Bangkok Dusit Medical Services Public Company Limited (SET: BDMS)’s Investor Relations (IR) informed Kaohoon about the company’s 2Q25 performance as its revenue generated from medical service would grow from the same quarter from the previous year, which had revenue of THB 26 billion and net profit of THB 3.33 billion.
This development is due to the rise of international patients from the Middle East and Arab, compensating for the decline of Cambodian and Chinese patients.
The company will hold an executive meeting to approve its second quarter financial statement and publish it on August 13.
BDMS expected a positive performance in the third quarter due to the rainy season, a period when illnesses such as dengue fever, and respiratory diseases spread, along with the increase of patients who suffer from serious illness, such as cancers, neurological and orthopedic diseases, and accident-related injuries.
The company estimated that its annual revenue generated from medical service will grow 4 – 6% from the last year’s revenue of THB 109 billion.
Pi Securities has recommended a “BUY” rating for BDMS, with a target price of THB 26 per share, citing the company’s strong business base. The securities firm also estimated that BDMS’s revenue and net profit this year would reach THB 113.97 billion and THB 16.77 billion, respectively.
Furthermore, Pi Securities speculated that BDMS’ second quarter net profit would reach THB 3.4 billion, a 1% growth YoY but a 22% decline QoQ, due to the off-season factor as the number of patients dropped. Although the revenue generated from Middle East and European patients may increase by 30% and 7 -10%, respectively, the revenue generated from Cambodian, Chinese, and fly – in patients may slow down.
As for BDMS’ third quarter performance, the securities firm estimated a strong growth due to seasonality factor as several schools begin their semester while several diseases spread during the rainy season. The patient’s number is likely to increase from the second quarter’s volume.
The proportion of patients with complex disease is also likely to increase, possibly increasing the BDMS’ gross profit margin to 35 – 37%. In addition, the company also plans to open two new hospitals, Bangkok Chianmai and Phayathai Bowin, adding bed services of 90 and 220 units, respectively.
