Jsp Pharmaceutical Manufacturing (thailand) Public Company Limited · SET:JSP
Jsp Pharmaceutical Manufacturing (thailand) Public — Investor Presentation (August 2024)
32 slides from Jsp Pharmaceutical Manufacturing (thailand) Public's investor presentation, Aug 19, 2024
Slide 1: Opportunity Day Presentation 1H/2024
JSP Pharmaceutical Manufacturing (Thailand) Public Company Limited OPPORTUNITY DAY PRESENTATION 1H/2024 19 August 2024
Slide 2: 1H/2024 Key Highlights
1H/2024 KEY HIGHLIGHTS JSP captures “Kidney Expanding ‘Medis’ Reinforcing JSP’s Strong Performance for Patient”, expanding dialysis Vending Machine Leading Position of 1H/2024 centers near communities Ahead of Plan the Industry ✓ During 1H/2024, Operating ✓ JSP supply of kidney-related ✓ After JSP h
Slide 3: Agenda
Agenda COMPANY OVERVIEW KEY FINANCIAL PERFORMANCE STRATEGIC DIRECTION AND 2024 OUTLOOK 3
Slide 4: JSP Investment Structure & Business Landscape
JSP Investment Structure & Business Landscape 1. Medicine, Supplements, Cosmetics, Herbal, Extraction 2. Import medical equipment (use in CDIP blood checkup lab and to Grace Water Med to pass on to Hemodialysis center) Revenue Breakdown by Structure Unit: Million Baht, % 100% 100% 100% 52% (Acquired
Slide 5: JSP Operates Along the Supply Chain
JSP Operates Along the Supply Chain 01 02 03 04 05 06 Think Tank Manufacturing Brand Distribution Service End User 5
Slide 6: Structure Breakdown: JSP
Structure Breakdown: JSP • Revenue share from JSP focusing on produce Supplement, Pharmaceutical, Traditional medicine, Herbal and Cosmetics products • Revenue share from JSP Pharma Holding focusing on holding the subsidiary companies such as 1) CDIP and 2) Medis to diversify the revenue stream and
Slide 7: Structure Breakdown: CDIP & Medis
Structure Breakdown: CDIP & Medis • Revenue share from CDIP focuses on three main services: 1) R&D, 2) Training, and 3) Health Check-Up. These services aim to collect data from target customers to enhance the efficiency of the research house in producing new innovations • Revenue share from Medis, f
Slide 8: Structure Breakdown: CARESUTIC
Structure Breakdown: CARESUTIC • Revenue share from CARESUTIC focusing on research and development of dietary supplements and cosmetics, along with a manufacturing facility for dietary supplements and cosmetics 1 2 3 4 5 Customers Cosmetics, dietary OEM & ODM Product Packaging, Logo, Testing and sup
Slide 9: Structure Breakdown: Suphap Osot
Structure Breakdown: Suphap Osot • Revenue share from Suphap Osot focusing on manufacturing and distributing dietary supplements through TV shopping, online shopping, and various shopping channels • Revenue share from Suphap Osot Clinic focusing on using traditional Thai medicine by a team of tradit
Slide 10: Structure Breakdown: Grace Water Med & Waree Medical
Structure Breakdown: Grace Water Med & Waree Medical • Revenue share from investment in Grace Water Med Company Limited focusing on production of A-B dialysis solutions and medical supplies to kidney patients • Revenue share from Waree Medical Company Limited for the installation and maintenance of
Slide 11: JSP Revenue Breakdown and Business Nature
JSP Revenue Breakdown and Business Nature 1H/2024 Revenue Breakdown by Business Line OEM Hemodialysis • Providing OEM end to end services for customer ✓ R&D ✓ Production 17% ✓ Packing and Packaging Trading & ✓ Branding Others 4% 355.1 37% MB 1H/2024 OEM Own Brand • Producing medicine and other suppl
Slide 12: Agenda
Agenda COMPANY OVERVIEW KEY FINANCIAL PERFORMANCE STRATEGIC DIRECTION AND 2024 OUTLOOK 12
Slide 13: 1H 2024 Financial Performance Highlights
1H 2024 Financial Performance Highlights Operating Revenue Financial Summary (YoY) 355.1 MB Unit: Million Baht, % +43.2% 44.8% YoY YoY 358.8 GPM and NPM 250.6 1H/2024 1H/2024 32.0% 2.9% +101.3 9.9% YoY 7.2% YoY % YoY +680.0% 114.1 YoY +191.7% YoY 56.7 54.2 ROA ROAand andROE ROE 7.0 (11.2) 10.3 xx 1.
Slide 14: Revenue Breakdown by Business
Revenue Breakdown by Business Overall Revenue Breakdown Million Baht, % +44.8% YoY 355.1 Trading and +60.7% 4% Others YoY +28.1% 17% Hemodialysis QoQ 245.3 7% 199.4 5% Own-Brand 5% 42% 155.7 16% 40% 124.1 3% 18% 12% 40% 9% 26% 45% 48% 37% OEM 53% 39% 34% Q2/2023 Q1/2024 Q2/2024 1H/2023 1H/2024 YoY:
Slide 15: Revenue Breakdown by Product Line
Revenue Breakdown by Product Line Overall Revenue Breakdown Million Baht, % +44.8% YoY +60.7% 355.1 YoY 6% Others +28.1% QoQ 17% Hemodialysis 245.3 5% Herbal 9% 199.4 20% Pharmaceutical 2% 7% 155.7 17% 28% 124.1 4% 5% 18% 13% 4% 23% 2% 16% 53% Supplement 28% 57% 58% 49% 47% Q2/2023 Q1/2024 Q2/2024 1
Slide 16: Gross Profit
Gross Profit Gross Profit and Gross Profit Margin Million Baht, % 35.6% 27.5% 32.0% 17.1% 22.1% Overall GPM +219.4% YoY +101.3% +63.7% YoY QoQ 114.1 70.8 Gross Profit 56.7 43.3 22.2 Q2/2023 Q1/2024 Q2/2024 1H/2023 1H/2024 +219.4% +63.7% YoY: Q2/2024 vs Q2/2023 QoQ: Q2/2024 vs Q1/2024 YoY: 1H/2024 vs
Slide 17: SG&A
SG&A SG&A AND SG&A TO REVENUE Million Baht, % 29.2% 28.4% 24.3% 29.4% 26.1% SG&A to Total Revenue +27.3% +23.5 % YoY YoY +8.2% QoQ 93.0 SG&A Expenses 75.4 Selling Expenses 40% 48.4 29% 44.7 38.0 38% 41% Administrative 31% 71% 60% Expenses 69% 62% 59% Q2/2023 Q1/2024 Q2/2024 1H/2023 YoY: Q2/2024 vs Q
Slide 18: Profitability: Net Profit
Profitability: Net Profit Net Profit and Net Profit Margin Million Baht, % 6.8% -2.1% -4.4% 2.9% -8.2% Net Profit Margin +228.0% YoY +191.7% +507.5% YoY QoQ 13.6 10.3 Net Profit (10.6) (3.3) (11.2) Q2/2023 Q1/2024 Q2/2024 1H/2023 1H/2024 +228.0% +507.5% +191.7% YoY: Q2/2024 vs Q2/2023 QoQ: Q2/2024 v
Slide 19: Statement of Financial Position
Statement of Financial Position Assets Liabilities & Shareholder’s Equity Million Baht, % +4.1% Million Baht, % +4.1% YoY YoY 1,392.8 1,392.8 1,337.4 1,337.4 222.0 16% Current 18% 284.6 20% 194.8 14% Current Assets 245.6 Liabilities 228.7 16% Non-current 210.8 16% Liabilities Non-current 1,091.8 82%
Slide 20: Key Financial Ratios
Key Financial Ratios Current Ratio D/E Ratio Debt Service Coverage Ratio* Times Times Times 1.00 0.48 0.48 0.93 3.12 1.31 1.28 0.36 0.56 Q2/2023 Q1/2024 Q2/2024 Q2/2023 Q1/2024 Q2/2024 Q2/2023 Q1/2024 Q2/2024 ROE* ROA* % % 2.70% 1.47% -2.20% -1.60% -1.14% -0.97% Q2/2023 Q1/2024 Q2/2024 Q2/2023 Q1/20
Slide 21: Agenda
Agenda COMPANY OVERVIEW KEY FINANCIAL PERFORMANCE STRATEGIC DIRECTION AND 2024 OUTLOOK 21
Slide 22: JSP Strategic Directions
JSP Strategic Directions 2027 Thailand’s Leading Innovative Pharmaceutical and Supplement Brand 2025 ✓ Ensuring Growth of Operating Capacity Leading Pharmaceuticals and ✓ Seeking Additional Strategic Partners and M&A Deals Supplements OEM in Thailand 2024 ✓ Operating at Full Capacity 2% Trading and
Slide 23: 2024 Company Strategies
2024 COMPANY STRATEGIES Growing Core OEM Business 1 Business Expansion Along the Value Chain • Sustaining Strong Growth from 5 Large OEM customers • Enhance Trading of medical • Continuous R&D for innovative devices and equipment products • Strengthening Service - Suphap Osot Saha Clinic to offer Th
Slide 24: Maximizing Capacity of JSP Facilities to Drive Top Line
Maximizing Capacity of JSP Facilities to Drive Top Line Maximizing Factory Capacity Strategies for Optimal Performance Capacity and Utilization Rate Unit: % Strategy 1: 20-25% Growing Core OEM 13% 14% 10% Business 1H/23 2H23 1H/24 2H/24 Target Rama 3 Factory 37-45% 31% Strategy 2: 26% 19% Going Beyo
Slide 25: Strategy 1 & 2 - Growing Core OEM and Going Beyond OEM
Strategy 1 - Growing Core OEM Business: Strong Growth from Large OEM Strategy 2 - Going Beyond OEM: Stepping Up to ODM, OBM OEM Revenue Target OEM and Going Beyond Unit: Million Baht Health Trendsetter Event Hosted by JSP Hosted a team of entrepreneurs in the health industry to exchange ideas on: •
Slide 26: Strategy 3 - Elevate Own-Brand Business
Strategy 3 - Elevate Own-Brand Business: JSP continues to strengthen its own brand Own Brand Revenue Target Own Brand Unit: Million Baht Own Brand Revenue Other Marketing Initiatives Unit: Million Baht Target Remaining Revenue 193 Revenue 40% from TV Home Shopping 60% Own Brand 79 70 Other 15 150 1H
Slide 27: Strategy 3 - Launching New Products in Collaboration with CDIP
Strategy 3 - Elevate Own-Brand Business: Launching New Products in Collaboration with CDIP Own Brand Revenue Target Own Brand Via Collab Unit: Million Baht Sales Channel ID LAB Innovative Product • Launching new product in March 2024 Call 193 • Developed by ID LAB Center • Manufactured by Caresutic
Slide 28: Strategy 4 - Strengthening Investment in Grace Water Med
Strategy 4 - Capture Opportunity Through Investments (1/2): Strengthening Investment in Grace Water Med Access to new customer 1. Diversify business 2. Plan to distribute 3. Enter Food Supplement segment: into a comprehensive hemodialysis drugs and and cosmetics for kidney Kidney Patients healthcare
Slide 29: Strategy 4 - Enhance Distribution Channels through Vending Machine
Strategy 4 - Capture Opportunity Through Investments (2/2): Enhance Distribution Channels through Vending Machine 2. Increase awareness New Distribution 1. Reach more about JSP branded 3. Strong growth via Channel consumer base franchise model products Medis Machine Medis Unit: Number of Vending Mac
Slide 30: Strategy 5 - Business Expansion Along the Value Chain
Strategy 5 - Business Expansion Along the Value Chain: JSP foresees large market opportunities along the value chain Trading and Others Increasing Selling Activities Industry - Thailand Dialysis Machine ✓ Medical device Unit : Numbers of Machine 16,060 ✓ Supplements ✓ Cosmetics for kidney Increasing
Slide 31: 2024 Outlook
2024 OUTLOOK OEM/ Trading Own-Brand Resume of Cough Medicine Strong contribution from corresponding to the return of 5% “Suphap-Osot” - remain top +10-1 Chinese tourists brand on TV home shopping ✓ Black Sesame Oil + Rice Bran Oil Increase the Sales of Grace Water ✓ 4 Mix Oil Med A-B solution for he
Slide 32: Thank You
THANK YOU Please scan to give us your feedback IR Contact Tel: 064 479 1691 Email: contact@jsppharma.com