Medtecs International to sustain high profit margin: DBS

This is despite the expected drop in demand for PPEs.

Medtecs International Corporation will continue to have soaring profits despite vaccine rollouts bringing down the demand for personal protective equipment (PPE) and average sale prices (ASP) decline, according to DBS Group Research.

DBS Group Research said they expect Medtecs International’s ASP sales volume to remain at 90% and 60% above pre-pandemic levels which will be boosted by a higher proportion of sales of self-branded products and new customer relationships formed during the pandemic.

Medtecs International is expected to earn 27.8x that of its earnings in 2019 for FY 2022.

“We estimate that Medtecs could generate a cash pile of well over US$100m by end-FY21F which could fuel the group’s M&A efforts or catalyse the reinstatement of a regular dividend policy,” DBS Group Research said.

In a recent company report, Medtecs International saw an increase of 480.4% to 532.6m (US$400.3m) for the year-ended 31 December 2020. Gross profits were recorded to reach $228.3m (US$171.6m) for FY 2020, 1,529.7% change from the previous year’s $13.9m (US$10.5m) whilst net profit also saw an increase to $175.2m (US$131.7m) compared to $1.59m (US$1.2m) in 2019.

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