Optimax Laser Sharp On Growth
Optimax Laser Sharp On Growth
The introduction of the PRESBYOND machine was a significant development for Optimax, capturing a new patient demographic aged 40 and above. The machine offered laser refractive treatment for presbyopia, or long-sightedness, and was the first of its kind in Malaysia. Management highlighted the growing traction of this treatment, which complemented existing Lasik procedures targeting those below 40. With 11.35 million people, or 34.0% of Malaysia's population, aged 40 and above in 2023, CGS viewed this innovation as a key growth driver for Optimax.Optimax Holdings is poised for significant growth with the introduction of Malaysia's first presbyopia refractive surgery machine and the opening of new ambulatory care centres (ACCs) in Selangor, Cambodia, and Kota Kinabalu, according to CGS International Stock Broking House (CGS). The company's revenue was expected to achieve a three-year compound annual growth rate (CAGR) of 14.5% for Fiscal Year 2023 to Forecast 2026 (FY23-FY26F), driven by the higher number of surgeries and strategic expansion plans.
根據CGS國際股票經紀公司（CGS）的數據，隨着馬來西亞第一臺老花眼屈光手術機的推出以及在柬埔寨雪蘭莪州和亞庇開設新的門診護理中心（ACC），Optimax Holdings有望實現顯著增長。受手術數量增加和戰略擴張計劃的推動，該公司的收入預計將在2023財年至2026年（FY23-FY26F）實現14.5％的三年複合年增長率（CAGR）。
CGS maintained an Add rating on Optimax Holdings, reiterating a target price (TP) of RM0.87. The valuation remained undemanding at -1.0 standard deviation (s.d.) from its mean Price per Earnings (P/E) of 25.4x, reflecting the company's robust healthcare exposure and promising growth prospects. CGS projected a strong rebound in earnings, expecting a 24.2% increase in FY24F and a 22.0% rise in FY25F.
CGS維持對Optimax Holdings的增值評級，重申目標價格（TP）爲0.87令吉。與平均每股收益價格（P/E）的25.4倍相比，估值仍不高，爲-1.0標準差（s.d.），這反映了該公司強勁的醫療保健敞口和光明的增長前景。CGS預計收益將強勁反彈，預計 FY24F 將增長24.2％，FY25F 增長22.0％。
Following a visit to Optimax's new eye specialist ambulatory care centre (ACC) and Neumax clinic in Atria Mall, Selangor, CGS reported updates from Group CEO Sandy Tan and Group CFO Pang Woei Yaw. The new ACCs in Selangor, Cambodia, and Kota Kinabalu were anticipated to drive revenue and core net profit growth, with expectations of achieving a new high of RM16 million in FY24F. The company's expansion plans included further ACCs in Selgate Setia Alam and Kempas in FY25-FY26F, contributing to a forecasted three-year CAGR of 20.0% in core net profit for FY23-FY26F.
在訪問了位於雪蘭莪州阿特里亞購物中心的Optimax新眼科專科門診中心（ACC）和Neumax診所後，CGS報告了集團首席執行官陳珊迪和集團首席財務官彭偉耀的最新消息。雪蘭莪州、柬埔寨和亞庇的新ACC預計將推動收入和核心淨利潤增長，預計在 FY24F 中將創下1600萬令吉的新高。該公司的擴張計劃包括在 FY25-FY26F 中增加塞爾蓋特塞蒂亞阿拉姆和肯帕斯的 ACC，這使 FY23-FY26F 的核心淨利潤預計的三年複合年複合年增長率爲20.0％。
The introduction of the PRESBYOND machine was a significant development for Optimax, capturing a new patient demographic aged 40 and above. The machine offered laser refractive treatment for presbyopia, or long-sightedness, and was the first of its kind in Malaysia. Management highlighted the growing traction of this treatment, which complemented existing Lasik procedures targeting those below 40. With 11.35 million people, or 34.0% of Malaysia's population, aged 40 and above in 2023, CGS viewed this innovation as a key growth driver for Optimax.
PRESBYOND機器的推出是Optimax的一項重大進展，它捕捉了40歲及以上的新患者群體。該機器爲老花眼或遠視提供激光屈光治療，是馬來西亞首臺此類設備。管理層強調，這種治療的吸引力越來越大，它補充了針對40歲以下人群的現有Lasik手術。2023年有1135萬人，佔馬來西亞人口的34.0％，年齡在40歲及以上，CGS將這項創新視爲Optimax的關鍵增長動力。
CGS projected a robust earnings rebound in FY24F and FY25F, driven by revenue growth from the opening of new ACCs and margin recovery as these investments matured. Despite a 11% year-to-date (YTD) rebound, Optimax's stock traded at 1.0 s.d. below its three-year mean P/E since its listing in FY20. CGS highlighted stronger-than-expected earnings delivery in FY24-FY25F as a potential re-rating catalyst.
CGS預計，FY24F 和 FY25F 的收益將強勁反彈，這得益於新ACC開業帶來的收入增長以及這些投資到期後的利潤回升。儘管年初至今（YTD）反彈了11％，但Optimax的股票交易價格仍比2020財年上市以來的三年平均市盈率低1.0美元。CGS強調，FY24-FY25F 的收益交付強於預期，這是潛在的重新評級催化劑。