Vibhavadi Medical Center Public Co. Ltd. · SET:VIBHA
Vibhavadi Medical Center Public — Q1 2024 Earnings Presentation
32 slides from Vibhavadi Medical Center Public's earnings presentation, Jun 5, 2024
Slide 1: Opportunity Day Q1/2024
Opportunity Day ice HOSPITAL Isywaunadmod vadihospital Q1/2024 nulo...AlAaianru Proud to take care of your Health Grainne UiivaMond UNbEeD veriTeNeNt uveUALIeD,
Slide 2: Disclaimers
DISCLAIMERS The information contained in this presentation is for information purposes only. This presentation contains forward looking statements which reflect management’s current views and estimates. The forward-looking statements involve certain risks and uncertainties that could cause actual re
Slide 3: Milestones
MILESTONES JV with VIBHARAM hospital group, Acquisition of targeting middle- CMR hospital 19 income 20 group, largest 20 92 population and 09 market share in 14 Establishment of Social Security the Northern part the company Segment of Thailand Establishment of subsidiaries in 19 20 20 hair transplan
Slide 4: Table of Contents
TABLE OF CONTENTS 01 BUSINESS OVERVIEW 02 Q1/2024 OVERVIEW FINANCIAL PERFORMANCE & 03 OPERATIONAL STATISTICS 04 UPCOMING TRENDS 4
Slide 5: Group Structure
GROUP STRUCTURE Code Hospital City Ownership # beds SSO Code Company Business Ownership Parent VIBHA Vibhavadi BKK 100.00% 258 N LANNA Lanna CMI 82.57% 330 Y Beauty Design Hair BDC 46.25% CMH Chiangmai Ram CMI 46.54% 220 N Center transplant TPY Theppanya 1&2 CMI 46.54% 170 Y VPRE V Precision Anti-ag
Slide 6: Group Structure: Vibharam Group (VBR)
GROUP STRUCTURE Vibharam Group (VBR) Hospital City Share held by Ownership # beds SSO HQ Vibharam Pattanakarn Bangkok - 100.00% 150 Y Vibharam Laemchabang Chonburi - 100.00% 100 Y Branch Vibharam Samutsakhon Sumutsakhon - 100.00% 100 Y Sirinart Buengkum (closed) Bangkok - 100.00% - N Vibharam Samutp
Slide 7: Geographic Locations
20 Hospitals : 2,620 beds 6,000+ nurses 6,500+ doctors 18,000+ staff GEOGRAPHIC LOCATIONS CMR Group (Subsidiary) Vibhavadi Hospital : VIBHA (258 beds) Vibharam Group : VBR (Associate) Bangpo General Hospital : BP LANNA Lanna Hospital (Associate) (100 beds) Vibharam Pattanakarn H. CMH Chiangmai Ram S
Slide 8: Patient Mix Diversification
PATIENT MIX DIVERSIFICATION International Target Patient/Purchasing Power High income VIBHA BP CMR Group Middle income VBR Group SSO & UCEP Secondary Tertiary Super Tertiary Medical Sophistication 9
Slide 9: Shareholders
SHAREHOLDERS % Shareholding Top 10 Shareholders’ Names Shareholding ratio 15.35% F&S 79 COMPANY LIMITED 15.01% MR. CHAISITH VIRIYAMETTAKUL 8.93% SYNPHAET HOSPITAL PUBLIC COMPANY LIMITED 7.09% RAMKHAMHAENG HOSPITAL PUBLIC COMPANY LIMITED 5.93% CHAO PHYA HOSPITAL PUBLIC COMPANY LIMITED 4.69% MR. PISUT
Slide 10: Shareholding structure chart
8.93% | 10% 47.09% | 6.24% > 10% Synphaet « » tanakarn 16.77% W-14,70% % 20% 49.99%, Cancer Center _Amatanakorn 88.46% [a 99.48% 86.70% \ I HARI so 175% | 3) SF 0.75% Subsidiary 30% Associate Other investment Listed company Hospital Update : May 2024 Hospital with SSO | Natinee Chumnankijkosot 2-way
Slide 11: Table of Contents
TABLE OF CONTENTS 01 BUSINESS OVERVIEW 02 Q1/2024 OVERVIEW FINANCIAL PERFORMANCE 03 & OPERATIONAL STATISTICS 04 UPCOMING TRENDS 12
Slide 12: Q1/2024 Financial Summary
Q1/2024 FINANCIAL SUMMARY 13.4% TOTAL REVENUE NET PROFIT 2,500 2,257 BDC 2.1%, MDC 0.0%, VP 0.9% 1,989 Company % of Conso % Change 2,000 VIBHA 50.2% + 95.4% 1,500 VIBHA 35.1% CMR 38.7% + 8.9% 1,000 36.0% 655 56.0% CMR BDC 1.9% + 4770.1% 485 500 339 61.0% 217 MDC -0.1% + 19.4% - Total Revenue E
Slide 13: Financial Performance Trends
FINANCIAL PERFORMANCE TRENDS Net profit EBITDA Operating income Investment income Net Total revenue Permanent investment income profit EBITDA Total Revenue Permanent Temporary Extra Temporary investment income Q1 '24 339 570 2,172 63 22 Q4 '23 301 464 2,173 92 58 Q3 '23 361 588 2,215 81 9 Q2 '23 195
Slide 14: Table of Contents
TABLE OF CONTENTS 01 BUSINESS OVERVIEW 02 Q1/2024 OVERVIEW FINANCIAL PERFORMANCE & 03 OPERATIONAL STATISTICS 04 UPCOMING TRENDS
Slide 15: Revenue Components – Conso (by Type of Service)
REVENUE COMPONENTS – CONSO [BY TYPE OF SERVICE] Millions Other income 2,600 Gain (loss) on revaluation of investments 2,200 Gain on reclassification of investments 1,800 Dividend income Gain (loss) on sale of investments 1,400 Rental and service income 1,000 Vaccine Moderna 600 Medical treatment (Co
Slide 16: Net Profit Components – Conso (by Company)
NET PROFIT COMPONENTS – CONSO [BY COMPANY] Millions Elimination 600 Share profit from associates 500 Other subsidiaries CMR 400 VIBHA 300 200 100 0 (100) Y 2022 Y 2023 Q1 ’22 Q2 ’22 Q3 ’22 Q4 ’22 Q1 ’23 Q2 ’23 Q3 ‘23 Q4 ’23 Q1 ‘24 Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 20
Slide 17: Share Profit from Associates
SHARE PROFIT FROM ASSOCIATES 5th Wave Covid-19 88.19 92.24 4th Wave 1st Wave Q2 ’20 62.94 2nd Wave Q1 ’21 3rd Wave Q3 ’21 26.70 13.64 16.48 4th Wave Q3 ’22 5.78 5th Wave Q2 ‘23 (29.06) (unit : million baht) (40.75) Y2022 Y2023 Q1Q1 2022 ’22 Q2Q2 2022 ’22 Q3Q3 2022 ’22 Q4Q4 2022 ’22 Q1Q1 20
Slide 18: Dividend Income
DIVIDEND INCOME (unit : million baht) Year Quarter VIBHA CMR BDC CONSO 1 29.83 35.31 - 65.14 2 119.28 0.84 - 120.12 2022 3 63.60 24.21 - 87.81 4 81.22 21.68 - 102.90 Total 293.93 82.04 - 375.97 1 44.74 52.15 0.31 97.20 Q1 2022 Q1 2023 Q1 2024 2 86.16 3.51 0.30 89.96 2023 3 53.89 26.78 0.36 81.03 4 7
Slide 19: Dividend Income Source
DIVIDEND INCOME SOURCE PERIOD Q1’22 Q2’22 Q3’22 Q4’22 Y 2022 Q1’23 Q2’23 Q3’23 Q4’23 Y 2023 Q1’24 RAM 64.32 - 40.20 40.22 144.74 96.48 - 48.24 32.16 176.88 64.44 SKR - 36.77 24.51 - 61.28 - 23.74 26.72 - 50.47 - TNH - - - 16.60 16.60 - - - 17.44 17.44 - BCH - 20.70 10.60 - 31.30 - 13.20 3.30 - 16.50
Slide 20: VIBHA - Investment in Listed Shares [SET]
VIBHA - INVESTMENT IN LISTED SHARES [SET] (unit : thousand baht) RICHY STA As of 31 March 2024 DCC 1.09% 3.26% Net amount invested Market value Record Symbol Gain/(loss) 6.30% during Q1/2024 @28/5/24 to Investment cost Ownership CGH 1.31% RAM 6,111 4.4% 2,110,697 6.24% 2,246,960 136,263 SKR 34,451 2
Slide 21: VIBHA - Investment in Non-Listed Shares
VIBHA - INVESTMENT IN NON-LISTED SHARES Thousand baht Baht Serirak H. As of Nawanakorn Innovation Symbol Cost per EPS Dividend per share 1.07% 4.67% 31 December 2023 1.93% share Y2023 Cost Ownership Fair value Y2022 Y2023 Thonburi Chaophya H. Rangsit H. Synphaet Hospital 589,000 10.00% 1,028,000 50.
Slide 22: Patient Trends [VIBHA & CMR]
PATIENT TRENDS [VIBHA & CMR] (unit : thousand baht) VIBHA CMR General General SSO 300 300 300 200 200 200 100 100 100 OPD 0 0 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Y2020 Y2021 Y2022 Y2020 Y2021 Y2022 Y2020 Y2021 Y2022 Y2023 Y2024 Y2023 Y2024 Y2023 Y2024 15 15 15 10 10 10 5 5 5 IPD 0 0 0 Q1 Q2 Q3 Q4
Slide 23: Patient Trends [VBR]
PATIENT TRENDS [VBR] (unit : thousand baht) General SSO 400 400 300 300 200 200 OPD 100 100 0 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Y2021 Y2022 Y2023 Y2024 Y2021 Y2022 Y2023 Y2024 40 8 30 6 20 4 IPD 10 2 0 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Y2021 Y2022 Y2023 Y2024 Y2021 Y2022 Y2023 Y2024 27
Slide 24: Registered SSO Insurers
REGISTERED SSO INSURERS CMR VBR 250,000 180,000 160,000 200,000 140,000 120,000 150,000 100,000 100,000 80,000 60,000 50,000 40,000 20,000 - - Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 '22 '22 '22 '22 '23 '23 '23 '23 '24 '22 '22 '22 '22 '23 '23 '23 '23 '24 Pattanakarn Laemchabang Samutsa
Slide 25: Financial Data
FINANCIAL DATA (unit : million baht) Year/Period YE2018 YE2019 YE2020 YE2021 YE2022 YE2023 Q1/2024 Assets 15,547 19,630 21,175 28,427 30,923 27,814 27,209.16 Liabilities 6,172 9,258 10,441 13,170 12,713 11,595 11,493.28 Equity (attributable to owners of the 7,107 7,789 8,171 12,184 14,392 12,886 12,
Slide 26: Financial Ratio
FINANCIAL RATIO Year/Period YE2018 YE2019 YE2020 YE2021 YE2022 YE2023* Q1/2024* ROA (%) 7.97 7.96 4.24 9.66 7.29 5.37 6.16 ROE (%) 10.25 10.86 5.64 17.74 9.96 6.34 7.66 Net Profit (%) 13.18 14.45 8.50 24.78 17.34 12.38 15.16 Market Capital 26,399 23,744 19,657 35,840 36,927 24,301.06 29,324.18 (mill
Slide 27: Table of Contents
TABLE OF CONTENTS 01 BUSINESS OVERVIEW 02 Q1/2024 OVERVIEW FINANCIAL PERFORMANCE & 03 OPERATIONAL STATISTICS 04 UPCOMING TRENDS
Slide 28: Ongoing Projects [Vibhavadi]
ONGOING PROJECTS [VIBHAVADI] Project name : Vibhavadi Rama 2 Project name : Treasury Stock 5-fl. building Period : Mar 4 – Sep 4, 2024 Budget : 1,200 million baht Maximum shares : 540 million shares 2-fl. building % of issued shares : 3.98% Share purchased : 48,400,000 shares (until 31/05/24) % of i
Slide 29: Ongoing Projects [VBR Group]
ONGOING PROJECTS [VBR GROUP] Branch Area Estimated cost Note Progress (sq m.) Pattanakarn 34,000 550mb Completed Opened on May 2 Laemchabang 34,000 690mb ER, OPD, car park, Bldg. A 60% hospital building Bldg. B 98% Bldg. C 98% Bldg. D (EIA process) Pattanakarn Amatanakorn 34,000 600mb 14 fl. buildin
Slide 30: Future Projects
FUTURE PROJECTS Branch Area (sq.m) Estimated cost Note Onnut 53,000 1,000mb On hold Borwin 19,000 400mb EIA Project Submission in process Amatanakorn 2 20,000 800mb EIA Project Submission in process (Phanat Nikhom) Onnut Amatanakorn 2 Borwin 34
Slide 31: What to Expect
WHAT TO EXPECT NEXT QUARTER THIS YEAR In Q2’24, we expect as follows; In 2024, we expect the total net income to VIBHA: net income to be relatively higher QoQ, and significantly be significantly higher than 2023 because of the following reasons; higher YoY because of ▪ low dividend income recorded i
Slide 32: Thanks!
THANKS! Vibhavadi Hospital +66 2 561 1111 # 2444 corporateaccounting@vibhavadi.com www.vibhavadi.com www.facebook.com/hospital4 @VibhavadiHospital 36
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