KPJ Healthcare Reports Robust Q1 FY2024 Performance

KPJ Healthcare Berhad ("KPJ Healthcare" or the "Group") has announced another strong financial result for the first quarter ended 31 March 2024 ("Q1 FY2024"), demonstrating significant growth and operational achievements.

KPJ Healthcare reported a revenue of RM908 million for Q1 FY2024, representing an 11% increase from the same quarter last year. The Earnings Before Interest, Taxes, Depreciation and Amortisation ("EBITDA") reached RM247 million, a 27% year-over-year increase, with the EBITDA margin improving to 27.2% from 23.8% in Q1 FY2023. The Group's Profit After Tax and Minority Interests ("PATAMI") from continuing operations saw an impressive 38% increase, rising to RM76 million from RM55 million in the previous years’ corresponding quarter.

The Group's robust performance is further highlighted by an increase in the inpatient visits to 91,039 patients from 88,036 patients, reflecting an enhancement in bed capacity and operational efficiency. 

Chin Keat Chyuan, President and Managing Director of KPJ Healthcare, stated, “We thank all our stakeholders including our patients, customers, and partners for their continued trust in us as the preferred healthcare provider, which led to another strong performance this quarter. The Group’s overall performance in Q1 FY2024 is a reflection of the strategic measures we implemented to maximise our assets and reduce costs. I am also pleased to report that our hospitals currently in the gestation period — KPJ Bandar Dato' Onn, Damansara Specialist Hospital 2, KPJ Batu Pahat, and KPJ Perlis — have achieved positive EBITDA during the period under review.”

KPJ Healthcare has declared a second interim dividend for FY2024 of 1.00 sen per share, totaling a payment of RM43.6 million. This dividend will be disbursed to KPJ Healthcare shareholders on 5 July 2024.

Chin added, “We anticipate a robust 2024 for KPJ Healthcare, driven by our commitment to providing value-based “Care for Life” services to our patients. We have several exciting initiatives in the pipeline, including our forthcoming rebranding exercise and our collaboration with the Ministry of Health for the Malaysia International Healthcare Megatrends 2024, scheduled to take place from 25 to 27 October. These strategic initiatives are designed to position us as a leader in the healthcare sector and drive our business growth by enhancing our brand recognition and our market reach, as we continue to foster innovative healthcare solutions to meet the evolving needs of our patients.

KPJ Healthcare, being the largest private hospital network in Malaysia, is also redoubling its efforts in the Health Tourism sector, a key growth area for the Group, which saw revenue rising 19% YoY, driven mainly by the Health Traveler Segment. Additionally, KPJ Healthcare is advancing its capabilities with a new robotics programme for minimally invasive surgery, starting with the da Vinci robotic system at Damansara Specialist Hospital 2 (“DSH2”), and planning further expansion across its 29 hospitals. Furthermore, the recent admission of KPJ Damansara Specialist Hospital and DSH2 into the Mayo Clinic Care Network highlights its commitment to improving clinical outcomes and patient experience through innovation and global best practices.

This content is provided by KPJ Healthcare Berhad.

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