ERAA – New iPhone 16 to boost performance

ERAA – New iPhone 16 to boost performance Erajaya Swasembada (ERAA) as the official distributor of iBox in Indonesia, expects to post a positive performance in 4Q24 due to the new iPhone 16. iPhone sales has consistently supported ERAA' performance throughout the years, except in 2020, it was around 0.34-0.47% of the COGS of the mobile phone segment. Towards the end of this year, ERAA's promotional costs are also expected to increase as weaker purchasing power from the middle class. ERAA also increased its target on handset sales to 11.2 mn units (+11.8% yoy) this year. In 1H24, ERAA' handset sales reached 5.8 mn units with its total revenue and net profit reached IDR33.11 tn (+14.60% yoy) and IDR523.57 bn (+14.15% yoy), respectively. (Source : Bisnis Indonesia)