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Quarterly Report For The Financial Period Ended 31 December 2016

Financials Archive

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Condensed Statements Of Comprehensive Income
For The Financial Year Ended 31 December 2016

Comprehensive Income

Audited Condensed Statements Of Financial Position
As At 31 December 2016

Financial Position

Review Of The Performance Of The Company And Its Principal Subsidiaries

Additional information as required by Appendix 9B of Bursa Malaysia Listing Requirements:

  1. Current quarter compare with the corresponding quarter of the preceding year (3 months)

    The Group's revenue for the current quarter ended 31 December 2016 was RM745.0 million, an increase of 6% as compared to RM701.6 million in the corresponding quarter of the preceding year. The profit before zakat and tax for the 3 months ended 31 December 2016 was recorded at RM63.6 million, an increase of 33% from RM48.1 million in 2015 in line with the increase in revenue.

    Malaysia

    The Malaysia segment reported revenue of RM699.2 million increase by 5% from RM664.3 million in the same quarter in 2015. The revenue for the current quarter was higher as compared to the corresponding quarter of the preceding year mainly attributed by the increase in revenue generated by the newly opened hospitals and existing hospitals that had turnaround during the quarter.

    Indonesia

    The Indonesia segment reported revenue of RM20.3 million, 13% increase as compared to RM17.9 million recorded in preceding year. The increase in revenue for this segment is mainly due to the increased of number of patients in both Indonesian hospitals.

    EBITDA for this segment is reported at RM12.7 million, significantly increased by more than 100% as compared to EBITDA of RM1.7 million reported in the corresponding quarter of the preceding year. Profit for the current quarter was reported at RM7.9 million, an increase of profit by 220% as compared to RM2.5 million profit in the corresponding quarter of the preceding year.

    Australia

    Revenue from Australia segment was reported at RM9.0 million, increased by 22% as compared to revenue in the corresponding quarter of the preceding year which was reported at RM7.4 million. The increase is mainly attributable to the higher capacity of the retirement village, with additional beds which has been opened in staggered between middle of 2015 up to the month of May 2016.

    EBITDA for this segment is reported at RM1.3 million, improved by 117% as compared to EBITDA of (RM7.6 million) reported in the corresponding quarter of the preceding year. Losses for the current quarter was reported at RM2.4 million, an improvement of 77% as compared to RM10.8 million loss in the corresponding quarter of the preceding year.

    Others

    Revenue from this segment was reported at RM16.5 million, increased by 37% from RM12.0 million in 2015, mainly contributed by additional hospital services available in KPJ Dhaka which resulted in increase in revenue of RM4.5 million. The revenue from newly added facilities is still trailing behind the additional cost incurred, hence, growth from expansion is yet to be translated into profit.

  2. Current financial year compared to prior financial year (12 months)

    The Group's revenue for the current year ended 31 December 2016 was RM3,021.1 million, an increase of 6% as compared to RM2,847.6 million in the corresponding period in 2015. The profit before zakat and tax for the 12 months ended 31 December 2016 was recorded at RM210.2 million a slight increase in comparison to RM209.6 million in 2015.

    Malaysia

    The Malaysia segment reported revenue of RM2,855.6 million increased by 5% from RM2,711.9 million in the same period in 2015. Higher revenue recorded for the current year was mainly attributed by the newly opened hospitals and existing hospitals that had turnaround during the year. EBITDA for this segment was recorded at RM411.7 million in this year, an improvement of 8% as compared to RM382.0 million recorded in 2015.

    In line with the increase in EBITDA, profit before zakat and tax also increased at RM214.2 million compared to RM213.3 million in the corresponding preceding year by 3%.

    Indonesia

    The Indonesia segment reported revenue of RM59.6 million, an increase of 15% as compared to RM52.0 million recorded in the same period of 2015. The increase in revenue for this segment is mainly due to the increase in number of patients in both Indonesian hospitals. In line with the increased in revenue, the EBITDA and profit before zakat and tax have also increased.

    EBITDA for this segment is reported at RM15.1 million, significantly improved by more than 100% increase as compared to EBITDA of RM4.3 million reported in the preceding year. The profit had also increased significantly, contributed by mainly hospitals that had passed its gestation period.

    Australia

    Revenue from Australia segment was reported at RM51.5 million, about 28% increased as compared to revenue reported in the preceding year which was reported at RM40.3 million. The increase is mainly attributable to higher capacity of the retirement village, with additional beds which has been opened in staggered between middle of 2015 up to the month of May 2016.

    EBITDA for this segment is reported at (RM4.8 million), improved with 62% reduction as compared to EBITDA of (RM12.6 million) reported in the preceding year. In line with the improved in revenue and EBITDA, lower loss was also reported for this financial year at RM1.7 million against the loss in 2015 of RM16.6 million.

    Others

    Revenue from this segment was reported at RM54.5 million, increased by 26% from RM43.4 million in 2015 and the loss was recorded at RM1.2 million as compared to RM9.8 million profit in 2015. The increase of revenue in this segment was mainly contributed by additional hospital services available in KPJ Dhaka which resulted in increase in revenue by RM5.4 million in 2016 as compared to preceding year. The revenue from newly added facilities is still trailing behind the additional cost incurred, hence, growth from expansion is yet to be translated into profit.

Current Year Prospects

In the year 2016, it was evidenced that the demand for healthcare services has increased in line with the population growth, better life expectancy, rapid ageing and the rising of middle income group. The Group will remain focused in maintaining its market position through enhancing its capacity and continuously improve service delivery to patients.

For the 2017, the Group envisage that the revenue growth from the new start up and existing hospitals will continue to improve however the result will be moderated as most new greenfield hospitals are still operating within their gestation period of three to five years. In light of these challenging economic environment and entry of the new players to the industry, the Group expects to deliver moderate performance growth.

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