DFI Retail Group Holdings Limited 2024 Preliminary Announcement of Results

Highlights

• 30% improvement in hidden income to US$ 201 million
• Health and Beauty offered a gradual effectivity
• Convenience noticed strong income improvement because of helpful 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 yr, underlying income attributable to traders gotten to US$ 201 million, a 30% increase from the earlier yr.

Our different profile and dependable useful implementation allowed us to get market share all through important firms, additionally as we handled adjustments in buyer practices and macroeconomic headwinds. Profit improvement was pushed by enhanced income in Food and Convenience, sustained by improvement in digital networks. We are sure that the Group’s brand-new technique will definitely drive extra income improvement 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 strong improvement potentialities in our Convenience firm. Our varied different firms stay to cope with difficulties, but we’re sure within the capability of DFI’s aged administration group to browse non permanent unpredictabilities, advance the profile and buy enhancing our core firms to drive long-lasting improvement 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, we have now truly made substantial strides in making use of our crucial construction, which centres round 3 core columns:

Customer First
Across our firm, we have now a recurring dedication to inserting our shoppers initially, and we have now truly made substantial development to significantly better provide them over the earlier yr. The yuu Rewards dedication program stays to bolster, with a major increase in individuals and the enhancement of quite a lot of extra companions. We have truly likewise began utilizing our unique shopper info 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 outcome for shoppers. As effectively as significantly better providing our shoppers, these initiatives intend to strengthen market share improvement and enhance margins all through our firms.

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

Shareholder Driven
In positioning with our crucial and assets 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 firms will definitely be our emphasis in Indonesia and we’re sure within the long-lasting leads for these 2 firms to spice up market share because the Indonesian market expands. These disposals allow us to reinvest in our subsidiaries’ improvement, deleverage our annual report and broaden full investor returns.

Sustainability stays on prime of our program, and we’re working collectively rigorously with our stakeholders and establishing enthusiastic targets all through enterprise. There was strong 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 responsibility in supplying versus our prime priorities. The dependable implementation of our technique depends on wonderful high quality argument across the convention room desk, with strong funds from allDirectors

There have truly been quite a lot of substantial Board and government 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 answer asChairman

– I likewise need to say due to 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 resembling semiconductors, digital internet content material, ecommerce, cloud laptop and professional system, and her data in leveraging innovation to drive improvement 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 due to 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 completely different aged financial features throughout the organisation.

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

POTENTIAL CUSTOMERS
We are happy by the Group’s strong hidden income improvement 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 resembling Hong Kong the place we have now strong firms, whereas at the very same time intending to achieve long-lasting improvement as we improve important firms resembling 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 effectively for lasting improvement and enhanced investor returns within the years forward.

I need to resembling to share my gratitude to our traders, our valued companions and to the bigger space to your ongoing help. Most of all, many thanks must most probably to our worker, which can 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 EVALUATION

INTRO
As I assessment my preliminary full yr as DFI’s Group Chief Executive, I’m unbelievably pleased with the substantial development we have now truly 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 traders of US$ 201 million in 2024, up 30% year-on-year. During the yr, we revealed the divestment of our minority threat in Yonghui, a purchase order that traces up with our crucial and assets allowance construction and permits us to reinvest sooner or later improvement of our subsidiary firms. While our reported outcomes have been influenced by one-off merchandise, consisting of cheap price loss, incapacity of fairness fee of curiosity and a great popularity, we have now truly 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 yr, we keep laser targeting implementing our crucial prime priorities to drive earnings improvement and enhance success. Our 2025 financial recommendation of US$ 230 million to US$ 270 million hidden income attributable to traders, mirrors our self-confidence in extra construction on our vitality 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 assets allowance prime priorities and improvement 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 different firms all throughAsia We are honored to supply numerous shoppers in numerous layouts and banners with just about 11,000 electrical shops all through 13 markets inAsia What stands out is our steady dedication to inserting our shoppers initially and providing with enthusiasm and therapy. Our goal has truly always belonged to that we’re. During the yr, 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 each day calls for of our shoppers all through Asia, whereas stressing their fee of pursuits in lasting providers.

Aligned with our goal, we have now truly made substantial development in quite a lot of areas to significantly better provide our shoppers over the earlier yr.

yuu Rewards
Our yuu Rewards union dedication program stays to bolster. In our house market of Hong Kong, full individuals have truly 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 info 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 truly concerned all through a collection of redemption gives that combine brand-new touring, house leisure and consuming options, driving improved shopper involvement.

In Singapore, the yuu Rewards program has truly expanded to over 1.8 million individuals. A wide range 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 huge yuu Rewards shopper info to reinforce array in our outlets. At Wellcome, we have now truly leveraged our unique info and complex info analytics capacities to implement a reset of 14 teams in outlets. The boosted array has truly 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 firms all through Hong Kong andSingapore

Improving supplier partnership
We are beginning to significantly better make the most of our info to maintain improved supplier partnership. By growing a way more clear and collective technique to settlements with distributors, we’re interacting to drive market improvement and a much better finish outcome for shoppers.

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 growing cross-selling potentialities all through our layouts, we have now truly made vital enhancements in margin and gross sales efficiency, that features a better than 300bps increase in our Food Own Brand margin and close to a 40% increase in gross sales efficiency contrasted to 2023. Following the success of our reset of the Own Brand profile all through our Food firm, we have now truly included 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, shoppers are presently in a position to entry our retail profile with a bigger number of digital possessions consisting of functions, websites and third-party methods. 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, we have now truly launched better than 20 brand-new networks in 2024 all through functions, websites and third-party methods. Our strengthened digital advice was underpinned by a 31% improvement in ecommerce order amount with strong success turn-around.

Retail Media
DFI launched our very personal Retail Media community within the preliminary quarter of 2024. Initial effectivity has truly been motivating, with better than 100 focused promoting and advertising tasks marketed in a lot lower than a yr as a result of the launch, sustained by strong gross sales velocity within the 2nd fifty p.c. We have truly partnered with main distributors resembling Procter & & Gamble, Unilever, Coca- Cola, Nestl é andReckittImportantly, the included on-line and offline promoting and advertising advice for Retail Media has truly sustained the boosted Return on Ad Spend for our supplier companions. We stay within the very early days of a probably 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 duty to a method framework, subsequently enhancing dexterity whereas decreasing above bills. Throughout 2024, we have now truly been targeting deeply putting in our worths, underpinned by our goal declaration all through theGroup We have truly decreased durations and layers throughout the organisation to reinforce procedures and quicken alternative manufacturing. Diversity depiction all through layouts has truly been significantly boosted to make sure neighborhood significance of decision-making to shoppers. We have truly strengthened our administration sequence preparation and development with a meaningfully boosted employees member involvement score, sustained by a brand-new motivation framework for aged monitoring that traces up with investor fee of pursuits, primarily based upon full investor return and firm effectivity targets.

Shareholder Driven
Our crucial construction has truly been created with the important thing goal of enhancing investor returns. We have truly come near assets allowance in a regimented style, each from a capex and functioning assets monitoring viewpoint. Over this system of the yr, we carried out the divestment of quite a lot of company-owned residential properties, which has truly 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 style that’s accretive to return on assets and full investor return primarily based upon a tactical analysis of our firms in 2024. In June 2024, the Group completed the divestment of the Hero Supermarket firm inIndonesia Post- conclusion, DFI’s procedures in Indonesia has truly completely rotated to the Guardian and IKEA firms. In September 2024, the Group revealed the divestment of its complete 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 increase 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 beneficial properties 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 because of 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 whole yr, 42% greater than the earlier yr. This was pushed by substantial revenues therapeutic in Singapore Food and helpful merchandise combine change within the route of non-cigarette teams in our Convenience firm, partly balanced out by diminished cost from Home Furnishings as an final result of weak constructing market process and escalating opponents.

The Group’s share of hidden profit from associates was US$ 43 million, down 2% year-on-year. Lower cost from Maxim’s because 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 improvement atRobinsons Retail

The Group’s reported outcomes for the yr have been influenced by non-trading losses attributable to traders of US$ 445 million. This was primarily because of lack of US$ 114 million linked with the divestment of Yonghui, a US$ 231 million incapacity of fee of curiosity in Robinsons Retail and US$ 133 million a great popularity incapacity of Macau and Cambodia Food firms. These losses have been partly balanced out by beneficial properties from divestment of Singapore constructing possessions and the Group’s share of one-off beneficial properties 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 yr, principally because of damaging movement in functioning assets year-end timing distinction, partly balanced out by underlying working income improvement. 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 chance to promote and drive lasting firm methods in response to the selection of our shoppers. By inserting our ESG dedication as a core column of our Group Strategy, we have now truly made vital development in numerous 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 score enhancing to 49 as at 8 January 2025, placing DFI within the 84 ^th percentile throughout 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) exhausts by 2030 and attain net-zero by 2050. Throughout 2024, we have now truly made substantial monetary investments in updating and remodeling our current refrigeration methods to way more eco-friendly options. We successfully completed assessments of fuel and ultra-low worldwide warming potential gases as cooling agent choices for our grocery retailer. Following an in depth analysis of our Scope 3 exhausts, we have now truly acknowledged important merchandise teams and cheap 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, executing space surveillance and monitoring to gauge carbon exhaust decreases. We have truly made vital development in enhancing our waste diversion and are frequently discovering cutting-edge strategies to advertise a change within the route of a regional spherical financial scenario. Wellcome has truly partnered with a Hong Kong- primarily based reusing middle to remodel trimmed fat proper into biodiesel for powering necessary 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 traders.

COMPANY EVALUATION

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

Hong Kong reported strong LFL gross sales effectivity within the preliminary quarter, which after that decreased within the 2nd and third quarters because of a strong equal period in 2023 when consumption coupons have been paid out in April and July 2023. Sales vitality boosted within the 4th quarter with Mannings remaining to get market share. Profit for the yr 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 acquired to a considerable turning level as a result of its launch in 2023. In collaboration with Bupa, amongst Hong Kong’s vital medical 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 gives completely free appointments and medication for a sequence of regular 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 answer gives an AI well being evaluation that determines over 20 metrics, complied with by private appointments and merchandise referrals. Initial outcomes have truly been interesting, with shoppers making use of the answer revealing a basket dimension 3 instances greater than commonplace. In enhancement, the group likewise launched a brand-new Mannings utility in December to broaden 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 increase, pushed by improvement in basket dimension all through all important markets. Indonesia, significantly, noticed a 17% LFL gross sales improvement sustained by enhanced purchasing middle web site visitors and strong implementation of promoting tasks. Strong income improvement was reported all through plenty of important markets, underpinned by gross margin progress and working make the most of. In Singapore, strong 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 yr, 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 yr, an increase of 17% contrasted to 2023. Hong Kong working income has truly expanded 10% year-on-year, pushed by a great combine change within the route of higher-margin teams, with ready-to-eat (RTE) bookkeeping for 16% of full gross sales for the whole yr. The just lately launched 7-Eleven utility gives diminished 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 improvement 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 vital income improvement in each markets. 7-Eleven remained to broaden its store community within the South China space with 103 internet openings all year long. The Group intends to drive extra community progress principally 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 yr. Underlying working income for the division was US$ 58 million for the yr, up from US$ 45 million in 2023.

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

South East Asia Food gross sales effectivity was negatively impacted by excessive opponents and delicate buyer perception because 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 remodeling profitable within the 4th quarter of 2024. The Group stays to supply the Singapore market with varied proposals with its completely 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 truly completely rotated to the Guardian and IKEA firms.

DECOR
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 firm effectivity has truly been interfered with by decreased shopper web site visitors because of weak constructing market process all through areas. While IKEA Taiwan confirmed member of the family sturdiness, gross sales in Hong Kong and Indonesia have been impacted by magnified opponents and basket combine modification as shoppers decreased acquisitions of pricy merchandise.

In response to the robust gross sales environment, the IKEA group stays to hold out strong worth management determines all through our markets. The IKEA Hong Kong firm is rotating within the route of an much more value-driven omnichannel advice to tackle Chinese landmass digital methods. Shopping infiltration has truly presently gone past 10% all through all markets. The IKEA Indonesia group stays targeting 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 yr.

DINING ESTABLISHMENTS
The Group’s share of Maxim’s underlying earnings was US$ 66 million in 2024, under US$ 79 million within the earlier yr, primarily because of diminished 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, principally in Thailand andVietnam Benefiting from a different 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 yr, contrasted to a US$ 36 million share of underlying losses within the earlier yr. Continued macro headwinds and excessive opponents resulted in diminished 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 diminished single-digit improvement in LFL and sturdy improvement in working income pushed by the Food and Drugstore sectors. Reported income cost expanded close to 90% year-on-year, sustained by one-off beneficial properties adhering to the BPI-Robinsons Bank merging in very early 2024.

EXPECTATION
We have truly browsed 2024 with resistant firm effectivity and proceeded market share beneficial properties for our important firm methods 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 rigorously hopeful relating to 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 improvement 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, we have now truly established sturdy constructions in 2024, and we keep sure in driving continuous, profitable improvement 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

The firm is solely answerable 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 memorable answer to Asian prospects with a fascinating 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 center 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 fundamental itemizing within the fairness shares (shift) classification of the London Stock Exchange, with extra listings in Bermuda andSingapore The Group’s firms are taken care of fromHong Kong DFI Retail Group belongs to theJardine Matheson Group

Investors

Karen Chan

Media
Christine Chung