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The performance of the hospital network owned by Lippo Group, PT Siloam International Hospitals Tbk, deteriorated in the first half of 2022. This revenue decline also resulted in a decrease in net profit.
This emitter, with the code SILO, recorded revenue of Rp4.41 trillion in the first half of 2022. This revenue decreased slightly by 4.9% year-on-year (yoy) from Rp4.64 trillion in the same period last year.
Not only that, but the cost of revenue also increased slightly by 2% (yoy) to Rp2.91 trillion. As a result, gross profit fell by 16% (yoy) to Rp1.5 trillion.
The company's net profit also plummeted by 30.5% (yoy) to Rp210.3 billion. In the same period last year, Siloam's net profit was recorded at Rp302.69 billion.
This decline in net profit follows the trend of other hospital emitters. PT Sarana Meditama Metropolitan Tbk (SAME), owned by Emtek Group, even recorded a net loss of Rp24.77 billion in the same period.
"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."
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