Bumrungrad Hospital (BH) Q4 2023 earnings summary

Executive summary

• FY2023 delivered record earnings; revenue rose 22.3% YoY, EBITDA 34.7%, and net profit 41.9%; EPS growth was 42%.

• Middle East and Indochina performance led Q4; international patient revenue was a key growth driver for the year.

Financial highlights

• FY2023 revenue was THB 25,575 million, up 22.3% YoY and 37.8% vs 2019; Q4 revenue was THB 6,565 million, up 8.2% YoY.

• FY2023 EBITDA reached THB 9,597 million, up 34.7% YoY; Q4 EBITDA was THB 2,367 million, up 9.7% YoY.

• FY2023 net profit was THB 7,006 million, up 41.9% YoY; Q4 net profit was THB 1,721 million, up 11.3% YoY.

Outlook and guidance

• 2024 insurance priorities include expanding partner networks and referral reach, increasing complex-procedure cases, digitizing insurance journeys, and improving authorization and discharge turnaround times.