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LISTED COMPANY - JAKARTA. PT Siloam International Hospitals Tbk (SILO) is preparing to invest between Rp 1.4 trillion and Rp 2 trillion in capital expenditure, or capex, this year. The funds will be used for asset improvements and expansion.
Jimmy Rambing, Head of Public Relations and Media Relations at Siloam International Hospitals, added that the company is optimistic about the business prospects of the hospital sector in 2024. SILO has also seen a steady increase in hospital service usage, reflecting the growing needs of the market.
SILO plans to expand by opening one to two new hospitals each year. Construction and expansion of new hospitals are underway, including Siloam Hospitals Makassar Expansion, Siloam Hospitals Lippo Village LINAC Expansion, Siloam Hospitals Sentosa Bekasi Expansion, and Siloam Hospitals New Gubeng Surabaya.
"With the expansion we are undertaking, we are targeting revenue and EBITDA growth similar to 2023," Jimmy told Kontan.co.id on Sunday (21/4).
SILO sees positive hospital business prospects in 2024. The company aims for revenue and EBITDA growth similar to 2023.
In its financial performance, SILO recorded a net profit of Rp 1.21 trillion in 2023. Siloam's net profit last year surged 73.91% year on year compared to the previous year's Rp 696.49 billion.
Meanwhile, SILO's net revenue reached Rp 11.19 trillion last year. This figure is up 17.57% compared to the same period the previous year of Rp 9.51 trillion.
Of this, specialist income contributed Rp 2.52 trillion and non-specialist income Rp 8.66 trillion. SILO's revenue was derived from various company hospitals, such as RS Siloam Lippo Village, RS Siloam Surabaya, RS Siloam Denpasar, RS Siloam Balikpapan, and RS Siloam Jambi.
SILO's cost of revenue was recorded at Rp 6.73 trillion, up 12.54% compared to last year's Rp 5.98 trillion. As a result, SILO's gross profit also increased by 26.08% to Rp 4.45 trillion compared to 2022's Rp 3.53 trillion.
As of December 31, 2023, SILO's liabilities also grew to Rp 2.93 trillion compared to December 31, 2022's Rp 2.61 trillion. Meanwhile, SILO's total equity as of December 31, 2023, rose to Rp 8.04 trillion, up from December 31, 2022's Rp 7.05 trillion.
Jimmy added that Siloam Hospitals has a number of unique value propositions that set it apart from other private hospitals, such as established infrastructure, medical equipment technology, clinical programs with high complexity, competitive pricing, and the most superior digital services in the healthcare industry.
