PT Mitra Keluarga Karyasehat (MIKA) Q3 2024 earnings summary

Executive summary

• Revenue for the nine months ended September 2024 grew 14.6% year-over-year to Rp3.62 trillion, with net income up 26.3% to Rp937 billion and net profit attributable to owners at Rp872.89 billion.

• Operational expansion included 30 hospitals, 4,008 operational beds, and 8,999 permanent employees as of September 2024.

• Total assets increased to Rp7.91 trillion as of September 2024, with total equity rising to Rp7.07 trillion.

• Maintained high EBITDA margin at 37.7% and improved ROIC to 38.4%, reflecting operational efficiency.

• The group operates hospitals and healthcare services across major Indonesian cities.

Financial highlights

• EBITDA increased 21.3% year-over-year to Rp1.36 trillion, with margin at 37.7%.

• Gross profit margin improved to 53.6%–53.7% year-over-year.

• Net income attributable to equity holders rose 27.2% to Rp873 billion, with EPS up 34% to Rp65.74.

• Cash and cash equivalents grew 15% to Rp1.48 trillion, and cash flows from operations reached Rp1.22 trillion.

• Total equity attributable to owners rose to Rp6.22 trillion, with a debt-to-equity ratio of 0.14x.

Outlook and guidance

• Strategic plan for 2024 includes construction of three new hospitals and addition of 250–300 operational beds.

• Focus on expanding complex medical services, including cancer centers and women's & children's clinics.

• Pipeline of up to 1,500 new beds in development, with further capacity expansion planned through 2026.

• Several construction projects underway, expected to complete in 2024–2025.

• No impairment losses recognized on goodwill or fixed assets, supporting a stable outlook.