Healthlead Public Company Limited · SET:HL
Healthlead Public — Q2 2025 Earnings Presentation
50 slides from Healthlead Public's earnings presentation, Aug 20, 2025
Slide 1: Opportunity Day
Opportunity Day Financial Performance Healthlead Public Company Limited 2Q25 August 20, 2025 1
Slide 2: Table of content
Table of content 1 Group Structure 4 Future Project 2 Business Overview 5 Financial Highlights 3 Industry Overview 6 Q&A 2
Slide 3: Group Structure
1 Group Structure 3
Slide 4: Group Structure
GROUP STRUCTURE Holding company Registered Capital : 136 million Baht Paid-up Capital : 136 million Baht 100.00% 100.00% Pharmacy retailer Developer and distributor of health products Registered Capital : 165 million Baht Registered Capital : 35 million Baht Paid-up Capital : 165 million Baht Paid-u
Slide 5: Business Overview
2 Business Overview 5
Slide 6: Business Overview
Business Overview ICARE HEALTH CO., LTD. HEALTHINESS CO., LTD. Pharmacy retailer selling medicines, Co-operate with research institutes to medical supplies, medical equipment, develop and distribute innovative and supplements, cosmeceutical, personal health-related products. care items, medical supp
Slide 7: ICARE HEALTH CO., LTD.
Business Overview ICARE HEALTH CO., LTD. Our pharmacy We are one-stop shop for health and wellness. We offer comprehensive range of health products to meet your needs. Dedicated to your well- being, we are your trusted source for quality medications and supplies. Our knowledgeable pharmacists are av
Slide 8: Business Model: Icare Health Co., Ltd.
BUSINESS MODEL: Icare Health Co., Ltd. Medicines & Personal Healthcare Home Healthcare Medical Foods Supplements Prescription and over-the- Cosmeceuticals, skincare, A comprehensive selection of Medical foods are specially counter medications, from hair care and other personal medical supplies and f
Slide 9: Our Commitment to Quality
BUSINESS MODEL: Icare Health Co., Ltd. Our Commitment to Quality Sourcing 1 We source products from reputable manufacturers with a proven track record of quality and safety. Inspection 2 Every incoming shipment undergoes rigorous inspection to ensure it meets our high standards. Storage 3 Our pharma
Slide 10: Business Model: Our Brands
BUSINESS MODEL: Our Brands We currently have 3 brands under ICARE HEALTH CO., LTD. iCare, Pharmax, and SuperDrug. • Community pharmacy • Professional pharmacy • Discount drug store • Neighborhood area • Suburban residential area • Locate near leading medical school • Locate in intense competition ar
Slide 11: Current Branches: Icare Health Co., Ltd.
CURRENT BRANCHES: Icare Health Co., Ltd. 1. Thotsakan Intersection 10. Thanommit Market 20. Tha It Nonthaburi 2. Save Center Watcharapol 21. Thanya Market Aom Yai 3. Sai 2 Market 11. La Salle 22. Lat Phrao 136 4. Prachaniwet 1 12. Ratchayothin 23. Foody Farm Soi Phra Ngoen 5. Seri Market Rama 9 13.
Slide 12: Current Branches: Icare Health Co., Ltd.
CURRENT BRANCHES: Icare Health Co., Ltd. 1. Pradit Manutham 14. Thonglor 13 26. Jas Green Village Prawet 2. Chamchuri Square 15. Seacon Srinakarin 27. Golden Place Rama 9 3. Pure Place Ramkhamhaeng 110 16. Ratchapruek 28. Nirvana Porch Krungthep Kreetha 4. Nuan Chan Road 17. Boonthavorn Suvarnabhumi
Slide 13: Superdrug branches
1. Superdrug Thepcharoen 2. Superdrug Makro 3. Superdrug Hospital for Charansanitwong Tropical Diseases Remark : Data as of August 13, 2025 Remark : Vitamin Club was closed on April 2025 13
Slide 14: Branch Location: Icare Health Co., Ltd.
BRANCH LOCATION: Icare Health Co., Ltd. Remark : Data as of August 13, 2025 14
Slide 15: Branch Location: Icare Health Co., Ltd.
BRANCH LOCATION: Icare Health Co., Ltd. 1. Seri Market Rama 9 14. Thanya Market Aom Yai 2. Save Center 15. Foody Farm Soi Phra Ngoen 3. Saenee Market Phet Kasem 28 16. Caltex Si Saman 4. Saenee Food Market Phet Kasem 56 17. Village Hub Pracha Uthit 90 5. Victoria Gardens Phet Kasem 69 18. Shell Phut
Slide 16: Community Mall / Market
BRANCH LOCATION: Icare Health Co., Ltd. Community Mall / Market 44 22. Pure Place, Ramkhamhaeng 110 35. Golden Place Rama 9 23. The Jas Wanghin 36. Nirvana Porch Krungthep Kreetha 24. The Nine Rama 9 37. Park Bang Na 25. Food Villa Ratchaphruek 38. Jas Green Villege Ramkhamhang 26. The Crystal Ekama
Slide 17: Stand Alone
BRANCH LOCATION: Icare Health Co., Ltd. Stand Alone 12 1. Thotsakan Intersection 2. Sai 2 Market 3. Prachaniwet 1 9. Pradit Manutham 4. Trio Phutthamonthon Sai 3 10. Nuan Chan Road 5. La Salle 11. Thonglor 13 6. Tha It Nonthaburi 12. Ratchapruek 7. Lat Phrao 136 8. Ramkhamhaeng 59 Remark : Data as o
Slide 18: Shopping Mall / Hypermarket Hospital
BRANCH LOCATION: Icare Health Co., Ltd. Shopping Mall / Hypermarket Hospital 10 1 2. Chamchuri Square 3. The Street Ratchada 4. Fashion Island 5. Lotus Lad Krabang 1. Superdrug Hospital for 6. Robinson Lat Krabang 1. Lotus Nong Chok Tropical Diseases 7. Seacon Srinakarin 8. Paradise Park G Floor 9.
Slide 19: Business Model: Healthiness Co., Ltd.
BUSINESS MODEL: Healthiness Co., Ltd. Supplement Products Sanitizing Products / Odor Eliminator / Medical Mask Herbal Personal Care / Herbal Personal Hygiene Products / Herbal Products 19
Slide 20: Products: Healthiness Co., Ltd.
PRODUCTS: Healthiness Co., Ltd. 20
Slide 21: Rewards: Healthlead PCL.
REWARDS: HEALTHLEAD PCL. Best Innovative Company Awards : Business Excellence Company listed on mai Innovation : BESUTO12 PLUS Hand Cleansing Wash Outstanding Deal Awards : Business Excellence Capital market fund raising deal (Offering size up to 3 bn THB) (Corporate) 21
Slide 22: Rewards: Healthiness Co., Ltd.
REWARDS: Healthiness Co., Ltd. 22
Slide 23: Rewards: Healthiness Co., Ltd.
REWARDS: Healthiness Co., Ltd. 23
Slide 24: Rewards: Healthiness Co., Ltd.
REWARDS: Healthiness Co., Ltd. 24
Slide 25: Rewards: Healthiness Co., Ltd.
REWARDS: Healthiness Co., Ltd. 25
Slide 26: CSR Project: Icare Health Co., Ltd.
CSR Project : Icare Health Co., Ltd. • Support for the 2nd Charity Bowling Event on June 28, 2025, organized by the Faculty of Tropical Medicine, Mahidol University, in collaboration with the Hospital for Tropical Diseases Foundation under the Patronage of Her Royal Highness Princess Galyani Vadhana
Slide 27: Events & Activities: World Expo Osaka 2025
EVENTS & ACTIVITIES: Healthiness Co., Ltd. World expo Osaka 2025 28
Slide 28: Events & Activities: World Expo Osaka 2025
EVENTS & ACTIVITIES: Healthiness Co., Ltd. World expo Osaka 2025 29
Slide 29: Events & Activities: World Expo Osaka 2025
EVENTS & ACTIVITIES: Healthiness Co., Ltd. World expo Osaka 2025 30
Slide 30: Events & Activities: Thailand Herbal Expo 2025
EVENTS & ACTIVITIES: Healthiness Co., Ltd. THAILAND HERBAL EXPO 2025 31
Slide 31: Industry Overview
3 Industry Overview 32
Slide 32: Thailand's Medicine Market Value
INDUSTRY OVERVIEW Thailand’s Medicine Market Value Thailand’s Medicine Market Value by Distribution Channel Y2023 unit:: THB BN 250 228 193 42 OTC OTC drug : 200 176 184 184.6 20% THB 42 BN 37 35.5 36.1 34 150 Private Public Hospital Hospital Prescription drug : 20% 60% THB 186 BN 100 186 142 148.5
Slide 33: Number of Drug Stores (Type: Khor Yor 1)
INDUSTRY OVERVIEW Number of Drug Stores (Type : Khor Yor 1) 25,000 • In 2025, the total number of modern 20,000 18,900 18,396 17,919 19,126 19,206 drugstores nationwide reached 17,156 16,816 16,319 3,429 3,405 5,233 13,906 3,485 3,268 19,206, reflecting a marginal increase No. of stores 15,000 4,895
Slide 34: Proportion of Aging Population in Thailand
INDUSTRY OVERVIEW Proportion of Aging Population in Thailand • Thailand is shifting toward a “Super Aged Society” by 2033, with over 28% of its population projected to be aged 60+, up from 20% today. • In 2023, approximately 75% of all elderly individuals suffer from NCDs, such as hypertension (the
Slide 35: Domestic Healthcare Expenditure
INDUSTRY OVERVIEW Domestic Healthcare Expenditure • Krungsri Research estimated healthcare sales value to grow by 6.0– 6.5% in 2024, in line with Kasikorn Research Center’s forecast of 6% growth. • For 9M2024, Krungsri Research reported a 6.5% YoY increase in domestic healthcare sales. • Domestic he
Slide 36: Outpatient Care Channels People Used by Region
INDUSTRY OVERVIEW Outpatient Care Channels People Used by Region Southern 6.2 23.9 16.4 14.4 23.0 3.8 12.3 Northeastern 5.3 20.7 29.8 15.2 19.0 0.8 9.1 Northern 5.4 18.3 26.4 14.6 20.2 2.4 12.7 Central 4.8 23.8 12.0 8.1 33.8 4.9 12.5 Bangkok 8.5 34.7 9.2 9.2 22.1 16.3 Nationwide 5.8 23.5 19.5 10.9 2
Slide 37: Future Projects
4 Future Projects 38
Slide 38: Future Projects & Estimated Investment
FUTURE PROJECTS & ESTIMATED INVESTMENT Target of 14 New Stores We aim to open 14 new stores per year in the Bangkok and vicinity over the next few years. This aggressive expansion will significantly expand our presence in the key market and solidify our leadership position. We carefully selecting st
Slide 39: Future Projects & Strategy
FUTURE PROJECTS & STRATEGY Expanding Healthiness’ Product Diversifying Distribution Channels Portfolio Healthiness collaborates with leading health and wellness Healthiness will be expanding its reach beyond HL Group professionals such as NSTDA and CuPharTech. We aim to through strategic partnership
Slide 40: Business Plan 2025 – New Store
BUSINESS PLAN 2025 – NEW STORE 2 branches signed contracts / reservation agreements 1 new store 5. Lotus Rama 4 6. Susco Bang Bamru Pinklao 1. Bangchak Chaengwatthana 1Q25 2Q25 3Q25 4Q25 2. On Nut Plaza 8 new stores 3. The Paseo Park Kanchanaphisek 1 branch signed contract / reservation agreement 4.
Slide 41: Business Plan 2025 – New Product
BUSINESS PLAN 2025 – NEW PRODUCT 3 new SKUs Q Herbal personal care line 1Q25 2Q25 3Q25 4Q25 Herbal Mouth Spray 7 new SKUs Herbal Nasal Spray Q Herbal personal care line Probio 14 Plus 30S Remark : Data as of August 13, 2025 42
Slide 42: Financial Highlights
5 Financial Highlights 43
Slide 43: Sales Breakdown by Categories – Quarter 2/2025
SALES BREAKDOWN BY CATEGORIES – Quarter 2/2025 Q2/2025 Q2/2024 Q1/2025 YOY QOQ Total Revenue from Sales MN THB % MN THB % MN THB % MN THB % MN THB % Revenues from Professional healthcare 372.78 67.99 322.00 69.26 387.90 68.08 50.78 15.77 (15.12) (3.90) Revenues from Home healthcare 79.59 14.52 65.66
Slide 44: Sales by Distribution Channels – Quarter 2/2025
SALES BY DISTRIBUTION CHANNELS – Quarter 2/2025 Q2/2025 Q2/2024 Q1/2025 YoY QoQ Distribution Channels MN THB % MN THB % MN THB % MN THB % MN THB % Revenue from Retail Sales 543.00 99.03 460.15 98.97 565.05 99.17 82.85 18.00 (22.06) (3.90) Revenue from Wholesales 5.30 0.97 4.79 1.03 4.75 0.83 0.51 10
Slide 45: Group Performance – Quarter 2/2025
GROUP PERFORMANCE – Quarter 2/2025 TOTAL REVENUES OTHER REVENUES NET PROFIT 557,328,624 THB 9,031,519 THB 16,804,016 THB 18.06% YOY 26.37% YOY 43.35% YOY GROSS MARGIN EBITDA MARGIN NET MARGIN 24.35% 8.68% 3.02% 23.99% YOY 31.93% YOY 43.35% YOY (Amount Changes) (Amount Changes) (Amount Changes) 46
Slide 46: Group Performance – Quarter 2/2025
GROUP PERFORMANCE – Quarter 2/2025 Q2/2025 Distribution Costs Other Maketing 7.18% 2.58% DISTRIBUTION COSTS TO REVENUE FROM SALES 17.98% Staff 24.43% YOY Rent D&A 52.96% (Amount Changes) 37.28% Q2/2025 Administrative Expenses Others ADMINISTRATIVE EXPENSES TO 27.27% TOTAL REVENUES 3.94% 5.98% YOY St
Slide 47: Group Performance
GROUP PERFORMANCE Liquidity Ratios Return on Asset 4.76 12.00 5.00 4.26 9.83 4.05 10.00 4.00 3.74 3.64 8.00 3.00 5.59 5.43 5.64 5.84 6.00 % X 2.00 4.00 1.00 2.00 0.00 0.00 2022 2023 2024 Q2 2024 Q2 2025 2022 2023 2024 Q2 2024 Q2 2025 Debt to Equity Ratio Return on Equity 0.60 14.00 13.08 0.54 0.49 0
Slide 48: Group Performance
GROUP PERFORMANCE EBIT Margin Inventory Days 12.00 70.00 68.91 9.65 68.00 10.00 66.05 66.00 8.00 64.00 63.22 62.17 6.07 62.00 Days 6.00 5.05 % 4.33 60.00 58.18 4.00 3.46 58.00 56.00 2.00 54.00 0.00 52.00 2022 2023 2024 Q2 2024 Q2 2025 2022 2023 2024 Q2 2024 Q2 2025 EBITDA Margin Account Payable Days
Slide 49: Others
OTHERS Same Store Sales Growth Details YE2023 YE2024 Q2 2024 Q4 2024 Q1 2025 Q2 2025 Same Store Sales Growth (SSSG) (2.4%) 10.2% 7.9% 6.1% 6.8% 7.6% Sales / Ticket (All branches) 483 467 496 457 473 453 Tickets / Day (All branches) 9,143 11,437 10,681 12,394 13,277 13,161 Remark : Data as of August
Slide 50: Thank You
Thank You Healthlead Public Company Limited ‘ St Pharmax Soa: fest) Queame () 51
Healthlead Public Company — Q2 2025 Earnings Presentation on 6ix