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20230725_SILO_Laporan Informasi dan Fakta Material_31354204_lamp3.pdf
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PRESS RELEASE
FOR IMMEDIATE RELEASE
25 July 2023
Siloam Hospitals continue to book double digit results and
maintaining growth momentum despite seasonal factors
1H2023 vs 1H2022 Financial and Operational Highlights:
• Revenue, EBITDA, and Net Profit booked at Rp4.09tn, Rp1.21tn, and Rp516bn, growing 19.1%,
47.6%, and 142.5% Year-on-Year respectively.
• Inpatient Admissions, Inpatient Days, and Outpatient volume in 1H2023 recorded at 142,961
patients, 451,518 days, and 1,835,666 patients, and each grew 33.7%, 22.7%, and 29.9%
compared with 1H2022.
2Q2023 vs 2Q2022 Financial and Operational Highlights:
• Revenue, EBITDA, and Net Profit booked at Rp2.04tn, Rp607bn, and Rp259bn, growing 21.0%,
47.7%, and 133.6% Year-on-Year respectively.
• Inpatient Admissions, Inpatient Days, and Outpatient volume in 2Q2023 recorded at 71,645
patients, 226,204 days, and 910,407 patients, and each grew 28.6%, 20.3%, and 27.5% compared
with 2Q2022.
PT Siloam International Hospitals Tbk (“Siloam” or the “Company”; stock code: “SILO”)
Jakarta, 25th June 2023 – Siloam announced its financial and operational results for the first half of 2023
today. The Company continued its growth momentum and booked double digit YoY growth of Revenue
and EBITDA despite Lebaran season occurred in 2Q2023. These achievements were driven by higher
patient volume for complex surgeries which leads to higher Average Revenue per Day (ARPD).
Through robust and successful implementation of Siloam’s 5.0 strategy, the Company has successfully
beat seasonal factors in the 1st and 2nd quarter of 2023. Patient throughput from top 6 craft groups
including, Women & Child, Neurology, Cardiology, Orthopaedic, Uro-Nephrology, and Oncology in
2Q2023 has continued to grow on YoY basis. This leads to higher ARPD for each craft groups which grew
by 38.4%, 11.9%, 28.2%, 29.8%, 9.5%, and 12.6% YoY respectively. This was achieved despite lower
productive days in within the 2nd quarter of 2023.
Siloam has managed to maintain its favourable payer mix. As of 1H2023, about 83% of total Revenue was
derived from Private patients with more than 50% revenue derived from Corporate and Insurance clients.
BPJS revenue contribution was stable at about 18% as of 1H2023.
Siloam’s digital capabilities such as express check-outs, digitalization of medical records, digital laboratory
and radiology services, tele-chat and tele-consultation has maintained its leading in the market. As of
1H2023, Siloam’s digital channels which include Live Chats, WhatsApp, and tele-chat features from
MySiloam App have shown significant growth and recorded more than 300 thousand Outpatient bookings
or contributed about 19% of total Outpatient in 1H2023. The MySiloam App itself has has been
downloaded for more than 1.7 million times and recorded over 1.3 million sessions in as of June 2023.
The Company continue to invest in their service quality to provide a seamless patient’s experience. The
Company has successfully transformed the Outpatient journey by implementing single queue line where
patients only need to take one single queue number during their visit in the hospital including
registration, pharmacy, and cashier. As of 1H2023, this feature has been implemented in 39 hospitals and
has managed to reduce consultation waiting time by 25% and reduce cashier waiting time by 14%
compared to baseline numbers
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While successfully operating 41 hospitals in 23 provinces, the management has committed to grow by 1- 2 hospitals per year with a focus on premium markets. In line with this strategy, the Company has announced the purchase of plots of land in Surabaya and Jakarta each for Rp90bn (excluding VAT) and Rp306.8bn (excluding VAT). The land size in Surabaya is 4,442sqm and located in Keputih Village and Gebang Putih Village, Sukolilo District, Surabaya, East Java Province. Surabaya is the second largest city in Indonesia and is the most populous and developed in East Java by a large margin. In line with Siloam’s strategy to increase presence in premium markets, the Company has purchased a plot of land in Manyar region of Surabaya to build a new hospital with 200 beds capacity. The land size in Jakarta is 7,135sqm and located in Jl. Pangeran Antasari, Kelurahan Cipete Utara, Kecamatan Kebayoran Baru, Kota Jakarta Selatan. Siloam is the leader in Premium Segment in its core Jakarta areas and Tangerang and should continue to cement its position. In alignment with Siloam’s strategy to double down on premium market, the Company purchased a plot of land in Kemang, Jakarta Selatan, to build a new hospital with 200 beds capacity. This hospital has the opportunity to provide services to upscale international patients such as expats living in the premises. Siloam recorded an increase in Inpatient and Outpatient volumes. As of 2Q2023, Inpatient Admissions grew by 28.6% to 71,645 patients compared with 55,704 patients in 2Q2022. Inpatient Days in 2Q2023 was booked at 226,204 days or increased by 20.3% Year-on-Year. The Company has served 910,407 Outpatients in 2Q2023 or an increase of 27.5% compared with 714,079 Outpatients in 2Q2022. On a quarterly basis, Patient Admissions and Patient Days grew by 0.5% and 0.4% compared with 1Q2023. Outpatient Visits in 2Q2023 were only lower by 1.6% compared with 1Q2023 despite Lebaran season in April 2023. Siloam booked higher Revenue, EBITDA, and Net Profit in 1H2023 compared with 1H2022. Siloam recorded a Revenue of Rp4.09tn in 1H2023, growing 19.1% compared with 1H2022. EBITDA in 1H2023 was Rp1.2tn or grew by 47.6% Year-on-Year. EBITDA Margin in 1H2023 expanded to 29.6% compared with 23.9% in 1H2022. The Company reported a Net Profit of Rp516bn in 1H2023 or an increase of 142.5% compared with 1H2022. Net Profit Margin in 1H2023 doubled to 12.6% compared with 6.2% as with 1H2022. In 2Q2023, Revenue, EBITDA, and Net Profit were higher by 21.0%, 47.7%, and 133.6% YoY respectively. When compared with the same seasonal factors in the 2nd quarter, Revenue, EBITDA, and Net Profit were showing a positive CAGR of 13.0%, 35.3%, and 301.2% from 2Q2019 to 2Q2023. The Company’s Operational Cash Flow remained strong as of 1H2023 and booked at Rp553bn. The Company continued to implement its cost efficiency initiatives throughout 2023 and has saved about Rp58bn as of 1H2023 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 continued to show resiliency and booked a significant financial and operational results in the 2nd quarter of 2023. Management has continued to drive efficiency and profitability in each hospital and has overcome seasonal factors over the past 2 quarters. Siloam has also significantly invested in its digital capabilities to provide easier access for patients as well as increasing their journey in our hospitals. We are also looking to increase our presence in premium markets in Indonesia. Through these combined efforts, shareholders can expect higher growth of the business and ultimately a higher value. I look forward to report to you on Siloam’s achievements in 2023 and beyond.” lain (radiasi, hormonal, sunti
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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. 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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