JAKARTA – Financial performance of PT Siloam International Hospitals Tbk (SILO) until the end of September (9M) 2024 steadily improved alongside its solid operational performance, including revenue and net profit that increased approximately 10% year-on-year (yoy) each.

According to the press release quoted today (7/11), SILO reported an increase of up to 9.8% yoy in its inpatient admission per September 2024 to 244,976 patients, bringing occupancy rate up by 3% yoy to 68%.

Not only that, SILO’s outpatient visits were also consistently at above 1 million per quarter, thus bringing total outpatient visits up 9.7% yoy to 3.16 million until the end of September 2024.

This solid operational aspect of Siloam then enables its revenue to soar 10.8% yoy to IDR 7.06 trillion in 9M 2024, up from IDR 6.37 trillion as of September 2023.

“The Company’s operational framework emphasizes resource optimization and cost management, with underlying EBITDA growing 8.2% yoy to Rp2.11 trillion, while underlying net profit saw a 10.6% yoy increase to Rp977.8 billion,” added the management in the press release.

SILO is also reportedly working towards the completion of its hospitals’ expansions, including Siloam Makassar that will add 80 more beds and install new facility, as well as Siloam Surabaya Gubeng that will also increase its number of beds to 162 units. Both projects are estimated to be completed in the first quarter (Q1) of 2025.

“Management will maintain its focus on operational excellence as we expand our services and clinical programs to meet the evolving needs of the communities we serve,” concluded Benny Haryanto, President Director of Siloam. (ZH)