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CORPORATE STRATEGIC - JAKARTA. PT Sepeda Bersama Indonesia Tbk (BIKE) has set a revenue target of IDR 550 billion and a projected profit of IDR 30 billion for 2024.
This goal aligns with the company's satisfactory financial performance in the previous year. The company recorded sales of IDR 430.28 billion throughout 2023, a 90.54% increase compared to the previous year. Meanwhile, the net profit amounted to IDR 19.10 billion.
The surge in sales is attributed to the company's efforts in developing environmentally friendly electric vehicles. Since 2022, BIKE has collaborated with PT Terang Dunia Internusa Tbk in the procurement of electric bicycles (United Bike), which has seen a drastic increase in demand and has significantly contributed to the company's sales in 2023.
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Through this partnership, BIKE will also be appointed by PT Terang Dunia Internusa Tbk as the sole distributor to distribute United E-Motor electric motorcycles, United Bike bicycles, and electric bicycles, Genio and Avand.
At the Annual General Meeting of Shareholders (AGM) of BIKE on Thursday (16/5), BIKE's CEO Andrew Mulyadi stated that for the coming year, management is targeting a revenue of IDR 550 billion and a projected profit of IDR 30 billion.
“We believe that strong cooperation and focus on achieving the set targets will continue to develop BIKE and provide added value for all stakeholders,” Andrew revealed during the AGM held at United Grand Hall Alam Sutera, on Thursday (16/5).
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BIKE is also preparing strategies that have the potential to increase the company's revenue. One of them is by expanding through the opening of outlets in major cities in Indonesia.
“By 2026, we aim to open 100 retail stores per year spread across various regions of the archipelago. We also open retail agency opportunities for anyone who wants to start their business in bicycles, electric bicycles, and electric motorcycles,” added Andrew.
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To drive this expansion, BIKE is preparing a capital expenditure or capex of IDR 5 billion. This fund is for its expansion in presenting outlets and purchasing or maintaining electric bicycle production machines in 2024.
Andrew also targets electric bicycle sales to reach up to 100,000 to 150,000 units. Meanwhile, the realization of sales in 2023 alone reached 50,000 units of electric bicycles.
In addition to increasing production capacity, BIKE will also release several new products in July 2024. The price range of electric bicycles is in the range of IDR 11 million to IDR 12 million.
