BH Reports a Decline in 1Q Earnings by 88% without International Business

BH reported a decline of net profit in 1Q21 by 88% as restrictions on travel and medical tourism continues to impact the international business.

Bumrungrad Hospital Public Company Limited (BH) has announced its 1Q21 consolidated financial statement through the Stock Exchange of Thailand as follows;

BH reported a net profit of 91 million baht in 1Q21, decreased 88% from a net profit of 765 million baht in 1Q20 as restrictions on travel and medical tourism continues to impact BH’s international business, especially when compared to the high base of the first half of the first quarter of the previous year, when COVID-19 was only marginally impacting the company’s performance.

 

The company reported revenues from hospital operations of 2,642 million baht, a 35.4% decrease year-over-year from 4,090 million baht in 1Q20. This was mostly due to a decrease in revenues from non-Thai patients by 54.4% offset with an increase in revenues from Thai patients by 0.5%.

As a result, the revenue contribution from Thai patients was 53.9%, whereas revenue from non-Thai patients was 46.1% for 1Q21 compared with 34.6% and 65.4%, respectively, for 1Q20.

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