In today’s briefing:
- Siloam International Hospitals (SILO IJ) – Focusing on Hearts, Minds, Guts, and Mobility
- Sariguna Primatirta (CLEO IJ) – More Than Pure Water
Siloam International Hospitals (SILO IJ) – Focusing on Hearts, Minds, Guts, and Mobility
- Siloam International Hospitals continues to establish a track record of improving returns through greater cost efficiencies and higher treatment intensity, focusing on the CONGO range of treatments.
- The company has seen strong growth in inpatient and outpatient admissions, with a growing portion coming through digital channels, and an increase in average revenue per operating bed.
- Siloam has maintained a beneficial payee mix and continues to expand its new hospitals in a measured way, helping to underpin future growth. Valuations remain attractive on 7.9x FY2025E EV/EBITDA.
Sariguna Primatirta (CLEO IJ) – More Than Pure Water
- Sariguna Primatirta (CLEO IJ) continues to impress in terms of both growth and profitability for 9M2024 and looks well on track to exceed its guidance for 2024 substantially.
- The company has continued to expand its factory network outside Java this year, with three new factories due to be completed making it the largest water factory network in Indonesia.
- CLEO continue to launch innovative new variants with its most recent 1-litre variant aimed at increasing outdoor activities, and a new recycled bottle also being launched. Valuations attractive versus growth.
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