Surge in Foreign Patients Lead Bumrungrad Hospital Pcl to Book 120% Increase in Earnings

Bumrungrad Hospital Public Company Limited (SET: BH) has announced its 1Q23 consolidated financial statement through the Stock Exchange of Thailand as follows;

Year 1Q23 1Q22
Net Profit (Loss)
Million Baht
1,583.37 725.04
Earning Per Share
1.9900 0.9100
% Change 118.38

BH reported a net profit of Baht 1,583 million in 1Q23, increased 118% from a net profit of Baht 725 million in 1Q22 with Net profit margin at 26.0% in 1Q23, compared to 17.5% in 1Q22.

The company reported total revenues in 1Q23 of Baht 6,091 million, a 46.7% increase from Baht 4,152 million in 1Q22.

Compared with 1Q19, in order to gauge the performance of the current quarter to pre-covid levels, 1Q23 Total revenues and Net profit increased by 29.6% and 46.4%, respectively, from 1Q19. Net profit margin rose to 26.0% in 1Q23, compared to 23.0% in 1Q19.

BH reported revenues from hospital operations of Baht 6,050 million, a 47.5% increase year-over-year from Baht 4,102 million in 1Q22. This was mostly due to an increase in revenues from non-Thai patients and Thai patients by 78.0% and 9.5%, respectively. As a result, the revenue contribution from Thai patients was 33.1%, whereas revenue from non-Thai patients was 66.9% for 1Q23 compared with 44.5% and 55.5%, respectively, for 1Q22.

The company reported Cost of hospital operations (including Depreciation and amortization) of Baht 3,150 million for 1Q23, resulting in a 31.6% increase year-over-year from Baht 2,394 million in 1Q22.