Jakarta, November 10, 2015 -Â PT Mitra Keluarga Karyasehat Tbk. (â€œMitra Keluargaâ€ or the “Company”) today announces the Companyâ€™s financial performance for the period ended September 30, 2015. Mitra Keluarga posted revenues of Rp1.60 trillion or an increase of 9.2% over the same period in 2014. The growth was driven by increase in price, as well as intensification of more complex services in the existing eleven hospitals operated by the Company as reflected in the increase of revenue per in patient days of 11.9% and in the increase of revenue per outpatient visit of 15.2%.Â Total patient volume for the nine months of 2015 (1.29Â million patients) showed a slight drop compared to that of last year (1.30 million patients) and bed occupancy ratio at the end of September 2015 was at 59.0% as the Company increased its operating bed capacity to 1,725 beds by September 30, 2015, adding around 50 beds from the opening its twelfth hospital, Mitra Keluarga Kalideres, which commenced operation since end of July 2015.
Patient volume in the newly opened MitraÂ Keluarga Kalideres, has been doing well by successfully booked at around 1,500 patients for the first two month of its operation. “We are optimistic that Mitra Keluargaâ€™s patient volume will return with the value-for-money quality of healthcare that we offer to our patients. Improved economic conditions should be able regain people confidence as well as bringing a positive impact”, said Ir. Rustiyan Oen, MBA, President Director of the Company.
The Company also recorded a gross profit of Rp728.9 billion for the period growing 14.0%, while the Company’s gross profit margin rose to 45.5% compared to 43.6% for the same period in 2014. The implementation of the standardization of drugs procurement continues to have a positive impact on the Company’s gross profit margin. The Company booked an operating profit of Rp477.7 billion in the nine months of 2015, which increased by 8.6%. In 2014, the Company booked a gain on sale of marketable securities, which was a non-recurring transaction, amounting to Rp26.7 billion. By excluding this non-recurring transaction, the operating profit grew by 15.6% while operating profit margin reached 29.8%.
The Company’s profit after tax grew by 12.4% which resulted in a profit after tax margin of 28.5%, increased by 2.9% compared to the same period last year of 27.6%. In addition, the Company generated cash flow from operating activities amounting to Rp532.8 billion. As per SeptemberÂ 30, 2015, the Company recorded Rp163.5 billion of capital expenditure, mainly used for the Companyâ€™s expansion plans. Furthermore, the Company has no bank loans or any other debt instruments, and with the addition from the proceeds of the Initial Public Offering on March 24, 2015, a net position of cash and cash equivalents amounting to Rp2.3Â trillion was recorded as of September 30, 2015.
Rustiyan explained that the Companyâ€™s intent to open another six hospitals through 2019 in Greater Jakarta and Surabaya will be carried out accordingÂ Â to initial plans. Furthermore, it is expected that by the end of 2019, the Company will operate 18 hospitals with a total capacity of 3,400 beds.Â This expansion will be financed from the proceeds raised by the Company during its Initial Public Offering at the end of March 2015. Rustiyan also asserted, “Although in general Indonesia is still facing a scarcity of doctors and medical personnel, with Mitra Keluargaâ€™s high reputation of providing healthcare services for more than 25 years we are confident of our ability to recruit qualified doctors and medical personnel to support Mitra Keluargaâ€™s long term development plans in the next 5 years. The trust enjoyed by doctors and other medical personnel as well as the patients is strong evidence of Mitra Keluargaâ€™s experience in providing affordable quality healthcare services for more than 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 rooms, outpatient clinics, inpatient wards, operating rooms, intensive care units and a pharmacies, and provide laboratory and radiology services. The hospitals also offer specialized services such as obstetrics, pediatrics, internal medicine, 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 of 31 December 2014.
Mitra Keluarga employs 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).