Mitra Keluarga to Distribute Dividend of Rp 291 Billion
Jakarta, June 4, 2015 — The majority shareholder of PT. Mitra Keluarga Karyasehat Tbk (the “Company”) approved the proposal from the Companyâ€™s Board of Directors to distribute a cash dividend for the financial year 2014 amounting to Rp. 291 Billion or Rp. 200 per share, which reflects a dividend payout ratio of 54,5% of the Companyâ€™s Profit After Tax. After the General Meeting of Shareholders and Extraordinary Meeting of Shareholders which were held on Thursday, 4 June 2015 at the Auditorium of Mitra Keluarga Hospital Kelapa Gading, Jakarta, the President Director of the Company, Ir. Rustiyan Oen, MBA, said that in accordance with the Company’s commitment to improve shareholdersâ€™ returns and backed by the Company’s strong cash flow, the Board of Directors has proposed a dividend payout ratio of 54,5% to be distributed as a cash dividend of Rp. 200 per share. Rustiyan also confirmed that, despite the large cash dividend amounting to Rp. 291 billion, the Companyâ€™s expansion plans of adding new hospitals and additional beds at the existing 11 hospitals that are operated by the Company remain on track. “The proceeds from our Initial Public Offering conducted at the end of March are more than sufficient to fund our expansion in the next 5 years. Therefore the cash dividend distribution, though significant, will not hinder our operations with respect to the Company’s working capital requirement and our funding requirement for future expansion.”
ForÂ theÂ financialÂ yearÂ ended 31 December 2014, Mitra Keluarga successfully posted sales ofÂ Rp 1,94 Trillion or an increase of 12% over the same period of financial year 2013, driven by growth in patient volume and an increase in service intensity in the 11 hospitals operated by the Company. The patient volume growth was bolstered by the opening of theÂ Company’sÂ eleventh hospital in June 2014, Mitra Keluarga Hospital Kenjeran, located in East Surabaya. As at 31 December 2014, the Company has bed capacity of 1.953 beds, and with the support of 983 doctors and specialists, 2.768 nurses and over 1.000 other medical personnel who are qualified professionals, it served more than 1.73 milion patients over the year.
The Company achieved a growth in operating profit amounting to 22%, higher than the sales growth for the same period, and as such the Company was able to raise its operating profit margin from 27% in financial year 2013 to 30% for the financial year 2014. The increase in the Companyâ€™s operating profit margin was achieved by tightly managing operating expenses in order to realize efficiency gains. In 2014, the Company’s profit after tax grew by 30%, giving a profit after tax to net sales ratio of 27%. In addition, the Company was able to maintain working capital turnover at 7 days and generated cash flow from operating activities amounting to Rp 547,4 billion. Mainly for the purpose of developing a new hospital, in 2014 the Company recorded Rp 295 billion as capital expenditure. In addition, the Company has no bank loans or any other debt instrument, thus the Company recorded a net cash position amounting to Rp 970 billion as at 31 December 2014.
In accordance with the Company’s expansion plans, a new hospital located in Kali Deres, West Jakarta, is currently being completed and is expected to commence operations in July 2015. “The preparation for the opening of Rumah Sakit Mitra Keluarga Kali Deres has reached the final stages and we are currently gearing up for the opening of this hospital next month and we expect to receive an operating license from the relevant authorities at the end of June ” said Ir. Rustiyan Oen, MBA. Rumah Sakit Mitra Keluarga Kali Deres which shall become the Company’s 12th hospital. Rustiyan added that “for the first phase we will open as many as 70-100 beds and we will add bed capacity in line with the growth in patient volume.” At the end of 2015, the Company expects to operate more than 2.000 beds in 12 Mitra Keluarga hospitals.
Rustiyan explained that the Companyâ€™s plan to open another six hospitals until 2019 in Greater Jakarta and Surabaya will be carried out in accordance with the initial plan whereby it is expected that by the end of 2019, the Company will operate 18 hospitals with a capacity of approximately 3.400 beds.Â This expansion plan will be financed from the proceeds raised by the Company during its Initial Public Offering at the end of March 2015. It successfully offered 261.913.000 shares of the Company or 18% of the 1,455,073,600 issued shares and subsequently the Company was successfully listed on the Indonesian Stock Exchange on 24 March 2015. Ending the conversation, Rustiyan also asserted that “we believe that although in general Indonesia is still facing a scarcity of doctors and medical personnel, we are confident of recruiting qualified doctors and medical personnel to support the success of Mitra Keluargaâ€™s long term development plan in the next 5 years. The trust of doctors and other medical personnel and also of the patients are strong evidence of Mitra Keluargaâ€™s experience in providing affordable quality healthcare services for over 25 years.”
Mitra Keluarga at a Glance
Mitra Keluarga built its first hospital back in 1989 and currently owns and operates 11 hospitals, of which seven are located in Greater Jakarta, three in Surabaya in East Java, and one in Tegal in Central Java. Typically, the hospitals are equipped with an emergency room, outpatient clinics, inpatient wards, operating room, intensive care unit and a pharmacy, and provide laboratory and radiology services. The hospitals also offer specialized services such as obstetrics, pediatrics, internal medicines, angioplasty, orthopedics surgery and neurosurgery, amongst others. All the Companyâ€™s hospitals are accredited by Indonesian Commission on Accreditation of Hospital (KARS).
From its humble origins, Mitra Keluarga has transformed into one of Indonesiaâ€™s biggest private hospital operators by treating 1,73 million patients in 2014. It is the second largest in terms of inpatient bed capacity with 1,647 beds as at 31 December 2014.
Mitra Keluarga employed more than 4,900 medical professionals including doctors, laboratory staff, nurses and therapists and more than 860 specialists practising in our 11 hospitals at the end of 2014.
PT Mitra Keluarga Karyasehat Tbk successfully listed its shares on the Indonesia Stock Exchange on 24 March 2015 (IDX:MIKA).
For further information:
Joyce V Handajani, Corporate Secretary, PT Mitra Keluarga Karyasehat Tbk
Tel: 62-21 45852700 | email: email@example.com
Janet Kurniawan, Investor Relations, PT Mitra Keluarga Karyasehat Tbk
Tel: 62-21 45852700 | email: firstname.lastname@example.org