Siloam Hospitals, Hospital Owned By Conglomerate Mochtar Riady Earns Revenue Of IDR 5.9 Trillion In The Third Quarter Of 2021

JAKARTA - PT Siloam International Hospitals Tbk (SILO) recorded a revenue growth of 46.7 percent in the third quarter of 2021. This hospital issuer from the Lippo group also managed to turn a net loss position into a profit in this period.

In Siloam's financial report published on the Indonesia Stock Exchange (IDX) website, quoted on Tuesday, the company owned by the Mochtar Riady conglomerate recorded revenue of Rp5.9 trillion in the third quarter of 2021. This achievement grew 46.7 percent compared to the same period last year.

EBITDA in the 9 months of 2021 was recorded at IDR 1.5 trillion, an increase of 107.2 percent from the previous year. EBITDA Margin in the 9-month period this year increased to 26.2 percent compared to the same period last year of 18.5 percent.

Thus, the net profit until the third quarter of 2021 was IDR 553 billion compared to a net loss of IDR 43 billion in the same period last year. In the third quarter of 2021, Siloam posted a net profit of IDR 251 billion, an increase of 65 percent from the previous quarter.

Siloam President Director Darjoto Setyawan said that Siloam is proud to stand side by side with the government, business community, and all Siloam employees to fight COVID-19 together.

"We ensure that no costs are reduced to keep all our employees and patients safe and continue to provide health services even when the pandemic is peaking. With the decline in COVID-19 cases, Siloam recorded an increase in the base case business," explained Darjoto.

On the other hand, Siloam continues to develop a mobile application called MySiloam. This application continues to improve efficiency and improve patient experience with online services that complement offline services at Siloam hospitals.

Patients can use the MySiloam app as a virtual assistant when they visit Siloam hospitals. This feature simplifies the patient journey by enabling contactless check-in and virtual queues, enhancing the patient experience.

Siloam's management believes that technologies such as artificial intelligence (AI) will play an important role in healthcare in the future. This technology can provide precise information by processing large amounts of data and can find patterns that may not be obvious from human observation.

AI technology can be used to simplify the patient referral process and become an important tool to assist doctors in making diagnoses with high accuracy and efficiency. SILO is making a strategic investment in a technology platform to perform medical diagnostics with the help of Artificial Intelligence called Prixa.ai.

Siloam Hospitals currently manages and operates 40 hospitals, consisting of 14 hospitals in the Greater Jakarta area and 26 hospitals spread across the islands of Java, Sumatra, Kalimantan, Sulawesi, Bali and Nusa Tenggara.