DFI Retail Group Holdings Limited 2024 Preliminary Announcement of Results

Highlights

• 30% growth in hidden income to US$ 201 million
• Health and Beauty offered a gradual effectivity
• Convenience noticed stable income growth on account of useful merchandise combine
• Food income boosted, pushed by substantial Singapore Food revenues therapeutic
• Portfolio simplification proceeded higher with Yonghui and Hero Supermarket divestments
• Net cash setting attained in February 2025 with conclusion of Yonghui sale
• Final reward folks 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 NEWS OF OUTCOMES
FOR THE YEAR FINISHED 31 DECEMBER 20 24

EFFICIENCY
I enjoyment of to report that DFI Retail Group (‘ DFI’ or the Group) offered a dramatically boosted underlying effectivity and a very good partial therapeutic in result in 2024, despite a troublesome retail environment. For the whole 12 months, underlying income attributable to buyers gotten to US$ 201 million, a 30% enhance from the earlier 12 months.

Our assorted profile and dependable purposeful implementation allowed us to get market share all through important corporations, additionally as we handled adjustments in buyer practices and macroeconomic headwinds. Profit growth was pushed by enhanced income in Food and Convenience, sustained by growth in digital networks. We are sure that the Group’s brand-new technique will definitely drive extra income growth within the coming years, and are particularly hopeful relating to the event leads for our Health and Beauty firm, which stands for 55% of the Group’s full working income. We likewise see stable growth potentialities in our Convenience firm. Our numerous different corporations stay to cope with difficulties, but we’re sure within the capability of DFI’s aged administration group to browse short-term unpredictabilities, advance the profile and buy enhancing our core corporations to drive long-lasting growth in investor price.

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

CRITICAL EMPHASIZES
Under the certified administration of our Group Chief Executive, Scott Price, now we have really made substantial strides in making use of our crucial construction, which centres round 3 core columns:

Customer First
Across our firm, now we have a recurring dedication to putting our customers initially, and now we have really made substantial development to significantly better provide them over the earlier 12 months. The yuu Rewards dedication program stays to strengthen, with a major enhance in individuals and the enhancement of quite a lot of extra companions. We have really likewise began utilizing our unique shopper data to fine-tune our merchandise array and overhaul our Own Brand and digital approaches. We are driving a way more clear and collective technique to our settlements with distributors, leading to a much better finish consequence for customers. As nicely as significantly better providing our customers, these initiatives intend to strengthen market share growth and enhance margins all through our corporations.

People Led
We have really fine-tuned our organisation framework over the earlier 12 months. Our brand-new aged administration group, with its deep market information, shares a imaginative and prescient for crucial growth and purposeful high quality. Key visits all through enterprise have really strengthened our skill to drive these campaigns forward, and now we have really decreased durations and layers inside the organisation to reinforce procedures and quicken decision-making. Diversity all through our firm has really likewise boosted significantly.

Shareholder Driven
In positioning with our crucial and sources allowance prime priorities, we remained to streamline the Group’s profile and unloaded our Hero Supermarket firm 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 long-lasting leads 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 develop full investor returns.

Sustainability stays on prime of our program, and we’re working collectively fastidiously with our stakeholders and establishing enthusiastic targets all through enterprise. There was stable development in 2024 versus the Group’s sustainability technique in areas consisting of exhausts lower and waste diversion. Our initiatives have been recognized in enhancements in our ESG scores, consisting of a considerable renovation within the Group’s S&PGlobal Corporate Sustainability Assessment We will definitely stay to promote and drive lasting firm methods in our end-to-end price chain.

ADMINISTRATION AND INDIVIDUALS
The Board and its Committees, and aged administration group, with one another play a significant obligation in supplying versus our prime priorities. The dependable implementation of our technique depends on wonderful high quality argument across the convention room desk, with stable funds from allDirectors

There have really been quite a lot of substantial 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 want to share our thankfulness to Ben for his 11 years of resolution asChairman

– I likewise need to say because of Adam Keswick for his cost to the Board and Nominations Committee as he suggestions 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 professional system, and her information in leveraging innovation to drive growth will considerably revenue theGroup

– Christian Nothhaft was designated 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 substantial cost, particularly all through the pandemic and in enhancing the Group’s financial setting. Tom, that signed up with DFI in 2016, brings a riches of expertise from his totally different aged financial features 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 resolution.

POTENTIAL CUSTOMERS
We are happy by the Group’s stable hidden income growth in 2024, despite a troublesome retail background, supplying motivating very early help for our brand-new technique. We goal to settle our setting in markets equivalent to Hong Kong the place now we have stable corporations, whereas at the very same time intending to achieve long-lasting growth as we enhance important corporations equivalent to Health and Beauty andConvenience

By advancing our choices with data-driven understandings and broadening our omnichannel visibility, we will definitely keep acceptable to prospects and proceed recording market share. Our deleveraged annual report and important campaigns place us nicely for lasting growth and enhanced investor returns within the years forward.

I need to equivalent to to share my gratitude to our buyers, our valued companions and to the bigger space in your ongoing help. Most of all, many thanks have to almost certainly to our worker, which can be important to our success, for his or her outstanding job and unwavering dedication all through the earlier 12 months, despite robust market issues.

John Witt
Chairman

TEAM PRESIDENT’S EVALUATION

INTRO
As I overview my preliminary full 12 months as DFI’s Group Chief Executive, I’m unbelievably pleased with the substantial development now we have really made implementing abreast to our crucial construction: Customer First, People Led,Shareholder Driven

Despite the robust macroeconomic background, we confirmed sturdiness in our firm effectivity, reporting hidden income attributable to buyers of US$ 201 million in 2024, up 30% year-on-year. During the 12 months, we revealed the divestment of our minority threat in Yonghui, a purchase order that strains up with our crucial and sources allowance construction and permits us to reinvest sooner or later growth of our subsidiary corporations. While our reported outcomes have been influenced by one-off merchandise, consisting of affordable price loss, incapacity of fairness price of curiosity and a great popularity, now we have really remained to significantly deleverage our annual report with an online cash setting adhering to the conclusion of the Yonghui buy in February 2025.

As we head proper into the brand-new fiscal 12 months, we keep laser focused on implementing our crucial prime priorities to drive earnings growth and enhance success. Our 2025 financial recommendation of US$ 230 million to US$ 270 million hidden income attributable to buyers, mirrors our self-confidence in extra construction on our power and supplying greater price for our stakeholders.

CRITICAL STRUCTURE– SECRET DEVELOPMENT
We created our crucial construction of Customer First, People Led, Shareholder Driven within the 2nd fifty p.c of 2023 to guide the Group’s sources allowance prime priorities and growth methods over the approaching years. I’m each delighted and pleased 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 assorted corporations all throughAsia We are honored to supply numerous customers in several layouts and banners with just about 11,000 electrical shops all through 13 markets inAsia What stands out is our steady dedication to putting our customers initially and providing with enthusiasm and therapy. Our goal has really consistently belonged to that we’re. During the 12 months, we launched our DFI goal to verbalize it in such a means that unifies our organisation, which is to Sustainably Serve Asia for Generations withEveryday Moments This declaration emphasizes our dedication to fulfilling the every day calls for of our customers all through Asia, whereas stressing their price of pursuits in lasting providers.

Aligned with our goal, now we have really made substantial development in quite a lot of areas to significantly better provide our customers over the earlier 12 months.

yuu Rewards
Our yuu Rewards union dedication program stays to strengthen. In our residence market of Hong Kong, full individuals have really gotten to five.3 million with over 3 million month-to-month energetic individuals. The energetic use acquisitions all through all our layouts, 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 choice of redemption offers that combine brand-new touring, residence leisure and consuming alternate options, driving improved shopper involvement.

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 array
We are presently leveraging our large yuu Rewards shopper data to reinforce array in our outlets. At Wellcome, now we have really leveraged our unique data and complicated data analytics capacities to implement a reset of 14 teams in outlets. The boosted array has really seen actually motivating first outcomes with uplifts in each gross sales and gross earnings. We are presently likewise leveraging the knowings from Wellcome to maintain array optimization for our Health and Beauty and Convenience corporations all through Hong Kong andSingapore

Improving supplier partnership
We are beginning to significantly better make the most of our data to maintain improved supplier partnership. By creating a way more clear and collective technique to settlements with distributors, we’re interacting to drive market growth and a much better finish consequence for customers.

Own Brand
We have reset our Own Brand technique to significantly better straighten with shopper calls for whereas supplying extra highly effective margins for our firm. By optimizing our merchandise selection, revamping product packaging for greater shopper attract and rising cross-selling potentialities all through our layouts, now we have really made important enhancements in margin and gross sales efficiency, that features a better than 300bps enhance in our Food Own Brand margin and close to a 40% enhance in gross sales efficiency contrasted to 2023. Following the success of our reset of the Own Brand profile all through our Food firm, now we have really integrated the Health and Beauty Own Brand array proper into this facility of high quality to duplicate the very same success in Health and Beauty as we reset its unique tag technique.

Digital
Following our digital technique reset in September 2023, customers are presently in a position to entry our retail profile with a bigger number of digital possessions consisting of functions, websites and third-party techniques. Our broadened omnichannel visibility consists of Wellcome’s quick-commerce collaboration with foodpanda, a brand-new 7-Eleven utility with about 137,000 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 utility and Guardian Singapore utility, now we have really launched better than 20 brand-new networks in 2024 all through functions, websites and third-party techniques. Our strengthened digital advice was underpinned by a 31% growth in ecommerce order amount with stable success turn-around.

Retail Media
DFI launched our very personal Retail Media community within the preliminary quarter of 2024. Initial effectivity has really been motivating, with better than 100 focused promoting and advertising initiatives marketed in a lot lower than a 12 months as a result of the launch, sustained by stable gross sales velocity within the 2nd fifty p.c. We have really partnered with main distributors equivalent to Procter & & Gamble, Unilever, Coca- Cola, Nestl é andReckittImportantly, the integrated on-line and offline promoting and advertising advice for Retail Media has really sustained the boosted Return on Ad Spend for our supplier companions. We stay within the very early days of a presumably substantial useful resource of income to buy enterprise.

People Led
In positioning with our crucial construction, we fine-tuned our organisation framework within the 2nd fifty p.c of 2023 by relocating accountability to a method framework, subsequently enhancing dexterity whereas reducing above bills. Throughout 2024, now we have really been focused on deeply putting in our worths, underpinned by our goal declaration all through theGroup We have really decreased durations and layers inside the organisation to reinforce procedures and quicken alternative manufacturing. Diversity depiction all through layouts has really been significantly boosted to make sure neighborhood significance of decision-making to customers. We have really strengthened our administration sequence preparation and development with a meaningfully boosted workers member involvement ranking, sustained by a brand-new motivation framework for aged monitoring that strains up with investor price of pursuits, based mostly upon full investor return and firm effectivity targets.

Shareholder Driven
Our crucial construction has really been created with the important thing goal of enhancing investor returns. We have really come near sources allowance in a regimented trend, each from a capex and functioning sources monitoring viewpoint. Over this system of the 12 months, we carried out the divestment of quite a lot of company-owned residential properties, which has really sustained a US$ 150 million lower in internet monetary obligation on the finish of 2024.

Concurrently, the Group stays to implement M&A purchases in a trend that’s accretive to return on sources and full investor return based mostly upon a tactical analysis of our corporations in 2024. In June 2024, the Group completed the divestment of the Hero Supermarket firm inIndonesia Post- conclusion, DFI’s procedures in Indonesia has really completely rotated to the Guardian and IKEA corporations. In September 2024, the Group revealed the divestment of its entire threat in Yonghui Superstores Co.,Ltd This buy was finally completed in February 2025. The Group stays in an online cash setting adhering to the conclusion of the Yonghui buy.

2024 EFFICIENCY
The Group reported full earnings from subsidiaries in 2024 of US$ 8.9 billion, down 3% year-on-year. However, leaving out the affect of a considerable cigarette tax obligation enhance in Hong Kong, the divestment of our Malaysia Food firm in 2023 and Hero Supermarket process in Indonesia, working earnings was primarily safe. This extensively stands for market share good points in all layouts aside from IKEA.

Total earnings for the Group, consisting of 100% of associates and joint endeavors, was US$ 24.9 billion, down 6% contrasted to 2023, primarily on account of lower gross sales atYonghui Total hidden income attributable to buyers was US$ 201 million for the 12 months, up 30% year-on-year.

The Group reported subsidiaries underlying income attributable to buyers of US$ 158 million for the whole 12 months, 42% greater than the earlier 12 months. This was pushed by substantial revenues therapeutic in Singapore Food and useful merchandise combine change within the path of non-cigarette teams in our Convenience firm, partly balanced out by lowered cost from Home Furnishings as an consequence of weak constructing market job and escalating rivals.

The Group’s share of hidden profit from associates was US$ 43 million, down 2% year-on-year. Lower cost from Maxim’s on account of 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 12 months have been influenced by non-trading losses attributable to buyers of US$ 445 million. This was primarily on account of lack of US$ 114 million linked with the divestment of Yonghui, a US$ 231 million incapacity of price of curiosity in Robinsons Retail and US$ 133 million a great popularity incapacity of Macau and Cambodia Food corporations. These losses have been partly balanced out by good points from divestment of Singapore constructing possessions and the Group’s share of one-off good points from the Bank of the Philippine Islands (BPI)-Robinsons Bank merging. Despite the massive non-trading losses reported, the Group is presently in an online cash setting adhering to the conclusion of Yonghui buy in February 2025.

The Group reported working capital after lease settlements of US$ 331 million, 21% lower than the earlier 12 months, largely on account of damaging movement in functioning sources 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 service provider, we acknowledge our distinct risk to promote and drive lasting firm methods in response to the selection of our customers. By putting our ESG dedication as a core column of our Group Strategy, now we have really made important development in several campaigns, consisting of exhausts lower and waste diversion. Our initiatives are mirrored in a considerable renovation within the S&P Global Corporate Sustainability Assessment, with our ranking enhancing 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 stable dedication to ESG is highlighted by our goal to chop in half Scope 1 & & 2 greenhouse fuel (GHG) exhausts by 2030 and attain net-zero by 2050. Throughout 2024, now we have really made substantial monetary investments in updating and remodeling our current refrigeration techniques to far more eco-friendly alternate options. We successfully completed checks of fuel and ultra-low worldwide warming doable gases as cooling agent choices for our grocery retailer. Following an in depth analysis of our Scope 3 exhausts, now we have really acknowledged important merchandise teams and affordable decarbonisation potentialities inside our provide chain. For occasion, our Low Carbon Rice Project, releasing in Thailand this 12 months, intends to drive decarbonisation by promoting low-carbon farming methods amongst neighborhood farmers, executing space surveillance and monitoring to gauge carbon exhaust decreases. We have really made important development in enhancing our waste diversion and are often discovering cutting-edge strategies to advertise a change within the path of a regional spherical financial scenario. Wellcome has really partnered with a Hong Kong- based mostly reusing heart to rework trimmed fat proper into biodiesel for powering essential mills.

While we’re nonetheless early within the journey, these campaigns collectively present our initiatives and dedication to providing areas lasting and economical objects, sustaining the world and sourcing correctly whereas fulfilling the return functions of our buyers.

COMPANY EVALUATION

HEALTH AND WELLNESS AND CHARM
Sales for the Health and Beauty division was out there in considerably greater than the earlier 12 months at US$ 2.5 billion, with like-for-like (LFL) gross sales staying extensively safe. Underlying working income was US$ 211 million for the 12 months, considerably listed beneath 2023.

Hong Kong reported stable LFL gross sales effectivity within the preliminary quarter, which after that decreased within the 2nd and third quarters on account of a stable equal length in 2023 when consumption coupons have been paid out in April and July 2023. Sales power boosted within the 4th quarter with Mannings remaining to get market share. Profit for the 12 months enhanced 6%, attributable to gross margin renovation and self-displined worth management, despite a 2% lower in full-year LFL gross sales. Guided by a customer-first advice, the Pharmacare program bought to a considerable turning level as a result of its launch in 2023. In collaboration with Bupa, amongst Hong Kong’s important scientific insurance coverage suppliers, the Mannings group higher broadened Pharmacare proper into its community of better than 150,000 individuals. Leveraging Mannings’ setting as the largest pharmacologist community, this system offers completely free appointments and drugs for a collection of normal illness. The Mannings group remained to enhance in-store expertise with the launch of the Health Pod at our International Finance Centre entrance runner store inHong Kong This cutting-edge resolution offers an AI well being evaluation that determines over 20 metrics, complied with by private appointments and merchandise referrals. Initial outcomes have really been interesting, with customers making use of the answer revealing a basket dimension 3 occasions greater than commonplace. In enhancement, the group likewise launched a brand-new Mannings utility in December to develop its digital impression. LFL gross sales of Mannings China decreased as enterprise rotates removed from offline outlets 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 enhance, pushed by growth in basket dimension all through all important markets. Indonesia, significantly, noticed a 17% LFL gross sales growth sustained by enhanced buying heart web site site visitors and stable implementation of selling initiatives. Strong income growth was reported all through a whole lot of important markets, underpinned by gross margin progress and working make the most of. In Singapore, stable industrial implementation and a great merchandise combine added to gross margin progress, with well being care objects making up better than 60% of gross sales.

EASE
Total Convenience gross sales have been US$ 2.4 billion, standing for a lower of three% year-on-year. LFL gross sales have been 5% behind the earlier 12 months, influenced by a lower in lower-margin cigarette portions adhering to tax obligation boosts in Hong Kong on the finish of February 2024. Excluding cigarette gross sales, complete Convenience LFL gross sales have been up 2%, with ongoing market share achieve all through markets. Convenience underlying working income was US$ 102 million for the 12 months, an increase of 17% contrasted to 2023. Hong Kong working income has really expanded 10% year-on-year, pushed by a great combine change within the path of higher-margin teams, with ready-to-eat (RTE) bookkeeping for 16% of full gross sales for the whole 12 months. The lately launched 7-Eleven utility offers lowered 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 made up 40% and 23% of gross sales, particularly. Favourable margin affect from merchandise combine change and steady worth management added to important income growth in each markets. 7-Eleven remained to develop its store community within the South China space with 103 internet openings all year long. The Group intends to drive extra community progress largely with a capex-light franchise enterprise design.

FOOD
Reported gross sales for the Food division in 2024 have been US$ 3.1 billion, down 5% year-on-year. Excluding the affect of the divestment of the Malaysia Food firm in 2023 and Hero Supermarket process in Indonesia, earnings for the division was 2% lower than the earlier 12 months. Underlying working income for the division was US$ 58 million for the 12 months, up from US$ 45 million in 2023.

While enhanced outgoing touring of Hong Kong residents to the Chinese landmass has really impacted meals consumption for many of 2024, the state of affairs has really began to normalise with full retail gross sales of grocery shops in Hong Kong going again to growth within the 4th quarter of 2024. Wellcome noticed enhancing gross sales power within the 4th quarter with full-year LFL gross sales partially listed beneath these of the earlier 12 months despite robust buying and selling issues. Strong in-store implementation and dependable advertising initiatives have really sustained fixed market share achieve all year long. The Wellcome group has really strengthened its omnichannel visibility with the wellcome.com.hk website, its utility and a quick-commerce collaboration with foodpanda, including to a better than 20% gross sales growth in complete Food ecommerce with significantly boosted success.

South East Asia Food gross sales effectivity was negatively impacted by excessive rivals and comfortable buyer perception on account of cost-of-living stress. Improved gross sales combine, dependable worth management and optimization of the store profile resulted in a major revenues therapeutic, with Singapore Food reworking profitable within the 4th quarter of 2024. The Group stays to supply the Singapore market with numerous proposals with its totally different model names.

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

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

IKEA’s firm effectivity has really been interfered with by decreased shopper web site site visitors on account of weak constructing market job all through areas. While IKEA Taiwan confirmed member of the family sturdiness, gross sales in Hong Kong and Indonesia have been impacted by magnified rivals and basket combine modification as customers decreased acquisitions of pricy merchandise.

In response to the robust gross sales environment, the IKEA group stays to hold out stable worth management determines all through our markets. The IKEA Hong Kong firm is rotating within the path of an much more value-driven omnichannel advice to tackle Chinese landmass digital techniques. Shopping infiltration has really presently gone past 10% all through all markets. The IKEA Indonesia group stays focused on driving gross sales with boosting store commerciality, elevating neighborhood sourcing, and embracing a way more dependable promoting and advertising technique to reinforce neighborhood significance. Implementation of cost-saving steps added to tightening losses contrasted to the earlier 12 months.

DINING ESTABLISHMENTS
The Group’s share of Maxim’s underlying earnings was US$ 66 million in 2024, beneath US$ 79 million within the earlier 12 months, primarily on account of lowered mooncake gross sales and weak eating institution effectivity on the Chinese landmass. Maxim’s remained to extend its visibility in South East Asia, together with 76 internet brand-new outlets all year long, largely in Thailand andVietnam Benefiting from a assorted profile, eating institution gross sales effectivity in Hong Kong stayed resistant despite an increase 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 12 months, contrasted to a US$ 36 million share of underlying losses within the earlier 12 months. Continued macro headwinds and excessive rivals resulted in lowered LFL gross sales. The lower in losses was underpinned by steady worth optimization, partly balanced out by a lower in gross margin. The divestment of the Group’s minority threat 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 sectors. Reported income cost expanded close to 90% year-on-year, sustained by one-off good points adhering to the BPI-Robinsons Bank merging in very early 2024.

EXPECTATION
We have really browsed 2024 with resistant firm effectivity and proceeded market share good points for our important firm techniques by proactively adjusting to altering market issues with a extra highly effective price advice, broadened omnichannel visibility and self-displined worth management. While difficulties keep, we’re very fastidiously hopeful relating to the overview for 2025. The Group anticipates hidden income attributable to buyers to be in between US$ 230 million and US$ 270 million in 2025, sustained by a pure earnings growth of about 2%.

The Group will definitely stay to implement versus its crucial construction. By boosting the neighborhood significance of our merchandise choices, rising monetisation of our digital possessions, and implementing value-enhancing M&A purchases, now we have really established robust constructions in 2024, and we keep sure in driving continuous, profitable growth and investor returns within the years upfront.

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

The firm is completely accountable for the online content material of this assertion.

DFI Retail Group

DFI Retail Group is a number one Asian service provider. At 31 December 2024, the Group, its associates and joint endeavors ran over 10,700 electrical shops, of which better than 5,000 outlets have been run by subsidiaries. The Group, together with associates and joint endeavors, used over 190,000 people, with over 45,000 people utilized by its subsidiaries. The Group had full 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 noteworthy resolution to Asian prospects with an enticing retail expertise, sustained by a considerable store community and really dependable provide chains.

The Group (consisting of associates and joint endeavors) runs a profile of extensively recognized 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 workforce on the Chinese landmass, Hong Kong and Macau S.A.R., Cambodia, Laos, Malaysia, Singapore, Thailand andVietnam

Other Retailing

• Robinsons within the Philippines working chain retailer, specialised and do it your self outlets.

At the guts of its firm, DFI Retail Group is pushed by its goal to ‘Sustainably Serve Asia for Generations with Everyday Moments’.

The Group’s mothers and pop enterprise, DFI Retail Group Holdings Limited, is included in Bermuda and has a essential itemizing within the fairness shares (shift) classification of the London Stock Exchange, with extra 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