ISEC Healthcare Ltd · SGX:40T
ISEC Healthcare — 9M 2015 Earnings Presentation
26 slides from ISEC Healthcare's earnings presentation, November 2015
Slide 1: Corporate Presentation
Corporate Presentation 9 months ended 30 September 2015 Page 0 0
Slide 2: Disclaimer
Disclaimer ISEC Healthcare Ltd. (“ISEC” or the “Company”) was listed on Catalist of the Singapore Exchange Securities Trading Limited (the “SGX-ST”) on 28 October 2014. The initial public offering of the Company was sponsored by PrimePartners Corporate Finance Pte. Ltd. (the “Sponsor”). This present
Slide 3: Table of Content
Table of Content Business Overview Industry Overview Business Strategy and Expansion Plans Use of Proceeds and Corporate Developments 9M 2015 Financial Highlights Page 2
Slide 4: Business Overview
Business Overview Page 3 3
Slide 5: Business Overview
Business Overview • ISEC is a comprehensive medical eye care service provider, with ambulatory surgical centres in Malaysia (Kuala Lumpur & Penang) and Singapore (Gleneagles Hospital) • We specialise in the fields of cataract and refractive surgery (including LASIK), vitreoretinal diseases, corneal
Slide 6: Business Overview: Group Structure
Business Overview Group Structure ISEC Healthcare Ltd. 100% 100% 100% 100% International ISEC Sdn. Bhd. ISEC Eye Pte. ISEC Global Specialist Eye Ltd. Pte. Ltd. (Kuala Lumpur) Centre Pte. Ltd. (Gleneagles) (Novena) 66% 55% ISEC (Penang) ISEC (Sibu) Sdn. Bhd. Sdn. Bhd. (Penang) (Sibu) Clinics in Malay
Slide 7: Competitive Strengths of the Group
Business Overview Competitive Strengths of the Group 1 Highly qualified and experienced specialist doctors 6 Business model aligns the 2 interests of our High quality and specialist doctors with comprehensive range of our Group and eye care services Shareholders 5 Ability to replicate our 3 Well pos
Slide 8: Industry Overview
Industry Overview Page 7 7
Slide 9: Key Drivers for Private Ophthalmology
Industry Overview Key Drivers for Private Ophthalmology AGEING POPULATION with large elderly 25.9% of population in Malaysia above 40 years old in 2013, expected to patient group suffering from cataract, grow at CAGR of 1.7% from 2013 to 2018 glaucoma, AMD, dry eyes or vitreoretinal diseases as thes
Slide 10: Key Drivers for Private Ophthalmology (cont'd)
Industry Overview Key Drivers for Private Ophthalmology (cont’d) Medical tourism based healthcare expenditure forecast to grow at 26.7% GOVERNMENT SUPPORT IN PROMOTING CAGR from 2009 to 2018 in Malaysia MEDICAL TOURISM leading to generation of additional demand for medical services Medical tourism b
Slide 11: Business Strategy and Expansion Plans
Business Strategy And Expansion Plans Page 10 10
Slide 12: Our Business Strategies
Our Business Strategies To reach more patients in locations where we currently Growing the ISEC operate, as well as new locations such as Johor and Malacca Brand and To expand via setting up of subsidiaries, JV, expand existing Expanding into centres, acquire assets, businesses and companies the Asi
Slide 13: Expansion Plans: Business expansion in the Asia Pacific
Expansion Plans Business expansion in the Asia pacific region (including Malaysia Malaysia & and Singapore) Singapore Target Countries Page 12
Slide 14: Use of Proceeds and Corporate Developments
Use of Proceeds And Corporate Developments Page 13 13
Slide 15: Use of Proceeds
Use of Proceeds As at 5 November 2015 Amount allocated pursuant to reallocation of Use of proceeds Amount unutilized listing Amount allocated expenses utilised Balance S$’000 S$’000 S$’000 S$’000 Business expansion in Asia Pacific region (including Malaysia and 13,800 14,100 - 14,100 Singapore) Gene
Slide 16: Corporate Developments
Corporate Developments October 2015 – Proposed acquisition of 100% equity interest in Southern Specialist Eye Centre Sdn. Bhd. (“SSEC”) by ISEC Sdn Bhd (“Purchaser”) Summary of the proposed acquisition • Purchase consideration - RM37.1 million, approximately 12.43 times multiples of unaudited and no
Slide 17: Corporate Developments: Rationale for Proposed Acquisition
Corporate Developments October 2015 – Proposed acquisition of 100% equity interest in SSEC by ISEC Sdn Bhd (Cont’d) Rationale for the proposed acquisition • The proposed acquisition will expand the Group’s eye specialist clinics footprint in Malacca, serving health tourists from Southern Sumatra and
Slide 18: 9 Months Financial Highlights
9 Months Financial Highlights for the period ended 30 September 2015 Page 17 17
Slide 19: Basis of Preparation of Financial Information
Basis of Preparation of Financial Information 2014 2015 1Q2014 2Q2014 3Q2014 onwards January 2015 onwards ISEC Group ISEC Mal ISEC Mal + ISEC Mal + ISEC Sing + ISEC Eye results ISEC Sing Description ISEC Sing ISEC Sing Acquisition was started of ISEC Eye transferred operations on 26 Sept to ISECH in
Slide 20: Revenue
Revenue SGD’mil 9M 2015 vs 9M 2014 revenue was higher mainly due to additional revenue contribution from Singapore operations and increased number of patient visits in Malaysia operations. In 9M 2014, revenue contribution from Singapore was negligible since ISEC Singapore only commenced operations i
Slide 21: Revenue – By location/clinic
Revenue – By location/clinic SGD’mil Notes: 1) ISEC Mal consists of revenue from ISEC Kuala Lumpur and ISEC Penang 2) ISEC Eye – revenue from Lee Hung Ming Eye Centre 3) ISEC Sing – revenue from ISEC Singapore 4) Revenue from ISEC Eye included in FY2013 and FY2014 was based on the assumption that th
Slide 22: Revenue – Malaysia
Revenue – Malaysia RM’mil SGD’mil 4.7% 16.0% 12.6% Revenue contribution from Malaysia operations in Ringgit Malaysia was RM45.1 million in FY2013 and RM52.3 million in FY2014, up by approximately 16.0%, mainly due to upward revision in selling price and increased number of patients visits For 9M 201
Slide 23: EBITDA and Profit After Tax (PAT)
Earnings Before Interest Tax Depreciation and Amortisation (EBITDA) and Profit After Tax (PAT) SGD’000 EBITDA was S$4,892,000 for 9M 2015 as compared to S$3,706,000 for 9M 2014 and PAT was S$2,607,000 for 9M 2015 as compared to S$2,320,000 in 9M 2014 mainly due to higher revenue contribution from Si
Slide 24: Cash Position
Cash Position Total cash and cash equivalents Unutilized IPO proceeds Cash balances SGD’mil Total cash and cash equivalents as at 30 September 2015 was S$27.3 million. No debts. Cash balances (exclude unutilized IPO proceeds) increased from S$11.7 million as at 31 Dec 2014 to S$13.2 million as at 30
Slide 25: Statement of Financial Position
Statement of Financial Position S$’000 30 September 31 December 2015 2014 Key Assets Plant and equipment 4,004 4,285 Intangible assets^ 12,950 13,219 Trade and other receivables 2,053 2,570 Cash and cash equivalents 27,254 27,267 Key Liabilities Trade and other payables 1,856 2,498 Equity Shareholde
Slide 26: Thank You
Thank You Page 25 25