Sales from Medical Segment Boosts WINMED’s 3Q24 Earnings 28% Higher

Winnergy Medical Public Company Limited (SET: WINMED) has announced 3Q24 consolidated financial statement through the Stock Exchange of Thailand as follows;

Quarter 3Q24 3Q23
Net Profit (Loss)

Million Baht

10.47 8.14
Earning Per Share

(Baht)

0.0262 0.0204
% Change 28.57
9 Months 2024 2023
Net Profit (Loss)

Million Baht

16.05 18.95
Earning Per Share (Baht) 0.0401 0.0474

 

WINMED reported a net profit in 3Q24 of Baht 10.47 million, an increase of Baht 2.33 million or 28.57% compared to the same period of the previous year.

Meanwhile, the operating results for the nine months ended 30 September 2024, the company reported a net profit according to the consolidated financial statements of Baht 16.05 million, a decrease of Baht 2.91 million compared to the same period of the previous year.

In the third quarter of 2024, the company had total operating revenue of 188.39 million baht, a decrease of 1.66 million baht or 0.87%. For the nine months of 2024, the total operating revenue was 469.64 million baht, a decrease of 20.21 million baht or 4.13% compared to the previous year.

The revenue proportions for the medical products group in the third quarter of 2024 and the nine months period were 95.26% and 93.14%, respectively. For the consumer group, the revenue proportions for the third quarter of 2024 and the nine months period were 1.72% and 3.53%, respectively.

In the third quarter of 2024 and the nine months of 2024, total operating revenue decreased by 1.66 million baht and 20.21 million baht, compared to the previous year.

This decline is attributable to revenue recognition from the Antigen Test Kit (ATK) product group in the third quarter of 2023 and the nine months of 2023, amounting to 27.20 million baht and 32.34 million baht, which represented 14.07% and 6.53% of total revenue, respectively.

However, when focusing solely on the medical products group, revenue increased by 25.10 million baht. The main reasons for this growth were the delivery of the CliniMACS Prodigy system by the company to the Division of Hematology, Department of Medicine, Faculty of Medicine Siriraj Hospital, for the treatment of blood cancer patients, as well as the launch of a new initiative under the name “Winmed Cares.”