Investor Relations Team

Copyright © VATECH Networks | All Rights Reserved.

This presentation has been prepared by Vatech (hereinafter “the Company), with an aim to promote investors’ understanding
of the Company. This presentation May not be distributed modified, reproduced in whole or in part.

The accuracy of the ‘forward-looking statements’ included in this presentation has not been independently verified.
The forward-looking statements include projections and outlook of the Company concerning its business status and financial
results, and include but not limited to words, such as ‘expectation’. ‘forecast’, ‘plan’, ‘anticipation’ or ‘(E)’. The forward-looking
statements are subject to changes in business environment and involve inherent risks and uncertainties.

Future expectations are based on current business environment and the Company’s management direction as of the date of
presentation. Future projections may differ or change due to changes in business environment or due to strategic changes by
the Company,. The contents in this presentation may change with out any prior notification.

None of the Company nor ant of its respective officers assume legal responsibility for any damages or losses that may have
occurred from the use of this presentation, including errors and other mistakes that may be included in this presentation

This presentation may not ne reproduced in whole or in part, nor may any of its contents be divulged to any third
party, unless prior consent by the Company has been granted.
①
②
▶ ▶
Company name Vatech (KOSDAQ : 043150)

CEO Hyun Jung Hun, Kim Sun Bum

Establishment April 4, 1992

Main business Digital Dental X-ray Imaging System

# of Employees 380

Capital KRW 7,427 mil

* As of 2021.12.31
Listed date September 29, 2006 ▶

46%

Vatech
Dental X-ray Imaging Systems
R&D, Manufacture

100% 29% 32%

Domestic Sales 20 Companies Detector

Buildings view in Dong-tan area, Gyeonggi province R&D, Manufacture, Sales
▶
•for detecting dental caries • for implant surgery & orthodontics
• for orthodontics • for plastic surgery and otolaryngology
Low dose (Green) Value, Short Scan Time
 • for diagnosis of 2~3 teeth • Bends to fit patient’s mouth • Intra Oral Scanner
• utilized with extraoral equipment • Reduce the number of retakes
• Solely used in emerging markets having less purchasing power • Reduce radiation dose

World-first commercialization of Medical CNT Only one soft dental 3D Oral Scanner
* CNT : Carbon Nano Tube sensor in the world
▶ ▶

3610.8
▪

904.1 25.0%
2774.4
▪
655.9 23.6%
2166.6
1104.9 30.6%
492.9 22.7% ▪
32.9%
911.6 ▪

740.9 34.2% 520.1 14.4%

392.9 14.2% ▪
302.1 13.9%
1081.7 30.0%
814 29.3%
630.7 29.1%
▪

2020 2024 2028

Intraoral X-ray System Intraoral Sensors
Extraoral X-ray System CBCT
▶ ▶

Asia
22.6%
Europe
31.7%

Korea
10.0%
North America
23.5%

Middle East
5.1%
Oceania
0.8%

South America
6.3%
①
②
2D(ea) 3D(ea) Korea’s Vatech poised to enter
3D dental X-ray market in China
△14.2% 5,500
34.1%
1,200
4,400 〮 China's EOX Market recently
900 recoded rapid 3D growth
750 3,500
700
650 2,600 〮 2D Market growth stagnation
1,700

’16 ’17 ’18 ’19 ’20 ’16 ’17 ’18 ’19 ’20
(Source : Market Research by Vatech China, September 2018 Den Tech China in Shanghai) (Source : Maeil Business Newspaper, June 14, 2018)

<2D Market>
〮 Success in securing market share No.1 in China
〮 Retention of manufacturing facilities in Shanghai
<3D Market>
〮 Acquire Green Smart Sales Certification (June, 2018),
〮 Acquire 3D Manufacturing Certification
(Green 18, Nov.2020)
〮 Acquire Green 16 Sales Certification(June, 2021) ➔
 (Source : Secondary Research; Expert Interview; Intraoral Scanners Market by P&S Market Research Analysis)

DRIVERS RESTRAINTS Regional Oral-Scanner Penetration Rate

◆ Increasing prevalence of dental problems ◆ Scarcity of skilled professionals and ◆ North America 15%
advanced healthcare infra structure
◆ Growing geriatric population ◆ Europe 10%

◆ Improving accuracy of intra-Oral scanners ◆ High cost of intra-Oral scanners ◆ Asia 5%

(Unit : $M)
500.0

450.0
Align Technology
400.0

350.0
3Shape
300.0

250.0
Dentsply Sirona
200.0

150.0
Medit
100.0

50.0 etc
0.0
2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023

Europe North America APAC RoW Source : industrial materials

• •
• •

Source : Maximize – Global Zirconia Market(2018-2026)

• •

①
②
③
④
⑤
⑥
⑦
 Dental Digital Prosthetic Workflow

3D impression taking in dental clinic Manufacturing artificial teeth in dental lab

Rayence process

[Precursor] [Reaction] Filtration Drying Calcination Milling Spray dry

 •
• •
• •
• •
•

•
 (Units : KRW Million, %, %p)
Q1 ’22 QoQ Q4 ’21 Q1 ’21 YoY

- 9,870 + 10,963
85,959 95,829 74,996
(- 10.3%) (+ 14.6%)

43,113 - 6,668 49,781 39,779 + 3,334

- 3,202 + 7,629
42,846 46,048 35,217
(- 7.0%) (+ 21.7%)

27,651 - 3,668 31,320 22,185 +5,467

+ 466 + 2,162
15,195 14,728 13,032
(+ 3.2%) (+ 16.6%)

+ 4,895 + 1,215
19,079 14,184 17,864
(+ 34.5%) (+ 6.8%)

4,032 - 2,588 6,620 3,123 + 909

+ 7,483 + 306
15,047 7,564 14,741
(+ 98.9%) (+ 2.1%)

+ 6,08 + 1,084
14,303 7,895 13,219
(+ 81.2%) (+ 8.2%)

744 + 1,075 - 331 1,522 - 778

963 + 432 531 890 + 73

49.8% + 1.8%p 48.1% 47.0% + 2.9%p

17.7% + 2.3%p 15.4% 17.4% + 0.3%p
17.5% + 9.6%p 7.9% 19.7% - 2.2%p
 Q1 ’22 Q4 ’21 Q1 ’21
3D 35,389 M KRW 39,114 M KRW (- 12.6%) 29,411 M KRW (+20.3%)
14,373
2D 10,658 M KRW 12,192 M KRW (- 9.5%) 9,978 M KRW (+6.8%)
12,520 15,364

11,739
9,963 •
12,047

8,211

7,829
39,114 •
35,520 35,389
33,368 32,782 •
29,411
•
27,706

5,350 24,218

9,943 •
10,757 11,100 12,192 10,658
9,815 9,978
7,543
4,324 4,949

1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q
•
2020 2021 2022
•
EOX 2D EOX 3D Etc Etc
•
100,000 95,829

90,000 85,959 Q1 ‘22 Q4 ’21 Q1 ‘21

84,966
83,189
79,103
North America 20,208 29,236 (- 30.9%) 17,129 (+ 18.0%)
80,000 74,996 Europe 27,225 28,300 (- 3.8%) 21,389 (+27.3%)
German 6,231 9,200 (- 32.3%) 4,395 (+ 41.8%)
70,000
63,698 Russia 7,186 5,768 (+ 24.6%) 5,048 (+ 42.4%)

60,000 France 5,442 3,301 (+ 64.9%) 4,669 (+ 16.6%)

54,501
Asia(not Korea) 19,404 20,880 (- 7.1%) 20,352 (- 4.7%)
47,009
50,000
China 6,913 7,590 (- 8.9%) 7,909 (- 12.6%)
India 6,074 4,388 (+ 38.4%) 4,709 (+ 29.0%)
40,000
•
30,000

20,000

10,000
•
- •
1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q
2020 2021 2022

Asia Korea Asia Etc North America

Europe South America Middle East •
Africa Oceania Total →
 (Units : M KRW, %) Q1 ’21 Q4 ’21 Q1 ’22
Q1 ’22 Q4 ’21 Q1 ’21

440,040 419,976 370,241 253%

255,536 246,374 210,572
250%
84,294 86,168 80,515

18,445 18,960 13,307 245%

55,754 55,320 48,474
86,528 77,626 58,171
53%
184,504 173,602 159,669
75,846 72,066 66,800
60,561 57,434 53,485
141,404 135,420 127,489
48% 47%
102,197 97,321 85,789
45,304 41,518 41,757
5,402 2,559 4,862
-28%
39,207 38,099 41,699
12,066 12,984 19,877 -29%

298,636 284,556 242,752

286,299 273,223 234,584
271,391 258,574 220,927 -31%
12,337 11,333 8,168