en company presentation q1 2015

PT Siloam International Hospitals Tbk
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
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 – 22

SILO Ownership Structure

01
4

LIPPO RELATED COMPANIES

PUBLIC

25.40 %


74.60 %

As of 31 Mar 2015
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 2014)

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
1-500-911

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
232 GP and Specialists
442 Nurses
Centre of Excellence : Cardiology,
Neuroscience, Orthopedics & Emergency

SOUTH JAKARTA

JCIA

334 Bed Capacity
168 GP and Specialists
208 Nurses
Centre of Excellence : Cancer, Liver &
Emergency

SILOAM HOSPITALS KEBON JERUK
WEST JAKARTA
285 Bed Capacity
208 GP and Specialists
337 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
122 Nurses
Centre of Excellence : Emergency

162 Bed Capacity
145 GP and Specialists
255 Nurses
Centre of Excellence : Fertility Treatment,
Cardiology & Emergency

83.0% Ownership

SILOAM HOSPITALS CIKARANG

SILOAM HOSPITALS BALIKPAPAN

BEKASI (East of Jakarta)

EAST KALIMANTAN

119 Bed Capacity
91 GP and Specialists
164 Nurses
Centre of Excellence : Occupational Health &
Emergency

232 Bed Capacity
106 GP and Specialists
139 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
52 GP and Specialists
252 Nurses
Centre of Excellence : Emergency

50 Bed Capacity
16 GP and Specialists
44 Nurses
Centre of Excellence: Cardiology

SILOAM HOSPITALS MANADO
NORTH SULAWESI
230 Bed Capacity
97 GP and Specialists
174 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
217 Nurses
Centre of Excellence : Cardiology,
Endocrinology &
Emergency

357 Bed Capacity
136 GP and Specialists
177 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
23 Bed Capacity
51 GP and Specialists
61 Nurses
Centre of Excellence : Treatment for tourists &
Emergency

281 Bed Capacity
112 GP and Specialists
159 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
122 Nurses
Centre of Excellence : Cardiology, Oncology,
Neuroscience & Emergency

26 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
202 Bed Capacity
45 GP and Specialists
152 Nurses
Centre of Excellence : Emergency

EAST NUSA TENGGARA
405 Bed Capacity
38 GP and Specialists
114 Nurses
Centre of Excellence : Emergency

SILOAM HOSPITALS ASRI

SILOAM HOSPITALS MEDAN

SOUTH JAKARTA

NORTH SUMATERA

43 Bed Capacity
90 GP and Specialists
74 Nurses
Centre of Excellence : Urology

350 Bed Capacity
66 GP and Specialists
86 Nurses
Centre of Excellence : Emergency & Trauma

There are currently 46 sites under
various stages of development

Financial & Operational
Performance
For The Three Months Ended March 31, 2015

Strong Financial Performance

15
18

All Hospitals
FY Revenue

FY EBITDA
( In IDR Bn )

( In IDR 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 Details

16
19

Consolidated Results – Q1
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%

24

34

3.3%
4.3%

3.4%
4.6%

Particulars

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).

∆%

37%

(i)

Balance Sheet

17
20

Consolidated Results
(i)

FY2014

Q1 2015

∆%

280

232

-17%

Property and Equipment

1,589

1,616

2%

Total Assets

2,844

2,928

3%

Liabilities

1,190

1,249

5%

Shareholders' Equity

1,654

1,679

2%

D/E Ratio

0.72

0.74

3%

In IDR Bn
Assets
Cash & Equivalent

Liabilities & Equity

Revenue & EBITDA Contribution

18
21

Q1 2015 Results by Hospital Category
Revenue

EBITDA
5%

6%

13%

18%

14%

20%

13%

11%

15%
11%
8%

10%

8%

12%

8%

10%

6%

7%

55%

52%

Q1 2014

4 Mature
4 New 2012

45%

44%

Q1 2015

2 Developing
4 New 2013

MRCCC
4 New 2014

Q1 2014

RSUS

4 Mature
4 New 2012

Q1 2015

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, 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”.

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).

16 Comp Hospitals - Actual

19
22

Q1 2014 vs Q1 2015
Revenue (+21%)

EBITDA (+37%)
911

( In IDR Bn )

170

( In IDR Bn )

751
124

19%

17%

Q1 2014

Q1 2015

Q1 2014

Q1 2015
14%

Blended OPD Visits (+17%)

IPD Admissions (+20%)
31,360

415,099
26,036

353,936

Q1 2014

Q1 2015

Q1 2014

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).

Q1 2015

18%

Average Revenue Per Patient

20
23

Blended IPD Average Revenue Per Patient
(IDR Mn)

50.0
40.9
39.4 37.9
39.0
36.2

40.0

28.9
28.4

30.0
20.0

16.8

19.119.119.821.5

21.7
15.6
15.113.8
15.5

11.6
9.3 11.1 10.4

10.0

7.1
5.0

5.1

20.2
7.7 7.8

7.0 6.2

4 Mature

2 Developing

MRCCC
2010
2011

2012

RSUS
2013

4 New 2012
2014
Q1 2015

4 New 2013

4 New 2014

Blended OPD Average Revenue Per Patient
(IDR Mn)

2.5
2.0

2.0

2.1 2.1 2.1
1.7

1.3 1.2

1.5
1.0

0.6 0.7 0.7

0.8 0.8 0.9

1.0

0.5 0.6

0.6 0.5 0.5 0.6 0.6

0.5

0.2

0.6 0.6

0.6

0.2 0.3 0.3

4 Mature

2 Developing
2010

MRCCC
2011

2012

RSUS
2013

2014

4 New 2012
Q1 2015

4 New 2013

4 New 2014

0.5

Operational Update Patient Visits & Admissions

21
24

OPD Visits (+31%)
(No of OPD Visits)

200,000

4%

168,562 175,539

150,000
100,000

16%

27%

38,383 44,448

50,000

119%

29%

13,560 17,481

32,330

37,747

80%

47,795
18,333

14,772

33,014

32,453
-

4 Mature

2 Developing

MRCCC
Q1 2014

RSUS
Q1 2015

4 New 2012

4 New 2013

4 New 2014

ED Visits (+29%)
(No of ED Visits)

25,000

20,000

-8%

21,056

19,317

15,000

5%

10,000

8,985

16%

4,538

5,000

152%

5,266

107%

3,478
1,380

9,436

1,226

36%

4,552

7,662

6,187

2,536
-

4 Mature

2 Developing

MRCCC
Q1 2014

RSUS
Q1 2015

4 New 2012

4 New 2013

4 New 2014

Operational Update Patient Visits & Admissions

22
25

IPD Admissions (+42%)
(No of IPD Admissions)

16,000
12,000

- 1%

11,420 11,317
58%

7,819

8,000

35%

28%

3,018

4,000

3,856

17%

1,384

1,626

2,676

4,962

5,554

22%

3,602

2,576

3,140
-

4 Mature

2 Developing

MRCCC
Q1 2014

RSUS
Q1 2015

4 New 2012

4 New 2013

4 New 2014

Average Length Of Stay (3.9)
(ALOS)

6.0
5.0

5.4
4.4

4.6

4.1

4.0

3.4

4.6
4.0

3.58

4.2

4.4
3.7
3.1

3.0

3.0
2.0
1.0
4 Mature

2 Developing

MRCCC
Q1 2014

RSUS
Q1 2015

4 New 2012

4 New 2013

4 New 2014

Thank You