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IHH Healthcare's 1Q26 core net profit (with MFRS129) was at MYR459m (+8% y-o-y, -10% q-o-q), within our and consensus’ estimates at 23%. On a constant currency basis, both topline and EBITDA improved by 16%, though FX headwinds masked this operational strength, dragging headline growth down to +4% and +7% each.
- - Read this at SGinvestors.io -
FX headwinds mask underlying growth.
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Y-o-y headline revenue growth (+4%) was supported by Malaysia (+7% y-o-y) despite fewer working days, and Acibadem (+17%) on stronger inpatient revenue intensity (+28%) and admissions (+13%), following a quick ramp-up of new hospitals – now contributing 36% of IHH Healthcare’s total business (1Q25: 32%).
- - Read this at SGinvestors.io -
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Group EBITDA expanded by 0.6ppts y-o-y, supported by Acibadem (+3.2ppts), Malaysia (+2ppts), and India (+1.4ppt).
Outlook.
- Read more at SGinvestors.io.
Above is an excerpt from a report by RHB Securities Research.
Clients of RHB may be the first to access the full PDF report @ https://www.rhbtradesmart.com/.
Eddy Do RHB Securities Research | https://www.rhbgroup.com/ 2026-05-28
Previous report by RHB:
2026-03-03 IHH Healthcare - Efficiency-Led Growth At a Fair Price; Downgrade to NEUTRAL.
Price targets by 3 other brokers at IHH Healthcare Target Prices.
Listing of research reports at IHH Healthcare Analyst Reports.
Relevant links:
IHH Healthcare Share Price History,
IHH Healthcare Announcements,
IHH Healthcare Dividend Payout Dates & Corporate Actions,
IHH Healthcare News
