Q & M Dental Singapore : Financial Statement (612 KB)

Q & M Dental Group (Singapore) Limited

(Incorporated in the Republic of Singapore)

(Company Registration No: 200800507R)

Condensed Financial Statement And Dividend Announcement For The First Half Ended 30 June 2023 ("1H23")

1(a) Condensed Interim Consolidated Statement of Profit or Loss and Other Comprehensive Income

Revenue

Dental and Medical Clinics

Medical Laboratory and Dental Equipment & Supplies

Total Revenue

Other Items of Income

Interest Income

Other Items of Expense

Consumables and Supplies Used in Dental & Medical Clinics

Cost of Sales - Medical Laboratory and Dental Equipment & Supplies Employee Benefits Expense

Depreciation and Amortisation Expense Depreciation of Right-Of-Use Assets Other Expenses

Finance Costs

Other Losses

Share of Loss from Equity-Accounted Associate

Profit Before Tax from Continuing Operations

Income Tax Expense

Profit From Continuing Operations, Net of Tax

Other Comprehensive Loss:

Exchange Differences on Translating Foreign Operations, Net of Tax

Other Comprehensive Loss for the Period, Net of Tax Total Comprehensive Income for the Period

Profit Attributable to:

Owners of the Parent, Net of Tax

Non-Controlling Interests, Net of Tax

Profit, Net of Tax

Total Comprehensive Income Attributable to:

Owners of the Parent

Non-Controlling Interests

Total Comprehensive Income

		Group
	Year-To-Date
	30/06/2023	30/06/2022	Change
Note	$'000	$'000	%
	78,872	78,496	-
	8,273	12,414	(33)
3	87,145	90,910	(4)
	9	9	-
	(6,622)	(6,651)	-
	(3,970)	(6,084)	(35)
	(51,939)	(50,358)	3
	(2,426)	(2,305)	5
	(6,459)	(5,979)	8
	(5,858)	(5,399)	9
5	(2,781)	(1,531)	82
4	(76)	(47)	62
	(203)	(500)	(59)
	6,820	12,065	(43)
6	(1,107)	(1,524)	(27)
	5,713	10,541	(46)
	(993)	(674)	47
	(993)	(674)	47
	4,720	9,867	(52)
	5,334	9,849	(46)
	379	692	(45)
	5,713	10,541	(46)
	4,420	9,203	(52)
	300	664	(55)
	4,720	9,867	(52)

NM: Not Meaningful

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Q & M Dental Group (Singapore) Limited

(Incorporated in the Republic of Singapore)

(Company Registration No: 200800507R)

			Group
		Year-To-Date
		30/06/2023	30/06/2022	Change
	Note	$'000	$'000	%
EBITDA		18,477	21,871	(16)
Earnings Per Share
Base on the Weighted Average Number of Ordinary(a)
Shares on Issue - Cents		0.56	1.05
Fully Diluted Basis - Cents		0.56	1.05

1. The basic EPS for the period ended 30 June 2023 and 30 June 2022 are based on the profit attributable to equity holders of parent, net of tax and weighted average number of ordinary shares of 946,442,940 and 939,442,940 shares respectively.

			Group
		Year-To-Date
		30/06/2023	30/06/2022	Change
	Note	$'000	$'000	%
Core Healthcare Business(b):
Revenue		83,309	83,729	(1)
PATMI(c)		5,976	9,411	(36)
EBITDA		18,162	20,330	(11)

1. Core Healthcare Business excludes contributions from the Group's medical laboratory, other gains, other losses and expenses incurred on the development of the Group's digital Artificial Intelligence (AI) guided clinical decision support system as well as rental rebates received from the Singapore Government.
2. PATMI refers to profit after tax and minority interest (aka Profit attributable to owners of the parent).

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Q & M Dental Group (Singapore) Limited

(Incorporated in the Republic of Singapore)

(Company Registration No: 200800507R)

1(b) Condensed Interim Statements of Financial Position

		Group	Company
		As at	As at
		30/06/2023	31/12/2022	30/06/2023	31/12/2022
	Note	$'000	$'000	$'000	$'000
ASSETS
Non-Current Assets
Property, Plant and Equipment	8	37,579	36,929	1,070	989
Right-Of-Use Assets		48,491	52,589	1,770	1,582
Investment in Subsidiaries		-	-	61,438	61,438
Investment in Associates	9	24,472	25,191	25,912	25,912
Goodwill	10	56,576	56,582	-	-
Other Intangible Assets	11	4,691	4,604	-	-
Other Receivables		2,259	2,174	1,727	1,835
Other Assets		8,637	7,540	4,106	4,163
Total Non-Current Assets		182,705	185,609	96,023	95,919
Current Assets
Inventories		11,648	11,091	-	-
Trade and Other Receivables		28,188	26,970	86,745	88,517
Other Assets		3,877	4,044	1,591	1,538
Cash and Cash Equivalents		33,422	39,698	2,651	5,834
Total Current Assets		77,135	81,803	90,987	95,889
Total Assets		259,840	267,412	187,010	191,808
EQUITY AND LIABILITIES
Equity Attributable to Owners of the Parent
Share Capital	12	86,758	86,758	86,758	86,758
Treasury Shares	12	(11,535)	(11,535)	(11,535)	(11,535)
Retained Earnings		23,818	24,163	1,844	6,531
Other Reserves, Total		(3,810)	(2,896)	-	-
Equity Attributable to Owners of the Parent, Total		95,231	96,490	77,067	81,754
Non-Controlling Interests		6,058	5,758	-	-
Total Equity		101,289	102,248	77,067	81,754
Non-Current Liabilities
Provisions		776	767	-	-
Deferred Tax Liabilities		1,876	1,926	-	-
Lease Liabilities Arising from Right-Of-Use Assets		41,443	45,220	1,587	1,427
Other Financial Liabilities	13	83,366	84,577	79,511	80,620
Total Non-Current Liabilities		127,461	132,490	81,098	82,047
Current Liabilities
Income Tax Payable		2,048	2,273	-	-
Trade and Other Payables		17,814	19,381	28,357	27,560
Lease Liabilities Arising from Right-Of-Use Assets		10,387	10,547	243	201
Other Financial Liabilities	13	841	473	245	246
Total Current Liabilities		31,090	32,674	28,845	28,007
Total Liabilities		158,551	165,164	109,943	110,054
Total Equity and Liabilities		259,840	267,412	187,010	191,808
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Q & M Dental Group (Singapore) Limited

(Incorporated in the Republic of Singapore)

(Company Registration No: 200800507R)

1(c) Condensed Interim Consolidated Statement of Cash Flows

Cash Flows From Operating Activities

Profit Before Tax

Adjustments for: Interest Income Interest Expense

Gain on Disposal of Plant and Equipment Plant and Equipment Written Off

Impairment allowance on plant and equipment - reversal Share of Loss from Equity - Associated Associates

Depreciation of Property, Plant and Equipment and Amortisation Expense Depreciation of Right-Of-Use Assets

Foreign Currency Translation Reserve

Operating Cash Flows Before Changes in Working Capital

Inventories

Trade and Other Receivables Other non-financial assets Trade and Other Payables Provision

Net Cash Flows From Operating Activities Before Interest and Tax Income Taxes Paid

Net Cash Flows From Operating Activities

Cash Flows Used in Investing Activities

Purchase of Property Plant and Equipment

Purchase of Intangible Assets

Disposal of Plant and Equipment

Other non-financial assets

Trade and Other Receivables

Other Receivables, Non-Current

Interest Received

Net Cash Flows Used in Investing Activities

Cash Flows Used in Financing Activities

Lease Liabilities - Principal Portion Paid

Lease Liabilities - Interest Paid

Finance Lease Repayment

Repayment of Bank Loans

Proceeds from Term Loan

Bill Payables

Interest Paid

Dividends Paid to Non-Controlling Interest*

Dividends Paid to Equity Owners

Net Cash Flows Used In Financing Activities

Group

Year-To-Date

30/06/2023	30/06/2022
$'000	$'000
6,820	12,065
(9)	(9)
2,781	1,531
-	(24)
69	33
(13)	-
203	500
2,426	2,305
6,459	5,979

1. (159)
   18,46822,221

(557)	84
(1,105)	4,176
296	(68)
(1,567)	(5,615)
9	-
15,544	20,798
(1,380)	(3,409)
14,164	17,389
(3,152)	(5,901)

1. (603)
   108148

(1,225)

116

1. (449)

(85)	236
9	9
(4,839)	(6,444)
(6,298)	(5,608)

1. (876)

(29)	(23)
(1,181)	(222)
-	2,400
367	(160)
(1,938)	(655)

• (5,012)
  (5,679) (13,152)

(15,601)

(23,308)

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Q & M Dental Group (Singapore) Limited

(Incorporated in the Republic of Singapore)

(Company Registration No: 200800507R)

	Group
	Year-To-Date
	30/06/2023	30/06/2022
	$'000	$'000
Net Decrease in Cash and Cash Equivalents	(6,276)	(12,363)
Cash and Cash Equivalents, Statement of Cash Flows, Beginning Balance of the Period	39,698	47,611
Cash and Cash Equivalents, Statement of Cash Flows, Ending Balance of the Period	33,422	35,248
Cash and Cash Equivalents at End of Period includes the following:
Cash and Bank Balances	33,422	35,248
Cash and Cash Equivalents at End of Period	33,422	35,248

• Mainly the payment of accrued dividends to Aoxin Q&M, an associate of the Group and the 49% owner of Acumen Diagnostics Pte. Ltd. of which the Group has 51% ownership.

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