20240729_HYGN_Laporan Informasi dan Fakta Material_31688587_lamp2.pdf

PT ECOCARE INDO PASIFIK TBK (HYGN) ANNOUNCES ROBUST Q2 TOP LINE
         GROWTH & HIGHLIGHTS CORPORATE REBRANDING STRATEGY


JAKARTA, 29 JULY 2024 –PT Ecocare Indo Pasifik Tbk (“HYGN” or the “Company”), a trailblazer in
the hygiene services industry, is pleased to announce its financial results for second quarter ended 30
June 2024 (“Q2FY24”) which demonstrate significant revenue growth and strategic advancements
amidst a challenging economic landscape.


In the cumulative period ended 30 June 2024 (“1HFY24”), HYGN achieved a remarkable 33% year-on-
year (Y-o-Y) increase in revenue as compared to the same period in 2023 (“1HFY23”), driven by
strong performances across all three business divisions. Revenue from hygiene / sanitation services
rose by 13.2%, from Rp71.68 billion in 1HFY23 to Rp81.14 billion. Cleaning services saw a 71.5%
surge, from Rp29.13 billion last year to Rp49.97 billion, and pest control services experienced a 68.4%
increase, from Rp8.81 billion to Rp14.84 billion. This robust growth reflects the strong market demand
across all business segments, leading to a 24.1% YoY increase in operating profit, from Rp.4.64
billion in 1HFY23 to Rp.5.76 billion in the current 1HFY24 (excluding one off ESA / ESOP expense of
Rp 0.62 billion)


Despite the top line growth, margin and total comprehensive income ("PAT") decreased by 17.6% Y-
o-Y, from Rp6.48 billion in 1HFY23 to Rp5.34 billion in 1HFY24, primarily due to unfavourable sales
mix, higher expenses arising from listing and expansion initiatives, and reduced other income attributed
to differences in the sale of disposable assets and interest income. Excluding one-off expenses factors,
total comprehensive income ("PAT") would be higher than the corresponding period last year.


This quarter also marked a significant milestone for HYGN with the corporate rebranding of the
Company. The Company unveiled a refreshed corporate brand identity aimed at modernising its image,
uniting all services under the “Ecocare” flagship, and better reflecting its commitment to innovation and
sustainability.


Commenting on the financial results, Group Chief Executive Officer of HYGN, Wincent Yunanda,
remains optimistic about the Company's outlook for 2024 despite various macro-economic challenges,
"Our growth this year has been tremendous post IPO. All business segments are growing, and we have
successfully expanded into new markets such as Pekanbaru, Kupang, Bandar Lampung and Jambi. In
light of these growth and expansions, we have been actively hiring on a larger scale, utilising funds to
bring in new talents and recruits, which has impacted our profit margins. However, we are confident our
rebranding efforts, sales initiatives and strict cost control will boost growth even further in 2nd Half of the
year.”