Indonesia's Consumer Confidence Hits 5-Month Low in Mar-25

Indonesia's Consumer Confidence Hits 5-Month Low in Mar-25

Indonesia's consumer confidence index fell to 121.1 in Mar-25, the lowest since Oct-24, from 126.4 in Feb-25. This marked the third straight monthly decline, driven by weakening purchasing power and a shrinking middle class. All six sub-indices declined, including job availability (125.9), economic outlook (131.7), and income expectations (137.0). (Trading Economics) 

COMPANY
BCAS: BMHS IJ - FY24 Earnings Call KTA

FY24 Results: 
- BMHS posted 4Q24 net profit of IDR0.1bn (-83% QoQ, -88% YoY), bringing FY24 net profit to IDR11.9tn (+60.1% YoY), below ours/cons at 70%/50%. 
- 4Q24 revenue reached IDR398bn (+6.8% QoQ, +2.1% YoY), with FY24 revenue in-line at IDR1.5tn (+4.5% YoY), supported by 11%/9% YoY growth in IP adm/OP visits. Morula's cycle fell 3% YoY amid flat market growth. BoR at 54%, with potential upside to 65%. 

FY25 Guidance: 
- Revenue +15% YoY; Net income +20% YoY, driven by volume, no ASP hike 
- New facilities to be added - Begin 5Y strategic plan: focus on feasibility studies and optimizing asset utilization, incl. hospital development in Palembang, Padang, and Bali.