Raffles Medical Group Ltd
SGX:BSL
Income Statement
Earnings Waterfall
Raffles Medical Group Ltd
Revenue
|
706.9m
SGD
|
Cost of Revenue
|
-90.6m
SGD
|
Gross Profit
|
616.3m
SGD
|
Operating Expenses
|
-508.1m
SGD
|
Operating Income
|
108.2m
SGD
|
Other Expenses
|
-18m
SGD
|
Net Income
|
90.2m
SGD
|
Income Statement
Raffles Medical Group Ltd
Dec-2011 | Mar-2012 | Jun-2012 | Sep-2012 | Dec-2012 | Mar-2013 | Jun-2013 | Sep-2013 | Dec-2013 | Mar-2014 | Jun-2014 | Sep-2014 | Dec-2014 | Mar-2015 | Jun-2015 | Sep-2015 | Dec-2015 | Mar-2016 | Jun-2016 | Sep-2016 | Dec-2016 | Mar-2017 | Jun-2017 | Sep-2017 | Dec-2017 | Mar-2018 | Jun-2018 | Sep-2018 | Dec-2018 | Mar-2019 | Jun-2019 | Sep-2019 | Dec-2019 | Jun-2020 | Dec-2020 | Jun-2021 | Dec-2021 | Jun-2022 | Dec-2022 | Jun-2023 | Dec-2023 | ||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Revenue | ||||||||||||||||||||||||||||||||||||||||||
Revenue |
273
N/A
|
281
+3%
|
291
+4%
|
301
+3%
|
312
+4%
|
320
+3%
|
330
+3%
|
336
+2%
|
341
+1%
|
348
+2%
|
353
+2%
|
363
+3%
|
375
+3%
|
382
+2%
|
389
+2%
|
396
+2%
|
411
+4%
|
432
+5%
|
452
+5%
|
470
+4%
|
474
+1%
|
472
0%
|
473
+0%
|
473
+0%
|
478
+1%
|
483
+1%
|
483
+0%
|
484
+0%
|
489
+1%
|
497
+2%
|
504
+1%
|
513
+2%
|
522
+2%
|
508
-3%
|
568
+12%
|
671
+18%
|
724
+8%
|
790
+9%
|
823
+4%
|
784
-5%
|
707
-10%
|
|
Gross Profit | ||||||||||||||||||||||||||||||||||||||||||
Cost of Revenue |
(52)
|
(54)
|
(56)
|
(58)
|
(61)
|
(62)
|
(64)
|
(64)
|
(63)
|
(67)
|
(69)
|
(72)
|
(74)
|
(74)
|
(75)
|
(77)
|
(81)
|
(84)
|
(88)
|
(91)
|
(92)
|
(91)
|
(91)
|
(91)
|
(94)
|
(96)
|
(96)
|
(98)
|
(100)
|
(105)
|
(108)
|
(111)
|
(111)
|
(116)
|
(136)
|
(147)
|
(143)
|
(149)
|
(92)
|
(107)
|
(91)
|
|
Gross Profit |
221
N/A
|
228
+3%
|
235
+3%
|
243
+3%
|
251
+3%
|
257
+3%
|
266
+3%
|
272
+2%
|
278
+2%
|
280
+1%
|
284
+1%
|
291
+2%
|
300
+3%
|
308
+3%
|
314
+2%
|
320
+2%
|
329
+3%
|
348
+6%
|
364
+5%
|
379
+4%
|
382
+1%
|
381
0%
|
382
+0%
|
382
+0%
|
384
+1%
|
387
+1%
|
388
+0%
|
387
0%
|
390
+1%
|
392
+1%
|
396
+1%
|
403
+2%
|
411
+2%
|
392
-5%
|
432
+10%
|
523
+21%
|
581
+11%
|
641
+10%
|
731
+14%
|
677
-7%
|
616
-9%
|
|
Operating Income | ||||||||||||||||||||||||||||||||||||||||||
Operating Expenses |
(164)
|
(169)
|
(176)
|
(182)
|
(188)
|
(189)
|
(195)
|
(199)
|
(184)
|
(185)
|
(187)
|
(193)
|
(220)
|
(227)
|
(233)
|
(238)
|
(249)
|
(266)
|
(281)
|
(296)
|
(300)
|
(299)
|
(301)
|
(301)
|
(307)
|
(310)
|
(310)
|
(308)
|
(309)
|
(313)
|
(319)
|
(327)
|
(335)
|
(327)
|
(344)
|
(403)
|
(466)
|
(489)
|
(518)
|
(474)
|
(508)
|
|
Selling, General & Administrative |
(140)
|
(145)
|
(151)
|
(157)
|
(159)
|
(163)
|
(167)
|
(171)
|
(178)
|
(180)
|
(183)
|
(188)
|
(191)
|
(199)
|
(203)
|
(207)
|
(215)
|
(231)
|
(243)
|
(255)
|
(256)
|
(256)
|
(259)
|
(260)
|
(261)
|
(265)
|
(263)
|
(262)
|
(260)
|
(262)
|
(265)
|
(268)
|
(274)
|
(278)
|
(296)
|
(341)
|
(390)
|
(403)
|
(335)
|
(301)
|
(304)
|
|
Depreciation & Amortization |
(7)
|
(7)
|
(7)
|
(7)
|
(8)
|
(8)
|
(8)
|
(8)
|
(8)
|
(8)
|
(9)
|
(9)
|
(10)
|
(11)
|
(11)
|
(12)
|
(13)
|
(13)
|
(14)
|
(15)
|
(15)
|
(15)
|
(15)
|
(15)
|
(15)
|
(16)
|
(17)
|
(18)
|
(18)
|
(20)
|
(23)
|
(25)
|
(29)
|
(33)
|
(35)
|
(36)
|
(39)
|
(41)
|
(39)
|
(38)
|
(37)
|
|
Other Operating Expenses |
(17)
|
(17)
|
(18)
|
(18)
|
(21)
|
(18)
|
(19)
|
(20)
|
3
|
4
|
4
|
4
|
(20)
|
(18)
|
(18)
|
(19)
|
(21)
|
(22)
|
(24)
|
(26)
|
(29)
|
(28)
|
(27)
|
(27)
|
(31)
|
(29)
|
(30)
|
(27)
|
(31)
|
(30)
|
(31)
|
(34)
|
(32)
|
(18)
|
(13)
|
(25)
|
(36)
|
(45)
|
(144)
|
(135)
|
(168)
|
|
Operating Income |
57
N/A
|
59
+2%
|
60
+1%
|
60
+1%
|
63
+4%
|
69
+9%
|
71
+4%
|
73
+2%
|
94
+30%
|
95
+1%
|
96
+1%
|
98
+1%
|
80
-18%
|
81
+1%
|
81
+1%
|
82
+0%
|
81
-1%
|
82
+1%
|
83
+1%
|
83
+0%
|
82
-1%
|
82
-1%
|
81
0%
|
81
-1%
|
77
-4%
|
77
+1%
|
78
+1%
|
79
+1%
|
81
+2%
|
80
-1%
|
77
-3%
|
75
-3%
|
76
+1%
|
66
-14%
|
88
+34%
|
120
+36%
|
115
-4%
|
151
+32%
|
213
+40%
|
203
-4%
|
108
-47%
|
|
Pre-Tax Income | ||||||||||||||||||||||||||||||||||||||||||
Interest Income Expense |
(0)
|
(0)
|
(0)
|
0
|
4
|
0
|
0
|
1
|
1
|
1
|
1
|
1
|
1
|
1
|
1
|
1
|
1
|
1
|
1
|
1
|
1
|
1
|
1
|
1
|
4
|
4
|
4
|
3
|
3
|
3
|
3
|
3
|
(0)
|
(2)
|
(4)
|
(5)
|
(6)
|
(6)
|
(3)
|
2
|
11
|
|
Non-Reccuring Items |
2
|
2
|
2
|
2
|
(0)
|
(0)
|
(0)
|
(0)
|
0
|
(0)
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
(0)
|
0
|
(0)
|
(0)
|
0
|
0
|
(0)
|
(0)
|
(0)
|
0
|
(1)
|
(1)
|
(1)
|
0
|
(0)
|
0
|
0
|
6
|
0
|
(17)
|
(17)
|
0
|
|
Total Other Income |
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
(0)
|
0
|
(0)
|
0
|
0
|
0
|
(0)
|
(0)
|
(0)
|
0
|
(0)
|
(0)
|
0
|
0
|
(1)
|
(1)
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
(2)
|
(2)
|
(0)
|
|
Pre-Tax Income |
60
N/A
|
61
+2%
|
62
+1%
|
62
+1%
|
67
+7%
|
69
+3%
|
72
+4%
|
73
+3%
|
95
+30%
|
96
+1%
|
97
+1%
|
99
+1%
|
81
-18%
|
82
+1%
|
82
+1%
|
83
+0%
|
82
-1%
|
83
+1%
|
83
+1%
|
83
N/A
|
83
-1%
|
82
-1%
|
82
-1%
|
82
0%
|
81
-1%
|
82
+1%
|
82
+1%
|
82
+1%
|
84
+2%
|
82
-2%
|
80
-3%
|
78
-3%
|
76
-2%
|
64
-16%
|
84
+33%
|
116
+37%
|
116
+0%
|
145
+26%
|
191
+32%
|
186
-3%
|
119
-36%
|
|
Net Income | ||||||||||||||||||||||||||||||||||||||||||
Tax Provision |
(9)
|
(9)
|
(9)
|
(9)
|
(9)
|
(10)
|
(10)
|
(11)
|
(10)
|
(10)
|
(10)
|
(10)
|
(13)
|
(13)
|
(14)
|
(14)
|
(13)
|
(13)
|
(14)
|
(14)
|
(15)
|
(15)
|
(14)
|
(14)
|
(12)
|
(12)
|
(12)
|
(12)
|
(13)
|
(13)
|
(13)
|
(14)
|
(15)
|
(15)
|
(20)
|
(28)
|
(32)
|
(41)
|
(48)
|
(42)
|
(28)
|
|
Income from Continuing Operations |
51
|
52
|
53
|
53
|
57
|
59
|
61
|
63
|
85
|
86
|
88
|
89
|
68
|
69
|
69
|
69
|
69
|
69
|
69
|
69
|
68
|
68
|
68
|
68
|
69
|
69
|
70
|
70
|
71
|
69
|
66
|
64
|
61
|
49
|
65
|
87
|
84
|
105
|
143
|
144
|
91
|
|
Income to Minority Interest |
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
0
|
1
|
1
|
2
|
2
|
3
|
3
|
3
|
2
|
2
|
1
|
1
|
0
|
(0)
|
(0)
|
(0)
|
(0)
|
1
|
1
|
1
|
0
|
(0)
|
(0)
|
(0)
|
(1)
|
|
Net Income (Common) |
50
N/A
|
52
+2%
|
52
+2%
|
53
+2%
|
57
+7%
|
59
+3%
|
61
+3%
|
62
+2%
|
85
+37%
|
86
+1%
|
87
+1%
|
89
+2%
|
68
-24%
|
68
+1%
|
68
+0%
|
69
+0%
|
69
+1%
|
70
+1%
|
71
+1%
|
71
+1%
|
70
-1%
|
70
0%
|
70
+0%
|
71
+0%
|
71
+0%
|
71
+0%
|
71
+0%
|
71
+0%
|
71
0%
|
69
-3%
|
66
-4%
|
63
-4%
|
60
-5%
|
50
-18%
|
66
+33%
|
88
+34%
|
84
-4%
|
104
+24%
|
143
+37%
|
144
+0%
|
90
-37%
|
|
EPS (Diluted) |
0.04
N/A
|
0.04
N/A
|
0.04
N/A
|
0.04
N/A
|
0.04
N/A
|
0.04
N/A
|
0.04
N/A
|
0.04
N/A
|
0.06
+50%
|
0.06
N/A
|
0.06
N/A
|
0.06
N/A
|
0.04
-33%
|
0.04
N/A
|
0.04
N/A
|
0.04
N/A
|
0.04
N/A
|
0.04
N/A
|
0.04
N/A
|
0.04
N/A
|
0.04
N/A
|
0.04
N/A
|
0.04
N/A
|
0.04
N/A
|
0.04
N/A
|
0.04
N/A
|
0.04
N/A
|
0.04
N/A
|
0.04
N/A
|
0.04
N/A
|
0.04
N/A
|
0.04
N/A
|
0.03
-25%
|
0.03
N/A
|
0.04
+33%
|
0.05
+25%
|
0.04
-20%
|
0.06
+50%
|
0.08
+33%
|
0.08
N/A
|
0.05
-38%
|