IMPC registered a remarkable growth during Q2 YOY, revenue grew by 42% to Rp505 billion from Rp356 billion of last year and net income turned from a net loss of (Rp-30 billion) to Rp42 billion profit.
During first semester 2021, we achieved revenue of Rp1,058 billion compared to Rp768 billion last year; a growth of 38%. Net income grew from Rp29 billion last year to Rp104 billion in 2021, a growth of 253%.
Last year our First semester result was greatly impacted by the Covid-19 pandemic, when all our operating units from NZ to Vietnam experienced a strict lockdown thus impacting operations and sales activities.
This year, our Malaysian units was affected by the strict MCO during the month of June, however other units were still able to operate almost normally.
With cautious forecast, we still maintain our full year target of revenue Rp1.9 trillion and net income of Rp165 billion.
Remaining of the year challenges are fluctuations of raw materials prices which could affect our gross margins and the risk of worsening covid-19 situation.
Our commitment to improve EBITDA ÷ Interest cover ratio (8.60 achieved as of June 30th 2021 vs 3.71 of June 30th 2020), demonstrated our strong positive cash flow.
Our expansion plan in east Java is also on track, and should start to contribute to an increased revenue for our year 2022 target.
