PT Mitra Keluarga Karyasehat Tbk · IDX:MIKA
PT Mitra Keluarga Karyasehat Tbk — FY2016 Earnings Presentation
40 slides from PT Mitra Keluarga Karyasehat Tbk's earnings presentation, March 2017
Slide 1: PT Mitra Keluarga Karyasehat Tbk FY2016 Results
FY 2016 -------- Results PT Mitra Keluarga Karyasehat Tbk Company Update FY16 March 2017
Slide 2: Forward Looking Statement
Forward Looking Statement This presentation has been prepared for informational purposes only by PT Mitra Keluarga Karyasehat Tbk (“Mitra Keluarga” or the “Company”) and solely for use in connection with the release of December 31, 2016 audited results of the Company. The information contained in th
Slide 3: Agenda
Agenda 1 Overview 2 Investment Highlights 3 Growth Strategies 4 Financial Highlights 5 Appendix 3
Slide 4: Overview
ro een life love laughter. Section 1 Overview
Slide 5: One of the Largest Private Hospital Groups in Indonesia with Strong Track Record
One of the Largest Private Hospital Groups in Indonesia with Strong Track Record Leading Indonesian Hospital Group Strong Track Record of Growth and Profitability • Largest hospital by patient volume(1) (IDR Bn) 2016 2010 – 16 CAGR compared to private multi-specialty hospitals Revenue 2,435 +15% lis
Slide 6: Focused on Highly Attractive Population Centres in Greater Jakarta and Surabaya
Focused on Highly Attractive Population Centres in Greater Jakarta and Surabaya Located in Areas with Large, Attractive, Captive Population Catchment Areas and Highest Supply of Medical Graduates in Indonesia Tegal Java Greater Jakarta (1) Surabaya Population: 10 MM (4% of total population) (2) Popu
Slide 7: Strong Track Record of Over 25 Years
Strong Track Record of Over 25 Years • Mitra Existing Hospital New Hospital Keluarga Kenjeran Disposed Hospital 2015 • Mitra 2016 Keluarga Cikarang • Mitra Keluarga Depok 2014 2011 • Mitra Keluarga Kelapa Gading • Mitra Keluarga 2009 Kalideres • Mitra Keluarga 2010 Surabaya • Mitra Keluarga 2004 • M
Slide 8: Best-in-Class Business Model with Strong Fundamentals
Best-in-Class Business Model with Strong Fundamentals Business Model Fundamentals Benefits 1 “Community Center Location” to maximize patient volumes and occupancy rates by capturing demand “Mitra Keluarga” branded from the large populations from surrounding communities community hospitals providin
Slide 9: Investment Highlights
Section 2 Section 2 Investment Highlights Investment Highlights
Slide 10: Leading Hospital Operator with Proven Operational Track Record
1 Leading Hospital Operator with Proven Operational Track Record Superior Patient Volume and Profitability Inpatient Days per Doctor 2016 Outpatient Visits per Doctor 2016 500 462 1889 1800 400 365 315 1500 1231 300 1200 1026 200 900 600 100 300 0 0 MIKA Hospital A Hospital B MIKA Hospital A Hospita
Slide 11: Profitable Operations with Minimal Concentration Risk
2 Profitable Operations with Minimal Concentration Risk Minimal Concentration Risk with Largest Hospital Contributing Only 16% of Revenue Total Revenue by Hospital (2016) in IDR Bn 389 328 324 278 260 198 188 184 135 56 55 41 Kelapa Bekasi Barat Bekasi Timur Kemayoran Depok Cibubur Waru Surabaya Cik
Slide 12: Strong and Well-Established in Attractive Greater Jakarta and Surabaya Areas
3 Strong and Well-Established in Attractive Greater Jakarta and Surabaya Areas Attractive Economic and Demographic Fundamentals of Leadership in These Attractive Regions Greater Jakarta and Surabaya Areas… Accounts for 19% of Indonesia’s No. of Private Multi-Specialty Hospitals in … and 32% of Indon
Slide 13: Best-in-Class Community Hospitals
4 Best-in-Class Community Hospitals Best-in-Class Community Hospitals… • Strategically located in attractive population catchment areas with captive patient base – Many patients reside within close proximity to our hospitals – Patients typically visit hospitals within their local communities to avoi
Slide 14: Comprehensive Range of Service Offerings Across All Hospitals
5 Comprehensive Range of Service Offerings Across All Hospitals • Laboratory • Pharmacy • Radiology General Services • Emergency Room • Intensive Care Unit (ICU) Rooms • General Surgery • Obstetrics & • Cardiovascular • Neurosurgery Focus Specialty Gynecology Areas • Internal Medicine • Urology • Or
Slide 15: Proven Track Record of Superior Ramp-up in New Hospitals
6 Proven Track Record of Superior Ramp-up in New Hospitals Cibubur (Opened in 2011) Cikarang (Opened in 2010) Depok (Opened in 2008) No. of Inpatient Days No. of Inpatient Days No. of Inpatient Days 23,576 25,352 41,155 12,903 7,999 5,825 (1) 2011 2014 2011 2014 2008 2014 Occupancy Rate (%) Occupanc
Slide 16: Proven Ability to Attract and Retain High Quality Healthcare Professionals
7 Proven Ability to Attract and Retain High Quality Healthcare Professionals Effective Recruitment Efforts Long-standing Relationships with Our Doctors • Working environment that is conducive to learning given • Continuous investment in their professional development through continuous training, men
Slide 17: Well Qualified and Experienced Management Team
8 Well Qualified and Experienced Management Team Board of Directors • 18 years at Mitra Keluarga • 2 year at Mitra Keluarga (1) • 21 years at Mitra Keluarga • 22 years experience in healthcare industry • 21 years experience in healthcare industry • 24 years experience in healthcare industry • Educat
Slide 18: Growth Strategies
Section 3 Section 3 Growth Strategies Growth Strategies 18
Slide 19: Develop Greenfield Hospitals in Focus Geographical Areas
Develop Greenfield Hospitals in Focus Geographical Areas with Favourable 1 Healthcare Industry Dynamics Strong Pipeline of Hospitals in Greater Jakarta Hospitals in Hospital Site Identified Land Acquired Construction Permits Secured Construction Expected Opening July 2015 Mitra Keluarga Kalideres
Slide 20: Increase Patient Volumes Through Capacity Expansion and Recruitment
Increase Patient Volumes Through Capacity Expansion and Recruitment of 2 Medical Professionals Current Plans for Expansion of Current Portfolio Generates Solid and Consistent Growth 2014 Beds 1,647 Cikarang 20 Depok 2 Cibubur 8 Waru 4 2015 Beds 1,681 * Bekasi Timur 6 Depok Kalideres 8 16 +400 beds W
Slide 21: Increase Revenue Intensity via More Sophisticated and Complex Medical Offerings
3 Increase Revenue Intensity via More Sophisticated and Complex Medical Offerings Increase Our Capabilities to Manage Complexity • Increased acuity • Operating theatres • ICU beds • Co-morbidities • Intensivists • Increased chronic diseases • Critical care nurses • Creating more specialist centres T
Slide 22: Continue to Improve Operating Efficiency
4 Continue to Improve Operating Efficiency Integrated IT Platform Standardized Procurement • Continue to develop an integrated end-to-end • In the process of standardizing procurement of hospital information management system drugs, medical supplies and equipment across all hospitals • Integrate var
Slide 23: Financial Highlights
Section 4 Section 4 Financial Highlights Financial Highlights 23
Slide 24: Value Drivers
Value Drivers Revenue Cost of Sales Operating Costs Profitability Investment Cash Flow Drug and medical Salary and employee Inpatient supplies benefits KPIs Existing sites Capex Security and cleaning Salary and employee services Outpatient benefits Procurement New services Working capital Post-emplo
Slide 25: Key Performance Indicators
Key Performance Indicators FY15 FY16 YoY Inpatient 1,383 1,586 14.7% Revenues by Patient Type Outpatient 758 850 12.1% (IDR Bn) Total 2,141 2,435 13.8% No. of Inpatient Admission (‘000) 105 120 14.9% No. of Outpatient Visits (‘000) 1,612 1,735 7.7% Patient Volume (‘000) 1,717 1,855 8.1% No. of Inpat
Slide 26: Revenue by Inpatient and Outpatient Services
Revenue by Inpatient and Outpatient Services Revenue Breakdown by Services Revenue FY15 Others Revenue FY16 Others 13% Operating 12% Operating Rooms Rooms 7% Drugs and 6% Drugs and Inpatient Medical Inpatient Medical Accommodation Supplies Accommodation Supplies 11% 46% 13% 47% Medical Medical Suppo
Slide 27: Cash Flow: Capital Expenditure
Cash Flow: Capital Expenditure Capital Expenditure (IDR Bn) 650 600 550 500 450 400 350 292 650 300 256 10 250 15 205 200 166 69 207 11 78 150 12 13 39 80 50 13 100 74 10 15 9 120 99 50 27 86 47 45 26 0 9 10 14 15 2011 2012 2013 2014 2015 2016 2017F Construction in progress Medical Equipment Office
Slide 28: Cash Flow: Efficient Working Capital Management
Cash Flow: Efficient Working Capital Management Trade Receivables Days (1) Inventory Days (2) (Days) (Days) 23 23 19 18 FY15 FY16 FY15 FY16 Trade Payables Days (3) Cash Cycle Days (4) (Days) (Days) 36 33 9 5 FY15 FY16 FY15 FY16 (1) Calculated by dividing average trade receivables by revenue per day
Slide 29: Appendix
Section 5 Section 6 Appendix Conclusion and Q&A 29
Slide 30: Audited Financial Statement YTD December 2016
Audited Financial Statement YTD December 2016 31 December 2016 31 December 2015 Consolidated Balance Sheets % Change (Audited) (Audited) ASSETS CURRENT ASSETS Cash and cash equivalents 1,421,663,361,986 2,387,153,764,311 -40.4% Short-term investment 1,135,902,889,600 - Trade receivables Third partie
Slide 31: Audited Financial Statement YTD December 2016
Audited Financial Statement YTD December 2016 31 December 2016 31 December 2015 Consolidated Balance Sheets % Change (Audited) (Audited) LIABILITIES CURRENT LIABILITIES Trade payables Third parties 69,149,515,426 51,442,786,962 34.4% Related parties 21,761,529,519 14,959,090,108 45.5% Other payables
Slide 32: Audited Financial Statement YTD December 2016
Audited Financial Statement YTD December 2016 31 December 2016 31 December 2015 Consolidated Balance Sheets % Change (Audited) (Audited) EQUITY Equity attributable to equity holders of the parent entity Share capital - par value of Rp10 per share Authorized - 50,000,000,000 shares 145,507,360,000 14
Slide 33: Audited Financial Statement YTD December 2016
Audited Financial Statement YTD December 2016 31 December 2016 31 December 2015 % Consolidated Statement of Income (Audited) (Audited) Change REVENUES 2,435,465,884,784 2,140,704,302,267 13.8% COST OF REVENUES (1,279,666,995,162) (1,168,396,805,841) 9.5% % to Revenues -52.5% -54.6% GROSS PROFIT 1,15
Slide 34: Audited Financial Statement YTD December 2016
Audited Financial Statement YTD December 2016 31 December 2016 31 December 2015 % Consolidated Statement of Income (Audited) (Audited) Change INCOME TAX – NET (175,588,192,320) (151,330,241,029) 16.0% % to Revenues -7.2% -7.1% INCOME FOR THE YEAR 720,721,429,886 588,447,243,986 22.5% % to Revenues 2
Slide 35: Audited Financial Statement YTD December 2016
Audited Financial Statement YTD December 2016 31 December 2016 31 December 2015 Consolidated Statement of Cash Flows % Change (Unaudited) (Unaudited) CASH FLOWS FROM OPERATING ACTIVITIES Cash receipts from customers 2,403,829,526,752 2,133,437,453,642 12.7% Cash receipts from finance income 163,839,
Slide 36: Audited Financial Statement YTD December 2016
Audited Financial Statement YTD December 2016 31 December 2016 31 December 2015 Consolidated Statement of Cash Flows % Change (Unaudited) (Unaudited) CASH FLOWS FROM FINANCING ACTIVITIES Payment od cash dividend (363,768,400,000) (291,014,720,000) 25.0% Payment of cash dividends to non-controlling (
Slide 37: Hospital Assets: Network of Community Hospitals
Hospital Assets: Network of 12 Community Hospitals Hospital Start of Operation Bed Capacity Operational Beds (1) Owned Bekasi Barat 1993 272 272 Kemayoran 1998 166 166 Rent(3) Kelapa Gading 2002 167 163 Greater Jakarta Bekasi Timur 2004 290 249 Depok 2008 204 182 Cikarang 2010 162 124 Cibu
Slide 38: Sales and Marketing: Tailored Strategies for Maximum Effectiveness
Sales and Marketing: Tailored Strategies for Maximum Effectiveness OPE Patients Covered Patients • Referrals • Promotion to the insurer’s prospective and existing patients: ─ From our specialists within the hospital ─ Free health screenings for prospective network and external doctors and clinics du
Slide 39: Indonesia's National Health Insurance (JKN)
Indonesia’s National Health Insurance (JKN) Universal Health Coverage to be Achieved by 2019 Impact on Healthcare Services Industry • Commenced roll-out in January 2014 to provide • JKN is expected to increase both public and universal health coverage by 2019 in several private healthcare expenditur
Slide 40: Thank You
Thank You PT Mitra Keluarga Karyasehat Tbk Jl. Bukit Gading Raya Kav. 2 Kelapa Gading Permai Jakarta 14240, Indonesia Phone : (62 21) 45852700 Fax : (62 21) 45852727 E-mail : corporate.secretary@mitrakeluarga.com investor.relations@mitrakeluarga.com Website : www.mitrakeluarga.com 40
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