PT Medikaloka Hermina Tbk · IDX:HEAL
PT Medikaloka Hermina Tbk — Q1 2020 Earnings Presentation
20 slides from PT Medikaloka Hermina Tbk's earnings presentation, May 2020
Slide 1: PT Medikaloka Hermina Tbk 1Q 2020 Presentation
PT Medikaloka Hermina Tbk 1Q 2020 Presentation May 2020
Slide 2: Hermina – Our Team
Hermina – Our Team President 36 The Asset dr. Hasmoro Country Awards 2018 Director & CEO Years of Experience Best Deals -Southeast Asia Co-Founder and MD, 36 Yulisar Khiat Operational and Years of Experience General Affairs Co-Founder and MD, dr. Binsar Parasian 34 Medical and Simorangkir Years of E
Slide 3: 1. Company Overview
1. Company Overview H RM S4 HERMINA > @
Slide 4: Introduction to Hermina
Introduction to Hermina Hermina is one of the largest hospital groups in Indonesia with more than 35 years of experience in women and children care and a differentiated business model. Hermina is uniquely positioned to take advantage of low healthcare penetration and universal health coverage roll-o
Slide 5: Service Offering Overview
Service Offering Overview Hermina hospitals are a network of general hospitals with a significant strength and wide offering in women and children care Hermina Hospital Facility Type B • 8 Type B general hospitals with fully 8 hospitals advanced center of excellence & sub- specialist care Pharmacy R
Slide 6: Corporate History
Corporate History Company Milestones ◼ 2017: Established 4 new hospitals ◼ Company restructured ownership to ◼ Established 3 new hospitals and ◼ Changed the non-profit consolidate 28 hospitals under MH ◼ Established the first ◼ Made the first acquired 2 hospitals organization status into a ◼ 2018: E
Slide 7: Our Nationwide Hospital Network
Our Nationwide Hospital Network Our Nationwide Hospital Network Type B Hospitals Type C Hospitals • Pandanaran • Mekarsari • Balikpapan • Pekalongan • Tangkubanprahu • Serpong • Medan • Pekanbaru • Sukabumi • Banyumanik • Podomoro • Kendari • Tangerang • Solo • Purwokerto • Wonogiri1 • Arcamanik • C
Slide 8: 2. Financial Update
2. Financial Update AS H RM S4 HERMINA ~ a
Slide 9: Resilient Revenue and EBITDA Performance Despite Pandemic
Resilient Revenue and EBITDA Performance Despite Pandemic Total Revenue Gross Profit & Gross Margin (IDR billions) (IDR billions, %) Growth: 9.1% 700.0 47.1% 44.7% 50.0% 424.6 440.2 40.0% 983.9 500.0 901.5 30.0% 300.0 20.0% 100.0 10.0% 1Q19 1Q20 (100.0) 1Q19 1Q20 0.0% Gross Profit Gross Margin EBITD
Slide 10: Key Balance Sheet Items – Working Capital Turnover Days
Key Balance Sheet Items – Working Capital Turnover Days Trade Receivable Days1 Cash Conversion Cycle Days (Days) (Days) 85.6 75.8 79.4 53.6 45.8 48.1 43.1 21.7 2017 2018 2019 Mar 20 2017 2018 2019 Mar 20 Inventory Days2 (Days) Net Working Capital 11.0 10.8 11.7 (IDR billions) 9.7 2017 2018 2019 Mar
Slide 11: Stable Growth in Both Private and JKN Patients
Stable Growth in Both Private and JKN Patients Inpatient Days Inpatient Days by Payor Type Growth: 11.0% Non- Non- JKN, JKN, 274K 36% JKN, 34% JKN, 247K 64% 66% 1Q19 1Q20 2019 1Q20 Outpatient Visit Outpatient Visits by Payor Type Consistent Non- 1.6 M 1.6 M Non- JKN, JKN, JKN, 40% JKN, 45% 55% 60% 1
Slide 12: Consistent Improvement in EBITDA Margin
Consistent Improvement in EBITDA Margin (IDR billions) 1Q19 1Q20 Revenue 901.5 983.9 EBIT 138.8 169.2 % Margin 15.4% 17.2% + Depreciation and Amortization (D&A) 50.8 59.9 Adjustment for back non-cash items1 + Post-employment benefits 9.4 10.3 + Allowance for impairment losses 21.8 10.2 Adjustment fo
Slide 13: Healthy Balance Sheet With 0.5x Net Debt-to-EBITDA
Healthy Balance Sheet With 0.5x Net Debt-to-EBITDA Total Debt / Net Debt / Leverage Ratio Maturity Profile (1Q 2020) (IDR billions, x) 1.9 <1 yr 2500.0 1.7 maturity 1-10 yr 17% maturity 83% 1.2 2000.0 0.9 0.9 0.8 IDR 0.5 0.7 1,267.5 bn 1500.0 1,422 1,294.6 1,267.5 0.2 1,099.6 1000.0 865.8 701.3 -0.3
Slide 14: Consistent Positive Cash Flow From Operations to Partly Fund Capex
Consistent Positive Cash Flow From Operations to Partly Fund Capex Cash Flow Cash and Cash Equivalents (IDR billions) (IDR billions) 1,100.1 745.8 289.5 593.3 322.5 84.4 620.7 170.2 152.5 322.4 303.8 572.6 480.8 203.2 393.6 365.0 241.7 (156.8) (55.6) (485.7) 2016 2017 2018 2019 1Q20 (605.7) (880.9)
Slide 15: Attractive Share Valuation With Improving ROIC
Attractive Share Valuation With Improving ROIC Share Price and LTM EV/EBITDA Multiple (IDR) 4,500 Executed price of shares purchased 21.0 (x) 4,000 by the Management 19.0 3,500 17.0 15.0 3,000 13.0 2,500 11.0 2,000 9.0 1,500 7.0 Share Price (LHS) LTM EV/EBITDA Multiple (RHS) Track Record of Returnin
Slide 16: 3. Hospital Development
3. Hospital Development H RM S4 HERMINA > @
Slide 17: Hospitals Under Development
Hospitals Under Development Ground Piled & Finishing Opening Hermina Manado Breaking Structure Architecture PLAN 1Q19 Jul 2019 - 1Q20 4Q19 - 2Q20 2Q20 PROGRESS 100% 100% 73% Ground Piled & Finishing Hermina Kutabumi Breaking Structure Architecture Opening PLAN Jan Jan 2020 – 3Q20 2Q20 - 4Q20 4Q20 20
Slide 18: 4. Appendix
4. Appendix ~ a H pH s, HERMINA RN
Slide 19: Investor Relations Contact and Coverage
Investor Relations Contact and Coverage Investor Relations Contact: ir@herminahospitals.com Upcoming Events: • Credit Suisse 2020 Asia Healthcare Virtual Conference (June 10th – 12th, 2020) • J.P. Morgan Indonesia Virtual Healthcare Day (June 11th, 2020) Analyst Coverage: Brokerage Company Analyst S
Slide 20: PT Medikaloka Hermina Tbk
PT Medikaloka Hermina Tbk www.herminahospitals.com
PT Medikaloka Hermina — Q1 2020 Earnings Presentation on 6ix