Malaysia · Delayed Price · Currency is MYR IHH Healthcare Berhad Earnings Call Transcripts
Fiscal Year 2026
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Revenue and EBITDA grew 16% year-over-year on a constant currency basis, with strong results in Malaysia, India, and Turkey, while Singapore is expected to recover in H2 2026. Transformation initiatives and disciplined capital allocation support a double-digit ROE target by 2028. EBITDA margin guidance remains at 22%-24%.
Fiscal Year 2025
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Q4 2025 saw record revenue and EBITDA, with double-digit growth across key markets and strong margin performance. Malaysia and India led growth, while digital transformation and brownfield expansions drive future returns. Dividend payout increased, and outlook for 2026 remains positive.
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Q3 2025 saw robust double-digit revenue and EBITDA growth on a constant currency basis, driven by higher patient volumes, day care expansion, and medical tourism, with margins maintained within guidance. Strategic milestones included the Fortis acquisition and Mount Elizabeth Orchard's reopening.
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Q2 2025 saw resilient financial results with 7% revenue and 2% EBITDA growth, and even stronger constant-currency gains, driven by increased admissions and a shift to daycare. Margins remained stable amid FX volatility and payer pressure, with robust segment performance and ongoing operational transformation.
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Q1 2025 saw robust constant currency revenue and EBITDA growth, with resilience across geographies despite FX and payer headwinds. Malaysia, Turkey, India, and Hong Kong delivered strong operational results, while cost and digital initiatives support margin stability and future growth.
Fiscal Year 2024
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Double-digit revenue and EBITDA growth in FY 2024, with strong performance across all markets and a higher dividend payout. Expansion and acquisitions drove capacity, while Malaysia faces medical inflation and payer pressure, mitigated by group diversification.
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Q3 2024 saw robust revenue and EBITDA growth, driven by higher patient volumes and strategic acquisitions, notably Island Hospital. Margin pressures in Singapore and Malaysia are expected to be temporary, with strong cash flow and medical tourism supporting future expansion.
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The acquisition of Island Hospital for MYR 3.9 billion strengthens the northern cluster, enhances medical tourism leadership, and is expected to be EPS and ROE accretive by year two. Synergies of MYR 200 million are targeted over five years, with minimal CapEx needed for expansion.
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Q2 2024 saw record revenue and double-digit growth in all key metrics, with strong performance across Malaysia, Singapore, Turkey/Europe, and India. Interim dividend was raised, and robust cash flow supports ongoing expansion, while medical tourism and specialty care remain growth drivers.