VIBHA is good from covid

company value

Hospital groups are one of the few businesses that have benefited from the coming of the coronavirus crisis. This is reflected in the performance of all hospitals that have grown exponentially. one of them is Vibhavadi Hospital Public Company Limited or VIBHA That started in the first quarter of this year had a net profit of 454 million baht, an increase of 136.95% compared to the same period of the previous year with a net profit of 191 million baht and a total revenue of 2,395 million baht, an increase of 42.64% compared to the same period of the year. before having total income of 1,679 million baht

However, even though the covid situation began to unravel But the outlook for earnings in the second quarter of 2022 VIBHA expected to continue to grow because there is still recognition of income related to COVID both disbursement of severe and severe symptoms of COVID and revenue in the Hospital segment, which tends to decline

Including income from the alternative vaccination moderna to support until July 2022, or tens of thousands of doses of revenue in 2Q22 will be recognized in the second quarter, while in the 3rd quarter of 2022, the remainder. Around 5,000-6,000 doses, which will have a difference of 300-400 baht each before the service is cancelled.

In addition, there were also factors supporting the recognition of revenue sharing and higher investment gains. At present, the company’s investment value in various companies is approximately 5,007 million baht, including RAM, SKR, TNH, BCH, DCC, STGT, STA, RICHY and RICHY-3. As of June 2022, the market value is over 9,944 million. baht or has a profit margin of 4,937 million baht

in the near future The company aims to diversify its revenue base to foreign patients to increase to 10-20% of total revenue from less than 5% at present, which will focus on the market in neighboring countries and China. expected to support the group’s income VIBHA can grow a lot especially in in vitro fertilization (IVF) and hair transplantation, etc.

At the same time, prepare to enter the cannabis-cannabis business in full. by providing medical clinics such as cannabis clinics and LONG COVID-19 clinics, as well as bringing products to the market.

For the valuation (Valuation), the current share price VIBHA It is trading at 15.36x P/E, compared to the overall market P/E of 18.35x, it is trading below the market. However, a 2.42x P/BV is probably 1-2x higher than the average for most P/BV.

List of major shareholders

  1. F&S 79 Company Limited 2,083,909,966 shares 15.35%
  2. Mr. Chaisit Wiriyamettakul 2,037,000,000 shares 15.00%
  3. Synphaet Company Limited 1,199,859,166 shares 8.84%
  4. Ramkhamhaeng Hospital Public Company Limited 962,605,200 shares 7.09%
  5. Chaophya Hospital Public Company Limited 804,334,195 shares 5.92%

list of directors

  • Mr. Nikhom Wairatpanich Chairman of the Board of Directors, Independent Director, Member of the Audit Committee
  • Mr. Chaisit Wiriyamettakul Chairman of Executive Committee, Director
  • Mr. Phichit Wiriyamettakul Managing Director, Director
  • Mr. Chamnan Chanapai Director
  • Mr. Pongphat Patanavanich Director
  • Ms. Ruekkhajee Kanjanapithak Member
  • Mrs. Bowonphan Ratthaprasert Member
  • Mr. Sitthi Panupattanapong Director
  • Mrs. Yada Phatthakhayon Director
  • Mr. Pramuk Unachak Director
  • Mr. Pitchaya Somburanasin Director
  • General Boonlert Chantraphas Independent Director
  • Mr. Chainarin Sairungsee Independent Director, Member of the Audit Committee
  • Mr. Sirot Sawatpanich Independent Director, Chairman of the Audit Committee
  • Mr. Prasert Sriulanpong Independent Director, Member of the Audit Committee

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