2015 Indonesia Healthcare Services Provider of The Year Frost and Sullivan. FY 2015 Results

Transcription

1 2015 Indonesia Healthcare Services Provider of The Year Frost and Sullivan FY 2015 Results

2 2 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 SILO s management for future operations; generation of future receivables; and environmental compliance and remediation. Should one or more of these uncertainties or risks, among others, materialize, actual results may vary materially from those estimated, anticipated or projected. Specifically, but without limitation, capital costs could increase, projects could be delayed and anticipated improvements in production, capacity or performance might not be fully realized. Although SILO believes that the expectations of its management as reflected by such forward looking statements are reasonable based on information currently available to us, no assurances can be given that such expectations will prove to have been correct. You should not unduly rely on such statements. In any event, these statements speak only as of the date hereof, and SILO undertakes no obligation to update or revise any of them, whether as a result of new information, future events or otherwise.

3 Table of Contents Where We Are In Lippo Karawaci 04 Highly Experienced & Professional Management 05 The Vision 06 The Journey 07 The Operations 08 A Day At Siloam 09 The Strategy & Business Model Premier Private Hospital Group Hospitals Under Development Financial & Operational Performance 29 37

4 4 Where We Are In Lippo Karawaci LIPPO RELATED COMPANIES 26.91% PUBLIC 73.09% As of 31 Dec 2015 No. of Outstanding Shares : 23,077,689,619 Code : LPKR.JK ; LPKR IJ DEVELOPMENT REVENUE RECURRING REVENUE TOWNSHIPS LARGE SCALE INTEGRATED DVPT INDUSTRIAL AND COMMERCIAL PROPERTIES OFFICE PROJECTS HOSPITALS Siloam Hospitals 70.8% As of 31 Dec 2015 No. of Outstanding Shares : 337,300,000 Code : SILO COMMERCIAL Retail Malls Aryaduta Hotels ASSET MANAGEMENT REIT, Mall & Hotel Management Town Management Services, Leisure and Restaurants

5 5 Highly Experienced & Professional Management Board of Commissioners Ketut Budi Wijaya President Commissioner Theo L. Sambuaga Commissioner Lambock V. Nahattands Independent Commissioner Jenny Kuistono Commissioner Farid Harianto Independent Commissioner dr. Niel Nielson Independent Commissioner Ir. Jonathan L. Parapak Independent Commissioner dr. Gershu Paul Group Executive Chairman Board of Directors Romeo Lledo President Director, Independent Director dr. Andry Director dr. Anang Prayudi Director dr. Grace Frelita Director Kailas N. Raina Director Prof. George Mathew Director Richard Setiadi Director

6 6 The Vision International Quality Godly Compassion Reach By Beds 4,800 to 10,000 Patients per annum 2 million to 15 million Hospitals 20 to over 50 hospitals 14 to over 25 cities Scale Affordable and Accessible Healthcare to all socio economic segments

7 7 The Journey SHLV Indonesia s First Hospital to be Accredited and Re-accredited by JCI (2007, 2010 and 2014) RSUS SH Manado SH Makassar BIMC Nusa Dua Indonesia s First Hospital to be Accredited by ACHS Australia (2014) SH Bali SH Purwakarta SH Kupang Total operational hospital SH Lippo Village SH Lippo Cikarang SH MRCCC SH Palembang SH TB Simatupang SH Medan SH Kebon Jeruk SH Surabaya SH Jambi SH Balikpapan SH Cinere BIMC Kuta BIMC Nusa Dua Asri 2013 The Company successfully completed IPO : Learning Phase : Consolidation Phase 2011 to Date: Expansion Phase

8 8 The Operations Unrivalled network across Indonesia Sumatra Population : 50.6 mio Sulawesi Population : 17.4 mio Maluku Population : 2.6 mio JCI ACHSI Kalimantan Population : 13.8 mio Papua Population : 3.6 mio Java Population : mio Nusa Tenggara Population : 9.2 mio Bali Population : 3.9 mio Operational Hospitals (20) Completed Hospital Awaiting for Operational License (2)* Future Developments (44) Greater Jakarta Population : 28 mio Jakarta Population : 10 mio * Labuan Bajo soft opening on 25 January 2016

9 9 A Day At Siloam 400 Inpatient Admissions 103 Major Surgeries 2 Cardiac Surgeries 6 Neuro Surgeries 5,299 Outpatient Visits 11 Cardiac Procedures 570 Emergency Visits 22 Deliveries 146 Dialysis Procedures 11,241 Laboratory Tests

10 The Strategy & Business Model 4 Pillar Foundation 11 Clinical Service Delivery 12 UPH Medical Sciences (UPHMS) 13

11 11 4 Pillar Foundation 1 Emergency 2 Technology 3 Telemedicine 4 Doctors Excellence in Emergency Services State-of-the-Art Medical Equipment and Systems Digital Telemedicine Hub and Spoke Siloam Doctor Partnership and Development Program 4 Pillar Foundation 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

12 12 Clinical Service Delivery Siloam s Integrated Healthcare Delivery Model Access to Centres of Excellence through hub and spoke system and Telemedicine 3 Quaternary Integrated Centers of Excellence: Neuroscience, Cardiology, Cancer, Orthopedic, Urology, Fertility Hub and Spoke strategy and extensive coverage of specialized 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 High standard and accessible medical care through focus on clinical governance and affordable price points 2 Tertiary Secondary 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 Specialist access for primary healthcare demand Public-Private- Partnership 1 Primary 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 Research and Education Integrated platform with UPHMS and other partnerships Medical students training at RSUS, SHLV, and SHKJ One-stop continuum of care at primary, secondary, tertiary and quaternary levels

13 13 UPH Medical Sciences (UPHMS) Bringing Together Clinical, Research & Education Alignment across teaching and service delivery Affiliate with agencies such as ACORN/NUS/SGH/UOM Leading edge research Centre of Excellence and Global Reputation Clinical Best practice Models Remote Access Diagnosis (RAD) and Remote Access Clinical Management (RACM) Telemedicine Centres of Clinical Excellence/ Accreditation Teaching Hospital paradigm Research Education Future workforce Systems based curriculum converged with PBL Best practice replication Clinical placement Foundation for Innovation Overseas training Singapore/Australia/USA/China

14 Premier Private Hospital Group Mature Hospitals 15 Developing Hospitals 16 New Hospitals 17 Distinct Market Segment Hospitals 18 Completed Hospital In Yogyakarta 19 Siloam Clinic 20

15 15 Mature Hospitals SILOAM HOSPITALS LIPPO VILLAGE TANGERANG (West of Jakarta) 308 Bed Capacity JCIA 274 Operational Beds 233 GP and Specialists 435 Nurses Centre of Excellence : Cardiology, Neuroscience, Orthopedics & Emergency SILOAM HOSPITALS KEBON JERUK WEST JAKARTA 285 Bed Capacity 217 Operational Beds 217 GP and Specialists 343 Nurses Centre of Excellence : Urology, Orthopaedic, Cardiology & Emergency SILOAM HOSPITALS SURABAYA EAST JAVA 162 Bed Capacity 160 Operational Beds 141 GP and Specialists 250 Nurses Centre of Excellence : Fertility Treatment, Cardiology & Emergency SILOAM HOSPITALS JAMBI EAST SUMATERA 100 Bed Capacity 90 Operational Beds 70 GP and Specialists 129 Nurses Centre of Excellence : Emergency 83.0% Ownership 79.84% Ownership 79.61% Ownership SILOAM HOSPITALS CIKARANG BEKASI (East of Jakarta) 114 Bed Capacity 108 Operational Beds 95 GP and Specialists 166 Nurses Centre of Excellence : Occupational Health & Emergency SILOAM HOSPITALS BALIKPAPAN EAST KALIMANTAN 232 Bed Capacity 165 Operational Bed 105 GP and Specialists 155 Nurses Centre of Excellence : Orthopedics & Emergency MRCCC SILOAM SEMANGGI SOUTH JAKARTA 334 Bed Capacity 122 Operational Beds 168 GP and Specialists 229 Nurses Centre of Excellence : Cancer, Liver & Emergency

16 16 Developing Hospitals SILOAM HOSPITALS MANADO NORTH SULAWESI 238 Bed Capacity 177 Operational Beds 108 GP and Specialists 232 Nurses Centre of Excellence : Emergency SILOAM HOSPITALS MAKASSAR SOUTH SULAWESI 360 Bed Capacity 215 Operational Beds 109 GP and Specialists 211 Nurses Centre of Excellence : Cardiology, Endocrinology & Emergency SILOAM HOSPITALS PALEMBANG SOUTH SUMATERA 357 Bed Capacity 135 Operational Beds 136 GP and Specialists 184 Nurses Centre of Excellence : Gastroenterology & Emergency 70.00% Ownership SILOAM HOSPITALS BALI BALI 281 Bed Capacity 127 Operational Beds 120 GP and Specialists 182 Nurses Centre of Excellence : Treatment for tourists, Orthopedics, Cardiology & Emergency SOUTH JAKARTA SILOAM HOSPITALS TB SIMATUPANG 269 Bed Capacity 80 Operational Beds 138 GP and Specialists 132 Nurses Centre of Excellence : Cardiology, Oncology, Neuroscience & Emergency

17 17 New Hospitals SILOAM HOSPITALS PURWAKARTA WEST JAVA 202 Bed Capacity 176 Operational Beds 54 GP and Specialists 181 Nurses Centre of Excellence : Emergency SILOAM HOSPITALS KUPANG EAST NUSA TENGGARA 416 Bed Capacity 100 Operational Beds 50 GP and Specialists 148 Nurses Centre of Excellence : Emergency SILOAM HOSPITALS MEDAN NORTH SUMATERA 356 Bed Capacity 80 Operational Beds 86 GP and Specialists 86 Nurses Centre of Excellence : Emergency & Trauma There are currently 44 sites under various stages of development

18 18 Distinct Market Segment Hospitals SILOAM GENERAL HOSPITAL (RSUS) TANGERANG (West of Jakarta) 640 Bed Capacity 300 Operational Beds 52 GP and Specialists 256 Nurses Centre of Excellence : Emergency BIMC KUTA BALI 19 Bed Capacity 18 Operational Beds 51 GP and Specialists 63 Nurses Centre of Excellence : Treatment for tourists & Emergency SILOAM HOSPITALS CINERE DEPOK (South of Jakarta) 50 Bed Capacity 37 Operational Beds 26 GP and Specialists 37 Nurses Centre of Excellence: Cardiology BIMC NUSA DUA BALI 39 Bed Capacity 20 Operational Beds 57 GP and Specialists 66 Nurses Centre of Excellence : Cosmetic Surgery & Emergency 80.0% Ownership SILOAM HOSPITALS ASRI SOUTH JAKARTA 40 Bed Capacity 40 Operational Beds 104 GP and Specialists 84 Nurses Centre of Excellence : Urology

19 19 Completed Hospital In Yogyakarta (in April 2015 awaiting license to operate) FAÇADE MAIN LOBBY FRONT OFFICE OUT PATIENT DEPARTMENT

20 20 Siloam Clinic CYBER PARK KARAWACI FAÇADE RECEPTION GP s CONSULTATION ROOM MERTANADI BALI FAÇADE RECEPTION GP s CONSULTATION ROOM There are other 15 Siloam Clinics in operation

21 Hospitals Under Development For Completion In For Completion In Siloam Medika Under Development 27 Capacity Expansion of Existing Hospitals 28

22 22 For Completion In 2016 BANGKA BELITUNG 9M2015 Current BAU-BAU 9M2015 Current BOGOR 9M2015 Current

23 23 For Completion In 2016 JEMBER 9M2015 Current LABUAN BAJO* 9M2015 Current * Labuan Bajo soft opening on 25 January 2016 LUBUK LINGGAU 9M2015 Current

24 24 For Completion In 2016 SORONG 9M2015 Current

25 25 For Completion In 2017 AMBON 9M2015 Current BANDUNG 9M2015 Current CEMPAKA PUTIH 9M2015 Current

26 26 For Completion In 2017 PANAKUKANG MAKASSAR 9M2015 Current SEMARANG SRONDOL 9M2015 Current Current

27 27 Siloam Medika Under Development (completion in 2016) BANJARMASIN GAJAH MADA PLAZA KUNINGAN TOWER PLUIT VILLAGE BEKASI GRAND MALL GUNUNG SAHARI LIPPO MALL BATU SAMARINDA SURABAYA CITO BLU PLAZA BEKASI KALIMALANG NINE RESIDENCE SEMARANG

28 28 Capacity Expansion of Existing Hospitals SILOAM HOSPITALS LIPPO VILLAGE 5 th Floor OPD Extension Operational in December 2015 MRCCC SILOAM SEMANGGI 120 New Beds Completion Q M2015 Current 9M2015 Current 9M2015 Current 9M2015 Current 9M2015 Current 9M2015 Current

29 Financial & Operational Performance For The Nine Months Ended September 30, 2015 Strong Financial Performance 30 Revenue & EBITDA Details 31 Balance Sheets 32 Revenue & EBITDA Contribution 33 Average Revenue Per Patient 34 Patient Visits & Admissions Service Excellence Initiatives 37

30 30 Strong Financial Performance In IDR Bn FY Revenue +24% 4,144 In IDR Bn FY EBITDA +23% % 3, % % 14% +42% 1, % 2, % % % 1, % 12% Siloam is the clear leader and fastest growing private hospital group in Indonesia serving all segments of the population 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).

31 31 Revenue & EBITDA Details In IDR Bn FY % GOR 3,341 4,144 24% Service Cost 869 1,102 27% NOR 2,472 3,042 23% Material Cost 1,030 1,219 18% Gross Margin 1,443 1,823 26% Operating Expenses 916 1,152 26% EBITDAR % % to GOR 15.8% 16.2% % to NOR 21.3% 22.0% Rental (i) % EBITDA (ii) % % to GOR 13.9% 13.8% % to NOR 18.8% 18.9% NPAT 60 (iii) 62 3% % to GOR 1.8% 1.5% % to NOR 2.4% 2.0% Notes: (i) Represents rental expenses for the land and buildings, 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, (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). (iii) For 2014, this amount was restated from 60 IDR Bn to 69 IDR Bn in accompliance with the Indonesian GAAP, PSAK No.24 (revised 2013).

32 32 Balance Sheets Assets In IDR Bn FY2014 FY2015 % Cash & Equivalent % Other Current Assets % Property and Equipment 1,589 1,553-2% Other Assets % Total Assets 2,846 2,986 5% Liabilities & Equity Liabilities 1,186 1,246 5% Shareholders' Equity 1,660 1,740 5% Total Liabilities & Equity 2,846 2,986 5% D/E Ratio %

33 33 Revenue & EBITDA Contribution Revenue EBITDA 12% 12% 3% 11% 5% 8% 24% 14% 5% 4% 14% 5% 7% 22% 12% 22% 18% 12% 5% 3% 10% 4% 22% 12% 31% 12% 7% 4% 17% 6% 4% 20% 11% 24% Mature 250 Beds Mature Mature Beds Mature <120 Beds Developing 200 Beds Developing Beds Developing <120 Beds New 100 Beds New <100 Beds Distinct Market Segment Mature 250 Beds Mature Mature Beds Mature <120 Beds Developing 200 Beds Developing Beds Developing <120 Beds New 100 Beds New <100 Beds Distinct Market Segment Commentary Revenue growth is driven by the ramp-up of new hospitals opened in 2011, 2012, 2013 and This trend will continue in the coming years. EBITDA growth is driven by the contribution of new hospitals opened in 2011, 2012, 2013 and as these hospitals are ramping up their operations to the level of Mature hospital category. 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).

34 34 Average Revenue Per Patient IDR Mn IDR Mn Blended IPD Average Revenue Per Patient (IDR 17.7 Mn) Beds Beds Beds <120 Beds 200 Beds Beds <120 Beds 100 Beds <100 Beds Distinct Mature Market Developing New Segment Blended OPD Average Revenue Per Patient (IDR 0.8 Mn) Beds Beds Beds <120 Beds 200 Beds Beds <120 Beds 100 Beds <100 Beds Distinct Mature Developing New Market Segment

35 35 Patient Visits & Admissions No of OPD Visits 350, , , , , ,000 50,000 - No of ED Visits 50,000 40,000 30,000 20,000 10, % 248, ,169 3% 200, , , ,552 8% 167, ,205 OPD Visits (+25%) 57% 85,933 54, ,513 43% 174, % 113,710 44% 40,329 28,008 33,829-6, , Beds Beds Beds <120 Beds 200 Beds Beds <120 Beds 100 Beds <100 Beds Distinct Mature Market Developing New Segment % -8 22,753 22,841 21,175 21,088 37,605 11% 22% 45,899-8% 18,462 16,926 ED Visits (+21%) 14% 11,020 9,658 30,148 28% 38,567 33% 7,031 5,288 8, % 24,020-1,531 66% 227,576 30% 20,520 15, Beds Beds Beds <120 Beds 200 Beds Beds <120 Beds 100 Beds <100 Beds Distinct Mature Developing New Market Segment

36 36 Patient Visits & Admissions IPD Admissions (+27%) No of IPD Admissions 13% 30,000 25,117 37% 0% 150% 21% 25,000 22,156 21,796 20,420 21,192 17,663 20,000 17,681 17,464 0% 4% 15,958 49% 15,000 11,413 12,077 11,356 11,558 11,628 7,798 21% 8,176 10,000 5,000 - ALOS Average Length Of Stay (3.9) 2,863 3, Beds Beds Beds <120 Beds 200 Beds Beds <120 Beds 100 Beds <100 Beds Distinct Market Mature Developing New Segment , Beds Beds Beds <120 Beds 200 Beds Beds <120 Beds 100 Beds <100 Beds Distinct Mature Developing New Market Segment

37 37 Service Excellence Initiatives Customer Journey Mapping Service Recovery Delighting Customer Grooming Communication Skills GEMS Notes: (i) GST : Greet, Smile and Thank (ii) GEMS : Go the extra miles GST

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