This is one of the companies that is still profiting despite pandemic in Indonesia. The company was established more than 20 years ago, started in West Jakarta, Indonesia. Currently have 87 Distribution Centers and 1096 Retail Outlets as of 30 June 2020 across Indonesia. The company brand name is Erajaya.

Company Information

ERAA Cover

Erajaya’s company name is Erajaya Swasembada Tbk (ERAA). ERAA is a distributor and retailer of cellular communication products and services. ERAA is also acknowledged as the largest and most trusted in its business in Indonesia. Currently, Erajaya engages in the distribution and retail of mobile telecommunication devices, such as mobile phones and tablets, subscriber identity module card (SIM Card), mobile network operator voucher top-up, accessories, Internet of Things (IoT) devices and Google Play Card voucher. The company also offers Value Added Services, such as mobile phones protection services through TecProtec and handset leasing service in colaboration with credible multifinance companies in Indonesia.

Majority of shares is held by PT Eralink International (54.51%). the President of Commissioner is Ardy Hady Wijaya, and Budiarto Halim as the President of Director. ERAA IPO-ed on 14 Dec 2011 with initial price of IDR 1000/share, the sole underwriter was PT Buana Capital.

Key Financial Statistics

Pictures provided.

ERAA Financial Statements
ERAA Financial Ratios

Highlights of 2020

  • Net Income IDR 14.46 T for first semester of 2020.
  • Revenue from Phone Cellular dropped 10.33% to IDR 10.76T
  • Revenue from Voucher increase 8.6% to IDR 2.14T
  • Revenue from computer segment increase to IDR 575.2 B
  • Revenue of Accessories and others increase to IDR 987.9 B
  • Revenue top contributors still Samsung for 24.29%, Apple 16.86%, Xiaomi 12.25%.

Target Price

Trimegah SecuritiesBuy Rating2.000
RHB ResearchBuy Rating1.450
Panin SekuritasHold Rating1.560
Mandiri SekuritasBuy Rating1.500
BNI SecuritiesBuy Rating1.950
Yuanta SecuritiesHold Rating1.380
Kresna SecuritiesBuy Rating1.830
BCA SekuritasBuy Rating1.800
Ciptadana SekuritasBuy Rating1.620
HopemityBuy Rating1.850
ERAA Target Price


Industry 4.0 require every individual has their own device. The needs to stay update in tech is important nowadays. That’s why the business of ERAA will keeps growing, the key is to enlarge the distribution channel to fulfill the demand of Indonesia’s market.

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