In today’s briefing:
- Ace Hardware Indonesia (ACES IJ) – The Laggard Household Recovery Story
Ace Hardware Indonesia (ACES IJ) – The Laggard Household Recovery Story
- Ace Hardware Indonesia (ACES IJ) is a household name in Indonesia and should be a beneficiary of the economic recovery and improved mobility but has languished, trading at 5-year lows.
- SSSG for the last two months have remained strong pushing the YTD SSSG into positive territory and confirming an ongoing recovery. It will roll out 15 new stores this year.
- Ace Hardware Indonesia (ACES IJ) is trading at 13.5x FY2023E PER, with EPS forecast to recover by +27.8% in FY2023E versus its 5-year average forward PER of 27x.
💡 Before it’s here, it’s on Smartkarma
Sign Up for Free
The Smartkarma Preview Pass is your entry to the Independent Investment Research Network
- ✓ Unlimited Research Summaries
- ✓ Personalised Alerts
- ✓ Custom Watchlists
- ✓ Company Data and News
- ✓ Events & Webinars
