Siloam Hospitals | Investor Relations - Company Presentation - Rumah Sakit Siloam Hospitals
2015 Indonesia Healthcare Services
Provider of The Year
Frost and Sullivan
9M 2016 Results
9M 2016 Results
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
t pi all o tai ords su h as ill , e pe ts a d a ti ipates a d ords of si ilar i port. B their ature, for ard 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
ha ges; “ILO’s a ilit to e a d re ai o petiti e; “ILO’s fi a ial o ditio , usi ess strateg as ell as the pla s a d objectives of
“ILO’s a age e t for future operatio s; ge eratio of future re ei a les; a d e iro e tal o plia e a d re ediatio . “hould 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.
Table of Contents
Where We Are In Lippo Karawaci
Corporate Structure
Highly Experienced & Professional Management
The Vision
The Journey
The Operations
The Strategy & Business Model
Premier Private Hospital Group
Hospitals Under Development
Financial Performance
Operational Performance
Appendices
04
05
06
07
08
09
10 – 13
14 – 23
24 – 28
29 – 36
37 – 44
45 – 47
9M 2016 Results
Where We Are In Lippo Karawaci
LIPPO RELATED COMPANIES
CREDIT SUISSE AGSG TRACCL MPU
PUBLIC
25.46%
5.25%
69.29 %
As of 30 Sept 2016
No . Of Outstanding Shares : 23,077,689,619
Code : LPKR.JK ; LPKR IJ
61.8%
PT SILOAM INTERNATIONAL
HOSPITALS TBK
54.4%
PT LIPPO CIKARANG TBK
As of 30 Sept 2016
No. of Outstanding Shares : 1,156,100,000
Code : SILO
59.8%
PT GOWA MAKASSAR TOURISM
DEVELOPMENT TBK
100%
PT BOWSPRIT ASSET
MANAGEMENT
4
9M 2016 Results
Corporate Structure
LIPPO KARAWACI RELATED COMPANIES
CVC CAPITAL PARTNERS
PUBLIC
61.82%
15.00%
23.18 %
As of 30 Sept 2016
No . Of Outstanding Shares : 1,156,100,000
Code : SILO
5
9M 2016 Results
6
Highly Experienced & Professional Management
Board of Commissioners
Lee Heok Seng
President
Commissioner
Theo L. Sambuaga Jenny Kuistono
Commissioner
Commissioner
Farid Harianto
Independent
Commissioner
Ir. Jonathan L.
Parapak
Independent
Commissioner
dr. Niel Nielson
Independent
Commissioner
Andy
Purwohardono*
Commissioner
John Pitsonis*
Commissioner
Board of Directors
Caroline Riady*
Romeo Lledo
President Director, Vice President
Director
Independent Director
*Appointed on October 11, 2016
dr. Andry
Director
dr. Anang Prayudi dr. Grace Frelita
Director
Director
Budi Legowo
Director
Norita Alex
Director
Atiff Gill*
Director
Ryanto Tedjomulja*
Director
9M 2016 Results
The Vision
By 2019..
• Beds
International
Reach
Quality
Godly
Compassion
over 10,000
• Patients per annum
over 15 million
• Hospitals
over 50 hospitals
over 25 cities
Scale
Affordable and Accessible Healthcare
to all socio economic segments
7
9M 2016 Results
The Journey
SHLV – I do esia’s First Hospital to e
Accredited and Re-accredited by JCI
(2007, 2010 and 2014)
RSUS
BIMC Nusa Dua – I do esia’s First
Hospital to be Accredited by ACHS
Australia (2014)
SH Manado
SH Bali
SH Kupang
SH Buton
SH Palembang
SH TB
Simatupang
SH Medan
SH Samarinda
2014
2016
SH Lippo
Cikarang
SH MRCCC
1996
2002
2011
2012
2013
SH Jambi
SH Cinere
BIMC Kuta
SH
Balikpapan
SH Labuan
Bajo
SH Makassar
SH
Lippo Village
SH
Kebon Jeruk
SH
Surabaya
SH
Purwakarta
Asri
BIMC
Nusa Dua
2013 – The Company
successfully completed IPO
1996 – 2006: Learning Phase
2007 – 2010: Consolidation Phase
2011 to Date: Expansion Phase
8
9M 2016 Results
9
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 :
136.6 mio
Nusa Tenggara Population :
9.2 mio
Bali Population :
3.9 mio
Operational Hospitals (23)
Completed Hospital Awaiting for Operational License (3)
Future Developments (40)
Greater Jakarta Population :
28 mio
Jakarta Population :
10 mio
The Strategy & Business Model
4 Pillar Foundation
Clinical Service Delivery
UPH Medical Sciences (UPHMS)
11
12
13
9M 2016 Results
4 Pillar Foundation
1
Emergency
2
Technology
3
Telemedicine
4
Doctors
Excellence in
Emergency Services
1-500-911
State-of-the-Art Medical
Equipment and Systems
Digital Telemedicine
Hu a d “poke
Siloam Doctor
Partnership and
Development Program
4 Pillar Foundation
Siloa
Hospitals’ four pillar fou datio has ee ke to the su ess of our e isti g hospitals a d ill ser e
as the asis for repli ati g this su ess at our e pa sio hospitals…
11
9M 2016 Results
12
Clinical Service Delivery
“iloa ’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
Pio eeri g i est e ts i I do esia’s health are se tor
– Comprehensive Cancer Centre opened in 2011
– I do esia’s first Ga
a K ife i stalled i 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
Secondary
1
Primary
Research and Education
• 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
do tors’ elfare “DPDP
– Equip hospitals with State-of-the-Art facilities such as 128 slice
CT Scan and 1.5T MRI
• 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
– Gate ay to I do esia’s U i ersal Health are Co erage a d Go er e t
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
9M 2016 Results
UPH Medical Sciences (UPHMS)
Bringing Together Clinical, Research & Education
Centre of Excellence and
Global Reputation
• Alignment – across teaching
and service delivery
• Affiliate with agencies such
as ACORN/NUS/SGH/UOM
• Leading edge research
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
13
Premier Private Hospital Group
Mature Hospitals
Developing Hospitals
Distinct Market Segment Hospitals
New Hospitals
Siloam Clinic
Completed Hospital In Yogyakarta
Completed Hospital In Bogor
Completed Hospital In Bekasi Blu Plaza
15
16 – 17
18
19
20
21
22
23
9M 2016 Results
15
Mature Hospitals
SILOAM HOSPITALS BALIKPAPAN
SILOAM HOSPITALS LIPPO VILLAGE
TANGERANG (West of Jakarta)
JCIA
308 Bed Capacity
274 Operational Beds
238 GP and Specialists
391 Nurses
Centre of Excellence : Cardiology, Neuroscience,
Orthopedics & Emergency
SILOAM HOSPITALS KEBON JERUK
WEST JAKARTA
285 Bed Capacity
215 Operational Beds
208 GP and Specialists
326 Nurses
Centre of Excellence : Urology,
Orthopaedic, Cardiology & Emergency
SILOAM HOSPITALS SURABAYA
EAST JAVA
162 Bed Capacity
160 Operational Beds
156 GP and Specialists
247 Nurses
Centre of Excellence : Fertility Treatment,
Cardiology & Emergency
EAST KALIMANTAN
232 Bed Capacity
165 Operational Bed
113 GP and Specialists
162 Nurses
Centre of Excellence : Orthopedics & Emergency
79.61% Ownership
SILOAM HOSPITALS PURWAKARTA
JCIA
WEST JAVA
202 Bed Capacity
190 Operational Beds
56 GP and Specialists
180 Nurses
Centre of Excellence : Emergency
9M 2016 Results
Developing Hospitals
79.84% Ownership
SILOAM HOSPITALS CIKARANG
SILOAM GENERAL HOSPITAL (RSUS)
BEKASI (East of Jakarta)
TANGERANG (West of Jakarta)
114 Bed Capacity
108 Operational Beds
93 GP and Specialists
162 Nurses
Centre of Excellence : Occupational Health &
Emergency
640 Bed Capacity
300 Operational Beds
52 GP and Specialists
228 Nurses
Centre of Excellence : Emergency
SILOAM HOSPITALS JAMBI
SILOAM HOSPITALS MANADO
EAST SUMATERA
100 Bed Capacity
90 Operational Beds
66 GP and Specialists
125 Nurses
Centre of Excellence : Emergency
NORTH SULAWESI
238 Bed Capacity
177 Operational Beds
108 GP and Specialists
198 Nurses
Centre of Excellence : Emergency
MRCCC SILOAM SEMANGGI
SILOAM HOSPITALS MAKASSAR
SOUTH JAKARTA
334 Bed Capacity
155 Operational Beds
173 GP and Specialists
293 Nurses
Centre of Excellence : Cancer, Liver &
Emergency
SOUTH SULAWESI
83.0% Ownership
362 Bed Capacity
215 Operational Beds
123 GP and Specialists
239 Nurses
Centre of Excellence : Cardiology,
Endocrinology &
Emergency
16
9M 2016 Results
Developing Hospitals
SILOAM HOSPITALS PALEMBANG
SILOAM HOSPITALS MEDAN
SOUTH SUMATERA
NORTH SUMATERA
357 Bed Capacity
150 Operational Beds
136 GP and Specialists
171 Nurses
Centre of Excellence : Gastroenterology &
Emergency
70.00% Ownership
356 Bed Capacity
75 Operational Beds
103 GP and Specialists
82 Nurses
Centre of Excellence : Emergency & Trauma
SILOAM HOSPITALS CINERE
SILOAM HOSPITALS TB SIMATUPANG
DEPOK (South of Jakarta)
SOUTH JAKARTA
269 Bed Capacity
100 Operational Beds
155 GP and Specialists
131 Nurses
Centre of Excellence : Cardiology, Oncology,
Neuroscience &
Emergency
50 Bed Capacity
37 Operational Beds
18 GP and Specialists
43 Nurses
Centre of Excellence: Cardiology
80.0% Ownership
SILOAM HOSPITALS KUPANG
EAST NUSA TENGGARA
416 Bed Capacity
110 Operational Beds
56 GP and Specialists
151 Nurses
Centre of Excellence : Emergency
17
9M 2016 Results
18
Distinct Market Segment Hospitals
SILOAM HOSPITALS BALI
BIMC KUTA
BALI
BALI
19 Bed Capacity
18 Operational Beds
51 GP and Specialists
64 Nurses
Centre of Excellence : Treatment for tourists &
Emergency
281 Bed Capacity
110 Operational Beds
122 GP and Specialists
195 Nurses
Centre of Excellence : Treatment for tourists,
Orthopedics, Cardiology &
Emergency
SILOAM HOSPITALS ASRI
SOUTH JAKARTA
40 Bed Capacity
40 Operational Beds
100 GP and Specialists
79 Nurses
Centre of Excellence : Urology
BIMC NUSA DUA
BALI
39 Bed Capacity
24 Operational Beds
57 GP and Specialists
65 Nurses
Centre of Excellence : Cosmetic Surgery &
Emergency
9M 2016 Results
New Hospitals
SILOAM HOSPITALS LABUAN BAJO
SILOAM HOSPITALS SAMARINDA
EAST NUSA TENGGARA
124 Bed Capacity
60 Operational Beds
20 GP and Specialists
64 Nurses
Centre of Excellence : Emergency
EAST KALIMANTAN
34 Bed Capacity
10 Operational Beds
34 GP and Specialists
18 Nurses
Centre of Excellence : Emergency
SILOAM HOSPITALS BUTON
SOUTHEAST SULAWESI
140 Bed Capacity
30 Operational Beds
32 GP and Specialists
69 Nurses
Centre of Excellence : Emergency
19
9M 2016 Results
Siloam Clinic
CYBER PARK KARAWACI
FAÇADE
RECEPTION
GP’s CON“ULTATION ROOM
FAÇADE
RECEPTION
GP’s CON“ULTATION ROOM
MERTANADI BALI
20
9M 2016 Results
Completed Hospital In Yogyakarta
FAÇADE
MAIN LOBBY
FRONT OFFICE
OUT PATIENT DEPARTMENT
21
9M 2016 Results
Completed Hospital In Bogor
FAÇADE
EMERGENCY DEPARTMENT
MAIN LOBBY
OUT PATIENT DEPARTMENT
22
9M 2016 Results
Completed Hospital In Bekasi Blu Plaza
FAÇADE
FRONT OFFICE
EMERGENCY
OUT PATIENT DEPARTMENT
23
Hospitals Under Development
Licensing Requirement
For Completion In 2017
25
26 – 28
9M 2016 Results
Licensing Requirement
Licensing Process
In order to be able to fully commission a new hospital, we have to go through a licensing process involving local governments and
provincial health departments. This process involves more than 40 licenses and can be summarized into 6 most critical licenses.
Environmental License
(AMDAL)
Building Permit
(IMB)
Hospital
Building Permit
(IMRS)
Nuisance
Permit (HO)
Certificate of
Proper Building
Function (SLF)
Operational
License (IO)
Status of Major Projects for 2016 & 2017
Hospital
Yogyakarta
Bekasi Blu Plaza
Bogor
Bangka
Lubuk Linggau
Jember
Sorong
Semarang Hoo
Bekasi Grand Mall
Banjarmasin
Gunung Sahari
AMDAL
IMB
HO
IMRS
SLF
IO
25
9M 2016 Results
For Completion In 2017
BANJARMASIN
BATU LIPPO MALL
BEKASI GRAND MALL
KALIMALANG
LIPPO KUNINGAN
MANADO KAIRAGI
NINE RESIDENCE
PALANGKARAYA
GUNUNG SAHARI
PLUIT VILLAGE
SEMARANG HOO
SURABAYA CITO
26
9M 2016 Results
For Completion In 2017
BANGKA BELITUNG
June 2016
Current
June 2016
Current
June 2016
Current
JEMBER
LUBUK LINGGAU
27
9M 2016 Results
For Completion In 2017
SORONG
June 2016
Current
28
Financial Performance
Strong Financial Performance
Revenue & EBITDA Details
Balance Sheets
Steady Ramp-up Model
Hospitals Ramp-Up
Comparable Margin with Peers
30
31
32
33
34 – 35
36
9M 2016 Results
30
Strong Financial Performance
Revenue
EBITDA
In IDR Bn
In IDR Bn
% to NOR
574
4,144
+24%
+23%
3,824
19%
500
466
3,341
+56%
+33%
18%
19%
3,042
+23%
2,504
+40%
2,764
298
2,472
+34%
+35%
1,788
+42%
221
1,847
+43%
+45%
GOR 1,259
16%
17%
155
1,273
+44%
NOR
18%
881
FY 2011
FY 2012
FY 2013
FY 2014
FY 2015
9M 2016
FY 2011
FY 2012
FY 2013
FY 2014
FY 2015
9M 2016
Siloam is the clear leader and fastest growing private hospital group in Indonesia serving all segments of the population
Notes:
GOR refers to revenues relating to medical support services, professional fees and consultation fees, drugs and medical supplies, room service, administration, operating theatre, delivery rooms, registration fees and other services.
NOR is calculated by deducting service costs (doctor consultation and professional fees) from GOR.
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).
9M 2016 Results
31
Revenue & EBITDA Details
9M
In IDR Bn
∆%
2015
2016
3,013
3,824
27%
795
1,060
33%
2,218
2,764
25%
Material Cost
886
1,094
24%
Gross Margin
1,333
1,670
25%
Operating Expenses
832
1,074
29%
EBITDAR
501
596
19%
% to GOR
16.6%
15.6%
% to NOR
22.6%
21.6%
Rental (i)
69
96
38%
EBITDA (ii)
431
500
16%
% to GOR
14.3%
13.1%
% to NOR
19.4%
18.1%
68
95
2.2%
3.0%
2.5%
3.4%
GOR
Service Cost
NOR
NPAT
% to GOR
% to NOR
40%
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, 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).
9M 2016 Results
Balance Sheets
2015
9M 2016
∆%
Cash & Equivalent
160
106
-34%
Other Current Assets
796
1,040
31%
Property and Equipment
1,553
1,620
4%
Other Non-Current Assets
477
540
13%
2,986
3,306
11%
384
449
17%
Liabilities
1,246
1,472
18%
Shareholders' Equity
1,740
1,834
5%
Total Liabilities & Equity
2,986
3,306
11%
Gearing Ratio
0.22
0.24
11%
Net Gearing Ratio
0.13
0.19
45%
In IDR Bn
Assets
Total Assets
Liabilities & Equity
Debt
32
9M 2016 Results
33
Steady Ramp-up Model
Contribution
EBITDA Margin
% to NOR
37%
13%
12%
20%
35%
21%
28%
27%
42%
45%
28%
34%
18%
15%
53%
46%
42%
49%
-257%
0%
9M 2015
9M 2016
Revenue
Mature
Developing
-4%
9M 2015
9M 2016
EBITDA
Distinct
New
9M 2015
Mature
9M 2016
Developing
Distinct
New
Increasing contribution from developing hospitals
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).
9M 2016 Results
Hospitals Ramp-Up
Manado (Operational in 2012)
In IDR Bn
% to NOR
51,537
207
22.2%
8,377
71.2%
38,242
5,299
40.3%
94
0.0%
BPJS
FY 2013
47.8%
BPJS
FY 2015
Revenue
177
beds
-0.5%
FY 2013
FY 2015
EBITDA Margin
FY 2013
FY 2015
FY 2013
OPD Visits
FY 2015
IPD Admissions
FY 2013
177
beds
FY 2015
Occupancy Rate
Makassar (Operational in 2012)
In IDR Bn
% to NOR
227
99,534
24.8%
11,628
62.7%
13.5%
102
0.0%
BPJS
FY 2013
24.4%
BPJS
FY 2015
Revenue
40,312
34.5%
4,893
179
beds
FY 2013
FY 2015
EBITDA Margin
FY 2013
FY 2015
FY 2013
OPD Visits
Proven track record of ramp-up hospitals
FY 2015
IPD Admissions
FY 2013
215
beds
FY 2015
Occupancy Rate
34
9M 2016 Results
Hospitals Ramp-Up
Palembang (Operational in 2012)
In IDR Bn
% to NOR
83,851
158
7,831
69.2%
21.1%
92
9.6
%
0.0%
BPJS
FY 2013
0.0%
BPJS
FY 2015
Revenue
4,916
45,748
43.8%
135
beds
FY 2013
FY 2015
EBITDA Margin
FY 2013
FY 2015
FY 2013
OPD Visits
FY 2015
IPD Admissions
FY 2013
135
beds
FY 2015
Occupancy Rate
TB (Operational in 2013)
In IDR Bn
% to NOR
54,445
162
3,475
21.8%
47.0%
2,863
37,020
113
16.2%
42.9%
0.0%
BPJS
FY 2014
0.2%
BPJS
FY 2015
Revenue
80
beds
FY 2014
FY 2015
EBITDA Margin
FY 2014
FY 2015
FY 2014
OPD Visits
Proven track record of ramp-up hospitals
FY 2015
IPD Admissions
FY 2014
80
beds
FY 2015
Occupancy Rate
35
9M 2016 Results
36
Comparable Margin with Peers
SILO EBITDAR Margin
SILO EBITDA Margin
% to NOR
Peers EBITDA Margin
% to NOR
% to NOR
37.8%
37.5%
39.8%
36.9%
34.7%
30.0%
31.5%
30.0%
28.0%
27.0%
23.7%
21.6%
22.2%
18.5%
18.4%
15.0%
-247.6%
Mature
Developing
9M 2015
Distinct
9M 2016
New
-256.8%
Mature
Developing
9M 2015
Distinct
New
Hospital A Hospital B Hospital C Hospital D
9M 2016
Siloam Mature and Distinct Hospitals EBITDAR Margin are comparable to the Peers EBITDA Margin
Note:
EBITDAR refers to income before depreciation, provisions for post-employment benefits, allowance for impairment in value, corporate income taxes, other expense and/or income (consisting primarily of financing income and others-net) and rental.
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).
Operational Performance
Medical Equipment Utilization
Outpatient Visits
Emergency Visits
In-patient Admissions
Bed Occupancy Rate
Average Revenue Per Patient
Manpower Availability
38
39
40
41
42
43
44
9M 2016 Results
Medical Equipment Utilization
CT-Scan
50.0%
39.4%
40.0%
30.0%
29.2%
21.5%
17.7%
20.0%
16.1%
12.6%
6.2%
10.0%
7.3%
0.0%
0.3%
0.0%
Mature
Developing
Distinct
9M 2015
9M 2016
New
Consolidated
MRI
40.0%
32.9%
30.0%
28.2%
23.2%
19.2%
19.1%
20.0%
14.5%
11.4% 10.7%
10.0%
0.0%
0.0%
0.0%
Mature
Developing
Distinct
9M 2015
9M 2016
New
Consolidated
38
9M 2016 Results
39
Outpatient Visits
1st Quarter
2nd Quarter
+20%
+22%
+9%
466,298
383,060
+36%
215,036
207,497
196,889
152,962
Mature
Developing
-
Distinct
2015
+26%
209,124
209,129
190,511
165,911
+29%
42,740
33,209
+10%
467,166
389,487
45,742
33,065
1,025
New
+38%
Consolidated
Mature
Developing
2016
Distinct
2015
3rd Quarter
-
3,171
New
2016
Nine Months Ended September 30
+20%
1,385,954
+19%
+6%
452,427
379,423
+28%
210,777
191,247
180,487
164,039
Mature
Developing
Distinct
2015
2016
1,151,970
+8%
615,407
567,887
+27%
44,232
34,897
Consolidated
-
+30%
627,403
482,912
132,714
101,171
6,171
New
+31%
Consolidated
Mature
Developing
Distinct
2015
2016
-
10,430
New
Consolidated
9M 2016 Results
40
Emergency Visits
1st Quarter
2nd Quarter
+24%
+18%
67,039
53,882
+30%
30,539
28,868
23,473
24,440
+25%
5,969
Mature
Developing
7,451
+17%
60,064
49,851
+20%
+25%
26,200
26,115
22,229
21,871
-
Distinct
2015
+20%
5,751
181
New
Consolidated
Mature
Developing
2016
-
Distinct
2015
3rd Quarter
7,183
566
New
2016
Nine Months Ended September 30
+11%
55,934
50,174
+6%
+11%
22,843
24,029
21,728
21,474
Mature
Developing
+19%
183,061
153,907
+14%
-
2016
+20%
22,371
18,692
7,737
Distinct
2015
+20%
80,768
77,826
68,143
67,072
+11%
6,972
Consolidated
1,325
New
Consolidated
Mature
Developing
Distinct
2015
2016
-
2,096
New
Consolidated
9M 2016 Results
41
In-patient Admissions
1st Quarter
2nd Quarter
+22%
44,852
36,914
+28%
+10%
+15%
22,841
18,641 17,841
16,144
Developing
-
Distinct
2015
42,396
35,690
+24%
21,156
17,481
17,029
15,904
+11%
2,929 3,253
Mature
+19%
2,757 3,267
117
New
+18%
Consolidated
Mature
Developing
2016
Distinct
2015
3rd Quarter
-
492
New
2016
Nine Months Ended September 30
+19%
127,715
107,022
+18%
+3%
40,467
34,418
+22%
20,875
15,233 17,098
14,745
Mature
Developing
3,401
Distinct
2015
2016
+25%
+10%
64,872
51,355 51,968
46,793
+32%
2,575
Consolidated
+20%
9,921
-
8,261
958
New
Consolidated
Mature
Developing
-
Distinct
2015
2016
1,567
New
Consolidated
9M 2016 Results
42
Bed Occupancy Rate
1st Quarter
74%
69%
2nd Quarter
71%
71%
63%
60%
59%
72%
58%
54%
70%
64%
67%
61%
50%
33%
26%
0%
Mature
Developing
Distinct
2015
0%
New
Consolidated
Mature
61%
56%
Distinct
2015
New
Consolidated
2016
Nine Months Ended September 30
63%
61%
Developing
2016
3rd Quarter
62%
67%
58%
60%
66%
69%
57%
45%
43%
65%
65%
60%
65%
49%
24%
0%
Mature
Developing
Distinct
2015
2016
New
0%
Consolidated
Mature
Developing
Distinct
2015
2016
New
Consolidated
9M 2016 Results
43
Average Revenue Per Patient
In-patient Average Revenue Per Patient
IDR Mn
35.0
28.6
30.0
25.0
20.0
19.7 19.0
17.8 18.9
30.7 30.1
20.4
17.9 17.9 17.7 18.5
15.8 15.2 15.7 16.8
15.0
10.0
6.6
5.0
-
-
-
Mature
Developing
FY 2013
FY 2014
Distinct
FY 2015
New
Consolidated
9M 2016
Blended Out Patient Average Revenue Per Patient
IDR Mn
1.4
1.3
1.2
1.0
1.1
0.8
0.8
0.8
0.8
0.9
0.8
0.8
0.8
1.0
1.1
0.8
0.8
0.6
0.8
0.8
0.4
0.4
0.2
-
-
-
Mature
Developing
FY 2013
FY 2014
Distinct
FY 2015
New
9M 2016
Consolidated
0.9
9M 2016 Results
44
Manpower Availability
Doctors
Nurses
% to NOR
1,699
1,503
3,564
3,244
1,209
2,628
960
735
1,948
1,576
445
421
FY 2014
FY 2015
304
151
189
FY 2011
FY 2012
FY 2013
GP
FY 2011
FY 2012
Specialist
FY 2013
FY 2014
FY 2015
Nurses
Siloa ’s rete tio of Doctors and Nurses is strong
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).
Appendices
Comparison Health Statistics
Hospitals in Indonesia
46
47
9M 2016 Results
46
Comparison Health Statistics
Hospital beds per 10,000 pops
Physician per10,000 pops
Health Profesionals per 10,000
pops
Life expectancy at birth (years)
IMR per 1,000 live birth
MMR per 100,000 live birth
% Government Expenditure
% Private Expenditure
Healthcare Spend as % of GDP
Indonesia Vietnam Malaysia Singapore South Korea
9
20
19
20
103
2
12
12
20
21
Per capita total expenditure on
healthcare (USD)
45
75
4
40
55
45
4
77
83
1
10
40
60
5
72
82
2
11
53
47
7
24
68
28
174
32
68
4
32
76
6
27
56
44
6
293
308
938
3.578
2.398
215
646
UK
28.1
USA
24.5
21.4
19.5
14.9
9.4
UK
9.1
South Korea
7.2
Vietnam
6.0
China
5.6
Singapore
Vietnam
11.9
Malaysia
4.0
India
4.0
Indonesia
2.0
Source : World Bank, WHO 2016
4.191
UK
29
25
29
28
123
79
4
14
47
53
17
116
81
2
9
84
16
9
9.146
3.311
17.1
Australia
12.0
7.0
139
83
2
6
67
33
9
USA
Malaysia
India
USA
Total Healthcare Spending as % of GDP
32.7
China
7
7
24
76
11
54
42
58
6
Australia
Singapore
China Australia
38
39
15
33
16
69
14
126
39
61
3
Physicians per 10,000 pops
South Korea
India
Indonesia
4.6
3.1
9M 2016 Results
47
Hospitals in Indonesia
No
OWNER
31 Dec 10
31 Dec 11
31 Dec 12
31 Dec 13
31 Dec 14
31 Dec 15
30 Sep 16
1
MOH
31
32
32
33
34
36
33
2
PROVINCE GOVERNMENT
85
85
89
96
98
113
119
3
MUNICIPAL GOVERNMENT
63
86
88
92
93
98
97
4
DISTRICT GOVERNMENT
403
411
444
455
463
469
477
5
ARMY / POLICE
131
134
155
159
170
170
167
6
OTHER MINISTRIES /
PUBLIC COMPANIES
79
80
79
79
79
79
75
7
PRIVATE
840
893
1,179
1,314
1,472
1,525
1,612
1,632
1,721
2,066
2,228
2,409
2,490
2,580
TOTAL
Source : Ministry of Health
49
50
The Largest Healthcare Provider
of Choice in Indonesia
Siloam is the leading private hospital network with 23 hospitals in 17 cities across Indonesia.
Siloam Hospitals Group is Indonesia’s most progressive and innovative healthcare provider that has set the benchmark for quality healthcare
services. Siloam’s medical team of more than 400 general practitioners, 1,500 specialist doctors and 7,200 nurses, allied health and support staff,
offers best-in-class healthcare services to nearly two million patient annually.
51
52
Online Appointment : www.siloamhospitals.com
Appointment and General Information, contact : 1 – 500 – 181
Provider of The Year
Frost and Sullivan
9M 2016 Results
9M 2016 Results
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
t pi all o tai ords su h as ill , e pe ts a d a ti ipates a d ords of si ilar i port. B their ature, for ard 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
ha ges; “ILO’s a ilit to e a d re ai o petiti e; “ILO’s fi a ial o ditio , usi ess strateg as ell as the pla s a d objectives of
“ILO’s a age e t for future operatio s; ge eratio of future re ei a les; a d e iro e tal o plia e a d re ediatio . “hould 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.
Table of Contents
Where We Are In Lippo Karawaci
Corporate Structure
Highly Experienced & Professional Management
The Vision
The Journey
The Operations
The Strategy & Business Model
Premier Private Hospital Group
Hospitals Under Development
Financial Performance
Operational Performance
Appendices
04
05
06
07
08
09
10 – 13
14 – 23
24 – 28
29 – 36
37 – 44
45 – 47
9M 2016 Results
Where We Are In Lippo Karawaci
LIPPO RELATED COMPANIES
CREDIT SUISSE AGSG TRACCL MPU
PUBLIC
25.46%
5.25%
69.29 %
As of 30 Sept 2016
No . Of Outstanding Shares : 23,077,689,619
Code : LPKR.JK ; LPKR IJ
61.8%
PT SILOAM INTERNATIONAL
HOSPITALS TBK
54.4%
PT LIPPO CIKARANG TBK
As of 30 Sept 2016
No. of Outstanding Shares : 1,156,100,000
Code : SILO
59.8%
PT GOWA MAKASSAR TOURISM
DEVELOPMENT TBK
100%
PT BOWSPRIT ASSET
MANAGEMENT
4
9M 2016 Results
Corporate Structure
LIPPO KARAWACI RELATED COMPANIES
CVC CAPITAL PARTNERS
PUBLIC
61.82%
15.00%
23.18 %
As of 30 Sept 2016
No . Of Outstanding Shares : 1,156,100,000
Code : SILO
5
9M 2016 Results
6
Highly Experienced & Professional Management
Board of Commissioners
Lee Heok Seng
President
Commissioner
Theo L. Sambuaga Jenny Kuistono
Commissioner
Commissioner
Farid Harianto
Independent
Commissioner
Ir. Jonathan L.
Parapak
Independent
Commissioner
dr. Niel Nielson
Independent
Commissioner
Andy
Purwohardono*
Commissioner
John Pitsonis*
Commissioner
Board of Directors
Caroline Riady*
Romeo Lledo
President Director, Vice President
Director
Independent Director
*Appointed on October 11, 2016
dr. Andry
Director
dr. Anang Prayudi dr. Grace Frelita
Director
Director
Budi Legowo
Director
Norita Alex
Director
Atiff Gill*
Director
Ryanto Tedjomulja*
Director
9M 2016 Results
The Vision
By 2019..
• Beds
International
Reach
Quality
Godly
Compassion
over 10,000
• Patients per annum
over 15 million
• Hospitals
over 50 hospitals
over 25 cities
Scale
Affordable and Accessible Healthcare
to all socio economic segments
7
9M 2016 Results
The Journey
SHLV – I do esia’s First Hospital to e
Accredited and Re-accredited by JCI
(2007, 2010 and 2014)
RSUS
BIMC Nusa Dua – I do esia’s First
Hospital to be Accredited by ACHS
Australia (2014)
SH Manado
SH Bali
SH Kupang
SH Buton
SH Palembang
SH TB
Simatupang
SH Medan
SH Samarinda
2014
2016
SH Lippo
Cikarang
SH MRCCC
1996
2002
2011
2012
2013
SH Jambi
SH Cinere
BIMC Kuta
SH
Balikpapan
SH Labuan
Bajo
SH Makassar
SH
Lippo Village
SH
Kebon Jeruk
SH
Surabaya
SH
Purwakarta
Asri
BIMC
Nusa Dua
2013 – The Company
successfully completed IPO
1996 – 2006: Learning Phase
2007 – 2010: Consolidation Phase
2011 to Date: Expansion Phase
8
9M 2016 Results
9
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 :
136.6 mio
Nusa Tenggara Population :
9.2 mio
Bali Population :
3.9 mio
Operational Hospitals (23)
Completed Hospital Awaiting for Operational License (3)
Future Developments (40)
Greater Jakarta Population :
28 mio
Jakarta Population :
10 mio
The Strategy & Business Model
4 Pillar Foundation
Clinical Service Delivery
UPH Medical Sciences (UPHMS)
11
12
13
9M 2016 Results
4 Pillar Foundation
1
Emergency
2
Technology
3
Telemedicine
4
Doctors
Excellence in
Emergency Services
1-500-911
State-of-the-Art Medical
Equipment and Systems
Digital Telemedicine
Hu a d “poke
Siloam Doctor
Partnership and
Development Program
4 Pillar Foundation
Siloa
Hospitals’ four pillar fou datio has ee ke to the su ess of our e isti g hospitals a d ill ser e
as the asis for repli ati g this su ess at our e pa sio hospitals…
11
9M 2016 Results
12
Clinical Service Delivery
“iloa ’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
Pio eeri g i est e ts i I do esia’s health are se tor
– Comprehensive Cancer Centre opened in 2011
– I do esia’s first Ga
a K ife i stalled i 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
Secondary
1
Primary
Research and Education
• 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
do tors’ elfare “DPDP
– Equip hospitals with State-of-the-Art facilities such as 128 slice
CT Scan and 1.5T MRI
• 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
– Gate ay to I do esia’s U i ersal Health are Co erage a d Go er e t
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
9M 2016 Results
UPH Medical Sciences (UPHMS)
Bringing Together Clinical, Research & Education
Centre of Excellence and
Global Reputation
• Alignment – across teaching
and service delivery
• Affiliate with agencies such
as ACORN/NUS/SGH/UOM
• Leading edge research
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
13
Premier Private Hospital Group
Mature Hospitals
Developing Hospitals
Distinct Market Segment Hospitals
New Hospitals
Siloam Clinic
Completed Hospital In Yogyakarta
Completed Hospital In Bogor
Completed Hospital In Bekasi Blu Plaza
15
16 – 17
18
19
20
21
22
23
9M 2016 Results
15
Mature Hospitals
SILOAM HOSPITALS BALIKPAPAN
SILOAM HOSPITALS LIPPO VILLAGE
TANGERANG (West of Jakarta)
JCIA
308 Bed Capacity
274 Operational Beds
238 GP and Specialists
391 Nurses
Centre of Excellence : Cardiology, Neuroscience,
Orthopedics & Emergency
SILOAM HOSPITALS KEBON JERUK
WEST JAKARTA
285 Bed Capacity
215 Operational Beds
208 GP and Specialists
326 Nurses
Centre of Excellence : Urology,
Orthopaedic, Cardiology & Emergency
SILOAM HOSPITALS SURABAYA
EAST JAVA
162 Bed Capacity
160 Operational Beds
156 GP and Specialists
247 Nurses
Centre of Excellence : Fertility Treatment,
Cardiology & Emergency
EAST KALIMANTAN
232 Bed Capacity
165 Operational Bed
113 GP and Specialists
162 Nurses
Centre of Excellence : Orthopedics & Emergency
79.61% Ownership
SILOAM HOSPITALS PURWAKARTA
JCIA
WEST JAVA
202 Bed Capacity
190 Operational Beds
56 GP and Specialists
180 Nurses
Centre of Excellence : Emergency
9M 2016 Results
Developing Hospitals
79.84% Ownership
SILOAM HOSPITALS CIKARANG
SILOAM GENERAL HOSPITAL (RSUS)
BEKASI (East of Jakarta)
TANGERANG (West of Jakarta)
114 Bed Capacity
108 Operational Beds
93 GP and Specialists
162 Nurses
Centre of Excellence : Occupational Health &
Emergency
640 Bed Capacity
300 Operational Beds
52 GP and Specialists
228 Nurses
Centre of Excellence : Emergency
SILOAM HOSPITALS JAMBI
SILOAM HOSPITALS MANADO
EAST SUMATERA
100 Bed Capacity
90 Operational Beds
66 GP and Specialists
125 Nurses
Centre of Excellence : Emergency
NORTH SULAWESI
238 Bed Capacity
177 Operational Beds
108 GP and Specialists
198 Nurses
Centre of Excellence : Emergency
MRCCC SILOAM SEMANGGI
SILOAM HOSPITALS MAKASSAR
SOUTH JAKARTA
334 Bed Capacity
155 Operational Beds
173 GP and Specialists
293 Nurses
Centre of Excellence : Cancer, Liver &
Emergency
SOUTH SULAWESI
83.0% Ownership
362 Bed Capacity
215 Operational Beds
123 GP and Specialists
239 Nurses
Centre of Excellence : Cardiology,
Endocrinology &
Emergency
16
9M 2016 Results
Developing Hospitals
SILOAM HOSPITALS PALEMBANG
SILOAM HOSPITALS MEDAN
SOUTH SUMATERA
NORTH SUMATERA
357 Bed Capacity
150 Operational Beds
136 GP and Specialists
171 Nurses
Centre of Excellence : Gastroenterology &
Emergency
70.00% Ownership
356 Bed Capacity
75 Operational Beds
103 GP and Specialists
82 Nurses
Centre of Excellence : Emergency & Trauma
SILOAM HOSPITALS CINERE
SILOAM HOSPITALS TB SIMATUPANG
DEPOK (South of Jakarta)
SOUTH JAKARTA
269 Bed Capacity
100 Operational Beds
155 GP and Specialists
131 Nurses
Centre of Excellence : Cardiology, Oncology,
Neuroscience &
Emergency
50 Bed Capacity
37 Operational Beds
18 GP and Specialists
43 Nurses
Centre of Excellence: Cardiology
80.0% Ownership
SILOAM HOSPITALS KUPANG
EAST NUSA TENGGARA
416 Bed Capacity
110 Operational Beds
56 GP and Specialists
151 Nurses
Centre of Excellence : Emergency
17
9M 2016 Results
18
Distinct Market Segment Hospitals
SILOAM HOSPITALS BALI
BIMC KUTA
BALI
BALI
19 Bed Capacity
18 Operational Beds
51 GP and Specialists
64 Nurses
Centre of Excellence : Treatment for tourists &
Emergency
281 Bed Capacity
110 Operational Beds
122 GP and Specialists
195 Nurses
Centre of Excellence : Treatment for tourists,
Orthopedics, Cardiology &
Emergency
SILOAM HOSPITALS ASRI
SOUTH JAKARTA
40 Bed Capacity
40 Operational Beds
100 GP and Specialists
79 Nurses
Centre of Excellence : Urology
BIMC NUSA DUA
BALI
39 Bed Capacity
24 Operational Beds
57 GP and Specialists
65 Nurses
Centre of Excellence : Cosmetic Surgery &
Emergency
9M 2016 Results
New Hospitals
SILOAM HOSPITALS LABUAN BAJO
SILOAM HOSPITALS SAMARINDA
EAST NUSA TENGGARA
124 Bed Capacity
60 Operational Beds
20 GP and Specialists
64 Nurses
Centre of Excellence : Emergency
EAST KALIMANTAN
34 Bed Capacity
10 Operational Beds
34 GP and Specialists
18 Nurses
Centre of Excellence : Emergency
SILOAM HOSPITALS BUTON
SOUTHEAST SULAWESI
140 Bed Capacity
30 Operational Beds
32 GP and Specialists
69 Nurses
Centre of Excellence : Emergency
19
9M 2016 Results
Siloam Clinic
CYBER PARK KARAWACI
FAÇADE
RECEPTION
GP’s CON“ULTATION ROOM
FAÇADE
RECEPTION
GP’s CON“ULTATION ROOM
MERTANADI BALI
20
9M 2016 Results
Completed Hospital In Yogyakarta
FAÇADE
MAIN LOBBY
FRONT OFFICE
OUT PATIENT DEPARTMENT
21
9M 2016 Results
Completed Hospital In Bogor
FAÇADE
EMERGENCY DEPARTMENT
MAIN LOBBY
OUT PATIENT DEPARTMENT
22
9M 2016 Results
Completed Hospital In Bekasi Blu Plaza
FAÇADE
FRONT OFFICE
EMERGENCY
OUT PATIENT DEPARTMENT
23
Hospitals Under Development
Licensing Requirement
For Completion In 2017
25
26 – 28
9M 2016 Results
Licensing Requirement
Licensing Process
In order to be able to fully commission a new hospital, we have to go through a licensing process involving local governments and
provincial health departments. This process involves more than 40 licenses and can be summarized into 6 most critical licenses.
Environmental License
(AMDAL)
Building Permit
(IMB)
Hospital
Building Permit
(IMRS)
Nuisance
Permit (HO)
Certificate of
Proper Building
Function (SLF)
Operational
License (IO)
Status of Major Projects for 2016 & 2017
Hospital
Yogyakarta
Bekasi Blu Plaza
Bogor
Bangka
Lubuk Linggau
Jember
Sorong
Semarang Hoo
Bekasi Grand Mall
Banjarmasin
Gunung Sahari
AMDAL
IMB
HO
IMRS
SLF
IO
25
9M 2016 Results
For Completion In 2017
BANJARMASIN
BATU LIPPO MALL
BEKASI GRAND MALL
KALIMALANG
LIPPO KUNINGAN
MANADO KAIRAGI
NINE RESIDENCE
PALANGKARAYA
GUNUNG SAHARI
PLUIT VILLAGE
SEMARANG HOO
SURABAYA CITO
26
9M 2016 Results
For Completion In 2017
BANGKA BELITUNG
June 2016
Current
June 2016
Current
June 2016
Current
JEMBER
LUBUK LINGGAU
27
9M 2016 Results
For Completion In 2017
SORONG
June 2016
Current
28
Financial Performance
Strong Financial Performance
Revenue & EBITDA Details
Balance Sheets
Steady Ramp-up Model
Hospitals Ramp-Up
Comparable Margin with Peers
30
31
32
33
34 – 35
36
9M 2016 Results
30
Strong Financial Performance
Revenue
EBITDA
In IDR Bn
In IDR Bn
% to NOR
574
4,144
+24%
+23%
3,824
19%
500
466
3,341
+56%
+33%
18%
19%
3,042
+23%
2,504
+40%
2,764
298
2,472
+34%
+35%
1,788
+42%
221
1,847
+43%
+45%
GOR 1,259
16%
17%
155
1,273
+44%
NOR
18%
881
FY 2011
FY 2012
FY 2013
FY 2014
FY 2015
9M 2016
FY 2011
FY 2012
FY 2013
FY 2014
FY 2015
9M 2016
Siloam is the clear leader and fastest growing private hospital group in Indonesia serving all segments of the population
Notes:
GOR refers to revenues relating to medical support services, professional fees and consultation fees, drugs and medical supplies, room service, administration, operating theatre, delivery rooms, registration fees and other services.
NOR is calculated by deducting service costs (doctor consultation and professional fees) from GOR.
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).
9M 2016 Results
31
Revenue & EBITDA Details
9M
In IDR Bn
∆%
2015
2016
3,013
3,824
27%
795
1,060
33%
2,218
2,764
25%
Material Cost
886
1,094
24%
Gross Margin
1,333
1,670
25%
Operating Expenses
832
1,074
29%
EBITDAR
501
596
19%
% to GOR
16.6%
15.6%
% to NOR
22.6%
21.6%
Rental (i)
69
96
38%
EBITDA (ii)
431
500
16%
% to GOR
14.3%
13.1%
% to NOR
19.4%
18.1%
68
95
2.2%
3.0%
2.5%
3.4%
GOR
Service Cost
NOR
NPAT
% to GOR
% to NOR
40%
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, 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).
9M 2016 Results
Balance Sheets
2015
9M 2016
∆%
Cash & Equivalent
160
106
-34%
Other Current Assets
796
1,040
31%
Property and Equipment
1,553
1,620
4%
Other Non-Current Assets
477
540
13%
2,986
3,306
11%
384
449
17%
Liabilities
1,246
1,472
18%
Shareholders' Equity
1,740
1,834
5%
Total Liabilities & Equity
2,986
3,306
11%
Gearing Ratio
0.22
0.24
11%
Net Gearing Ratio
0.13
0.19
45%
In IDR Bn
Assets
Total Assets
Liabilities & Equity
Debt
32
9M 2016 Results
33
Steady Ramp-up Model
Contribution
EBITDA Margin
% to NOR
37%
13%
12%
20%
35%
21%
28%
27%
42%
45%
28%
34%
18%
15%
53%
46%
42%
49%
-257%
0%
9M 2015
9M 2016
Revenue
Mature
Developing
-4%
9M 2015
9M 2016
EBITDA
Distinct
New
9M 2015
Mature
9M 2016
Developing
Distinct
New
Increasing contribution from developing hospitals
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).
9M 2016 Results
Hospitals Ramp-Up
Manado (Operational in 2012)
In IDR Bn
% to NOR
51,537
207
22.2%
8,377
71.2%
38,242
5,299
40.3%
94
0.0%
BPJS
FY 2013
47.8%
BPJS
FY 2015
Revenue
177
beds
-0.5%
FY 2013
FY 2015
EBITDA Margin
FY 2013
FY 2015
FY 2013
OPD Visits
FY 2015
IPD Admissions
FY 2013
177
beds
FY 2015
Occupancy Rate
Makassar (Operational in 2012)
In IDR Bn
% to NOR
227
99,534
24.8%
11,628
62.7%
13.5%
102
0.0%
BPJS
FY 2013
24.4%
BPJS
FY 2015
Revenue
40,312
34.5%
4,893
179
beds
FY 2013
FY 2015
EBITDA Margin
FY 2013
FY 2015
FY 2013
OPD Visits
Proven track record of ramp-up hospitals
FY 2015
IPD Admissions
FY 2013
215
beds
FY 2015
Occupancy Rate
34
9M 2016 Results
Hospitals Ramp-Up
Palembang (Operational in 2012)
In IDR Bn
% to NOR
83,851
158
7,831
69.2%
21.1%
92
9.6
%
0.0%
BPJS
FY 2013
0.0%
BPJS
FY 2015
Revenue
4,916
45,748
43.8%
135
beds
FY 2013
FY 2015
EBITDA Margin
FY 2013
FY 2015
FY 2013
OPD Visits
FY 2015
IPD Admissions
FY 2013
135
beds
FY 2015
Occupancy Rate
TB (Operational in 2013)
In IDR Bn
% to NOR
54,445
162
3,475
21.8%
47.0%
2,863
37,020
113
16.2%
42.9%
0.0%
BPJS
FY 2014
0.2%
BPJS
FY 2015
Revenue
80
beds
FY 2014
FY 2015
EBITDA Margin
FY 2014
FY 2015
FY 2014
OPD Visits
Proven track record of ramp-up hospitals
FY 2015
IPD Admissions
FY 2014
80
beds
FY 2015
Occupancy Rate
35
9M 2016 Results
36
Comparable Margin with Peers
SILO EBITDAR Margin
SILO EBITDA Margin
% to NOR
Peers EBITDA Margin
% to NOR
% to NOR
37.8%
37.5%
39.8%
36.9%
34.7%
30.0%
31.5%
30.0%
28.0%
27.0%
23.7%
21.6%
22.2%
18.5%
18.4%
15.0%
-247.6%
Mature
Developing
9M 2015
Distinct
9M 2016
New
-256.8%
Mature
Developing
9M 2015
Distinct
New
Hospital A Hospital B Hospital C Hospital D
9M 2016
Siloam Mature and Distinct Hospitals EBITDAR Margin are comparable to the Peers EBITDA Margin
Note:
EBITDAR refers to income before depreciation, provisions for post-employment benefits, allowance for impairment in value, corporate income taxes, other expense and/or income (consisting primarily of financing income and others-net) and rental.
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).
Operational Performance
Medical Equipment Utilization
Outpatient Visits
Emergency Visits
In-patient Admissions
Bed Occupancy Rate
Average Revenue Per Patient
Manpower Availability
38
39
40
41
42
43
44
9M 2016 Results
Medical Equipment Utilization
CT-Scan
50.0%
39.4%
40.0%
30.0%
29.2%
21.5%
17.7%
20.0%
16.1%
12.6%
6.2%
10.0%
7.3%
0.0%
0.3%
0.0%
Mature
Developing
Distinct
9M 2015
9M 2016
New
Consolidated
MRI
40.0%
32.9%
30.0%
28.2%
23.2%
19.2%
19.1%
20.0%
14.5%
11.4% 10.7%
10.0%
0.0%
0.0%
0.0%
Mature
Developing
Distinct
9M 2015
9M 2016
New
Consolidated
38
9M 2016 Results
39
Outpatient Visits
1st Quarter
2nd Quarter
+20%
+22%
+9%
466,298
383,060
+36%
215,036
207,497
196,889
152,962
Mature
Developing
-
Distinct
2015
+26%
209,124
209,129
190,511
165,911
+29%
42,740
33,209
+10%
467,166
389,487
45,742
33,065
1,025
New
+38%
Consolidated
Mature
Developing
2016
Distinct
2015
3rd Quarter
-
3,171
New
2016
Nine Months Ended September 30
+20%
1,385,954
+19%
+6%
452,427
379,423
+28%
210,777
191,247
180,487
164,039
Mature
Developing
Distinct
2015
2016
1,151,970
+8%
615,407
567,887
+27%
44,232
34,897
Consolidated
-
+30%
627,403
482,912
132,714
101,171
6,171
New
+31%
Consolidated
Mature
Developing
Distinct
2015
2016
-
10,430
New
Consolidated
9M 2016 Results
40
Emergency Visits
1st Quarter
2nd Quarter
+24%
+18%
67,039
53,882
+30%
30,539
28,868
23,473
24,440
+25%
5,969
Mature
Developing
7,451
+17%
60,064
49,851
+20%
+25%
26,200
26,115
22,229
21,871
-
Distinct
2015
+20%
5,751
181
New
Consolidated
Mature
Developing
2016
-
Distinct
2015
3rd Quarter
7,183
566
New
2016
Nine Months Ended September 30
+11%
55,934
50,174
+6%
+11%
22,843
24,029
21,728
21,474
Mature
Developing
+19%
183,061
153,907
+14%
-
2016
+20%
22,371
18,692
7,737
Distinct
2015
+20%
80,768
77,826
68,143
67,072
+11%
6,972
Consolidated
1,325
New
Consolidated
Mature
Developing
Distinct
2015
2016
-
2,096
New
Consolidated
9M 2016 Results
41
In-patient Admissions
1st Quarter
2nd Quarter
+22%
44,852
36,914
+28%
+10%
+15%
22,841
18,641 17,841
16,144
Developing
-
Distinct
2015
42,396
35,690
+24%
21,156
17,481
17,029
15,904
+11%
2,929 3,253
Mature
+19%
2,757 3,267
117
New
+18%
Consolidated
Mature
Developing
2016
Distinct
2015
3rd Quarter
-
492
New
2016
Nine Months Ended September 30
+19%
127,715
107,022
+18%
+3%
40,467
34,418
+22%
20,875
15,233 17,098
14,745
Mature
Developing
3,401
Distinct
2015
2016
+25%
+10%
64,872
51,355 51,968
46,793
+32%
2,575
Consolidated
+20%
9,921
-
8,261
958
New
Consolidated
Mature
Developing
-
Distinct
2015
2016
1,567
New
Consolidated
9M 2016 Results
42
Bed Occupancy Rate
1st Quarter
74%
69%
2nd Quarter
71%
71%
63%
60%
59%
72%
58%
54%
70%
64%
67%
61%
50%
33%
26%
0%
Mature
Developing
Distinct
2015
0%
New
Consolidated
Mature
61%
56%
Distinct
2015
New
Consolidated
2016
Nine Months Ended September 30
63%
61%
Developing
2016
3rd Quarter
62%
67%
58%
60%
66%
69%
57%
45%
43%
65%
65%
60%
65%
49%
24%
0%
Mature
Developing
Distinct
2015
2016
New
0%
Consolidated
Mature
Developing
Distinct
2015
2016
New
Consolidated
9M 2016 Results
43
Average Revenue Per Patient
In-patient Average Revenue Per Patient
IDR Mn
35.0
28.6
30.0
25.0
20.0
19.7 19.0
17.8 18.9
30.7 30.1
20.4
17.9 17.9 17.7 18.5
15.8 15.2 15.7 16.8
15.0
10.0
6.6
5.0
-
-
-
Mature
Developing
FY 2013
FY 2014
Distinct
FY 2015
New
Consolidated
9M 2016
Blended Out Patient Average Revenue Per Patient
IDR Mn
1.4
1.3
1.2
1.0
1.1
0.8
0.8
0.8
0.8
0.9
0.8
0.8
0.8
1.0
1.1
0.8
0.8
0.6
0.8
0.8
0.4
0.4
0.2
-
-
-
Mature
Developing
FY 2013
FY 2014
Distinct
FY 2015
New
9M 2016
Consolidated
0.9
9M 2016 Results
44
Manpower Availability
Doctors
Nurses
% to NOR
1,699
1,503
3,564
3,244
1,209
2,628
960
735
1,948
1,576
445
421
FY 2014
FY 2015
304
151
189
FY 2011
FY 2012
FY 2013
GP
FY 2011
FY 2012
Specialist
FY 2013
FY 2014
FY 2015
Nurses
Siloa ’s rete tio of Doctors and Nurses is strong
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).
Appendices
Comparison Health Statistics
Hospitals in Indonesia
46
47
9M 2016 Results
46
Comparison Health Statistics
Hospital beds per 10,000 pops
Physician per10,000 pops
Health Profesionals per 10,000
pops
Life expectancy at birth (years)
IMR per 1,000 live birth
MMR per 100,000 live birth
% Government Expenditure
% Private Expenditure
Healthcare Spend as % of GDP
Indonesia Vietnam Malaysia Singapore South Korea
9
20
19
20
103
2
12
12
20
21
Per capita total expenditure on
healthcare (USD)
45
75
4
40
55
45
4
77
83
1
10
40
60
5
72
82
2
11
53
47
7
24
68
28
174
32
68
4
32
76
6
27
56
44
6
293
308
938
3.578
2.398
215
646
UK
28.1
USA
24.5
21.4
19.5
14.9
9.4
UK
9.1
South Korea
7.2
Vietnam
6.0
China
5.6
Singapore
Vietnam
11.9
Malaysia
4.0
India
4.0
Indonesia
2.0
Source : World Bank, WHO 2016
4.191
UK
29
25
29
28
123
79
4
14
47
53
17
116
81
2
9
84
16
9
9.146
3.311
17.1
Australia
12.0
7.0
139
83
2
6
67
33
9
USA
Malaysia
India
USA
Total Healthcare Spending as % of GDP
32.7
China
7
7
24
76
11
54
42
58
6
Australia
Singapore
China Australia
38
39
15
33
16
69
14
126
39
61
3
Physicians per 10,000 pops
South Korea
India
Indonesia
4.6
3.1
9M 2016 Results
47
Hospitals in Indonesia
No
OWNER
31 Dec 10
31 Dec 11
31 Dec 12
31 Dec 13
31 Dec 14
31 Dec 15
30 Sep 16
1
MOH
31
32
32
33
34
36
33
2
PROVINCE GOVERNMENT
85
85
89
96
98
113
119
3
MUNICIPAL GOVERNMENT
63
86
88
92
93
98
97
4
DISTRICT GOVERNMENT
403
411
444
455
463
469
477
5
ARMY / POLICE
131
134
155
159
170
170
167
6
OTHER MINISTRIES /
PUBLIC COMPANIES
79
80
79
79
79
79
75
7
PRIVATE
840
893
1,179
1,314
1,472
1,525
1,612
1,632
1,721
2,066
2,228
2,409
2,490
2,580
TOTAL
Source : Ministry of Health
49
50
The Largest Healthcare Provider
of Choice in Indonesia
Siloam is the leading private hospital network with 23 hospitals in 17 cities across Indonesia.
Siloam Hospitals Group is Indonesia’s most progressive and innovative healthcare provider that has set the benchmark for quality healthcare
services. Siloam’s medical team of more than 400 general practitioners, 1,500 specialist doctors and 7,200 nurses, allied health and support staff,
offers best-in-class healthcare services to nearly two million patient annually.
51
52
Online Appointment : www.siloamhospitals.com
Appointment and General Information, contact : 1 – 500 – 181