Principal Capital Public Company Limited

Principal Capital Public Company Limited, or PRINC, has announced a strategic partnership with Siemens Healthineers to elevate the diagnosis and treatment of advanced cancer, with a combined investment budget of approximately 300 million baht, expanding to two hospitals in its network in the lower northern and lower northeastern regions. The partnership builds on PRINC's network of 19 private hospitals across 15 provinces under its Hub & Spoke business model. The first radiotherapy unit, at Prince Sisaket Hospital, is already in service, while the cancer and radiotherapy centre at Phitsanuvej Hospital in Phitsanulok province is scheduled to open in early 2027. As for business trends in the third quarter of 2026, the company expects continued improvement from the same period a year earlier, driven by the return to a normal high season, which will clearly support growth in patient volumes. PRINC also maintains its revenue forecast for 2026 of growth of no less than 10% from 2025, after first-half revenue of roughly 3.6 billion baht, and it will recognise full-year revenue from Thanakarn Hospital in Kanchanaburi province, as well as Por Pathet 1 and Por Pathet 2 hospitals in Nakhon Ratchasima province.

Principal Capital Public Company Limited, or PRINC, expects 2026 revenue to grow from the previous year's level of about 6.3 billion baht, after booking about 3.6 billion baht in the first half of this year. The growth follows a full year of revenue recognition from Thanakan Hospital and new hospitals under the Doctor 1 and Doctor 2 networks in Nakhon Ratchasima province. Chief Financial Officer Tharin Iampetchrapong said the third quarter of 2026 should improve clearly from the second quarter of 2026, as the hospital business enters its high season during the rainy period and the user base expands after continued new hospital openings. PRINC Group currently operates 19 hospitals in 15 provinces and plans to open a new building at Phitsanuvej Phichit Hospital this October, as well as a full-scale cancer treatment center in January 2027 to upgrade complex disease services and expand the international patient base, which is expected to support overall margins.

Principal Capital Public Company Limited, or PRINC Group, expects revenue this year to grow more than 10% after second-half performance is likely to be better than the first half, as the company enters the high season and books a full year of revenue from Thanakan Hospital. In the second quarter of 2026, the company posted medical service revenue of 1.56 billion baht, up 11.03% from the same period last year, and operating EBITDA of 106.7 million baht, up 93.39% from the same period last year. Growth was supported by continued network expansion, including the acquisition of Thanakan Hospital, Por Paet Hospital 1, and Por Paet Hospital 2, as well as the opening of Phitsanuvej Kamphaeng Phet Hospital in June, bringing the total to 19 operating hospitals across 15 provinces. The company plans to open a new building at Phitsanuvej Phichit Hospital this October and a full-scale cancer centre with radiation therapy services at Phitsanuvej Hospital in January 2027. However, geopolitical risks that could affect oil prices, inflation, and consumer purchasing power still need to be monitored, but the company believes momentum this year is positive and next year should grow at a similar pace to this year if no severe situation emerges to pressure performance.