Jakarta, 28 March 2024 – PT Sinar Eka Selaras, Tbk. (ticker code: ERAL) has announced its financial report for the financial year 2023, which shows a 22.8% YoY increase in net sales to IDR 3.73 trillion from IDR 3.04 trillion the previous year. The company's net profit for the year attributable to owners of the parent company was IDR 211 billion, with a net profit margin of 5.7% in 2023, due to a retail network expansion strategy and new business portfolio.
The following are summaries of ERAL's financial results for the financial year 2023:
· Revenue grew by 22.8% to IDR 3.73 trillion.
· Gross profit margin was 13.7% in 2023.
· Net profit for the year attributable to owners of the parent company was IDR 211 billion, with a net profit margin of 5.7% in 2023.
· Launched two new brands to Indonesia: 6IXTY8IGHT and MST Golf.
· Added 56 new outlets, reaching 116 retail stores at the end of 2023.
“Focusing on the expansion and productivity of current businesses, including Urban Republic, Garmin Brand Stores, DJI Experience Stores, JD Sports, and others, led to higher net sales in 2023. Furthermore, business performance improved in the fourth quarter, primarily due to high demand during the year-end holidays and the extensive launch of numerous new products, which raised people's interest to shop for the latest lifestyle products as trends change dynamicaly. As the leading active lifestyle retailer in Indonesia, we are going to keep exploring new and unique brands that have the potential to be developed for the Indonesia market so they can make a positive contribution to the Company,” explained Djohan Sutanto, President Director of PT Sinar Eka Selaras, Tbk.
Bringing two new brands to Indonesia, 6IXTY8IGHT and MST Golf, is one of ERAL's business initiatives in 2023. MST Golf Indonesia is a collaboration between ERAL and MST Golf Group Bhd., a well-known golf retailer in Malaysia, and 6IXTY8IGHT is a Hong Kong-based fashion apparel brand.
ERAL has been consistently to involve communities from various categories in order to grow together and gain better understanding of customer needs. This strategy is also effective for both retaining existing customers and attracting new ones. Throughout 2023, the Company hosted more than 200 active lifestyle community events with various brands under its management, including DJI, GARMIN, and Urban Republic, which were attended by over 39,000 participants. The Company has hosted several community activities, including the URmazing Run 2023, the Garmin Morning Ride, the DJI Workshop & Sunset Catching, and other events.
Throughout 2023, ERAL has added 56 new outlets, bringing the total number of stores to 116 by the end of 2023. ERAL continues to work on areas with potential for development, such as outside of Java, with 35 stores spread across in Medan, Denpasar, and Makassar. The company is optimistic that the demand for active lifestyle products would continue to rise beyond Java.
For further information, please contact:
Badar Teguh
Corporate Secretary PT Sinar Eka Selaras Tbk
Tel. : +62 21 690 5788
Email : [email protected]
Didit Erlangga
Corporate Communications Erajaya Group
Tel. : +62-21 690 5788
Email : [email protected]