RJH : 2Q22 Earnings Grew YoY but Fall QoQ

RJH : Expect 3Q22 Earnings Trend to Drop QoQ

RJH: Resilient Performance Amidst Covid Situation

Record High Revenue Thanks to Covid-19 Diagnostics

Thai Equity - Bottom-up - Equities, Pi Securities PCL, Thailand

Pi Research

Thai Equity - Bottom-up - Equities

Leading, full-service investment firm in Thailand

Pi Securities PCL, Thailand

Pi Securities is a well known securities company with 40 years experience in the industry, serving more than 60,000 clients. We offer one - stop service providing full range of financial products and services including extensive Brokerage, Proprietary Trading (Equities and Bonds), Advisory Services, Structured Products.

Moreover, our new research team tailored for institutional clients to focus on mid to small cap of Thai equities and trading strategies. Our services offered to our premium clients also include arrangement of company or site visits to with the managements of Thai listed companies.

Note: Effective on 1 March 2022, Country Group Securities PCL changed its name to Pi Securities

Equity Bottom-Up

<ul>
<li>Yesterday’s analyst meeting came out with a neutral tone. We expect YoY growth in 4Q21 earnings, backed by robust margin upon recovery of cash patients segment, together with rising Covid-19 </li>
<li>3Q21 earnings was at Bt484m (+302%YoY, +252%QoQ), aided  by record high topline, and wider-than-expected margin from Covid services.</li>
<li>Expect 4Q21 earnings to decline QoQ, but grow YoY due to spike in IPD price, along with contribution from Covid treatment services.</li>
</ul>


Yesterday’s analyst meeting came out with a neutral tone. We expect YoY growth in 4Q21 earnings, backed by robust margin upon recovery of cash patients segment, together with rising Covid-19 
3Q21 earnings was at Bt484m (+302%YoY, +252%QoQ), aided  by record high topline, and wider-than-expected margin from Covid services.
Expect 4Q21 earnings to decline QoQ, but grow YoY due to spike in IPD price, along with contribution from Covid treatment services.


RJH: Building Back Better 22-23E Through Resilient Core Operation

Rajthanee Hospital

RJH: Building Back Better 22-23E Through Resilient Core Operation