Lippo Village, Tangerang, Indonesia
Monday, April 2, 2018
PT Siloam International Hospitals Tbk (“Siloam”) last Thursday announced at its Annual General Meeting of Shareholders (“AGMS”) the approval and ratification of Annual Report of the Company for the financial year ended on December 31, 2017. The Board of Commissioners (“BoC”) and Board of Directors (“BoD”) composition remains the same.
With 31 operational hospitals by the end of 2017, Siloam recorded Gross Operating Revenue (“GOR”) of Rp 5.8 trillion, up 13.2% yoy. Earnings Before Interest, Tax, Depreciation and Amortization (“EBITDA”) grew by 8.8% yoy to Rp 733.0 billion. Net Profit amounted to Rp 93.6 billion, up by 8.9% yoy. Siloam served 2,207,062 out-patient (“OPD”) visits and 185,768 in-patient (“IPD”) admissions; up by 16.7% and 7.7% yoy respectively. Emergency department treated 262,708 cases, up by 8.9% yoy.
Siloam will continue to focus on expanding its presence in Indonesia. In the last 2 months, Siloam has held 2 topping-off ceremonies. The first topping-off ceremony was held on February 8, 2018 in Kelapa Dua, Tangerang for Siloam General Hospital Kelapa Dua (“RSUS KD”), a 200 bed hospital that will provide round the clock care for BPJS Kesehatan patients. The second topping-off ceremony was held on March 23, 2018 in Tegal Rejo, Yogyakarta for Syubbanul Wathon General Hospital (“RSUSW”), a 180 bed hospital. RSUSW is Siloam’s and Lippo Group’s first partnership with Pengurus Besar Nahdlatul Ulama (“PBNU”), the largest Islamic organization in Indonesia.
John Riady, President Commissioner of Siloam stated, “On behalf of the BoC, I would like to thank all the fine staff of our hospitals for their hard work and dedication in providing better health care to Indonesians. I would also like to thank our business partners and government regulatory partners for building capacity and trust across the health system in Indonesia. I wish to finally thank the shareholders and investors for their trust in Siloam Hospitals in its efforts to build the best hospital network in Indonesia.”
Ketut Budi Wijaya, President Director of Siloam stated, "The year 2017 is marked with record breaking hospital opening, 8 new hospitals opened in a year. The opening of our hospitals is not merely to provide international quality healthcare to the community. We believe that the nation's development is the development of education, healthcare and economics. By opening more hospitals, we are empowering the community through recruitment and placement of local workforces. We are committed to contribute to the nation’s development by opening more hospitals across the archipelago of Indonesia. On behalf of the BoD, I would like to express my gratitude and appreciation for the trust that customers have given to Siloam Hospitals. I would also like to thank the doctors, nurses and staff who have given their dedication and contribution in achieving affordable international quality healthcare for the wider public. I am also thankful to our business partners and the government for their continued cooperation with us throughout. Finally, I would like to thank and convey my appreciation to our Shareholders, BoC for their guidance and trust, to the BoD in managing the largest private hospital network in Indonesia.”
Siloam is a subsidiary of PT Lippo Karawaci Tbk (“LPKR”), the largest listed property company in Indonesia by total assets and revenues, anchored by a large land bank and solid recurring income base. LPKR's businesses comprises of Residential/Township, Retail Malls, Hospitals, Hotels and Asset Management.
Siloam now operates 32 hospitals in 23 cities throughout the country receiving more than 2 million visits & admissions and carrying out more than 55,300 surgeries every year. The 6,500 beds capacities are supported by about 2,700 specialists and general practitioners as well as over 9,800 nurses and support staff. It also manages the first JCI accredited hospital in Indonesia and a repeat winner of “Frost & Sullivan, Indonesia’s Healthcare Service Provider of the Year”. Siloam is listed on the Indonesian Stock Exchange under the ticker name “SILO” and a market capitalization of Rp 13.0 trillion or USD 945.6 million as of March 29, 2018.
For more information, please contact:
Anastasia Trivena Haliem
Investor Relations Manager
Siloam Hospitals Group
This press release has been prepared by PT Siloam International Hospitals Tbk (“Siloam”) and is circulated for the purpose of general information only. It is not intended for any specific person or purpose and does not constitute a recommendation regarding the securities of Siloam. No warranty (expressed or implied) is made to the accuracy or completeness of the information. All opinions and estimations included in this release constitute our judgment as of this date and are subject to change without prior notice. Siloam disclaims any responsibility or liability whatsoever arising which may be brought against or suffered by any person as a result of reliance upon the whole or any part of the contents of this press release and neither Siloam nor any of its affiliated companies and their respective employees and agents accepts liability for any errors, omissions, negligent or 3 otherwise, in this press release and any inaccuracy herein or omission here from which might otherwise arise.
Forward-Looking Statements. Certain statements in this release are or may be forward- looking statements. These statements typically contain words such as "will", "expects" and "anticipates" and words of similar import. By their nature, forward looking statements involve a number of risks and uncertainties that could cause actual events or results to differ materially from those described in this release. Factors that could cause actual results to differ include, but are not limited to, economic, social and political conditions in Indonesia; the state of the healthcare industry in Indonesia; prevailing market conditions; increases in regulatory burdens in Indonesia, including environmental regulations and compliance costs; fluctuations in foreign currency exchange rates; interest rate trends, cost of capital and capital availability; the anticipated demand and selling prices for our healthcare and related capital expenditures and investments; the cost of construction; availability of healthcare; competition from other companies and venues; shifts in customer demands; changes in operation expenses, including employee wages, benefits and training, governmental and public policy changes; our ability to be and remain competitive; our financial condition, business strategy as well as the plans and objectives of our management for future operations; generation of future receivables; and environmental compliance and remediation. Should one or more of these uncertainties or risks, among others, materialize, actual results may vary materially from those estimated, anticipated or projected. Specifically, but without limitation, capital costs could increase, projects could be delayed and anticipated improvements in production, capacity or performance might not be fully realized. Although we believe that the expectations of our management as reflected by such forward-looking statements are reasonable based on information currently available to us, no assurances can be given that such expectations will prove to have been correct. You should not unduly rely on such statements. In any event, these statements speak only as of the date hereof, and we undertake no obligation to update or revise any of them, whether as a result of new information, future events or otherwise.