THAI NGUYEN INTERNATIONAL HOSPITAL (TNH): REVENUE AND PROFIT INCREASED BY DOUBLE DIGITS, ANNOUNCED A 500-BED PROJECT IN HANOI

(Thai Nguyen International Hospital Joint Stock Company (code TNH – HOSE) extended the growth momentum in revenue and profit, and announced investment in the construction of a large-scale international hospital project in Ciputra (Hanoi).

Compound growth

Thai Nguyen International Hospital Joint Stock Company (code TNH) announced its financial report of 3rd quarter with positive growth. Accordingly, revenue from sales and service provision reached 186 billion VND, an increase of 43% over the same period.

After deducting cost of goods sold, financial expenses and business management expenses, the Company achieved 52.9 billion VND in pre-tax profit, an increase of 16.6% over the same period.

As of the end of the 3rd quarter, the Company’s cash and cash equivalents reached 162 billion VND, twice times higher compared to the beginning of the year, the Company’s liabilities were 377.5 billion VND. Calculated on equity of 1,579 billion VND, the Company’s debt/equity ratio (D/E) is very low, only at a coefficient of 0.24, significantly lower than the average of 2 of businesses listed on HOSE.

TNH’s financial report shows that during the period, the Company’s financial expenses decreased sharply to 4.5 billion VND, compared to 8.7 billion VND in the same period. The company has reduced short-term debt to 188 billion VND, down nearly 100 billion VND compared to the outstanding debt at the beginning of the year which is 285 billion VND. Accumulated from the beginning of the year, the Company reached 415 billion VND in revenue, pre-tax profit reached 120.5 billion VND, an increase of 22.7 and 18.8% over the same period last year.

Along with positive results in revenue and profit, the balance sheet shows that TNH’s financial health after the recent capital increase is very stable.

By the end of the period, TNH’s total assets reached 1,956 billion VND, 557 billion VND higher than at the beginning of the year. The increase in assets mainly lies in cash items and investment costs to build TNH Viet Yen hospital (Bac Giang) with a scale of 300 beds.

TNH’s financial statements also show that, as of the end of the third quarter, the Company had undistributed after-tax profits of VND 361 billion. Basic earnings per share reached 1,409 VND, because during the period, the Company completed increasing capital through stock dividends, issuing shares to existing shareholders and issuing shares for sale.

Moving towards Hanoi with a 500-bed project

On September 22, 2023, the TNH Board of Directors announced a notable resolution on the TNH Hanoi Hospital Project. Accordingly, TNH signed a contract with Nam Thang Long Urban Area Development Company Limited on the transfer of land with an area of nearly 2 hectares. This land is planned by TNH to invest in an international standard hospital project with a scale of 500 beds, total investment of 2,500 billion VND, expected to start construction in 2024.

Talking with TNH leaders, it is known that building a hospital in Hanoi will bring great advantages for the long-term development of the Company. The TNH Hanoi project is built in a prime location, located in the capital’s most advanced urban area today, Ciputra Hanoi Urban Area (Nam Thang Long) with a total planning area of more than 300 hectares. With such a scale, the number of residents and the need for health care are huge. Therefore, TNH believes that this is an ideal location to develop a hospital with an abundant customer base and high income.

In addition, the reason TNH opened a hospital in Hanoi is also to attract and create high-quality human resources to develop hospitals in neighboring provinces. TNH’s Board of Directors always determines that human resource development is a prerequisite to help affirm TNH’s brand and service quality.

Human resources are always the Company’s top priority

Thus, TNH’s hospital chain will extend another notable milestone, when the Company officially sets foot in Hanoi with a large-scale project, located in one of the most high-class urban areas in the capital.

TNH is a private hospital in Thai Nguyen province, established in 2013. Initially, TNH only had one hospital in Thai Nguyen province, with 150 beds and 950 medical services. After that, TNH expanded to 2 hospital facilities, with a total of 550 beds and 1,300 medical services in 2021.

On February 9, 2023, TNH started construction of TNH Viet Yen Hospital, Bac Giang with a scale of 300 beds, with a prime location in the industrial park capital of Bac Giang province. The project has completed the rough construction and is currently in the stage of completing and installing construction equipment. It is expected that in the second quarter of 2024, TNH Viet Yen Hospital will go into operation.

Before starting the TNH Viet Yen hospital project, TNH won the auction for the land of the General Hospital of Lang Son province (old). Company leaders said that they are completing legal procedures and construction documents to deploy construction investment as soon as possible.

Developing a hospital system chain is an ambitious plan of TNH but also a great growth opportunity for the Company when the projects operate effectively, meeting the people’s needs for high-quality medical examination and treatment.

Source: tinnhanhchungkhoan.vn