economy

Erajaya Group Distributes Dividends Amounting To Rp 268.32 Billion

PT Erajaya Swasembada, Tbk. ("the Company") has held its Annual General Meeting of Shareholders and Extraordinary General Meeting. The Annual General Meeting approved the distribution of cash dividends amounting to Rp268.32 billion and the appointment of Richard M Harjani as a Commissioner of the Company.

The amount of dividends distributed by the Company is Rp17 per share or approximately 32.48% of the current year's profit attributable to the owners of the Company's parent entity. Dividends will be distributed to shareholders in accordance with applicable regulations, namely no later than 30 days after the summary of the Annual General Meeting minutes is announced to the public.

The appointment of Richard M Harjani as a Commissioner of the Company is effective from the closing date of the Annual General Meeting until the end of the term of the other members of the Board of Commissioners of the Company, which is until the closing of the Company's Annual General Meeting for the 2026 fiscal year, to be held in 2027.

Therefore, the composition of the Company's Board of Commissioners is as follows:

Board of Commissioners:

President Commissioner: Ardy Hady Wijaya

Commissioner: Richard Halim Kusuma

Independent Commissioner: Lim Bing Tjay

Independent Commissioner: I Gusti Putu Suryawirawan

Commissioner: Andreas Harun Djumadi

Commissioner: Richard M. Harjani

The Company's Extraordinary General Meeting has also approved the extension of the transfer of a portion of the Company's Treasury shares for the Management and Employee Stock Ownership Program ("MESOP") with a maximum of 51,540,500 shares or 0.32% of the fully paid-up and issued capital of the Company.

Throughout the year 2023, the Company expanded its retail network by inaugurating 629 new outlets. Supported by the year-end holiday momentum and the launch of new products, the Company successfully recorded a 22% increase in net sales to Rp60.1 trillion in 2023. This achievement resulted in a post-tax profit attributed to the parent entity owners of Rp826.1 billion.

This positive trend continued in Quarter I of 2024 with a pleasing achievement of an increase in net sales to Rp16.6 trillion, or about 13% compared to the same period last year. This performance is also reflected in the net profit attributed to the parent entity owners, which increased by 8% to Rp255 billion. The increase in profitability is in line with the Company's strategy to enhance the productivity of its outlets and is driven by the Ramadan momentum.

By the end of March 2024, the Company, through its four business verticals namely Erajaya Digital, Erajaya Active Lifestyle, Erajaya Food & Nourishment, and Erajaya Beauty & Wellness, continues to develop its business portfolio. This is done through new retail brands such as MST Golf and 6IXTY8IGHT under the Erajaya Active Lifestyle business vertical. This month, the Erajaya Food & Nourishment business vertical has also introduced Bacha Coffee and Curry Up to the Indonesian market.

As of the end of March 2024, the Company has 2,095 outlets spread across Indonesia, Malaysia, and Singapore, supported by 77 distribution centers.