- IHH Healthcare delivered PATMI (ex EI and MFRS 129) of MYR2.2bn (+13% y-o-y) on revenue of RM24.3bn (+14% y-o-y), above our expectations. The key revenue drivers were 16% y-o-y growth in patient volumes and a 17% y-o-y growth in revenue intensity for its hospital operations.
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Sustained momentum in core operations
- FY24 hospital and healthcare EBITDA rose 17% y-o-y on higher revenue, partially offset by higher staff cost and other operating expense such as utilities. Accordingly, IHH Healthcare recorded group EBITDA (ex MFRS) at MYR5.5bn (+14% y-o-y) and core PATMI at MYR2.2bn (+13% y-o-y).
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- IHH Healthcare also declared final dividend of 5.5 sen, bringing total FY24 IHH Healthcare's dividends to 10.0 sen (vs 9.0 sen of ordinary dividends in FY23), representing a payout ratio of 40%.
Execution of operational expansion and initiatives to drive revenue intensity progressing well.
- Read more at SGinvestors.io.
