How are hospitals on the inventory alternate doing?

With a inhabitants of almost 100 million folks with growing revenue, the extent of concern about well being of Vietnamese folks is growing.

Statistics present that every yr, Vietnamese folks presently look at a mean of two.1 occasions a yr with a mean quantity of 129 USD/individual (roughly three million VND/individual), of which as much as 37% is medication. . With this degree of well being spending, Vietnam is at a low degree in Southeast Asia. This exhibits that the expansion potential of the well being sector remains to be very massive.

As a relatively particular enterprise, attracting nice consideration from traders, the presence of hospitals on the inventory alternate is kind of uncommon. At present, there are solely 2 enterprises on the inventory alternate, particularly Tam Duc Coronary heart Hospital (TTD) and Thai Nguyen Worldwide Hospital (TNH). As well as, Hospital Transport, though it has carried out an IPO, has not but listed on the inventory alternate.

The primary hospital listed on HoSE with a revenue of 50 billion dong within the first half of 2021

Final January 2021, TNH shares of Thai Nguyen Worldwide Hospital Joint Inventory Firm was formally registered as the primary inventory listed on the inventory alternate, the constitution capital is presently VND 415 billion, equal to 41.5 million excellent shares.

That is thought-about a breakthrough step of TNH after simply over 7 years of operation in February 2014. In distinction to the timeline when it was newly established, the scale of TNH was 150 hospital beds with a constitution capital of 28 billion VND. Within the interval of 2017-2019, TNH’s income and revenue didn’t have a big distinction. By the tip of 2019, TNH had constructed and put into operation another member hospital, Yen Binh Thai Nguyen Normal Hospital, and elevated its capital almost 15 occasions to VND 415 billion.

By way of enterprise outcomes, TNH recorded a powerful development of 22% in 2020, which can also be the premise for the plan set out in 2021 to proceed double-digit development.

  How are hospitals on the stock exchange doing?  - Photo 1.

Relating to the shareholder construction at TNH, Chairman of the Board of Administrators Hoang Tuyen presently holds the most important possession charge with 19.2% of the whole shares, along with four different main shareholders who’re all people.

Within the first half yr of itemizing, the hospital recorded a income of VND 185 billion, up 30% in comparison with the identical interval final yr. Nevertheless, the curiosity bills in addition to the wage for employees elevated sharply, which significantly eroded the revenue margin of this hospital. As of June 30, 2021, TNH’s whole loans and finance lease debt is greater than VND 473 billion, primarily long-term loans at a sequence of banks.

Because of the debt burden, TNH’s NPAT elevated solely barely by 6% to VND50 billion, in comparison with the goal of simply 36% of the goal. Nevertheless, the hospital mentioned that the enterprise cycle primarily recorded income within the final 6 months of the yr, so TNH was nonetheless assured to finish the plan set out in 2021.

TNH inventory available in the market is buying and selling in historic worth vary from the start of August, bringing the liquidity up from a couple of hundred thousand to just about 2 million shares matched. On August 18, TNH set a historic peak of 43,300 dong/share, then dropped barely by 400 dong to 42,900 dong/share (August 19).

  How are hospitals on the stock exchange doing?  - Photo 2.

TNH inventory set a historic peak of 43,300 dong/share within the final 18/eight session

Coronary heart Hospital listed on UPCoM since 2017, the 2nd quarter web revenue went again to just one billion dong

The truth is, earlier than TNH, there was a hospital – though not listed – however had been buying and selling on UPCoM since 2017, that’s Tam Duc Coronary heart Hospital JSC (Inventory code: TTD) presently headquartered in Ho Chi Minh Metropolis.

Opposite to the upward momentum of TNH, within the second quarter alone, Tam Duc Coronary heart Hospital solely achieved a income of 111 billion dong, virtually flat in comparison with the identical interval in 2020. Specifically, the burden of value of capital made the revenue margin plummeted, plus wage prices for workers elevated sharply, making TTD’s web revenue within the quarter just one billion dong, down by greater than 90% in comparison with the second quarter of 2020 – marking a low quarterly revenue. file of this coronary heart hospital.

  How are hospitals on the stock exchange doing?  - Photo 3.

Whereas TNH made large income, TTD simply recorded a file low revenue quarter

After the primary 6 months of 2021, TTD recorded a income of VND 255 billion and revenue after tax decreased by 24% to VND 19 billion, equal to 39% of the revenue goal set for the entire yr. Explaining from the hospital aspect, the director mentioned that the backwardness in outcomes stemming from the unfavourable developments of the COVID-19 epidemic prompted TTD’s mattress occupancy charge to drop to 30%.

It’s recognized that from the third quarter of 2021, TTD intends to cut back 15% of its personnel to cut back wage prices; On the identical time, the operation of two clinics in Ho Chi Minh Metropolis will likely be terminated to maximise effectivity.

On UPCoM, TTD shares have been traded across the worth vary of 50,000 VND/share, the liquidity fluctuated from a couple of hundred to a number of thousand shares matched. Closing the session on August 19, TTD’s market worth decreased by 2,800 dong to 47,300 dong/share.

  How are hospitals on the stock exchange doing?  - Photo 4.

TTD inventory actions

Hospitals associated to “election” present collected losses of VND 176 billion

In 2015, T&T Group participated within the funding when the Hospital of Transport was equitized and took management with greater than 51% of the shares.

Nevertheless, after the State shareholder re-determined the capital worth, T&T’s possession charge decreased from 51% to solely 22.07%, thereby dropping management. The hospital returned to public possession when the state capital accounted for 71.13%. Failing to satisfy the goal, T&T then issued a doc on the withdrawal of greater than 22% of its capital, however to date, Hien’s group has not been in a position to withdraw from this hospital.

By way of enterprise outcomes, the state of affairs of the Hospital of Transport has not been very constructive when from 2016 to now, it has not recorded any revenue. Final quarter, income decreased by 16% over the identical interval, solely about 27 billion dong. The price of capital utterly eroded income, inflicting the Hospital of Transport to have a gross lack of 6 billion dong.

Including administration bills, the hospital reported a lack of 11 billion dong, the primary 6 months’ web loss reached almost 24 billion dong, larger than the 17 billion dong in the identical interval of 2020. As of the tip of the second quarter, the loss Accumulation of Hospital for Transport is as much as 176 billion VND.

  How are hospitals on the stock exchange doing?  - Photo 5.

Transport Hospital has by no means recorded a revenue since equitization

Phuong Linh

Enterprise and Advertising

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