“PRINC” REVEALS Q2/22 BUDGET WITH A PROFIT OF 165.5 MILLION BAHT, A STRONG GROWTH OF 196.9% WITH A TOTAL REVENUE OF 1.75 BILLION BAHT, HIGHLIGHTING THE STRATEGY TO ACCEPT PATIENTS FROM NEIGHBORING COUNTRIES.

In the second quarter of 2022, if only the existing hospital business revenue is considered, the total income increases to 733.3 million baht, an increase of 87.6% compared to the same period last year. All hospitals have more income. In particular, Princ Hospital Suvarnabhumi has a higher income of 233.4 million baht (96.0%), Princ Hospital Lamphun of 93.6 million baht (234.2%), Wiratsilp Hospital of 56.0 million baht (100.4%), Princ Hospital Ubon Ratchathani of 38.9 million baht (182.1%), and Princ Hospital Sisaket of 28.0 million baht (158.5%). The main factor leading to an increase in income is providing services to customers who come to hospital to have their body checked and to get treatment of COVID-19.

In addition, we have small medical businesses that are not hospitals, such as Klaibaan Klaijai clinics, a clinic in the network of Thailand’s National Health Security Office (NHSO), taking care of COVID-19 patients and also providing other medical services. We are currently operating 17 branches, and we target 20 branches this year. This quarter, Klaibaan Klaijai clinics have revenue of 36.4 million baht, which is 28.8 million baht higher than the same quarter of the previous year. We also have just started to operate a beauty clinic business named Pewdee Clinic, and the revenue is shown in the second quarter of 2022. We are currently running 11 branches, and we target 14 branches this year. This quarter, Pewdee clinic has revenue of 38.2 million baht. Meanwhile, real estate business revenues increased by 28.7 million baht (37.7%), increasing from the measures regarding economy and tourism push. Due to the government’s relaxation of COVID-19 preventive measures, the number of tourists both Thai and foreigners becomes higher. This makes the overview of the 2nd quarter of 2022 net profit of 165.5 million baht. It increased from a net loss of 170.8 million baht at the same period last year, growing 196.9%. It is another quarter that profits in only one quarter is more than the net profit in the year 2021, with a net profit of 92.9 million baht.

However, the cooperation with the government to take care of COVID-19 patients helps continuously increase the number of patients with other types of diseases to use services at our hospitals as well. Besides that, the number of foreign and Thai tourists is continuously increasing, and it leads to growth in medical and real estate businesses. This year, the benefit from the recognition of revenue from the opening of 2 more hospitals last year, including Princ Hospital Sisaket and Princ Hospital Lamphun, plus with the investment in Pewdee Clinic, a beauty business, in the 1st quarter of year 2022.

“Q2 of 2022 is considered the quarter of the company’s business expansion. In addition to taking care of people amid the COVID-19 outbreak, the company also expanded in depth by opening more medical centers and clinics to treat more complex diseases, including the opening of a Gastroenterology and hepatology center, a Cardiac Cath- Lab and CCU at Princ Hospital Suvarnabhumi, a NCDs Care Center at Pitsanuvej Uttaradit Hospital. We also developed our health check-up centers and created medical products against symptoms of the Long Covid. We also accelerate the broad business expansion, by seeking new potential markets both domestically and internationally. After the border was opened, we have more foreign customers using medical services at our hospitals. The number of cases has increased, and we have had more than 2,000 foreign patients in the past two months, especially those from Laos, Myanmar and Cambodians. They came back to be treated at many of our affiliated hospitals”, said Mr.Tanee

However, according to the earnings of the second quarter of 2022, the company continues to grow outstandingly and plans to set a conservative growth target. It is expected that revenue of this year will grow 20 – 25% from the year 2021, which has total revenue of 5,058.8 million baht. The company is ready to continue to expand investment in the hospital business as planned in 2022, at least 2 – 3 more places. The investment is, however, still in the process of negotiation. There will be both a Greenfield model and an acquisition. The company only focuses on diversifying investments into secondary urban areas with business opportunities along with considering the rate of access to health care services of people in the area as well. This is in line with the aspiration of being an organization that develops people to have a mind of being a giver in terms of public health, society, and the environment according to the ESG guidelines. The company has set a goal to become a sustainable hospital in 2023, pushing the process of creating engagement in taking care of society and environment along with sustainable development.