Business Overview
Holding company which currently holds investment in pharmacy business distributing medicines, medical supplies, cosmeceuticals, supplements, medical devices and other healthcare products as well as in business regarding coinventing and codeveloping with external research teams along with hiring manufacturers for distributing innovative healthcare products including supplements, sterilization products, deodorizer and mask.
Financial Statement
| 9M24 | 9M23 | 2023 | 2022 |
|---|
Income Statement (MB)
| Revenues | 1,478.97 | 1,208.67 | 1,659.31 | 1,538.21 |
| Expenses | 1,415.69 | 1,146.54 | 1,558.59 | 1,389.82 |
| Net Profit (Loss) | 47.07 | 44.98 | 74.68 | 118.23 |
Balance Sheet (MB)
| Assets | 1,497.23 | 1,300.92 | 1,382.35 | 1,288.19 |
| Liabilities | 522.91 | 362.92 | 414.29 | 346.20 |
| Shareholders' Equity | 974.32 | 938.00 | 968.05 | 941.99 |
Cash Flow (MB)
| Operating | 62.60 | 37.88 | 91.26 | 136.20 |
| Investing | -164.15 | -81.57 | 177.28 | -624.51 |
| Financing | -70.93 | -71.66 | -80.08 | -70.34 |
Financial Ratio
| EPS (Baht) | 0.17 | 0.17 | 0.27 | 0.43 |
| GP Margin (%) | 22.72 | 22.31 | 23.06 | 24.76 |
| NP Margin (%) | 3.18 | 3.72 | 4.50 | 7.69 |
| D/E Ratio (x) | 0.54 | 0.39 | 0.43 | 0.37 |
| ROE (%) | 8.03 | 8.57 | 7.82 | 13.08 |
| ROA (%) | 7.26 | 8.24 | 7.50 | 12.33 |
Business Plan
The Group aims to expand its branch continuously, targeting Bangkok and its vicinity due to the high market value. The target is to open 20 new branches in 2024. In addition, the Group also plans to launch innovative products under its own brands and expand its distribution channels.
Sustainable Development Plan
- Aim to operate with fairness, legitimacy, and transparency.
- Strictly comply with the law and regulations.
- Operate in consistent with labor law and concerns regarding human rights.
- Show responsibility to customers by providing high quality products and customer services, with accurate and updated information, and keeping client confidentiality.
- Implement a green campaign by reducing usage of plastic bags and paper boxes. Implementing ERP systems to reduce paper usage. The Group initiated a pioneering project, by applying e-tax to business partners, in order to reduce paper use, for partners who are ready for the transformation.
- Place its importance on a healthy community and support sustainable development. The Group has participated in diverse activities in various aspects such as public health, education, and religion.
Business Highlight
The Group invests in pharmacy chains and collaborative research with external teams to commercialize innovative health products. It owns four pharmacy brands with 61 branches in Bangkok and its vicinity. The Group also has two innovative product brands: 'Prime', dietary supplement, and 'Besuto', health and hygiene products.
Performance and Analysis
Business Performance Summary
In 9M2024, the Group recorded a total revenue of 1,450.6 million baht, representing a 21.56% growth YOY. Revenue from all product categories grew YOY, with the highest growth rate of 32.66% from Personal healthcare. This was followed by a 26.51% growth in Medical food. Other income increased by 42.41% YOY due to an increase in the number of branches and sales areas, resulting in higher service fees.
Icare Health Co., Ltd., a subsidiary, recorded a gain of 6.45 million baht from the disposal of non-current assets classified as held for sale. This asset was an idle piece of land with a warehouse building, which was sold and transferred on February 8, 2024. The Group's net profit was 30.30 million baht, showing a 5.33% growth YOY.
Key Milestones
- As of 30 Sep 2024, the Group had a total of 61 branches, by adding six branches in Q3-2024 in Bangkok and its vicinity.
- Certified as Accredited Pharmacy by The Office of Community Pharmacy Accreditation (Thailand) to legitimately join the National Health Security System Program or the so-call "Golden Card" 30 Baht health care scheme.
- VAT REFUND FOR TOURISTS is available in all branches.
- Prime KIN product has won the gold medal for innovation at the 2024 Japan Design, Idea & Invention Expo.
- Join "Recycle Medicine Blister Pack Saving the World" project from July 9 to December 31, 2024 and contribute to transform waste into social good.
- Be part of the "Needle Thread for Help" campaign by iRedcross starting from September 12, 2024, to support Parkinson's disease diagnosis and care.
Risk Management Policy
- Since founding the drugstore 30 years ago, the Group has sourced from two major distributors. The partnership has gone well. However, the Group has regularly reviewed new suppliers to ensure it secures sufficient products.
- In terms of competition risk, the Group focuses on expanding branches to strategic locations in Bangkok and having pharmacists stationed at all branches to guarantee superior quality of services.
- The Group is widely recognized in pharmacist professional group, as it has been offering internship programs for pharmaceutical students from leading universities for years. This has efficiently mitigated the risk of pharmacist shortage.
Recent Awards and Recognitions
- Gold Medal for the invention Prime B0051 plus at the 2021 Japan Design, Idea & Invention Expo, August 18-20, 2021
- Silver Medal for the Invention Innovation Entitled: BESUTO-12 at the iCAN 2020 (Toronto, Canada), August 29, 2020
- Special Award in recognition of excellent invention/innovation of BESUTO-12 at the iCAN 2020 (Toronto, Canada), August 29, 2020
- Silver Medal for SPECIAL EDITION 2022 from Cell Matrix Technology Prime VISON Product - INVENTION GENEVA EVALUATION DAYS, March 28, 2022
- Gold Medal for the invention Prime MOVX2 -2022 Japan Design, Idea & Invention Expo, July 1-3, 2022
- Gold Medal for the invention Prime KIN - 2024 Japan Design, Idea & Invention Expo, July 5-7, 2024
Revenue Structure
Stock Information
mai / SERVICE
| as of 30/09/24 | HL | SERVICE | mai |
|---|---|---|---|
| P/E (X) | 30.69 | 135.73 | 38.03 |
| P/BV (X) | 2.44 | 2.16 | 1.79 |
| Dividend yield (%) | 1.74 | 2.26 | 2.10 |
| 30/09/24 | 28/12/23 | 30/12/22 | |
|---|---|---|---|
| Market Cap (MB) | 2,339.20 | 2,828.80 | 6,691.20 |
| Price (B/Share) | 8.60 | 10.40 | 24.60 |
| P/E (X) | 30.69 | 35.81 | 62.92 |
| P/BV (X) | 2.44 | 3.02 | 7.38 |
CG Report:
-
Company Rating:
Major Shareholders
as of 14/03/2024
Company Information and Contact
http://www.healthleadgroup.com
ir@healthleadgroup.com
0-2118-0884
99/4, Moo 10, Bang Muang Sub-District, Bang-Yai District Nonthaburi 11140
Other Trading Info. :
https://www.settrade.com/C04_01_stock_quote_p1.jsp?txtSymbol=HL
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