KPJ Healthcare recorded total revenue of RM689.1 million for the current quarter, an increase of 11% compared to RM622.3 million in the previous corresponding quarter. During the quarter under review, outpatient visits increased to 730,992 from 707,177, while inpatient visits increased to 71,007 from 57,722 in the previous corresponding quarter.
The group recorded a total EBITDA of RM138.9 million, a 14% increase from RM121.7 million in the previous corresponding quarter and a total profit before tax of RM37.8 million, an increase of 83% from RM20.6 million recorded in the previous corresponding period. The increase was driven primarily by the performance of the Malaysia segment. Malaysia segment recorded total revenue of RM655.5 million for the current quarter, an increase of 11% compared to RM593.1 million in the previous corresponding quarter. During the quarter under review, outpatient visits increased to 687,895 from 658,290, while inpatient visits increased to 67,387 from 55,425 in the previous corresponding quarter.
For the financial year 2021, the group recorded total revenue of RM2,626.8 million, an increase of 10% against RM2,397.4 million recorded in 2020. The increase was due to increased activities throughout the year, including greater collaboration with the public healthcare sector to treat COVID-19 patients, higher COVID-19 screening, laboratory testing, and vaccination services. Patient visits increased to 3,055,907 in 2021 from 2,876,438 in 2020. Group hospitals also performed 87,051 surgery cases and 15,802 delivery cases in 2021, an increase of 7% and
31% respectively in comparison to 2020. The Group recorded a total EBITDA of RM529.5 million in 2021, lower by 2% from RM538.9 million in 2020. The Group recorded a total PBT of RM115.6 million in 2021, a decrease of 23% from RM150.8 million in 2020, mainly due to the increase in materials cost as a result of complying with the COVID-19 standard operating procedure requirement, usage of personal protective equipment by our employees and compulsory requirement for RT-PCR test for all inpatients had resulted to higher operating costs during this COVID-19 pandemic. In addition, the Group made a reversal of provisions in 2020 that was not repeated in 2021.
The Malaysia segment recorded total revenue of RM2,494.3 million in 2021, an increase of 9% compared to RM2,285.4 million in 2020. In 2021, patient visits increased to 2,840,022 from 2,688,537 in 2020. The growth in revenue was mainly attributed to the improvement in hospital activities, especially with the relaxation from extended MCO and the introduction of NRP by the Malaysian Government. The Group’s performance in 2020 was adversely
impacted by the enforcement of the MCOs which resulted in fewer patient visits and lower activities at the hospitals.
The Malaysia segment recorded a total EBITDA of RM542.7 million, a decrease of 3% compared to RM556.8 million, while PBT was recorded at RM168.3 million, a decline of 18% from RM204.0 million last year.
Even though the Malaysia segment recorded higher revenue during the period, EBITDA and PBT were lower due to higher fixed costs, the incremental cost for SOP compliance, and losses incurred from new hospitals that are still in their gestation period. In addition, the Group made a reversal of provisions in 2020 that was not repeated in 2021.
Six hospitals in Malaysia renewed their lease rental agreement with Al-‘Aqar Healthcare REIT for another 15 years, leading to an increase in the depreciation of right-of-use (“ROU”) assets and interest on lease liabilities in accordance to MFRS 16 Leases, resulting in additional expenses of RM7.5 million.
KPJ Indonesian hospitals recorded 79,889 patient visits in 2021 in comparison to 62,816 in 2020. The increase in revenue from the Indonesian hospital of RM37.0 million in 2021 in comparison to RM26.8 million in 2020 was mainly due to a higher number of admissions of COVID-19 patients. In addition, the Group’s aged care and retirement village in Australia, Jeta Gardens, recorded a higher occupancy rate of 95% for the year.
