INVESTOR BRIEF
FY 2023
MARKET HIGHLIGHTS
- Both topline and bottomline recorded positive growth.
- Sales grew by 0.3% driven by domestic and export sales which grew by 0.3% respectively.
- Net income grew by 110.5% compared to previous year.
- Fragrance category grew by 8.9% compared to previous year.
- LUCIDO-Lreceived Best Hair Treatment Award for LUCIDO-L Triple Beauty Vitamin Oil in the Female Daily Best of Beauty Award 2023.
- PIXY Make It Glow Techno-Fixed Matte Primer received Best Primer Award in the Female Daily Best of Beauty Award 2023.
BUSINESS RESULTS
Statements of Income
Rp Million | FY2023 | FY2022 * | Balance | %Growth |
Net Sales | 2.050.460 | 2.044.821 | 5.639 | 0,3% |
COGs | (1.643.849) | (1.633.386) | (10.463) | 0,6% |
Gross Profit | 406.611 | 411.435 | (4.824) | -1,2% |
Operating Expenses | 405.798 | 405.588 | 210 | 0,1% |
Operating Income | 813 | 5.847 | (5.034) | -86,1% |
Net Income | 38.116 | 18.109 | 20.007 | 110,5% |
Comprehensive Income | 49.095 | 35.441 | 13.654 | 38,5% |
Basic Loss per Share (in Rp) | - | - |
Statements of Financial Position
Rp Million | Dec 31, 2023 | Dec 31, 2022 * | Balance | %Growth |
Current Assets | 1.639.341 | 1.594.566 | 44.775 | 2,8% |
Non-Current Assets | 752.225 | 786.092 | (33.867) | -4,3% |
Total Assets | 2.391.566 | 2.380.658 | 10.908 | 0,5% |
Current Liabilities | 175.292 | 221.011 | (45.719) | -20,7% |
Non-Current Liabilities | 330.487 | 304.859 | 25.628 | 8,4% |
Equity | 1.885.787 | 1.854.788 | 30.999 | 1,7% |
Total Liabilities & Equity | 2.391.566 | 2.380.658 | 10.908 | 0,5% |
Net Working Capital | 1.464.049 | 1.373.555 | 90.494 | 6,6% |
Statements of Cash Flows
Rp Million
FY2023 | FY2022 * | Balance | %Growth |
Capital Expenditure | 55,878 | 47,466 | 8,412 | 17,72% |
SALES
Net Sales by Geographical
Rp Million | FY2023 | FY2022 | Balance | %Growth |
Domestic | 1.331.313 | 1.327.525 | 3.788 | 0,29% |
Export | 719.147 | 717.296 | 1.851 | 0,26% |
Net Sales by Category
Rp Million | FY2023 | FY2022 | Balance | %Growth |
Men's | 1.112.814 | 1.105.264 | 7.550 | 0,68% |
Women's | 921.147 | 920.120 | 1.027 | 0,11% |
Others | 16.499 | 19.437 | (2.938) | -15,12% |
Net Sales by Segment
Rp Million | FY2023 | FY2022 | Balance | %Growth |
Skin Care & Make Up | 737.699 | 754.747 | (17.048) | -2,26% |
Hair Care | 842.667 | 856.059 | (13.392) | -1,56% |
Fragrance | 454.671 | 417.325 | 37.346 | 8,95% |
Others | 15.423 | 16.690 | (1.267) | -7,59% |
HAIR CARE
Continuously Innovating to Provide Product Variety
Sales of hair care category slightly slowing down by 1.6% compared to previous year due to tighter competition especially in hair styling market.
As the largest contributor to sales, hair care category is among the Company's focus in terms of new products. The changes of consumer behaviour and preferences had inspired GATSBY to introduce new types of hair styling products in order to encourage new users. For GATSBY, in 2023 the Company launched GATSBY The Nature Styling Balm Series which is expected to strengthen GATSBY's position in the market as a market leader amidst tighter competition.
While LUCIDO-L brand also continues to be strengthened with the presence of the new product LUCIDO-L Serum Boost Hair Mask.
Hair Care
856.059
-1,6% 842.667
+8,7%
787.281
FY2021 | FY2022 | FY2023 |
HAIR CARE - ACTIVITIES
LUCIDO-L Triple Beauty Vitamin Oil
as Best Hair Treatment
GATSBY The Nature Styling BALM | Lucido-L Serum Boost Hair Mask Campaign |
SKIN CARE & MAKEUP
Skin Care & Makeup | |||
754.747 | -2,3% | ||
18.2% | 737.699 | ||
638.726
Focus on Base Makeup
Cosmetic market up until October 2023 continued to record positive growth. Nevertheless, this growth was followed by increasing competition. Throughout the year 2023, many new brands were launched and were able to grow rapidly and significantly. These new brands rapidly launched products in line with consumer trend and needs. In addition, these newcomers also carried out massive marketing campaign and gave significant impact to consumer intention.
Therefore, considering the increasing competition, PIXY implemented strategy by focusing on category which serves as PIXY strength namely base makeup, in order to maintain market share. In addition, PIXY also constantly launches new products in decorative makeup category to meet with market demand for quality products with affordable price. Among the products launched was PIXY Mousse Moment, lip decorative product with 6 shades variants.
FY2021 | FY2022 | FY2023 |
SKIN CARE & MAKEUP - ACTIVITIES
PIXY Mousse Moment Campaign | Focus on Base Makeup | PIXY Make It Glow Techno-Fixed |
Matte Primer as Best Primer |
FRAGRANCE
Female Fragrance Gains Market Approval
Fragrance
The positive market growth in female fragrance market is influenced by the changing consumer behavior who switched from EDC (eau de cologne) or cologne spray type to EDT (eau de toilette) or EDP (eau de parfum) fragrance. This has made sales of EDT/EDP products continues to grow significantly in the past three years while sales of other product types tend to stagnate and even starting to show a declining trend.
Furthermore, the next challenge emerged due to the decline of consumer purchasing power which made products launched must offer affordable price. While in fragrance product category, consumers today prefer products with glass bottle packaging for an exclusive image.
For the Company, as we can see on the chart, this category continues to show
411.758 +1,3%
454.671
+8,9%
417.325
positive performance. Several new products launched in 2023 were well accepted by the market such as PUCELLE Eau de Luxe Parfum, GATSBY Eau de Bold Series, and several series of LOVILLEA.
FY2021 | FY2022 | FY2023 |
FRAGRANCE - ACTIVITIES
GATSBY Eau de BOLD | Lovillea Eau de Parfum Hijab Mood | PUCELLE Eau de Luxe Parfum |
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PT Mandom Indonesia Tbk published this content on 05 April 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 05 April 2024 13:51:07 UTC.