Avia Avian (AVIA) Aims for Improved 2024 Performance With a New Strategy

ISSUER NEWS - JAKARTA. The paint issuer from Tancorp Group, PT Avia Avian Tbk (AVIA) is confident of achieving better performance in 2024. This is due to several agendas and strategies of the company to maintain the sustainability of its business.

Head of Investor Relations of Avia Avian, Andreas Timothy Hadikrisno is optimistic that the company's performance will be better than the previous year. This is because he sees the economic conditions and inflation rate have started to show a stable condition.

"We are optimistic that this year's performance will be better than the previous year. Some of the things that support performance certainly come from an increasingly complete product portfolio, covering various products ranging from economic to premium," Andreas told Kontan, Friday (2/2).

Andreas revealed that the company's paint sales are still growing positively until the end of January 2024. However, unfortunately, he has not been able to detail how much revenue the company earned during that period.

"Until the end of January 2024, paint sales are still growing compared to January 2023. We hope that with the improved sales performance in 2024, it will also boost growth in gross profit, operating profit, and net profit," he said.

Andreas explained the company has several strategies to boost business performance. First, the company will aggressively add 7 to 9 distribution centers. This expansion is important to drive product penetration in various regions of Indonesia.

"Of course, it will also be very helpful in terms of providing maximum and superior delivery services to customers throughout Indonesia," he explained..

The second strategy, the company to continue to develop various products according to the changing needs of consumers, as well as see the potential market opportunities that exist.

"We are supported by a solid RDI (Research Development Innovation) team and facilities," he said.

The next strategy, AVIA will also aggressively implement marketing strategies, both through digital TV and product campaign activities and promotions to retail stores.

"The last strategy, we will expand the penetration segment to projects that lead to building maintenance from B2B and commercial. Then penetration to small and medium scale housing projects," he said.

Andreas stated, that this year AVIA continues to develop new product innovations in various segments.

"Starting from wall paint, wood and iron paint, as well as leak-proof coating paint," he said.

Andreas explained the decorative paint business in Indonesia, especially in retail and repainting, will be the same as other building material business sectors. According to him, this sector is highly dependent on the level of economic growth which in turn affects consumer purchasing power.

"For 2024, with the election, we cannot provide a definite picture yet because there are many possibilities of factors beyond the company's control," he concluded.

However, Andreas hopes that the Election agenda can run smoothly and calmly so as not to have a significant negative impact on the economic conditions of Indonesia.