Jakarta, 31 July 2024 - PT Erajaya Swasembada, Tbk. (ticker code: ERAA) released its financial report for the first half of 2024 (1H24), booked a 14.2% YoY rise in net profit attributable to parent entity as a positive achievement. Maintaining the upward momentum from the previous period, the Company recorded a 14.6% YoY increase in net sales, which contributed to a net profit of IDR 523.6 billion that could be attributed to the parent company's owners until 1H24.
Key highlights of financial and business performance can be seen as follows:
- Net sales were recorded at IDR 33.1 trillion, up 14.6% from IDR 28.9 trillion during the same period last year
- Gross profit increased 16.2% to IDR 3.6 trillion, with a 10.8% gross profit margin, in line with the rise in sales.
- Net profit attributable to Owners of the Parent Company 2%, amounting to IDR 523.6 billion.
- Based on the decision at the Annual General Meeting of Shareholders on June 19 2024, the Company distributed cash dividends amounting to IDR 268 billion or IDR 17 per share which was distributed on July 19 2024.
Hasan Aula, Vice President Director of PT Erajaya Swasembada, Tbk, said, "The company achieved positive results during the first semester of 2024, due to a number of initiatives to increase the productivity optimization of retail stores that have opened in the last two years,." Additionally, we ensure that the product line offered by our retail outlets, especially related to handset and accessories, can meet the various lifestyle needs of the customers and take advantage on events like school holiday."
Business segment of cellular phones and tablets still took the biggest share with 82% contribution to total sales. This contribution was followed by the accessories and others segment at 12%, while computer and other electronic equipment segment at 4% and the operator products segment at 2%.
In the last 2-3 years, the Company has continued to develop its business portfolio by introducing new retail brands and expanding its retail network. In the second quarter of 2024, ERAA has successfully brought Bacha Coffee and Curry Up, two new retail brands under the Erajaya Food & Nourishment business vertical. Bacha Coffee is a luxury coffee retail & restaurant from Morocco with its first outlet opened at Plaza Senayan, Jakarta, while Curry Up is a local retail brand that focuses on curry menus with its first outlet located at ASHTA District 8, Jakarta.
Throughout first half of 2024, the Company has opened 123 new retail outlets from the target of 200 new retail outlets in 2024. As of June 30 2024, Erajaya Group has 2,113 retail outlets operating in Indonesia, Malaysia and Singapore and supported by 78 distribution centers and more than 53,000 third party retail outlets.
The Company's has utilised IDR 348 billion for capital expenditure during 1H24, while capital expenditure usage in the same period in the previous year reached IDR 472 billion. Capital expenditure mostly used for retail expansion.
The Directorate General of Customs and Excise also granted the company an Authorized Economic Operator (AEO) certification, proving its integrity and accountability in doing business. This certificate is a recognition of the national economic contribution made by the Erajaya Group.