{"id":88712,"date":"2025-05-23T15:46:35","date_gmt":"2025-05-23T08:46:35","guid":{"rendered":"https:\/\/primayahospital.com\/investor-relation\/investment-highlight-1q25\/"},"modified":"2026-08-06T15:42:53","modified_gmt":"2026-08-06T08:42:53","slug":"investment-highlight-1q25","status":"publish","type":"page","link":"https:\/\/primayahospital.com\/en\/investor-relation\/investment-highlight\/investment-highlight-1q25\/","title":{"rendered":"Primaya Hospital Group: Focused Execution Amidst a Shifting Landscape"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-page\" data-elementor-id=\"88712\" class=\"elementor elementor-88712\" data-elementor-post-type=\"page\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-30a50fc elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"30a50fc\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-1ab67bf\" data-id=\"1ab67bf\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-b664ccf elementor-align-center elementor-widget elementor-widget-breadcrumbs\" data-id=\"b664ccf\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"breadcrumbs.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<p id=\"breadcrumbs\"><span><span><a href=\"https:\/\/primayahospital.com\/en\/\">Home<\/a><\/span><\/span><\/p>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-45e9d676 elementor-section-full_width elementor-section-height-min-height elementor-section-items-stretch elementor-section-height-default\" data-id=\"45e9d676\" data-element_type=\"section\" data-e-type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-top-column elementor-element elementor-element-74b3c428\" data-id=\"74b3c428\" data-element_type=\"column\" data-e-type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-c452092 elementor-nav-menu__align-start elementor-nav-menu--dropdown-mobile elementor-nav-menu__text-align-center elementor-nav-menu--toggle elementor-nav-menu--burger elementor-widget elementor-widget-nav-menu\" data-id=\"c452092\" data-element_type=\"widget\" data-e-type=\"widget\" data-settings=\"{&quot;layout&quot;:&quot;vertical&quot;,&quot;submenu_icon&quot;:{&quot;value&quot;:&quot;&lt;i class=\\&quot;fas fa-chevron-down\\&quot; aria-hidden=\\&quot;true\\&quot;&gt;&lt;\\\/i&gt;&quot;,&quot;library&quot;:&quot;fa-solid&quot;},&quot;toggle&quot;:&quot;burger&quot;}\" data-widget_type=\"nav-menu.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<nav aria-label=\"Menu\" class=\"elementor-nav-menu--main elementor-nav-menu__container elementor-nav-menu--layout-vertical e--pointer-background e--animation-fade\">\n\t\t\t\t<ul id=\"menu-1-c452092\" class=\"elementor-nav-menu sm-vertical\"><li class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-38521\"><a href=\"https:\/\/primayahospital.com\/en\/investor-relation\/overview\/\" class=\"elementor-item\">Overview<\/a><\/li>\n<li class=\"menu-item menu-item-type-custom menu-item-object-custom menu-item-88820\"><a href=\"https:\/\/primayahospital.com\/en\/investor-relation\/investment-highlight\/\" class=\"elementor-item\">Investment Highlight<\/a><\/li>\n<li class=\"menu-item menu-item-type-custom menu-item-object-custom menu-item-has-children menu-item-67708\"><a href=\"#\" class=\"elementor-item elementor-item-anchor\">Shareholder Information<\/a>\n<ul class=\"sub-menu elementor-nav-menu--dropdown\">\n\t<li class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-77126\"><a href=\"https:\/\/primayahospital.com\/en\/investor-relation\/shareholder-information\/analyst-coverage\/\" class=\"elementor-sub-item\">Analyst Coverage<\/a><\/li>\n\t<li class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-67717\"><a href=\"https:\/\/primayahospital.com\/en\/investor-relation\/shareholder-information\/rups\/\" class=\"elementor-sub-item\">RUPS<\/a><\/li>\n\t<li class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-67716\"><a href=\"https:\/\/primayahospital.com\/en\/investor-relation\/shareholder-information\/public-expose\/\" class=\"elementor-sub-item\">Public Expose<\/a><\/li>\n\t<li class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-67715\"><a href=\"https:\/\/primayahospital.com\/en\/investor-relation\/shareholder-information\/company-profile\/\" class=\"elementor-sub-item\">Company Profile<\/a><\/li>\n\t<li class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-67718\"><a href=\"https:\/\/primayahospital.com\/en\/investor-relation\/shareholder-information\/affiliate-transactions\/\" class=\"elementor-sub-item\">Affiliate Transactions\u200b<\/a><\/li>\n<\/ul>\n<\/li>\n<li class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-38523\"><a href=\"https:\/\/primayahospital.com\/en\/investor-relation\/financial-statements\/\" class=\"elementor-item\">Financial Statements<\/a><\/li>\n<li class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-38741\"><a href=\"https:\/\/primayahospital.com\/en\/investor-relation\/annual-report\/\" class=\"elementor-item\">Annual Report<\/a><\/li>\n<li class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-38524\"><a href=\"https:\/\/primayahospital.com\/en\/investor-relation\/prospektus\/\" class=\"elementor-item\">Prospektus<\/a><\/li>\n<li class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-38525\"><a href=\"https:\/\/primayahospital.com\/en\/investor-relation\/csr\/\" class=\"elementor-item\">CSR<\/a><\/li>\n<li class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-38526\"><a href=\"https:\/\/primayahospital.com\/en\/investor-relation\/leadership-profile\/\" class=\"elementor-item\">Leadership Profile<\/a><\/li>\n<li class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-38527\"><a href=\"https:\/\/primayahospital.com\/en\/investor-relation\/group-structure\/\" class=\"elementor-item\">Group Structure<\/a><\/li>\n<li class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-38528\"><a href=\"https:\/\/primayahospital.com\/en\/investor-relation\/organizational-structure\/\" class=\"elementor-item\">Organizational Structure<\/a><\/li>\n<li class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-has-children menu-item-38529\"><a href=\"https:\/\/primayahospital.com\/en\/investor-relation\/corporate-governance\/\" class=\"elementor-item\">Corporate Governance<\/a>\n<ul class=\"sub-menu elementor-nav-menu--dropdown\">\n\t<li class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-38530\"><a href=\"https:\/\/primayahospital.com\/en\/investor-relation\/corporate-governance\/charter-of-audit-committee\/\" class=\"elementor-sub-item\">Charter of Audit Committee<\/a><\/li>\n\t<li class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-38531\"><a href=\"https:\/\/primayahospital.com\/en\/investor-relation\/corporate-governance\/charter-of-nomination-and-remuneration-committee\/\" class=\"elementor-sub-item\">Charter of Nomination and Remuneration Committee<\/a><\/li>\n<\/ul>\n<\/li>\n<\/ul>\t\t\t<\/nav>\n\t\t\t\t\t<div class=\"elementor-menu-toggle\" role=\"button\" tabindex=\"0\" aria-label=\"Menu Toggle\" aria-expanded=\"false\">\n\t\t\t<i aria-hidden=\"true\" role=\"presentation\" class=\"elementor-menu-toggle__icon--open eicon-menu-bar\"><\/i><i aria-hidden=\"true\" role=\"presentation\" class=\"elementor-menu-toggle__icon--close eicon-close\"><\/i>\t\t<\/div>\n\t\t\t\t\t<nav class=\"elementor-nav-menu--dropdown elementor-nav-menu__container\" aria-hidden=\"true\">\n\t\t\t\t<ul id=\"menu-2-c452092\" class=\"elementor-nav-menu sm-vertical\"><li class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-38521\"><a href=\"https:\/\/primayahospital.com\/en\/investor-relation\/overview\/\" class=\"elementor-item\" tabindex=\"-1\">Overview<\/a><\/li>\n<li class=\"menu-item menu-item-type-custom menu-item-object-custom menu-item-88820\"><a href=\"https:\/\/primayahospital.com\/en\/investor-relation\/investment-highlight\/\" class=\"elementor-item\" tabindex=\"-1\">Investment Highlight<\/a><\/li>\n<li class=\"menu-item menu-item-type-custom menu-item-object-custom menu-item-has-children menu-item-67708\"><a href=\"#\" class=\"elementor-item elementor-item-anchor\" tabindex=\"-1\">Shareholder Information<\/a>\n<ul class=\"sub-menu elementor-nav-menu--dropdown\">\n\t<li class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-77126\"><a href=\"https:\/\/primayahospital.com\/en\/investor-relation\/shareholder-information\/analyst-coverage\/\" class=\"elementor-sub-item\" tabindex=\"-1\">Analyst Coverage<\/a><\/li>\n\t<li class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-67717\"><a href=\"https:\/\/primayahospital.com\/en\/investor-relation\/shareholder-information\/rups\/\" class=\"elementor-sub-item\" tabindex=\"-1\">RUPS<\/a><\/li>\n\t<li class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-67716\"><a href=\"https:\/\/primayahospital.com\/en\/investor-relation\/shareholder-information\/public-expose\/\" class=\"elementor-sub-item\" tabindex=\"-1\">Public Expose<\/a><\/li>\n\t<li class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-67715\"><a href=\"https:\/\/primayahospital.com\/en\/investor-relation\/shareholder-information\/company-profile\/\" class=\"elementor-sub-item\" tabindex=\"-1\">Company Profile<\/a><\/li>\n\t<li class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-67718\"><a href=\"https:\/\/primayahospital.com\/en\/investor-relation\/shareholder-information\/affiliate-transactions\/\" class=\"elementor-sub-item\" tabindex=\"-1\">Affiliate Transactions\u200b<\/a><\/li>\n<\/ul>\n<\/li>\n<li class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-38523\"><a href=\"https:\/\/primayahospital.com\/en\/investor-relation\/financial-statements\/\" class=\"elementor-item\" tabindex=\"-1\">Financial Statements<\/a><\/li>\n<li class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-38741\"><a href=\"https:\/\/primayahospital.com\/en\/investor-relation\/annual-report\/\" class=\"elementor-item\" tabindex=\"-1\">Annual Report<\/a><\/li>\n<li class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-38524\"><a href=\"https:\/\/primayahospital.com\/en\/investor-relation\/prospektus\/\" class=\"elementor-item\" tabindex=\"-1\">Prospektus<\/a><\/li>\n<li class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-38525\"><a href=\"https:\/\/primayahospital.com\/en\/investor-relation\/csr\/\" class=\"elementor-item\" tabindex=\"-1\">CSR<\/a><\/li>\n<li class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-38526\"><a href=\"https:\/\/primayahospital.com\/en\/investor-relation\/leadership-profile\/\" class=\"elementor-item\" tabindex=\"-1\">Leadership Profile<\/a><\/li>\n<li class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-38527\"><a href=\"https:\/\/primayahospital.com\/en\/investor-relation\/group-structure\/\" class=\"elementor-item\" tabindex=\"-1\">Group Structure<\/a><\/li>\n<li class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-38528\"><a href=\"https:\/\/primayahospital.com\/en\/investor-relation\/organizational-structure\/\" class=\"elementor-item\" tabindex=\"-1\">Organizational Structure<\/a><\/li>\n<li class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-has-children menu-item-38529\"><a href=\"https:\/\/primayahospital.com\/en\/investor-relation\/corporate-governance\/\" class=\"elementor-item\" tabindex=\"-1\">Corporate Governance<\/a>\n<ul class=\"sub-menu elementor-nav-menu--dropdown\">\n\t<li class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-38530\"><a href=\"https:\/\/primayahospital.com\/en\/investor-relation\/corporate-governance\/charter-of-audit-committee\/\" class=\"elementor-sub-item\" tabindex=\"-1\">Charter of Audit Committee<\/a><\/li>\n\t<li class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-38531\"><a href=\"https:\/\/primayahospital.com\/en\/investor-relation\/corporate-governance\/charter-of-nomination-and-remuneration-committee\/\" class=\"elementor-sub-item\" tabindex=\"-1\">Charter of Nomination and Remuneration Committee<\/a><\/li>\n<\/ul>\n<\/li>\n<\/ul>\t\t\t<\/nav>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-66 elementor-top-column elementor-element elementor-element-7bd1c7fa\" data-id=\"7bd1c7fa\" data-element_type=\"column\" data-e-type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-af008ee elementor-widget elementor-widget-heading\" data-id=\"af008ee\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Primaya Hospital Group: Focused Execution Amidst a Shifting Landscape<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-187cb93 elementor-widget elementor-widget-text-editor\" data-id=\"187cb93\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">Primaya Hospital Group (PRAY) delivered a steady performance in the first quarter of 2025, navigating shifting patient dynamics and external pressures while maintaining confidence in its full-year targets.<\/span><\/p><p><span style=\"font-weight: 400;\">PRAY reported <\/span><b>1Q25 revenue of IDR 539.9 billion<\/b><span style=\"font-weight: 400;\">, representing a <\/span><b>5% increase year-on-year<\/b><span style=\"font-weight: 400;\">, though slightly down by <\/span><b>3% compared to 4Q24<\/b><span style=\"font-weight: 400;\"> due to seasonal factors. <\/span><b>EBITDA reached IDR 126.9 billion<\/b><span style=\"font-weight: 400;\">, relatively flat year-on-year but down 7% quarter-on-quarter, reflecting temporary margin pressure from evolving patient mix and lower inpatient utilization. <\/span><b>EBITDA margin stood at 23.4%<\/b><span style=\"font-weight: 400;\">, down from 24.6% in the previous quarter and 24.9% in 1Q24.<\/span><\/p><p><span style=\"font-weight: 400;\">The quarter saw a <\/span><b>notable shift in patient mix<\/b><span style=\"font-weight: 400;\">, with <\/span><b>outpatient revenue increasing by 28% YoY<\/b><span style=\"font-weight: 400;\">, while <\/span><b>inpatient revenue declined by 5% YoY<\/b><span style=\"font-weight: 400;\">. This was driven largely by external regulatory and procedural changes that affected how certain cases were treated and classified. Correspondingly, <\/span><b>inpatient days declined by 14% YoY<\/b><span style=\"font-weight: 400;\">, and <\/span><b>bed occupancy fell to 43%<\/b><span style=\"font-weight: 400;\"> from 56% last year, further impacted by the addition of over <\/span><b>250 new beds<\/b><span style=\"font-weight: 400;\"> in the past year.<\/span><\/p><p><span style=\"font-weight: 400;\">Despite these operational shifts, PRAY continues to advance its strategic agenda. The construction of <\/span><b>Primaya Hospital Kelapa Gading<\/b><span style=\"font-weight: 400;\"> is progressing well, though its opening is now expected in <\/span><b>July 2025<\/b><span style=\"font-weight: 400;\">. Meanwhile, <\/span><b>Primaya Hospital BSD<\/b><span style=\"font-weight: 400;\"> remains on track for launch toward the <\/span><b>end of the year<\/b><span style=\"font-weight: 400;\">. These facilities are expected to enhance long-term capacity and margin profile, supporting the company\u2019s vision of delivering comprehensive, high-quality healthcare services.<\/span><\/p><p><span style=\"font-weight: 400;\">From a regulatory and market standpoint, PRAY has responded proactively to industry changes. The shift in OP-IP mix partially reflects <\/span><b>ongoing BPJS policy adjustments<\/b><span style=\"font-weight: 400;\">, including stricter referral and treatment classifications. The Group has prepared extensively for the <\/span><b>KRIS implementation<\/b><span style=\"font-weight: 400;\">, with full compliance across all hospitals since the beginning of the year. Encouragingly, relationships with <\/span><b>private insurance partners have shown positive momentum<\/b><span style=\"font-weight: 400;\">, improving over last year\u2019s levels.<\/span><\/p><p><span style=\"font-weight: 400;\">Looking forward, PRAY remains <\/span><b>committed to its FY25 guidance<\/b><span style=\"font-weight: 400;\">, including revenue, EBITDA margin, and volume targets. However, in light of <\/span><b>increasing macroeconomic uncertainty<\/b><span style=\"font-weight: 400;\">, the company is exercising financial prudence by <\/span><b>lowering its FY25 capex projection from IDR 900 billion to IDR 750 billion<\/b><span style=\"font-weight: 400;\">, ensuring continued progress while maintaining a disciplined investment approach.<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Primaya Hospital Group: Focused Execution Amidst a Shifting Landscape Primaya Hospital Group (PRAY) delivered a steady performance in the first quarter of 2025, navigating shifting [&hellip;]<\/p>\n","protected":false},"author":44923,"featured_media":0,"parent":85112,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"class_list":["post-88712","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/primayahospital.com\/en\/wp-json\/wp\/v2\/pages\/88712","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/primayahospital.com\/en\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/primayahospital.com\/en\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/primayahospital.com\/en\/wp-json\/wp\/v2\/users\/44923"}],"replies":[{"embeddable":true,"href":"https:\/\/primayahospital.com\/en\/wp-json\/wp\/v2\/comments?post=88712"}],"version-history":[{"count":4,"href":"https:\/\/primayahospital.com\/en\/wp-json\/wp\/v2\/pages\/88712\/revisions"}],"predecessor-version":[{"id":88717,"href":"https:\/\/primayahospital.com\/en\/wp-json\/wp\/v2\/pages\/88712\/revisions\/88717"}],"up":[{"embeddable":true,"href":"https:\/\/primayahospital.com\/en\/wp-json\/wp\/v2\/pages\/85112"}],"wp:attachment":[{"href":"https:\/\/primayahospital.com\/en\/wp-json\/wp\/v2\/media?parent=88712"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}