Equity Analysis /

ID : Medikaloka Hermina - Unchanged outlook in 2022F

    1 April 2022
    Published byCGS-CIMB

    Despite lower Covid-19 contribution, 4Q21 NP still grew 9% yoy (although sales fell 22% yoy); above expectations. We maintain our view that HEAL’s FY22F NP growth would decline due to normalising Covid-19 cases; hence, we maintain our Hold call at a higher TP.