Rajthanee Hospital Public Company Limited 1Q 2019 Result Investor Presentation : June 2019
Agenda 1. Summary and Updates 4 2. Business Overview 6 3. Financial Performance 13 4. Strategies & Future Projects 25 2
Disclaimer The information contained in this presentation is for information purposes only and does not constitute an offer or invitation to sell or the solicitation of an offer or invitation to purchase or subscribe for share in Rajthanee Hospital Public Company Limited (“RJH” and shares in RJH, “shares”) in any jurisdiction nor should it or any part of it form the basis of, or be relied upon in any connection with, any contract or commitment whatsoever. This presentation may include information which is forward-looking in nature. Forward-looking information involve known and unknown risks, uncertainties and other factors which may impact on the actual outcomes, including economic conditions in the markets in which RJH operates and general achievement of RJH business forecasts, which will cause the actual results, performance or achievements of RJH to differ, perhaps materially, from the results, performance or achievements expressed or implied in this presentation. This presentation has been prepared by RJH. The information in this presentation has not been independently verified. No representation, warranty, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information and opinions in this presentation. None of RJH or any of its agents or advisers, or any of their respective affiliates, advisers or representatives, shall have any liability (in negligence or otherwise) for any loss whatsoever arising from any use of this presentation or its contents or otherwise arising in connection with this presentation. This presentation is made, furnished and distributed for information purposes only. No part of this presentation shall be relied upon directly or indirectly for any investment decision-making or for any other purposes. This presentation and all other information, materials or documents provided in connection therewith, shall not, either in whole or in part, be reproduced, redistributed or made available to any other person, save in strict compliance with all applicable laws. 3
01 Summary and Updates
Company Profile Our History Rajthanee Hospital Public Company Limited (“RJH”) was established in 1990 and commenced its operations in 1992 under the management of experienced physicians. Most of which graduated from Siriraj Medical School and are currently major shareholders of RJH. Business Overview 2 private general hospitals, namely Rajthanee Hospital and Rajthanee Rojana Hospital (“RRH”), located in Phra Nakhon Si Ayutthaya District and Bang Pa-In District, respectively, as part of Ayutthaya Province Target Customers Mid-to-low income patients and social security patients • Non-Social Security revenue : Social Security revenue proportions are 57 : 43 and 56:44 in 2018 • and 1Q’ 2019 Capacity 353 registered hospital beds, 250 beds in service , 67 OPD units and 47 Hemodialysis units Excellent Medical Centers Emergency and Neurosurgery Center • Heart Center • Minimal Invasive Surgery (MIS) • Orthopedics Center • MRI Center • Financial Performances Total revenue from hospital operations 2016–2018 : THB 1,209.5 MB., 1,403.1 MB. and 1,587.4 MB. respectively +15.7% CAGR • 1 Q’ 2019 : THB 445.9 M, +16.4% growth yoy. • Future Projects New Hemodialysis Center • Bed service expansion • Renovation and expansion of OPD examination • New hospital building • 5
02 Business Overview
Business Characteristics Rajthanee Hospital (RJH) Rajthanee Rojana Hospital (RRH) 7 Rajthanee Hospital Public Company Limited Rajthanee Rojana Hospital Company Limited Registered hospital beds 253 beds Registered hospital beds 100 beds 212 beds 3 8 beds Beds in service Beds in service OPD units 57 rooms OPD units 10 rooms Hemodialysis units 27 beds Hemodialysis units 20 beds 26,038 Number of the insured persons 160,574 Number of the insured persons Quota of the insured persons 35,000 Quota of the insured persons 161,000 8 / 33 4 5 / 1 90 Full-time / Part-time physicians Full-time / Part-time physicians 176 Nurses 28 Nurses 7 As of Mar. 31, 2018
No.1 Hospital in Ayutthaya Ayutthaya Province : Large population and economy with increasing healthcare • spending Locations of major industrial estates and industrial parks: • 3 industrial estates: Ban Wa (Hi-Tech) Industrial Estate, Bang Pa-in Industrial Estate and Saha Rattana Nakorn Industrial Estate 5 2 industrial parks: Rojana Industrial Park and Factory Land Wangnoi Industrial Park Rajthanee Hospital 1 2 4 Rajthanee Rojana RJH as the leading private hospital group in Ayutthaya: Hospital The first and biggest private hospital in Ayutthaya and nearby • provinces celebrating 27 years of business 3 Capture 50% market share of Ayutthaya’s Social Security • insurers Reputable medical staff and medical services of good quality • and standard Social No. of Gov’t/ No. Hospitals Locations Security Registered Private Scheme Beds Phra Nakhon Si Ayutthaya 1 Phra Nakorn Sri Ayutthaya Gov’t 528 District 2 Sena Hospital Gov’t Sena District 180 3 Karunvej Ayutthaya Hospital Private Bang Pa-in District 105 4 Supamitrsena General Hospital Private Sena District - 100 Phra Nakhon Si Ayutthaya 5 Peravech Hospital Private - 5 3 District 8
Social Security Sector’s Outlook Number of Insured Persons (Sector 33 & 39) 4.349 Contributing 2.81% of the nationwide number (13 million) • Ranked 8 th out of 77 provinces • 0.914 0.845 0.532 0.490 0.468 0.413 0.369 0.326 0.303 Bangkok Samut Chon Buri Pathum Samut Rayong Nonthaburi Ayutthaya Chiang Mai Nakhon Prakan Thani Sakhon Ratchasima 6,433 9,413 9,272 11,236 16,599 16,994 18,184 23,962 24,892 Number of Employers 153,810 9 Source: Social Security Office ; data as of May 31, 2019
Ayutthaya’s Healthcare Industry Outlook Insured Persons (S 33 + S 39) RJH's Insured Persons RJH Market Share % 379,287 369,210 362,798 353,862 353,147 351,641 51% 46% 45% 43% 41% 38% 2014 2015 2016 2017 2018 May-19 10 Source: Social Security Office ; data as of May 31, 2019
Ayutthaya’s Healthcare Industry Outlook No. of Employers Growth 6.04% 3.35% 1.94% 1.25% 1.16% 0.91% 6,433 6,375 6,012 5,817 5,745 5,679 2014 2015 2016 2017 2018 May-19 11 Source: Social Security Office ; data as of May 31, 2019
Revenue Structure under Social Security Scheme Revenue Structure 2 3 1 Per Special Fixed Capitation Payment Statistics-based Payment Medical Services Base Payment (Fixed) OPD only 26 IPD OPD Chronic Diseases 1,500 THB / Head / Year AdjRW > 2 Customer Complaints : 60 THB 12 ,800 Subject to / Head / Year THB / RW Nationwide Budget Discharge Type: 60 THB / Head / Year 12
03 Financial Performance
Revenue Breakdown By Patient Type OPD 28% 28% IPD 43% 44% 1Q 2019 1Q 2018 SS THB 446 million THB 383 million 28% 29% 14
Group Performance Revenue from Hospital Operations (THB Million) Non SS Revenue Social Security Revenue + 15.7% CAGR 1,587 1,403 +16.4% (y-o-y) 1,209 676 + 13.2% (q-o-q) 630 522 446 427 394 383 383 911 773 687 167 198 165 173 171 260 248 218 212 221 2016 2017 2018 1Q18 2Q18 3Q18 4Q18 1Q19 Gross Profit 485 Gross Profit % Gross Profit Margin 417 36.0% 333 32.8% 31.2% 30.6% 29.7% 29.9% 28.4% 27.5% 160 133 126 118 109 2016 2017 2018 1Q18 2Q18 3Q18 4Q18 1Q19 15
OPD - Non SS Patients Revenue from OPD Non SS Patients (THB Million) +10.3% CAGR 472 420 381 +15.5% (y-o-y) + 2.9% (q-o-q) 130 124 121 113 108 2016 2017 2018 1Q18 2Q18 3Q18 4Q18 1Q19 Number of Visits /1 and Revenue per Visit Non-SS OPD visits ('000 visits) Revenue per Visit (THB/Visit) 300.2 272.7 262.0 1,614 1,617 1,608 1,571 1,575 1,540 1,482 1,454 80.7 75.1 76.8 72.6 71.8 2016 2017 2018 1Q18 2Q18 3Q18 4Q18 1Q19 16 /1 Not include visits among the group
OPD Utilization Rate – All Sectors OPD Capacity (Units) & Utilization Rate (%) /1 OPD units Hemo Units % Utilization 87.0% 81.6% 81.8% 80.9% 80.4% 80.7% 77.4% 72.0% 114 114 112 111 111 111 107 106 47 47 47 47 47 47 44 43 67 67 65 64 64 64 63 63 2016 2017 2018 1Q18 2Q18 3Q18 4Q18 1Q19 /1 Include visits among the group 17
IPD – Non SS Patients Revenue from IPD Non SS Patients (MB) +22.1% CAGR 439 353 306 +12.2% (y-o-y) +24.2% (q-o-q) 130 124 111 99 100 2016 2017 2018 1Q18 2Q18 3Q18 4Q18 1Q19 Number of Visits /1 and Revenue per Visit Non-SS IPD Visit ('000 visits) Revenue per Visit (THB/Visit) 35,270 34,516 34,021 33,525 32,805 31,297 29,773 29,451 13.4 11.3 10.4 3.9 3.7 3.5 2.9 2.9 2016 2017 2018 1Q18 2Q18 3Q18 4Q18 1Q19 18 /1 Not include visits among the group
IPD Utilization Rate – All Sectors IPD Capacity (Beds) & Utilization Rate (%) /1 iPD beds % Utilization 88.0% 82.3% 81.3% 79.5% 78.3% 77.8% 77.8% 70.0% 250 244 239 234 227 227 208 183 2016 2017 2018 1Q18 2Q18 3Q18 4Q18 1Q19 /1 Include visits among the group 19
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