IHH Healthcare’s YTD 2024 earnings drop 13% YoY

Excluding exceptional items, earnings grew by 35%. 

IHH Healthcare registered a net profit of $573m (RM$1.9b) in year-to-date (YTD) 2024, dropping 13% year-on-year (YoY).

The decrease was due to a high base last year, which recorded one-off gains of $263m (RM873.0m) from the sale of International Medical University (IMU). Excluding exceptional items, net profit grew by 35%. 

Revenue and EBITDA for the period posted double-digit growth of 13% and 12%, respectively, reaching $5.3b (RM17.7b) and $1.2b (RM4.0b). The growth was driven by sustained increases in patient volumes and revenue intensity across all markets.

For Q3 2024, IHH Healthcare achieved a 73% occupancy rate, with 232,071 patient admissions across 12,220 operational beds.

In the next five years, the group intends to add approximately 4,000 new beds under its “Align-Challenge-Empower” (ACE) framework.