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ACE Hardware to Open 15 New Stores
Ace Hardware
Friday, 12 January, 2018 | 17:22 WIB
ACE Hardware to Open 15 New Stores

TEMPO.CO, Jakarta - Retail company ACE Hardware Indonesia (IDX: ACES) plans to open 10 to 15 new outlets this year. ACE currently has 144 stores in Indonesia. 

ACES corporate secretary Helen Tanzil said on Thursday that the company aims to boost sales from stores that were opened in the last two years. In 2016 and 2017, the company opened a total of 30 new stores.

Helen said the company has allocated Rp300 billion of capital expenditure this year. 

Bloomberg projected ACES to book a total revenue of Rp6.33 trillion in 2018, or growing 12 percent from the year before. 

The company's earnings before interest, taxes, depreciation, and amortization (EBITDA) is estimated to reach Rp1.07 trillion while net profit is predicted at Rp864.29 billion.

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