External broker reports(aggregated public sources), BRI Danareksa Research

BRI Danareksa Research

As a one-stop financial solution with the vision to be the most valuable securities house, BRI Danareksa Sekuritas (BRIDS) has maintained an excellent track record and extensive experience in the capital market as an underwriter, broker, and financial advisor for individual, institutional, foreign and domestic, private and government clients. Established in 1992, PT Danareksa Sekuritas is a securities company that performs activities as a securities broker, underwriter, or arranger and financial advisor. Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

External broker reports(aggregated public sources)

As a one-stop financial solution with the vision to be the most valuable securities house, BRI Danareksa Sekuritas (BRIDS) has maintained an excellent track record and extensive experience in the capital market as an underwriter, broker, and financial advisor for individual, institutional, foreign and domestic, private and government clients. Established in 1992, PT Danareksa Sekuritas is a securities company that performs activities as a securities broker, underwriter, or arranger and financial advisor.

Equity Bottom-Up

Aspirasi Hidup Indonesia / Equity Bottom-Up

<ul><li>Aspirasi Hidup Indonesia (ACES IJ)5M26 SSSG &amp; Meeting TakeawaysAZKO’s 5M26 SSSG eased to 2.1% amid weaker mall traffic, but revenue growth remained on track at +6.1% yoy.</li><li>Management indicated Jun 26 sales momentum remains broadly in line with May 26 so far, although it continues to expect positive ytd growth.</li><li>Maintain Buy with unchanged TP of Rp450.Softer SSSG in 5M26 but revenue remained in line. AZKO’s 5M26 SSSG came in slightly lower at 2.1% (vs. 2.4% in 4M26)</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

Aspirasi Hidup Indonesia (ACES IJ)5M26 SSSG &amp; Meeting TakeawaysAZKO’s 5M26 SSSG eased to 2.1% amid weaker mall traffic, but revenue growth remained on track at +6.1% yoy.Management indicated Jun 26 sales momentum remains broadly in line with May 26 so far, although it continues to expect positive ytd growth.Maintain Buy with unchanged TP of Rp450.Softer SSSG in 5M26 but revenue remained in line. AZKO’s 5M26 SSSG came in slightly lower at 2.1% (vs. 2.4% in 4M26)Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Aspirasi Hidup Indonesia (ACES.IJ Rp) 5M26 SSSG & Meeting Takeaways