Sunway Healthcare released its financial results after a high-profile listing on the Main Market. The group saw revenue increase by 24% y-o-y to RM587 million (Q1FY2025: RM474.0 million), driven primarily by higher patient volumes across the hospital network, with notable growth in foreign patient revenue arising from increased inflows from Indonesia, China and Cambodia.
Profit attributable to owners of the company was 12% lower at RM33.3 million (Q1FY2025: RM38.8 million), mainly impacted by higher depreciation and finance expenses following recent expansions
During the quarter growth was supported by solid contributions from the Group’s flagship SMC Sunway City, alongside continued ramp-up at SMC Velocity, SMC Penang, SMC Damansara and SMC Ipoh. The expansion of licensed bed capacity across the network continued to drive higher hospital activities.
Foreign patient revenue grew from RM58.8 million to RM86.6 million y-o-y, reflecting a robust growth of 47%. This increase was primarily attributable to the higher inflow of patients from Indonesia, China and Cambodia, underscoring the Group’s strengthening position as a trusted healthcare provider within the region.
EBITDA growth was underpinned by stronger underlying performance of newly operational hospitals, namely SMC Damansara and SMC Ipoh, partially offset by higher cost base. These included staff costs and selling and marketing expenses, which were in line with capacity expansion as well as one-off costs associated with the Group’s recent listing exercise.
Excluding IPO-related expenses and other nonrecurring costs, normalised EBITDA increased by 28% y-o-y. Profit before tax declined 7% y-o-y to RM43.9 million, primarily due to higher finance costs and depreciation following capacity additions. The Group maintains a solid balance sheet, supported by healthy operating cash flows and moderated gearing following its recent IPO.
