Bumrungrad Hospital Public Company Limited (SET: BH) reported solid financial results for the third quarter of 2025 (3Q25), with both revenue and profit increasing year-on-year, underpinned by rising international patient volumes and effective expense management.
| Quarter | 3Q25 | 3Q24 |
| Net Profit (Loss) Million Baht |
2,034.95 | 1,955.14 |
| Earning Per Share (Baht) |
2.56 | 2.46 |
| % Change | 4.08 | |
| 9 Months | 9M25 | 9M24 |
| Net Profit (Loss) Million Baht |
5,626.42 | 5,871.77 |
| Earning Per Share (Baht) | 7.08 | 7.39 |
| % Change | -4.18 | |
Total revenue rose 2.1% year-on-year (YoY) to THB 6,582 million, up from THB 6,447 million in 3Q24. Revenue from hospital operations grew 1.7% YoY to THB 6,492 million, driven mainly by stronger contributions from non-Thai patients.
Net profit climbed 4.1% YoY to THB 2,035 million, compared to THB 1,955 million in the same period last year, lifting the net profit margin to 30.9% from 30.3%. EBITDA increased 5.5% YoY to THB 2,731 million, with the EBITDA margin improving to 41.5% from 40.2% in 3Q24.
Revenue from non-Thai patients rose 3.5%, offsetting a 1.7% decline in Thai patient revenue. As a result, international patients accounted for 66.8% of total hospital revenue, up from 65.7% a year earlier. The strongest growth came from the Middle East (+9.9%), Myanmar (+21.2%), and Bangladesh (+31.2%) markets.
Effective cost management further supported profitability. The cost of hospital operations declined 0.9% to THB 3,061 million, reducing its ratio to 47.1% of hospital revenue. Selling expenses also dropped 10%, primarily due to lower marketing costs.
However, administrative expenses rose 8.8% to THB 890 million, mainly from higher personnel expenses, while corporate income tax increased to THB 464 million, reflecting stronger taxable income.
Overall, basic earnings per share (EPS) grew 4.1% YoY to THB 2.56, compared with THB 2.46 in 3Q24, underscoring Bumrungrad’s continued resilience and efficiency despite a soft domestic patient base.
