Praram 9 Hospital Public Company Limited (SET: PR9) has delivered a robust financial performance for the 2025 fiscal year, a successful strategic pivot toward high-intensity medical cases and a rapidly expanding international footprint.
The company reported a net profit of THB 822.7 million, representing a 15.4% increase from the THB 712.7 million earned in 2024. Meanwhile, total revenues reached THB 5.34 billion, up 13.9% year-over-year from THB 4.69 billion.
The hospital’s growth engine was undeniably its international segment, which saw revenue skyrocket by 73.0%. This surge was primarily driven by “Fly-in” patients from the Middle East seeking specialized treatment for complex diseases.
Consequently, In-patient (IPD) revenue jumped 26.8% to THB 2.41 billion, as the hospital treated more high-intensity cases that command higher average revenue per patient day. Thai patient revenue saw a more modest increase of 1.7%.
PR9 also successfully improved its operational efficiency, reducing the cost-of-hospital-operations-to-revenue ratio from 65.7% to 63.4% through better resource optimization and economies of scale. This efficiency helped push the gross profit margin to 36.6%.
However, Selling and Administrative (SG&A) expenses rose by 23.3% to THB 1.03 billion (19.3% of revenue). This was driven by increased marketing efforts and an adjustment in employee benefit reserves triggered by rising gold prices, which are used for long-tenured employee rewards. Furthermore, the hospital recognized asset write-offs related to renovations designed to expand capacity for future patient growth
The Board has approved a dividend payment of THB 0.3 per share, with an Ex-Dividend (XD) date of April 30, 2026, and a payment date of May 22, 2026.
