Outperformance in light of the Pandemic

Jakarta, August 2, 2020 – PT Medikaloka Hermina Tbk (“Hermina”, “the Company”) announced its financial results for the period ended June 30, 2020 (1H20) with a net revenue of IDR 1.73 trillion. The Company also reported Earnings Before Interest, Tax, Depreciation, and Amortization (EBITDA) of IDR 396.6 billion, which represents a margin of 22.9%. The net income came at IDR 134.3 billion while the Profit After Tax and Minority Interests (PATMI) came at IDR 104.2 billion, representing around 77.6% of the net income. During the first half of the year, the Bed Occupancy Rate remained resilient at 56.4%.  Overall, considering the challenging environment due to the pandemic, the Company has indeed shown a strong outperformance.

In light of the pandemic, the management expects the condition to improve throughout the second half of 2020 (2H20) as indicated by the steady recovery in the patient volume after reaching the bottom in the month of April.  Hermina remains firm that it expects the full year growth will be positive in respect to revenue, EBITDA, and net income.

The balance sheet of the Company remains strong with a Net Debt / EBITDA ratio of 0.8x. The Company ended the period with a total cash of IDR 591.4 billion, which was supported by positive Free Cash Flow (FCF) generations for the last two quarters. All the loan facilities are in good standing and the access to loan remains available.  Additionally, Pefindo Credit Rating Agency has recently assigned Hermina a corporate rating of AA-/Stable reflecting Hermina’s dominant position in the hospital industry, a strong financial profile, and a stable profitability margin.

At the end of July, Hermina has opened its 38^th hospital in the city of Manado. This expansion is in line with the Company’s plan to own and operate 40 hospitals by the end of 2020. It is estimated that Hermina will operate 4,700 beds by the end of 2020.

About Hermina

PT Medikaloka Hermina Tbk is the largest general hospital network in Indonesia with 35 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 June 30, 2020, the Company has 37 hospitals consisting of 8 type B hospitals and 29 type C hospitals with more than 3,800 doctors and specialists across 25 cities in Indonesia. The Company went public at Indonesia Stock Exchange (IDX) on May 16, 2018 and is trading with the ticker symbol HEAL.