Investor Relations Team

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Company name Vatech (KOSDAQ : 043150) <KRX300>

CEO Hyun, Jung Hun

Establishment April 4, 1992

Main business Digital Dental X-ray Imaging System

# of Employees 380

Capital KRW 7,427 mil * As of 2021.3Q

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
* Launched May 2019

Detail Information
Page 15
▶ ▶

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
25.9%
Europe
28.6%

Korea
11.6%
North America
24.1%

Middle East
3.9%
Oceania
1.0%

South America
4.6%
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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)

• •

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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

 •
• •
• •
• •
•

•
※
※
 Q3 ’21 Q3 ’20 Q3 ’19
3D 24,218 M KRW 25,436 M KRW
21%
35,520 M KRW
19% 23% 25% 20% 19% 27% 21% 19% 23% 21% (+46.7%) (+39.6%)
2D 4,949 M KRW
11,100 M KRW 7,763 M KRW (+43.0%)
(+124.3%)

•
•
→

63% 61% 57% 65% 64% 51% 65% 63% 57% 59% 60%

•
•

18% 16% 18% 15% 17% 22% 13% 18% 19% 19% 19%

1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q
2019 2020 2021 •

EOX 2D EOX 3D Etc Etc •

•
90,000 84,966
83,189
79,103
80,000 76,376 Q3 ’21 Q2 ’21 Q3 ’20 Q3 ’19
74,996
72,593
Europe 20.6 24.3 (-15.2%) 15.0(+37.7%) 16.1(+28.4%)
64,959
70,000 German 5.0 7.0 (-28.5%) 3.3 (+50.9%) 4.8 (+4.4%)
63,698
57,746
Russia 5.9 5.5 (+6.4%) 2.4(+129.9%) 3.0 (+96.5%)
60,000
54,501 North America 20.4 21.4 (-4.9%) 15.0(+35.9%) 14.5(+41.0%)
47,009 Asia (not Korea) 25.4 21.1(+20.4%) 19.3(+31.6%) 18.2(+39.6%)
50,000
China 12.4 11.2(+10.4%) 11.3(+9.8%) 9.5(+30.5%)
India 5.7 2.3(+147.0%) 1.5(+271.2%) 2.8(+101.7%)
40,000

30,000

20,000

•
10,000
•

-
1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q
2019 2020 2021
•
Asia Korea Asia Etc North America
→
Europe South America Africa
Middle East Oceania Total
 (Units : M KRW, %)
Q3 ’21 Q2 ’21 Q3 ‘20

410,832 389,928 376,796 265%

262%
242,765 227,356 180,667
82,396 83,376 61,850

18,676 11,675 13,304 246%

53,634 56,422 44,615
76,711 67,101 53,538
168,067 162,572 196,129
52%
67,011 66,453 66,299 48%
56,411 55,498 97,599 43%
133,202 133,049 113,330
92,628 92,293 68,183
42,908 47,507 29,818
-18%
3,862 4,525 5,946
40,574 40,756 45,147
15,313 18,396 21,732
277,630 256,879 263,466
265,957 247,520 258,263
-28%
251,049 233,702 243,900 -29%

11,673 9,359 5,204