| · Q3 2024: PATMI (ex EI) up 43% on higher patient volumes and taking on more complex cases; paid out an interim dividend of 4.5 sen per share |
| · YTD 2024: strong core operational performance with double-digit growth across revenue, EBITDA, and PATMI (ex EI) |
| · Reinforcing healthcare leadership: largest private healthcare provider to implement CDC guidelines on antimicrobial stewardship; adding close to 1,000 beds to better serve patients. |
| “We delivered solid core performance for Q3 2024 and year to date as we improved inpatient volumes and revenue intensity. |
| As part of our commitment to elevating care and clinical excellence, we are proud to be the largest private healthcare provider in the world to implement CDC guidelines for managing antimicrobial resistance, across our network of more than 80 hospitals across 10 markets. This goes a long way towards enhancing patient well-being and safety. |
| We also strengthened our leadership position in key markets by acquiring Island Hospital in Penang and opening Fortis Hospital, Manesar in the National Capital Region (“NCR”), India. This adds a combined 1,000 beds and allows us to extend our exceptional care to significantly more patients. |
| As we continue to execute our strategic priorities and place patients at the centre of all we do, we remain confident of our growth trajectory.” |
| Dr Prem Kumar Nair Group Chief Executive Officer, IHH Healthcare |
| GROUP RESULTS – FINANCIAL HIGHLIGHTS1 |
| Q3 2024 key metrics (Y-o-Y) change |
| Revenue
RM5.6b
-3% |
EBITDA
RM1.3b
-9% |
PATMI (ex EI)
RM528m
+43% |
PATMI
RM534m
flat |
|
YTD 2024 key metrics (Y-o-Y) change |
| Revenue
RM17.7b
+13% |
EBITDA
RM4.0b
+12% |
PATMI (ex EI)
RM1.4b
+35% |
PATMI
RM1.9b
-13% |
|
| Q3 2024: Strong core net profit growth on sustained demand for quality healthcare services and revenue intensity growth |
- Revenue and EBITDA were lower at RM5.6 billion and RM1.3 billion respectively. Across all key markets, IHH saw higher inpatient volumes as well as revenue intensity from taking on more complex cases. Excluding the effects of MFRS 129, revenue and EBITDA would have grown by 10% and 7% respectively.
|
- PATMI was flat against last year. Excluding exceptional items, PATMI (ex EI) was up 43% on core operational growth.
|
- Paid out interim dividend of 4.5 sen per share on 30 Oct 2024.
|
- To further elevate itself as a global healthcare leader, IHH has in recent months:
|
| o Become the largest international private hospital network to implement Centers for Disease Control and Prevention (“CDC”) guidelines for its Antimicrobial Stewardship Program (“ASP”), to optimise the use of antibiotics, prevent superbug infections and enhance patient safety. |
| o Strengthened leading position in key markets by adding close to 1,000 beds through strategic acquisition of the 600-bed Island Hospital in Penang and commencing |
| operations at the 350-bed Fortis Hospital, Manesar in NCR, India. |
| YTD 2024: Sustained core operational growth; strong financial position |
- Revenue and EBITDA reported double-digit growth on sustained growth in patient volumes and revenue intensity across all markets, at 13% and 12% respectively.
|
- The lower headline PATMI was primarily due to a high base last year, which recorded one-off gains of RM873.0 million from the sale of International Medical University (“IMU”).
|
- Excluding exceptional items, PATMI (ex EI) grew by 35%.
|
- The balance sheet remained strong: net cash generated from operating activities at RM3.1 billion; net gearing at a healthy 0.24x.
|
- With growing healthcare needs both locally and from around the region, The Group is confident of its trajectory. It will anchor on its ACE framework to deliver against its five strategic priorities, notably aiming to add close to 4,000 new beds in the next five years.
|
- Overall, the Group expects continued revenue growth fuelled by healthcare megatrends and will focus on driving profitability and sustaining healthy ROE while maintaining prudent capital management and mitigating inflationary and interest rate pressures.
|
| For the full document click the link below: |
| IHH Healthcare |
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