Earning Releases


Date Title
October 31, 2018 Hermina Maintained Strong Financial Performances in Third Quarter 2018 with 20.7% EBITDA Margin |

Jakarta, October 31, 2018 – PT Medikaloka Hermina Tbk (“Hermina”, “the Company”) released its financial results for the nine months ended September 30, 2018 (9M18) with a net revenue of IDR 2.29 trillion, an increase of 16.5% compared to the revenue of IDR 1.96 trillion from the same period last year. The Company also reported Earnings Before Interest, Tax, Depreciation, and Amortization (EBITDA) at IDR 474.4 billion, which represents a stable EBITDA margin of 20.7%. The net income came at IDR 162.0 billion, compared to the net income of IDR 147.7 billion from the same period last year.

In 9M18, Universal Healthcare Coverage (JKN) patients contributed 67% of inpatient admission and 48% of outpatient visits. Despite roughly half of the net revenue originating from JKN, the Company has been able to maintain a stable margin through economies of scale and constant improvement in operating efficiencies. Hermina continues to be adapt in setting up its strategy to navigate the challenges posed by JKN program.

By September 30, 2018, Hermina operates close to 3,300 beds with a bed occupancy rate of 64.0%. It served 223,500 inpatient admissions (28.6% increase yoy) and 3.9 million outpatient visits (19.7% increase yoy). Total inpatient days grew by 25.9% to 561,200 with an average length of stay (ALOS) of 2.5 days.

The expansion is as planned with the recent addition of Hermina OPI Jakabaring (Palembang) in the month of August, in addition to Hermina Samarinda that has been opened earlier this year. In the fourth quarter of 2018, a new hospital in Padang will be opened, in addition to a managed hospital in Jayapura that has been opened few weeks ago. The hospital in Jayapura was set up through the collaboration with a local Papua organization and will be managed by Hermina.

In regards to the proceed of the Initial Public Offering (IPO), the Company has deployed about 82.8% of the net proceeds of IDR 1.25 trillion for the development of new hospitals (25%), purchases of medical equipment (7.8%), debt repayment (38%), and Company’s general operations (12%). In 9M18, Hermina has deployed a total of IDR 599.6 billion for capital expenditure, which includes adding more than 400 operational beds in existing hospitals.

 

About Hermina

PT Medikaloka Hermina Tbk is one of the largest general hospital network in Indonesia with 33 years of experiences in providing professional and comprehensive healthcare services. In addition to its strong heritage in women and children care, Hermina has developed itself to become a provider of specialties across healthcare. As of September 2018, the Company has 30 hospitals consisting of 6 type B hospitals and 24 type C hospitals with approximately 2,500 specialists across 18 cities in Indonesia. The Company went public at Indonesia Stock Exchange (IDX) on May 16, 2018 and is trading with the ticker symbol HEAL.

***

July 31, 2018 Hermina Announced Resilient Financial Results in the First Semester 2018 with 18.2% Growth in Revenue |

Jakarta, July 31, 2018 – PT Medikaloka Hermina Tbk (“Hermina”, “the Company”) published its financial results for the first semester ended June 30, 2018 (1H18) with a net revenue of IDR 1.52 trillion, an increase of 18.2% compared to the revenue of IDR 1.28 trillion from the same period last year. The Company also reported Earnings Before Interest, Tax, Depreciation, and Amortization (EBITDA) at IDR 314.7 billion, which represents a stable 20.8% EBITDA margin, and an increase of 17.7% compared to EBITDA of IDR 267.3 billion from the same period last year. The Company was able to deliver a resilient performance against a strong semester ended June 30, 2017, despite the fasting month that started 10 days earlier in 2018 and a longer Eid Holiday in the month of June. The fasting season in the month of Ramadhan has traditionally been a quiet time for hospital traffic.

Hermina has been an early adopter in serving the Universal Healthcare Coverage (JKN) patients. In the first semester of 2018, JKN contributed 67% of inpatient admission and 49% of outpatient visits. Despite the amount of business coming from JKN patients, the Company has been able to maintain a stable margin through economies of scale and continuous improvement in operating efficiencies. The cash flow from operations also remains positive and stable, signifying a discipline account receivable management.

As of June 30, 2018, Hermina operates about 3,200 beds with 62.2% bed occupancy rate. On the patient volume, Hermina recorded 143,500 inpatient admissions (31.7% increase yoy) and 2.6 million outpatient visits (24.4% increase yoy). Total inpatient days increased by 29.0% to 362,500 with an average length of stay (ALOS) of 2.5 days. The expansion plan is well on track with the opening of Hermina’s hospitals in Palembang (Jakabaring) and Padang in the next few months. Hermina is also actively evaluating acquisition opportunities. Out of 29 hospitals in the network, 7 hospitals were acquired while 22 hospitals were built through greenfield projects.

Out of the net proceeds of IDR 1.25 trillion raised during the Initial Public Offering (IPO), the Company has deployed about 77% of the net proceeds for the development of new hospitals (25%), purchases of medical equipment (2%), debt repayment (38%), and Company’s general operations (12%).

 

About Hermina

PT Medikaloka Hermina Tbk is one of the largest general hospital network in Indonesia with 33 years of experiences in providing professional and comprehensive healthcare services. In addition to its strong heritage in women and children care, Hermina has developed itself to become a provider of specialties across healthcare. As of April 30, 2018, the Company has 29 hospitals consisting of 6 type B hospitals and 23 type C hospitals with approximately 2,450 specialists across 18 cities in Indonesia. The Company went public at Indonesia Stock Exchange (IDX) on May 16, 2018 and is trading with the ticker symbol HEAL.

***