PT Medikaloka Hermina (HEAL) Q3 2024 earnings summary

Executive summary

• Operates 51 hospitals across 36 cities in Indonesia, focusing on women and children care with a broad service offering and strong market position.

• Net revenues for the nine months ended September 30, 2024, reached Rp5,027 billion, up from Rp4,229.9 billion year-over-year.

• Net income for the period was Rp597.4 billion, a 35% increase from Rp441.5 billion in the prior year.

• Serves over 6.5 million outpatients and 500,000 inpatients in the first nine months of 2024.

• Total assets grew to Rp10,160.1 billion as of September 30, 2024, from Rp8,802.7 billion at year-end 2023.

Financial highlights

• Total revenue for 9M24 reached IDR 5,027 billion, up 18.8% year-over-year.

• EBITDA for 9M24 was IDR 1,457 billion, a 25.1% increase year-over-year, with a margin of 28.98%.

• PAT (Profit After Tax) for 9M24 was IDR 597 billion, up 34.2% year-over-year.

• Gross profit rose to Rp1,879.1 billion from Rp1,546.4 billion year-over-year.

• Operating income increased to Rp866.1 billion, up from Rp639.3 billion year-over-year.

Outlook and guidance

• The company continues to expand hospital capacity, with significant ongoing construction projects and capital expenditures of Rp1,737.4 billion in the period.

• New hospital openings and ongoing construction, including Hermina PIK 2, are expected to support continued growth.

• Management maintains a focus on sustainable growth and capital structure optimization.