Indonesia’s Largest,
Fastest Growing,
World Class Hospital Group
Q1 2015 Results
Disclaimer
This presentation has been prepared by PT Siloam International Hospitals, Tbk (SILO ) and is circulated for the purpose of general information only. It is not intended for any specific person or purpose and does not constitute a recommendation regarding the securities of SILO. No warranty ( expressed or implied ) is made to the accuracy or completeness of the information. All opinions and estimations included in this report constitute our judgment as of this date and are subject to change without prior notice. SILO disclaims any
responsibility or liability whatsoever arising which may be brought against or suffered by any person as a result of reliance upon the whole or any part of the contents of this presentation and neither SILO nor any of its affiliated companies and their respective
employees and agents accept liability for any errors, omission, negligent or otherwise, in this presentation and any inaccuracy herein or omission here from which might otherwise arise.
Forward –Looking Statements
The information communicated in this presentation contains certain statements that are or may be forward looking. These statements
typically contain words such as “will”, “expects” and “anticipates” and words of similar import. By their nature, forward looking statements involve a number of risks and uncertainties that could cause actual events or results to differ materially from those described in this presentation. Factors that could cause actual results to differ include, but are not limited to, economic, social, and political conditions in Indonesia ; the state of the property industry in Indonesia; prevailing market conditions; increases in regulatory burdens in Indonesia, including environmental regulation and compliance cost; fluctuations in foreign currency exchange rates; interest rate trends, cost of capital and capital availability; the anticipated demand and selling prices for SILO developments and related capital expenditures and investments; the cost of construction; availability of real estate property; competition from other companies and venues; shifts in customer demands; changes in operation expenses, including employee wages, benefits, and training, governmental and public policy
changes; SILO’s ability to be and remain competitive; SILO’s financial condition, business strategy as well as the plans and objectives of
Contents
Where We Are In Lippo Karawaci
01
Highly Experienced & Professional Management
02
The Vision
03
The Journey
04
The Operations
05
A Day At Siloam
06
The Strategy & Business Model
07 - 09
Premier Private Hospital Group
10 - 13
4
SILO Ownership Structure
As of 31 Mar 2015
No. of Outstanding Shares : 23,077,689,619 Code : LPKR.JK ; LPKR IJ
LIPPO RELATED COMPANIES
25.40 %
DEVELOPMENT REVENUE
RESIDENTIAL & URBAN DEVELOPMENT
•
Lippo Village (Millenium Village)
•
Lippo Cikarang (Orange County)
• Tanjung
Bunga
•
San Diego Hills Memorial Park
• Kemang Village • The St. Moritz • City of Tomorrow • Park View Apartments •The Nine Residence •Holland Village •Lippo Thamrin Office • St Moritz Panakukang • Embarcadero
RECURRING REVENUE
HOSPITALS
COMMERCIAL
MANAGEMENT
ASSET
• Siloam Hospital
s
• Retail Malls
•
Aryaduta Hotels
• Town
Management
Services,
Leisure and
Restaurants
• REIT,
Mall & Hotel
Management
PUBLIC
5
Highly Experienced & Professional Management
Board of Directors
Romeo Lledo President
Director
dr. Andry Director, Chief
Enterprise & Operational Officer
dr. Anang Prayudi Director, Network and
Development
Prof. George Mathew Director, Talent and
Development dr. Grace Frelita
Director, Quality
Kailas N. Raina Director, Chief Financial Officer
Board of Commissioners
Ketut Budi Wijaya President Commissioner
Theo L. Sambuaga Commissioner Independent Commissioner Farid Harianto
Independent Commissioner
Prof. Dr. H. Muladi, S.H Independent Commissioner Rahmawaty
Commissioner dr. Gershu Paul
6
Reach
Scale
International
Quality
The Vision
Affordable and Accessible Healthcare
to all socio economic segments
Godly
Compassion
By 2017..
•
Beds
4,800 to 10,000
•
Patients per annum
2 million to 15 million
•
Hospitals
The Journey
1996
–
2006: Learning Phase
2007
–
2010: Consolidation Phase
2011 to Date: Expansion Phase
1996
SH Lippo Village
2002
2011
2012
2013
2014
2017
SH Lippo Cikarang
SH Surabaya
SH Kebon Jeruk
SH Balikpapan
SH Jambi SH MRCCC
RSUS
SH Manado
SH Makassar
SH Palembang
SH Cinere
SH Bali
SH Simatupang
BIMC Kuta
BIMC Nusa Dua
SH Medan
Asri
SHLV
– Indonesia’s First Hospital to be
Accredited and Re-accredited by JCI
(2007, 2010 and 2014)
2013
–
The Company
successfully completed IPO
BIMC Nusa Dua
– Indonesia’s First
Hospital to be Accredited by ACHS
Australia (2014)
8
The Operations
Unrivalled network across Indonesia
JCI
Sumatra Population : 50.6 mio
Kalimantan Population : 13.8 mio
Java Population : 136.6 mio
Sulawesi Population : 17.4 mio
Papua Population : 3.6 mio
Bali Population : 3.9 mio
Nusa Tenggara Population : 9.2 mio
Maluku Population : 2.6 mio
Jakarta Population : 10 mio
Greater Jakarta Population : 28 mio
Operational Hospitals (20)
Future Developments (46)
9
A Day At Siloam
316
Inpatient
Admissions
4,182
Outpatient
Visits
5
Cardiac
Procedures
100
Dialysis
Procedures
5
Neuro
Surgeries
2
Cardiac
Surgeries
19
Deliveries
8,728
Laboratory
Tests
469
Emergency
Visits
57
Major
10
4 Pillar Foundation
The Strategy & Business Model
Siloam Hospitals’ four pillar foundation has been key to the success of our existing hospitals
and will serve as the basis for replicating this success at our expansion hospitals…
1
Emergency
Excellence in
Emergency Services
1-500-911
2
Technology
3
Telemedicine
4
Doctors
State-of-the-Art
Medical Equipment
and Systems
Digital Telemedicine
“Hub and Spoke”
Siloam Doctor
Partnership and
Development
Program
11
Clinical Service Delivery
The Strategy & Business Model
• Primary clinics for corporate clients
• Public-Private-Partnership (PPP) model - Siloam Puskesmas (Public Health Clinic)
• RSUS –First general hospital using public sector model
– Additional demand from patients under governmental insurance and social schemes
– Gateway to Indonesia’s “Universal Healthcare Coverage” and Government Health Insurance Programs
• Specialist access for primary healthcare demand
• Public-Private-Partnership
• High standard and accessible medical care through focus on clinical governance and affordable price points
• Access to Centres of Excellence through hub and spoke system and Tele-medicine
3
2
1
Siloam’s
Integrated Healthcare Delivery Model
Primary
Secondary Tertiary
Research and Education • Integrated platform with UPHMS and other partnerships
• Medical students training at RSUS, SHLV, and SHKJ
• Integrated Centres of Excellence: Neuroscience, Cardiology, Cancer, Orthopedic, Urology, Fertility
• Hub and Spoke strategy and extensive coverage of specialised services via Digital Tele-Medicine • Pioneering investments in Indonesia’s healthcare sector
– Comprehensive Cancer Centre opened in 2011
– Indonesia’s first Gamma Knife installed in 2012
• Best in class and highly accessible healthcare services platform through:
– Rapid expansion of hospital network across Indonesia
– Attracting and retaining the best doctors with strong focus on
doctors’ welfare (SDPDP)
– Equip hospitals with State-of-the-Art facilities such as 128 slice CT Scan and 1.5T MRI
One-stop continuum of care at primary, secondary, tertiary and quaternary levels
12
UPHMS (UPH Medical Sciences)
The Strategy & Business Model
Centre of Excellence and Global Reputation
• Alignment –across teaching and service delivery
• Affiliate with agencies such as
ACORN/NUS/SGH/UOM
• Leading edge research
• Best practice Models
• Remote Access Diagnosis (RAD) and Remote Access Clinical Management (RACM)
• Telemedicine
• Centres of Clinical Excellence/ Accreditation
• Teaching Hospital paradigm
• Future workforce
• Systems based curriculum converged with PBL
• Best practice replication
• Clinical placement
• Foundation for Innovation
• Overseas training –
Singapore/Australia/USA/China
Bringing Together Clinical, Research & Education
·
Education Research
13
Mature and Developing Hospitals
Premier Private Hospital Group
79.45% Ownership
EAST KALIMANTAN
SILOAM HOSPITALS BALIKPAPAN
232 Bed Capacity 106 GP and Specialists 139 Nurses
Centre of Excellence : Orthopedics & Emergency
EAST SUMATERA
SILOAM HOSPITALS JAMBI
100 Bed Capacity 69 GP and Specialists 122 Nurses
Centre of Excellence : Emergency
83.0% Ownership
SOUTH JAKARTA
MRCCC SILOAM SEMANGGI
334 Bed Capacity 168 GP and Specialists 208 Nurses
Centre of Excellence : Cancer, Liver & Emergency
TANGERANG (West of Jakarta)
SILOAM HOSPITALS LIPPO VILLAGE
JCIA
308 Bed Capacity 232 GP and Specialists 442 Nurses
Centre of Excellence : Cardiology, Neuroscience, Orthopedics & Emergency
WEST JAKARTA
SILOAM HOSPITALS KEBON JERUK
285 Bed Capacity 208 GP and Specialists 337 Nurses
Centre of Excellence : Urology, Orthopaedic, Cardiology & Emergency
EAST JAVA
SILOAM HOSPITALS SURABAYA
162 Bed Capacity 145 GP and Specialists 255 Nurses
Centre of Excellence : Fertility Treatment, Cardiology & Emergency
BEKASI (East of Jakarta)
SILOAM HOSPITALS CIKARANG
119 Bed Capacity 91 GP and Specialists 164 Nurses
14
New Hospitals in 2012
Premier Private Hospital Group
TANGERANG (West of Jakarta)
SILOAM GENERAL HOSPITAL (RSUS)
640 Bed Capacity 52 GP and Specialists 252 Nurses
Centre of Excellence : Emergency
SOUTH SUMATERA
SILOAM HOSPITALS PALEMBANG
357 Bed Capacity 136 GP and Specialists 177 Nurses
Centre of Excellence : Gastroenterology & Emergency
NORTH SULAWESI
SILOAM HOSPITALS MANADO
230 Bed Capacity 97 GP and Specialists 174 Nurses
Centre of Excellence : Emergency
SOUTH SULAWESI
SILOAM HOSPITALS MAKASSAR
360 Bed Capacity 101 GP and Specialists 217 Nurses
Centre of Excellence : Cardiology, Endocrinology & Emergency
DEPOK (South of Jakarta)
SILOAM HOSPITALS CINERE
50 Bed Capacity 16 GP and Specialists 44 Nurses
Centre of Excellence: Cardiology
80.0% Ownership
15
New Hospitals in 2013
Premier Private Hospital Group
BALI
SILOAM HOSPITALS BALI
281 Bed Capacity 112 GP and Specialists 159 Nurses
Centre of Excellence : Treatment for tourists, Orthopedics, Cardiology & Emergency
BALI
BIMC KUTA
23 Bed Capacity 51 GP and Specialists 61 Nurses
Centre of Excellence : Treatment for tourists & Emergency
BALI
BIMC NUSA DUA
26 Bed Capacity 57 GP and Specialists 69 Nurses
Centre of Excellence : Cosmetic Surgery & Emergency
SOUTH JAKARTA
SILOAM HOSPITALS TB SIMATUPANG
269 Bed Capacity 118 GP and Specialists 122 Nurses
16
New Hospitals in 2014
Premier Private Hospital Group
WEST JAVA
SILOAM HOSPITALS PURWAKARTA
202 Bed Capacity 45 GP and Specialists 152 Nurses
Centre of Excellence : Emergency
EAST NUSA TENGGARA
SILOAM HOSPITALS KUPANG
405 Bed Capacity 38 GP and Specialists 114 Nurses
Centre of Excellence : Emergency
NORTH SUMATERA
SILOAM HOSPITALS MEDAN
350 Bed Capacity 66 GP and Specialists 86 Nurses
Centre of Excellence : Emergency & Trauma
SOUTH JAKARTA
SILOAM HOSPITALS ASRI
43 Bed Capacity 90 GP and Specialists 74 Nurses
Centre of Excellence : Urology
Financial & Operational
Performance
18
Siloam is the clear leader and fastest growing private hospital group in Indonesia serving all segments of the population
All Hospitals
Strong Financial Performance
737
890
2008 2009 2010 2011 2012 2013 2014 2015P
102
114
2008 2009 2010 2011 2012 2013 2014 2015P
( In IDR Bn )
( In IDR Bn )
FY Revenue
FY EBITDA
Note:
EBITDA refers to income before depreciation, provisions for post-employment benefits, allowance for impairment in value, corporate income taxes and other expense and/or income (consisting primarily of financing income and others-net).
19
Consolidated Results
–
Q1
Revenue & EBITDA Details
(i)
Notes:
(i) Represents rental expenses for the land and buldings, Siloam is leasing from FREIT, PT Lippo Karawaci Tbk and other parties. PT Lippo Karawaci started charging rent for the land and buildings of 9 hospitals on May 1,2013.
(ii) EBITDA refers to income before depreciation, provisions for post-employment benefits, allowance for impairment in value, corporate income taxes and other expense and/or income (consisting primarily of financing income and others-net).
Particulars
Q1 2014 Q1 2015
∆%
IDR Bn IDR Bn
GOR 751 976 30%
Service Cost 188 244 30%
NOR 563 732 30%
Material Cost 238 291 22%
Gross Margin 325 441 36%
Operating Expenses 201 260 29%
EBITDAR 124 181 46%
% to GOR 16.5% 18.6%
% to NOR 22.0% 24.7%
Rental (i) 14 19 39%
EBITDA(ii) 110 162 47%
% to GOR 14.7% 16.6%
% to NOR 19.6% 22.1%
NPAT 24 34 37%
% to GOR 3.3% 3.4%
20
Consolidated Results
Balance Sheet
(i)
In IDR Bn
FY2014
Q1 2015
∆%
Assets
Cash & Equivalent
280
232
-17%Property and Equipment
1,589
1,616
2%Total Assets
2,844
2,928
3%Liabilities & Equity
Liabilities
1,190
1,249
5%Shareholders' Equity
1,654
1,679
2%21
Q1 2014 Q1 2015
4 Mature 2 Developing MRCCC RSUS 4 New 2012 4 New 2013 4 New 2014
Q1 2014 Q1 2015
4 Mature 2 Developing MRCCC RSUS 4 New 2012 4 New 2013 4 New 2014
Revenue growth is driven by the ramp-up of new hospitals opened in 2011, 2012, 2013 and 2014. This trend will continue in the coming years.
EBITDA growth is driven by the contribution of new hospitals opened in 2011, 2012, 2013 and 2014. as these hospitals are ramping up their operations to the level of “Mature hospital category”.
Q1 2015 Results by Hospital Category
Revenue & EBITDA Contribution
Note:
22
Q1 2014 vs Q1 2015
16 Comp Hospitals - Actual
751
911
Q1 2014
Q1 2015
124
170
Q1 2014
Q1 2015
( In IDR Bn )
Revenue (+21%)
EBITDA (+37%)
Note:
EBITDA refers to income before depreciation, provisions for post-employment benefits, allowance for impairment in value, corporate income taxes and other expense and/or income (consisting primarily of financing income and others-net).
17%
19%
14% 18%
Blended OPD Visits (+17%)
( In IDR Bn )
353,936
415,099
Q1 2014
Q1 2015
26,036
31,360
Q1 2014
Q1 2015
23
Blended IPD Average Revenue Per Patient
Average Revenue Per Patient
16.8 19.1
4 Mature 2 Developing MRCCC RSUS 4 New 2012 4 New 2013 4 New 2014 2010 2011 2012 2013 2014 Q1 2015
Blended OPD Average Revenue Per Patient
0.6 0.7 0.6
4 Mature 2 Developing MRCCC RSUS 4 New 2012 4 New 2013 4 New 2014 2010 2011 2012 2013 2014 Q1 2015
(IDR Mn)
24
OPD Visits (+31%)
Operational Update Patient Visits & Admissions
168,562
38,383
13,560 14,772
37,747
18,333
-175,539
44,448 100,000 150,000 200,000
4 Mature 2 Developing MRCCC RSUS 4 New 2012 4 New 2013 4 New 2014 Q1 2014 Q1 2015
ED Visits (+29%)
21,056
4 Mature 2 Developing MRCCC RSUS 4 New 2012 4 New 2013 4 New 2014 Q1 2014 Q1 2015
(No of OPD Visits)
(No of ED Visits)
4%
152% 107%
5%
25
IPD Admissions (+42%)
Operational Update Patient Visits & Admissions
11,420
4 Mature 2 Developing MRCCC RSUS 4 New 2012 4 New 2013 4 New 2014 Q1 2014 Q1 2015
Average Length Of Stay (3.9)
(No of IPD Admissions)
- 1%
4 Mature 2 Developing MRCCC RSUS 4 New 2012 4 New 2013 4 New 2014 Q1 2014 Q1 2015
