Dental Corporation Public Company Limited

Dental Corporation Public Company Limited, or D, is maintaining its target for total revenue growth in 2026 at around 10%. Chief Executive Officer Pornsak Tantapakul said foreign customers account for the main share, roughly 60-70% of total revenue, and their purchasing power remains strong with growth of nearly 10%. Thai customers account for about 30% of total revenue and have contracted by around 3-4% amid the economic slowdown. Growth in foreign customers has helped offset the slowdown in the domestic market. For the fourth quarter of 2026, the company expects operating results to continue growing on the back of foreign customers' purchasing power, and it will begin considering opening new branches again, focusing on locations that target foreign customers. Initially, it plans to open an average of about one branch per quarter. The company is continuing to pursue growth after meeting all the qualifications to move from the Market for Alternative Investment, or mai, to trade on the Stock Exchange of Thailand, or SET, which will help raise its profile, build confidence, and open up more opportunities to reach institutional investors. After listing on the SET, several securities firms have begun preparing analyst reports assessing its growth prospects over the next one to two years. Meanwhile, the major shareholder group, which holds about 50% of the shares, has no plans to sell its shares and does not intend to raise capital at this time. The company has a strong cash flow position and a policy of paying dividends every six months, representing a dividend yield of about 5-6% per year.

Dental Corporation Public Company Limited, known as D, disclosed that its dental services market for foreign clients continues to expand by about 10%, with Chinese clients who reside and do business in Thailand moving up to become the number one client group, overtaking European clients. Dr. Pornsak Tantapakul, Chief Executive Officer, stated that these Chinese clients are not tourists from China but businesspeople and residents in Thailand, and the company is preparing Chinese interpreters and in-branch service systems to accommodate them. Meanwhile, the domestic market has slowed by about 4% amid weak economic conditions, but overall operating results remain positive, with the company maintaining growth of about 11% and keeping its operating growth target for this year at approximately 10-15%. As for expansion plans, the company is looking for locations to open about two additional branches, initially targeting one branch in Bangkok and one in Pattaya, but no conclusion on locations has been reached, as it prioritizes cost and the potential of each area.

Dental Corporation reported first-half 2026 results with total revenue of 554 million baht, up 9%, and net profit of 39.5 million baht, up 11% from the same period last year. The dental business remained strong thanks to continued medical tourism from foreign patients. For the second quarter of 2026, total revenue was 265.5 million baht, close to the prior year, but net profit fell to 17.1 million baht because trading revenue declined after government auctions were postponed. Dental business revenue rose 23%, with revenue from foreign customers at 131.1 million baht, up 35%, and Bangkok International Dental Hospital posted revenue of 43.8 million baht, up 21%, with foreign customers accounting for as much as 81% of its patients. The board approved an interim dividend of 0.073 baht per share, totaling 24.98 million baht, to be paid within September 2026.

Dental Corporation Public Company Limited, or D, has adjusted its investment plan for the second half of 2026. Instead of opening three new clinics, it will upgrade all 15 existing clinics and invest in full-scale digital dental technology. This move aims to support the recovery of medical tourism and its foreign patient base, which currently accounts for around 60% of revenue. The company expects that service enhancements, such as reducing crown procedures from two weeks to 48 hours, will help achieve its 2026 revenue growth target of 15% from the previous year's revenue of 1.05636 billion baht. Additionally, D is in the process of transferring its securities from the Market for Alternative Investment to the Stock Exchange of Thailand, with completion expected by the third quarter of 2026, to enhance credibility and attract institutional investors.