Jakarta, 19 June 2024 – PT Erajaya Swasembada, Tbk. (“Company”), has held Annual and Extraordinary General Meetings of Shareholders. The Annual GMS approved the distribution of cash dividends amounting to IDR 268.32 billion as well as the appointment of Richard M Harjani as Commissioner of the Company.
The total dividend distributed by the Company is IDR 17 per share or around 32.48% of the profit for the year attributable to the owners of the Company's parent entity. Dividends shall be issued to shareholders in compliance with applicable regulations, no later than 30 days after the Annual GMS summary minutes are made public.
Richard M Harjani's appointment as Commissioner of the Company is effective from the closing date of the Annual GMS until the end of the term of office of the other Board of Commissioners of the Company, i.e. until the closing of the Company's Annual GMS for the 2026 fiscal year, which will be in 2027.
Thus, the composition of the Company's Board of Commissioners is as follows:
Company Performance
Throughout 2023, the Company expanded its retail network by opening 629 new outlets. Supported by the momentum of the year-end holidays and the launch of new products, the Company succeeded in recording net sales growth of 22% to IDR 60.1 trillion in 2023, this achievement resulted in a profit after tax attributable to the owners of the parent entity of IDR 826.1 billion.
This positive trend continued in the first quarter of 2024 with encouraging achievements in the form of an increase in net sales to IDR 16.6 trillion or around 13% compared to the same period last year. This performance was also reflected in the net profit attributable to owners of the parent entity which was recorded to have increased by 8% to IDR 255 billion. This increase in profitability is in line with the Company's strategy to increase the productivity of the Company's outlets and is driven by the momentum of Ramadan.
Until the end of March 2024, the Company continue to expand its business portfolio through four business verticals: Erajaya Digital, Erajaya Active Lifestyle, Erajaya Food & Nourishment, and Erajaya Beauty & Wellness. This is accomplished by introducing new retail brands, such as MST Golf and 6IXTY8IGHT, which belong into the Erajaya Active Lifestyle business vertical. In June, the Erajaya Food & Nourishment business vertical introduced Bacha Coffee and Curry Up to the Indonesian marketplace.
As of the end of March 2024, the company had 2,095 stores across Indonesia, Malaysia, and Singapore, supported by 77 distribution center.