Hermina Hospital Earns IDR 4.42 Trillion Revenue In 2020, Will Have 44 Hospitals By The End Of 2021

Hermina Hospital. (Photo: Doc. Hermina Hospitals)

JAKARTA - PT Medikaloka Hermina Tbk, the manager of Hermina Hospital or Hermina Hospitals, today, Wednesday, June 2, held an electronic General Meeting of Shareholders (e-GMS) to report on the company's performance in the financial audit report period ending December 31, 2020.

Hermina Hospitals recorded a net income of Rp4.42 trillion, and profit before interest, tax, depreciation and amortization (EBITDA) of Rp1.39 trillion. In addition, profit after tax and non-controlling interests (PATMI) reached Rp473.2 billion.

"This good performance has exceeded the target that has been communicated to the public," said the President Director of Hermina Hospitals, Hasmoro.

Despite being in a challenging situation, he said, the company managed to adapt and play an active role in the national effort to tackle the COVID-19 pandemic. According to him, all hospitals under Hermina are able to receive and treat COVID-19 patients by allocating extra capacity.

Hermina also ended 2020 with a good liquidity position with total cash of Rp985.7 billion, an increase from Rp593.3 billion in 2019. The company's balance sheet is in a very healthy position with a net debt to EBITDA ratio of 0.4x.

"Another important achievement in 2020 was the issuance of Hermina's initial bond in September 2020 with an AA- rating, which aims to strengthen the financial structure, diversify funding sources, and meet the company's capital expenditure/working capital needs. This is a reflection of optimism by investors on the resilience of Hermina's business," he explained.

In terms of business development, Hermina recently opened the 42nd Hermina Hospital in Cibitung, Bekasi. Hermina is also currently building hospitals in Cilegon, Banten and Soreang, West Java.

"Hermina is expected to have 44 hospitals and 5,400 beds by the end of 2021," he concluded.