Alpha IVF Group Berhad in its first financial announcement prior to listing, posted a net profit attributable to shareholders (PATMI) of RM25.3 million on group revenue of RM80.1 million for the six months ended 30 November 2023 (1H24).
the Group is not yet a publicly-listed entity, there are no comparative figures for the same period in previous year.
In the previous financial year ended 31 May 2023 (FYE 2023), the Group recorded RM137.5 million revenue and RM53.2 million PATMI. The PATMI in FYE 2023 included a fair value gain of RM11.3 million, without which the Group’s core PATMI would have been RM41.9 million.
On annualized basis, the better performance in 1H24 compared to that of FYE 2023 was attributable to a rise in demand for In-vitro Fertilisation (IVF) treatments, which was driven not just by medical tourism as borders reopened, mainly from Indonesian and Chinese patients, but also by increasing domestic demand.
The group is scheduled to be listed on the ACE Market of Bursa Malaysia Securities Berhad (Bursa Malaysia) on 22 March 2024, at an issue price of 0.32 sen per share. Alpha IVF Group’s market capitalisation would be RM1.6 billion, making it the largest ACE Market initial public offering on Bursa Malaysia.
From the total proceeds raised of RM116.6 million, RM72.8 million will be utilised to develop new IVF centres, satellite clinics, and sales representative offices as part of their domestic and global expansion strategy. A further RM15.7 million will be allocated for expansion and upgrade of existing specialist centres, facilities, and corporate office; RM2.2 million for research and development (R&D), as well as the remaining RM25.9 million for general working capital, general corporate purposes, and defraying of listing expenses.
Alpha IVF Group says it is committed dividend policy and aims to distribute at least 60% of the annual audited profit after tax attributable to shareholders to reward the shareholders.
