{"id":88733,"date":"2026-08-06T15:55:20","date_gmt":"2026-08-06T08:55:20","guid":{"rendered":"https:\/\/primayahospital.com\/?page_id=88733"},"modified":"2026-08-06T15:58:33","modified_gmt":"2026-08-06T08:58:33","slug":"investment-highlight-3q25","status":"publish","type":"page","link":"https:\/\/primayahospital.com\/en\/investor-relation\/investment-highlight\/investment-highlight-3q25\/","title":{"rendered":"Investment Highlight 3Q25"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-page\" data-elementor-id=\"88733\" class=\"elementor elementor-88733\" 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 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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\t<nav class=\"elementor-nav-menu--dropdown elementor-nav-menu__container\" aria-hidden=\"true\">\n\t\t\t\t<ul id=\"menu-2-c4eed81\" 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-96d81fd elementor-widget elementor-widget-text-editor\" data-id=\"96d81fd\" 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<h2 style=\"text-align: center;\"><strong>Primaya Hospital Group: Margin Recovery and Expansion Momentum<\/strong><\/h2><p>\u00a0<\/p><p><strong>Primaya Hospital Group (PRAY)<\/strong> delivered a strong performance in the third quarter of 2025, marking a significant rebound in profitability and operational volumes. The quarter\u2019s results highlight the impact of ongoing cost-efficiency initiatives, improved patient mix, and continued execution of the Group\u2019s expansion strategy. Management remains confident in meeting full-year guidance, supported by strong YTD growth and newly added capacities.<\/p><p>PRAY reported <strong>3Q25 revenue of IDR 652.1 billion<\/strong>, representing <strong>+16.6% QoQ<\/strong> and <strong>+23.6% YoY<\/strong> growth, bringing <strong>9M25 revenue to IDR 1,754.1 billion<\/strong>.<\/p><p><strong>EBITDA<\/strong> surged to <strong>IDR 181.8 billion<\/strong>, up <strong>+48.3% QoQ<\/strong> and <strong>+41.7% YoY<\/strong>, resulting in a <strong>27.2% EBITDA margin<\/strong>\u2014a notable improvement from <strong>22.9% in 2Q25<\/strong> and <strong>23.2% in 3Q24<\/strong>. This margin expansion was driven by early benefits from cost-saving initiatives, including pharmacy margin optimization and inpatient service cost efficiencies, alongside margin improvements in the Group\u2019s newer hospitals and business units.<\/p><p>Reflecting growing investor confidence, <strong>PRAY\u2019s share price increased from IDR 605 at the beginning of the quarter to IDR 725 by quarter-end<\/strong>, representing a <strong>20% gain<\/strong> and outperforming the broader market trend.<\/p><p>Operationally, <strong>inpatient days rose to 101,454<\/strong>, an increase of <strong>+10.4% QoQ<\/strong> and <strong>+15.5% YoY<\/strong>, while <strong>outpatient visits reached 489,000<\/strong>, up <strong>+14.0% QoQ<\/strong> and <strong>+9.5% YoY<\/strong>. <strong>Bed occupancy improved to 50.0%<\/strong>, from <strong>45.8% in 2Q25<\/strong> and <strong>48.1% in 3Q24<\/strong>, reflecting stronger utilization rates. The improvement was mainly driven by recovering volumes from <strong>insurance payors<\/strong>, which rebounded in 3Q25 after a soft first half, and continued growth from the <strong>corporate payor<\/strong> segment.<\/p><p>On the expansion front, <strong>Primaya Hospital Kelapa Gading<\/strong> commenced operations with its <strong>Soft Launch on 17 October 2025<\/strong>. The facility is expected to ramp up throughout the remainder of 2025 and contribute meaningfully in 2026. Construction of <strong>Primaya Hospital BSD<\/strong> continues on schedule, with operations targeted for <strong>2Q26<\/strong>.<\/p><p>During the quarter, PRAY also <strong>completed several strategic acquisitions<\/strong>, including <strong>PT Lynas Medical<\/strong>, a medical distributor expected to generate strong synergies with the hospital network, and\u2014through <strong>PT Jalamas Putra Rejeki<\/strong>\u2014the acquisitions of <strong>Ukrida Hospital<\/strong> (West Jakarta) and <strong>FMC Hospital<\/strong> (Bogor). With these additions, <strong>Primaya Hospital Group now operates 20 hospitals nationwide<\/strong>, reinforcing its commitment to delivering high-quality healthcare across Indonesia.<\/p><p>From a regulatory and market standpoint, there were <strong>no significant BPJS policy changes<\/strong> during the quarter. The <strong>private insurance segment<\/strong> showed strong recovery, particularly in inpatient volumes, supported by ongoing collaboration and relationship strengthening with insurance partners. Broader macroeconomic conditions remained stable, with healthcare demand showing resilience amid steady consumer confidence and gradual normalization of insurance claims behavior.<\/p><p>As of September 2025, <strong>capex realization stood at 58.5%<\/strong> of the Group\u2019s IDR 900 billion full-year budget, with full utilization expected by year-end. Management reaffirmed its <strong>FY25 guidance<\/strong>, remaining <strong>on track to achieve 15% revenue growth and 20% EBITDA growth<\/strong>, supported by <strong>13.4% revenue growth YTD<\/strong> and <strong>20.5% EBITDA growth YTD<\/strong>. PRAY anticipates a <strong>strong finish in 4Q25<\/strong>, underpinned by continued inpatient recovery, cost-efficiency momentum, and initial contributions from the Group\u2019s latest hospital openings and acquisitions.<\/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<section class=\"elementor-section elementor-top-section elementor-element elementor-element-c599a5f elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"c599a5f\" 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-98f9a12\" data-id=\"98f9a12\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\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: Margin Recovery and Expansion Momentum \u00a0 Primaya Hospital Group (PRAY) delivered a strong performance in the third quarter of 2025, marking a [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"parent":85112,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"class_list":["post-88733","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/primayahospital.com\/en\/wp-json\/wp\/v2\/pages\/88733","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\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/primayahospital.com\/en\/wp-json\/wp\/v2\/comments?post=88733"}],"version-history":[{"count":6,"href":"https:\/\/primayahospital.com\/en\/wp-json\/wp\/v2\/pages\/88733\/revisions"}],"predecessor-version":[{"id":88743,"href":"https:\/\/primayahospital.com\/en\/wp-json\/wp\/v2\/pages\/88733\/revisions\/88743"}],"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=88733"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}