BH Reports a 33% Increase in 3Q Net Profit on Higher Performance and Cost Management

Bumrungrad Hospital Public Company Limited (BH) has announced its consolidated financial statement through the Stock Exchange of Thailand as follows;

BH reported a net profit of 296 million baht in 3Q21, increased 33.61% from a net profit of 221 million baht in 3Q20. The increase was mainly due to an improvement in performance from the increase in revenues from Thai patients and the continued cost containment programs.

The company reported revenues from hospital operations of 2,900 million baht, a 0.5% increase year-over-year from 2,887 million baht in 3Q20. This was mostly due to a 3.7% increase in revenues from Thai patients, offset with a 3.7% decrease in revenues from non-Thai patients.

As a result, the revenue contribution from Thai patients was 57.9%, whereas revenue from non-Thai patients was 42.1% for 3Q21 compared with 56.1% and 43.9%, respectively, for 3Q20.

The company reported cost of hospital operations (including depreciation and amortization) of 1,814 million baht for 3Q21, resulting in a 2.4% decrease year-over-year from 1,859 million baht in 3Q20. The variance was mostly due to a 52 million baht decrease in physicians’ fees. This represented a favorable change when compared to the 0.5% increase in revenues from hospital operations, and contributed to a reduction in the percentage of cost to revenues from hospital operations to 62.5% in 3Q21 compared with 64.4% in 3Q20.

EBITDA increased by 22.5% year-over-year to 654 million baht in 3Q21 from 533 million baht in 3Q20, with an EBITDA margin of 21.9% in 3Q21 compared to 18.3% in 3Q20.