Date of Report: October 1, 2024
Broker: CGS-CIMB Securities Malaysia Sdn. Bhd.

Company Overview

Chularat Hospital is a Thailand-based healthcare provider offering a wide range of medical services. The hospital group operates multiple facilities and serves a broad patient base, focusing on delivering quality healthcare services in the region.

Financial Performance

Chularat Hospital is expected to perform well in 4Q24, with anticipated revenue of THB7,200 per adjusted RW (Relative Weight), reflecting strong operational efficiency and an increase in patient volume. The hospital’s financial outlook is promising, driven by improvements in both patient inflow and service offerings.

Revenue Drivers

The revenue growth for Chularat Hospital in the fourth quarter is largely attributed to a rise in the adjusted RW metric. This increase indicates the hospital’s ability to generate higher revenue per patient, which is a positive indicator of the company’s financial health and profitability.

Investment Recommendation

The report maintains an “Add” recommendation for Chularat Hospital, with an increased target price (TP) of THB3.10. The positive outlook is supported by the hospital’s consistent ability to enhance revenue per adjusted RW and its growing patient base, both of which signal long-term growth potential.

Conclusion

Chularat Hospital is poised for a strong 4Q24 performance, with a notable increase in revenue per adjusted RW. This growth, coupled with the hospital’s strong operational framework, supports the “Add” recommendation and revised higher target price of THB3.10. The company’s steady expansion and financial health make it a compelling investment in the healthcare sector.