Vibhavadi Medical Center Public Co. Ltd. · SET:VIBHA
Vibhavadi Medical Center Public — Vibhavadi Medical Center PCL — Q3 2024 Earnings Presentation
45 slides from Vibhavadi Medical Center Public's earnings presentation, 2024
Slide 1: Opportunity Day Q3/2024
OPPORTUNITY DAY Q3/2024 VIBHAVADI MEDICAL CENTER PCL
Slide 2: JAB&GO Clinic
NW-AdU SovdAGu , ae fu nvoou © y JAB&GO Clinic WWW.JABANDGOCLINIC.COM sunouelln vie [siworuradnnon a Tuoysnaiaye
Slide 3: Vibhavadi Hospital health package
Hovimeoniay ons 1 Vibhavadi HOSPITAL Ismmnaimod Fintiou fausnisweui7a 1,800.- Anos 510.- Anusmsvoulsuwenu7a 550.- SOU 5,660.- dadquounswa:nonmwlutios SS fesus-svicctush = Insfiau 5 where inSourintngu ea giiuvewgdetr Bes | gu bison ae I nssinthSou Gy meuawsmucms grow reas agen |S Tulasiow 1. nstiliaS
Slide 4: Suite room package
Kauiago Suite | ; o1A~rs 1 W5-8 | nas / (S99 taemuowns 1. nstiaSuidiguAin 50 % vousinries 2. FrownsuSs / oN SSaaqw (a1a1a)s1A7 660 UIN/Su_ 3. AhownsiUoeiAn 0 — 50 s1n1 360 uin/Su SOU Son J S euUSus:Auroulwith = Instieti ouurer tnsawrigeriomet [SP intownihgu Su grew Fintios Anusniswy1u1a 2,000.- Fino
Slide 5: VIP Suite package
Haulage VIP Suite. | amis 1 Fintios Fnusniswy1u1a 2,000.- Fines 510.- Aausnisvoulsuwu1u71a 550.- sou dadqusgnowa:aonmelurios BSS vowseavioswn Log neta >} twnwro eal Gifiuvow/giiotn Insawridinsiometu [BI indowtnr iw z 4 ses IEA taemuorwns fou th nowindhéou © mausws:musins [0], grew lulasiow 1. nstili
Slide 6: VW Precision Personalized Medicine
VW PRECISION PERSONALIZED MEDICINE at et a ee a 3 wssoulr @UN) (W Precision) Clinic) AaGNMsiwndmuidoniwoeavmw mulenrsqiaves USEn Tsswe71UIASNIDA Fafa (UNU) TngfiumwndgiUs:aunisni razynarnshiorlelalunnvunou vawSsouUdANssUTAL Tunisqiadavniwiuulawi-uAna (Personalized) LINE ID: @VPrecision @ -964-6465 S
Slide 7: Personalized medicine services
IUsun SUAS9D' LAV NAW IVE) P woes PERSONALIZED MEDICINE Epigeneticylest} © |@leenlirotileyiest} ASOVOIUNWsONIW ==) psoomainavoumsuauluinau, ' Packake Dp ASIVS=AUSOSIVUIWAGY - HY LINE ID: @VPrecision @ 964-6465 ®& www.vprecision.co.th
Slide 8: Personalized Vitamin Program
: y a yi ¥ . = = ’ IUsunsujseaUjawA-Uenal — VW Personalized)Vitamin)Rrogram) . sk) | SmiurasugiAuAu ® dua wenswu : _ 1 )--2-s Oo ia a ee. = : en Sook | Sadusuouyadas: S&. | Smiiuanormsdouway — —— ee ~ va ae Smiuiwuwayrulhiead G IAIVUUISVAVOU “"r = ry WY Tol nig -” Qu SAIDUUrSVeIO SanDuvrsvedyo: U AU
Slide 9: Advanced Medicine
lUsimsuquaavnawasy Advanced) Medicine) usmisniiu:u1 (aan \Gierscanp MM» | @Vrerbaricloxygenjiiherapy, “4 2") msooni9:IvUuwonsiu ne MY) Gano wiiaunsivoysaumasmovoonsiau o i a . ’ ~ aa (Cryotherapy) s ». | Gecalized[eryotherapy, Tuy s MOR SOROAMCUAReT “160 ourin © UIUAROUAD WIGUIOWA=?AlS —— . Therapy,
Slide 10: Business Overview, Q3/2024 Overview, Financial Performance, Forward Outlook & ESG
01 BUSINESS OVERVIEW 02 Q3/2024 OVERVIEW 03 FINANCIAL PERFORMANCE 04 FORWARD OUTLOOK & ESG 10
Slide 11: Company Overview
COMPANY OVERVIEW (Information as of MILESTONES MAJOR SHAREHOLDERS 29 April 2024) Total Shareholders 11,645Pe 1986 Establishment of the company Shares in Minor Shareholders (% Free float) 29.01% 1992 Listed in SET Top 10 Shareholders % Shareholding VIRIYAMETTAKUL FAMILY 27.49% 2003 JV with VIBHARAM h
Slide 12: Group Structure (VIBHA)
GROUP STRUCTURE (VIBHA) REGISTERED CODE HOSPITAL CITY OWNERSHIP BEDS SSO CODE COMPANY BUSINESS OWNERSHIP Parent VIBHA Vibhavadi BKK 100.00% 300 N LANNA Lanna CMI 82.57% 330 Y Beauty Design Hair BDC 46.25% CMH Chiangmai Ram CMI 46.54% 220 N Center transplant Subsidiaries TPY Theppanya 1&2 CMI 46.54%
Slide 13: Group Structure (VBR)
GROUP STRUCTURE (VBR) HOSPITAL CITY SHAREHOLDER OWNERSHIP REGISTERED BEDS SSO HQ Vibharam Pattanakarn Bangkok - 100.00% 150 Y Vibharam Laemchabang Chonburi - 100.00% 100 Y Branch Vibharam Samutsakhon Sumutsakhon - 100.00% 100 Y Sirinart Buengkum (closed) Bangkok - 100.00% - N Vibharam Samutprakarn S
Slide 14: Geographic Locations
GEOGRAPHIC LOCATIONS (20 Hospitals; 2,584 beds; 6,500+ doctors; 6,000+ nurses; 18,000+ staff) CMR Group (subsidiary) : 8 Hospitals / 1,202 beds (Chiangmai, Chiang Rai, Lamphun, Lampang, Tak) LANNA Lanna H. KL Khelangnakorn-ram H. HARI Hariphunchai H. PW Maesot-ram H. CMH Chiangmai Ram H. WCH Chiangr
Slide 15: Market Segmentation
MARKET SEGMENTATION MEDICAL OPERATIONS CUSTOMER DIVERSIFICATION • Eye and LASIK Center International • Pediatrics • Obstetrics and Gynecology Target Patient/Purchasing Power High income • Orthopedic Surgery VIBHA • Respiratory System • Gastrointestinal Center (GI) BP CMR Group Middle income • Surger
Slide 16: 3Q24 Overview
01 BUSINESS OVERVIEW 02 3Q24 OVERVIEW 03 FINANCIAL PERFORMANCE 04 FORWARD OUTLOOK & ESG 16
Slide 17: 3Q24 Financial Summary
3Q24 FINANCIAL SUMMARY 3,000 TOTAL REVENUE NET PROFIT 2,500 2,500 2,305 BDC 2.2%, VP 0.7%, 2,000 MDC 0.0%, FTV 0.0% Company % of Conso % Change 1,500 3Q23 VIBHA 62.7% + 24.7% 1,000 678 759 3Q24 361 420 CMR 27.5% - 10.3% 500 VIBHA - 39.1% BDC 0.9% - 10.5% Total Revenue EBITDA Net Income CMR 58.7% MDC
Slide 18: 9M24 Financial Summary
9M24 FINANCIAL SUMMARY 8,000 TOTAL REVENUE NET PROFIT 6,843 7,000 6,202 BDC 1.9%, VP 0.8%, 6,000 MDC 0.0%, FTV 0.0% Company % of Conso % Change 5,000 4,000 9M23 VIBHA 58.9% + 38.7% 3,000 9M24 1,609 1,842 CMR 31.4% + 11.2% 2,000 VIBHA 774 921 1,000 36.8% BDC 1.6% + 174.0% - CMR Total Revenue EBITDA N
Slide 19: Financial Performance Trends
FINANCIAL PERFORMANCE TRENDS Net profit EBITDA Operating income Investment income Net Total revenue Permanent investment income profit EBITDA Total Revenue Permanent Temporary Extra Temporary investment income 3Q24 420 615 2,356 69 75 2Q24 162 421 2,080 93 (87) 1Q24 339 570 2,172 63 22 4Q23 301 464
Slide 20: Financial Performance
01 BUSINESS OVERVIEW 02 3Q24 OVERVIEW 03 FINANCIAL PERFORMANCE 04 FORWARD OUTLOOK & ESG 20
Slide 21: Revenue Components – Conso
REVENUE COMPONENTS – CONSO [BY TYPE OF SERVICE] (unit : million baht) Other income 2,600 Gain (loss) on revaluation of investments 2,200 Gain on reclassification of investments 1,800 Dividend income 1,400 Gain (loss) on sale of investments Rental and service income 1,000 Vaccine Moderna 600 Medical
Slide 22: Net Profit Components – Conso by Company
NET PROFIT COMPONENTS – CONSO [BY COMPANY] (unit : million baht) 500 Elimination 400 Share profit from associates Other subsidiaries 300 CMR VIBHA 200 100 0 (100) 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 Y 2022 Y 2023 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 VIBHA* 781.04 612.46 88.38 92.72 214.88 216.49 172.72
Slide 23: Share Profit from Associates
SHARE PROFIT FROM ASSOCIATES (unit : million baht) 5th Wave 92.24 Covid-19 1st Wave 2Q20 2nd Wave 1Q21 34.97 3rd Wave 3Q21 26.70 16.48 4th Wave 3Q22 5.78 2.03 5th Wave 2Q23 (40.75) 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 Y2022 Y2023 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 VBR 124.98 48.84 2.66 87.82
Slide 24: Dividend Income
DIVIDEND INCOME (unit : million baht) Year Period VIBHA CMR BDC CONSO 1 29.83 35.31 - 65.14 2 119.28 0.84 - 120.12 2022 3 63.60 24.21 - 87.81 4 81.22 21.68 - 102.90 Total 293.93 82.04 - 375.97 3Q22 3Q23 3Q24 1 44.74 52.15 0.31 97.20 2 86.16 3.51 0.30 89.96 2023 3 53.89 26.78 0.36 81.03 4 74.58 17.47
Slide 25: Dividend Income Source
DIVIDEND INCOME SOURCE (unit : million baht) PERIOD 1Q22 2Q22 3Q22 4Q22 Y 2022 1Q23 2Q23 3Q23 4Q23 Y 2023 1Q24 2Q24 3Q24 RAM 64.32 - 40.20 40.22 144.74 96.48 - 48.24 32.16 176.88 64.44 - 32.31 SKR - 36.77 24.51 - 61.28 - 23.74 26.72 - 50.47 - 27.28 27.39 TNH - - - 16.60 16.60 - - - 17.44 17.44 - - -
Slide 26: VIBHA - Investment in Listed Shares
VIBHA - INVESTMENT IN LISTED SHARES [SET] (unit : thousand baht) RICHY STA As of 30 September 2024 Gain/(loss) DCC Net amount invested Market value Record 1.02% 3.03% Symbol from 7.20% during 1Q24 - 3Q24 @22/11/24 to Investment cost Ownership revaluation CGH 1.28% RAM 22,555 4.3% 2,127,141 6.29% 1,7
Slide 27: VIBHA - Investment in Non-Listed Shares
VIBHA - INVESTMENT IN NON-LISTED SHARES Thousand baht Baht Nawanakorn 1.93% Symbol As of 30 September 2024 Cost per EPS Dividend per share Innovation Serirak H. Cost Ownership Fair value share Y2023 Y2023 9M24 4.66% 1.07% Thonburi Synphaet Hospital 589,000 10.00% 1,028,000 50.78 7.53 4.00 2.00 Chaop
Slide 28: Financial Data
FINANCIAL DATA (unit : million baht) Year/Period YE2017 YE2018 YE2019 YE2020 YE2021 YE2022 YE2023 3Q24 Assets 15,446 15,547 19,630 21,175 28,427 30,923 27,814 26,316 Liabilities 6,079 6,172 9,258 10,441 13,170 12,713 11,595 11,873 Equity (attributable to owners 7,013 7,107 7,789 8,171 12,184 14,392
Slide 29: Financial Ratio
FINANCIAL RATIO Year/Period YE2017 YE2018 YE2019 YE2020 YE2021 YE2022 YE2023 3Q24* ROA (%) 9.45 7.97 7.96 4.24 9.66 7.29 5.37 6.68 ROE (%) 12.58 10.25 10.86 5.64 17.74 9.96 6.34 8.49 Net Profit (%) 17.00 13.18 14.45 8.50 24.78 17.34 12.38 13.48 Market Capital 33,784 26,399 23,744 19,657 35,840 36,92
Slide 30: Forward Outlook & ESG
01 BUSINESS OVERVIEW 02 3Q24 OVERVIEW 03 FINANCIAL PERFORMANCE 04 FORWARD OUTLOOK & ESG 30
Slide 31: Ongoing Projects [Vibhavadi Hospital]
ONGOING PROJECTS [VIBHAVADI HOSPITAL] Project name : Vibhavadi Rama 2 Project name : Treasury Stock Period : Mar 4 – Sep 4, 2024 Budget : 1,200 million baht Maximum shares : 540 million shares % of issued shares : 3.98% Share purchased : 94.40 million shares (until completion) % of issued shares : 0
Slide 32: Ongoing Projects [VBR Group]
ONGOING PROJECTS [VBR GROUP] BRANCH AREA ESTIMATED DESCRIPTION PROGRESS (sq m.) COST Laemchabang 34,000 690mb ER, OPD, car Bldg. A, B, C (Completed park, hospital construction, utility building adding in process) Bldg. D (EIA process) Amatanakorn 34,000 600mb 14 fl. building 55% AMATANAKORN Building
Slide 33: Future Projects [VBR Group]
FUTURE PROJECTS [VBR GROUP] BRANCH AREA ESTIMATED COST DESCRIPTION (sq m.) Onnut 53,000 1,000mb On hold Borwin 19,000 400mb On hold Amatanakorn 2 20,000 800mb EIA Project Submission (Phanat Nikhom) in process BORWIN AMATANAKORN 2 ONNUT 33
Slide 34: What to Expect
WHAT TO EXPECT NEXT QUARTER NEXT YEAR In 4Q24, we expect as follows; In 2025, we expect the total net income to VIBHA: net income to be significantly lower QoQ, and relatively be relatively higher than 2024 because of the following reasons; the same YoY because of ▪ seasonally high number of patient
Slide 35: ESG: Sustainability Highlights
ESG : Sustainability Highlights Green & Clean Hospital 5-star / “Excellent” for 2023 Increase green area Corporate Governance Rating (CGR) Garbage and Waste by Thai IOD, supported by SET Management Applied for TGO’s carbon footprint project Certified member of Thai Private Sector Collective Ac
Slide 36: ESG: Sustainability Highlights Social
ESG : Sustainability Highlights Activity “Life Care Heart Care” 19th Anniversary Floating Clinic 68 participants SOCIAL Blood donations, in collaboration with the Thai Red Cross 4 times/year Activity “Diabetes Mellitus, prevent before too late” Donate 1,000 disaster 40 participants relief packages D
Slide 37: Thanks!
@vibhavadihospital THANKS! Vibhavadi Hospital : www.vibhavadi.com 02-561-1111 Investor Relations : ir@vibhavadi.com 02-561-1111 # 2444 Disclaimer o The information contained in this presentation is for information purposes only. o This presentation contains forward looking statements which reflect m
Slide 38: Appendix
Appendix 38
Slide 39: Revenue Components – VIBHA
REVENUE COMPONENTS – VIBHA [BY TYPE OF SERVICE] (unit : million baht) 1,200 Other income Gain (loss) on revaluation of investments 1,000 Dividend income 800 Gain (loss) on sale of investments 600 Rental and service income 400 Vaccine Moderna 200 Medical treatment (Covid-19) 0 Medical treatment (gene
Slide 40: Shareholding structure
47.09% | 6.29% b> 48.93% | 10% 10% Synphaet Pattanakarn 5% 34.24! 5: 5 49.99% Cancer Center Amatanakorn SL 88.46% _Pakkred 99.48% ps Associate 30% Other investment 60% Listed company Nakornpathom Hospital Update : Q3/ 2024 Hospital with SSO Natinee Chumnankijkosol Investor Relations (VIBHA) +%+008 G
Slide 41: Patients & Revenue [CMR Group]
PATIENTS & REVENUE [CMR GROUP] Number of Patients Number of Patients Revenue Thousands Period 600 OPD IPD SSO OPD IPD SSO 500 1Q22 41.7% 3.5% 54.7% 33.4% 43.9% 22.7% 400 SSO 2Q22 39.5% 3.4% 57.1% 28.6% 52.5% 19.0% 300 IPD 200 3Q22 37.7% 3.3% 59.0% 31.1% 46.4% 22.6% OPD 100 4Q22 33.5% 3.1% 63.5% 32.4
Slide 42: Revenue Components [CMR Group]
REVENUE COMPONENTS [CMR GROUP] By Hospital 1Q22 2Q22 3Q22 4Q22 Y2022 1Q23 2Q23 3Q23 4Q23 Y2023 1Q24 2Q24 3Q24 9M24 LANNA 37.8% 36.5% 34.7% 30.7% 35.1% 33.8% 36.2% 35.0% 35.9% 35.2% 36.1% 38.2% 37.6% 37.3% CMH 40.1% 32.1% 43.2% 47.3% 40.2% 48.6% 46.8% 46.6% 45.3% 46.8% 46.1% 43.1% 43.0% 44.0% HARI 13
Slide 43: Patient Trends [VIBHA & CMR]
PATIENT TRENDS [VIBHA & CMR] VIBHA CMR General General SSO 350 350 350 300 300 250 250 250 200 200 150 150 150 100 100 OPD 50 50 50 (50) Q1 Q2 Q3 Q4 0 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Y2020 Y2021 Y2022 Y2020 Y2021 Y2022 Y2020 Y2021 Y2022 Y2023 Y2023 Y2024 Y2023 Y2024 Y2024 16 15 15 12 10 10 8 5 5 IPD 4 0 0
Slide 44: Patient Trends [VBR]
PATIENT TRENDS [VBR] General SSO 400 400 350 350 300 300 250 250 200 200 OPD 150 150 100 100 50 50 0 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Y2021 Y2022 Y2023 Y2024 Y2021 Y2022 Y2023 Y2024 40 8 35 7 30 6 25 5 20 4 IPD 15 3 10 2 5 1 0 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Y2021 Y2022 Y2023 Y2024 Y2021 Y2022 Y2023 Y2024 44
Slide 45: Registered SSO Insurers
REGISTERED SSO INSURERS CMR VBR 250,000 180,000 160,000 200,000 140,000 120,000 150,000 100,000 100,000 80,000 60,000 50,000 40,000 20,000 - - 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 22 22 22 22 23 23 23 23 24 24 24 22 22 22 22 23 23 23 23 24 24 24 Pattanakarn Laemchabang S
Vibhavadi Medical Center PCL — Q3 2024 Earnings Presentation on 6ix