Jakarta, June 13, 2024 – PT Global Digital Niaga Tbk (the “Company”; IDX: “BELI”), a pioneer and leading omnichannel commerce and lifestyle ecosystem in Indonesia focusing on serving digitally connected retail and institutions consumers, today successfully held an Annual General Meeting of Shareholders (“AGMS”) for the financial year 2023, which then followed by an Extraordinary General Meeting of Shareholders (“EGMS”) in Jakarta (13/6).

Kusumo Martanto, CEO & Co-Founder Blibli, mentioned that amidst the business challenges throughout 2023, the Company has consistently strived to create various breakthroughs and innovations to optimise margin, cost leadership, and ecosystem excellence. Thus, the Company successfully closed the financial year 2023 with growing business performances positively and impacted to healthier financial performance. 

“The Company’s primary focus of attention in order to enhance competitiveness and sustain business growth is through adapting to changes and dynamics in the digital industry, particularly in the e-commerce and online travel agent sectors. Therefore, the business strategies and strategic policies implemented by the Company emphasize the expansion of product selections, services enhancement, technological development, omnichannel innovation, cost leadership, and the development of potential synergies within the integrated Blibli Tiket ecosystem. The Company believes that the successful implementation of these strategies has positively contributed to an improvement of customer shopping experience, which in turn will contribute positively to improve the customers’ shopping experience, and ultimately will improve the Company’s business performance and provide added value to all stakeholders,” as he discussed the state of business activities as part of the Annual Report discussion.

Kusumo highlighted the Company’s achievements were also marked by various important milestones throughout 2023, which included the Company’s efforts to strengthen its omnichannel strategy through continuous expansion of physical stores in collaboration with leading global brand principals. This is done to provide customers with greater freedom and flexibility to interact and make purchases within the Blibli Tiket ecosystem both online and offline. On the operational side, the Company has also started implementing automation in various processes, including the use of artificial intelligence. Further, the Company also continued to encourage cross-selling between its three main platforms (Blibli, tiket.com, and Ranch Market) including the launch of a unified loyalty program – Blibli Tiket Rewards, which has been integrated across all platforms in the Company’s ecosystem.

During the AGMS, the Company’s shareholders approved and ratified the Board of Directors’ Report on the Company’s Annual Report, which includes the business activities report and the Company’s financial performance report for the financial year ended December 31, 2023.

The Company accomplished positive financial performance, where the Company’s consolidated gross profit in 2023 was recorded at Rp2.4 trillion, an increase of 97% compared to the consolidated gross profit in 2022, which was recorded at Rp1.2 trillion. This reflects a year-on-year improvement of consolidated gross margin performance by 830-bps from 8.0% in 2022 to 16.3% in 2023. Meanwhile, in terms of operational expenses, the Company recorded total consolidated operating expenses of Rp6.0 trillion in 2023, lower by 4% compared to consolidated operating expenses in 2022, which were recorded at Rp6.3 trillion. Hence overall, the Company recorded a decrease in consolidated net loss for the year by 34% to Rp3.7 trillion in 2023.

During the AGMS, the Company has also conveyed a report regarding the realisation of the use of proceeds from the Company’s initial public offering up to December 31, 2023. The Company’s shareholders also approved some of the other agendas, including:

  • Granted the power and authority to the Company’s Board of Commissioners to determine the salary and other benefits of the Board of Directors and determined the honorarium and/or other benefits of the Company’s Board of Commissioners for the financial year 2024.
  • Granted the power and authority to the Board of Directors with the approval of the Board of Commissioners to appoint a Public Accountant and/or Public Accountant Firm with competence and experience, independent of the Company and registered with the Financial Services Authority to audit the Company’s financial statements ends on December 31, 2024; and
  • Approved the changes in the composition of the Company’s Board of Commissioners by appointing Mr. Suryadi Sasmita as the Company’s new Independent Commissioner.

Meanwhile, during the EGMS, the Company has also obtained approval from the independent shareholders to conduct a Capital Increase Without Pre-emptive Rights (Penambahan Modal Tanpa Hak Memesan Efek Terlebih Dahulu (”PMTHMETD”) through new share issuance with a maximum of 7.63% (seven-point six three percent) of the Company’s issued and paid-up capital, consisting of:

  • Issuance of new shares in the framework of the Company’s management and employee stock option plan (“MESOP Program”) with a maximum amount of 4,500,000,000 (four billion five hundred million) shares or 3.65% (three-point six five percent) of the Company’s issued and paid-up capital; and
  • Issuance of new shares without pre-emptive rights other than in the framework of MESOP Program (“Capital Increase Other Than MESOP Program”) with a maximum amount of 4,900,240,527 (four billion nine hundred million two hundred forty thousand five hundred twenty-seven) shares or 3.98% (three-point nine eight percent) of the Company’s issued and paid-up capital.

“The Company expresses its highest appreciation for the continuous trust and support of all of the Company’s shareholders to date. Going forward, the Company will evaluate and innovate continuously its business strategies and strategic policies by considering the dynamics of the economy, technological advances and customer needs,” closed Kusumo.