PT Erajaya Swasembada Tbk, known by its ticker ERAA, is drawing attention as demand for premium Apple products continues to support sales. The company’s same-store sales growth reached 7.2% from January through May 2026.
The performance comes as the retailer manages the risk of a weaker rupiah, which can affect demand for higher-priced devices. Erajaya has built inventory earlier and provided promotional support to protect sales volumes.
Premium Devices Drive Store Sales
iPhone sales were among the major contributors to Erajaya’s same-store sales growth during the first five months of 2026. Jonathan Guyadi, an analyst at Samuel Sekuritas Indonesia, said demand for flagship devices remains intact.
Guyadi cited the iPhone 17 Pro Max as one premium model that continues to see strong demand. This appetite is important for Erajaya because premium products are central to its retail and distribution business.
The company operates the iBox store network, which focuses on Apple products. Earlier inventory purchases are intended to cushion the impact of exchange-rate weakness, although available information does not detail the size of the additional stock or the promotional programs.
Third-Quarter Earnings Outlook
Samuel Sekuritas Indonesia expects Erajaya’s momentum to become more visible in the third quarter of 2026. Guyadi projected that revenue would rise 4.8% year on year, while net profit would increase 53% year on year.
| Entity | Indicator | Performance or Projection |
|---|---|---|
| ERAA | Same-store sales growth, January-May 2026 | Up 7.2% |
| ERAL | Same-store sales growth | Up 10.8% |
| ERAA | Third-quarter 2026 sales projection | Up 4.8% year on year |
| ERAA | Third-quarter 2026 net profit projection | Up 53% year on year |
“We expect ERAA’s sales in the third quarter of 2026 to grow 4.8% yoy and net profit to increase 53% yoy,” Guyadi said in a research note cited by investor.id. The estimate is linked to an up-trading trend, with consumers moving toward handsets with higher specifications and prices.
Many brands have introduced more upper-tier models as they pass higher chip prices on to consumers. That shift gives premium device sales greater scope to support Erajaya’s growth.
Subsidiary Adds to Momentum
PT Sinar Eka Selaras Tbk, or ERAL, also contributed positively to the group’s sales trend. The active and lifestyle products company recorded same-store sales growth of 10.8%.
ERAL’s growth was supported by positive performance across all categories, including active lifestyle products. Its contribution broadens the group’s operational support beyond device distribution and retail.
High Comparison Base Remains a Factor
The outlook for the second quarter of 2026 is more restrained, with ERAA expected to post relatively flat performance from a year earlier. The comparison base in the second quarter of 2025 was high because it included delayed iPhone 16 sales from 2024.
Strong iPhone demand, improving store sales, and ERAL’s double-digit growth remain key operational catalysts. At the same time, rupiah weakness and the elevated comparison base remain important factors in assessing Erajaya’s performance.
ERAA shares have also been described as the cheapest in their sector, with a substantial valuation discount. The assessment adds a market valuation angle to the company’s premium-product-led sales outlook.