en company presentation q4 2014
PT Siloam International Hospitals Tbk
Indonesia’s Largest, Fastest Growing,
World Class Hospital Group
FY 2014
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.
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
Financial & Operational Performance
14 – 21
SILO Ownership Structure
01
4
LIPPO RELATED COMPANIES
PUBLIC
25.10 %
74.90 %
As of 31 Dec 2014
No. of Outstanding Shares : 23,077.689.619
Code : LPKR.JK ; LPKR IJ
DEVELOPMENT REVENUE
RECURRING REVENUE
RESIDENTIAL & URBAN DEVELOPMENT
HOSPITALS
• Lippo Village (Millenium Village) • Kemang Village
• Lippo Cikarang (Orange County) • The St. Moritz
• City of Tomorrow
• Tanjung Bunga
• San Diego Hills Memorial Park • Park View Apartments
• The Nine Residence
• Holland Village
• Lippo Thamrin Office
• St Moritz Panakukang
• Embarcadero
• Siloam Hospitals
COMMERCIAL
• Retail Malls
• Aryaduta Hotels
• Town
Management
Services,
Leisure and
Restaurants
ASSET
MANAGEMENT
• REIT, Mall & Hotel
Management
Highly Experienced & Professional Management
02
5
Board of Commissioners
Ketut Budi Wijaya
President
Commissioner
dr. Gershu Paul
Group Executive
Chairman
Theo L. Sambuaga
Commissioner
Lambock V.
Nahattands
Commissioner
Rahmawaty
Commissioner
Farid Harianto
Independent
Commissioner
dr. Grace Frelita
Director, Quality
Kailas N. Raina
Director, Chief
Financial Officer
Prof. Dr. H. Muladi, S.H
Independent
Commissioner
Board of Directors
Romeo Lledo
President
Director
dr. Andry
dr. Anang Prayudi
Director, Chief
Director, Network and
Enterprise &
Development
Operational Officer
Prof. George Mathew
Director, Talent and
Development
Ir. Jonathan L.
Parapak
Independent
Commissioner
The Vision
03
6
By 2017..
•
International
Quality
Reach
Godly
Compassion
Scale
Affordable and Accessible Healthcare
to all socio economic segments
•
•
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
The Journey
04
SHLV – Indonesia’s First Hospital to be
Accredited and Re-accredited by JCI
(2007, 2010 and 2013)
BIMC Nusa Dua – Indonesia’s First
Hospital to be Accredited by ACHS
Australia (2014)
RSUS
SH
Purwakarta
SH Manado
SH
Lippo Village
SH Lippo
Cikarang
1996
2002
SH MRCCC
SH Makassar
SH Bali
SH Kupang
SH
Palembang
SH
Simatupang
SH Medan
2011
2012
SH
Kebon Jeruk
SH Jambi
SH Cinere
SH
Surabaya
SH
Balikpapan
2013
BIMC Kuta
2014
2017
Asri
BIMC
Nusa Dua
2013 – The Company
successfully completed IPO
1996 – 2006: Learning Phase
2007 – 2010: Consolidation Phase
2011 to Date: Expansion Phase
The Operations
05
8
Unrivalled network across Indonesia
Sumatra Population :
50.6 mio
Maluku Population :
2.6 mio
Sulawesi Population :
17.4 mio
JCI
ACHSI
Kalimantan Population :
13.8 mio
Papua Population :
3.6 mio
Java Population :
136.6 mio
Nusa Tenggara Population :
9.2 mio
Bali Population :
3.9 mio
Operational Hospitals (20)
Future Developments (46)
Greater Jakarta Population :
28 mio
Jakarta Population :
10 mio
A Day At Siloam
316
Inpatient
Admissions
4,182
Outpatient
Visits
469
Emergency
Visits
100
Dialysis
Procedures
8,728
Laboratory
Tests
06
9
57
Major
Surgeries
2
Cardiac
Surgeries
5
Neuro
Surgeries
5
Cardiac
Procedures
19
Deliveries
The Strategy & Business Model
07
10
4 Pillar Foundation
1
Emergency
2
Technology
Excellence in
Emergency Services
500-911
State-of-the-Art
Medical Equipment
and Systems
3
Telemedicine
4
Doctors
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…
The Strategy & Business Model
08
11
Clinical Service Delivery
Siloam’s
Integrated Healthcare
Delivery Model
•
Access to
Centres of
Excellence
through hub and
spoke system
and Telemedicine
•
•
3
•
Quaternary
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
Tertiary
•
•
•
High standard and
accessible medical
care through focus
on clinical
governance and
affordable price
points
Specialist access for
primary healthcare
demand
Public-PrivatePartnership
2
• 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
Secondary
1
Primary
Research and Education
• 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
• 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
The Strategy & Business Model
09
12
UPHMS (UPH Medical Sciences)
Bringing Together Clinical, Research & Education
Centre of Excellence and
Global Reputation
•
•
Best practice Models
Remote Access Diagnosis (RAD)
and Remote Access Clinical
Management (RACM)
Telemedicine
Centres of Clinical Excellence/
Accreditation
Teaching Hospital paradigm
•
•
•
•
•
Alignment – across
teaching and service
delivery
Affiliate with agencies
such as
ACORN/NUS/SGH/UOM
Leading edge research
Clinical
•
·
Research
Education
•
•
•
•
•
•
Future workforce
Systems based curriculum
converged with PBL
Best practice replication
Clinical placement
Foundation for Innovation
Overseas training –
Singapore/Australia/USA/China
Premier Private Hospital Group
10
13
Mature and Developing Hospitals
SILOAM HOSPITALS LIPPO VILLAGE
MRCCC SILOAM SEMANGGI
TANGERANG (West of Jakarta)
308 Bed Capacity
230 GP and Specialists
442 Nurses
Centre of Excellence : Cardiology,
Neuroscience, Orthopedics & Emergency
SOUTH JAKARTA
JCIA
334 Bed Capacity
176 GP and Specialists
212 Nurses
Centre of Excellence : Cancer, Liver &
Emergency
SILOAM HOSPITALS KEBON JERUK
WEST JAKARTA
283 Bed Capacity
203 GP and Specialists
333 Nurses
Centre of Excellence : Urology,
Orthopaedic, Cardiology & Emergency
SILOAM HOSPITALS JAMBI
SILOAM HOSPITALS SURABAYA
EAST SUMATERA
EAST JAVA
100 Bed Capacity
69 GP and Specialists
123 Nurses
Centre of Excellence : Emergency
162 Bed Capacity
145 GP and Specialists
256 Nurses
Centre of Excellence : Fertility Treatment,
Cardiology & Emergency
83.0% Ownership
SILOAM HOSPITALS CIKARANG
SILOAM HOSPITALS BALIKPAPAN
BEKASI (East of Jakarta)
EAST KALIMANTAN
109 Bed Capacity
91 GP and Specialists
156 Nurses
Centre of Excellence : Occupational Health &
Emergency
232 Bed Capacity
103 GP and Specialists
141 Nurses
Centre of Excellence : Orthopedics & Emergency
79.45% Ownership
Premier Private Hospital Group
11
14
New Hospitals in 2012
SILOAM GENERAL HOSPITAL (RSUS)
SILOAM HOSPITALS CINERE
TANGERANG (West of Jakarta)
DEPOK (South of Jakarta)
640 Bed Capacity
25 GP and Specialists
244 Nurses
Centre of Excellence : Emergency
40 Bed Capacity
16 GP and Specialists
57 Nurses
Centre of Excellence: Cardiology
SILOAM HOSPITALS MANADO
NORTH SULAWESI
230 Bed Capacity
97 GP and Specialists
143 Nurses
Centre of Excellence : Emergency
80.0% Ownership
SILOAM HOSPITALS MAKASSAR
SILOAM HOSPITALS PALEMBANG
SOUTH SULAWESI
SOUTH SUMATERA
360 Bed Capacity
101 GP and Specialists
220 Nurses
Centre of Excellence : Cardiology,
Endocrinology &
Emergency
357 Bed Capacity
128 GP and Specialists
184 Nurses
Centre of Excellence : Gastroenterology &
Emergency
70.39% Ownership
Premier Private Hospital Group
12
15
New Hospitals in 2013
SILOAM HOSPITALS BALI
BIMC KUTA
BALI
BALI
21 Bed Capacity
51 GP and Specialists
61 Nurses
Centre of Excellence : Treatment for tourists &
Emergency
283 Bed Capacity
109 GP and Specialists
149 Nurses
Centre of Excellence : Treatment for tourists,
Orthopedics, Cardiology &
Emergency
SILOAM HOSPITALS TB SIMATUPANG
BIMC NUSA DUA
SOUTH JAKARTA
BALI
269 Bed Capacity
118 GP and Specialists
123 Nurses
Centre of Excellence : Cardiology, Oncology,
Neuroscience & Emergency
20 Bed Capacity
57 GP and Specialists
69 Nurses
Centre of Excellence : Cosmetic Surgery &
Emergency
Premier Private Hospital Group
13
16
New Hospitals in 2014
SILOAM HOSPITALS PURWAKARTA
SILOAM HOSPITALS KUPANG
WEST JAVA
210 Bed Capacity
39 GP and Specialists
148 Nurses
Centre of Excellence : Emergency
EAST NUSA TENGGARA
405 Bed Capacity
36 GP and Specialists
29 Nurses
Centre of Excellence : Emergency
SILOAM HOSPITALS ASRI
SILOAM HOSPITALS MEDAN
SOUTH JAKARTA
NORTH SUMATERA
40 Bed Capacity
90 GP and Specialists
92 Nurses
Centre of Excellence : Urology
388 Bed Capacity
40 GP and Specialists
62 Nurses
Centre of Excellence : Emergency & Trauma
There are currently 46 sites under
various stages of development
Operational & Financial
Performance
For The Year Ended December 31, 2014
Strong Financial Performance
15
18
Revenue
EBITDA
( In Rp Bn )
( In Rp Bn )
868
4,902
+86%
+47%
18%
3,341
+33%
+40%
466
2,504
+56%
14%
+42%
1,788
+35%
+22%
+16%
+21%
737
890
+43%
1,259
1,030
+12%
102
14%
2008 2009 2010 2011 2012 2013 2014 2015P
221
+10%
+23%
114
13%
140
155
14%
12%
298
12%
12%
2008 2009 2010 2011 2012 2013 2014 2015P
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).
Revenue & EBITDA Contribution
16
19
FY2014 Results by Hospital Category
Revenue
EBITDA
5%
7%
6%
13%
13%
18%
13%
13%
8%
8%
8%
7%
11%
8%
83%
60%
52%
49%
FY2013
4 Mature
4 New 2012
FY2014
2 Developing
4 New 2013
MRCCC
4 New 2014
FY2013
RSUS
4 Mature
4 New 2012
FY2014
2 Developing
4 New 2013
MRCCC
4 New 2014
RSUS
Commentary
Revenue growth is driven by the ramp-up of new hospitals opened in 2011, 2012 and 2013. This trend will continue in the coming
years.
EBITDA growth is driven by the contribution of new hospitals opened in 2011, 2012 and 2013 as these hospitals are ramping up
their operations to the level of “Mature hospital category”.
It should also be noted of the following which have direct impact to EBITDA:
- On May 1, 2013, SIH started to incur rental expenses on the land and building being sub leased from the parent company. The
total rental in FY2014 amounted to Rp 41 billion and FY2013 was Rp 11 billion.
- SHLC rental expense for its sale and leaseback agreement amounted to Rp 19 billion in FY2014 and Rp 25 billion in FY2013.
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).
Revenue & EBITDA Analyses
17
20
FY2014 Consolidated Results
FY2013
FY2014
IDR Bn
IDR Bn
2,504
3,341
33%
657
869
32%
1,847
2,472
34%
Material Cost
810
1,030
27%
Gross Margin
1,037
1,443
39%
Operating Expenses
703
916
30%
EBITDAR
334
526
58%
% to GOR
13.3%
15.8%
% to NOR
18.1%
21.3%
Rental (i)
36
61
71%
EBITDA (ii)
298
466
56%
% to GOR
11.9%
13.9%
% to NOR
16.2%
18.8%
50
60
2.0%
2.7%
1.8%
2.4%
Particulars
GOR
Service Cost
NOR
NPAT
% to GOR
% to NOR
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).
∆%
19%
(i)
Balance Sheet
18
21
FY2014 Consolidated Results
(i)
FY2013
FY2014
∆%
515
280
-46%
Property and Equipment
1,402
1,589
13%
Total Assets
2,601
2,844
9%
962
1,190
24%
Shareholders' Equity
1,639
1,654
1%
D/E Ratio
0.37
0.42
In Rp Bn
Assets
Cash & Equivalent
Liabilities & Equity
Liabilities
Average Revenue Per Patient
19
22
FY2014
Blended IPD Average Revenue Per Patient
(Rp Mn)
50.0
40.9
39.4
39.0
36.2
40.0
28.9
30.0
20.0
16.8
19.1 19.1 19.8
21.5
9.3
10.0
15.5
11.1 11.6
15.6
20.2
15.1
7.7
5.0 7.1 7.0
5.1
4 Mature
2 Developing
MRCCC
2010
2011
RSUS
2012
2013
4 New 2012
2014
4 New 2013
4 New 2014
Blended OPD Average Revenue Per Patient
(Rp Mn)
2.5
2.0
2.0
2.1 2.1 2.1
1.3
1.5
1.0
0.8 0.8
0.6 0.7 0.7
1.0
0.6
0.5 0.6
0.6 0.5 0.5 0.6
0.5
0.6
0.3
0.2 0.2
4 Mature
2 Developing
MRCCC
2010
2011
RSUS
2012
2013
4 New 2012
2014
4 New 2013
4 New 2014
Operational Update Patient Visits & Admissions
20
23
FY2014
OPD Visits (+24%)
(No of OPD Visits)
800,000
1%
662,916 666,827
600,000
400,000
11%
41%
200,000
176%
15%
137,628 152,957
50,681 58,489
30,139
83,302
100,941
213%
142,349
101,089
32,259
-
49,429
4 Mature
2 Developing
MRCCC
FY2013
RSUS
FY2014
4 New 2012
4 New 2013
4 New 2014
ED Visits (+30%)
(No of ED Visits)
100,000
80,000
3%
74,615 76,696
60,000
29%
40,000
9%
16,534 18,094
20,000
78%
64%
4,192
6,871
4,409
23,655
30,471
141%
19,968
11,150
8,301
7,855
-
4 Mature
2 Developing
MRCCC
FY2013
RSUS
FY2014
4 New 2012
4 New 2013
4 New 2014
Operational Update Patient Visits & Admissions
21
24
FY2014
IPD Admissions (+34%)
(No of IPD Admissions)
60,000
50,000
- 0%
44,442 44,427
40,000
32%
30,000
66%
18%
20,000
18%
10,806 12,735
10,000
4,803
12,345
5,646
20,859
264%
15,744
9,802
7,422
2,692
9,253
-
4 Mature
2 Developing
MRCCC
FY2013
RSUS
FY2014
4 New 2012
4 New 2013
4 New 2014
Average Length Of Stay (ALOS)
(ALOS)
6.0
5.0
5.6
5.2
4.2
4.0
4.7
4.5
4.2
3.4
4.6
4.2
3.50
3.2
3.6
3.0
3.0
2.0
1.0
4 Mature
2 Developing
MRCCC
FY2013
RSUS
FY2014
4 New 2012
4 New 2013
4 New 2014
Thank You
Indonesia’s Largest, Fastest Growing,
World Class Hospital Group
FY 2014
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.
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
Financial & Operational Performance
14 – 21
SILO Ownership Structure
01
4
LIPPO RELATED COMPANIES
PUBLIC
25.10 %
74.90 %
As of 31 Dec 2014
No. of Outstanding Shares : 23,077.689.619
Code : LPKR.JK ; LPKR IJ
DEVELOPMENT REVENUE
RECURRING REVENUE
RESIDENTIAL & URBAN DEVELOPMENT
HOSPITALS
• Lippo Village (Millenium Village) • Kemang Village
• Lippo Cikarang (Orange County) • The St. Moritz
• City of Tomorrow
• Tanjung Bunga
• San Diego Hills Memorial Park • Park View Apartments
• The Nine Residence
• Holland Village
• Lippo Thamrin Office
• St Moritz Panakukang
• Embarcadero
• Siloam Hospitals
COMMERCIAL
• Retail Malls
• Aryaduta Hotels
• Town
Management
Services,
Leisure and
Restaurants
ASSET
MANAGEMENT
• REIT, Mall & Hotel
Management
Highly Experienced & Professional Management
02
5
Board of Commissioners
Ketut Budi Wijaya
President
Commissioner
dr. Gershu Paul
Group Executive
Chairman
Theo L. Sambuaga
Commissioner
Lambock V.
Nahattands
Commissioner
Rahmawaty
Commissioner
Farid Harianto
Independent
Commissioner
dr. Grace Frelita
Director, Quality
Kailas N. Raina
Director, Chief
Financial Officer
Prof. Dr. H. Muladi, S.H
Independent
Commissioner
Board of Directors
Romeo Lledo
President
Director
dr. Andry
dr. Anang Prayudi
Director, Chief
Director, Network and
Enterprise &
Development
Operational Officer
Prof. George Mathew
Director, Talent and
Development
Ir. Jonathan L.
Parapak
Independent
Commissioner
The Vision
03
6
By 2017..
•
International
Quality
Reach
Godly
Compassion
Scale
Affordable and Accessible Healthcare
to all socio economic segments
•
•
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
The Journey
04
SHLV – Indonesia’s First Hospital to be
Accredited and Re-accredited by JCI
(2007, 2010 and 2013)
BIMC Nusa Dua – Indonesia’s First
Hospital to be Accredited by ACHS
Australia (2014)
RSUS
SH
Purwakarta
SH Manado
SH
Lippo Village
SH Lippo
Cikarang
1996
2002
SH MRCCC
SH Makassar
SH Bali
SH Kupang
SH
Palembang
SH
Simatupang
SH Medan
2011
2012
SH
Kebon Jeruk
SH Jambi
SH Cinere
SH
Surabaya
SH
Balikpapan
2013
BIMC Kuta
2014
2017
Asri
BIMC
Nusa Dua
2013 – The Company
successfully completed IPO
1996 – 2006: Learning Phase
2007 – 2010: Consolidation Phase
2011 to Date: Expansion Phase
The Operations
05
8
Unrivalled network across Indonesia
Sumatra Population :
50.6 mio
Maluku Population :
2.6 mio
Sulawesi Population :
17.4 mio
JCI
ACHSI
Kalimantan Population :
13.8 mio
Papua Population :
3.6 mio
Java Population :
136.6 mio
Nusa Tenggara Population :
9.2 mio
Bali Population :
3.9 mio
Operational Hospitals (20)
Future Developments (46)
Greater Jakarta Population :
28 mio
Jakarta Population :
10 mio
A Day At Siloam
316
Inpatient
Admissions
4,182
Outpatient
Visits
469
Emergency
Visits
100
Dialysis
Procedures
8,728
Laboratory
Tests
06
9
57
Major
Surgeries
2
Cardiac
Surgeries
5
Neuro
Surgeries
5
Cardiac
Procedures
19
Deliveries
The Strategy & Business Model
07
10
4 Pillar Foundation
1
Emergency
2
Technology
Excellence in
Emergency Services
500-911
State-of-the-Art
Medical Equipment
and Systems
3
Telemedicine
4
Doctors
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…
The Strategy & Business Model
08
11
Clinical Service Delivery
Siloam’s
Integrated Healthcare
Delivery Model
•
Access to
Centres of
Excellence
through hub and
spoke system
and Telemedicine
•
•
3
•
Quaternary
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
Tertiary
•
•
•
High standard and
accessible medical
care through focus
on clinical
governance and
affordable price
points
Specialist access for
primary healthcare
demand
Public-PrivatePartnership
2
• 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
Secondary
1
Primary
Research and Education
• 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
• 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
The Strategy & Business Model
09
12
UPHMS (UPH Medical Sciences)
Bringing Together Clinical, Research & Education
Centre of Excellence and
Global Reputation
•
•
Best practice Models
Remote Access Diagnosis (RAD)
and Remote Access Clinical
Management (RACM)
Telemedicine
Centres of Clinical Excellence/
Accreditation
Teaching Hospital paradigm
•
•
•
•
•
Alignment – across
teaching and service
delivery
Affiliate with agencies
such as
ACORN/NUS/SGH/UOM
Leading edge research
Clinical
•
·
Research
Education
•
•
•
•
•
•
Future workforce
Systems based curriculum
converged with PBL
Best practice replication
Clinical placement
Foundation for Innovation
Overseas training –
Singapore/Australia/USA/China
Premier Private Hospital Group
10
13
Mature and Developing Hospitals
SILOAM HOSPITALS LIPPO VILLAGE
MRCCC SILOAM SEMANGGI
TANGERANG (West of Jakarta)
308 Bed Capacity
230 GP and Specialists
442 Nurses
Centre of Excellence : Cardiology,
Neuroscience, Orthopedics & Emergency
SOUTH JAKARTA
JCIA
334 Bed Capacity
176 GP and Specialists
212 Nurses
Centre of Excellence : Cancer, Liver &
Emergency
SILOAM HOSPITALS KEBON JERUK
WEST JAKARTA
283 Bed Capacity
203 GP and Specialists
333 Nurses
Centre of Excellence : Urology,
Orthopaedic, Cardiology & Emergency
SILOAM HOSPITALS JAMBI
SILOAM HOSPITALS SURABAYA
EAST SUMATERA
EAST JAVA
100 Bed Capacity
69 GP and Specialists
123 Nurses
Centre of Excellence : Emergency
162 Bed Capacity
145 GP and Specialists
256 Nurses
Centre of Excellence : Fertility Treatment,
Cardiology & Emergency
83.0% Ownership
SILOAM HOSPITALS CIKARANG
SILOAM HOSPITALS BALIKPAPAN
BEKASI (East of Jakarta)
EAST KALIMANTAN
109 Bed Capacity
91 GP and Specialists
156 Nurses
Centre of Excellence : Occupational Health &
Emergency
232 Bed Capacity
103 GP and Specialists
141 Nurses
Centre of Excellence : Orthopedics & Emergency
79.45% Ownership
Premier Private Hospital Group
11
14
New Hospitals in 2012
SILOAM GENERAL HOSPITAL (RSUS)
SILOAM HOSPITALS CINERE
TANGERANG (West of Jakarta)
DEPOK (South of Jakarta)
640 Bed Capacity
25 GP and Specialists
244 Nurses
Centre of Excellence : Emergency
40 Bed Capacity
16 GP and Specialists
57 Nurses
Centre of Excellence: Cardiology
SILOAM HOSPITALS MANADO
NORTH SULAWESI
230 Bed Capacity
97 GP and Specialists
143 Nurses
Centre of Excellence : Emergency
80.0% Ownership
SILOAM HOSPITALS MAKASSAR
SILOAM HOSPITALS PALEMBANG
SOUTH SULAWESI
SOUTH SUMATERA
360 Bed Capacity
101 GP and Specialists
220 Nurses
Centre of Excellence : Cardiology,
Endocrinology &
Emergency
357 Bed Capacity
128 GP and Specialists
184 Nurses
Centre of Excellence : Gastroenterology &
Emergency
70.39% Ownership
Premier Private Hospital Group
12
15
New Hospitals in 2013
SILOAM HOSPITALS BALI
BIMC KUTA
BALI
BALI
21 Bed Capacity
51 GP and Specialists
61 Nurses
Centre of Excellence : Treatment for tourists &
Emergency
283 Bed Capacity
109 GP and Specialists
149 Nurses
Centre of Excellence : Treatment for tourists,
Orthopedics, Cardiology &
Emergency
SILOAM HOSPITALS TB SIMATUPANG
BIMC NUSA DUA
SOUTH JAKARTA
BALI
269 Bed Capacity
118 GP and Specialists
123 Nurses
Centre of Excellence : Cardiology, Oncology,
Neuroscience & Emergency
20 Bed Capacity
57 GP and Specialists
69 Nurses
Centre of Excellence : Cosmetic Surgery &
Emergency
Premier Private Hospital Group
13
16
New Hospitals in 2014
SILOAM HOSPITALS PURWAKARTA
SILOAM HOSPITALS KUPANG
WEST JAVA
210 Bed Capacity
39 GP and Specialists
148 Nurses
Centre of Excellence : Emergency
EAST NUSA TENGGARA
405 Bed Capacity
36 GP and Specialists
29 Nurses
Centre of Excellence : Emergency
SILOAM HOSPITALS ASRI
SILOAM HOSPITALS MEDAN
SOUTH JAKARTA
NORTH SUMATERA
40 Bed Capacity
90 GP and Specialists
92 Nurses
Centre of Excellence : Urology
388 Bed Capacity
40 GP and Specialists
62 Nurses
Centre of Excellence : Emergency & Trauma
There are currently 46 sites under
various stages of development
Operational & Financial
Performance
For The Year Ended December 31, 2014
Strong Financial Performance
15
18
Revenue
EBITDA
( In Rp Bn )
( In Rp Bn )
868
4,902
+86%
+47%
18%
3,341
+33%
+40%
466
2,504
+56%
14%
+42%
1,788
+35%
+22%
+16%
+21%
737
890
+43%
1,259
1,030
+12%
102
14%
2008 2009 2010 2011 2012 2013 2014 2015P
221
+10%
+23%
114
13%
140
155
14%
12%
298
12%
12%
2008 2009 2010 2011 2012 2013 2014 2015P
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).
Revenue & EBITDA Contribution
16
19
FY2014 Results by Hospital Category
Revenue
EBITDA
5%
7%
6%
13%
13%
18%
13%
13%
8%
8%
8%
7%
11%
8%
83%
60%
52%
49%
FY2013
4 Mature
4 New 2012
FY2014
2 Developing
4 New 2013
MRCCC
4 New 2014
FY2013
RSUS
4 Mature
4 New 2012
FY2014
2 Developing
4 New 2013
MRCCC
4 New 2014
RSUS
Commentary
Revenue growth is driven by the ramp-up of new hospitals opened in 2011, 2012 and 2013. This trend will continue in the coming
years.
EBITDA growth is driven by the contribution of new hospitals opened in 2011, 2012 and 2013 as these hospitals are ramping up
their operations to the level of “Mature hospital category”.
It should also be noted of the following which have direct impact to EBITDA:
- On May 1, 2013, SIH started to incur rental expenses on the land and building being sub leased from the parent company. The
total rental in FY2014 amounted to Rp 41 billion and FY2013 was Rp 11 billion.
- SHLC rental expense for its sale and leaseback agreement amounted to Rp 19 billion in FY2014 and Rp 25 billion in FY2013.
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).
Revenue & EBITDA Analyses
17
20
FY2014 Consolidated Results
FY2013
FY2014
IDR Bn
IDR Bn
2,504
3,341
33%
657
869
32%
1,847
2,472
34%
Material Cost
810
1,030
27%
Gross Margin
1,037
1,443
39%
Operating Expenses
703
916
30%
EBITDAR
334
526
58%
% to GOR
13.3%
15.8%
% to NOR
18.1%
21.3%
Rental (i)
36
61
71%
EBITDA (ii)
298
466
56%
% to GOR
11.9%
13.9%
% to NOR
16.2%
18.8%
50
60
2.0%
2.7%
1.8%
2.4%
Particulars
GOR
Service Cost
NOR
NPAT
% to GOR
% to NOR
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).
∆%
19%
(i)
Balance Sheet
18
21
FY2014 Consolidated Results
(i)
FY2013
FY2014
∆%
515
280
-46%
Property and Equipment
1,402
1,589
13%
Total Assets
2,601
2,844
9%
962
1,190
24%
Shareholders' Equity
1,639
1,654
1%
D/E Ratio
0.37
0.42
In Rp Bn
Assets
Cash & Equivalent
Liabilities & Equity
Liabilities
Average Revenue Per Patient
19
22
FY2014
Blended IPD Average Revenue Per Patient
(Rp Mn)
50.0
40.9
39.4
39.0
36.2
40.0
28.9
30.0
20.0
16.8
19.1 19.1 19.8
21.5
9.3
10.0
15.5
11.1 11.6
15.6
20.2
15.1
7.7
5.0 7.1 7.0
5.1
4 Mature
2 Developing
MRCCC
2010
2011
RSUS
2012
2013
4 New 2012
2014
4 New 2013
4 New 2014
Blended OPD Average Revenue Per Patient
(Rp Mn)
2.5
2.0
2.0
2.1 2.1 2.1
1.3
1.5
1.0
0.8 0.8
0.6 0.7 0.7
1.0
0.6
0.5 0.6
0.6 0.5 0.5 0.6
0.5
0.6
0.3
0.2 0.2
4 Mature
2 Developing
MRCCC
2010
2011
RSUS
2012
2013
4 New 2012
2014
4 New 2013
4 New 2014
Operational Update Patient Visits & Admissions
20
23
FY2014
OPD Visits (+24%)
(No of OPD Visits)
800,000
1%
662,916 666,827
600,000
400,000
11%
41%
200,000
176%
15%
137,628 152,957
50,681 58,489
30,139
83,302
100,941
213%
142,349
101,089
32,259
-
49,429
4 Mature
2 Developing
MRCCC
FY2013
RSUS
FY2014
4 New 2012
4 New 2013
4 New 2014
ED Visits (+30%)
(No of ED Visits)
100,000
80,000
3%
74,615 76,696
60,000
29%
40,000
9%
16,534 18,094
20,000
78%
64%
4,192
6,871
4,409
23,655
30,471
141%
19,968
11,150
8,301
7,855
-
4 Mature
2 Developing
MRCCC
FY2013
RSUS
FY2014
4 New 2012
4 New 2013
4 New 2014
Operational Update Patient Visits & Admissions
21
24
FY2014
IPD Admissions (+34%)
(No of IPD Admissions)
60,000
50,000
- 0%
44,442 44,427
40,000
32%
30,000
66%
18%
20,000
18%
10,806 12,735
10,000
4,803
12,345
5,646
20,859
264%
15,744
9,802
7,422
2,692
9,253
-
4 Mature
2 Developing
MRCCC
FY2013
RSUS
FY2014
4 New 2012
4 New 2013
4 New 2014
Average Length Of Stay (ALOS)
(ALOS)
6.0
5.0
5.6
5.2
4.2
4.0
4.7
4.5
4.2
3.4
4.6
4.2
3.50
3.2
3.6
3.0
3.0
2.0
1.0
4 Mature
2 Developing
MRCCC
FY2013
RSUS
FY2014
4 New 2012
4 New 2013
4 New 2014
Thank You