Financial Highlights
Consolidated financial statements | |||||
---|---|---|---|---|---|
Profit and loss statements (million baht) | 2020 | 2021 | 2022 | 2023 | |
Revenue from medical service | 6,913 | 10,415 | 10,769 | 9,485 | |
Revenue from Healthcare solution provider | 386 | 410 | 748 | 336 | |
Revenue from other businesses | 16 | 23 | 23 | 23 | |
Total revenue | 7,315 | 10,848 | 11,540 | 9,844 | |
Cost from medical service | (5,459) | (7,083) | (7,522) | (7,174) | |
Cost from Healthcare solution provider | (278) | (309) | (518) | (250) | |
Cost from other businesses | (11) | (14) | (14) | (15) | |
Total cost | (5,748) | (7,406) | (8,054) | (7,439) | |
Gross profit | 1,567 | 3,442 | 3,486 | 2,405 | |
Selling, general and admin expenses | (1,405) | (1,566) | (1,720) | (1,811) | |
EBITDA | 1,157 | 2,977 | 3,342 | 2,080 | |
Normalized EBITDA | 1,138 | 3,019 | 3,215 | 2,080 | |
Financial cost | (281) | (299) | (305) | (449) | |
Net profit | 22 | 1,357 | 1,677 | 393 | |
Normalized net profit | (63) | 1,393 | 1,572 | 393 | |
Net profit - parent | 62 | 1,337 | 1,602 | 295 | |
Normalized net profit - parent | (23) | 1,373 | 1,497 | 295 | |
Margin | 2020 | 2021 | 2022 | 2023 | |
Gross profit margin | 21.4% | 31.7% | 30.2% | 24.4% | |
EBITDA margin | 15.8% | 27.4% | 29.0% | 21.1% | |
Normalized EBITDA margin | 15.6% | 27.8% | 27.9% | 21.1% | |
Net profit margin - parent | 0.9% | 12.3% | 13.9% | 3.0% | |
Normalized net profit margin - parent | -0.3% | 12.7% | 13.0% | 3.0% | |
Statements of financial position (million baht) | End of 2020 | End of 2021 | End of 2022 | End of 2023 | |
Current assets | 4,892 | 7,019 | 7,008 | 4,873 | |
Non-current assets | 15,388 | 16,780 | 18,073 | 18,677 | |
Total assets | 20,280 | 23,799 | 25,081 | 23,550 | |
Current liabilities | 5,043 | 8,734 | 7,921 | 9,699 | |
Non-current liabilities | 6,906 | 5,447 | 5,984 | 3,075 | |
Total liabilities | 11,949 | 14,181 | 13,905 | 12,774 | |
Total equity | 8,331 | 9,618 | 11,176 | 10,776 | |
Financial ratios | 2020 | 2021 | 2022 | 2023 | |
Current ratio (times) | 1.0 | 0.8 | 0.9 | 0.5 | |
Return on assets (%) | 1.6 | 9.2 | 9.6 | 3.9 | |
Assets turnover (times) | 0.4 | 0.5 | 0.5 | 0.4 | |
Return on equity (%) | 0.8 | 15.7 | 16.6 | 3.0 | |
Debt/ equity (times) | 1.5 | 1.5 | 1.2 | 1.2 | |
Interest bearing debt/ EBITDA (times) | 8.7 | 3.5 | 3.4 | 4.9 | |
Debt service coverage ratio (DSCR) (times) | 1.4 | 2.4 | 1.9 | 0.8 | |
Interest coverage ratios (times) | 1.2 | 6.8 | 7.7 | 2.1 |
Note: normalized values (before tax) exclude
1) Profit from disposal of JV investment in Welly Hospital, China of THB 19 mn in 1Q20 for Consolidated financial statements and loss from the disposal of the investment of THB 236 mn for separate financial statement in 1Q202) Income from deferred tax from JV in Welly Hospital, China of THB 67 mn in 1Q20
3) Expenses from the end of a management contract with a government hospital (net corporate income tax) of THB 28 mn: comprising of THB 21 mn in 1Q21 and THB 7 mn in 2Q21.