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20241107_SILO_Laporan Informasi dan Fakta Material_31754800_lamp1.pdf
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PRESS RELEASE
FOR IMMEDIATE RELEASE
7 November 2024
Siloam Hospitals Achieved Steady Year-on-Year Financial Performance
and Operational Growth for 9M2024
9M2024 vs 9M2023 Financial and Operational Highlights:
• Net Revenue, Underlying EBITDA, and Underlying Net Profit were recorded at Rp7.06tn,
Rp2.11tn, and Rp977.8bn, reflecting Year-on-Year growth of 10.8%, 8.2%, and 10.6%,
respectively.
• Inpatient Admissions, Inpatient Days, and Outpatient Volume for 9M2024 reached 244,976
patients, 759,695 days, and 3,163,707 visits, showing Year-on-Year increases of 9.8%, 9.0%, and
9.7%, respectively.
PT Siloam International Hospitals Tbk (“Siloam” or the “Company”; stock code: “SILO”)
Tangerang, 7 November 2024 – PT Siloam International Hospitals Tbk ("Siloam"), a leading network of
private hospitals across Indonesia, announced its financial and operational results for the nine months
ended September 2024. The Company has demonstrated consistent growth in its revenue and
operational volumes, reflecting the successful execution of its strategy and the continued optimization
of its hospital network.
During 9M2024, Siloam’s Net Revenue grew by 10.8% YoY to Rp7.06 trillion, backed by increase in YoY
inpatient and outpatient volumes, as well as enhancements in operational efficiencies across the hospital
network. This revenue growth reflects Siloam’s effective expansion strategy that aligns patient demand
and clinical expertise.
The Company’s operational framework emphasizes resource optimization and cost management, with
Underlying EBITDA growing 8.2% YoY to Rp2.11tn, while Underlying Net Profit saw a 10.6% YoY increase
to Rp977.8bn. These financial achievements illustrate the Company’s disciplined approach to growth,
balanced with a commitment to delivering accessible, high-quality healthcare across Indonesia.
Exhibit 1: SILO Financial Results Highlights (9M2024 vs 9M2023)
Financial Results (IDR mn) 9M2024 9M2023 % growth 3Q2024 3Q2023 % growth
Net Revenue 7,062,547 6,373,133 10.8% 2,403,262 2,286,819 5.1%
Underlying EBITDA 2,110,041 1,950,601 8.2% 715,931 741,372 -3.4%
Underlying EBITDA Margin (%) 29.9% 30.6% -0.7% 29.8% 32.4% -2.6%
Underlying Net Profit 977,781 883,833 10.6% 332,930 374,340 -11.1%
Underlying Net Profit Margin (%) 13.8% 13.9% -0.0% 13.9% 16.4% -2.5%
The Company saw a growth in patient volumes with Inpatient Admissions increased by 9.8% to 244,976
patients, while Inpatient Days rose by 9% to 759,695 days. Additionally, Outpatient visits grew by 9.7% to
3.16 million visits, underscoring the Company’s ability to sustain high outpatient activity levels, with
volumes remaining above 1 million visits per quarter.
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Exhibit 2: SILO Operational Results Highlights (9M2024 vs 9M2023)
Operational Results 9M2024 9M2023 % growth 3Q2024 3Q2023 % growth
Operational beds (Beds) 4,097 3,941 4.0% 4,103 3,941 4.1%
Inpatient Admissions 244,976 223,191 9.8% 80,511 80,230 0.4%
Inpatient Days (Days) 759,695 696,966 9.0% 244,262 245,438 -0.5%
Occupancy Rate (%) 68% 65% 3.0% 64% 68% -4.0%
Outpatient Visits 3,163,707 2,882,867 9.7% 1,094,613 1,047,201 4.5%
Through continued improvements in clinical programs, Siloam has maintained a 68% occupancy rate, an
improvement of 3% from the previous year, with total operational beds standing at 4,097. The Company
remains focused on optimizing the range and complexity of its clinical offerings, particularly in Cardiology,
Oncology, Neurology, Gastroenterology, and Orthopedics (CONGO) programs.
Additionally, Siloam maintains favorable payer mix, with 81.7% of its total revenue coming from private
patients, including Out of Pocket, Corporate clients, and Insurance categories, while 18.3% of revenue is
derived from the BPJS payer group.
Siloam remains dedicated to its expansion strategy, with a target to open one to two hospitals per year.
Siloam Hospitals Makassar is preparing to add 80 additional beds and invest in a Linear Accelerator
(LINAC) to improve its service offerings. Moreover, Siloam Hospitals Surabaya Gubeng is focusing on the
premium market in central Surabaya, with plans to expand its capacity by adding 162 beds. Both projects
are anticipated to be completed by the first quarter of 2025.
Remarks from Siloam’s President Director:
Siloam’s President Director, Mr. Benny Haryanto, commented on the results: “Siloam continues to exhibit
strong growth and resilience throughout 2024. The Company’s sustained performance highlights the
successful execution of our strategic initiatives. We remain dedicated to providing exceptional care for our
patients while optimizing hospital operations to ensure financial sustainability. Management will
maintain its focus on operational excellence as we expand our services and clinical programs to meet the
evolving needs of the communities we serve."
,
For more information, please contact:
Vivian Chandra
Investor Relations
Siloam Hospitals Group
vivian.chandra@siloamhospitals.com
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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 73 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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Benny Haryanto
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