E FOR L AIM PUBLIC COMPANY LIMITED March 31, 2016 FINANCIAL HIGH - - PowerPoint PPT Presentation

E FOR L AIM PUBLIC COMPANY LIMITED

March 31, 2016

FINANCIAL HIGH LIGHT

Mar 08, 2016 Paid-Up Capital (THB Million) 690.0 Par Value (THB/share) 0.075 Dividend Payout (%) >40% Free Float (%) 79.30% Book Value (THB/share) 0.14 Stock data 26-Week Range (THB) 1.17/0.50 Sector MAI P/E (x) 31.05 P/BV (x) 5.00

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DISCLAIMER

This presentation has been prepared by EFORL AIM PUBLIC COMPANY LIMITED (“EFORL”) and is circulated for the purpose of general information only, it is not intended for any specific person or purpose and does not constitute a recommendation regarding the securities of

• EFORL. No warranty (expressed of implied) is made to the accuracy or completeness of the information. All opinions and estimations included

in this report constitute our judgement as of this date and subject to change without prior notice. EFORL disclaims any responsibility or liability whatsoever arising which may be brought against or suffered by any person as a result of reliance upon the whole or any part of the contents of this presentation and neither EFORL nor any of its affiliated companies and their respective employees and agents accept liability for any errors, omissions, negligent or otherwise, in this presentation and any inaccuracy herein or omission here from which might other arise. Forward-looking Statements The information communicated in this presentation contains certain statements that are or may be forward looking. These statements typically contain words such as “will”, “expects” and “anticipates” and words of similar import. By their nature, forward looking statements involve a number of risks and uncertainties that could cause actual events or results to differ materially from those described in this presentation. Factors that could cause actual results to differ include, but are not limited to, economic, social and political conditions in Thailand, including environmental regulations and compliance costs; fluctuations in foreign currency exchange rates; interest rate trends, cost of capital and capital availability; the anticipated demand and selling prices for EFORL’s products and services; competition from other companies and venues; shifts in customer demands; changes in Cost of Goods Sold; changes in selling, general & administrative expenses, including employee wages, benefits and training, governmental and public policy changes; EFORL’s ability to be and remain competitive; EFORL’s of future receivables; ; Food and Drug Administration (“FDA”) and environmental compliance and remediation. Should one or more of these uncertainties or risks, among others, Medical tools and equipment cost, logistic cost, after-sales service cost, advertisement cost, materialize, actual results may vary materially from those estimated, anticipated or projected. Specifically, but without limitation. Although EFORL believes that the expectations

• f its management as reflected by such forward-looking statements are reasonable based on information currently available to us, no assurances

can be given that such expectations will prove to have been correct. You should duly rely on such statements. In any event, these statements speak only as of the date hereof, and EFORL undertakes no obligation to update or revise any of them, whether as a result of new information, future events or otherwise.

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GLOSSARY

EFORL E for L Aim Public Company Limited SPACEMED Spacemed Co., Ltd. SIAM SNAIL Siam Snail Co., Ltd. THAT’SO That’so Asia Corporation Co., Ltd. WCI Wuttisak Cosmetic Inter Co., Ltd. WCIG Wuttisak Clinic Intergroup Co., Ltd. WCIH WCI Holding Co., Ltd. WGI Wuttisak Grand Inter Co., Ltd. WPI Wuttisak Pharmacy Inter Co., Ltd. WS W.S. Surgery 2014 Co., Ltd. Wuttisak WCI Holding Co., Ltd. Group of companies

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EFORL GROUP OVERVIEW

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EFORL HISTORY

An EFORL former name is Absolute Impact

• PCL. , Established by Mr.Prin Chanatranond in

August with the paid-up capital THB 50 Million.

• The paid-up capital was raised to THB

920 Million by July.

• Mr.Teerawut was appointed as a CEO

and changed direction of the company to focus on Medical Product in August.

• Shifted the core business from media

advertising to medical health products and changed the name to “ E for L Aim” in September.

• Purchased 100% of Spacemed Co., Ltd.

in September.

• Purchased 18% of That’so Asia Corporation

Co., Ltd. in June.

• Set up WCIH with THB 1,000 million (and

Surplus THB 1,500 Million) synergies two groups of a partner (Founders and a Local Investment Fund) paid-up capital for purchase 100% of WCIG in September.

• With two groups of a partner, purchased all

shares of WCIG thorough WCIH in December.

• Purchased 51% of Siam Snail Co., Ltd., which has the

formal and solely license to produce/operate the special and concentric filtrate of snails from Chulalongkorn University Intellectual Property Institute (see www.cuipi.chula.ac.th. ) in June.

• Increase Siam Snail Co., Ltd. registered capital to

THB 20 Million in July.

• Divest in WCIH by sold out shares 9.83% for

reducing a Long-term debt burdens in September (Nine Million shares) and in October (8.8 Million shares). –Early Harvesting

• A Paradigm Shifts for ihealth products as the E-Health

total solutions On-line sales ( eforl.onlineshop.center ) in October.

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• Oct.19, 2015: EFORL appointed Mr.Kriangsak Prateepvisut

as Chief Financial Officer (CFO).

• Nov.28, 2015: Siam Snail Co., Ltd. had been granted Gold

Prize from Seoul International Invention 2015 at Seoul, Korea.

• Dec.24, 2015: WCIG at Siam square branch had

been accredited by Joint Commission International (JCI), which has evaluated the Ambulatory Care Organization and found it to meet the International Health Care Quality Standards for patient care and

• rganization management.
• Feb.3, 2016: WCIH was appointed to Maybank KimEng

Securities (Thailand) Plc. And CIMB Securities (Thailand) Co., Ltd. to be the Financial Advisory (FA) for funding and to be a listed company within Q3 of 2016.

• Feb.29, 2016: EFORL was appointed from BORSAM

Biomedical Instruments Co., Ltd. to be the solely and exclusive agent for selling Portable ECG machines thorough Thailand.

• Mar.30, 2016: Siam Snail had planned for a Grand Opening Snail

semi-natural farm at The Eastern Outskirt of Bangkok.

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EFORL GROUP

Spacemed

Siam Snail Co., Ltd.

100%

Spacemed Co., Ltd.

WCIH

WCI Holding Co., Ltd. That’s so Asia Corporation Co., Ltd. Wuttisak Clinic Inter Group Co., Ltd.

51% 50.17% 18%

WCI

Wuttisak Cosmetic Inter Co., Ltd.

99.97%

WPI

Wuttisak Pharmacy Inter Co., Ltd.

99.99%

WGI

Wuttisak Grand Inter Co., Ltd.

99.97%

WSS

W.S. Surgery 2014 Co., Ltd.

99.98% 100% Healthy Food Healthy Drinks Beauty Services

Updated as of October 2015

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EFORL GROUP MEDICAL EQUIPMENT EFORL SPACEMED BEAUTY CLINIC WCIG COSMETIC SIAM SNAIL WCI

Revenue (MB.)** Y2015 Y2014 4,504 1,450 Revenue (MB.)** Y2015 Y2014 1,911 1,181 Revenue (MB.)** Y2015 Y2014 2,587 276

**See Page No.63, EFORL AUDITED REPORT 2015 Thai Version

211% 62% 837%

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INDUSTRY OVERVIEW 10

FORECAST GDP GROWTH

Sources : 1/ Bank of Thailand 2/ World Bank 3/ CIMB THAI, Research Office (Oct.6, 2015)

2014 2015F1 2016F1 2015F2 2016F2 2015F3 2016F3 GDP 0.9 3.0 4.1 3.5 4.0 2.5 3.3

Sources : World Bank, retrieved date Oct.08, 2015.

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HEALTH CARE INDUSTRY OVERVIEW: LINKAGE WITH GDP PLUS THE AGING SOCIETY TREND

• Electricity Gas & Water Supply 9%
• Hotel & Restaurants 10%
• Public Admins & Social Security 6%
• Healthcare 4%
• Wholesale & Retail 35%
• Transportation 25%
• Education 6%
• Others 5%

 Healthcare industry accounts for approximately 4% of the country’s GDP.  Taking sales into discount, medical device and equipment account for 10% (approx.) of total Healthcare industry, so the total medical device and equipment account for 0.4% of country’s GDP.

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KEY FINDINGS

 Health expense is directly linked with country’s GDP.  The amount per person on health care spending substantially surges in the middle class. Likewise, the inevitable rise in aging people will directly affect the health industry due to the transition shift in structural changes.  Health promotion on its aim to be the centered among Southeast Asian neighborhoods will be implement from 2014-2018/

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GROWTH DRIVERS

Healthcare industry possesses a positive outlook given the aging society, coming AEC consolidation, Thailand pinned as a medical hub, and strong growth of medical tourism. Aging Society: The inevitably rising population has led to

substantial increase in health care spending. Thailand society demographics tend to change gradually to aging society.

Thailand Medical Hub:

Benefited from government campaign and development to promote medical industry & health service, Thailand will be highlighted and reinforced the potential integrative flow of international mainstreams to health service. Thereby, we foresee that Thailand GDP on health sector will increase.

AEC in 2016: The liberalization of the services sector

under the AEC allows foreign investors to hold more than a 70% stake in healthcare sector, leading to increase an efficiency of medical industry.

Strong growth in Medical Tourism: Medical tourism in

Thailand is growing at a yearly rate of 16%, while in financial terms the foreign medical services sector is expected to make a whopping THB 100 billion by 2015.

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COUNTRY HEALTHCARE INDUSTRY COMPARED TO GDP

Given much-lower-than-average health spending compared to GDP, Thai market’s healthcare industry still has big room for rapid growth.

The healthcare industry has a big room to growth compared to the world average. Assuming the health expenditure per GDP increases to 6.50% as world’s average, the market size of medical product and equipment increase approximately THB 29 billion.

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EFORL’S PRODUCT RANGE

• IMPORTED MEDICAL DEVICE BY TYPE (THB MILLION)

2010 2011 2012

3 Yr- CAGR (%)

General Supply 9,407 11,363 14,555 24% Diagnostic & Therapeutic Equipment for internal medicine 8,075 10,051 11,327 18% Diagnostic imaging and radiotherapy 3,751 4,067 6,180 28% Orthopedic, orthosis and disability aids 1,890 2,053 2,415 13% Surgery 1,947 721 835

• 35%

Laboratory 792 851 1,059 16% Dental 1,947 2,525 2,535 14% Ophthalmothogy 7,704 8,236 8,630 24% General Equipment 597 787 1,086 35% Medical Logistics and patient ward 412 709 785 38% Total 36,522 41,363 49,407 16%16

COMPANY OVERVIEW 17

A Company Turnaround Reward (2013) and Research-Covered Reward (2014) from MAI

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FINANCIAL INFORMATION

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FINANCIAL DATA

Statement of Financial Position (MB.) Year End of 2015 Year End of 2014 Year End of 2013

Cash 122.46 339.44 641.26 A/R Net 711.25 488.25 65.69 Inventories 726.76 553.52 103.52 Current Assets 1,619.40 1,605.53 815.57 PP&E Net 921.91 1,028.37 15.44 Total Assets 7,305.49 7,366.28 840.99 O/D 467.01 45.57

• A/P Net

664.69 446.86 138.57 Current portion of LT 763.98 1,035.53 0.24 Current Liabilities 2,559.24 2,433.45 141.38 Non-Current Liabilities 1,748.24 2,983.60 1.84 Total Liabilities 4,307.47 5,417.06 143.22 Authorized Capital 1,035.00 1,035.00 1,380.00 Paid-Up Capital 690.00 690.00 920.00 Premium (Discount) on Share Capital 29.84

• 1.80

Other Surplus (Deficit) 216.82 29.84 Retained Earnings (Deficit) 368.47 218.66 (224.03) Treasury Stock

• Shareholder’s Equity

1,305.13 938.50 697.78 Minority Interest 1,692.89 1,010.72

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FINANCIAL DATA

Statement of Comprehensive Income (MB.) Year 2015 Year 2014 Year 2013 Sales 4,503.93 1,450.25 158.23 Other Income 26.10 39.96 12.54 Total Revenues 4,530.03 1,490.21 170.76 COGs 3,212.52 942.71 103.58 SG&A 726.40 241.68 32.81 Total Expenses 3,938.92 1,184.40 142.59 EBITDA 843.23 339.50 46.49

• Depre. & Amor.

252.13 33.68 18.31 EBIT 591.11 305.82 28.18 Net Profit 210.39 240.73 26.46 EPS (Baht) 0.02 0.03 0.00

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FINANCIAL DATA

Statement of Cash Flow (MB.) Year 2015 Year 2014 Year 2013 Opening Cash Flow 74.95 (122.60) 0.25 Investing Cash Flow 865.90 (3,646.53) (4.44) Financing Cash Flow (1,157.83) 3,467.30 635.96 Net Cash Flow (216.98) (301.82) 631.77

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FINANCIAL DATA

Ratios Year 2015 Year 2014 Year 2013 Current Ratio (X) 0.63 0.66 5.77 ROE (%) 18.75 29.42 7.26 ROA (%) 8.06 7.45 6.25 D/E (X) 3.30 5.77 0.21 Total Asset Turnover (X) 0.62 0.36 0.38 Gross Profit Margin (%) 28.67 35.00 34.54 EBIT Margin (%) 13.05 20.52 16.50 Net Profit Margin (%) 4.64 16.15 15.49

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FINANCIAL DATA

Growth Rate (%) Year 2015 Year 2014 Year 2013 Sales Growth 210.56 816.56 104.14 COGs Growth 240.77 810.16 35.95 Total Revenue Growth 203.99 772.67 95.82 Total Expense Growth 232.57 730.64 (5.86) Net Profit Growth (12.60) 809.89 N/A

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FINANCIAL DATA

Cash Cycle Year 2015 Year 2014 Year 2013 A/R Turnover (Times) 7.51 5.24 4.17

• Avg. Collection Period (Days)

48.60 69.71 87.49 Inventory Turnover (Times) 5.02 2.87 1.00

• Avg. Inventory Period (Days)

72.73 127.2 364.81 A/P Turnover (Times) 5.78 3.22 1.29

• Avg. Payment Period (Days)

63.15 113.33 283.60 Cash Cycle (Days) 58.19 83.57 168.70

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WUTTISAK HISTORY

Opened the 1st clinic in Ngam Wong Wan as “Wuttisak Clinic” Incorporation of Wuttisak Clinic Group PCL Diversified into health drink products and pharmacy outlets

• The 1st oversea

expansion moves with a clinic opening in Laos under franchise model.

• Reached 100

branches in Thailand Founders and A Foreign investment funds set up WCIG in February to acquire assets of Wuttisak Clinic Group Public Company Limited/1 /1 Post asset acquisition by WCIG, Wuttisak Clinic Group PCL was dissolved.

• Reached 120 branches in

Thailand.

• Extended its footprint in

Cambodia, Laos, Myanmar and Vietnam under franchise model.

• Established WCIH in November.
• EFORL and founders buy out WCIG from A Foreign

investment funds and changed management structure to improve operational efficiency.

• Added competitive advantage from

EFORL’s access to advanced medical equipment for use in treatments.

• Exclusive rights for the commercialization
• f secretion from Siam Snail Co., Ltd..

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WUTTISAK CLINIC INTER GROUP CO., LTD. AND THE SUBSIDIARIES.

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TWELVE BRANCHES IN CLMV*

* CLMV = CAMBODIA, LAOS, MYANMAR & VIETNAM Four branches in Laos (LPDR)

 Vientiane (1)  Pakse (1)  Savannakhet (1)  Luang Prabang (1)

Four branches in Cambodia

 Phnom Penh (3)  Siem Reap (1)

Two branches in Myanmar

 Rangoon (2)

120 branches spread thorough The Kingdom of Thailand  Bangkok and outskirt 54 branches (45%)  Up-country 66 branches (55%) Two branches in Viet Nam

 Ho Chi Minh (2)

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