AI assistant
CHC — Investor Presentation 2019
May 13, 2019
52389_rns_2019-05-13_f3066a25-3782-4333-b27a-d55591164b4d.pdf
Investor Presentation
Open in viewerOpens in your device viewer
==> picture [594 x 127] intentionally omitted <==
==> picture [128 x 127] intentionally omitted <==
==> picture [452 x 57] intentionally omitted <==
2019 1[st] Institutional Investor Conference
4164 TT
May 14, 2019
==> picture [159 x 51] intentionally omitted <==
Disclaimer
-
The information contained in this confidential document ("Presentation") has been prepared by CHC Healthcare Group (the "Company"). It has not been fully verified and is subject to material updating, revision and further amendment.
-
While the information contained herein has been prepared in good faith, neither the Company nor any of its shareholders, directors, officers, agents, employees or advisers give, have given or have authority to give, any representations or warranties (express or implied) as to, or in relation to, the accuracy, reliability or completeness of the information in this Presentation, or any revision thereof, or of any other written or oral information made or to be made available to any interested party or its advisers (all such information being referred to as "Information") and liability therefore is expressly disclaimed. Accordingly, neither the Company nor any of its shareholders, directors, officers, agents, employees or advisers take any responsibility for, or will accept any liability whether direct or indirect, express or implied, contractual, tortious, statutory or otherwise, in respect of, the accuracy or completeness of the Information or for any of the opinions contained herein or for any errors, omissions or misstatements or for any loss, howsoever arising, from the use of this Presentation.
-
Neither the issue of this Presentation nor any part of its contents is to be taken as any form of commitment on the part of the Company to proceed with any transaction and the right is reserved to terminate any discussions or negotiations with any prospective investors. In no circumstances will the Company be responsible for any costs, losses or expenses incurred in connection with any appraisal or investigation of the Company. In furnishing this Presentation, the Company does not undertake or agree to any obligation to provide the recipient with access to any additional information or to update this Presentation or to correct any inaccuracies in, or omissions from, this Presentation which may become apparent.
-
This Presentation should not be considered as the giving of investment advice by the Company or any of its shareholders, directors, officers, agents, employees or advisers. Each party to whom this Presentation is made available must make its own independent assessment of the Company after making such investigations and taking such advice as may be deemed necessary. In particular, any estimates or projections or opinions contained herein necessarily involve significant elements of subjective judgment, analysis and assumptions and each recipient should satisfy itself in relation to such matters.
-
This Presentation includes certain statements that may be deemed “forward-looking statements”. All statements in this discussion, other than statements of historical facts, that address future activities and events or developments that the Company expects, are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in forward-looking statements.
2
Company Introduction
-
Name: CHC Healthcare Group (4164 TT)
-
Date of Establish: 2009/11/27
-
(First subsidiary, Chiu Ho Instruments & Reagent, was founded in 1977)
-
President: Mr. Pei-Lin, Lee
-
Headquarters: Taipei
-
Branches: Taichung, Kaohsiung, Beijing, Guangzhou & Jakarta
-
Major Business: Providing Medical Equipment Full Service Solutions
-
Paid-in Capital: NT$ 1,399,136,210
-
Listing Date: 2012/10/24
==> picture [144 x 33] intentionally omitted <==
3
Company Milestones
1977 Founded Chiu Ho Instruments & Reagent Co., Ltd 2019 Introduced full service solution to Indonesia Achieved ISO 9001 Certification 1985 Introduced radiotherapy equipment 2018 Achieved OHSAS 18001 Certification 1997 Became Taiwan distributor for Elekta Held “2017 International Elderly Care Industry Leaders 2017 Forum” 1998 Established full service solution in Taiwan IBA first official revenue sharing contract signed in Taiwan IBA first official direct selling contract signed in Taiwan 1999 Installed the first Elekta IMRT linac in Taiwan 2016 Announced entering Taiwan’s long-term care market Acquired SHIH-LU 2006 Established Ophthalmology Dept & become 2015 Taiwan distributor for Bausch & Lomb Officially entered into Indonesia market 2009 Founded CHC Healthcare Group Became Taiwan distributor for GE of diagnostic imaging 2013 equipment and molecular medical imaging systems Listed in Taipei Exchange (originally known as GreTai 2011 Securities Market) as Emerging Stock 2012 Listed in Taiwan Stock Exchange on Oct 24, 2012 Became Taiwan distributor for IBA Proton Therapy System Became South China distributor for Elekta
==> picture [144 x 33] intentionally omitted <==
4
Achieved ISO & OHSAS Certification
==> picture [133 x 133] intentionally omitted <==
==> picture [216 x 306] intentionally omitted <==
==> picture [217 x 306] intentionally omitted <==
ISO 9001 Quality management systems OHSAS 18001 Occupational Health and Safety Management Systems
==> picture [144 x 33] intentionally omitted <==
5
Annually Operating Revenue - 2014~2018
==> picture [720 x 284] intentionally omitted <==
----- Start of picture text -----
(NT$ thousand)
2,800,000
2,507,466
2,395,331
2,400,000
2,205,206
2,091,026 2,117,116
2,000,000
1,600,000
1,200,000
800,000
400,000
-
2014 2015 2016 2017 2018
----- End of picture text -----
==> picture [144 x 33] intentionally omitted <==
6
Earnings Distribution & Dividend Yield - 2014~2018
| (NT$) 0% 1% 2% 3% 4% 5% 6% 7% 8% 9% 10% 0 0.5 1 1.5 2 2.5 2014 2015 2016 2017 2018 Cash dividends per share Dividend yield |
Cash dividends per share (NT$) Average closing price for the year Dividend yield 2014 2 72.86 3% 2015 2.004 56.22 4% 2016 1.004 49.68 2% 2017 1.1 40.69 3% 2018 1.8* 33.87 5% 2018 earnings distribution has not been resolved by annual shareholders’ meeting* |
|---|---|
==> picture [144 x 33] intentionally omitted <==
7
Annually Results - 2018 VS 2017
| -100,000 200,000 500,000 800,000 1,100,000 1,400,000 1,700,000 2,000,000 2,300,000 2,600,000 (NT$ thousand) |
Operating Revenue Gross Profit Net Operating Income Net Profit Profit (parent) 2017 2018 |
2017 | 2018 | ||
|---|---|---|---|---|---|
| Operating Revenue | 2,117,116 | 2,507,466 |
|||
| Gross Profit | 688,653 | 730,786 |
|||
| Gross Margin(%) | 32.53% | 29.14% |
|||
| Net Operating Income | 352,875 | 459,981 |
|||
| OP Margin (%) | 16.67% | 18.34% |
|||
| Net Profit | -89,286 | 317,829 |
|||
| Net Margin (%) | -4.22% | 12.68% |
|||
| Profit (parent) | -86,695 | 323,422 |
|||
| Net Margin (parent)(%) | -4.09% | 12.90% |
|||
| EPS (NT$) | -0.62 | 2.32 |
==> picture [144 x 33] intentionally omitted <==
8
Product Mix - 2018 VS 2017
==> picture [679 x 265] intentionally omitted <==
----- Start of picture text -----
Service
revenue
Service
10%
revenue
13%
Sales
Sales revenue revenue
47% 38%
Revenue
Revenue
Sharing Sharing
43% 49%
2017
Value-Added Business Model
2018
----- End of picture text -----
==> picture [144 x 33] intentionally omitted <==
9
Quarterly Results - 2019Q1 VS 2018Q1
| 0 100,000 200,000 300,000 400,000 500,000 600,000 700,000 (NT$ thousand) |
Operating Revenue Net Operating Income Net Profit Profit (parent) 2018 Q1 2019 Q1 |
2018 Q1 2019 Q1 Operating Revenue 404,255 630,110 Net Operating Income 54,424 75,715 OP Margin (%) 13.46 12.02 Net Profit 16,680 58,215 Net Margin (%) 4.13 9.24 Profit (parent) 17,350 59,766 Net Margin (parent)(%) 4.29 9.49 EPS (NT$) 0.12 0.43 (NT$ thousand) |
|
|---|---|---|---|
==> picture [144 x 33] intentionally omitted <==
10
Monthly Operating Revenue - 2019 VS 2018
| 0 100,000 200,000 300,000 400,000 500,000 600,000 700,000 800,000 900,000 1,000,000 (NT$ thousand) |
Jan Feb Mar Apr YTD 2018 2019 |
2018 2019 YoY Jan 141,057 168,412 19.39% Feb 105,849 190,925 80.37% Mar 157,349 271,655 72.64% Apr 222,574 270,559 21.56% YTD 626,829 901,551 43.83% (Self-assessed information, NT$ thousand) |
|
|---|---|---|---|
==> picture [144 x 33] intentionally omitted <==
11
Solid Partnership with Top Global Brands
==> picture [65 x 56] intentionally omitted <==
Radiation Oncology Medical Imaging Ophthalmology Neuroscience
==> picture [54 x 51] intentionally omitted <==
==> picture [72 x 46] intentionally omitted <==
==> picture [62 x 44] intentionally omitted <==
==> picture [87 x 29] intentionally omitted <==
==> picture [94 x 34] intentionally omitted <==
==> picture [83 x 28] intentionally omitted <==
==> picture [92 x 35] intentionally omitted <==
==> picture [120 x 22] intentionally omitted <==
==> picture [81 x 18] intentionally omitted <==
==> picture [86 x 28] intentionally omitted <==
==> picture [111 x 31] intentionally omitted <==
==> picture [110 x 33] intentionally omitted <==
==> picture [83 x 21] intentionally omitted <==
==> picture [71 x 66] intentionally omitted <==
==> picture [83 x 34] intentionally omitted <==
==> picture [117 x 17] intentionally omitted <==
==> picture [85 x 16] intentionally omitted <==
==> picture [169 x 43] intentionally omitted <==
==> picture [79 x 50] intentionally omitted <==
==> picture [107 x 50] intentionally omitted <==
==> picture [80 x 39] intentionally omitted <==
==> picture [70 x 70] intentionally omitted <==
==> picture [54 x 55] intentionally omitted <==
==> picture [89 x 29] intentionally omitted <==
==> picture [144 x 33] intentionally omitted <==
12
Elekta Linear Accelerator
Versatile, all-in-one radiotherapy system
・ ・ Versa HD™ – Precise Intelligent Quality Assured
==> picture [144 x 33] intentionally omitted <==
13
Elekta MR-Linac
==> picture [720 x 252] intentionally omitted <==
Unity – Two worlds, one future
==> picture [144 x 33] intentionally omitted <==
14
==> picture [701 x 361] intentionally omitted <==
----- Start of picture text -----
Elekta MR-Linac
Unity
----- End of picture text -----
15
Elekta MR-Linac
==> picture [489 x 306] intentionally omitted <==
----- Start of picture text -----
CT MR
Prostate?
Prostate!
----- End of picture text -----
==> picture [144 x 33] intentionally omitted <==
16
IBA Proton Therapy
==> picture [94 x 68] intentionally omitted <==
30+ 50+ 65%+ YEARS OF EXPERIENCE CENTERS IN OPERATION / DEVELOPMENT PATIENTS TREATED BY IBA
==> picture [144 x 33] intentionally omitted <==
17
IBA Proton Therapy
==> picture [94 x 68] intentionally omitted <==
A Growing Treatment Option Nowadays
(patients treated per year) 500,000 160,000 patients have already been 400,000 300,000 treated with proton therapy 300,000 200,000 100,000+ 16,200 100,000 patients have chosen IBA proton therapy system - 2015 2030 Source: IBA 2015 2030
==> picture [144 x 33] intentionally omitted <==
18
IBA Proton Therapy
==> picture [94 x 68] intentionally omitted <==
==> picture [515 x 248] intentionally omitted <==
==> picture [144 x 33] intentionally omitted <==
19
IBA Proton Therapy
==> picture [94 x 68] intentionally omitted <==
< Pencil Beam Scanning by IBA >
==> picture [720 x 174] intentionally omitted <==
==> picture [144 x 33] intentionally omitted <==
20
IBA Proton Therapy
==> picture [94 x 68] intentionally omitted <==
Think Big, Scale Smart
S2C2: next generation cyclotron design Only compact solution with IMPT Equip with Pencil Beam Scanning Efficient workflow and operations
==> picture [144 x 33] intentionally omitted <==
ProteusONE
21
Elekta Gamma Knife
Personalized solutions from the pioneers of radiosurgery
==> picture [144 x 33] intentionally omitted <==
22
MEGIN TRIUX[TM] neo
==> picture [288 x 315] intentionally omitted <==
==> picture [205 x 155] intentionally omitted <==
==> picture [230 x 320] intentionally omitted <==
==> picture [205 x 155] intentionally omitted <==
==> picture [144 x 33] intentionally omitted <==
23
Leica Microscopes & Imaging Solutions
==> picture [262 x 147] intentionally omitted <==
==> picture [459 x 307] intentionally omitted <==
==> picture [262 x 161] intentionally omitted <==
==> picture [144 x 33] intentionally omitted <==
24
IMRIS Hybrid Surgical Theatre
==> picture [720 x 226] intentionally omitted <==
==> picture [300 x 44] intentionally omitted <==
==> picture [144 x 33] intentionally omitted <==
25
IMRIS Hybrid Surgical Theatre
==> picture [144 x 33] intentionally omitted <==
26
SONY Healthcare Solution
==> picture [710 x 285] intentionally omitted <==
----- Start of picture text -----
NUCLeUS
The smart digital
operating room platform
----- End of picture text -----
==> picture [144 x 33] intentionally omitted <==
27
SONY Healthcare Solution
==> picture [720 x 284] intentionally omitted <==
==> picture [144 x 33] intentionally omitted <==
28
CAScination Navigation Technology
==> picture [209 x 302] intentionally omitted <==
==> picture [480 x 251] intentionally omitted <==
==> picture [209 x 30] intentionally omitted <==
==> picture [144 x 33] intentionally omitted <==
29
CROWNJUN Microsurgery Nylon
==> picture [224 x 46] intentionally omitted <==
==> picture [720 x 278] intentionally omitted <==
==> picture [144 x 33] intentionally omitted <==
30
Hill-Rom Trumpf
==> picture [611 x 299] intentionally omitted <==
Hybrid OR
==> picture [144 x 33] intentionally omitted <==
31
Hill-Rom Trumpf
==> picture [447 x 282] intentionally omitted <==
==> picture [272 x 273] intentionally omitted <==
Robotic OR
==> picture [144 x 33] intentionally omitted <==
32
Hill-Rom WelchAllyn
==> picture [188 x 153] intentionally omitted <==
==> picture [188 x 153] intentionally omitted <==
Earlier Detection of Patient Deterioration
Cardiology Screening and Diagnosis
Hypertension Evaluation and Management
==> picture [188 x 152] intentionally omitted <==
==> picture [188 x 152] intentionally omitted <==
Helping Save Vision in Children and Adults
Connectivity and Data Security
==> picture [119 x 25] intentionally omitted <==
==> picture [144 x 33] intentionally omitted <==
33
==> picture [171 x 44] intentionally omitted <==
Bausch + Lomb Laser Platform
==> picture [361 x 306] intentionally omitted <==
==> picture [357 x 271] intentionally omitted <==
==> picture [144 x 33] intentionally omitted <==
34
PhysIOL Premium IOL
==> picture [88 x 88] intentionally omitted <==
==> picture [356 x 88] intentionally omitted <==
==> picture [720 x 174] intentionally omitted <==
==> picture [144 x 33] intentionally omitted <==
35
==> picture [88 x 88] intentionally omitted <==
PhysIOL Premium IOL
< G-free® Technology > Guaranteed 100% Glistening-Free
==> picture [283 x 290] intentionally omitted <==
==> picture [269 x 127] intentionally omitted <==
PhysIOL G-free[® ]
==> picture [269 x 128] intentionally omitted <==
Hydrophobic IOL with Glistenings
==> picture [144 x 33] intentionally omitted <==
36
Full Service Solution Provider “TurnKey Solutions”
==> picture [694 x 328] intentionally omitted <==
----- Start of picture text -----
Direct Selling
Manufacturer CHC Revenue Sharing Partnership Hospital & Clinic
Technical Services
Site Planning
Radiation Oncology
Site Construction
Neuroscience
Operational Consulting
Medical Imaging Installation
Surgery Education & Training
Maintenance
Ophthalmology
Upgrades
----- End of picture text -----
37
Full Service Solution Provider “TurnKey Solutions”
< Professional Team >
Yee-Min, Jen Chief Executive Officer Oncology Business Group (Director, Dept. of Radiation Oncology, Tri-Service General Hospital)
Ming-Ta, Wen Dr. Oncology Business Group (Supervisor, Dept. of Radiation Oncology, Mennonite Christian Hospital)
Chia-Ming, Wu Physician Oncology Business Group (Leader, Medical Physics Team, Dept. of Radiation Oncology, CGMH Kaohsiung)
CHC’s experienced consulting and professional technical supporting team is a critical factor in our success.
CHC already trained over 70 manufacturer certified engineers up to now.
Manufacturers also rely on CHC’s technical support and after-sales service.
==> picture [144 x 33] intentionally omitted <==
38
Full Service Solution Provider “TurnKey Solutions”
==> picture [376 x 296] intentionally omitted <==
==> picture [345 x 296] intentionally omitted <==
==> picture [144 x 33] intentionally omitted <==
39
Full Service Solution Provider “TurnKey Solutions”
==> picture [300 x 151] intentionally omitted <==
==> picture [422 x 301] intentionally omitted <==
==> picture [300 x 151] intentionally omitted <==
==> picture [144 x 33] intentionally omitted <==
40
Full Service Solution Provider “TurnKey Solutions”
==> picture [366 x 304] intentionally omitted <==
==> picture [355 x 151] intentionally omitted <==
==> picture [175 x 155] intentionally omitted <==
==> picture [181 x 156] intentionally omitted <==
==> picture [144 x 33] intentionally omitted <==
41
Medical Management Service Output to Overseas
==> picture [28 x 27] intentionally omitted <==
==> picture [35 x 34] intentionally omitted <==
==> picture [34 x 34] intentionally omitted <==
==> picture [34 x 34] intentionally omitted <==
==> picture [720 x 174] intentionally omitted <==
----- Start of picture text -----
Hospital
Management
Equipment
Provider
----- End of picture text -----
==> picture [144 x 33] intentionally omitted <==
42
Medical Management Service Output to Overseas
< Present Revenue Sharing Partnership >
Taiwan
China
Indonesia
==> picture [144 x 33] intentionally omitted <==
43
Medical Management Service Output to Overseas
LiXian People’s Hospital Zhejiang Xiaoshan Hospital Bai Cheng Zhong Yi Yuan Chenzhou NO.1 People’s Hospital
==> picture [144 x 33] intentionally omitted <==
44
Medical Management Service Output to Overseas
Mayapada Hospital Jakarta Selatan
==> picture [256 x 76] intentionally omitted <==
==> picture [265 x 212] intentionally omitted <==
==> picture [144 x 33] intentionally omitted <==
45
Medical Management Service Output to Overseas
==> picture [476 x 269] intentionally omitted <==
==> picture [246 x 124] intentionally omitted <==
==> picture [246 x 146] intentionally omitted <==
==> picture [144 x 33] intentionally omitted <==
46
Medical Management Service Output to Overseas
< In Operation >
Mayapada Hospital Tangerang BMC Mayapada Hospital Bogor
==> picture [361 x 183] intentionally omitted <==
==> picture [361 x 183] intentionally omitted <==
==> picture [200 x 60] intentionally omitted <==
< On Progress >
-
•
-
Mayapada Hospital Kuningan Mayapada Hospital Surabaya 1
-
• • Mayapada Hospital Bandung Mayapada Hospital Surabaya 2
-
• Mayapada Bail
47
Enter Elderly Care Market with New Perspective
| Year when ageing status changed | Year when ageing status changed | Year when ageing status changed | Speed of population ageing (Year) | Speed of population ageing (Year) | |
|---|---|---|---|---|---|
| Ageing Society (7%) |
Aged Society (14%) |
Super-Aged society (20%) |
7% to 14% | 14% to 20% | |
| **Taiwan ** | 1993 | 2018 | 2026(e) | 25 | 8(e) |
| Japan | 1970 | 1994 | 2005 | 24 | 11 |
| South Korea | 1999 | 2017 | 2026(e) | 18 | 9(e) |
| Singapore | 1999 | 2019(e) | 2026(e) | 20(e) | 7(e) |
| United States | 1942 | 2013 | 2028(e) | 71 | 15(e) |
| Canada | 1945 | 2010 | 2024(e) | 65 | 14(e) |
| United Kingdom | 1929 | 1976 | 2027(e) | 47 | 51(e) |
| Germany | 1932 | 1972 | 2008 | 40 | 36 |
| Norway | 1885 | 1977 | 2036(e) | 92 | 59(e) |
| Australia | 1939 | 2011 | 2034(e) | 72 | 22(e) |
*Source: National Development Council
==> picture [144 x 33] intentionally omitted <==
48
Enter Elderly Care Market with New Perspective
| 49 | • Market Gapin Taiwan | • Market Gapin Taiwan | • Market Gapin Taiwan | ||
|---|---|---|---|---|---|
| The Dependent Elderly | |||||
| Capacity | Demand | Market Gap | |||
| Amount | % | ||||
| Institution for physical incapacity |
105,066 | 421,800 | 316,734 | 75% | |
| Institution for mental incapacity |
1,291 | 155,100 | 153,809 | 99% | |
| The Independent Elderly | |||||
| Capacity | Demand | Market Gap | |||
| Amount | % | ||||
| Elderly housing for the healthy and sub-healthy elderly |
15,214 | 2,744,900 | 2,729,686 | 99% | |
| *Source: Ministry of the Interior; Ministry of Health and Welfare |
49
Enter Elderly Care Market with New Perspective
==> picture [451 x 240] intentionally omitted <==
==> picture [270 x 181] intentionally omitted <==
==> picture [270 x 140] intentionally omitted <==
- Aging in Place • Preventive Medicine • Continuing care
==> picture [94 x 36] intentionally omitted <==
==> picture [144 x 33] intentionally omitted <==
50
==> picture [164 x 108] intentionally omitted <==
==> picture [319 x 104] intentionally omitted <==
==> picture [193 x 103] intentionally omitted <==
==> picture [291 x 107] intentionally omitted <==
==> picture [161 x 102] intentionally omitted <==
Thank you
==> picture [70 x 104] intentionally omitted <==
==> picture [101 x 102] intentionally omitted <==
==> picture [170 x 114] intentionally omitted <==
==> picture [69 x 103] intentionally omitted <==
==> picture [142 x 103] intentionally omitted <==
==> picture [118 x 101] intentionally omitted <==
==> picture [144 x 33] intentionally omitted <==
51