IHH Healthcare saw its Q3 2023 revenue and EBITDA increase 27% and 42% respectively, excluding the effects of MFRS 129, the Group’s Q3 2023 revenue and EBITDA increased 19% and 26% respectively over Q3 2022.
The increase it said was mainly driven by higher revenue, cost management, and a credit adjustment in Q3 2023 relating to the application of MFRS 129, offset by translational effects from a weakened TL against RM during the period.
The Group’s Q3 2023 PATMI excluding exceptional items (“PATMI (Excl EI)”) increased 17% to RM368.9 million mainly driven by higher EBITDA, offset by higher net finance costs and lower exchange gain. In addition, there was a higher debit adjustment in Q3 2023 relating to the application of MFRS 129 which mainly resulted from higher depreciation and amortisation on reindexation, deferred tax recognised on the uplifted carrying value of the reindexed assets, and translational effects from a weakened TL against RM during the period. Excluding effects of MFRS 129, the Group’s Q3 2023
PATMI (Excl EI) increased 53% over Q3 2022. The divestment of IMU Health was completed on 31 March 2023, upon which, IMU Health ceased to contribute to the Group’s results.
The Group’s YTD 2023 revenue and EBITDA increased 19% and 20% respectively over YTD 2022. Excluding the effects of MFRS 129, the Group’s YTD 2023 revenue and EBITDA increased 20% and 17% respectively over YTD 2022. The increase in EBITDA was mainly driven by higher revenue and a credit adjustment in YTD 2023 relating to the application of MFRS 129. It is offset by higher cost of operations and translational effects from a weakened TL against RM during the period.
The Group’s YTD 2023 PATMI (Excl EI) decreased 3% to RM1,013.8 million mainly due to higher net finance costs and lower exchange gain. In addition, there was a higher debit adjustment in YTD 2023 relating to the application of MFRS 129 which mainly resulted from higher depreciation and amortisation on reindexation, deferred tax recognised on the uplifted carrying value of the reindexed assets and translational effects from a weakened TL against RM during the period. Excluding the effects of MFRS 129, the Group’s YTD 2023 PATMI (Excl EI) increased 16% over YTD 2022.
