Bangkok Dusit Medical Services : Analyst Presentation 1Q2024 Results
May 16, 2024 at 08:24 am
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1Q24 Analyst Presentation
16 May 2024
1
Agenda
1Q24 Summary
Company Update
Our Network Hospital - Group 2
Operational Statistics
Financial Highlights
2
1Q24 SUMMARY
3
1Q24 Operational and Financial Summary
1Q24 Highlights
1Q24
% Chg
% to
Revenue
Operating income
11%
THB 26,930 mm
Hospital revenue
11%
THB 25,526 mm
Breakdown by nationality
▪
Thai
10%
70%
▪
International
12%
30%
Breakdown by location
▪
Bangkok & Vicinity
8%
54%
▪
Outside Bangkok
14%
46%
Breakdown by type of patients
▪
Outpatients
12%
49%
▪
Inpatients
9%
51%
Remark: - Operating income is calculated from hospital revenue + revenue from sales of goods + other income
- All operational statistics are from BDMS management report
Profitability and Ratio
(THB mm)
1Q24
1Q23
Chg. (yoy)
EBITDA
6,778
5,987
13%
EBITDA margin
25.2%
24.6%
EBIT
5,371
4,630
16%
EBIT margin
19.9%
19.0%
Net profit
4,074
3,468
17%
Net profit margin
15.1%
14.3%
Remark: Margin was calculated as a percentage of operating income
Hospital
+11%
NPAT
+17%
Revenue
Key growth drivers are
▪ Growth of Thai and Inter
▪ Inter and Thai patient
patients
revenue
▪
Favorable cost control
▪ Upcountry hospitals
▪
Effective financial
management
4
1Q24 Key Growth Drivers: International Patients
Top 10 Nationality by Revenue in 1Q24
% Growth
YoY
1
Cambodia
-2%
2
China
+45%
3
USA
+19%
4
Japan
+7%
5
UK
+5%
6
Germany
+18%
7
Myanmar
-3%
8
France
+29%
9
Russia
+8%
10
UAE
+10%
Total International
+12%
China has the highest growth
Mainly from
Respiratory
Trauma
IVF, OBGYN and pediatrics
Well being (Dental, Skin, Check Up)
Inter Patient Revenue Growth by Region (YoY)
1Q24
+25%
Apr 24
+18% +18%
+2%
Flat
Europe
Middle East
CLMV
-4%
5
+49% YoY
SAUDI ARABIA
REVENUE in 1Q24
BDMS Saudi Arabia Collaboration Center in Riyadh with Saudi
staff
6
1Q24 Key Growth Drivers: Upcountry Hospitals
Strong Hospital Revenue Growth at Tourist Destinations Leading to Profitability Improvement
1Q24 Hospital Revenue Growth
OUTSIDE BKK
46%
CHIANGMAI
+14% YoY
1Q24
Revenue
22% YoY
HOSPITAL REVENUE
54%
+11% YoY
BKK
+8% YoY
OUTSIDE BANGKOK EBITDA MARGIN IMPROVEMENT
24.6%
26.1%
PATTAYA
15% YoY
20.2%
RAYONG
31% YoY
OUTSIDE BKK
PHUKET
2019
2023
1Q24
14% YoY
# of hospitals
31
35
36
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COMPANY UPDATE
8
Center of Excellence
14 Centers of Excellence Providing Consultations and State of the Art Treatment
1Q24
Hospital revenue growth
CENTER of
+9% YoY
EXCELLENCE
Revenue contribution
(1Q24)
Non COE
41%
Hospital
Revenue
COE 59%
Remark:- 5 COEs in Bangkok, 8 COEs in upcountry and 1 COE in Cambodia
TRAUMA HEART ORTHOPEDICS
CANCER NEURO
EBITDA contribution
(1Q24)
with ~27% EBITDA Margin
Non COE
38%
Hospital
EBITDA
COE 62%
9
Wattnosoth Cancer Hospital
Comprehensive Cancer Treatment Services with Advanced Technologies in Collaboration with Multidisciplinary Team
Cancer 5-Year Survival Rate by Cancer Type (2022)
91.2% 94.0%
SEER WSH
65.0%
52.0%
39.0%
26.7%
Breast cancer
Colorectal cancer
Lung cancer
SEER = National cancer institute
WSH = Wattanosoth Cancer Hospital
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Disclaimer
Bangkok Dusit Medical Services pcl published this content on
16 May 2024 and is solely responsible for the information contained therein. Distributed by
Public, unedited and unaltered, on
16 May 2024 07:23:03 UTC.
Bangkok Dusit Medical Services Public Company Limited is a Thailand-based company, which is engaged in providing medical services. It is an operator of private hospitals in the country with networks both in Thailand and Cambodia, totaling 56 hospitals. It operates through two segments, which consist of hospital operations and other businesses that support hospital business such as medical laboratories, production and distribution of pharmaceutical products, pharmacies, asset management for healthcare business, accounting services, technology and information services, training business and insurance broker. The Company operates under six hospital groups, namely, Bangkok Hospital Group, Samitivej Hospital Group, BNH Hospital, Phyathai Hospital Group, Paolo Hospital Group and Royal Hospital Group. In addition, its network also covers Wellness Clinic and businesses that support medical care such as medical laboratories, production and distribution of pharmaceutical products and others.