Healthlead Public Company Limited · SET:HL
Healthlead Public — Q1 2026 Earnings Presentation
48 slides from Healthlead Public's earnings presentation, May 18, 2026
Slide 1: Q1 2026 Earnings Call (Oppday)
Q1 2026 Earnings Call (Oppday) May 18, 2026
Slide 2: Agenda
AGENDA 01 Group Structure 02 Business Overview 03 Industry Overview 04 Future Project 05 Financial Highlights 06 Q&A 2
Slide 3: Agenda
AGENDA 01 Group Structure 02 Business Overview 03 Industry Overview 04 Future Project 05 Financial Highlights 06 Q&A 3
Slide 4: Group Structure
GROUP STRUCTURE Holding company Registered Capital : 136 million Baht Paid-up Capital : 136 million Baht 100.00% 100.00% Pharmacy retailer Developer and distributor of health products Registered Capital : 165 million Baht Registered Capital : 35 million Baht Paid-up Capital : 165 million Baht Paid-u
Slide 5: Agenda
AGENDA 01 Group Structure 02 Business Overview 03 Industry Overview 04 Future Project 05 Financial Highlights 06 Q&A 3
Slide 6: Business Model
BUSINESS MODEL ICARE HEALTH CO., LTD. HEALTHINESS CO., LTD. Pharmacy retailer selling medicines, medical supplies, Co-operate with research institutes to develop medical equipment, supplements, cosmeceutical, personal and distribute innovative and health-related care items, medical supplies and equi
Slide 7: Our Pharmacy
BUSINESS MODEL: Icare Health Co., Ltd. Our Pharmacy We are one-stop shop for health and wellness. We offer comprehensive range of health products to meet your needs. Dedicated to your well-being, we are your trusted source for quality medications and supplies. Our knowledgeable pharmacists are avail
Slide 8: Business Model: Icare Health Co., Ltd.
BUSINESS MODEL: Icare Health Co., Ltd. Medicines & Personal Healthcare Home Healthcare Medical Foods Supplements Prescription and over-the- Cosmeceuticals, skincare, A comprehensive selection of Medical foods are specially counter medications, from hair care and other personal medical supplies and f
Slide 9: Our Commitment to Quality
BUSINESS MODEL: Icare Health Co., Ltd. Our Commitment to Quality Sourcing 1 We source products from reputable manufacturers with a proven track record of quality and safety. Inspection 2 Every incoming shipment undergoes rigorous inspection to ensure it meets our high standards. Storage 3 Our pharma
Slide 10: Business Model: Our Brands
BUSINESS MODEL: Our Brands Community pharmacy Professional pharmacy Discount drug store Neighborhood area Suburban residential area Locate near leading medical school Locate in intense competition area 10
Slide 11: Current Branches: Icare Health Co., Ltd.
CURRENT BRANCHES: Icare Health Co., Ltd. 1. Thotsakan Intersection 11. La Salle 23. Foody Farm Soi Phra Ngoen 2. Save Center 12. Ratchayothin 24. Caltex Si Saman 3. Sai 2 Market 13. Susco Ekkachai 101 25. Ramkhamhaeng 59 4. Prachaniwet 1 14. Susco Phutta Bucha 26. Village Hub Pracha Uthit 90 5. Seri
Slide 12: Current Branches: Icare Health Co., Ltd.
CURRENT BRANCHES: Icare Health Co., Ltd. 1. Pradit Manutham 16. Ratchapruek 30. Jas Green Village Ramkhamhang 2. Chamchuri Square 17. Boonthavorn Suvarnabhumi 31. The Sphere Phet Kasem 3. Pure Place Ramkhamhaeng 110 18. On nut 32. Little Walk Rattanathibet 4. Nuan Chan Road 19. Lotus North Ratchapru
Slide 13: Current Branches: Icare Health Co., Ltd.
CURRENT BRANCHES: Icare Health Co., Ltd. 1. Superdrug Thepcharoen 2. Superdrug Makro Charansanitwong 3. Superdrug Hospital for Tropical Diseases Remark : Data as of 08 May 2026 13
Slide 14: Branch Location: Icare Health Co., Ltd.
BRANCH LOCATION: Icare Health Co., Ltd. Remark :Data as of 08 May 2026 14
Slide 15: Branch Location: Community Mall / Market
BRANCH LOCATION: Icare Health Co., Ltd. Community Mall / Market 50 1. Seri Market Rama 9 12. Rarm Intra KM.8 2. Save Center 13. Seri-Market PhutthaMonthon Sai 5 3. Saenee Market Phet Kasem 28 14. Thanya Market Aom Yai 4. Saenee Food Market Phet Kasem 56 15. Foody Farm Soi Phra Ngoen 5. Victoria Gard
Slide 16: Branch Location: Community Mall / Market
BRANCH LOCATION: Icare Health Co., Ltd. Community Mall / Market 50 22. Pure Place, Ramkhamhaeng 110 36. Nirvana Porch Krungthep Kreetha 23. The Jas Wanghin 37. Park Bang Na 24. The Nine Rama 9 38. Jas Green Villege Ramkhamhang 25. Food Villa Ratchaphruek 39. The Sphere Phet Kasem 26. The Crystal Eka
Slide 17: Stand Alone
BRANCH LOCATION: Icare Health Co., Ltd. Stand Alone 12 1. Thotsakan Intersection 2. Sai 2 Market 3. Prachaniwet 1 9. Pradit Manutham 4. The Trio 10. Nuan Chan 5. La Salle 11. Thonglor 13 6. Tha It Nonthaburi 12. Ratchapruek 7. Lat Phrao 136 8. Ramkhamhaeng 59 Remark : Data as of 08 May 2026 17
Slide 18: Shopping Mall / Hypermarket
BRANCH LOCATION: Icare Health Co., Ltd. Shopping Mall / Hypermarket 11 2. Chamchuri Square 3. Fashion Island 4. The Street Ratchada 5. Lotus Ladkrabang 1. Lotus Nong Chok 6. Robinson Ladkrabang 7. Seacon Srinakarin 8. Paradise Park, G Floor 9. Paradise Park, 3rd Floor 10. The Mall Bang Khae Remark :
Slide 19: Hospital
BRANCH LOCATION: Icare Health Co., Ltd. Hospital 11 1. Hospital for Tropical Diseases Remark : Data as of 08 May 2026 19
Slide 20: Business Model: Healthiness Co., Ltd.
BUSINESS MODEL: Healthiness Co., Ltd. Sanitizing Products / Odor Herbal Personal Care / Supplement Products Herbal Personal Hygiene Products / Eliminator Herbal Products 20
Slide 21: Products: Healthiness Co., Ltd.
PRODUCTS: Healthiness Co., Ltd. 212211
Slide 22: Products: Healthiness Co., Ltd.
PRODUCTS: Healthiness Co., Ltd. PRIME ASTA-NZ COMPLEX PRIME MG NITE Key Ingredients Key Ingredients Astaxanthin 6 mg. derived from the red Magnesium helps support the normal microalgae Haematococcus pluvialis, with raw functioning of the nervous system and materials imported from New Zealand. muscle
Slide 23: Rewards: Healthlead PCL.
REWARDS: HEALTHLEAD PCL. Best Innovative Company Awards : Business Excellence Company listed on mai Innovation : BESUTO12 PLUS Hand Cleansing Wash Outstanding Deal Awards : Business Excellence Capital market fund raising deal (Offering size up to 3 bn THB) (Corporate) 23
Slide 24: Rewards: Healthiness Co., Ltd.
REWARDS: Healthiness Co., Ltd. 24
Slide 25: Rewards: Healthiness Co., Ltd.
REWARDS: Healthiness Co., Ltd. 25
Slide 26: Rewards: Healthiness Co., Ltd.
REWARDS: Healthiness Co., Ltd. 26
Slide 27: Rewards: Healthiness Co., Ltd.
REWARDS: Healthiness Co., Ltd. 27
Slide 28: Events & Activities: Icare Health Co., Ltd.
EVENTS & ACTIVITIES: Icare Health Co., Ltd. Participated in the '40 Years Inspiring Futures Osotsala Pharmacy' event Targeted Professional Outreach: Showcased the company’s product portfolio at the "40 Years Inspiring Futures Osotsala Pharmacy" event, successfully driving brand awareness and buildin
Slide 29: Events & Activities: Healthiness Co., Ltd.
EVENTS & ACTIVITIES: Healthiness Co., Ltd. • Product Showcase at The Thailand Tourism & Mice Next 2026 and ATTA Monthly Meeting February 2026 Brand Awareness Expansion: Successfully showcased Q Herbal Mouth Spray and Q Herbal Nasal Spray at the ATTA Monthly Meeting (February 2026), significantly inc
Slide 30: FDA Expo 2026: From Local to Global
EVENTS & ACTIVITIES: Healthiness Co., Ltd. • FDA EXPO 2026: FROM LOCAL TO GLOBAL (23 JANUARY 2026) • “National Thai FDA Forum 2026” event 30
Slide 31: Agenda
AGENDA 01 Group Structure 02 Business Overview 03 Industry Overview 04 Future Project 05 Financial Highlights 06 Q&A 32
Slide 32: Domestic Healthcare Expenditure
INDUSTRY OVERVIEW Domestic Healthcare Expenditure • For 9M2024, Krungsri Research reported a 6.5% YoY increase in domestic healthcare sales. • Krungsri Research estimated healthcare The pharmaceuticals industry will enjoy favorable business conditions through the next three years with the forecast 6
Slide 33: Number of Drug Stores (Type: Khor Yor 1)
INDUSTRY OVERVIEW Number of Drug Stores (Type : Khor Yor 1) 25,000 • In 2025, the total number of modern 20,000 18,900 18,396 17,919 19,126 19,206 drugstores nationwide reached 17,156 16,816 16,319 3,429 3,405 5,233 13,906 3,485 3,268 19,206, reflecting a marginal increase No. of stores 15,000 4,895
Slide 34: Domestic Healthcare Expenditure
INDUSTRY OVERVIEW Domestic Healthcare Expenditure • According to Department of Health, Thailand is rapidly becoming an aging society, with the proportion of elderly exceeding 10% of the total population since 2021. By 2035, the elderly population is expected to reach 28% of the national population.
Slide 35: Agenda
AGENDA 01 Group Structure 02 Business Overview 03 Industry Overview 04 Future Project 05 Financial Highlights 06 Q&A 36
Slide 36: Expanding Healthiness' Product Portfolio
ESTIMATED CAPITAL EXPENDITURE PER BRANCH Expanding Healthiness’ Product Diversifying Distribution Channels Portfolio Healthiness collaborates with leading health and wellness Healthiness will be expanding its reach beyond HL Group professionals such as NSTDA and CuPharTech. We aim to through strateg
Slide 37: Future Projects & Estimated Investment
FUTURE PROJECTS & ESTIMATED INVESTMENT Target of 14 New Stores Estimated CAPEX per Store We aim to open 14 new stores per year in the Bangkok and Size S Size M Size L vicinity over the next few years. ~ 80 M2 80-150 M2 150-300 M2 This aggressive expansion will significantly expand our presence in th
Slide 38: Business Operation Plan 2026
BUSINESS OPERATION PLAN 2026 1 branch signed contract / 1. My park Ramkhamhaeng 154 reservation agreement 2. Branch Kaset-Nawamin 5 new branches (HN - PRIME ASTA-NZ COMPLEX 30S), (RIME MG NITE 30S) Telepharmacy Service 1Q26 2Q26 3Q26 4Q26 3. Tha Tien Market 1 branch signed contract / 4. Bang Yai Mar
Slide 39: Agenda
AGENDA 01 Group Structure 02 Business Overview 03 Industry Overview 04 Future Project 05 Financial Highlights 06 Q&A 41
Slide 40: Sales Breakdown by Categories – Quarter 1/2026
SALES BREAKDOWN BY CATEGORIES – Quarter 1/2026 Q1/2026 Q1/2025 Q4/2025 YOY QOQ Total Revenue from Sales MN THB % MN THB % MN THB % MN THB % MN THB % Revenues from Professional healthcare 418.37 71.50 387.90 68.08 400.09 70.80 30.47 7.86 18.28 4.57 Revenues from Home healthcare 67.20 11.48 75.72 13.2
Slide 41: Sales by Distribution Channels – Quarter 1/2026
SALES BY DISTRIBUTION CHANNELS – Quarter 1/2026 Q1/2026 Q1/2025 Q4/2025 YoY QoQ Distribution Channels MN THB % MN THB % MN THB % MN THB % MN THB % Revenue from Retail Sales 580.30 99.17 565.05 99.17 560.51 99.18 15.25 2.70 19.79 3.53 Revenue from Wholesales 4.84 0.83 4.75 0.83 4.61 0.82 0.09 1.89 0.
Slide 42: Group Performance – Quarter 1/2026
GROUP PERFORMANCE – Quarter 1/2026 TOTAL REVENUES OTHER REVENUES NET PROFIT 594,631,983 THB 9,499,293 THB 18,541,463 THB 2.78% YOY 8.26% YOY -9.37% YOY 594.63 GROSS MARGIN EBITDA MARGIN NET MARGIN 23.75% 8.71% 3.12% 5.33% YOY 0.67% YOY -9.37% YOY (Amount Changes) (Amount Changes) (Amount Changes) 42
Slide 43: Group Performance – Quarter 1/2026
GROUP PERFORMANCE – Quarter 1/2026 Q1/2026 Distribution Costs Maketing Others 1% 8% DISTRIBUTION COSTS TO REVENUE FROM SALES 17.41% 9.38% YOY Rent D&A Staff 36% 55% (Amount Changes) Q1/2026 Administrative Expenses Others ADMINISTRATIVE EXPENSES TO 24% TOTAL REVENUES 3.68% 0.69% YOY Rent D&A Staff 14
Slide 44: Group Performance
GROUP PERFORMANCE Liquidity Ratios Return on Asset 7.00 5.00 6.00 5.68 5.43 4.26 5.13 5.37 4.05 4.88 4.00 3.76 5.00 3.40 3.03 3.00 4.00 % x 3.00 2.00 2.00 1.00 1.00 0.00 0.00 2023 2024 2025 Q1 2025 Q1 2026 2023 2024 2025 Q1 2025 Q1 2026 Debt to Equity Ratio Return on Equity 0.70 0.65 0.59 10.00 0.60
Slide 45: Group Performance
GROUP PERFORMANCE EBIT Margin Inventory Days 8.00 80.00 7.00 73.56 6.07 75.00 6.00 5.05 4.87 4.83 70.00 5.00 4.49 63.97 64.69 Days 4.00 65.00 63.22 62.17 % 3.00 60.00 2.00 55.00 1.00 0.00 50.00 2023 2024 2025 Q1 2025 Q1 2026 2023 2024 2025 Q1 2025 Q1 2026 EBITDA Margin Account Payable Days 14.00 50.
Slide 46: Others
OTHERS Same Store Sales Growth Details YE2023 YE2024 YE2025 Q1 2025 Q4 2025 Q1 2026 Same Store Sales Growth (SSSG) -2.4% 10.2% 5.70% 6.8% 4.6% -0.1% Sales / Ticket (All branches) 483 467 461 473 457 486 Tickets / Day (All branches) 9,143 11,437 13,135 13,277 13,340 13,365 Remark : Remark : Data as o
Slide 47: Agenda
AGENDA 01 Group Structure 02 Business Overview 03 Industry Overview 04 Future Project 05 Financial Highlights 06 Q&A 3
Slide 48: Thank You
THANK YOU contact [email protected] [email protected] www.healthleadgroup.com 02-118-0884, 086-341-4441 3
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