PT Medikaloka Hermina (HEAL) Q3 2025 earnings summary

Executive summary

• Operates 51 hospitals across 36 cities in Indonesia, focusing on women and children care and a differentiated business model aligned with the JKN universal health coverage scheme.

• Net revenues for the nine months ended September 30, 2025, reached Rp5,287,968 million, up from Rp5,026,528 million year-over-year.

• Net income attributable to owners for the period was Rp356,017 million, a decrease from Rp468,160 million in the prior year.

• Expanded network with four new hospitals established in 2024 and ongoing development in Bali and Central Java, targeting further growth by end of 2025.

• Total assets increased to Rp11,805,141 million as of September 30, 2025, from Rp10,577,680 million at year-end 2024.

Financial highlights

• Total revenue for 9M25 reached IDR 5,288 billion, up 5.2% year-over-year from 9M24.

• PATMI for 9M25 was IDR 356 billion, down 24% year-over-year, reflecting margin pressure.

• EBITDA for 9M25 was IDR 1,457 billion, nearly flat year-over-year, with EBITDA margin at 27.6%.

• Gross profit for the period was Rp1,771,868 million, slightly down from Rp1,879,112 million year-over-year.

• Operating income was Rp751,104 million, compared to Rp866,076 million in the same period last year.

Outlook and guidance

• Two hospitals under development (Bali and Salatiga) are on track for opening in 4Q25, supporting continued expansion.

• Management continues to focus on expanding hospital operations and capital investments, with significant construction in progress and advances for fixed asset purchases.