Q2 2024 IHH Healthcare Bhd Earnings Call Transcript
Key Points
- IHH Healthcare Bhd (XKLS:5225) reported a record revenue of MYR6.1 billion for Q2 2024, surpassing the previous quarter.
- The company declared an interim dividend of MYR0.045 per share, which is MYR0.01 higher than the previous year's interim dividend.
- Hospital occupancy across the group stands at 70%, reflecting strong demand for services.
- Strong growth in medical tourism, particularly in Malaysia, with a 50% increase in revenue from foreign patients.
- Significant expansion plans, including a 200-bed transitional care facility in Singapore and a 180-bed Acibadem City Clinic in Bulgaria by end 2024.
- EBITDA margins in India declined by about 3 percentage points due to the national elections and a one-off write-back in the previous year.
- Medical inflation continues to outpace general inflation, putting pressure on cost containment strategies.
- The Turkish operations were impacted by extended holidays and provincial elections, affecting patient volumes.
- There is a persistent global shortage of nurses, which continues to be a challenge for the healthcare sector.
- Revenue intensity showed a quarter-on-quarter decline in some regions, raising concerns about sustaining growth in the second half of 2024.
Ladies and gentlemen, good morning, and welcome to the second quarter 2024 financials results of IHH Healthcare analyst briefing conference call. (Operator instructions) I must advise you that this conference is being recorded today, 30 of August 2024.
I would now like to hand the conference over to your first speaker today Ms. Penlope Koh from Investor Relations of IHH. Please go ahead, Miss Koh.
Thank you. Good morning, and thank you for joining us this morning. I do apologize for the slight delay that we had experienced this morning due to some technical issues. But anyway, we're happy to now be able to start the webcast and the results briefing.
So again, welcome to joining us for our second quarter 2024 results briefing, whereby we're doing it via a live video broadcast and it's also available on our webcast. So with me today are Dr. Prem Nair, which is our Group Chief Executive Officer; and Mr. Dilip Kadambi, our Group Chief Financial Officer; and Mr. Ashok Pandit,
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