and its subsidiaries increased. Comprehensive net income also improved substantially with high level gross margins. While selling expenses decreased in the current year by comparison to the same quarter
, Rajthanee- Rojana Hospital’ s operation has improved substantially from the previous year. Going forward, business outlook is promising with the capacity expansion plan and significant growth of registered
. However, the cost increase was at lower rate than revenue increase. Likewise, 4Q17 hospital cost increased by 10% yoy lower than revenue growth. As a result, gross margin improved to 30% in 2017 from 28
from each insurer. Cost of Hospital Operations Cost of hospital operations in 3Q19 increased by 7% yoy slightly below the increase of revenue. As such, gross margin has improved from 31.2% to 31.6%. The
result, gross margin improved from 28% in 9M16 to 30% yoy and from 30% in 3Q16 to 33% yoy. This improvement was not only contributed by the increase of bill amount and social security payment rate but also
to 72% in 2Q18. The improved margin was not only attributed by the increase of fixed income from SW revenue and higher revenue per visit of non-SW category but also from the efficient cost control of
increased substantially which can outweigh lower visit number. The increase of revenue per visit was the result of more surgeries operated particularly heart surgeries and minimal invasive surgeries. All
, taxes and depreciation For 4Q’18 and year 2018, Earnings before interest, taxes and depreciation ( “EBITDA”) increased by 11% and 12% yoy, respectively. The increase in EBITDA came from both improved
revenue increase. As a result, gross margin improved to 33% in this quarter from 28% yoy. This improvement was contributed by the increase of social security payment rate and more revenue contribution from
included other income) increased substantially by 16% yoy. EBITDA margin rose from 25% of hospital revenue in 4Q18 to 26% in 4Q19. This was mainly attributable to the increase of non-SW revenue. Financing