ISEC Healthcare Ltd · SGX:40T
ISEC Healthcare — Q1 2015 Earnings Presentation
26 slides from ISEC Healthcare's earnings presentation, May 2015
Slide 1: 1Q2015 Financial Results Presentation
1Q2015 Financial Results Presentation May 2015 Page 0 0
Slide 2: Disclaimer
Disclaimer ISEC Healthcare Ltd. (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 presentation has
Slide 3: Table of Content
Table of Content Business Overview Industry Overview Business Strategy and Expansion Plans Use of Proceeds and Corporate Developments 1Q2015 Financial Highlights Page 2
Slide 4: Business Overview
Business Overview Page 3 3
Slide 5: Business Overview: Clinic Location and Group Structure
Business Overview Clinic Location Group Structure Penang ISEC Healthcare Ltd. 100% 100% 100% International ISEC Eye Pte. Kuala Lumpur ISEC Sdn. Bhd. Specialist Eye Ltd. (Kuala Lumpur) Centre Pte. Ltd. (Gleneagles) (Novena) 66% 55% ISEC (Penang) ISEC (Sibu) Sdn. Bhd. Sdn. Bhd. (Penang) (Sibu) Gleneag
Slide 6: Business Overview: About Us and Competitive Strengths
Business Overview About Us Competitive Strengths A comprehensive medical eye care service 1. Highly qualified and experienced specialist provider, with ambulatory surgical centres in doctors Malaysia (Kuala Lumpur & Penang) and Singapore 2. High quality and comprehensive range of eye (Gleneagles H
Slide 7: Industry Overview
Industry Overview Page 6 6
Slide 8: 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 th
Slide 9: 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 touri
Slide 10: Business Strategy and Expansion Plans
Business Strategy And Expansion Plans Page 9 9
Slide 11: 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
Slide 12: Expansion Plans: Business expansion in the Asia Pacific region
Expansion Plans Business expansion in the Asia Pacific region (including Malaysia Malaysia & and Singapore) Singapore Target Countries Page 11
Slide 13: Use of Proceeds and Corporate Developments
Use of Proceeds And Corporate Developments Page 12 12
Slide 14: Use of Proceeds
Use of Proceeds As at 13 May 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) General
Slide 15: Corporate Developments: Sibu, Sarawak
Corporate Developments January 2015 – Sibu, Sarawak Malaysia Proposed incorporation of joint venture company, ISEC (Sibu) Sdn. Bhd. • ISEC Sdn. Bhd. shall hold 55% of the shares in ISEC (Sibu) Sdn. Bhd. • ISEC (Sibu) Sdn. Bhd. shall operate and administer an ophthalmology centre of excellence in the
Slide 16: Corporate Developments: Vietnam
Corporate Developments April 2015 - Vietnam Entered into a Memorandum of Understanding with Cao Thang Corp (“CTC”) and Mr. Nguyen Danh Khoi to operate and administer eye hospitals, ophthalmology centres and eye clinics in Vietnam • CTC was founded in 2001 in Ho Chi Minh City, Vietnam and operating a
Slide 17: 1Q2015 Financial Highlights
1Q2015 Financial Highlights For the First Quarter Ended 31 March 2015 Page 16 16
Slide 18: Basis of Preparation of 1Q2015 Financial Information
Basis of Preparation of 1Q2015 Financial Information 2014 2015 1Q2014 2Q2014 3Q2014 onwards 1Q2015 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 Aug 20
Slide 19: Basis of Preparation of 1Q2015 Financial Information (Cont'd)
Basis of Preparation of 1Q2015 Financial Information (Cont’d) • 1Q2014 figures only consist of financial results of ISEC Sdn. Bhd. and its subsidiaries in Malaysia then; • 1Q2015 figures consist of financial results of ISEC Sdn. Bhd. and its subsidiaries in Malaysia, and financial results of ISEC He
Slide 20: Revenue
Revenue SGD’mil RM’mil 7.0 Revenue - Group Revenue-Malaysia 6.4 13.2 6.0 13.0 13.1 5.0 12.8 4.6 12.6 4.0 4.9 12.4 4.6 12.2 3.0 12.0 2.0 11.8 11.9 11.6 1.0 1.5 11.4 - 11.2 1Q2014 1Q2015 1Q2014 1Q2015 Malaysia Singapore Total 1Q2015 vs 1Q2014 revenue was higher mainly due to revenue contribution fro
Slide 21: Cash Position
Cash Position 27.1 Total cash and cash equivalents 27.3 2.8 14.1 Unutilized IPO proceeds 15.6 - 13.0 Cash balances 11.7 2.8 - 5.0 10.0 15.0 20.0 25.0 30.0 SGD’mil As at 31 Mar 2015 As at 31 Dec 2014 As at 31 Mar 2014 Total cash and cash equivalents as at 31 Mar 2015 was S$27.1 million. No debts.
Slide 22: Profit After Tax
Profit After Tax 4,000 SGD’000 3,481 3,500 3,000 2,691 2,500 2,000 1,532 1,500 1,000 799 768 746 500 133 33 - Profit after tax Cost of sales Admin expenses Other expenses 1Q2014 1Q2015 1Q2015 vs 1Q2014 Profit after tax at S$768,000 was slightly lower as higher revenue generated in the quarter was
Slide 23: Pro forma Analysis and Commentaries
Pro forma Analysis and Commentaries SGD’mil 7.0 6.4 5.9 6.0 5.0 4.0 Note: 1Q2014# refers to Pro forma 1Q2014 3.0 2.9 3.0 Pro forma 1Q2014 figures were prepared based on: 2.0 1.8 • ISEC Eye acquisition of Lee Hung Ming Companies was assumed to have taken 1.0 0.8 place since 1 January 2014; and • Acqu
Slide 24: Pro forma Analysis and Commentaries (Cont'd)
Pro forma Analysis and Commentaries (Cont’d) 1Q2015 vs 1Q2014# Gross profit was slightly lower in 1Q2015 despite higher revenue mainly due to new doctors recruited for ISEC Singapore (wef. August 2014) and doctor salary in ISEC Eye (Dr Lee’s remuneration prior to 26 Sept 2014 was mainly paid as di
Slide 25: Statement of Financial Position
Statement of Financial Position S$’000 31 March 31 December 2015 2014 Key Assets Plant and equipment 4,511 4,285 Intangible assets^ 13,078 13,219 Trade and other receivables 2,623 2,570 Cash and cash equivalents 27,149 27,267 Key Liabilities Trade and other payables 3,238 2,498 Equity Shareholders e
Slide 26: Thank You
Thank You Page 25 25