Raffles Medical Group Ltd's Annual Report for the Financial Year Ended December 31, 2024
Summary:
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Revenue: Increased by 6.3% to S$751.6 million in FY2024 from S$706.9 million in FY2023.
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Profit After Tax and Minority Interests (PATMI): Decreased by 31.0% to S$62.2 million compared to S$90.2 million in FY2023, due to lower government grants and absence of fair value gains.
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Earnings Per Share (EPS): Fell to 3.34 cents from 4.82 cents.
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Net Asset Value (NAV) Per Share: Rose to 56.50 cents as of December 31, 2024, up from 55.34 cents the previous year.
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Cash and Cash Equivalents: Increased to S$343.7 million.
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Dividend: Proposed final dividend of 2.5 cents per share.
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Segment Performance:
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Hospital Services: Revenue grew by 4.6% to S$345.7 million; segment profit rose 9.5% to S$35.7 million.
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Healthcare Services: Revenue rose 4.1% to S$295.1 million; profitability declined due to fewer grants and end of COVID-related services.
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RafflesHealthinsurance (RHI): Revenue up 23.2% to S$178.0 million; higher loss ratios from medical inflation impacted margins.
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Note: All data is sourced from Raffles Medical Group Ltd's Annual Report for the financial year ended December 31, 2024.