Indonesia’s Depo Bangunan sees 2 pct uptick in sales for Q1

PT Caturkarda Depo Bangunan, a home improvement retail chain in Indonesia, recorded a two-per cent rise in sales for the first quarter of 2024, thanks to an increase in the take across all its categories.  

In a disclosure to the Indonesian stock exchange, Depo Bangunan said net sales for the period hit 694.820 bn Indonesian rupiah (IDR, EUR 40.24 mio.). This is after sales for building materials, which contributed close to 60 per cent of the top line, went up two per cent to IDR 416.519 bn, while finishing materials, which accounted for 37.62 per cent of the total take, inched up 1.7 per cent to IDR 261.401 bn. Other products had sales amounting to IDR 14.995 bn, making up a little over two per cent of the total sales and increasing by 1.6 per cent compared to the same period last year.

The quarter’s take is 22.68 per cent of the IDR 3.059 tn sales target that Depo Bangunan has set for this year. The target is a 14-per cent rise from the IDR 2.681 tn in sales that the company made last year.  

In its annual report, Depo Bangunan outlined plans for 2024 that aim to counter political and economic headwinds, such as global geopolitical shocks, rising inflation, the weakening Chinese economy and changes in Indonesian policies. One of its strategies is to focus on business growth and expansion. The company - which ended 2023 with 13 branches across the country, and which enjoys a 27.07 per cent market share in West Java and holds 25.34 per cent of the market in East Java - plans to open four new branches this year.

It also plans to open a training center to “boost the quality of the workforce”, and strengthen e-commerce by using the company’s website. In addition, it plans to develop new products and seek new suppliers “to avoid dependency and to ensure sustainability of the supply chain”.

“The company has prepared various business strategies through the inception of new innovations and breakthroughs in marketing its products. These efforts are made to increase market share and enhance customer satisfaction and loyalty, thereby creating a sustainable business,” it added.  

Depo Bangunan, which listed on the Indonesian bourse in 2021, is 22 per cent owned by Global House International, a subsidiary of Thai home improvement retailer Siam Global House and Thai industrial conglomerate Siam Cement Group.