Financial Performance - The unaudited revenue of RMH Holdings Limited for the six months ended June 30, 2022, was approximately S$7,713,000, representing an increase of approximately S$3,090,000 or 66.8% compared to S$4,623,000 for the same period in 2021[9]. - The unaudited loss for the Group was approximately S$4,948,000 for the six months ended June 30, 2022, an increase of approximately S$2,119,000 or 74.9% compared to a loss of S$2,829,000 for the same period in 2021[10]. - The total comprehensive loss for the period was S$5,048,000, compared to S$2,885,000 for the same period in 2021[14]. - The company reported a loss before taxation of S$4,948,000 for the six months ended June 30, 2022, compared to a loss of S$2,791,000 in the same period of 2021[24]. - Total comprehensive loss for the period was S$5,046,000, compared to S$4,947,000 in the previous year[21]. - Loss attributable to the owners of the Company for the six months ended 30 June 2022 was S$4,948,000, compared to S$2,829,000 for the same period in 2021, representing an increase of 74.8%[109]. - Loss per share was 0.44 Singapore cents for the six months ended June 30, 2022, compared to 0.40 Singapore cents for the same period in 2021[11]. Revenue Breakdown - Revenue from healthcare services amounted to S$5,481,000, up 17.6% from S$4,661,000 in 2021[91]. - Trading sales significantly increased to S$1,946,000 from S$157,000, marking a substantial growth[91]. - Revenue recognized at a point in time was S$4,602,000, compared to S$2,179,000, reflecting a 111.0% increase[87]. - Other services, primarily related to laboratory tests, generated S$862,000, an increase of 20.1% from S$718,000[87]. - The Group's healthcare services revenue breakdown includes S$506,000 from Aesthetic Services, S$1,116,000 from Consultation Services, S$1,793,000 from Prescription and Dispensing Services, and S$1,489,000 from Treatment Services[186]. - Revenue from Aesthetic Services was S$506,000 for the six months ended 30 June 2022, attributed to increased capacity following the easing of COVID-19 measures and new dermatologists joining[188]. - Consultation Services revenue increased by approximately S$170,000, from S$946,000 in the six months ended June 30, 2021 to approximately S$1,116,000 in the same period of 2022[188]. - Revenue from Prescription and Dispensing Services rose by approximately S$387,000, from S$1,406,000 for the six months ended June 30, 2021 to approximately S$1,793,000 for the same period in 2022[188]. - Treatment Services revenue increased by approximately S$222,000, from S$1,267,000 in the six months ended June 30, 2021 to approximately S$1,489,000 in the same period of 2022, driven by excision, MOHS light, and cryosurgery[188]. - Other Services revenue increased by approximately S$144,000, from S$718,000 for the six months ended June 30, 2021 to approximately S$862,000 for the same period in 2022[188]. Operational Costs and Expenses - Employee benefits expense amounted to approximately S$4,274,000, reflecting an increase of approximately S$1,585,000 or 58.9% due to additional headcounts[10]. - The company incurred professional and consulting fees of S$2,100,000, an increase from S$1,623,000 in the prior year[102]. - Total consumables and medical supplies used amounted to approximately S$2,597,000 for the six months ended June 30, 2022, up from S$722,000 in 2021, reflecting increased revenue from Prescription and Dispensing Services[191]. - Depreciation and amortization expenses totaled S$1,935,000, reflecting ongoing investments in plant and equipment and intangible assets[24]. - The total compensation for key management personnel during the period was S$1,235,000, up from S$787,000 in the previous year, representing a 57% increase[170]. Assets and Liabilities - As of June 30, 2022, total assets amounted to S$17,619,000, an increase from S$9,634,000 as of December 31, 2021[17]. - Net current assets increased to S$4,257,000 from S$2,777,000, reflecting improved liquidity[17]. - The company’s net assets increased to S$6,713,000 from S$4,567,000, indicating a stronger equity position[17]. - Trade receivables as of 30 June 2022 amounted to S$3,096,000, with a loss allowance of S$995,000, compared to S$2,230,000 and S$779,000 respectively in 2021, indicating an increase in both receivables and allowances[122]. - Total deposits increased to S$6,074,000 as of 30 June 2022, compared to S$1,958,000 in the previous year, reflecting a significant increase of 210%[122]. - The Group's total trade and other receivables amounted to S$12,587,000 as of 30 June 2022, compared to S$5,766,000 in 2021, indicating a substantial increase of 118%[122]. - Trade payables increased significantly to S$8,498,000 as of June 30, 2022, compared to S$3,259,000 as of December 31, 2021[154]. - The total amount of trade receivables that are not past due is S$634,000, while those overdue between 91 to 120 days amount to S$124,000[134]. Cash Flow and Financing - Operating cash flows before working capital changes were negative at S$1,639,000, indicating challenges in cash generation[24]. - Cash used in operating activities was S$3,706,000, up from S$1,996,000 in the previous year, highlighting increased operational cash outflows[24]. - Cash used in investing activities amounted to S$2,406,000, a significant increase from S$783,000 in the previous period[27]. - Cash from financing activities totaled S$5,210,000, up from S$2,861,000 in the previous period[27]. - The cash and cash equivalents at the end of the period were S$1,030,000, a decrease from S$4,871,000 at the end of the previous period[27]. - The company reported a repayment of borrowings totaling S$726,000, compared to S$181,000 in the prior period[27]. - The company has a loan of S$3 million with a repayment period of 60 months, which commenced on June 22, 2020, secured by a corporate guarantee[162]. - The total borrowings as of June 30, 2022, amounted to S$6,112,000, slightly up from S$6,067,000 as of December 31, 2021, indicating a marginal increase of 0.74%[158]. Credit Risk and Impairment - The Group recognizes expected credit losses (ECL) on financial assets subject to impairment under IFRS 9, including trade and other receivables, finance lease receivables, and cash equivalents[39]. - The Group always recognizes lifetime ECL for trade receivables and lease receivables, estimating losses using a provision matrix based on historical credit loss experience[39]. - The expected credit loss rate for trade receivables is less than 1%, indicating a low risk of default among customers[135]. - The ageing analysis of trade receivables shows that S$1,284,000 is overdue by more than 90 days, contributing to a total of S$2,101,000 in trade receivables[137]. - Credit-impaired financial assets are identified when events negatively impact the estimated future cash flows, such as significant financial difficulty of the borrower or breach of contract[53]. Strategic Developments - The Group has established a Mohs Micrographic Surgery Centre and a Mole Mapping Centre at Orchard Clinic, employing 3 Mohs Dermato-Surgeons, and opened a new dermatology clinic at Gleneagles Medical Centre in Singapore[183]. - The Group anticipates continued revenue improvement from clinics in Singapore and Hong Kong due to easing government anti-COVID-19 measures and mass vaccination rollouts[183]. - The Group has decided to suspend business development for its wholly-owned subsidiary, RMH Imaging Limited, due to significant market changes and differing future prospects[183]. - The management believes that the significant impairment in the investment portfolio will not have a continuous impact on the principal businesses and long-term operations of the Group[176]. - The Group is cautiously optimistic about rebounding strongly to profitability in 2022 due to a reasonably healthy cash reserve and intact business operations[182].
德斯控股(08437) - 2022 - 中期财报