PT Mitra Keluarga Karyasehat (MIKA) Q4 2024 earnings summary

Executive summary

• Operates 30 hospitals with 4,054 operational beds and a 36-year brand heritage, making it one of Indonesia's largest private hospital groups.

• Consolidated financial statements for 2024 and 2023 have been audited and present fairly in all material respects, in accordance with Indonesian Financial Accounting Standards.

• Achieved 14.3% year-over-year revenue growth in FY24, reaching Rp4.87 trillion, with net income up 23.2% to Rp1.23 trillion.

• Maintains a strong focus on operational excellence, expansion, and digital transformation, including a new hospital information system and mobile app.

• Recognized with multiple awards for service quality and corporate excellence in 2024.

Financial highlights

• FY24 revenue grew 14.3% year-over-year to Rp4.87 trillion; EBITDA increased 22.5% to Rp1.84 trillion, with a margin of 37.7%.

• Net income rose 23.2% to Rp1.23 trillion, with a net margin of 25.2%.

• Total assets as of December 31, 2024 were Rp8.25 trillion, up from Rp7.34 trillion at year-end 2023.

• Basic and diluted earnings per share for 2024 were Rp82.43, up from Rp65.08 in 2023.

• ROIC improved to 24.5%, and ROIC excluding land bank reached 39.5%.

Outlook and guidance

• Pipeline includes 8 new hospitals with a potential addition of 1,500 beds, plus 851 beds from existing hospitals.

• Focus on capacity and intensity expansion, digital innovation, and further acquisitions.

• No significant impact is expected from the implementation of new accounting standards effective January 1, 2024.