Bangkok Dusit Medical Services : BDMS Investors Presentation - Macquarie Invest ASEAN Conference

Macquarie Invest ASEAN Conference

7 March 2024

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Important Notice

• 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 Bangkok Dusit Medical Services Public Company Limited ("BDMS" and shares in BDMS, "shares") in any jurisdiction nor should it or any part of it from 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 BDMS operates and general achievement of BDMS business forecasts, which will cause the actual results, performance or achievements of BDMS to differ, perhaps materially, from the results, performance or achievements expressed or implied in this presentation.
• This presentation has been prepared by the BDMS. 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 the BDMS or any of its agents or advisors or any of their respective affiliates, advisors or representatives, shall have any liability ( in negligence or otherwise) for any loss howsoever 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.

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BDMS At Glance

4Q23 & 2023 Summary and Outlook

BDMS Strategic Priority

Operational Statistics

Healthcare Industry

Agenda

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BDMS AT GLANCE

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BDMS at Glance

The Largest Private Healthcare Operator in Thailand

50+ 8,700+

Hospitals	Structured
	Beds

12,000+ 10,000+

Doctors	Registered
(Full time ~3,000)	Nurses

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Center of

Excellence

(as of 2023)

• Hub-and-Spokemodel with an established patient referral system with the patients volume of
• • OPD visit ~ 33,000 patients a day
  • Average daily census ~ 4,500

Brand	No. of Hospitals	No. of Beds*
Bangkok Hospital	30	4,288
Samitivej Hospital	7	1,315
Phyathai Hospital	7	1,247
Paolo Hospital	8	1,027
BNH Hospital	1	115
Royal Hospital	2	133
Local Hospital	4	602

* Maximum number of beds according to structure of the hospitals

Non-Hospital Business

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Diversification of Patient Mix

Power	International	Patients
/ Purchasing	High-Income	Patients
Target Patients	Middle-Income	Patients
	Social	Security

Revenue breakdown		Medical Sophistication
2023
Secondary		Tertiary		Super Tertiary

Top 5

• Cambodia

▪ Japan

~27% ▪ China

• Myanmar
• USA

~71%

~2%

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BDMS Complete Continuum of Healthcare

Expanding Healthcare Journey While Improving Clinical Outcomes, Patient Experience and Accessibility

								SECONDARY CARE
								TERTIARY CARE
								SUPER TERTIARY CARE
	PREVENTIVE						CURATIVE
EARLY DECTECTION	CARE						CARE
						CENTER OF EXCELLENCE

PREVENTIVE

PROMOTIVE

TRANSITIONAL CARE

&

REHABILITATIVE

NON-HOSPITAL

Medical Lab	Sterile Drug Manufacturer	Generic Drug Manufacturer	Drug Store
	& Distributor

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Projects in the Pipeline

Expanding Capacity at New/Existing Locations

		~8,600 beds		2024
				✓ Phyathai Sriracha 2-
		2023
				Social Security
✓	Bangkok Rayong Cancer		(113 beds)
			Samitivej
✓Bangkok Pluak Daeng	▪
	International Children

(180 beds)	(100 beds)

Remark:- Structured beds

2025

• Phyathai Bowin (220 beds)
• Bangkok Chiangmai (90 beds)

~9,300 beds

2026-2027

• Bangkok Khao Yai (53 beds)
• Phyathai 1 (160 beds)
• Expansion of existing hospitals

2029

BDMS Silver Wellness & Residence

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4Q23 & 2023 SUMMARY AND OUTLOOK

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4Q23 Operational and Financial Summary

4Q23 Highlights

		4Q23
		% Chg	% to
			Revenue
Operating income	12%
		THB 26,726 mm
Hospital revenue	12%
		THB 25,379 mm
Breakdown by nationality
▪	Thai	10%	72%
	Thai Non COVID-19	14%
▪	International	18%	28%

Profitability and Ratio

(THB mm)	4Q23	4Q22	Chg. (yoy)
EBITDA	6,649	5,641	18%
EBITDA margin	24.9%	23.7%
EBIT	5,238	4,199	25%
EBIT margin	19.6%	17.6%
Net profit	3,952	3,113	27%
Net profit margin	14.8%	13.1%

Remark: Margin was calculated as a percentage of operating income

Breakdown by location
▪	Bangkok & Vicinity	12%	56%
▪	Outside Bangkok	13%	44%
Breakdown by type of patients
▪	Outpatients	11%	48%
▪	Inpatients	14%	52%

Remark: - Operating income is calculated from hospital revenue + revenue from sales of goods + other income

Hospital +12%

Revenue

Growth mainly from inter (recovery of fly-in patients) and Thai patient revenue

NPAT

+27%

• Recovery of Thai and Inter patients
• Good financial management resulting in an increase in interest income and a decrease in interest expense

- All operational statistics are from BDMS management report

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