ERAA – Expects better performance on higher productivity

ERAA – Expects better performance on higher productivity Erajaya Self-Sufficiency (ERAA) expects better performance on higher productivity and projects SSSG growth between 5% qoq to double digits in 2Q24 due to increasing sales during the long holidays. ERAA has opened 66 new stores in 1Q24 from the target of opening 200 stores this year. The slower expansion of store openings compared to last year will increase productivity, especially in new brands or store formats such as iBox, Samsung and Erablue. Note that, ERAA posted revenue of IDR16.64 tn (+12.6% yoy) in 1Q24. Smartphone sales, which contributed 81.6% to 1Q24 revenue, increased by 25% yoy, reflecting an increase in low-end products by 17.8% yoy and mid-range products by 73.4% yoy. Furthermore, ASP fell 9.4% yoy because sales of smartphones with affordable prices were higher. (Source : Kontan)