PT Siloam International Hospitals (SILO) Q2 2024 earnings summary

Executive summary

• Revenue for the six months ended June 30, 2024, reached Rp6,016,582 million, up from Rp5,281,987 million year-over-year.

• Net profit for the period was Rp336,387 million, a decrease from Rp516,393 million in the same period last year.

• Gross profit increased to Rp2,362,320 million from Rp2,012,092 million year-over-year.

• Total assets as of June 30, 2024, stood at Rp11,587,590 million, up from Rp10,982,062 million at December 31, 2023.

• The Board of Directors confirmed responsibility for the accuracy and completeness of the financial statements.

Financial highlights

• Operating income for the six months ended June 30, 2024, was Rp581,918 million, down from Rp738,207 million year-over-year.

• Earnings per share (basic) were Rp24.21, compared to Rp38.79 in the prior year period.

• Cash and cash equivalents at June 30, 2024, were Rp846,147 million, down from Rp1,186,238 million at year-end 2023.

• Total equity increased to Rp8,109,705 million from Rp8,047,636 million at December 31, 2023.

• Dividend of Rp259,645 million was paid in June 2024 for the 2023 fiscal year.

Outlook and guidance

• The company continues to invest in hospital expansion and medical equipment, with construction in progress expected to complete between 2025 and 2027.

• Management is monitoring capital needs and project performance for ongoing and new developments.