CUCKOO International (MAL) Sdn Bhd (CUCKOO International) has recorded RM185.5 million in profit after tax (PAT) for the calendar year ending 31 December 2021, delivering its seventh consecutive year of topline growth amidst a challenging market backdrop with a 44% year-over-year increase from 2020.
Coming off a record-breaking year, CUCKOO International is optimistic about its 2022 prospects with solid business strategies in the pipeline to create more healthy home solutions for Malaysians to live healthier and happier.
At the end of the fiscal year 2021, CUCKOO International achieved over RM1.13 billion in revenue in the Malaysian market, largely driven by positive growth and key product launches in the same year.
The overall solid financial results in the past year, combined with CUCKOO International’s commitment to pushing the boundaries of its capabilities, empowered over 1.4 million homes and 4.7 million household users with healthier solutions that are Beyond Standards.
At the same time, the company has established more than 640 branches nationwide since its inception in 2014
Commenting on the company’s performance for the year, CUCKOO International Founder & CEO, KC Hoe (Hoe Kian Choon), said, “Our strong finish to fiscal 2021, including record-setting revenue growth, is propelled by strong demand of Malaysians preference towards healthier offerings/solutions made affordable and accessible through our flexible subscription model concept. To meet this demand, we have developed various subscription plans under the GOOODPLAN™ to provide customers with a variety of affordable payment options that enabled a low barrier to entry. In fact, more than 90% of our customers subscribed to rental-based services, which has further accelerated our business momentum and growth across the country.”
In line with the company’s mission to become the No. 1 Healthy Home Creator in Asia, CUCKOO International continues to develop Beyond Standards products and services through its four strategic pillars to innovate the way we rethink health and restart homes with better quality of life. The different aspects of what makes a healthy home are categorised into four Healthy Home ‘pillars’.
- The first Healthy Home pillar, known as the ‘Healthy Appliances’ pillar is dedicated to developing and introducing healthy appliances. This includes the CUCKOO PRIME X3 Outdoor Water Filter that was launched in 2021 through continuous improvement in its research and development initiatives.
- Aptly named the ‘Healthy Lifestyle’ pillar, it is the second Healthy Home pillar under CUCKOO International with a focus to elevate the beauty standard and lifestyle of Malaysians. Leading the pillar is WonderLab Group and its beauty & wellness brands, WonderLab & WonderDewi, featuring its range of skincare, cosmetics and nutritional beverages with total revenue of RM10 million in 2021 and is expected to grow steadily this year.
- At the peak of the pandemic, CUCKOO International introduced the WonderKlean brand under the third Healthy Home pillar, the ‘Healthy Home Care’ pillar, aiming to provide professional home care services with its specialised service team – the CUCKOO+ Service Team, which has seen the pillar’s revenue growth leapt over 130% from RM2.3 million to over RM5.3 million in 2021.
- The latest and fourth Healthy Home pillar, the ‘Healthy Living’ pillar, focuses on reinforcing the company’s position as the Healthy Home Creator through strategic collaborations with local enterprises. Launched in early 2021, the pillar sees great growth potential with an exceptional 7 million revenue generated from a single product, a bedding range that was co-created with LSK Napure.
Additionally, CUCKOO International and homegrown air-conditioning manufacturer Fujiaire Global Sdn Bhd (Fujiaire) has inked a Memorandum of Agreement (MoA) to create a comfortable indoor atmosphere for Malaysians. The strategic partnership with Fujiaire also allows CUCKOO International to expand its fourth Healthy Home pillar, Healthy Living.
This strategic partnership will see both parties leveraging the expertise of each other in the development of the air-conditioning system and is projected to bring in over RM40.7 million in revenue under the Healthy Living pillar in the next year. As a result, CUCKOO International will be providing over 66,000 Malaysians in the next year with cleaner and cooler air, which is also a key element towards having a comfortable and cooling indoor air environment and healthier living.