PT Mitra Keluarga Karyasehat (MIKA) Q2 2025 earnings summary

Executive summary

• Net revenue for 1H25 reached IDR 2.56 trillion, up 4.5% year-over-year, with net income rising 6.0% to IDR 684 billion and a net margin of 26.7%.

• EBITDA rose 5.8% year-over-year to IDR 991 billion, maintaining a margin of 38.6%.

• Private patient revenue contribution strengthened to 87.9% in 1H25, reflecting a strategic focus shift.

• Total assets as of June 2025 stood at IDR 8.99 trillion, with equity at IDR 7.41 trillion and liabilities at IDR 1.58 trillion.

• Cash and cash equivalents more than doubled to IDR 2.24 trillion, reflecting strong operating cash flow.

Financial highlights

• Gross profit grew 6.4% year-over-year to IDR 1.4 trillion, with a gross margin of 54.7%.

• Operating income increased to IDR 805 billion, up from IDR 777.9 billion year-over-year.

• Basic EPS increased 6.6% year-over-year to 46.

• Cash dividend of IDR 43 per share (totaling IDR 598 billion) was distributed in June 2025.

• Net cash from operating activities was IDR 738 billion, with a 34.4% increase in cash position year-over-year.

Outlook and guidance

• Pipeline includes seven new hospitals with 1,400 additional beds planned, and 857 beds to be added in existing hospitals by June 2025.

• Capacity expansion CAGR projected at 4.5–4.8% from 2021–2025.

• Ongoing focus on expanding high-intensity specialty areas, integrated oncology services, and digital health platforms.

• Construction and renovation projects expected to complete in 2025-2026.

• Management maintains focus on capital efficiency, profitability, and strategic investment.