Bangkok Dusit Medical Services (BDMS) Q4 2024 earnings summary

Executive summary

• Achieved strong financial and operational growth in 4Q24 and full year 2024, with notable increases in revenue, EBITDA, and net profit year-over-year.

• Growth driven by both Thai and international patient revenues, with international patient revenue up 11% YoY and Thai patient revenue up 5% YoY in 2024.

• Expansion projects underway, including new hospitals, rehabilitation, and proton therapy centers, targeting increased capacity and advanced care.

• Recognized for sustainability leadership, ranking in the top 1% globally for healthcare providers.

Financial highlights

• 2024 revenue reached THB 109,351 million, up 7% YoY; hospital revenue at THB 103,675 million, up 7% YoY.

• EBITDA grew 7% YoY to THB 26,584 million, with EBITDA margin stable at 24.3%.

• EBIT increased 8% YoY to THB 20,765 million; net profit rose 11% YoY to THB 15,987 million, with net profit margin at 14.6%.

• 4Q24 revenue up 4% YoY; net profit up 10% YoY.

Outlook and guidance

• Continued focus on expanding hospital capacity and advanced treatment centers, including rehabilitation and proton therapy facilities.

• Ongoing investment in upcountry and tourist destination hospitals to capture growth from both domestic and international patients.