PT Medikaloka Hermina (HEAL) Q4 2024 earnings summary

Executive summary

• Operates 51 hospitals across 36 cities in Indonesia, focusing on women and children care with a differentiated model targeting the middle class and rising affluence.

• Consolidated financial statements for FY24 were audited with an unqualified opinion, confirming fair presentation in accordance with Indonesian Financial Accounting Standards.

• Management asserts responsibility for the accuracy and completeness of the financial statements and internal controls.

• Expanded network with four new hospitals in 2024, reaching 8,252 beds and over 8.8 million outpatient visits annually.

Financial highlights

• FY24 revenue reached IDR 6,717 billion, up 16.1% year-over-year, with net income rising to IDR 689.1 billion.

• EBITDA grew 19.3% to IDR 1,909 billion, with a margin of 28.4%.

• Bed occupancy ratio improved to 74% in FY24 from 68% in FY23.

• Outpatient visits rose 11.5% to 8.8 million, and inpatient days grew 17.9% to 2.04 million.

• Basic earnings per share attributable to equity holders was Rp36.11, up from Rp30.16.

Outlook and guidance

• Two new hospitals under development in Bali and Salatiga, with openings planned for late 2025 to early 2026.

• The company continues to expand its hospital network and invest in new facilities, with ongoing construction and asset acquisitions.

• Management maintains a focus on sustainable revenue growth and prudent capital management.