CEO'S MESSAGE
Dr. Tan See Leng
Managing Director and
Chief Executive Officer
IHH Healthcare ("IHH") has always adopted a long-term view on delivering growth and creating long-term value in its business operations across the markets in which it operates. In 2018, we have been able to advance our work in sustainability and in the process, fortify our Company's competitive advantage. Our ability to react to key market movements in response to geopolitical changes also puts us in a good position to safeguard the interest and returns of our stakeholders.

STRATEGIC MILESTONES IN 2018

IHH has grown significantly, while strategically investing to strengthen our position. The past year has been brisk for the business with new acquisitions in the region, positioning us for sustained growth. We continue to see growing demand for quality healthcare services, which is why we place emphasis on investing in our people and in the business.

I am pleased to report that we delivered resilient performance amidst cautious global macroeconomic growth, reflecting the underlying strength of our business and the distinct progress in executing on our strategy as we position for growth in the year ahead. For the full year ended 31 December 2018, the Group's revenue increased 3% YoY to RM11.5 billion. Earnings before interest, tax, depreciation, amortisation, exchange differences and other non-operational items ("EBITDA") increased 9% YoY to RM2.5 billion. This came on the back of sustained organic growth at existing hospitals and the continuous ramp up of the two hospitals opened in March 2017. Headline profit after tax and minority interest ("PATMI") was RM627.7 million, compared to RM970.0 million in the previous corresponding year. PATMI excluding exceptional items increased 73% YoY to RM1.0 billion due to stronger operational performance and boosted by foreign exchange gains from the US Dollar denominated cash balances.

Source Date: 31 March 2019