PRESS RELEASE
27 August 2015
HMI achieves record FY2015 net profit of RM 27.6 million
Highlights
 Group achieved 18% growth in revenue to RM 345.2 million
 Both Mahkota and Regency expanding to cater for growth
 Healthy cash position with net debt reduced to RM 1.5 million
FINANCIAL HIGHLIGHTS
Revenue
Gross Profit
Net Profit After Tax
Net Profit Attributable to Equity Holders
Basic Earnings per Share (cents)
FY2015
RM’000
345,224
103,058
53,357
27,643
4.79
FY2014
RM’000
292,912
85,834
36,042
16,027
2.78
Change
%
18
20
48
72
69
SINGAPORE - 27 August 2015 - Health Management International Ltd (“HMI” or the “Group”), a regional
private healthcare provider, today announced a record net profit attributable to equity holders of RM 27.6
million for the full year ended 30 June 2015 (“FY2015”).
The Group’s revenue increased by 18% in FY2015, driven by increased patient load and bigger average
bill sizes per patient at both its tertiary hospitals in Malaysia.
As one of the most profitable and established hospitals in Malaysia, Mahkota Medical Centre (“Mahkota”)
in Malacca continued to grow its revenue in FY2015 to RM 229.0 million, an increase of 8% from the
previous year. In Johor, Regency Specialist Hospital’s (“Regency”) strong turnaround continued into the
latest fiscal year with revenue growing to a high of RM 110.9 million, representing a year-on-year increase
of 41%, establishing Regency as one of the fastest growing private hospitals in Malaysia.
The robust overall performance led to an increase of 72% in the Group’s net profit attributable to equity
holders (“PATMI”) to achieve a new PATMI record of RM 27.6 million. This was partially aided by the
recognition of deferred tax asset of RM 9.0 million by the Group, in which approximately RM 5.5 million was
attributable to equity holders.
Cashflow from operations before changes in working capital grew by 26% year-on-year, allowing the Group
to reduce its bank leverage to end the fiscal year at a healthy cash position of RM 39.0 million.
Operational Review
Mahkota Medical Centre
Mahkota maintained its growth trajectory in FY2015 with steady increase in revenue and patient load.
FY2015 also saw the recruitment of more doctors in sub-specialties, more surgeries performed and a larger
average bill size per patient.
The hospital kicked off plans to increase bed and operating theatre capacity within the existing building and
will further invest in expanding its cancer programme to provide a fuller suite of oncology services at its
Mahkota Cancer Centre.
PRESS RELEASE
27 August 2015
Despite regional air travel concerns and Indonesia’s introduction of universal health coverage, foreign
patient volume at Mahkota remained strong. Mahkota’s position as a leading hospital of choice for overseas
patients was also further affirmed when it was conferred the prestigious Frost & Sullivan Best Practices
Award 2015: Malaysia Medical Tourism Hospital of the Year Award.
Regency Specialist Hospital
To accommodate the surging patient load, Regency opened new ward space and expanded its range of
services offered. The hospital also commenced its new open heart surgery programme in FY2015.
Regency has initiated plans to construct a new 10-storey medical outpatient block at the back of the existing
hospital building that will add more capacity for clinic suites, dedicated outpatient services and patient beds.
Looking ahead
In Malaysia, notwithstanding low commodity prices and political uncertainty leading to a weakening of the
Malaysian Ringgit, a healthy rising trend in domestic insurance penetration, an aging population and
increasing regional connectivity are still expected to further contribute to the growth of private healthcare
services.
HMI Executive Chairman and Managing Director, Dr. Gan See Khem said, “We remain confident of the
Group’s ability to deliver organic growth despite the current political and economic uncertainties in the
region. As both hospitals embark on their respective expansion plans, the additional capacity will support
the next phase of growth for the Group.”
*****
About Health Management International Ltd
Health Management International Ltd (“HMI” or the “Group”) is a growing private healthcare provider with
presence in Singapore, Malaysia and Indonesia. The Group’s key assets comprise of two tertiary hospitals
in Malaysia, the 288 bed capacity Mahkota Medical Centre (“Mahkota”) in Malacca and the 218 bed
capacity Regency Specialist Hospital (“Regency”) in Johor. The hospitals are supported by a network of
19 patient referral centres across the region. The Group also owns and operates the HMI Institute of Health
Sciences in Singapore.
For more information, please refer to our website at www.hmi.com.sg.
Investor relations point-of-contact:
Janice Ong / Ben Ong
August Consulting
Tel:
+65 6733 8873
Email: [email protected] / [email protected]
Disclaimer
This release may contain statements which are subject to risks and uncertainties that could cause actual
results to differ materially from such statements. You are cautioned not to place undue reliance on such
statements, which are based on the current views of management on future developments and events.