Good afternoon, everyone. Thank you for taking the time to participate in today's call. We appreciate your continued interest in Avia and welcome you to our Q3 2024 earnings call. For your information, we uploaded the presentation materials to our website yesterday. The plan for today is to start with a quick presentation, followed by a one-hour Q&A session. If you have any questions during the presentations, please use the Q&A chat box, and we will answer them during the Q&A session. For those who cannot join us now, please note that the webcast of this event will be uploaded to our website no later than tomorrow. Thank you once again for being here today. Allow me to start by introducing myself. My name is Andreas Timothy Hadikrisno. I'm the Head of Investor Relations at Avia and will be moderating this earnings call today.
Joining me on the call from Avian are Mr. Ruslan Tanoko, the Vice President Director of our company, followed by Mr. Robert Tanoko, the Operations and Development Director, and finally, Mr. Kurnia Hadi, the Finance Director. In Q 3, Avian Brands registered a total revenue of $113 million. During the same period, the company recorded a gross margin of 43.5%, an EBITDA margin of 24%, and a net profit margin of 19.7%. By the end of Q 3, we had 162 distribution centers across the nation, comprising 123 wholly owned DCs and 39 third-party DCs, providing high-quality services to more than 57,000 retail outlets throughout the country. This page showcases the company's Q 3, 2024 performance compared to the same quarter last year. While the inflationary pressures have eased, consumer spending continues to be weak.
Economic strains, combined with other societal issues like online gambling and digital lending, have contributed to an increasingly challenging business environment. Avian Brands is actively advancing its sustainable growth strategies, focusing on seizing market share from other competitors. The company expanded its offering by launching four new products in this quarter. One of these new products, No Drop Beton and Batu Alam, is certified by Green Label Singapore, reflecting the company's commitment to sustainable product development. Please note that the company is paying close attention to inventory management, carefully monitoring the performance of all existing products to streamline our product line and improve the supply chain efficiency. As of September 2024, we have 123 wholly owned DCs, complemented by 15 mini DCs and 39 third-party DCs spread across Indonesia.
Our nationwide distribution network has proven to be an integral part in providing exceptional service quality to customers, fostering strong loyalty towards our company. Our robust logistical infrastructure enables us to facilitate over 13,000 daily deliveries and achieve a 92% success rate for one-day delivery services to retail outlets. We continue to invest in strengthening our delivery capabilities and optimizing supply chains for greater efficiency. Despite the softer economic environment, Avian Brands delivered a positive quarter driven by continued execution of our strategy. In Q 3, the company reported Rp 1.8 trillion in consolidated sales, marking an increase of 7.8% year-on-year. For the nine months, consolidated sales increased by 4.7%, exceeding Rp 5.4 trillion. Throughout the nine months of 2024, we recorded transactions from over 56,000 retail outlets, marking an increase of over 1,000 retail outlets compared to the same period last year.
I will now turn the call over to Finance Director, Pak Hadi. Please go ahead, Pak.
Thank you, Pak Andreas. And good afternoon, everyone. The chart on the left represents our sales division by segment. The architecture solution segment contributed 79% of total sales, while the trading goods contributed 21%. Looking at the sales breakdown by customers, traditional retail outlet generated 92% of total sales, while modern retail outlet accounted for around 8%. Moving on to sales breakdown by distribution network, wholly owned distribution center accounted for 89% of total sales. This allowed the company to maintain its operational and strategic flexibility, enabling us to proactively adjust our course in response to the ever-changing market dynamics. In Q3, consolidated gross profit was reported at IDR 776 billion, marking an increase of 11.2% compared to the same period last year. The gross margin for the quarter was 43.5%. For the nine months, consolidated gross profit increased by 5.4% year-on-year, reaching IDR 2.4 trillion, with a 44.5% gross margin.
During Q3, the majority of raw material prices remained relatively stable. The company is closely observing key factors that could impact our margin, including raw material prices, fluctuation in the US dollar and IDR exchange rate, and other economic dynamics. In Q3, the company reported a consolidated EBITDA of Rp 427 billion, with a 24% EBITDA margin. For the nine months, consolidated EBITDA reached over Rp 1.4 trillion, with an EBITDA margin of 26.5%. The reported net profit for Q3 amounted to Rp 352 billion. The net profit margin for the quarter was 19.7%. For the nine months, net profit was registered at over Rp 1.1 trillion, with a 21.5% net profit margin. With persistent economic challenges and intensifying competition, the company is maintaining its aggressive marketing initiative in order to boost market share gain. This led to a decline in EBITDA and net profit margin.
Please note that the company is taking a cost-conscious approach to careful management of their marketing expenses. By closely monitoring the market trends, we can strategically adjust our approach to ensure efficiency and maximize the impact. In Q3, Avian Brands achieved a 12.1% increase in volume compared to the same period last year. The growth was primarily driven by the double-digit growth in the wall segment, followed by high single-digit growth in the wood and metal and waterproofing segment. Over the nine months, volume increased by 3.7% year-on-year, keeping us on track to achieve our full-year 2024 guidance. Avian Brands is strongly focused on executing our sustainable growth strategies. We are launching multiple initiatives designed to build strong loyalty among painters. We believe this program, supported by our integrated technology system, will help us grow amidst pressured market conditions and achieve even stronger growth when the market improves.
Please be assured that we continue to be aggressive in acquiring market share from other competitors. Throughout the nine months of 2024, the company recorded transactions from over 51,000 retail outlets, indicating an increase in more than 1,300 retail outlets compared to the same period last year. We have a strong relationship with our customers and will continue to preserve this relationship in the long term. Over the years, the company has remained focused on elevating our service quality to support our customers and deliver even greater value to them. Displayed to the right is an image taken at the company's customer catering event in August. This catering is part of the company's ongoing effort to ensure continued engagement with all its customers. The trading goods segment continued to deliver double-digit growth, achieving 18.7% year-on-year growth in Q3, amounting to Rp 432 billion.
For the nine months, total sales for this segment grew by 17.7% compared to the same period last year, reaching over IDR 1.1 trillion. This strong performance in the trading goods segment can be attributed to the more favorable competitive landscape, allowing Avian Brands to achieve higher sales growth. During the first nine months of this year, the trading goods segment recorded transactions from almost 47,000 retail outlets, representing around 84% of our total consolidated customers. In Q3, the architecture solution segment delivered IDR 660 billion gross profit, resulting in a 48.8% gross margin for the quarter. During the nine-month period, the gross profit was recorded at IDR 2.1 trillion, with a 50.8% gross margin. Regarding the trading goods segment, the gross profit for Q3 increased to IDR 116 billion, with a 26.7% gross margin. Over nine months, the gross profit reached IDR 247 billion. During the same period, gross margin was recorded at 21.3%.
The increase in gross profit for the trading goods segment was driven by strong sales performance. In addition, the company was awarded a performance bonus from the principal for the segment's strong result, which positively impacted the gross profit. The bonus for the first nine months was recognized in Q3, thereby contributing to the significant rise in gross profit for the quarter. I will now pass to Pak Robert to continue the presentation.
Thank you, Pak Hadik. And good afternoon, everyone. This page showcases the company's well-managed cost structure for the nine-month period of 2024. The increase in sales and marketing expenses is driven by the company's intensified marketing efforts. Raw material prices show a relative stable trend throughout the year. Additionally, the company is ramping up its promotional activities, contributing to the increase in PT Avian marketing expenses. Our fiscal position remains strong, underpinned by healthy cash flow and disciplined working capital management. The company maintained a stable working capital during the nine-month period, covering around 30% of total sales. Total capital expenditure for the period was 4.5%. Routine CapEx accounted for around 3%, and around 1% was allocated for the construction of the company's third factory. Avian Brands has a strong free cash flow, accounting for around 16% of the total sales.
The company continues to uphold its commitment to distributing a minimum of 50% dividend payout ratio. At the same time, we are keeping a close eye on the merger and acquisition opportunities. The chart on the far right illustrates the company's consistent on-time collection of account receivable. Despite a difficult economic environment, the company was able to maintain over 90% on-time collection of account receivable. Retail outlets continue to prioritize Avian Brands in terms of payment. In December 2023, the company launched a share buyback initiative, allowing for the repurchase of up to Rp 1.4 billion shares, with a maximum allocated fund of Rp 1 trillion. Until September 2024, the company has acquired around 53% of the maximum shares, utilizing around 40% of the total allocated fund. The remaining authorization stands at around Rp 667 million shares, with an available budget of around Rp 602 billion.
The company remains committed to executing the share buyback program in alignment with its strategic objectives. We believe we are on track to meet the lower end of our full-year 2024 guidance. By prioritizing the execution of our sustainable growth strategies, we are well-positioned to navigate the current market pressures and continue to drive market share gain. The company is taking a proactive approach to ensure we remain competitive and agile in the ever-changing business environment. That concludes our Q3 2024 presentations. Thank you very much for joining today's call.