80
Profesional Fee
tidak menurun, OPEX memakan sekitar 30% dari 15%
60
Utility
omset dan biaya depresiasi sekitar 7%. 15% PESIMIS
40
 Performa perusahaan dapat terlihat dari indeks
keyakinan konsumen (IKK), karena salah satu
G&A 20

faktor perusahaan dapat membaik adalah traffic

2021
0
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul
2020 2021 2022
mobility dan daya beli masyarakat.
 Business Highlights
 Other Operating Income
IDR180,000

IDR160,000

IDR140,000
 Reccuring Income of ByProduct (75%)
Others Income
22% Member Registra-
tion Fee IDR120,000
30%
IDR100,000  Member
Sponsor Income
13%
IDR80,000
 Sponsor
Service Income
4% IDR60,000
 Comission
IDR40,000
Comission Fee
13%
Rent & Main-
tenance In-
 Rent & Maintenance
Laba Selisih Kurs IDR20,000
4% come
15%  Service
IDR-
Other Operating Income 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021

FY 2021 : Rp 138.959,00 Member Registration Fee

Comission Fee
Service Income
Sponsor Income
Rent & Maintenance Income
Others Income
Laba Selisih Kurs

Mio

300
 Inventory Turnover 300

259
 Inventory Turnover Perusahaan
250 242 239 250
223 225
217
228 57
59
memburuk ditahun 2020 hingga 2021.
53
207
201
200 39 200 perusahaan membutuhkan 259 hari untuk

150
30
150
menjual barang dagangannya untuk
135 26
27
24 mendapatkan omzet Rp 6,67 T
20 208 216
100 197 100
82 176
16
144
53 129
9 110 117
50 3 95 50
76
45 53

0 0
2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021

Gerai Ace Hardware (Toko) Toys Kingdom (Toko) INVENTORY Turnover

 Business Highlights
 Capital Efficiency  Marginability
1.80 16% GPM OPM PRE TAX INCOME OWNERS MARGIN
1.67 1.68
14%
1.60 1.57
1.54 13% 14%
13% 13%
13% 1.45 13%
1.37 12% 12% 1.36 1.38 1.39
1.40 1.34
12% 1.32 1.30 12%
1.29 1.27 1.24 1.26 1.26 1.25 11%
1.22
1.17 1.18 1.18
1.20 10%
10% 50%
10% 49% 49%
1.02 48% 48%
1.00 48% 48% 48% 48% 48%
0.91 47%
8%
0.80
43%
6%
0.60

4%
0.40

0.20 2%

0.00 0%
2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021

Equity Multiplier TATO OWNERS MARGIN

27%
27% 27%
26%

24%
24%
24% 23%
23% 22% 23%
22% 22% 22% 22%
22%
21% 17% 18%
17%
20% 17% 17% 17%
17%
19% 19% 16% 16% 16% 16%
18% 16% 16% 16%
16%
18% 18% 15% 15%
17% 17%
14% 14%
13% 13% 13% 13% 13% 13%
13% 13% 12%
12% 12%
14% 14% 12%
11%
13% 10% 10%

10% 10%

ROE ROC ROA

2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
 Outlook Retail Business
%Market Share Ecommerce Sales 2021
 Offline Store vs Online Store
$1,800.00 Ecommerce Revenue by Country: Projected 2022
USD $Billions
$1,600.00 $1,535.00

$1,400.00 Rank 4
$1,200.00

$1,000.00
$875.00

$800.00

$600.00

$400.00

$241.00
$200.00 $148.00 $143.00 $118.00 $97.00 $96.00
$59.00 $59.00
$-
China U.S Japan German U.K South Korea India France Indonesia Canada

$180.00 Indonesia Retail Market Value

Furniture &
USD $Billions
$160.00
Appliances
14% $140.00

Toys & Hobbies Fashion $120.00

16% 31%
$100.00

$80.00

$60.00

Food & Personal $40.00 20%

Care Electronic &
16% Media
Indonesia Ecommerce Revenue
23%
$20.00
2%
Segment by Product in 2021 $-
2016 2020

Ecommerce Sales Other Retail Sales