BDMS Posted 1Q22 Net Profit of THB 3.44 Billion, Increasing by 157% YoY

Bangkok Dusit Medical Services Pcl. (SET: BDMS) announced its 1Q22 consolidated financial statement through the Stock Exchange of Thailand as follows:

Quarter 1Q22 1Q21
Net Profit (Loss)
Million Baht



Earning Per Share



% Change 157%


The company posted net profit of THB 3,443 million an increase of 157% YoY. Continued cost reduction program helped lifted EBITDA by 18% and net profit by 31% from 4Q21.

In 1Q22, total operating income was Baht 23,159 million, an increase of Baht 6,878 million or 42% yoy, primarily due to:

  • Revenues from hospital operations were Baht 22,165 million, an increase of Baht 6,854 million or 45% yoy mainly from an increase in Thai patient revenues of 38% yoy from both COVID- 19 and recovery of non COVID-19 patients. Meanwhile International patient revenues increased 72% yoy as results of Test and Go Program, no mandatory quarantine for the fully vaccinated travelers traveling by air , since November 2021. Growth of international patients was mainly from fly-in patients i.e. Middle East patients +256% yoy, CLMV patients (Cambodia, Laos, Myanmar and Vietnam) +58% yoy. Moreover, expatriate patients from Germany, UK and Japan grew by 112% yoy, 62% yoy and 28% yoy respectively, supporting strong growth in international patient revenues. As the result, revenue proportion
  • The COVID-19 related revenue increased from 4% in 1Q21 to 17% of revenues from hospital operations in 1Q22. If excluding this item, revenue from non COVID-19 would increase 24% from 1Q21

In addition, inpatient revenues grew significantly at 54% yoy resulting in an increase in occupancy rate from 46% in 1Q21 to 80% in 1Q22 (excluding hospitel and field hospital). Occupancy rate of COVID-19 patients was 87% and occupancy rate of non COVID-19 patients was 76%.