Healthcare Service Sector Tests Positive for Covid-19…?
Healthcare Service Sector Tests Positive for Covid-19...?
Healthcare Service Sector Tests Positive for Covid-19...?
31 ส.ค. 2563

Covid-19 pandemic has created a great damage on Thailand’s economy and the healthcare industry is also severely affected by this outbreak. As a consequence of lockdowns and travel restrictions, the health care service sector’s consolidated operating during the second quarter of 2020 has collapsed, and profit has gone immediately.   
Moreover, in the midst of a health crisis, people see hospitals as a high-risk place of infection, they thus avoid going there, resulting in a drastic reduction in 2Q20 core profit…  
The hospital which is most dependent on non-thai patients like Bumrungrad Hospital Public Company Limited (BH) recorded a decreasing profit of 93.9% to 44 million baht in 2Q20F from 725 million baht in 2Q19. 
Total revenues in 2Q20F dropped 43.4% YoY to 2,422 million baht, mainly due to a decrease in revenues from non-Thai patients by 58.9% and from Thai patients by 13.0%.
Bangkok Dusit Medical Services Public Company Limited (BDMS) also reported a drop in revenues from hospital operations by 30% YoY to 13,080 million baht. The income from international patients plunged 58%, mainly from a decrease in Middle East patients 86%, Australia patients 74% and CLMV patients 65%, while income from Thai patients dropped 22%, leading a 2Q20F core profit to stand at 458 million baht decreased 75% from 1,865 million baht in 2Q19.
Ekachai Medical Care Public Company Limited (EKH), which mainly gains revenue from the Center for Infertility, posted a total income of 116 million baht decreased by 45.30% YoY, making a turnaround to book loss of 223 million baht from a net profit of 32 million baht in 2Q19.    
Ladprao General Hospital Public Company Limited (LPH)’s revenue from hospital operation was 332 million baht decreased 1.15% YoY, due to a 10.09% decrease in revenue from general clients, while revenue from Social Security Fund grew 12.85% YoY, due to the increase in medical service rate granted from Social Security Office. However, LPH as well posted a turnaround to net loss of 5 million baht as an incremental expenses and taxes related to the sale of investment property.
Thonburi Healthcare Group Public Company Limited (THG) reported a net loss of 125 million baht compared to a profit of 223 million baht in 2Q19F. Total revenue was 1,580 million baht, decreasing by 21.4% YoY, as a result of a decrease in medical service business and healthcare solutions providers.
Meanwhile Bangkok Chain Hospital Public Company Limited (BCH) and Chularat Hospital Public Company Limited (CHG) are the only two healthcare services stocks that could maintain an increasing profit. BCH’s core profit was 278 million baht in 2Q20F, increasing from 243 million baht a year ago. CHG’s profit was 154 million baht, rising by 26% YoY to 122 million baht.