Ecocare Indo Pacific (HYGN) Aims for 25% Growth

ISSUER - JAKARTA. PT Ecocare Indo Pasifik Tbk (HYGN), a hygiene and sanitation service company, is targeting growth in revenue and net profit of around 20%-25% annually. 

Ecocare Indo Pasifik's CEO, Wincent Yunanda, said that HYGN's performance is primarily supported by three business lines, namely cleaning product services, pest control services, and building cleaning services. 

HYGN controls about 30% of the market share in the hygiene solution industry. In line with this, HYGN has 10,000 customers spread across more than 20 cities. 

To boost financial performance, HYGN will expand by adding new branch offices. Especially after Ecocare successfully raised fresh funds of IDR 76.12 billion from the Initial Public Offering (IPO). 

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"We plan to use these funds to establish new branches nationally, adopt digital and enhance digital support, and acquire new asset inventory," explained Wincent, on Tuesday (13/2). 

The plan is for HYGN to add three new branches soon in tier 2 and tier 3 cities. Wincent said HYGN will enter Pekanbaru, Lampung, and Banjarmasin. 

"We will increase penetration in tier 2 and tier 3 cities that we have not yet entered by opening branch offices and adding sales force," he said. 

HYGN also has plans to work on the market of the Capital City of the State (IKN) Nusantara. However, HYGN's business can only run if there are already standing buildings. 

In fact, HYGN already has branch offices in Samarinda and Balikpapan, making it easier to enter IKN. Even so, Wincent said they are still waiting for the development of IKN in the future.