Raffles Medical Group (BSL) H1 2025 earnings summary

Executive summary

• H1 2025 revenue rose 3.5% to S$378.4m; profit for the period increased 5.0% to S$32.5m and profit attributable to owners rose 4.8% to S$32.1m.

• Core operations delivered stable performance; cash and cash equivalents were S$334.2m at 30 June 2025.

Financial highlights

• EBITDA rose 4.0% to S$63.7m; operating profit increased 0.8% to S$41.6m and profit before tax rose 1.1% to S$43.9m.

• Operating cash flow increased to S$56.6m from S$34.6m; cash and cash equivalents were down S$9.5m from year-end.

Outlook and guidance

• Directors expect FY2025 to remain profitable based on current conditions, barring unforeseen circumstances.

• Focus remains on margin improvement and operational efficiency through resource optimisation, streamlined care delivery and specialty-driven services.