Presentation November 2019 Agenda Project updates Financial - - PowerPoint PPT Presentation

3Q19 Results Briefing Presentation

November 2019

• Project updates
• Financial Information

Agenda

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Hospital business

3

Revenue from domestic hospitals increased from new revenue stream.

• Revenue growth was mainly from

new hospital, Thonburi Bamrungmuang.

• Main existing ones slightly increased,

driven by Thonburi 2 Hospital.

+21% YoY +20% QoQ

1,555 1,462 1,486 1,567 1,883 3Q18 4Q18 1Q19 2Q19 3Q19

Grand opening of Thonburi Thungsong Hospital

4

Thonburi Bamrungmuang Hospital

• Grand opening in Jan 19, with dental, Premium Checkup and Diabetic Wound Care centers
• OPD pay per bill approx. THB10,000
• IPD pay per bed day approx. THB48,000
• THB turned profit in 3Q19.

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Diabetic Wound Care Center Digital Dental Center IVF Reproductive Center

• Ar Yu Hospital operation reached EBITDA breakeven

in 3Q19.

• More Thai doctors visit patients in Myanmar.
• Average OPD patient/day approx. 220 patients
• IPD patient occupancy 35-45 beds

Ar Yu International Hospital

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3Q18 3Q19

Welly Hospital

• The hospital is ramping up patient volume and revenue, aiming for EBITDA break even in 2019.
• Average OPD patients are approx. 300/day and IPD occupancy are > 70/day.

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Revenue OPD patients IPD bed days

3Q18 3Q19 OPD Revenue IPD Revenue 3Q18 3Q19

119 111 109 110 110 3Q18 4Q18 1Q19 2Q19 3Q19

Hospital Management & Heart Center

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• 7.6% YoY no change QoQ
• Revenue dropped YoY because
• verseas contracts ended.
• There are some projects in the

pipeline with clients in SEA.

Revenue from hospital management +8.3% YoY +11% QoQ Revenue from heart center

• Revenue grew mainly from

Phathalung site.

• Thonburi 2 was approved to

treat referred patients under Universal Health Coverage.

72 92 56 70 78 3Q18 4Q18 1Q19 2Q19 3Q19

Jin Wellbeing County - progress

2019 target 200 unit transfer

150 units sold 102 units transferred since 4Q18 48 units backlog 100% completion

as at end of 3Q19

• Jin Wellness Clinic started
• peration at Bamrungmuang

Hospital.

• It serves as a gateway for Jin’s

potential clients.

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Jin Wellbeing County – Services & Promotion

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Financial information

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8 7 3 4 1 97 211 218 258 163 1,749 1,665 1,651 1,747 2,071 3Q18 4Q18 1Q19 2Q19 3Q19 Others Healthcare solution provider Medical service

3Q19 Financial Performance

Total revenue (mn THB)

+21% YoY

Medical service +18% YoY

• Revenue growth was mainly from sales of Jin Wellbeing County and Thonburi Bamrungmuang Hospital.

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1,854 1,883 1,872 2,009 2,235

16 8 281 639 4,914 5,469 9M18 9M19

+17% YoY

Medical service +11% YoY

3Q19 Financial Performance

Gross profit (mn THB)

+19% YoY

EBITDA (mn THB) Net profit-parent (mn THB)

+36% YoY +211% YoY

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Note: Net special items refer to 1) profit from disposal of Ratchthanee Rojjana - 1Q18 2) Other revenue from write-off of long stand tax payable - 1Q18 3) reserve for employee’s benefits – 2Q19 4) profit from disposal of RJH – 2Q19

517 485 447 348 615 27.9% 25.8% 23.9% 17.3% 27.5% 3Q18 4Q18 1Q19 2Q19 3Q19 Gross Profit GP Margin 300 197 188 476 408 16.2% 10.5% 10.0% 14.6% 18.3% 3Q18 4Q18 1Q19 2Q19 3Q19 EBITDA EBITDA Margin 96 22 8 224 148 5.2% 1.2% 0.4% 5.8% 6.6% 3Q18 4Q18 1Q19 2Q19 3Q19 Net Profit -Parent NP Margin 1,424 1,410 27.3% 23.1% 9M18 9M19 Gross Profit GP Margin

• 1% YoY

816 889 81 183 9M18 9M19 EBITDA net special items

+8.9% YoY

• ex. special items

261 229 65 151 9M18 9M19 Net Profit -Parent net special items

• 12% YoY
• ex. special items

3Q19 Operational statistics – TH1, TH2, RYD

Revenue mix – OPD vs IPD Revenue breakdown by payors – 3Q19 OPD utilization IPD utilization

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45% 44% 45% 47% 44% 55% 56% 55% 53% 56% 3Q18 4Q18 1Q19 2Q19 3Q19 % OPD Revenue % IPD Revenue 76% 18% 6% 0% Self pay Insurance Corporate Others 64% 58% 59% 58% 64% 3Q18 4Q18 1Q19 2Q19 3Q19 72% 66% 66% 60% 73% 3Q18 4Q18 1Q19 2Q19 3Q19

2,501 2,523 2,546 2,532 2,495 3Q18 4Q18 1Q19 2Q19 3Q19 3Q18 4Q18 1Q19 2Q19 3Q19 TH1 TH2 RYD 3Q18 4Q18 1Q19 2Q19 3Q19 TH1 TH2 RYD

Pay per sequence (baht) Pay per bed day (baht) OPD sequence (‘000 sequences) IPD occupancy (‘000 bed days)

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3Q19 Operational statistics – TH1, TH2, RYD

• 0.2% YoY

+1.9% YoY +0.7% YoY

• 0.1% YoY
• Approx. THB3,000 for TH1 and THB1,800 for RYD and TH2
• Approx. THB22,000 – 23,000 for TH2 and TH1,

and THB12,000 for RYD

278 43 257 41 252 38 251 33 280 43

20,241 19,925 20,316 21,879 20,634 3Q18 4Q18 1Q19 2Q19 3Q19

18% 23% 59% 20% 29% 51% 3Q19 IBD Interest 2018 IBD Interest

3Q19 Capital management

Gearing ratio Interest coverage ratio (x) Capital structure (mn Baht) Dividend

On 13 Aug 19, BoD approved Interim dividend payment for 1H19 performance

THB 0.10/share XD date 27 Aug 19 Payment date 12 Sep 19

Dividend policy: not less than 40% of net profit

Equity LT loan 3Q19 4Q18 IBD/EBITDA (x) D/E (x)

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ST Loan

DSCR ratio (x)

3,052 3,144 39

4Q18

4,278 4,322 57

0.6 1.1 1.1 1.3 1.3 3.2 5.7 7.9 7.0 9.8 2017 2018 1Q19 2Q19 3Q19 5.3 4.4 2.9 3.8 4.3 2017 2018 1Q19 2Q19 3Q19 4.4 2.0 1.4 1.5 1.7 2017 2018 1Q19 2Q19 3Q19

CapEx Plan

CapEx (MB) Project 2018 1H2019 (A) 2H2019 (E) 2020 (E) 2021 (E) 4 Yr Thonburi Hospital

• 100
• 850

400 1,350 Thonburi 2 Hospital

• 100
• 340

200 640 Thonburi Bamrungmuang 750 880 170 100 1,900 Jin Wellbeing County 1,000 400 500

• 1,900

Thonburi Health Village 300 50 50 280 680 Total 2,050 1,530 720 1,570 600

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For more information, please contact IR department. Email: ariya.si@thg.co.th Tel: +6695-3705728

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