Rajthanee Hospital Public Company Limited · SET:RJH
Rajthanee Hospital Public — Q4 2019 Earnings Presentation
30 slides from Rajthanee Hospital Public's earnings presentation, January 2021
Slide 1: Rajthanee Hospital 4Q 2019 Result
Rajthanee Hospital Public Company Limited 4Q 2019 Result
Slide 2: Agenda
Agenda 1. Summary and Updates 4 2. Business Overview 6 3. Financial Performance 12 4. Strategies & Future Projects 25 2
Slide 3: Disclaimer
Disclaimer The information contained in this presentation is for information purposes only and does not constitute an offer or invitation to sell or the solicitation of an offer or invitation to purchase or subscribe for share in Rajthanee Hospital Public Company Limited (“RJH” and shares in RJH, “s
Slide 4: Summary and Updates
01 Summary and Updates
Slide 5: Company Profile
Company Profile Our History Rajthanee Hospital Public Company Limited (“RJH”) was established in 1990 and commenced its operations in 1992 under the management of experienced physicians. Most of which graduated from Siriraj , one of Thailand’s best medical school. Business Overview 2 private general
Slide 6: Business Overview
02 Business Overview
Slide 7: Business Characteristics
Business Characteristics Rajthanee Hospital (RJH) Rajthanee Rojana Hospital (RRH) 7 Rajthanee Hospital Public Company Limited Rajthanee Rojana Hospital Company Limited Registered hospital beds 253 beds Registered hospital beds 100 beds Beds in service 236 beds Beds in service 38 beds OPD units 59 ro
Slide 8: No.1 Hospital in Ayutthaya
No.1 Hospital in Ayutthaya Ayutthaya Province: • Large population and economy with increasing healthcare spending • Locations of major industrial estates and industrial parks: 3 industrial estates: Ban Wa (Hi-Tech) Industrial Estate, Bang Pa-in Industrial Estate and Saha Rattana Nakorn Industrial 5
Slide 9: Social Security Sector's Outlook
Social Security Sector’s Outlook Number of Insured Persons of Sector 33 & 39 (unit : million) • Contributing 2.80% of the nationwide number (13 million) 4.476 • Ranked 8th out of 77 provinces 0.913 0.862 0.543 0.500 0.481 0.425 0.373 0.327 0.301 Bangkok Samut Prakan Chon Buri Pathum Thani Samut Sakh
Slide 10: Ayutthaya's Social Security Insurers
Ayutthaya’s Social Security Insurers Insured Persons (S 33 + S 39) RJH's Insured Persons RJH Market Share % 379,287 372,560 362,798 351,641 353,862 353,147 51% 45% 46% 43% 41% 38% 2014 2015 2016 2017 2018 Dec-19 Source: Social Security Office ; data as of December 31, 2019 10
Slide 11: Revenue Structure under Social Security Scheme
Revenue Structure under Social Security Scheme Social Security Revenue 1 2 3 Per Special Fixed Capitation Payment Statistics-based Payment Medical Services • High Cost Equipment • Dental work • Checkup Base Payment IPD OPD 1,640 THB / Head / Year (High Cost Care) RW > 2 26 Chronic Diseases Customer
Slide 12: Financial Performance
03 Financial Performance
Slide 13: Revenue Breakdown By Patient Type
Revenue Breakdown By Patient Type 31% 35% 31% OPD 44% 4Q 2018 4Q 2019 THB 394.0 million IPD THB 441.7 million SW 25% 34% 13
Slide 14: Group Performance
Group Performance Revenue from Hospital Operations (THB Million) Non SW Revenue Social Security Revenue + 14% CAGR 1,771 1,587 1,403 730 676 630 +12% (y-o-y) -4% (q-o-q) 446 423 461 442 1,041 394 911 773 198 186 156 173 190 221 248 233 275 286 2017 2018 2019 4Q18 1Q19 2Q19 3Q19 4Q19 14
Slide 15: Group Performance
Group Performance Gross Profit Gross Profit % Gross Profit Margin Revised down Q1-Q3 SW 36.0% income 7 mil 31.5% 31.6% 29.7% 30.6% 29.9% 29.6% 28.5% 557 417 485 160 146 118 120 131 2017 2018 2019 4Q18 1Q19 2Q19 3Q19 4Q19 Non- Underpaid SW recurring income 32 mil cost 8 mil 15
Slide 16: OPD - Non SW Patients
OPD - Non SW Patients Revenue from OPD Non SW Patients (THB Million) +11% CAGR 522 472 420 +13.5% (y-o-y) -0.5% (q-o-q) 121 124 123 138 137 2017 2018 2019 4Q18 1Q19 2Q19 3Q19 4Q19 Number of Visits /1 and Revenue per Visit Non-SW OPD visits ('000 visits) Revenue per Visit (THB/Visit) 300.2 306.3 272.
Slide 17: OPD Utilization Rate – All Sectors
OPD Utilization Rate – All Sectors OPD Capacity (Units) & Utilization Rate (%) /1 OPD units Hemo Units % Utilization 82.7% 84.3% 80.4% 81.6% 81.6% 80.9% 77.4% 78.3% 115 114 114 115 116 116 112 107 47 47 47 47 47 47 44 47 63 65 68 67 67 68 69 69 2017 2018 2019 4Q18 1Q19 2Q19 3Q19 4Q19 /1 Include visi
Slide 18: IPD – Non SW Patients
IPD – Non SW Patients Revenue from IPD Non SW Patients (MB) +19% CAGR 519 +48.6% (y-o-y) 439 +8.5% (q-o-q) 353 137 149 124 109 100 2017 2018 2019 4Q18 1Q19 2Q19 3Q19 4Q19 Number of Visits /1 and Revenue per Visit Non-SS IPD Visit ('000 visits) Revenue per Visit (THB/Visit) 36,354 37,459 37,416 34,51
Slide 19: IPD Utilization Rate – All Sectors
IPD Utilization Rate – All Sectors IPD Capacity (Beds) /1 & Utilization Rate (%) /2 Beds % Utilization 80.3% 74.8% 77.8% 76.2% 75.5% 74.9% 72.1% 67.6% 284 260 250 249 256 234 244 208 2017 2018 2019 4Q18 1Q19 2Q19 3Q19 4Q19 /1 Average of the period /2 Include visits among the group 19
Slide 20: Social Security Insurers
Social Security Insurers Average Insured Persons (‘000 persons) RJH RRH 51% market share 187.8 187.3 188.4 190.5 181.3 184.9 175.4 163.4 27.3 26.8 28.0 30.0 21.6 24.3 19.0 11.3 152.1 156.4 160.5 159.7 160.7 160.5 160.4 160.4 2017 2018 2019 4Q18 1Q19 2Q19 3Q19 4Q19 Revenue per Average Insured Persons
Slide 21: Social Security Revenue
Social Security Revenue Social Security Revenue (THB Million) +12% CAGR 730 676 630 -10.0% (y-o-y) - 16.0% (q-o-q) Revised down Q1-Q3 SW income 7 mil 198 190 186 173 156 2017 2018 2019 4Q18 1Q19 2Q19 3Q19 4Q19 Underpaid SW income 32 mil 21
Slide 22: EBITDA
EBITDA EBITDA (THB Million) & EBITDA Margin (%) EBITDA (excl. extra items) Extra Income / (Expense) % EBITDA Margin 31.5% 27.8% 28.2% 24.8% 25.9% 25.7% 24.3% 24.7% 493 393 341 140 130 113 98 109 (11) (4) (34) (31) 2017 2018 2019 4Q18 1Q19 2Q19 3Q19 4Q19 • Extra Expenses : • 2018 : provision for unde
Slide 23: Net Profit
Net Profit Net Profit (THB Million) & Net Profit Margin (%) Net Profit (excl. extra items) Extra Income / (Expense) % Net Profit Margin (excl. extra items) 52 21.8% 19.4% 19.4% 19.2% 17.9% 17.2% 16.5% 16.6% 344 263 79 231 97 89 85 71 73 (9) (3) (25) 2017 2018 2019 4Q18 1Q19 2Q19 3Q19 4Q19 • Extra Ex
Slide 24: Capital Structure
Capital Structure 31 December 2018 31 December 2019 5% 9% 7% 8% 13% ST Loans Accounts payable 5% LT Loans 70% Others Liabilities Equity 83% 24
Slide 25: Strategies & Future Projects
04 Strategies & Future Projects
Slide 26: New Hospitals: Rajthanee II Hospital
New Hospitals Rajthanee II Hospital Size & • 120-bed hospital located nearby existing hospitals Location • Targeted only social security patients with quota of max 100,000 insured persons Investment • Green field project with estimated investment cost of THB 400 million (not & included land which cu
Slide 27: New Hospitals: Rajthanee Nongkhae
New Hospitals Rajthanee Nongkhae Size & • 120-bed hospital located in Nongkhae district, Saraburi near WHA industrial estate Location • Targeted cash and social security patients with quota of max 100,000 insured persons Investment & • Green field project with estimated investment cost of THB 450 mi
Slide 28: Expansion of Existing Hospitals
Expansion of Existing Hospitals Segments Strategies RJH • New Hemodialysis started operation in March 2020 with the 1st phase of 8 beds • Added 10 ER beds in March 2019 in order to accommodate cases of vehicle accidents • Added 2 wards in Q4 with total 36 beds • Renovate 29 bed-ward to 6 OPD units a
Slide 29: Slide 29
Slide 30: Thank You
Q&A Thank You Rajthanee Hospital Public Company Limited 111 Moo 3, Khlong Suan Phlu Sub-district, Phra Nakhon Si Ayutthaya District, Phra Nakhon Si Ayutthaya Province, Thailand 13000 Tel: (+66) 3533-5555-71 For further information & enquiries, please contact our investor relations at: Manassa Lertdu
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