"MEDEZE Group" Reports 240.47 Million Baht Net Profit for the First 9 Months of 2024, Up 30.37% YOY, Expands Partnerships with Medical Professionals and Healthcare Facilities to Boost Revenue, Quantum Machine Helps Reduce Costs, Approves Dividend Payment of 0.08 Baht per Share, Record Date Set for November 27, 2024

Dr. Veerapol Khemarangsan, CEO of MEDEZE Group Public Company Limited (MEDEZE), revealed that for the nine-month period ending September 30, 2024, the company reported sales and service income of 630.29 million baht, an increase of 114.51 million baht, or 22.20%, compared to 515.78 million baht during the same period last year. The company also posted a net profit of 240.47 million baht, up by 56.02 million baht, or 30.37%, from 184.45 million baht in the previous year.

The company will pay a dividend of 0.08 baht per share, with the record date for shareholders eligible to receive the dividend set for November 27, 2024, and the payment date scheduled for December 11, 2024.

The increase in revenue and net profit is attributed to higher income from stem cell storage services, including those derived from umbilical cord blood, cord tissue, and fat tissue, as well as income from immune cell potential testing. This was driven by an expanded sales team, which enabled the company to reach more customers seeking stem cell storage services. Additionally, MEDEZE has increased its network of medical professionals and healthcare facilities, allowing for wider customer reach. The growth in the number of service agents, both dealers and agents, in Bangkok, the surrounding areas, and other provinces also contributed to the increase in revenue.

The increase in net profit was primarily due to the company's ability to reduce cell culture costs by using the Quantum automatic stem cell expansion machine, purchased in 2024. This machine enables the expansion of large quantities of cells in a shorter time while maintaining the quality of the stem cells to meet required standards. This process replaced manual cell culture by medical staff, and some costs have become fixed costs that do not vary with the increase in revenue.