Arwana Citramulia (ARNA IJ) - Capacity-Driven Growth Ahead

639 Views28 Feb 2025 20:50

SUMMARY

Arwana Citramulia published a solid set of FY2024 results, with sales growth to +7.4% YoY, although FY2024 net profit was down slightly due to cost pressures and higher promotional spending.
The company continues to see a favourable product mix shift towards higher-end tiles, especially its ARNA porcelain brand. New capacity coming on stream in 2025 will provide a further boost.
The gas subsidy has yet to be confirmed for the ceramic industry, but expectations are that it will come through shortly. Arwana Citramulia valuations remain attractive, with higher growth ahead.

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