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20240731_SILO_Laporan Informasi dan Fakta Material_31689474_lamp1.pdf
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PRESS RELEASE
FOR IMMEDIATE RELEASE
31 July 2024
Siloam Hospitals Sustained Growth supported by High Complexity
Clinical Programs
1H2024 vs 1H2023 Financial and Operational Highlights:
• Revenue, Underlying EBITDA, and Underlying Net Profit booked at Rp4.66tn, Rp1.39tn, and
Rp644bn, growing 14%, 15.3%, and 24.9% Year-on-Year respectively.
• Inpatient Admissions, Inpatient Days, and Outpatient volume in 1H2024 recorded at 164,466
patients, 515,433 days, and 2,069,094 visits, and each grew by 15%, 14.2%, and 12.7% Year-on-
Year respectively.
PT Siloam International Hospitals Tbk (“Siloam” or the “Company”; stock code: “SILO”)
Tangerang, 31st July 2024 – Siloam announced its financial and operational results for first half of 2024.
The Company is continuing its sustained growth whereby YoY revenue growth reflects strong execution
of strategy, growth of clinical programs, and optimizing value in hospitals that were ramping up.
Through continuous improvement on the range and complexity of clinical programs, Siloam successfully
maintained its performance for the second semester of 2024, driven by higher Average Revenue Per
Occupied Beds (ARPOB) resulting from high complex clinical programs in Cardiology, Oncology,
Neurology, Gastroenterology, and Orthopaedic (CONGO). ARPOB in 2Q2024 improved by 3.5% YoY and
1.1% QoQ respectively.
Siloam has managed to maintain its favourable payer mix with 81.9% of total Revenue derived from
private patients, including Out of Pocket, Corporate and Insurance. The remaining 18.1% were derived
from BPJS payer group.
While optimizing existing capacity, the Company continues its expansion strategy of opening one to two
hospitals per year, as for example Siloam Hospitals Makassar Extension which will be completed by the
end of 2024 and Siloam Hospitals Lippo Village Oncology Centre in the first quarter of 2025. As of 1H2024,
Siloam Hospitals operated more than 4,000 beds, with 69% occupancy rate or an increase of 9.4%
compared to 1H23 on a blended basis.
Siloam recorded an increase in Inpatient and Outpatient volumes. As of 1H2024, Inpatient admissions
grew by 15% to 164,466 patients compared to 142,961 patients in 1H2023 and Outpatients visits grew by
12.7% to 2,069,094 visits compared to 1,835,666 visits in 1H2023. The Company has maintained its
Outpatient volume above 1 million visits every quarter.
The Company has successfully sustained its performance despite the seasonality impact of quarter 2. In
1H2024, Net Revenue, Normalized EBITDA and Normalized Net Profit were higher by 14%, 15.3%, and
24.9% respectively.
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Operational Results 1H2024 1H2023 % growth 2Q2024 2Q2023 % growth Operational beds (Beds) 4,120 3,956 4.1% 4,120 3,956 4.1% Inpatient Admissions 164,465 142,961 15.0% 81,625 71,645 13.9% Inpatient Days (days) 515,433 451,528 14.2% 255,175 226,204 12.8% Occupancy Rate (%) 69.0% 63.1% 9.4% 68.0% 64.5% 5.4% Outpatients Visits 2,069,094 1,835,666 12.7% 1,018,077 910,407 11.8% Financial Results (IDR mn) 1H2024 1H2023 % growth 2Q2024 2Q2023 % growth Net Revenue 4,659,285 4,086,314 14.0% 2,318,529 2,039,727 13.7% Underlying EBITDA 1,394,109 1,209,150 15.3% 687,850 606,774 13.4% Underlying EBITDA Margin (%) 29.9% 29.6% 1.1% 29.7% 29.7% -0.3% Underlying Net Profit 644,851 516,393 24.9% 311,126 259,023 20.1% Underlying Net Profit Margin (%) 13.8% 12.6% 9.4% 13.4% 12.7% 0.7% Remarks from Siloam’s President Director: Siloam’s President Director, Mr. Benny Haryanto, commented on the results: “Siloam continued to show resiliency and maintained its financial and operational results in the first half of 2024. Management continues to execute its strategic plan diligently to provide exceptional care to patients while achieving operational excellence and financial sustainability.“ lain (radiasi, hormonal, sunti For more information, please contact: Investor Relations Support Siloam Hospitals Group Ir.support@siloamhospitals.com 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.
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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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