DFI Retail Group Holdings Limited 2024 Preliminary Announcement of Results

Highlights

• 30% growth in hidden income to US$ 201 million
• Health and Beauty equipped a gentle effectivity
• Convenience noticed strong income growth due to useful merchandise combine
• Food income enhanced, pushed by appreciable Singapore Food income recuperation
• Portfolio simplification proceeded higher with Yonghui and Hero Supermarket divestments
• Net money cash placement attained in February 2025 with conclusion of Yonghui sale
• Final reward individuals cents 7.00 per share

“Effective strategy execution led to strong underlying profit growth in 2024, despite a challenging retail environment. We aim to remain relevant to consumers and to increase market share further, by evolving our offering through leveraging data and expanding our omnichannel presence. We are well-positioned for sustainable growth and increased shareholder returns over the mid-term.”

John Witt
Chairman

INITIAL STATEMENT OF OUTCOMES
FOR THE YEAR FINISHED 31 DECEMBER 20 24

EFFICIENCY
I enjoyment of to report that DFI Retail Group (‘ DFI’ or the Group) equipped a considerably enhanced underlying effectivity and a very good partial recuperation in result in 2024, despite a tough retail setting. For the entire yr, underlying income attributable to traders gotten to US$ 201 million, a 30% rise from the earlier yr.

Our various profile and environment friendly useful implementation allowed us to acquire market share all through important corporations, additionally as we handled adjustments in buyer habits and macroeconomic headwinds. Profit growth was pushed by higher income in Food and Convenience, sustained by growth in digital networks. We are sure that the Group’s brand-new approach will definitely drive extra income growth within the coming years, and are particularly constructive regarding the growth potential prospects for our Health and Beauty service, which stands for 55% of the Group’s general working income. We moreover see strong growth potentialities in our Convenience service. Our varied different corporations stay to come across obstacles, nonetheless we’re sure within the capability of DFI’s aged administration group to browse non permanent unpredictabilities, progress the profile and purchase reinforcing our core corporations to drive lasting growth in investor price.

The Board suggests a final reward for 2024 individuals cents 7.00 per share (2023 final reward: United States cents 5.00).

TACTICAL EMPHASIZES
Under the certified administration of our Group Chief Executive, Scott Price, we’ve got really made appreciable strides in executing our tactical construction, which centres round 3 core columns:

Customer First
Across our service, we’ve got a steady dedication to putting our shoppers initially, and we’ve got really made appreciable development to much better provide them over the earlier yr. The yuu Rewards dedication program stays to boost, with a major rise in individuals and the enhancement of quite a lot of extra companions. We have really moreover began using our unique shopper data to enhance our merchandise selection and overhaul our Own Brand and digital methods. We are driving an additional clear and joint technique to our preparations with suppliers, leading to a much better consequence for shoppers. As nicely as much better providing our shoppers, these initiatives intend to bolster market share growth and increase margins all through our corporations.

People Led
We have really improved our organisation framework over the earlier yr. Our brand-new aged administration group, with its deep market know-how, shares a imaginative and prescient for tactical growth and useful high quality. Key consultations all through enterprise have really enhanced our potential to drive these efforts onward, and we’ve got really decreased intervals and layers inside the organisation to boost procedures and speed up decision-making. Diversity all through our service has really moreover enhanced dramatically.

Shareholder Driven
In positioning with our tactical and assets allotment issues, we remained to streamline the Group’s profile and unloaded our Hero Supermarket service and monetary funding inYonghui Superstores

Following the disposal of Hero Supermarket, the Guardian and IKEA corporations will definitely be our emphasis in Indonesia and we’re sure within the lasting potential prospects for these 2 corporations to spice up market share because the Indonesian market expands. These disposals allow us to reinvest in our subsidiaries’ growth, deleverage our annual report and increase general investor returns.

Sustainability continues to be on high of our schedule, and we’re working collectively very carefully with our stakeholders and establishing enthusiastic targets all through enterprise. There was strong development in 2024 versus the Group’s sustainability approach in areas consisting of discharges lower and waste diversion. Our initiatives had been acknowledged in renovations in our ESG scores, consisting of a substantial enhancement within the Group’s S&PGlobal Corporate Sustainability Assessment We will definitely stay to promote and drive lasting service methods in our end-to-end price chain.

ADMINISTRATION AND INDIVIDUALS
The Board and its Committees, and aged administration group, with one another play an important responsibility in supplying versus our issues. The environment friendly implementation of our approach relies upon upon glorious high quality dialogue across the convention room desk, with strong funds from allDirectors

There have really been quite a lot of appreciable Board and govt administration modifications as a result of the start of 2024:

– In July, I prospered Ben Keswick asChairman On a part of the Board, I need to reveal our appreciation to Ben for his 11 years of answer asChairman

– I moreover need to say because of Adam Keswick for his cost to the Board and Nominations Committee as he ideas down.

– We invited Elaine Chang to the Board as an Independent Non-Executive Director and Graham Baker as a Non-Executive Director Elaine has thirty years of administration expertise all through markets equivalent to semiconductors, digital internet content material, ecommerce, cloud laptop and skilled system, and her know-how in leveraging trendy know-how to drive growth will considerably revenue theGroup

– Christian Nothhaft was assigned as a participant of the Remuneration andNominations Committees

– Tom van der Lee took management of as Group Chief Financial Officer fromClem Constantine We say because of Clem for his appreciable cost, significantly all through the pandemic and in reinforcing the Group’s financial placement. Tom, that signed up with DFI in 2016, brings a riches of expertise from his quite a few aged financial duties inside the organisation.

– Sean Ward prospered Jonathan Lloyd as our Company Secretary in December 2024. I intend to say because of Jonathan for his years of valued answer.

POTENTIAL CUSTOMERS
We are happy by the Group’s strong hidden income growth in 2024, despite a tough retail background, supplying motivating very early help for our brand-new approach. We goal to settle our placement in markets equivalent to Hong Kong the place we’ve got strong corporations, whereas at the very same time intending to achieve lasting growth as we broaden important corporations equivalent to Health and Beauty andConvenience

By advancing our choices through data-driven understandings and growing our omnichannel existence, we will definitely keep acceptable to prospects and proceed recording market share. Our deleveraged annual report and tactical efforts place us nicely for lasting growth and raised investor returns within the years to seek out.

I must equivalent to to disclose my gratitude to our traders, our valued companions and to the larger neighborhood in your ongoing help. Most of all, many thanks must most definitely to our workers member, which might be important to our success, for his or her exceptional job and unwavering dedication all through the earlier yr, despite robust market issues.

John Witt
Chairman

TEAM PRESIDENT’S TESTIMONIAL

INTRO
As I assess my very first full yr as DFI’s Group Chief Executive, I’m exceptionally happy with the appreciable development we’ve got really made implementing abreast to our tactical construction: Customer First, People Led,Shareholder Driven

Despite the robust macroeconomic background, we confirmed sturdiness in our service effectivity, reporting hidden income attributable to traders of US$ 201 million in 2024, up 30% year-on-year. During the yr, we launched the divestment of our minority danger in Yonghui, a purchase order that strains up with our tactical and assets allotment construction and permits us to reinvest sooner or later growth of our subsidiary corporations. While our reported outcomes had been affected by one-off merchandise, consisting of affordable price loss, issues of fairness charge of curiosity and an excellent fame, we’ve got really remained to dramatically deleverage our annual report with an web money cash placement complying with the conclusion of the Yonghui buy in February 2025.

As we head proper into the brand-new fiscal yr, we keep laser focused on performing our tactical issues to drive earnings growth and increase earnings. Our 2025 financial recommendation of US$ 230 million to US$ 270 million hidden income attributable to traders, reveals our self-confidence in additional construction on our vitality and supplying larger price for our stakeholders.

TACTICAL STRUCTURE– SECRET DEVELOPMENT
We created our tactical construction of Customer First, People Led, Shareholder Driven within the 2nd fifty % of 2023 to guide the Group’s assets allotment issues and growth methods over the approaching years. I’m each joyful and happy with the development made by the group over the earlier twelve month in implementing on this construction.

Customer First
I stay to see price unlock all through our distinctively various corporations all throughAsia We are joyful to supply numerous shoppers in quite a few types and banners with virtually 11,000 electrical shops all through 13 markets inAsia What stands aside is our recurring dedication to putting our shoppers initially and providing with enthusiasm and remedy. Our perform has really always change into a part of that we’re. During the yr, we launched our DFI perform to precise it in a way that joins our organisation, which is to Sustainably Serve Asia for Generations withEveryday Moments This declaration emphasizes our dedication to fulfilling the day-to-day necessities of our shoppers all through Asia, whereas stressing their passions in lasting choices.

Aligned with our perform, we’ve got really made appreciable development in quite a lot of areas to a lot better provide our shoppers over the earlier yr.

yuu Rewards
Our yuu Rewards union dedication program stays to boost. In our dwelling market of Hong Kong, general individuals have really gotten to five.3 million with over 3 million common month-to-month energetic individuals. The energetic use acquisitions all through all our types, eating institutions and companions develops appreciable amount of distinct data understandings. In 2024, the yuu Rewards program in Hong Kong included quite a lot of added companions consisting of Starbucks and FWDInsurance Our individuals have really concerned all through a spread of redemption supplies that combine brand-new touring, enjoyment and consuming decisions, driving improved shopper interplay.

In Singapore, the yuu Rewards program has really expanded to over 1.8 million individuals. Quite a lot of brand-new companions signed up with this system all year long consisting of Suntec City andSingapore Airlines

Improving selection
We are at the moment leveraging our vast yuu Rewards shopper data to spice up selection in our retailers. At Wellcome, we’ve got really leveraged our unique data and revolutionary data analytics capacities to implement a reset of 14 classifications in retailers. The enhanced selection has really seen actually motivating first outcomes with uplifts in each gross sales and gross earnings. We are at the moment moreover leveraging the understandings from Wellcome to maintain selection optimization for our Health and Beauty and Convenience corporations all through Hong Kong andSingapore

Improving distributor partnership
We are beginning to much better reap the benefits of our data to maintain improved distributor partnership. By creating an additional clear and joint technique to preparations with suppliers, we’re interacting to drive market growth and a much better consequence for shoppers.

Own Brand
We have reset our Own Brand approach to much better line up with shopper necessities whereas supplying extra highly effective margins for our service. By optimizing our merchandise array, revamping product packaging for larger shopper appeal and growing cross-selling potentialities all through our types, we’ve got really made vital renovations in margin and gross sales effectivity, that features a higher than 300bps rise in our Food Own Brand margin and close to a 40% rise in gross sales effectivity contrasted to 2023. Following the success of our reset of the Own Brand profile all through our Food service, we’ve got really integrated the Health and Beauty Own Brand selection proper into this facility of high quality to duplicate the very same success in Health and Beauty as we reset its unique tag approach.

Digital
Following our digital approach reset in September 2023, shoppers are at the moment capable of entry our retail profile through a broader sequence of digital possessions consisting of purposes, websites and third-party techniques. Our elevated omnichannel existence consists of Wellcome’s quick-commerce collaboration with foodpanda, a brand-new 7-Eleven software with round 137,000 common month-to-month energetic people and 30,000 on a regular basis energetic people in Hong Kong since December 2024. Including a brand-new Mannings Hong Kong software and Guardian Singapore software, we’ve got really launched higher than 20 brand-new networks in 2024 all through purposes, websites and third-party techniques. Our enhanced digital proposal was underpinned by a 31% growth in ecommerce order amount with strong earnings turn-around.

Retail Media
DFI launched our very personal Retail Media community within the very first quarter of 2024. Initial effectivity has really been motivating, with higher than 100 focused promoting initiatives supplied in a lot lower than a yr as a result of the launch, sustained by strong gross sales velocity within the 2nd fifty %. We have really partnered with main suppliers equivalent to Procter & & Gamble, Unilever, Coca- Cola, Nestl é andReckittImportantly, the integrated on-line and offline promoting and advertising and marketing proposal for Retail Media has really sustained the improved Return on Ad Spend for our distributor companions. We stay within the very early days of a presumably appreciable useful resource of income to purchase enterprise.

People Led
In positioning with our tactical construction, we improved our organisation framework within the 2nd fifty % of 2023 by relocating duty to a format framework, thus boosting dexterity whereas lowering overhanging bills. Throughout 2024, we’ve got really been focused on deeply putting in our worths, underpinned by our perform declaration all through theGroup We have really decreased intervals and layers inside the organisation to boost procedures and speed up selection manufacturing. Diversity depiction all through types has really been dramatically enhanced to ensure neighborhood relevance of decision-making to shoppers. We have really enhanced our administration sequence preparation and development with a meaningfully enhanced workers member interplay score, sustained by a brand-new reward framework for aged administration that strains up with investor passions, primarily based upon general investor return and repair effectivity targets.

Shareholder Driven
Our tactical construction has really been created with the important thing goal of boosting investor returns. We have really come near assets allotment in a self-displined approach, each from a capex and functioning assets administration viewpoint. Over this system of the yr, we carried out the divestment of quite a lot of company-owned properties, which has really sustained a US$ 150 million lower in web monetary obligation on the finish of 2024.

Concurrently, the Group stays to implement M&A purchases in a approach that’s accretive to return on assets and general investor return primarily based upon a tactical testimonial of our corporations in 2024. In June 2024, the Group completed the divestment of the Hero Supermarket service inIndonesia Post- conclusion, DFI’s procedures in Indonesia has really utterly rotated to the Guardian and IKEA corporations. In September 2024, the Group launched the divestment of its complete danger in Yonghui Superstores Co.,Ltd This buy was in the end completed in February 2025. The Group stays in an web money cash placement complying with the conclusion of the Yonghui buy.

2024 EFFICIENCY
The Group reported general earnings from subsidiaries in 2024 of US$ 8.9 billion, down 3% year-on-year. However, leaving out the impact of a substantial cigarette tax obligation rise in Hong Kong, the divestment of our Malaysia Food service in 2023 and Hero Supermarket process in Indonesia, operating earnings was primarily safe. This extensively stands for market share features in all types aside from IKEA.

Total earnings for the Group, consisting of 100% of companions and joint endeavors, was US$ 24.9 billion, down 6% contrasted to 2023, primarily due to lower gross sales atYonghui Total hidden income attributable to traders was US$ 201 million for the yr, up 30% year-on-year.

The Group reported subsidiaries underlying income attributable to traders of US$ 158 million for the entire yr, 42% higher than the earlier yr. This was pushed by appreciable income recuperation in Singapore Food and useful merchandise combine change within the course of non-cigarette classifications in our Convenience service, partly balanced out by lowered cost from Home Furnishings as an final result of weak residential or industrial property market activity and magnifying opponents.

The Group’s share of hidden generate income from companions was US$ 43 million, down 2% year-on-year. Lower cost from Maxim’s due to weak mooncake gross sales and eating institution effectivity within the Chinese landmass was partly balanced out by decreased losses from Yonghui and a 15% income growth atRobinsons Retail

The Group’s reported outcomes for the yr had been affected by non-trading losses attributable to traders of US$ 445 million. This was largely due to lack of US$ 114 million associated to the divestment of Yonghui, a US$ 231 million issues of charge of curiosity in Robinsons Retail and US$ 133 million an excellent fame issues of Macau and Cambodia Food corporations. These losses had been partly balanced out by features from divestment of Singapore residential or industrial property possessions and the Group’s share of one-off features from the Bank of the Philippine Islands (BPI)-Robinsons Bank merging. Despite the massive non-trading losses reported, the Group is at the moment in an web money cash placement complying with the conclusion of Yonghui buy in February 2025.

The Group reported operating capital after lease settlements of US$ 331 million, 21% lower than the earlier yr, usually due to damaging movement in functioning assets year-end timing distinction, partly balanced out by underlying working income growth. Operating capital after lease settlements and typical capital funding was US$ 158 million, down 29% year-on-year.

ECOLOGICAL, SOCIAL, ADMINISTRATION (ESG)
As a number one Asian vendor, we acknowledge our distinct chance to promote and drive lasting service methods in response to the selection of our shoppers. By putting our ESG dedication as a core column of our Group Strategy, we’ve got really made vital development in quite a few efforts, consisting of discharges lower and waste diversion. Our initiatives are proven in a substantial enhancement within the S&P Global Corporate Sustainability Assessment, with our score boosting to 49 as at 8 January 2025, placing DFI within the 84 ^th percentile inside the Food and Staples Retailing market, up from the 47 ^th percentile in 2023.

Our strong dedication to ESG is highlighted by our goal to chop in half Scope 1 & & 2 greenhouse fuel (GHG) discharges by 2030 and attain net-zero by 2050. Throughout 2024, we’ve got really made appreciable monetary investments in updating and remodeling our present refrigeration techniques to further eco-friendly decisions. We effectively completed assessments of fuel and ultra-low worldwide warming potential gases as cooling agent decisions for our grocery retailer. Following an intensive analysis of our Scope 3 discharges, we’ve got really decided important merchandise classifications and smart decarbonisation potentialities inside our provide chain. For occasion, our Low Carbon Rice Project, releasing in Thailand this yr, intends to drive decarbonisation by promoting low-carbon farming methods amongst neighborhood farmers, finishing up space monitoring and monitoring to gauge carbon exhaust decreases. We have really made noteworthy development in boosting our waste diversion and are repeatedly trying out ingenious means to advertise a shift within the course of a regional spherical financial state of affairs. Wellcome has really partnered with a Hong Kong- primarily based reusing heart to rework trimmed fat proper into biodiesel for powering very important turbines.

While we’re nonetheless early within the journey, these efforts collectively present our initiatives and dedication to providing neighborhoods lasting and finances pleasant gadgets, sustaining the earth and sourcing sensibly whereas fulfilling the return targets of our traders.

COMPANY TESTIMONIAL

HEALTH AND WELLNESS AND APPEAL
Sales for the Health and Beauty division might be present in somewhat higher than the earlier yr at US$ 2.5 billion, with like-for-like (LFL) gross sales persevering with to be extensively safe. Underlying working income was US$ 211 million for the yr, somewhat listed beneath 2023.

Hong Kong reported strong LFL gross sales effectivity within the very first quarter, which after that decreased within the 2nd and third quarters due to a strong related period in 2023 when utilization coupons had been paid out in April and July 2023. Sales vitality enhanced within the 4th quarter with Mannings remaining to acquire market share. Profit for the yr raised 6%, attributable to gross margin enhancement and self-displined expense management, despite a 2% lower in full-year LFL gross sales. Guided by a customer-first proposal, the Pharmacare program received to a substantial landmark as a result of its launch in 2023. In collaboration with Bupa, amongst Hong Kong’s vital scientific insurance coverage suppliers, the Mannings group higher elevated Pharmacare proper into its community of higher than 150,000 individuals. Leveraging Mannings’ placement as the largest pharmacologist community, this system supplies complimentary examinations and medication for a sequence of common illness. The Mannings group remained to spice up in-store expertise with the launch of the Health Pod at our International Finance Centre entrance runner store inHong Kong This ingenious answer supplies an AI well being evaluation that determines over 20 metrics, complied with by private examinations and merchandise ideas. Initial outcomes have really been interesting, with shoppers making use of the answer revealing a basket dimension 3 occasions higher than customary. In enhancement, the group moreover launched a brand-new Mannings software in December to increase its digital impression. LFL gross sales of Mannings China decreased as enterprise rotates removed from offline retailers to on-line networks which incorporates the closure of most of its offline community.

Guardian in South East Asia reported US$ 857 million in gross sales, displaying a 5% year-on-year rise, pushed by growth in basket dimension all through all important markets. Indonesia, significantly, noticed a 17% LFL gross sales growth sustained by raised procuring heart web site visitors and strong implementation of promoting initiatives. Strong income growth was reported all through plenty of important markets, underpinned by gross margin growth and operating reap the benefits of. In Singapore, strong industrial implementation and an excellent merchandise combine added to gross margin growth, with well being care gadgets making up higher than 60% of gross sales.

BENEFIT
Total Convenience gross sales had been US$ 2.4 billion, standing for a lower of three% year-on-year. LFL gross sales had been 5% behind the earlier yr, affected by a lower in lower-margin cigarette portions complying with tax obligation boosts in Hong Kong on the finish of February 2024. Excluding cigarette gross sales, common Convenience LFL gross sales had been up 2%, with ongoing market share acquire all through markets. Convenience underlying working income was US$ 102 million for the yr, a lift of 17% contrasted to 2023. Hong Kong working income has really expanded 10% year-on-year, pushed by an excellent combine change within the course of higher-margin classifications, with ready-to-eat (RTE) accountancy for 16% of general gross sales for the entire yr. The not too long ago launched 7-Eleven software supplies inexpensive RTE packages, pre-order options, and digital stamps for IP antiques to drive acquisition regularity and shopper dedication.

7-Eleven South China and Singapore reported primarily safe LFL gross sales sustained by sturdy growth in RTE, which represented 40% and 23% of gross sales, particularly. Favourable margin impact from merchandise combine change and recurring expense management added to vital income growth in each markets. 7-Eleven remained to increase its store community within the South China space with 103 web openings all year long. The Group intends to drive extra community growth primarily through a capex-light franchise enterprise model.

FOOD
Reported gross sales for the Food division in 2024 had been US$ 3.1 billion, down 5% year-on-year. Excluding the impact of the divestment of the Malaysia Food service in 2023 and Hero Supermarket process in Indonesia, earnings for the division was 2% lower than the earlier yr. Underlying working income for the division was US$ 58 million for the yr, up from US$ 45 million in 2023.

While raised outgoing touring of Hong Kong locals to the Chinese landmass has really impacted meals utilization for many of 2024, the circumstance has really began to normalise with general retail gross sales of grocery shops in Hong Kong going again to growth within the 4th quarter of 2024. Wellcome noticed boosting gross sales vitality within the 4th quarter with full-year LFL gross sales partially listed beneath these of the earlier yr despite robust buying and selling issues. Strong in-store implementation and environment friendly promoting initiatives have really sustained common market share acquire all year long. The Wellcome group has really enhanced its omnichannel existence through the wellcome.com.hk website, its software and a quick-commerce collaboration with foodpanda, including to a higher than 20% gross sales growth usually Food ecommerce with dramatically enhanced earnings.

South East Asia Food gross sales effectivity was negatively impacted by excessive opponents and gentle buyer perception due to cost-of-living stress. Improved gross sales combine, environment friendly expense management and optimization of the store profile led to a major income recuperation, with Singapore Food reworking profitable within the 4th quarter of 2024. The Group stays to supply the Singapore market with varied ideas through its quite a few model names.

In June 2024, the Group completed the divestment of its Hero Supermarket service inIndonesia Post- conclusion, DFI’s procedures in Indonesia have really utterly rotated to the Guardian and IKEA corporations.

FURNITURE
IKEA reported gross sales of US$ 701 million, standing for a 12% lower contrasted to the earlier yr. Overall, LFL gross sales decreased by 11% in 2024. Operating income was US$ 16 million, down 13% year-on-year.

IKEA’s service effectivity has really been hindered by decreased shopper web site visitors due to weak residential or industrial property market activity all through areas. While IKEA Taiwan confirmed cherished one sturdiness, gross sales in Hong Kong and Indonesia had been impacted by magnified opponents and basket combine modification as shoppers decreased acquisitions of high-priced merchandise.

In response to the robust gross sales setting, the IKEA group stays to execute strong expense management determines all through our markets. The IKEA Hong Kong service is rotating within the course of an much more value-driven omnichannel proposal to tackle Chinese landmass digital techniques. Shopping infiltration has really at the moment exceeded 10% all through all markets. The IKEA Indonesia group continues to be focused on driving gross sales through boosting store commerciality, elevating neighborhood sourcing, and embracing an additional environment friendly promoting approach to spice up neighborhood relevance. Implementation of cost-saving procedures added to tightening losses contrasted to the earlier yr.

DINING ESTABLISHMENTS
The Group’s share of Maxim’s underlying earnings was US$ 66 million in 2024, beneath US$ 79 million within the earlier yr, primarily due to lowered mooncake gross sales and weak eating institution effectivity on the Chinese landmass. Maxim’s remained to broaden its existence in South East Asia, together with 76 web brand-new retailers all year long, usually in Thailand andVietnam Benefiting from a various profile, eating institution gross sales effectivity in Hong Kong stayed resistant despite a lift in outgoing touring on weekend breaks and public holidays.

VARIOUS OTHER ASSOCIATES
The Group’s share of Yonghui’s hidden losses was US$ 33 million for the yr, contrasted to a US$ 36 million share of underlying losses within the earlier yr. Continued macro headwinds and excessive opponents led to lowered LFL gross sales. The lower in losses was underpinned by recurring expense optimization, partly balanced out by a lower in gross margin. The divestment of the Group’s minority danger in Yonghui was completed in February 2025.

Robinsons Retail’s hidden income cost was US$ 17 million, up 15% year-on-year. Robinsons Retail reported lowered single-digit growth in LFL and sturdy growth in working income pushed by the Food and Drugstore sections. Reported income cost expanded close to 90% year-on-year, sustained by one-off features complying with the BPI-Robinsons Bank merging in very early 2024.

EXPECTATION
We have really browsed 2024 with resistant service effectivity and proceeded market share features for our important service techniques by proactively adjusting to reworking market issues through a extra highly effective price proposal, elevated omnichannel existence and self-displined expense management. While obstacles keep, we’re fastidiously constructive regarding the overview for 2025. The Group anticipates hidden income attributable to traders to be in between US$ 230 million and US$ 270 million in 2025, sustained by a pure earnings growth of round 2%.

The Group will definitely stay to implement versus its tactical construction. By boosting the neighborhood relevance of our merchandise choices, rising monetisation of our digital possessions, and implementing value-enhancing M&A purchases, we’ve got really established sturdy buildings in 2024, and we keep sure in driving continuous, profitable growth and investor returns within the years prematurely.

Scott Price
Group Chief Executive
Hashtag: #DFIRetailGroup #Mannings #Guardian # 7-Eleven #Wellcome #MarketPlace #ColdStorage #Giant #IKEA #yuuRewards #Maxim’s #RobinsonsRetail

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DFI Retail Group

DFI Retail Group is a number one Asian vendor. At 31 December 2024, the Group, its companions and joint endeavors ran over 10,700 electrical shops, of which higher than 5,000 retailers had been run by subsidiaries. The Group, together with companions and joint endeavors, utilized over 190,000 people, with over 45,000 people utilized by its subsidiaries. The Group had general yearly earnings in 2024 of US$ 24.9 billion and reported earnings of US$ 8.9 billion.

DFI Retail Group is dedicated to supplying prime quality, price and memorable answer to Asian prospects through an enticing retail expertise, sustained by a considerable store community and really efficient provide chains.

The Group (consisting of companions and joint endeavors) runs a profile of broadly identified model names all through 6 important departments. The main model names are:

Health and Beauty

• Mannings on the Chinese landmass, Hong Kong and Macau S.A.R.; Guardian in Brunei, Indonesia, Malaysia, Singapore andVietnam

Convenience

• 7-Eleven in Hong Kong and Macau S.A.R., Singapore andSouthern China

Food

• Wellcome and Market Place in Hong Kong S.A.R.; Cold Storage and Giant in Singapore; Lucky in Cambodia; and Robinsons within thePhilippines

Home Furnishings

• IKEA in Hong Kong and Macau S.A.R., Indonesia andTaiwan

Restaurants

• Hong Kong Maxim’s crew on the Chinese landmass, Hong Kong and Macau S.A.R., Cambodia, Laos, Malaysia, Singapore, Thailand andVietnam

Other Retailing

• Robinsons within the Philippines working outlet retailer, specialised and do it your self retailers.

At the center of its service, DFI Retail Group is pushed by its perform to ‘Sustainably Serve Asia for Generations with Everyday Moments’.

The Group’s mothers and pop agency, DFI Retail Group Holdings Limited, is included in Bermuda and has a major itemizing within the fairness shares (shift) group of the London Stock Exchange, with further listings in Bermuda andSingapore The Group’s corporations are taken care of fromHong Kong DFI Retail Group belongs to theJardine Matheson Group

Investors

Karen Chan

Media
Christine Chung