{"id":88744,"date":"2026-08-06T15:59:40","date_gmt":"2026-08-06T08:59:40","guid":{"rendered":"https:\/\/primayahospital.com\/?page_id=88744"},"modified":"2026-08-07T13:54:46","modified_gmt":"2026-08-07T06:54:46","slug":"investment-highlight-1q26","status":"publish","type":"page","link":"https:\/\/primayahospital.com\/en\/investor-relation\/investment-highlight\/investment-highlight-1q26\/","title":{"rendered":"Investment Highlight 1Q26"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-page\" data-elementor-id=\"88744\" class=\"elementor elementor-88744\" 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-c4eed81 elementor-nav-menu__align-start elementor-nav-menu--dropdown-none elementor-widget elementor-widget-nav-menu\" data-id=\"c4eed81\" 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;}}\" 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-none\">\n\t\t\t\t<ul id=\"menu-1-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\">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\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;\"><b>PRAY 1Q26 Result Review:\u00a0<\/b><\/h2><h2 style=\"text-align: center;\"><b>Strong Volume-Led Growth with Temporary Margin Normalization<\/b><\/h2><p>\u00a0<\/p><p><span style=\"font-weight: 400;\">Primaya Hospital Group (PRAY) delivered a solid start to 2026, with strong revenue growth supported by inpatient volume expansion and contributions from new hospitals and business units. While margins moderated sequentially following a high base in 4Q25, overall performance remains in line with internal expectations, and management remains confident in achieving its full-year targets.<\/span><\/p><p><span style=\"font-weight: 400;\">Revenue performance remained strong in 1Q26, with revenue growing by +27.1% YoY, although declining slightly by -2.9% QoQ due to seasonal factors following a particularly strong 4Q25. Growth was primarily driven by the inpatient segment, where IP revenue increased by +34% YoY, significantly outpacing outpatient growth of +8% YoY. The inpatient performance was largely volume-driven, supported by a +23% YoY increase in inpatient days and a higher number of procedures conducted across the network.<\/span><\/p><p><span style=\"font-weight: 400;\">Outpatient visits also continued to show healthy momentum, growing by +22% YoY, reflecting sustained patient demand across both segments. Overall, 1Q26 performance indicates continued normalization and strengthening of patient activity following prior periods of patient mix volatility.<\/span><\/p><p><span style=\"font-weight: 400;\">EBITDA grew by +22.0% YoY, broadly in line with revenue growth, though declining by -15.3% QoQ following an elevated base in the previous quarter. EBITDA margin stood at 21.9%, compared to 22.8% in 1Q25 and 25.1% in 4Q25.<\/span><\/p><p><span style=\"font-weight: 400;\">The sequential margin normalization reflects several factors, including the exceptionally strong margin achieved in 4Q25, ramp-up effects from newly consolidated hospitals and business units, as well as evolving patient and payor mix during the quarter. In addition, the company recorded adjustments to salary expenses following increases in the national minimum wage (UMR) and recalculation of employee benefit expenses. Despite these factors, margins remain within a healthy range and continue to reflect PRAY\u2019s ongoing growth and expansion phase.<\/span><\/p><p><span style=\"font-weight: 400;\">Operational indicators also remained encouraging during the quarter. Inpatient days increased by +23% YoY, outpatient visits grew by +22% YoY, and Bed Occupancy Rate (BOR) improved from 43% last year to 45% in 1Q26. Total bed capacity also expanded from 2,472 beds last year to approximately 3,000 beds currently, reflecting the company\u2019s continued expansion initiatives and gradual utilization ramp-up across the network.<\/span><\/p><p><span style=\"font-weight: 400;\">Performance in 1Q26 was further supported by stronger contributions from non-BPJS segments, including out-of-pocket, corporate, and private insurance patients, contributing positively to both revenue growth and patient mix quality. In addition, recently added hospitals and business units \u2014 including Primaya Hospital Kelapa Gading, Ukrida Hospital, FMC Hospital, and Lynas Medikal \u2014 have started contributing positively to overall group performance.<\/span><\/p><p><span style=\"font-weight: 400;\">From a balance sheet perspective, PRAY continues to maintain a healthy financial position. Debt Service Coverage Ratio (DSCR) improved to 2.68x from 2.41x in 4Q25, while overall liquidity and cash position remain stable. This reflects continued financial discipline and healthy operating cash flow generation to support the company\u2019s ongoing expansion strategy.<\/span><\/p><p><span style=\"font-weight: 400;\">Looking ahead, management remains confident in achieving FY26 targets, including revenue growth of 15\u201320% and EBITDA growth of 20\u201325%. While remaining cautiously optimistic amid current macroeconomic conditions, PRAY expects continued support from growing patient demand, improving non-BPJS contribution, and the ramp-up of newly expanded facilities and business units.<\/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<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>PRAY 1Q26 Result Review:\u00a0 Strong Volume-Led Growth with Temporary Margin Normalization \u00a0 Primaya Hospital Group (PRAY) delivered a solid start to 2026, with strong revenue [&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-88744","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/primayahospital.com\/en\/wp-json\/wp\/v2\/pages\/88744","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=88744"}],"version-history":[{"count":9,"href":"https:\/\/primayahospital.com\/en\/wp-json\/wp\/v2\/pages\/88744\/revisions"}],"predecessor-version":[{"id":88819,"href":"https:\/\/primayahospital.com\/en\/wp-json\/wp\/v2\/pages\/88744\/revisions\/88819"}],"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=88744"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}