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Analyst Presentation 2Q2019 Results - listed...
Transcript of Analyst Presentation 2Q2019 Results - listed...
ANALYST MEETING
“PR9 2Q2019 Results” August 27, 2019
PR9 Summary and Updates
Project Updates
2
3
Operational Statistics & Financial Performance 4
Agenda Overview
1
PR9 Summary and Updates
Project Updates
2
3
Operational Statistics & Financial Performance 4
Agenda Overview
1
VISION & MILESTONES
THB 200 mm Rights offering
1st private hospital with 64 Slice CT Scan
Implementation of Pharmacy Robot
Signed Kidney referral MOUs
Started new building construction
1st private hospital with 640 Slice CT Scan
500 Kidney Transplant Cases
Started using 4D Ultrasound
2016 2018 2017 2013 2004 1992 2001 2005
Started hospital operation
The Most Trusted State of the Art Healthcare Provider
Providing the Best Healthcare Solution for Prevention and Treatment that are Valuable for Money by Professional Using State of the Art Technology Mission
Values
Vision
Accountability , Collaborative Creativity , Customer Centric with Professionalism
Listed in the Stock Exchange of Thailand
2019
W9 Wellness Center
Joint Care Center
Overview
24 Comprehensive Medical Centers
Tertiary-care hospital with world class medical quality (both general and complex treatments)
Mind Center
X
Breast Clinic Hair Center
Eye Center
Obstetric
Gynecology Center Orthopedic
Center
Medical Center
Surgery Center Pediatrics
Center
Ear Nose and
Throat Center
Dental Center Check-Up
Center
Skin Rejuvenation
Cosmetic Laser
Surgery &
Dermatology Center
Rehabilitation Center Imaging Center
(X-Ray)
Emergency Center
Gastroenterology
(GI)
and Hepatobiliary
(Liver)
Neurology
Center
Diabetes Metabolic
Center
Thyroid Center
Cardiovascular
Institute Kidney Transplant
Institute
Me
dic
al
Ac
cre
dit
ati
on
Te
ch
no
log
y
Oth
er
ke
y A
ch
ieve
me
nts
2010/ 2013/ 2016 – JCI 3rd accredited
2016 - CCPC: Kidney 2016 - CCPC: Diabetes medical care
2000 - ISO 9001:1994 2003 - ISO 9001:2000
2004/ 2007 - HA Level 3
− 2017 : 640-slice CT Scan
− 2016 : Pharmacy Robot
− 2005 : 64-slice CT Scan
− 2004 : 4D Ultrasound
2017: Best Utilization Award
AXA Provider Award
2019: Thailand Top Company Awards 2019 (Healthcare Sector)
Business+ magazine & University of the Thai Chamber of
Commerce
2017: Fertility Service Provider of the Year
Global Health and Travel Awards 2017 W9 Wellness Center
Joint Care
Center
2018: Thailand Top Company Awards 2018 (Healthcare Sector)
Business+ magazine & University of the Thai Chamber of
Commerce
PR9 Key Strategies
Top Line Initiatives
Hospital Network Expansion and Medical Cooperation
Increase Corporate and Insurance Coverage
International Patients Expansion
21 step down ICU beds
77 normal ward beds
24 ICU/CCU beds
21 normal ward beds
21 normal ward beds
Leverage expertise to build new customers base
Enhance medical treatment quality in the long term
Scope and
Scale Expansion
Comprehensive medical check-up program
Joint Care Center Wellness Center Pain & Rehab Center Allergy Center
Margin Expansion
Increase capacity utilization which will result in lower unit cost
Increase service intensity
Digital Hospital Transformation
Revitalizing Brand Awareness
2018 2019E 2020E 2022E 2021E
Where we are today Where we want to be
New Building (Wellness)
Renovated Existing Building
(Chronic)
Offer Comprehensive Medical Services Health Promotion/ Disease Prevention / Curative Medicine / Rehabilitation
Recognized complex medical treatments providers
Health Promotion Disease
Prevention Curative Medicine Rehabilitation
Leverage expertise to build new customers base • Joint Care Center • Wellness Center • Pain & Rehab Center • Allergy Center
166 188 212 233 254 0 59 59 59 59
2018 2019 2020 2021 2022
Existing Building 2
166 247 271 292 313
Scale and scope of services expansion
A B
PR9 Summary and Updates
Project Updates
2
3
Operational Statistics & Financial Performance 4
Agenda Overview
1
50.4 35.7 102.6 121.8
7.8% 5.2% 7.9% 8.8%
-2.0%
3.0%
8.0%
13.0%
0.0
50.0
100.0
150.0
200.0
2Q2018 2Q2019 1H2018 1H2019
98.2 83.9 199.8 227.4
15.3% 12.3%
15.4% 16.4%
-5.0%
5.0%
15.0%
25.0%
0.0
100.0
200.0
300.0
400.0
2Q2018 2Q2019 1H2018 1H2019
635.6 670.7
1277.9 1365.9
0.0
500.0
2Q2018 2Q2019 1H2018 1H2019
Financial Summary Medical revenue in 2Q2019 of Baht 670.7 million , 5.5% yoy
increase. This was mainly because of an increase in out-patient revenue by 6.6%. The incremental in out-patient revenue was mainly because of an increase in insurance & corporate patients which grew 19.9% while international patients also grew 14.8% resulting from marketing campaign and marketing activities. M
edica
l Rev
enue
EB
ITDA
Ne
t Pro
fit
EBITDA in 2Q2019 of Baht 83.9 million or 12.3% EBITDA margin, a 14.6% decrease ended 30 June 2018 EBITDA of Baht 98.2 million or 15.3% EBITDA margin.
Net profit in 2Q2019 of Baht 35.7 million or 5.2% of net profit margin that decreasing 29.2% from Baht 50.4 million or 7.8% net profit margin in 2Q2018.
111.5
16.4%
63.2
9.3%
18.4%
254.9
149.4
10.8%
International Marketing : Myanmar , China , Cambodia
Operational Update
Kidney Transplant Institute Hospital Network Visit / Kidney Transplant Cases and Waiting List
Digital Hospital Transformation: OPD Appointment application / Mobile IPD Doctor / In room service
Revitalizing Brand Awareness: New Website
2
1
3
4
Hospital Network MOU 1
W9 WELLNESS CENTER Soft opening : 4th July 2019
PR9 JOINT CARE CENTER Grand opening 7th August 2019
PR9 Pain Management and Wellness Center
• Comprehensive clinical programs for both pain and wellness program
Wellness program Pain treatment
Yoga Fitness
PR9 Pain Management and Wellness Center
Hydrotherapy Ice lab
PR9 Pain Management and Wellness Center
Digital Hospital Transformation
Source : Company data
OPD Appointment
application
Mobile IPD
Doctor
In room service
Real time Doctor Appointment Medication safety Improve customer experience
2
Digital hospital transformation : Queue Management System
www.Praram9.com Revitalizing Brand Awareness : New Website 3
INTERNATIONAL MARKETING
Praram 9 Hospital Office (Yangon) First PR9 Office in China (Zhejiang) Cambodia
4
PR9 Summary and Updates
Project Updates
2
3
Operational Statistics & Financial Performance 4
Agenda Overview
1
Projects in Pipeline
(1) As of 30 September 2018
Project Type Details Approx. Period Total cost
(THB mm)
1) Renovation of existing
building
Upgrade /
Renovate
Under construction
21 Step Down ICU beds – FL9
21 Normal ward beds – FL11
10 Normal ward beds – FL10
2018 – 2019 137
Future Projects
24 ICU & CCU beds
42 Normal ward beds
Re-Façade
2020 – 2022 235
2) New building New 16-story building with 2 underground floors 2017 - Q4/2019 2,343
3) Home Office New 6-story office building for back-office personnel 2018 - Q4/2019 70
4) Nurse Condominium New 8-story nurse condominium with approx. 80
rooms 2018 – 2019 200
5) Digital Hospital Upgrade Strategy for digital transformation 2018 - 2020 50
Construction Progress – Building 2
Construction Progress – Building 2 : Mock-up OPD
Construction Progress – Building 2 : Mock-up IPD
Construction Progress : Building 3
Construction Progress : Building 4 – Nurse Condominium
PR9 Summary and Updates
Project Updates
2
3
Operational Statistics & Financial Performance 4
Agenda Overview
1
Revenue Breakdown
349 353 388 405 374 376 702 750
293 283 323 308 321 295
576 616
11 6 5 10 9 9
17 18
1Q18 2Q2018 3Q2018 4Q2018 1Q2019 2Q2019 1H2018 1H2019OPD IPD Other revenue
Unit: THB mm
Total Revenue
(45%) (55%)
(44%) (56%)
(46%) (54%)
(45%) (55%)
(43%) (57%)
(46%) (54%)
(45%) (55%)
(45%) (55%)
653.3 642.0 716.0 722.3 704.3 679.8
1295.3 1384.1
Total Revenue +5.9% Medical Revenue +5.5% OPD +6.6% IPD +4.2%
543.60 561.26
Inter, 91.97
Inter, 109.44
2Q18 2Q19
Thai Inter
+3.2% +19.0%
Total Revenue : Q2 2018,2019
Unit: THB mm Total Revenue
497.0 507.8
115.1 132.9
23.5 30.0
2Q18 2Q19
Self Pay Insurance Contract Comp.
27.7%
+2.2%
+15.5% 4%
18% 78%
4% 20%
76%
352.6 376.0
283.0 294.7
6.4 9.1
2Q18 2Q19
OPD IPD Other rev. Total revenue
45% 55%
By Payor Revenue
by Nationality Revenue
44% 56% 16%
84% 14% 86%
642.0 679.8
Total Revenue +6.9% Medical Revenue +6.9% OPD +6.9% IPD +6.8%
1,101.4 1,150.7
176.5 215.2
1H18 1H19
Thai Inter
+4.5% +21.9%
Total Revenue : 1H 2018,2019
Unit: THB mm Total Revenue
984.2 1,035.4
238.9 270.4
54.8 60.1
1H18 1H19
Self Pay Insurance Contract Comp.
9.7%
+5.2%
+13.1% 4%
19% 77%
4% 20%
76%
701.7 750.3
576.3 615.6
17.3 18.2
1H18 1H19OPD IPD Other rev.
45% 55%
By Payor Revenue
by Nationality Revenue
45% 55%
14% 86%
16% 84%
1295.3 1384.1
Key Operational Statistics Q2 2019
Unit: ’000 visits
OPD Visits
102 103 112 115
105 106
1Q2018 2Q2018 3Q2018 4Q2018 1Q2019 2Q2019
OPD
+3.4% (YOY)
IPD Average Daily Census (ADC)
111 96
117 105 106
91
1Q2018 2Q2018 3Q2018 4Q2018 1Q2019 2Q2019
IPD
-5.2% (YOY)
Occupancy Rate base on available beds : Ward , ICU-CCU
125 142 142 142 142 142
24 24 24 24 24 24
74.3%
55.9%
70.0%
61.5% 61.4% 52.4%
73.6% 68.3%
74.2% 74.3% 77.8% 72.7%
0%
10%
20%
30%
40%
50%
60%
70%
-30
20
70
120
170
220
1Q18 2Q18 3Q18 4Q18 1Q19 2Q19
Ward ICU-CCU Ward Occupancy Rate ICU-CCU Occupancy Rate
197.9 186.9 227.1 225.1 224.8 181.5 384.8 406.3
30.8% 29.4% 32.0% 31.6% 32.3% 27.1% 30.1% 29.7%
1Q2018 2Q2018 3Q2018 4Q2018 1Q2019 2Q2019 1H2018 1H2019Gross Profit Gross Profit Margin
Profitability 2Q2019 & Half Year
Unit: THB mm
Gro
ss
Pro
fit
EB
ITD
A
Ne
t P
rofi
t
Unit: THB mm
Unit: THB mm
142.2
82.8
3.6%
• 11.5%
• 19.7% 254.9 • 16.4%
63.2
• 9.3%
111.5
• 18.4%
• 10.8%
197.0 • 29.4% 421.8
• 30.9%
149.4
101.6 98.2 145.9 25.8
143.4 83.9 199.8 227.3
15.5% 15.3%
20.4% 20.4%
12.3% 15.4% 16.4%
1Q2018 2Q2018 3Q2018 4Q2018 1Q2019 2Q2019 1H2018 1H2019EBITDA EBITDA Margin
-33 52.0 50.4 87.3 86.1 35.7
102.4 121.8
8.0% 7.8% 12.2%
-4.5%
12.2%
5.2%
7.9% 8.8%
1Q2018 2Q2018 3Q2018 4Q2018 1Q2019 2Q2019 1H2018 1H2019Net Profit Net Profit Margin
ANALYST MEETING
“PR9 2Q2019 Results” August 27, 2019