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20231027_SILO_Laporan Informasi dan Fakta Material_31482800_lamp1.pdf
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PRESS RELEASE
FOR IMMEDIATE RELEASE
27 October 2023
Maintaining Excellence: Siloam Hospitals Sets New Benchmarks in
3Q2023 and Beyond
9M2023 vs 9M2022 Financial and Operational Highlights:
• Revenue, EBITDA, and Net Profit booked at Rp6.37tn, Rp1.95tn, and Rp884bn, growing 18.4%,
39.8%, and 93.3% Year-on-Year respectively.
• Inpatient Admissions, Inpatient Days, and Outpatient volume in 9M2023 recorded at 223,191
patients, 696,966 days, and 2,882,867 visits, and each grew 29.1%, 18.6%, and 27.9% compared
with 9M2022.
3Q2023 vs 3Q2022 Financial and Operational Highlights:
• Revenue, EBITDA, and Net Profit booked at Rp2.29tn, Rp741bn, and Rp367bn, growing 17.2%,
28.9%, and 50.3% Year-on-Year respectively.
• Inpatient Admissions, Inpatient Days, and Outpatient volume in 3Q2023 remained resilient and
recorded at 80,230 patients, 245,438 days, and 1,047,201 visits, and each grew 21.7%, 11.7%,
and 24.4% compared with 3Q2022.
PT Siloam International Hospitals Tbk (“Siloam” or the “Company”; stock code: “SILO”)
Jakarta, 27th October 2023 – Siloam announced its financial and operational results for the 9 months of
2023 today. The Company reported a stellar result in 3Q2023 from financial and operational results and
were driven by the increase of productive days that led to higher number of patients, focused on high
complexity clinical programs, and sustainable payer mix.
The Company has indicated 4 key megatrends of healthcare in Indonesia such as the rise of senior
population demographics, rising adoption rate of digital technologies, increasing healthcare awareness
towards preventive care, and the digitalization of healthcare. In addition, Indonesia will continue to see
strong healthcare spend growth over the next years as indicated by the healthcare industry CAGR from
2022 to 2030 which is projected at 7-8% according to Indonesian Ministry of Health. Siloam as one of the
largest healthcare providers in Indonesia adhere to these trends and bring in various initiatives on
curative clinical programs and digital technologies to further support the growth of Indonesian healthcare
industry. As the market continues to grow and the initiatives took off, Siloam has set the path to reach
high double-digit growth rate, ahead the healthcare industry.
Siloam continue to record a significant increase in Inpatient and Outpatient volumes in 3Q2023. OPD to
IPD Conversion Rate was maintained at 3.0% in 3Q2023. While continuing to grow patient’s experience
through various initiatives, the Company has managed become more efficient in treating patients and
Average Length of Stay (ALOS) was recorded at 3.1 days in 3Q2023 from 3.3 days in 3Q2022 and 3.2 days
in 2Q2023.
As the Company has become more efficient in treating patients, throughput from high complex clinical
programs such as Cardiology and Cardio-Surgery, Oncology and Onco-Surgery, Neurology and Neuro-
Surgery, Gastroenterology, and Orthopaedic Surgery (CONGO) has grown on Quarter-on-Quarter basis in
terms of volume and Average Revenue per Days (ARPD). The Company has had a stellar year and is on
track to reach 4 million patients treated for the year of 2023.
Payer group in 9M2023 remained favourable for the Company with about 82% of total Revenue deriving
from Private patients while more than 50% Private revenue deriving from Corporate and Insurance
clients. BPJS revenue contribution was stable at about 18% as of 9M2023.
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Siloam has invested heavily in its digital capabilities since 2018, focusing on class-leading initiatives while digitizing its back-end patient channels. As the result, the Company has established a comprehensive digital ecosystem which cover all aspects of patient’s journey. Starting from bookings, registrations, data management, as well as results and medical records are now digitally available through MySiloam App and website. The Company also successfully launched its digital laboratory and radiology services which provide a seamless experience from end-to-end. As of 9M2023, Siloam’s digital channels which include Live Chats, WhatsApp, and tele-chat features from MySiloam App have continued to gain popularity and recorded more than 532 thousand Outpatient bookings as of 9M2023 or contributed about 21% of total Outpatient in 3Q2023. The MySiloam App itself has been downloaded for more than 2 million times and Siloam’s website has reached 12 million traffic per month as of 9M2023. The aforementioned has resulted in a higher Revenue, EBITDA, and Net Profit in 9M2023 compared with 9M2022. EBITDA Margin in 9M2023 expanded to 30.6% compared with 25.9% in 9M2022 as well as Net Profit Margin in 9M2023 has reached double digits to 13.9% compared with 8.5% in 9M2022. In 3Q2023, Revenue, EBITDA, and Net Profit were higher by 17.2%, 28.9%, and 50.3% YoY respectively. EBITDA and Net Profit Margin were booked at 32.4% and 16.1% in 3Q2023. The Company’s Operational Cash Flow remained strong as of 9M2023 and booked at Rp1.28tn. The Company’s implementation of cost efficiency initiatives throughout 2023 has saved about Rp120bn as of 9M2023 and is in line with the Company’s expectation. Remarks from Siloam’s President Director: Siloam’s President Director, Mr. Benny Haryanto, commented on the results: “Siloam has booked another significant financial and operational results as of the 3rd quarter of 2023. Management has a strong focus in growing clinical programs and drives efficiency and profitability in each hospital. Siloam’s investments in its digital capabilities have bear fruit not only for our patients but also for our shareholders. Through the continued implementation of Siloam 5.0, shareholders can expect higher, sustainable growth for the remainder of the year and finally a higher shareholders’ value. I look forward to report to you on Siloam’s achievements in 2023 and the future it holds.” lain (radiasi, hormonal, sunti For more information, please contact: Wily Tjandera Investor Relations Senior Officer Siloam Hospitals Group wily.tjandera@siloamhospitals.com +628179000128 About Siloam Hospitals Group PT Siloam International Hospitals Tbk (“Siloam Hospitals”) is a network of private hospitals in Indonesia committed to providing high quality health services in Indonesia. Starting business in 1996, Siloam Hospitals currently manages and operates 41 hospitals, consisting of 15 hospitals in the Greater Jakarta area and 26 hospitals spread across the islands of Java, Sumatra, Kalimantan, Sulawesi, Bali, Nusa Tenggara and Ambon. Siloam Hospitals Group also operates 66 Siloam Clinics.
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Siloam Hospitals' vision is to provide international quality healthcare and reach all levels of society on a national scale based on Godly compassion which is the basis for Siloam Hospitals to respond to the dynamic social transformation in Indonesia. Siloam Hospitals' mission is to be the trusted choice for world-class holistic healthcare, health education and research. Siloam Hospitals is the pioneer of Joint Commission International (JCI) accreditation for hospitals in Indonesia. JCI is an international accreditation agency based in the United States that focuses on improving the quality of health care and patient safety. For more information about Siloam Hospitals, visit www.siloamhospitals.com. Disclaimer: This Press Release is prepared by Siloam Hospitals and is distributed only to convey general information. This Press Release is not intended for a particular group or purpose and does not constitute a recommendation regarding the shares of Siloam Hospitals. No guarantee is given regarding the completeness or certainty of the information contained. All opinions and estimates included in this Press Release are our opinions as of this date and are subject to change without notice. Siloam Hospitals is not responsible for any losses that may occur to any party due to part or all of the contents of this Press Release, Siloam Hospitals and affiliated companies including their employees and agents are not responsible for any mistakes, omissions, omissions or inaccuracies that can happen. Predictive Statements: Some of the statements in this Press Release are or may be predictive in nature. These statements generally contain words such as "will", "hopes", "anticipates" or the like. By their nature, predictive statements carry risks and uncertainties that may cause realities that are different from what is explained in this Press Release. Factors that can cause different realities include but are not limited to: the economic, social and political situation in Indonesia; the health industry situation in Indonesia; market situation; additional regulatory burdens in Indonesia, including regulations relating to the environment and regulatory compliance costs; fluctuations in foreign exchange rates; interest rate development, capital costs and capital availability; anticipated demand and supply prices related to our health services and related capital expenditures and other investments; construction costs; availability of health services; competition from companies and other locations; changes in customer demand; changes in operational costs, including employee salaries, wages and training, changes in public and government policies; our ability to stay competitive; financial conditions, business strategies and plans and targets set by our management for future work; procurement of future income; compliance with environmental and remediation regulations. If, among other things, one or more of the risks or uncertainties mentioned above occur, the actual results may differ materially than predicted, anticipated or projected. In particular, but not limited, capital costs can increase, projects can be postponed and anticipated increases in production, capacity or implementation may not all occur. Although we believe that our management's expectations expressed in predictive statements are reasonable based on the information we have at the moment, we cannot provide guarantees that these expectations can become reality. You should not depend on these statements immediately. However, these statements apply only to the date they were stated, and we are not responsible for making updates or revisions, even if new information, new events or anything is available.
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