PT Medikaloka Hermina (HEAL) Q1 2025 earnings summary

Executive summary

• Operates 51 hospitals with 8,278 beds and over 3,000 specialists, focusing on women and children care and a broad range of specialties.

• Net revenues for 1Q25 were IDR 1,692 billion, a slight decrease year-over-year.

• Net income attributable to owners was IDR 125 billion, down sharply year-over-year.

• Strategic shift underway to increase private segment exposure amid softening operational volumes.

• Consistent expansion with four new hospitals in 2024, now present in 36 cities across 17 provinces.

Financial highlights

• Total revenue for 1Q25 was IDR 1,692 billion, down 0.82% year-over-year.

• EBITDA for 1Q25 was IDR 488 billion, a 4.9% decrease year-over-year, with margin at 28.8%.

• Gross profit for Q1 2025 was IDR 582 billion, down from the prior year.

• PATMI dropped 34.7% year-over-year to IDR 125 billion.

• Basic earnings per share for Q1 2025 was IDR 8.38, compared to IDR 12.96 in Q1 2024.

Outlook and guidance

• Strategic focus on growing the private payor segment to offset JKN dependency.

• Management continues to focus on maintaining a healthy capital structure and compliance with loan covenants.

• The company plans to increase share capital to support future liquidity needs.

• Continued prudent working capital and debt management to support growth.