Note: 2018 and 3Q20 net profits include special items
  Consolidated financial statements
Profit and loss statements (million baht) 2019 2020 2021 % YoY change
Revenue from medical service 7,461 6,913 10,415 50.70%
Revenue from Healthcare solution provider 756 386 410 6.20%
Revenue from other businesses 15 16 23 43.80%
Total revenue 8,232 7,315 10,848 48.30%
Cost from medical service (5,861) (5,459) (7,083) 29.70%
Cost from Healthcare solution provider (492) (278) (309) 11.20%
Cost from other businesses (13) (11) (14) 27.30%
Total cost (6,366) (5,748) (7,406) 28.80%
Gross profit 1,866 1,567 3,442 119.70%
Selling, general and admin expenses (1,397) (1,405) (1,566) 11.50%
EBITDA 1,419 1,157 2,977 157.30%
Normalized EBITDA 1,236 1,138 3,019 165.30%
Financial cost (216) (281) (299) 6.40%
Net profit  459 22 1,357 6068.20%
Normalized net profit 314 (63) 1,393 2311.10%
Net profit - parent 462 62 1,337 2056.50%
Normalized net profit - parent 311 (23) 1,373 6069.60%
Margin 2019 2020 2021  
Gross profit margin 22.7% 21.4% 31.7%
EBITDA margin 17.2% 15.8% 27.4%
Normalized EBITDA margin 15.0% 15.6% 27.8%
Net profit margin - parent 5.6% 0.9% 12.3%
Normalized net profit margin - parent 3.8% -0.3% 12.7%
Statements of financial position (million baht) End of 2019 End of 2020 End of 2021 % change from end of 2020
Current assets 5,025 4,892 7,019 43.50%
Non-current assets 15,260 15,388 16,780 9.00%
Total assets 20,285 20,280 23,799 17.40%
Current liabilities 5,127 5,043 8,734 73.20%
Non-current liabilities 6,376 6,906 5,447 -21.10%
Total liabilities 11,503 11,949 14,181 18.70%
Total equity 8,782 8,331 9,618 15.40%
Financial ratios 2019 2020 2021
Current ratio (times) 1.0 1.0 0.8
Return on assets (%) 4.2 1.6 9.2
Assets turnover (times) 0.5 0.4 0.5
Return on equity (%) 5.6 0.8 15.7
Debt/ equity (times) 1.3 1.5 1.5
Interest bearing debt/ EBITDA (times) 6.3 8.7 3.5
Debt service coverage ratio (DSCR) (times)  2.2 1.4 2.4
Interest coverage ratios (times) 3.7 1.2 6.8

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 1Q20
2) 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.