- Raffles Medical (SGX:BSL) reported 1H25 PATMI of S$32.1m (+4.8% y-o-y), supported by stable operational performance across its core segments. We deem the results broadly within market expectations at ~48% and 46% of our and street’s full year estimates, respectively, given the seasonally stronger second half.
Hospital Services is biggest bright spot
- - Read this at SGinvestors.io -
- Meanwhile, its insurance unit’s sales grew by 10% y-o-y to S$94.9m and incurred a narrower operating loss of S$3.1m (-51.7% y-o-y), mainly bolstered by more rigorous claims adjudication and prudent expense management.
China hospitals continue to narrow losses
- - Read this at SGinvestors.io -
- Going forward, strategic partnerships with Shanghai’s Renji Hospital and Chongqing’s First Affiliated Hospital should enable its China hospitals to better integrate international standards with local expertise, thus potentially leading to higher load volumes/utilisation. The group is maintaining its guidance of EBITDA breakeven by end-2026.
Focus on improving operating leverage
- Read more at SGinvestors.io.
