Pt Integra Indocabinet Tbk · IDX:WOOD
Pt Integra Indocabinet Tbk — Q2 2024 Earnings Presentation
90 slides from Pt Integra Indocabinet Tbk's earnings presentation, Aug 1, 2024
Slide 1: PT Integra Indocabinet Tbk Investor Presentation 2Q24
PT INTEGRA INDOCABINET TBK Integrated Wood-Based Company Investor Presentation 2Q24 Desa Betro, Kecamatan Sedati Sidoarjo 61253 – Indonesia Phone: +62 31 8910434, +62 31 8910435, +62 31 8910436 Faximile: +62 31 8911391 E-mail: investor.relations@iil.co.id Website: www.integrafurniture.co.id
Slide 2: Table of contents
Table of contents Corporate Business ESG, sustainability Growth Financial Introduction overview overview and safety drivers overview Company profile Milestones Business model and UN Sustainable Opportunity in US Sales order update growth strategy Development Goals protectionism Investment case Corpo
Slide 3: Company profile
Company profile Establishment date 19 May 1989 Listing date 21 June 2017 Security code WOOD IJ Industry, trade, and processing services of wood-based furniture and other wood products, forest concessions, as well as retail Business field and distribution of furniture and home decorations through the
Slide 4: Investment case
Investment case Efficient operations Largest vertically-integrated timber products manufacturer, which results in margin improvement due to cost efficiencies. Immense growth potential Taking advantage of the US-China trade war opportunity and AD & CVD implementation on China’s timber products, Integ
Slide 5: Table of contents
Table of contents Corporate Business ESG, sustainability Growth Financial Introduction overview overview and safety drivers overview Company profile Milestones Business model and UN Sustainable Opportunity in US Sales order update growth strategy Development Goals protectionism Investment case Corpo
Slide 6: Milestones
Milestones Relocation of Interkraft’s factory to an 8-ha site in Lamongan; establishment Establishment of Converted COVID-19 Issued shelf of Woodone Integra Integriya Dekorindo Barecore Challenges; keep registered Bond (wooden doors); Acquisition of (furniture distribution and production growing exp
Slide 7: Corporate structure
Corporate structure PT. INTEGRA INDO LESTARI PUBLIC 71.1% 25.1% Treasury Stocks: 2.69% Forestry Manufacturing Retail & Distribution PT Narkata Rimba PT Intertrend Utama PT Integriya Dekorindo PT Belayan River Timber PT Interkraft PT Intera Indonesia 7
Slide 8: Board of Commissioners
Board of Commissioners Bing Hartono Poernomosidi Stephanie Kane Ilham President Commissioner (Independent) Commissioner ▪ Commissioner since 1993 ▪ Independent Commissioner since 2016 ▪ Obtained her Bachelor of Marketing and Management degree from ▪ Obtained his Bachelor of Economics degree from Air
Slide 9: Board of Directors
Board of Directors Halim Rusli Widjaja Karli President Director Marketing Director ▪ President Director since 1989 and one of the founders of ▪ Marketing Director since 1991 and one of the founders of the Company the Company ▪ Received his Bachelor of Business Administration degree ▪ Commissioner at
Slide 10: Board of Directors
Board of Directors Syany Tjandra Wang Sutrisno Director of Operations Director of Finance ▪ Director of Operations since 1991 ▪ Finance Director and Independent Director since 2016 ▪ Previously worked at Expeditor International (1991-1993), ▪ Previously served as Director at PT Integra Indo Lestari
Slide 11: Shareholder structure
Shareholder structure As of 30 June 2024: No. Name Number of Shares % of Shares 1 PT Integra Indo Lestari 4,573,835,000 71.1 2 Public float 1,615,121,900 25.1 3 Treasury Stocks 173,543,100 2.7 Total shares 6,437,500,000 100.0 11
Slide 12: Commitment to minority shareholders
Commitment to minority shareholders As a listed Company, we are committed to creating value for minority shareholders and acting in their best interests through: Fair Disclosure The Company is committed to fairly disclosing information to all our shareholders. Voting in General Meeting All our share
Slide 13: Table of contents
Table of contents Corporate Business ESG, sustainability Growth Financial Introduction overview overview and safety drivers overview Company profile Milestones Business model and UN Sustainable Opportunity in US Sales order update growth strategy Development Goals protectionism Investment case Corpo
Slide 14: Business model and growth strategy
Business model and growth strategy Forest Successful Foundation: Manufacturer • Our strategy is to help our customers to be successful by cutting all the middlemen in current existing supply chain • The creation of synergetic Broker partnership between vertically integrated wooden manufacturer and l
Slide 15: WOOD Corporate Strategy
WOOD Corporate Strategy Our key corporate strategy Downstream Initiatives Product Innovation Efficiency in Production • Sales rep company: Establish presence in • Differentiated Product: Develop distinctive • Adoption of technology: Integrate ERP system US for customer facing operations building com
Slide 16: Product portfolio
Product portfolio Knock-down furniture Fully-assembled furniture Building components Millwork Plywood Wall paneling Window blinds Doors 16
Slide 17: Product portfolio: Knocked Down Furniture
Product portfolio Knocked Down Furniture Photo courtesy of TARGET 17
Slide 18: Product portfolio: Knocked Down Furniture
Product portfolio Knocked Down Furniture Photo courtesy of TARGET 18
Slide 19: Product portfolio: Fully Assembled Furniture
Product portfolio Fully Assembled Furniture 19
Slide 20: Product portfolio: Fully Assembled Furniture
Product portfolio Fully Assembled Furniture 20
Slide 21: Product portfolio: Baby Furniture
Product portfolio Baby Furniture 21
Slide 22: Product portfolio: Bunk Bed Furniture
Product portfolio Bunk Bed Furniture 22
Slide 23: Product portfolio: Natural Fiber Furniture
Product portfolio Natural Fiber Furniture Photo courtesy of TARGET & IKEA 23
Slide 24: Product portfolio: Kitchen Cabinet
Product portfolio Kitchen Cabinet 24
Slide 25: Product portfolio: Vanity Cabinet
Product portfolio Vanity Cabinet 25
Slide 26: Product portfolio: Government projects
Product portfolio Government projects: Mid-low housing and Government projects: boarding house furniture School furniture On Friday, 04 January 2019, Indonesian President Jokowi Widodo inaugurated 3 apartment towers, in which one was a student apartment named “STKIP PGRI” in Tulungagung, East Jakart
Slide 27: Product portfolio: Millwork Products
Product portfolio Millwork Products 27
Slide 28: Product portfolio: Hobby Board / Laminated Board
Product portfolio Hobby Board /Laminated Board 28
Slide 29: Product portfolio: Plywood & LVL
Product portfolio Plywood & LVL 29
Slide 30: Product portfolio: Truck Flooring
Product portfolio Truck Flooring 30
Slide 31: Product portfolio
Product portfolio 04,04, 4;44;% (re lr (NG (I ‘ DOK 31
Slide 32: Vertically-integrated operations
Vertically-integrated operations Forestry (FSC Certified) o Logs (Shorea / Meranti) o 2 forestry concessions of over 163,425 ha Forest mgmt, planning, with capacity of 90,000 m3 per year Forest resources Heavy equipment Logs pond and and harvesting and infrastructure grading Distribution & Retail o
Slide 33: Value chain
Value chain Forestry Manufacturing Log yard Fully-assembled Knock down Building furniture furniture components Dry sawn timber Dry sawn timber Dry sawn timber Sawmill process warehouse warehouse warehouse Wet sawn timber Processing Processing Processing warehouse Sanding Final sanding Packing Kiln d
Slide 34: Geographic footprint and key customers
Geographic footprint and key customers NOVA USA WOOD PRODUCT LLC US LUMBER DIRECT JAPAN KENZAI CO.,LTD TARGET STORE Top 10 Export SHELL ECOMMERCE AND TRADING INC 6M24 NOVO COSTCO WHOLESALE US LUMBER THE EMPIRE COMPANY STARBRIGHT FOREVER, LLC - 100 200 300 400 in IDR (bn) 34
Slide 35: Production capacity
Production capacity Installed capacity (in m3) Integra Indocabinet Intera Interkraft Intertrend Total BC: BC: BC: BC: BC: Year Furniture BC: FJLB Furniture Furniture Furniture Wooden Furniture BC Millwork Millwork Millwork Plywood Blind 2018 19,688 43,000 6,125 35,833 7,088 8,750 25,927 - 22,000 41,
Slide 36: Production area
Production area Area utilization (in ha) Integra Indocabinet Intera Interkraft Intertrend WII Total BC: BC: BC: BC: Products Furniture BC: FJLB Furniture Furniture Furniture Wooden Doors Millwork Millwork Plywood Blind Betro, 16 5 - 2 - - - - - 2 25 Sidoarjo Gedangan, - - 2.6 - - - - - - - 2.6 Sidoa
Slide 37: Production facilities: PT Integra Indocabinet
Production facilities PT Integra Indocabinet Address: Sidoarjo Area: 21 ha No. of employees: 1,268 37
Slide 38: Production facilities: PT Intera Indonesia
Production facilities PT Intera Indonesia Address: Sidoarjo Area: 7.6 ha No. of employees: 166 38
Slide 39: Production facilities: PT Interkraft
Production facilities PT Interkraft Address: Lamongan Area: 10 ha No. of employees: 428 39
Slide 40: Production facilities: PT Intertrend Utama
Production facilities PT Intertrend Utama Address: Sidoarjo Area: 14 ha No. of employees: 419 40
Slide 41: Table of contents
Table of contents Corporate Business ESG, sustainability Growth Financial Introduction overview overview and safety drivers overview Company profile Milestones Business model and UN Sustainable Opportunity in US Sales order update growth strategy Development Goals protectionism Investment case Corpo
Slide 42: UN Sustainable Development Goals
UN Sustainable Development Goals Following the Company’s sustainability strategies and initiatives, we contribute to the following SDGs: ▪ Equal remuneration ▪ Recycle and reuse ▪ Given large ▪ Energy efficiency ▪ Source only legal and for women and men. our water. opportunity to through usage of ce
Slide 43: Preserving our environment
Preserving our environment Sustainable sourcing Our core principle in managing two of our forest concessions is to conduct responsible tropical natural management in line with both FSC and National guidelines to maintain our status as the well-managed tropical natural forest. Hence, we obtained both
Slide 44: Preserving our environment: Climate
Preserving our environment Climate We believe climate change poses a threat to our planet and its impact has become more visible. At Integra, we address this issue through energy efficiency by reducing energy usage. In our manufacturing division, in line with our spirit to realize a zero-waste strat
Slide 45: Preserving our environment: Health & Safety
Preserving our environment Manufacturing Health & Safety We place health & safety as our first priority to realize Zero Accident strategy in our working environment. Moreover, to be a supplier for international buyers, providing healthy & safe working environment at our production facilities is esse
Slide 46: Nurturing our talent
Nurturing our talent No. of employees No. of trainings 1,544 67 Competitive Benefits At Integra, we value our employees who become part of our family and grow with the company. Understanding the economic growth and increasing inflation, we provide wages and benefits that meet or exceed the local law
Slide 47: Governance
Governance Integra adheres to the following good corporate governance (GCG) principles: Transparency Accountability Responsibility Independence Fairness Ease of access to Clarity of functions, Compliance in the Professionally managed Fair and equal treatment complete, accurate and structure, systems
Slide 48: Governance structure
Governance Governance structure General Meeting of Shareholders GMS – The Government regulation no.40/2007 on Limited Liability Companies (GMS) require a company to held GMS and placed it as the highest organ in the Company structure. Both BOC and BOD are responsible to the GMS. The latest GMS was h
Slide 49: Governance: Whistleblowing policy
Governance Whistleblowing policy The violation reporting system or also known as the Whistleblowing System was established in order to encourage the employees to report violations based on a reward system. The approach used by the Company to maintain management discipline aligns with the Company’s i
Slide 50: Certifications and awards
Certifications and awards Forest Stewardship Council is an international BSCI is an initiative of the Foreign Trade Association SVLK certification is required by Indonesian law non-governmental organization dedicated to (FTA), the leading business association of European and for all wood products ex
Slide 51: Indonesia Climate Agenda
Indonesia Climate Agenda Indonesia Climate Agenda GHG Emission Reduction Target NDC Sector (MTonCO2e) Indonesian Emission Long-Term Strategy Paris Agreement and Reduction for Low Carbon & National Determined Target Contribution (NDC) FORESTRY ENERGY & WASTE AGRICULTURE IPPU Climate Resilience TRANSP
Slide 52: COP26 Outcomes
COP26 Outcomes The COP26 in Glasgow has finalize the Paris Rulebook which is a set of decisions that provides details about the implementation of the Paris Agreement. One of the major achievements was regarding the Article 6 of Paris Agreement which will unlock the potential of international emissio
Slide 53: Carbon Market
Carbon Market A carbon credit is a unit of exchange that businesses, organizations and individuals can use to offset their greenhouse gas emissions. One carbon credit is equivalent to one metric ton of greenhouse gases removed from the atmosphere. A carbon credit and a carbon offset are synonymous t
Slide 54: Limited Carbon Issuance
Limited Carbon Issuance As project integrity becomes increasingly vital, more stringent evaluations are necessary. This approach will bolster the credibility of verified projects. Source: MSCI Carbon Markets 54
Slide 55: Gradual Increase in the Integrity of VCM
Gradual Increase in the Integrity of VCM • As of the second quarter of 2024, 51% of the retired credits were less than five years old, indicating a growing commitment to the integrity of new carbon projects. • This increasing commitment is evidenced by the MSCI Carbon Market score, which reached 3.1
Slide 56: Significant Growth in Carbon Offtake Deal
Significant Growth in Carbon Offtake Deal • As of 1H24, the offtake deal reached 10MtCO2e with major corporations such as Microsoft and Tullow, a UK-based oil and gas company, committing to an offtake agreement that extends for more than ten years. Source: MSCI Carbon Markets 56
Slide 57: Table of contents
Table of contents Corporate Business ESG, sustainability Growth Financial Introduction overview overview and safety drivers overview Company profile Milestones Business model and UN Sustainable Opportunity in US Sales order update growth strategy Development Goals protectionism Investment case Corpo
Slide 58: Opportunity in US protectionism
Opportunity in US protectionism In addition to US trade war tariffs implemented on imported Chinese products which started in 06 July 2018, China also faced additional anti-dumping (AD) and anti-subsidy (CVD) duties that cause its products becoming less competitive compared to the other countries. W
Slide 59: Opportunity in US protectionism
Opportunity in US protectionism US Imposed AD and CVD on Chinese wood moldings and millwork products On 16 February 2021, the US Commerce Department Issued final Antidumping and Antisubsidy Determinations on Wood Moldings and Millwork Products from China (21,22). DOC imposed final antidumping duties
Slide 60: Opportunity in US protectionism
Opportunity in US protectionism US-imposed AD and CVD duties on Chinese wooden cabinets and vanities products US imports of wooden cabinets and vanities product from China reach USD4.7b in 2018 but dropped significantly in 2020 to USD1.7bn or drop by -45.5% y/y. As of 06 March 2019, the American Kit
Slide 61: Export tariff to US
Export tariff to US China Others Potential Products Market Trade war Anti dumping duty Anti subsidy duty General GSP tariff Wood Mouldings 25% 45.49 - 231.60% 20.56% - 252.29% 3.2% Free USD1.9bn & Millwork Wooden Cabinets 25% 48.5% - 262.18% 20.93% - 293.45% Free Free USD11.1bn & Vanities Hardwood 2
Slide 62: Export to US
Export to US BC Exporter to US (in USDmn) 1000 826 800 612 600 481 400 200 139 183 142 138 115 98 113 76 67 85 53 34 0 Brazil Indonesia China Malaysia Vietnam 2021 2022 2023 Plywood Exporter to US (in USDmn) 1000 840 796 800 664 638 638 600 514 431 405 411 400 352 286 248 190 200 132 93 0 Brazil Ind
Slide 63: Market Share in US
Market Share in US Market Share in US (as of 2023) Products China Vietnam Malaysia Brazil Indonesia Wooden Furniture 11.2% 37.3% 6.9% 1.5% 4.5% Wood Mouldings & Millwork 2.1% 7.0% 5.3% 29.9% 4.7% Hardwood Plywood 13.9% 14.1% 3.2% 9.8% 12.0% Market Share in US (as of 2022) Products China Vietnam Mala
Slide 64: What happened with the trade war?
What happened with the trade war? • US keeps buying less from China, dropping its share of imports to a 20-year low. • China accounted for 13.3% of US goods imports (1H2023), below a peal of 21.6% in 2017 and it was the lowest since 12.1% in 2003 • US is turning to Mexico, Europe, and other parts of
Slide 65: Opportunity in US-China tensions
Opportunity in US-China tensions ▪ As of 2023, US wooden furniture imports dropped by 26.3% YoY with Indonesia contribution decrease from 5.3% in 2022 to 4.4% in 2023. Indonesia wooden furniture exports to US declined by 38.4% YoY following falling in US furniture import of -27.5% YoY. ▪ As of 5M23,
Slide 66: Opportunity in US-China tensions
Opportunity in US-China tensions Wooden Furniture Exporters to US (in USDmn) 8,000 7,410 7,000 6,251 6,000 5,516 5,292 5,208 5,134 5,000 4,597 4,228 4,000 3,243 3,442 3,537 2,947 3,000 2,563 2,245 2,165 2,000 1,381 1,451 1,652 1,599 695471 733498 923 863 1,022 957629 1,000 619450 519 629 - 2016 2017
Slide 67: Global furniture trading
Global furniture trading Major furniture importing countries (in USDmn), 2014-2022 40,000 ▪ US remains the leading furniture importer with the value of USD27.1bn imported in 2023 30,000 ▪ The largest value of furniture type imported is the wooden 20,000 furniture which accounted for more than 50% of
Slide 68: Business outlook
Business outlook Integra will continue to benefit from: ▪ Market expansion ▪ Anti-Dumping and Anti-Subsidy tariffs implementation on Chinese exports (particularly wood-based products) by the US will remain as an open opportunity for Integra to keep expanding its market share in US market. ▪ Limited
Slide 69: Table of contents
Table of contents Corporate Business ESG, sustainability Growth Financial Introduction overview overview and safety drivers overview Company profile Milestones Business model and UN Sustainable Opportunity in US Sales order update growth strategy Development Goals protectionism Investment case Corpo
Slide 70: 2Q24 Earnings Result
2Q24 Earnings Result Revenue Op. profit 2000 24.9% YoY 24.8% QoQ 13.1% YoY 300 -4.5% YoY -7.4% QoQ 0.0% YoY 1441 250 1500 1274 187 187 IDR billion IDR billion 200 1000 800 150 641 641 90 97 94 500 100 50 0 0 2Q24 1Q24 2Q23 1H24 1H23 2Q24 1Q24 2Q23 1H24 1H23 Net profit 150 189.0% YoY -4.7% QoQ 105.9%
Slide 71: Sales by segment 2Q24 vs 2Q23
Sales by segment 2Q24 vs 2Q23 0.5% 2.3% Forestry Forestry 98.5% 2.0% 95.7% 1.0% Manufacturing Manufacturing Manufacturing Manufacturing (export) (domestic) (export) (domestic) 2Q24 2Q23 71
Slide 72: Sales by region 6M24 vs 6M23
Sales by region 6M24 VS 6M23 6M24 92.4% 5.2%1.2% 1.2% 6M23 89.7% 2.5% 4.6% 3.2% 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% in IDR 6M24 6M23 Growth America 1,332,218,707,869 1,143,612,791,384 16.5% Asia 74,802,627,313 31,692,786,623 128.8% Europe 16,919,370,050 40,798,950,804 -58.5% Others - -- 0.0%
Slide 73: Financial highlights
Financial highlights in IDR’b 2017 2018 2019 2020 2021 2022 2023 1H23 1H24 Sales 1,734 2,101 2,136 2,929 5,416 4,527 2,186 1,274 1,441 Gross profit 561 739 744 986 1,917 1,408 739 390 347 GPM 32.3% 35.2% 34.8% 33.6% 35.4% 31.1% 33.8% 30.6% 24.1% Operating profit 353 473 490 664 961 433 342 187 187 O
Slide 74: Balance sheet
Balance sheet in IDR’b 2017 2018 2019 2020 2021 2022 2023 1H24 Cash & ST investments 54,484 64,216 22,265 40,487 116,906 267,210 200,031 95,810 Inventories 1,172,715 1,431,983 1,739,014 2,065,822 2,603,605 2,515,305 2,843,452 2,669,621 Account receivable 165,131 460,194 928,901 686,716 705,994 352,1
Slide 75: Capex and production capacity
Capex and production capacity Capex (IDR’m) FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 98.8 Manufacturing 270,633 95,763 99.5% 100,163 85.7% 91,505 76.5% 104,413 93.53% % Forestry 813 0.3% 42 0.0% 14,238 14.3% 28,046 23,5% 7,231 6.47% Commerce 2,385 0.9% 401 0.4% - - - - - - Total 273,831 96,206 100,16
Slide 76: Capital structure
Capital structure Debt IDR facilities USD facilities Total debt in IDR Short term debt facility 1,698,154,488,240 11,882,540 1,893,277,687,104 Long term debt facility 302,095,969,039 - 302,095,969,039 Bonds 249,313,392,960 - 249,313,392,960 Sukuk 109,030,000,000 - 109,030,000,000 Gross debt 2,358,59
Slide 77: What's About Now? Sales per Segment
What’s About Now? Sales per Segment 4,000 3,531 3,500 3,000 2,594 2,500 2,000 1,793 1,791 1,563 1,500 1,360 1,243 1,162 1,181 1,036 949 1,031 1,000 526 558 581 333 407 500 13240 13956 141 48 11943 92 - - 56 - 4 - - 2017 2018 2019 2020 2021 2022 2023 1H2024 Furniture Building Component Forestry Tradi
Slide 78: What's About Now? Total Sales per Quarter
What’s About Now? Total Sales per Quarter 2,500 1,895 1,976 2,000 1,500 1,381 1,237 1,160 1,084 1,000 904 759 800 728 652 751 632 633 641 641 493 431 482 431 480 500 285 0 2019 2020 2021 2022 2023 2024 1Q 2Q 3Q 4Q Total Export Sales per Quarter 2,000 1,900 1,773 1,500 1,302 1,192 1,103 1,000 839 887
Slide 79: How to assess the US Housing Market?
How to assess the US Housing Market? ✓ "Housing starts" and "building permits" are two key indicators of the health of the residential construction sector in the United States ; ✓ Both are published by the U.S. Census Bureau and the U.S. Department of Housing and Urban Development. ✓ Housing starts
Slide 80: How to assess the US Housing Market?
How to assess the US Housing Market? ✓ A housing start is counted as soon as groundbreaking begins, and each unit in a multi-family housing project is treated as a separate housing start. ✓ Housing starts measure builders' willingness to expend resources on new projects, which in turn depends on the
Slide 81: How to assess the US Housing Market?
How to assess the US Housing Market? ✓ A building permit is an official approval to construct a new building or expand or remodel an existing one. Its purpose is to ensure that the construction project follows all relevant regulations, including building standards, land use, and environmental protec
Slide 82: How to assess the US Housing Market?
How to assess the US Housing Market? ITG Sales vs USHS vs USBP ✓ ITG performances have 2,500 strong correlation with USHS 2,000 1,500 ITG ✓ Therefore, the USHS may USHS USBP be a good lead indicator for 1,000 Linear (USHS) predicting the future 500 performance of ITG in the US market - Q1/22 Q2/22 Q
Slide 83: What US Market Monthly Indicators Say?
RUCTION, APRIL 2024 d estimates of housing units authorized by building permits for What US MarketMONTHLY Indicators Say? n revised. Also, seasonally adjusted estimates of housing units d back to January 2017, and seasonally adjusted estimates of FOR RELEASE AT 8:30 AM EDT, W EDNESDAY, JULY 17, 2024
Slide 84: What US Market Indicators Say? June 2024
What US Market Indicators Say? June 2024 United States Housing Starts US Housing Starts - Thousand units 1.54K 1.49K 1.43K 1.38K 1.32K Jul Sep Nov 2024 Mar May Source: tradingeconomics.com | U.S. Census Bureau ✓ Total starts rose 3% month-over-month to an annualized rate of 1.353 million in June 202
Slide 85: What US Market Indicators Say? June 2024
What US Market Indicators Say? June 2024 US 15 Year Mortgage Rate - percent US 30 Year Mortgage Rate - percent 6.8 7.6 6.2 7.0 5.6 6.4 5.0 5.8 4.4 5.2 2023 2024 2023 2024 Source: tradingeconomics.com | Freddie Mac Source: tradingeconomics.com | Freddie Mac 15 Year Mortgage Rate in the United States
Slide 86: What US Market Indicators Say? June 2024
What US Market Indicators Say? June 2024 New Home Sales Existing Home Sales Total Housing Inventory US New Home Sales - Thousand units US Existing Home Sales - Thousand US Total Housing Inventory - Thousands 720 4.33K 1.28K 695 4.22K 1.22K 670 1.16K 4.11K 645 1.09K 4K 620 1.02K 3.89K Jul Sep Nov 202
Slide 87: Existing Home Sales
Existing Home Sales US Existing Home Sales - Thousand 4.33K 4.22K 4.11K 4K 3.89K Jul Sep Nov 2024 Mar May Source: tradingeconomics.com | National Association of Realtors ✓ Total Existing Home Sales receded 5.4% from May to a seasonally adjusted annual rate of 3.89 million in June. Year-over-year, sa
Slide 88: What US Market Indicators Say? June 2024
What US Market Indicators Say? June 2024 • Builder confidence in the market for newly built single-family homes was 42 in July, down one point from June, according to the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI). This is the lowest reading since December 20
Slide 89: What US Market Indicators Say? Mar 2024
What US Market Indicators Say? Mar 2024 ✓ The prediction for interest rates for the remainder of 2024 is that mortgage rates will continue to rise before finally ending up lower than they started at the beginning of this year.
Slide 90: Thank You!
THANK YOU! Desa Betro, Kecamatan Sedati Sidoarjo 61253 – Indonesia Phone: +62 31 8910434, +62 31 8910435, +62 31 8910436 Faximile: +62 31 8911391 E-mail: corsec.integra@iil.co.id Website: www.integrafurniture.co.id
PT Integra Indocabinet — Q2 2024 Earnings Presentation on 6ix