Siloam Hospitals, Hospital Owned By Mochtar Riady Conglomerate, Distributes IDR 226 Billion Dividend

Siloam Hospital Building Jakarta. (Photo: Doc. Siloam Hospitals)

JAKARTA - PT Siloam International Hospitals Tbk (SILO) managed to book a profit in the midst of the COVID-19 pandemic in 2020. The Company also committed to distributing dividends to shareholders worth IDR 226 billion.

Head of Investor Relations of Siloam Hospitals, Joel Ellis explained that the distribution of dividends to shareholders is part of the company's strategy to focus on consolidation.

Through the approval of the GMS, Siloam Hospitals will pay a regular dividend of IDR 56 billion, representing a dividend payout ratio of 45 percent of net profit. In addition, the general meeting of shareholders (GMS) also approved the payment of special dividends worth IDR 170 billion as a form of appreciation for the success of the company's business transformation.

Thus, the total dividend that will be distributed by Lippo Group issuers owned by Mochtar Riady conglomerate reaches IDR 226 billion for 2020. The dividend amount will be determined in the GMS resolution on April 28, 2021.

For information, in the last year, Siloam hospital's management issuer managed to record a profit in line with the increase in revenue and decrease in expenses. It is mentioned that the company booked revenues worth IDR 7.11 trillion in the last year. The realization increased 1.31 percent year-on-year (YoY) compared to IDR 7.01 trillion in 2019.

The increase in revenue also lifted the company's profit. SILO posted a profit attributable to owners of the parent entity worth IDR 116.16 billion in 2020 or reversed from a loss of IDR 338.77 billion in 2019.

With this achievement, the company's basic earnings per share will be IDR 71.52 in 2020, reversing from a loss per share of IDR 208.38 in 2019. Judging from the contribution of income revenue from outpatients grew 7.85 percent YoY to IDR 3.15 trillion in 2020 from IDR 2.92 trillion previously.

Meanwhile, the revenue from inpatient contracted 3.35 percent YoY to IDR 3.95 trillion from IDR 4.09 trillion previously. Furthermore, total assets from Siloam Hospitals grew 8.86 percent YoY to IDR 8.42 trillion at the end of 2020.

In detail, liabilities rose 37.35 percent YoY to IDR 2.40 trillion and equity fell 22.26 percent YoY to IDR 6.01 trillion.

President Director of Siloam Hospitals, Ketut Budi Wijaya said that the company continues to focus on management costs throughout 2020 as part of their long-term efficiency plan. In addition to material expenditures for COVID-19, the percentage of Siloam Hospitals' material costs to net operating income was 39.1 percent in 2020 compared to 40.5 percent in 2019.

Siloam Hospitals' total operational expenditure outside of COVID-19 related expenditures was recorded at 34.8 percent of net operating income in 2020, down from 37.4 percent in 2019.

Strong EBITDA growth and the company's net profit resulted in phenomenal cash flow growth. Operating cash flow increased by IDR 1.34 trillion in 2020, jumping 105 percent from IDR 652 billion in 2019.

Free cash flow grew by IDR 1.1 trillion, an increase of 762 percent compared to the previous IDR 122 billion.