IHH Healthcare has reported patmi of RM534 million ($161.5 million) for the 3QFY2024 ended September, remaining flat as compared to RM532.1 million in 3QFY2023. Ebitda fell by 9% y-o-y to RM1.3 billion within the same period.
On a year-to-date (ytd) basis, the group also reported patmi of RM1.9 billion, down 13% y-o-y from the same period last year.
For 3QFY2024, the group’s earnings excluding exceptional items (EI) saw a 43% y-o-y increase to RM528 million on stronger core operational growth.
These EIs include lease reversals, exchange rate differences and gains from disposed assets and subsidiaries during the current and prior financial period.
Earnings per share stood at 6.06 sen for the quarter, as compared to 6.04 sens in 3QFY2023.
For the same period, IHH revenue fell slightly by 3% y-o-y to RM5.6 billion, while ebitda saw a 9% y-o-y decrease to RM1.3 billion. Excluding the effects of MFRS 129, the group’s revenue and ebitda would have grown by 10% y-o-y and 7% y-o-y, respectively. This came on the back of higher inpatient volumes as well as revenue intensity as more patients were seen.
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On Aug 29, IHH paid out an interim cash dividend of 4.5 sen per share that was paid on Oct 30.
Moving forward, the group says it is confident of its trajectory as a result of growing healthcare needs. Over the next five years, IHH is planning to increase its bed capacity, adding 4,000 new beds.
Overall, IHH expects continued revenue growth drive by healthcare megatrends and is set to focus on driving profitability and sustaining health return on equilty (ROE), while maintaining prudent capital management and mitigating inflationary and interest rates pressures.
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Prem Kumar Nair, group CEO, says: “As part of our commitment to elevating care and clinical excellence, we are proud to be the largest private healthcare provider in the world to implement CDC guidelines for managing antimicrobial resistance, across our network of more than 80 hospitals across 10 markets. This goes a long way towards enhancing patient wellbeing and safety.”
Shares in IHH Healthcare Q0F closed 1 cent lower, or down 0.46%, at $2.17 on Nov 28.
