KPJ Healthcare released its FY2023 and Q4FY23 results with its full year revenue increasing 19% to RM3.418 billion compared to prior year of RM2.868 billion. Subsequently, EBITDA and PBT improved by 17% and 37% to RM838 million and RM377.9 million, while PAT rose to RM263 million versus RM166 million in 2022.
For the current quarter, revenue increased 19% to RM911.5 million in comparison to RM765.8 million in the last quarter of 2022, This was contributed from a 4% increase in patient visits to 857,537 versus 820,734 patients in the corresponding quarter, supported with the higher number of beds to 3,643 as compared to 3,437 beds before. The bed occupancy rate (“BOR”) also increased from 64% to 69% in the quarter under review.
The Group’s EBITDA and profit before tax (“PBT”) is at RM194.1 million and RM83.4 million respectively, a decrease of 3% and 9% as compared to the performance in Q4 2022 of RM199.4 million and RM91.7 million mainly due to impact of impairment loss on certain property, plant and equipment and the retirement village business’ investment property in
Australia totaling to RM6.8 million for the quarter.
Overall revenue for Malaysia segment in year 2023 closed at RM3.35 billion, a surge of 19% from RM2,825.3 million in the preceding year. This is mainly contributed from the increase in inpatient visits from 297,071 patients to 350,330 patients in the current financial year, evidenced by the higher BOR to 67% as compared to 58% in year 2022. In addition, the surgery cases grew by 11% from 93,842 cases to 103,767 cases.
The excellent revenue performance contributed to EBITDA improvement by 15% from RM735.1 million to RM842.1 million, while PBT improved by 27% to RM405.2 million as compared to RM318.7 million recorded in the previous financial year. The results were supplemented with the gains on disposal of the Indonesia operations by the Group.
Others
This segment recorded an increase in revenue of 22% to RM70.5 million contributed by increases from KPJ Dhaka of RM6.3 million and KPJU of RM4.8 million. This segment recorded a lower EBITDA loss of RM1.5 million, as compared to the previous
year while loss before tax also improved by 17% to RM27.2 million compared to RM32.7 million in year 2022.
