Mitra Keluarga Delivered a Robust Revenue Growth of 18% in 2019
Jakarta, March 31, 2020
PT Mitra Keluarga Karyasehat Tbk. ("Mitra Keluarga" or "the Company") announced its financial performance as of December 31, 2019.
2019 was a remarkable year for Mitra Keluarga. Mitra Keluarga managed to deliver a revenue of IDR 3,205 billion with a Y-o-Y growth of 18.1%. The growth was driven by the dengue outbreak which occurred from January to April 2019, opening of 2 (two) new greenfield hospitals in June 2019 namely Mitra Keluarga Pratama Jatiasih and Mitra Keluarga Bintaro and acquisition of 2 (two) hospitals in early 2019, namely RS Bina Husada and RS Mutiara Hati, located in Cibinong and Subang, respectively. In addition, the JKN segment continued to deliver strong revenue growth in 2019 which contributed 13.4% towards the consolidation revenue of FY 2019 compared to that of last year of 7.9%.
Financial Performance for the year ending 31 December 2019
Total Revenues of IDR 3,205 billion (including IDR 327 billion from Rumah Kasih Indonesia) for 2019 compared to IDR 2,713 billion, an increase of 18.1%.
Total Outpatients of 2.67 million for the year ending 2019 (including 518 thousand patients from Rumah Kasih Indonesia) compared to 2.18 million, an increase of 22.7%.
Total Inpatients of 208 thousand for 2019 (including 72 thousand inpatients from Rumah Kasih Indonesia) compared to 162 thousand, an increase of 28.9%.
Bed Occupancy Ratio of 59.5% compared to 53.7%, an increase of 5.8%. An additional 36 beds at Bina Husada have increased the number of operational beds from 2,840 beds to 2,876 beds since September 2019.
EBITDA of IDR 1,140 billion for the year ending 2019 (including IDR 68.8 billion from Rumah Kasih Indonesia) compared to IDR 960 billion, an increase of 18.7%.
EBITDA Margin of 35.56% for 2019 compared to 35.38%, an increase of 0.18% due to higher operating leverage especially from newly opened hospitals and efficiency in Kasih Group (EBITDA Margin of Kasih Group was up from 16.7% for FY 2018 to 21% for FY 2019).
Net Profit of IDR 791 billion for the year ending 2019 compared to IDR 659 billion, increased by 20%. The company has a cash position of IDR 1,865.6 billion as of December 31, 2019.
Mitra Keluarga will continue to add hospitals in the future through both greenfield and brownfield expansion plans;
Mitra Keluarga has started the groundbreaking of the 25th Hospital in Greater Surabaya area in fourth quarter of 2019 and expected to be opened by the end of 2020.
In 2020 Mitra Keluarga will increase bed capacity of 120 beds approximately in the existing hospitals namely Mitra Keluarga Kalideres, Mitra Keluarga Gading Serpong, RS Restu Kasih and RS Cinta Kasih.
Mitra Keluarga Karyasehat Tbk at a glance
The Company built its first hospital back in 1989 and currently owns and operates 24 hospitals, sixteen of which are located in the Greater Jakarta area, four in West Java, three in Surabaya (East Java), and one in Tegal (Central Java) Normally, the hospitals are equipped with emergency rooms, outpatient clinics, inpatient wards, operating rooms, intensive care units and a pharmacy, as well as laboratory and radiology facilities. The hospitals also offer specialized services such as obstetrics, pediatrics, internal medicine, angioplasty, orthopedic surgery and neurosurgery, amongst others.
From its humble beginnings, The Company has transformed into one of Indonesia’s biggest private hospital operators by an intake of 2.8 million patients in 2019 and in terms of hospital bed capacity with 2,876 operational beds as of December 31, 2019
The Company employed more than 7,794 medical professionals including doctors, laboratory staff, nurses and therapists with around 1,251 specialists practicing in all of its hospitals by 2019.
The Company successfully listed its shares in the Indonesia Stock Exchange on March 24, 2015. With 18.0% free-float, the Company has a market capitalization of IDR 28 trillion as of December 31, 2019. (IDX:MIKA).