Sikarin announces strong 2024 results

Profit up despite regulatory pressures, dividend and share buyback declared

 

Sikarin Pcl (SKR) has announced robust financial performance for the year 2024, reporting net profit of 664 million baht and total revenues of 6,092 million baht, representing a 4.12% increase year on year. 

 

According to its statement released on Friday, the company attributes this growth to the continued expansion of its specialised medical services.

 

Suriyan Kojonroj, executive vice-president and chief operating officer of SKR, highlighted that health-care service revenues reached 6 billion baht, a 4.08% rise compared with the previous year.

 

Despite facing headwinds from the Social Security Office's reduction in medical service rates for high-cost inpatient cases (AdjRW>2), which resulted in a 315-million-baht impact on total revenue, SKR successfully broadened its customer base among cash-paying clients. 

 

Notably, the treatment of complex diseases through its specialised medical centres experienced sustained growth. This, coupled with a focus on efficient cost control and risk mitigation, enabled SKR to maintain a net profit margin of 10.92% and increase total assets by 4.04% to 9,619 million baht. 
  

The company's current ratio improved to 2.82 times, demonstrating its strong financial position and capacity for continued business expansion.

 

The company's board of directors has approved a profit allocation of 412 million baht for a dividend payment of 0.20 baht per share. The ex-dividend (XD) date is set for April 29, with the record date for dividend entitlement on April 30, and the dividend payment scheduled for May 16. 

 

This decision underscores SKR's commitment to its dividend policy during a period of economic slowdown, reflecting its consistent track record of annual dividend growth.

 

Furthermore, SKR has announced a share buyback programme with a budget of 700 million baht, as part of its capital-management strategy. 
  

This financial tool will be used to manage liquidity and support the company's share price when it is considered undervalued, highlighting SKR's robust cash flow and strong fundamentals.

 

Looking ahead to 2025, Suriyan said SKR plans to expand its medical capabilities through its specialised medical centres (Centres of Excellence), enhance services for social security clients via SSO Plus, and extend mobile hospital services through Sikarin Connect nationwide. 

 

These initiatives are aimed at positioning SKR as a leading hospital for the treatment of complex diseases in Thailand, driving sustainable growth and delivering strong returns to shareholders.

(2025/03/01-00:00)