Jakarta, 1 November 2023 – PT Sinar Eka Selaras Tbk (ticker code: ERAL) announced its financial report for the nine month period of 2023 with positive achievements. The Erajaya Group subsidiary, which focuses on marketing, distribution and retail network activities for active lifestyle products, managed to record an increase in net sales by 26.6%.
Some financial performance highlights are as follows:
- Revenue grew by 26.6% to IDR 2.7 trillion
- Gross profit margin of 13.9%
- Net profit for the year attributable to owners of the parent entity amounted to IDR 164.3 billion.
Djohan Sutanto, President Director of PT Sinar Eka Selaras Tbk (ERAL), said "We maximized positive momentum throughout the first nine months of 2023, such as back-to-school holidays and greater frequency of lifestyle events due to endemic transition. All of this momentum has contributed positively to the company's performance. We achieved Rp2.7 trillion in net sales during this period, a 26.6% increase over the same period last year. Furthermore, net profit attributable to parent company reached Rp164.3 billion from Rp160.3 billion in the same period last year. The company's robust growth has been supported by retail channel expansion, with 37 new stores opening during the nine months of 2023. Certainly, this expansion is in line with our aim to increase our presence in the domestic market."
Until the end of September 2023, ERAL retail channels have reached 100 stores, consisting of 58 multi-brand stores and 42 mono-brand stores, including additional stores from the sports fashion sector such as JD Sports and ASICS. ERAL also provided online shopping experiences through livewithit.id and urbanrepublic.id, and sports fashion apparel could be purchased from jdsports.id. Furthermore, ERAL has cooperated with three marketplace platforms, Tokopedia, Shopee, and Blibli, to open official shops on each platform. Therefore, customers could enjoy a seamless buying experience within the extensive network of omni-channel coverage.
ERAL has a diverse collection of reputable brands across a variety of retail products. Apple, Samsung, Huawei, Xiaomi, Playstation, Microsoft, JBL, and other firms are included in the Accessories (ecosystem) segment. Meanwhile, brands in the Internet of Things, or IoT, segment include DJI, Garmin, GoPro, Marshall, Segway, and others. JD Sports, ASICS, and Urban Adventure brands are included in the sportswear, fashion, and outdoors segments.
ERAL is currently developing its private label IT (Immersive Tech) for accessory products, smarthomes, IoT devices, and their ecosystem. ERAL established its first IT (Immersive Tech) outlet on August 29, 2023, selling a variety of products like accessories, smarthomes, and other supporting devices. The launch of the first store in Surabaya is a significant milestone for the company in introducing its private-label products to loyal customers.
The company is optimistic about the demand for active lifestyle products, which have a great potential in the domestic market due to rising awareness of adopting an active lifestyle, particularly among Indonesia's younger population. ERAL takes use of the growing number of community-based events, particularly those oriented on active lifestyles, to build communication and introduce products that the company offered through its retail network.
"The existence of a community is very important for us because it allows us to directly receive consumer input and gain a better understanding of their needs. As a result, we always aim to strengthen our bonds with the community and flourish together. At the same time, we also continue to develop our active lifestyle brand portfolio in order to capture new opportunities in the domestic market through offering a comprehensive product portfolio to loyal customers and improve the company's performance going forward," Djohan said.
Djohan continued, "The company will continue to develop its active lifestyle business through expanding its retail network, enriching its active lifestyle brand portfolio and maximizing the omni-channel capabilities of the Erajaya Group to support the company's business growth. We are confident to contribute positively to Erajaya Group by capitalizing the huge potential of the lifestyle retail sector."
Previously, the company held an initial public offering (IPO) on the Indonesian Stock Exchange on August 8, 2023. The company succeeded in obtaining fresh funds from the capital market of IDR 404.6 billion.
For further information, please contact:
Corporate Secretary PT Sinar Eka Selaras Tbk
T: +62 21 690 5788