- Raffles Medical (SGX:BSL)'s FY22 earnings grew 71%y-o-y to S$144m, above our estimates, a record-breaking set of results led by return of both local and foreign patients despite tapering of contributions from COVID-19 related services.
- - Read this at SGinvestors.io -
- Healthcare services has doubled that of pre-COVID (2H19 revenue) while we estimate hospital services should be close to pre-COVID levels. Similar trends observed, 2H22 EBTIDA +50% y-o-y to S$129m. 2H22 EBITDA margins expanded to 34%, highest EBITDA margins achieved. 2H22 earnings +87% h-o-h to S$84m.
- 2H22 revenue from Singapore and Greater China were relatively stable +1% y-o-y and -1% y-o-y respectively while the rest of Asia grew 14% y-o-y.
- - Read this at SGinvestors.io -
Raffles Medical – Key business updates / highlights
- Read more at SGinvestors.io.
Above is the excerpt from report by DBS Group Research.
Clients of DBS may access the full report in PDF @ https://www.dbs.com/insightsdirect/.
Rachel TAN DBS Group Research | https://www.dbs.com/insightsdirect/ 2023-02-28
Read also DBS's most recent report:
2024-02-27 Raffles Medical - Normalised To Pre-COVID Levels.
Previous report by DBS:
2023-11-07 Raffles Medical Group - Earnings Moderate Post Normalisation.
Price targets by 5 other brokers at Raffles Medical Target Prices.
Listing of research reports at Raffles Medical Analyst Reports.
Relevant links:
Raffles Medical Share Price History,
Raffles Medical Announcements,
Raffles Medical Dividends & Corporate Actions,
Raffles Medical News Articles
