Vicplas International Ltd. · SGX:569
Vicplas International — FY2024 Earnings Presentation
56 slides from Vicplas International's earnings presentation, 2024
Slide 1: Vicplas International Ltd Corporate Presentation FY2024 Results
VICPLAS INTERNATIONAL LTD Corporate Presentation FY2024 Results
Slide 2: Company Overview
Company Overview VICPLAS INTERNATIONAL LTD 2
Slide 3: Company Presence
Company Presence Business Segments Medical devices segment KINGTON, UK Forefront Medical designs, Manufacturing, Commercial develops and manufactures sterile and non-sterile medical devices CONNECTICUT, USA CHANGZHOU, CHINA SHANGHAI, CHINA Juarez, Mexico Commercial Manufacturing Commercial Manufactu
Slide 4: Financial Information
Financial Information VICPLAS INTERNATIONAL LTD 4
Slide 5: Financial Group Overview
Financial Group Overview S$’000 FY2024 FY2023 % Change Revenue 102,388 129,216 -20.8 • FY2024 revenue decreased by 20.8% to S$102.4 million compared to FY2023, while Net Profit before Tax (1,125) 5,609 nm Adjusted EBITDA decreased by 50.1% to S$7.3 million Net Profit after Tax (1,362) 4,238 nm • Med
Slide 6: Revenue
Revenue S$ million • Over the past seven financial years, the Group achieved revenue growth with a CAGR of 6.5% • Forefront Medical still contributes more than 60% 140.0 of Group revenue and the Group remains medical 130.8 129.3 device-focused 120.0 113.9 • Forefront Medical’s revenue was affected i
Slide 7: Profit
Profit FY2024 profit performance compared to FY2023 was S$ million impacted by: 13 12.3 • Other income in FY2024 increased by 15.1% mainly due 12 11.0 to a net foreign exchange gain as compared to a net 10.4 11 foreign exchange loss in FY2023, as well as an increase 10 in income from tooling, mould
Slide 8: Segmental Result – Forefront Medical
Segmental Result – S$ million 100 Forefront Medical 92.6 90.6 80.2 80 • In FY2024, Forefront Medical’s revenue fell by 30.3% to S$63.1 million as certain customers continued to resize 61.4 63.1 their finished goods inventories, leading to a reduction in orders 60 • Despite this abnormal situation, t
Slide 9: Segmental Result - Vicplas Pipes
Segmental S$ million Result - 50 Vicplas Pipes Revenue Vicplas Pipes Results 45 Vicplas Pipes 40 35 38.3 35.1 33.7 38.2 38.7 39.2 • In FY2024, Vicplas Pipes’ revenue 30 27.5 increased 1.5% to S$39.2 million as construction activities in Singapore 25 improved 20 • The segment’s results saw a 7.5% inc
Slide 10: Forefront Medical Devices
Forefront Medical Devices Presented by Walter Tarca Group CEO
Slide 11: Positioned for Long Term Growth
Value Our Vision proposition FY2024 Global Portfolio Growing Medical & Manufacturing Devices Market & POSITIONED Highlights Expansion Opportunities FOR LONG TERM GROWTH Business Applications Outlook 11
Slide 12: Our Vision
Our Vision To be a leading global medical device manufacturing partner with solutions that are preferred by product owners • 100% focused on manufacturing quality devices for the medical device industry • Global customer base in five continents • More than 800 employees worldwide • Committed to prov
Slide 13: About Us
About Us Forefront Medical is a medical device specialist in the contract development and manufacturing industry (CDMO), offering industrial and product designs with strong specialisation in the electro- mechanical , injection and blow moulding and extrusion fields together with an extended range of
Slide 14: Global Presence
Global Presence Juarez, Mexico Singapore – Corporate HQ Changzhou, China Manufacturing Sites • Singapore – Corporate HQ (7,410m2) • Xiamen, China (7,000m2) • Changzhou, China (7,024m2 + 7,000m2 extension) • Kington, UK (2,600m2) • Juarez, Mexico (7,000m2) from 2nd half of Fiscal Year 2025 Commercial
Slide 15: Our New Plant in Juarez, Mexico
Our New Plant in Juarez, Mexico 15
Slide 16: Juarez, Mexico Plant Location
Juarez, Mexico Plant Location Juarez 16
Slide 17: Juarez, Mexico Plant nearing completion
Juarez, Mexico Plant nearing completion Lobby Assembly Room Assembly Cleanroom and Quality Lab Moulding Room Offices Warehouse, Dock and Label Printing Room 17
Slide 18: Juarez, Mexico Plant nearing completion
Juarez, Mexico Plant nearing completion Final stages of internal fitout: • Automation lines installed and validated • Quality Lab fully functional • First batch of operators trained & have commenced work • Customer visits have commenced • Expected to receive ISO13485 Certification in October 2024 •
Slide 19: Extensive In-House Capabilities: From Concept to Manufacturing
• Product Concept & Realisation Extensive In-House Design & Development • Electronics, Software, Metal Parts Rapid Capabilities: From Prototyping • In-house Toolroom & • Micro Mould Plastic & LSR Design Team • 2K Mould Concept to Tooling • Insert Mould • Stack Mould • Injection Blow Manufacturing •
Slide 20: Our Medical Device Portfolio
Our Medical Device Portfolio • Vascular • Airway Management • Pharmaceutical Bottles • Cell & Gene Therapy • Surgical Devices • Endoscopy • Respiratory • Drug Delivery systems • Orthodontics • Diagnostics • Patient monitoring devices • Enteral feeding Bringing Medical Innovations to Life Over 90% of
Slide 21: Injection Moulded Medical Components
INJECTION MOULDED MEDICAL COMPONENTS • Micro-Moulding • Insert Moulding (plastics & metals) • Co-Injection • Multi-Shot Moulding • Unscrew Moulding • Tooling Capabilities Stack Mould, Spin-Stack Mould, In- Mould Assembly, 21
Slide 22: Liquid Injection Moulding & Silicone Rubber Extrusion Moulding
LIQUID INJECTION MOULDING (LIM) & SILICONE RUBBER EXTRUSION MOULDING • 6 Vertical Injection Machine from Arburg & Jing Day • Familiar with LSR resins from Key players of Wacker, Dow Corning & Momentive. • LSR Resins from Shore A 3 to Shore A 80 • Controlled Room Operation • Berstorff LSR Extrusion M
Slide 23: Extrusion Medical Tubings
EXTRUSION MEDICAL TUBINGS • Multi-lumen tubes • Braided tubes • Co Extrusion • Multi Color/Layer Extrusion • Small bore tubes (catheters) • Spiral / Corrugated Tubes • Specialty Tubes (Radio Opaque Additives added tube) 23
Slide 24: Tri-Tubing, Varying Diameter Tubing, Coiled Tubing
Tri - Tubing Varying Diameter Tubing Coiled Tubing 24
Slide 25: Tri Tubing Sub Assembly
TRI TUBING SUB ASSEMBLY Extrusion | Assembly Secondary Processes • CYC Bonding • Pad Printing 25
Slide 26: Blow Moulding of Medical Bottles
BLOW MOULDING OF MEDICAL BOTTLES Nasal Spray Bottle Product Development | Injection | Extrusion | Blow Moulding| Assembly | Packaging | Sterilisation 26 23
Slide 27: Full Device – High Pressure Inflation Device
FULL DEVICE – HIGH PRESSURE INFLATION DEVICE Presto HPID Injection | Assembly | Packaging | Sterilisation Secondary Processes • Assembly • Pad Printing • Adhesive/Solvent Bonding • UV Curing • Tray sealing & Packaging 27
Slide 28: Full Device - EMG ETT
FULL DEVICE - EMG ETT CHINA MARKET AUTHORISATION HOLDER MODEL EMG Endotracheal Tube Intended for use as a means of providing both an open airway for patient ventilation and for intraoperative monitoring of EMG activity of the intrinsic laryngeal musculature when connected to an appropriate EMG monit
Slide 29: Full Device - Infusion Set
FULL DEVICE - INFUSION SET Injection | Extrusion | Assembly | Packaging | Sterilisation 26 29
Slide 30: Full Device - Infusion Set
FULL DEVICE - INFUSION SET Injection | Extrusion | Assembly | Packaging | Sterilisation 30
Slide 31: Full Device - Laryngeal Mask
FULL DEVICE - LARYNGEAL MASK Injection | Extrusion | Blow | Assembly | Packaging | Sterilisation Laryngeal Mask Medical device that keeps a patient's airway open during anaesthesia or unconsciousness Secondary Processes • Assembly • Shape Forming • Pad Printing • Adhesive/Solvent Bonding • UV Curing
Slide 32: Full Device – Safety Wing Infusion Sets
FULL DEVICE – SAFETY WING INFUSION SETS Injection | Extrusion | High Speed Assembly | Packaging | Sterilisation Secondary Processes • Assembly • Shape Forming • Pad Printing • Adhesive/Solvent Bonding • UV Curing 32
Slide 33: Full Device - Jejunal & Naso Gastric Feeding Tube
FULL DEVICE - JEJUNAL & NASO Secondary Processes GASTRIC FEEDING TUBE • Assembly Product Development | Injection | Extrusion | Assembly | Packaging | Sterilisation • Hydrophilic Coating • Adhesive/Solvent Bonding • UV Curing • Tyvek Pouch Packaging Jejunal Gastric Decompression Tube Designed for eas
Slide 34: Forefront in the AI + Orthodontics Space: Full Device – Scanbox
FOREFRONT IN THE AI + ORTHODONTICS SPACE FULL DEVICE – SCANBOX Injection | Assembly | Packaging 34
Slide 35: Textile Manufacturing
TEXTILE MANUFACTURING 35
Slide 36: Life Science
LIFE SCIENCE Automag Isolate T-cells 13 from Donor to engineer T-cells to become mighty soldiers to fight against cancer Isolation 36
Slide 37: Life Science
LIFE SCIENCE Gold Plating Helium Leak Test Some of the metal parts are Gold Plated Most Stringent leak to ensure that there is testing method in no reactive between Forefront so far Plastic Tubing Moulding the metal and cells Connection Forefront have Majority of the Plastic acquired various ways Co
Slide 38: Opportunities in Medtech Industry
Opportunities in Global Medical Devices Market Size Medtech Industry (in USD Billions) 1000 886.8 The global medical devices market is projected to grow from $518.46 billion in 900 2023 to $886.8 billion by 2032 at a CAGR of 6.3% during the forecast period.* 800 Key drivers: 700 • Growing prevalence
Slide 39: Growing Contract Development & Manufacturing Market
Contract Development & Manufacturing Market is Growing MedTech CDMO Market by Application: 2019-2025e (US$B) The MedTech contract development and manufacturing market (CDMO) grew 10.51% 100.9 CAGR between 2019 and 2023 CAGR: Other Devices 12.9% 11.4% Key drivers: Respiratory Care • Ageing population
Slide 40: Forecast for CDMO Market is positive
Forecast for CDMO Market is positive MedTech CDMO Market forecast growth to 2029) Markets & Markets report MD7111 March, 2024 40
Slide 41: FY2024 Highlights
• FY2024 results were negatively impacted by certain customers rebalancing their inventories as they continue to clear excess inventory that may have been ordered as safety stock during the uncertain days of the pandemic, leading to a current reduction in new orders • Increased operating expenses su
Slide 42: We Aim for Sustainable Long Term Growth
S$ million 100 1H 2H 90 WE AIM FOR 80 70 47.6 43.2 SUSTAINABLE 60 39.7 LONG TERM 50 31.5 31.5 40 GROWTH 30 16.3 27.3 45.0 47.4 20 12.1 40.5 29.8 31.7 10 17.7 12.8 15.6 0 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 Segmental Revenue 42
Slide 43: Achieving Our Vision: Strategic Intent
Accelerate Sustainable Achieving Revenue Our Vision: Strategic Continuous 4 Growth Innovation Intent Operational Leadership Improvements Pillars To improve financial performance by delivering great solutions for our customers and building sustainable value for all our stakeholders Build High-Perform
Slide 44: Strategic Priorities
Continue Capital Investments Strategic • Broaden global manufacturing footprint to satisfy demand and improve flexibility of supply chains for new and existing customers Priorities - Changzhou extension completed - Plant in Juarez, Mexico progressing well with automation lines installed and tested,
Slide 45: Business Outlook
Business Outlook • Reduced ordering situation is expected to continue until the customers’ inventory levels have stabilised • New plant in Juarez, Mexico expected to be producing revenue in the second half of FY2025 • After this transitional phase is over, segment will be well- positioned to further
Slide 46: Vicplas Pipes & Pipe Fittings
Vicplas Pipes & Pipe Fittings Presented by Jay Cheng Group Operations Director
Slide 47: A Sustainable Business
Value About Us proposition FY2024 Leader in the Core Built HIGHLIGHTS Environment Capabilities A SUSTAINABLE BUSINESS BUSINESS Applications OUTLOOK Presentation Title 47
Slide 48: About Us
About Us Vicplas Pipes is a leading solutions provider in the plastic pipe manufacturing industry. Our uPVC piping systems are found in a majority of residential homes across Singapore. Our market leadership is built on the quality and reliability of our products. They are commonly found in: • Plumb
Slide 49: Delivering Green and Innovative solutions beyond the built environment
Delivering Green and Innovative solutions beyond the built environment Driving us forward 49
Slide 50: Industry Leader in the built environment
Industry Leader in the built environment • SGBP Green Mark Scheme – 4th Green Marks accrue the maximum point rating for products used towards the project’s Green Mark Rating • 4th Green Marks achieved – Vicplas is now the recognised industry leader for waste and potable water piping systems • Also t
Slide 51: Core Capabilities
Core Capabilities Product Processing Tool Materials Design Techniques Fabrication Know-how Develop practical, Proficient across a Equipped with in- Extensive working cost-efficient range of polymer house mould design knowledge of solutions that evolve processing and fabrication polymeric materials w
Slide 52: Value Proposition To Customers
Value Proposition To Customers Solutions Provider Product Reliability Proactively look for new Conduct regular quality product development checks to ensure that products opportunities to fill industry meet stringent quality and gaps and meet emerging regulatory requirements needs Research & Developm
Slide 53: Application
Application Buildings • Residential homes • Commercial/ Institutional buildings • Industrial and others Hydro-agriculture • Irrigation pipelines • Grow Channels Civil Engineering • Telecommunication pipelines • Power gride pipelines • Infrastructure works 53
Slide 54: FY2024 Highlights
• Segmental revenue in FY2024 increased by 1.5% to S$39.2 million from FY2023 as construction activities in Singapore improved FY2024 HIGHLIGHTS • FY2024 segmental result saw a 7.5% increase to S$7.7 million as compared to FY2023 due to cost and efficiency improvements in its manufacturing plants 54
Slide 55: Business Outlook
Business Outlook • Well-positioned to meet the increase in demand from public housing and infrastructure projects over the next few years • Expected to face challenges from higher costs in the current built environment, which together with lingering effects of the pandemic, have prolonged difficulti
Slide 56: Thank You
Thank You wwwˌvicplasˌcomˌsg 35 Joo Koon Circle Singapore 629110 +65 62623888