Sepeda Bersama Indonesia Sales (BIKE) Down 65% in Q1-2024

LISTED COMPANY - JAKARTA. PT Sepeda Bersama Indonesia Tbk, a local bicycle manufacturer also known as BIKE, reported a significant drop in sales for the first quarter of 2024. The company's sales plummeted by 65.5% to IDR 54.58 billion ($3.8 million), compared to IDR 158.2 billion (US$ 11 million) in the same period last year. 

According to the company's financial report, BIKE's sales were primarily driven by related party sales, particularly bicycles amounting to IDR 2.311 billion (US$ 161,000), baby strollers at IDR 60.04 million (US$ 4,200), and other items totaling IDR 630.5 million (US$ 44,000). Meanwhile, third-party bicycle sales reached IDR 49.5 billion (US$ 3.4 million), baby strollers IDR 1.96 billion (US$ 137,000), and other items IDR 103.16 million ($7,200). 

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