EC Healthcare Announces FY2022/23 Interim Results, Revenue Increased 31.1% YoY Mainly Driven by Medical Services
— Total revenue increased by 31.1% YoY to
— Revenue from medical services segment rose by 47.5% YoY to
— Revenue from aesthetic medical and beauty and wellness services segment decreased by 2.0% YoY to
— Driven by previous acquired veterinary business, revenue from other services increased by 301.9% YoY to
— Organic revenue(1) increased by 22.8% YoY to
— EBITDA during the period was
— Net profit after tax for during the period was
— Basic earnings per share during the period amounted to 6.8 HK cents
— The Board declared an interim dividend of 5.8 HK cents per Share, representing a payout ratio of 85.3%, which will be payable in cash
— As at
— The Group’s suite of medical services spans 35 specialties and disciplines, and the number of full-time and exclusive registered practitioners has increased to 293
— The Group has maintained premium service quality with 99.98%(6) of customers’ satisfaction rate
— The contribution from existing customers accounted for 71.6%(3,7) to the Group’s total revenue.
— Customer loyalty remained high with repurchase purchase rate of 93.7%(4,7).
— Total number of service points increased to 154, total gross floor area (“GFA”) increased by 24.1% YoY to approximately 557,000 sq. ft
During the Period, the Group stayed resilient in the face of multiple challenges, including global economic downturn, absence of medical tourism amidst prolonged travel restrictions, weak local retail sentiment and business disruptions caused by the fluctuation of COVID-19. Thanks to robust demand on the Group’s medical services and its diversified business strategy, the Group was still able to increase its medical market share, diversifying its scope of services, and bolstering its leading position in the healthcare sector as
The demand for medical services provided by the Group remains strong, and the Group able to increase its market share during the period. During the Reporting Period, sales volume increased by 18.3% year-on-year (“YoY”) to
Nevertheless, the Group’s net profit after tax for during the period decreased by 46.3% YoY to
With excellent customer service provided by the professional teams, the Group had built a loyal customer base through our enclosed ecosystem over the years. During the Period, the number of unique customers steadily increased to 122,883(2,7) and the contribution from existing customers accounted for 71.6%(3,7) to the Group’s total revenue. Customer loyalty remained high with repurchase purchase rate of 93.7%(4,7). Driven by the synergies created by the Group’s enclosed healthcare ecosystem, over 28.1%(5) of its customers had made purchases across its various brands in the Period. Meanwhile, the Group maintained premium service quality with 99.98%(6) of customers’ satisfaction rate.
The number of service points increased through organic expansion and acquisitions. As at
Strong growth in medical segment
Medical segment being the essential needs and continued to be the key growth driver. The Group continued to gain market share in the healthcare services industry through both organic expansion and M&A growth. Revenue from the Group’s medical services segment rose by 47.5% YoY to
Mild decline in aesthetic medical & beauty and wellness services segment
During the Period, revenue contributed by aesthetic medical and beauty and wellness services decreased by 2.0% YoY to
Booming growth in others segment
During the Period, revenue from other services increased by 301.9% YoY to
As part of our accretive acquisition strategy, we will continue to diversify within the medical and beauty sectors with acquired brands that are complementary and add value to our core business in order to build a one-stop healthcare and wellness platform to expand customer’s lifetime value. We will also expand the strategic partnerships with key players in technology, telecom, insurance, property, and pharmaceutical industries to form our healthcare ecosystem.
We have been striving to improve our operational excellence by enhancing corporate structure and management capability, optimizing our resources with priorities through digital transformation. The Group will continue to enhance its talent’s productivity and loyalty through the unique “Co-Owner” and “Servant Leadership” company culture.”
The Group principally engages in the provision of one-stop medical and health care services in
*According to independent research conducted by
1 Total revenue minus revenue recognized from the newly acquired assets during period.
2. Based on revenue for the year.
3. Revenue contribution by existing customers to the total revenue for the period
4. Annualise revenue from old customers during the reporting period, divided by FY22 total revenue.
5. Number of customers who purchased services from more than one brand for the period divided by total number of customers for the period. Based on data from internal system, include data from 31 brands
6. 100% minus the percentage of material unfavorable feedback of total revenue for the period
7. Based on data from internal system, include data from 39 brands
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