CENTRAL PLAZA HOTEL PCL. 5 July, 2016
Company Background Hotel Business Food Business Financial Highlight & Outlook 2
COMPANY BACKGROUND 3
CENTRAL GROUP & CENTEL OVERVIEWS Central Group Business Unit Equity market information Symbol: CENTEL Sector: Tourism Div Policy: 60% Tos Chirathivat Group CEO CENTEL Price: Bt38.75 (as of 12/05/16) Market Cap: Bt52,313mn CENTEL’S Shareholders @Mar 31, 16 “Chirathivat” family 65% Yuwadee Pascal Suthisarn Worawoot Preecha Edwin Yap Thirayuth Thiradej Phillippe Chirathivat Billaud Chirathivat Ounjai Ekkunagul Chirathivat Hawson Chirathivat Broianigo Local investors CEO CEO CEO CEO CEO CEO CEO CEO CEO 20% Foreign investors 15% 4 Vietnam
MILESTONES Capital increase of Baht 450 Corporate CENTEL’s MILESTONE Listed in Capital million The Stock increase Exchange of Baht Par splited of Thailand 500 from Baht 5 (SET) million to Baht 1 Terminated Terminated Beard Papa’s Café Acquired Andonand “Ootoya” Food business Terminated home Pizza Hut and Bought 5 cooking introduced Authorized Franchisee Baskin Robbins new brands style Introduced Introduced Introduced “Mister franchisee of Auntie and introduced into Japanese Pepper “Tenya” into “katsuya” into Donut” of KFC Anne’s Beard Papa’s portfolios restaurant Lunch portfolio portfolio 1978 1983 1984 1990 1991 1998 2006 2007 2008 2009 2010 2011 2012 2013 2014 1 st hotel, Centara Opening Step up Centara Step up Rebranding Centara Grand Mirage “Centara hotel brand Grand at Centara acquisition of Maldives acquisition of Hotel business Beach Resort, Centara Grand at from Central Grand • Centara (24-Mar) Pattaya Kata Central “Central” to World Phuket Karon, (Feb) (7-Oct) Ladprao “Centara” Opening the • Centara Bangkok” Launched 1 st oversea Property Maldives JVs in Fund (Mar) Maldives (Centara • Centara “Centara Grand Grand Grand Resort Maldives Samui) & Spa, (Dec) Maldives” 5
BUSINESS CONTRIBUTION 2015 Total Revenue and Profit by Segment Total Revenue by Geography Hotel Food Overseas 9% 30% 31% 53% 70% 69% Thailand 47% 91% Total EBITDA NPAT Revenue* * Excluded equity gain (loss) from property fund, amortization of deferred rental income 6
HOTEL BUSINESS 7
BRANDS & KEY STRATEGY Key Brands 2 Key Strategies Traditional Independent Extended Brands F ocusing on expansion of portfolios through hotel � Lodging Travelers Stay management business Grand Design Asset Light Exclusively Strategy Yours Asset Right Strategy Designed & Focused Value Proposition I nvesting in property (100% equity or JVs) � using internal cash flow and leverage, Economy subject to internal guideline Brand 8
HOTEL PORTFOLIOS AS AT 1 JULY 16 Hotels in Owned Property Managed % (by Total Total Portfolios: 57 hotels with 12,324 rooms operation hotels Fund hotels rooms) 3,358 202 3,223 6,783 Thailand 92% (12) (1) (19) (32) CHN Middle East 1 hotel CHN 252 373 625 Overseas - 8% 4 hotels 3 hotels (2) (3) (5) VNM Total Rooms THA 3,610 202 3,596 7,408 100% 3 hotels CUBA 40 hotels (Hotels) (14) (1) (22) (37) 1 hotel LAOS Hotels in Owned Property Managed % (by Srilanka Total 1 hotel IND pipeline hotels Fund Hotels rooms) 1 hotel Maldive 2 hotels INDO s Maldives 451* 1,120 1,571 2 hotels 5 hotels Thailand 2 hotels - 32% (2) (6) (8) 3,345 3,345 Overseas - - 68% (12) (12) 20 Hotels in pipeline by target opening year*** Total Rooms 451 4,465 4,916 - 100% (Hotels) Overseas Thailand # of hotels (2) (18) (20) 4,500 20 10 Total Owned Property Managed % (by 4 4 Total 2 3,500 10 portfolios hotels Fund hotels rooms) 0 2,500 3,809 202 4,343 8,354 Thailand 68% -10 (14) (1) (25) (40) 2,495 1,500 46 -20 252 3,718 3,970 514 290 500 Overseas - 32% 730 254 437 (2) (17) -30 (15) 150 -500 2016F 2017F 2018F 2019F -40 Total Rooms 4,061 202 8,061 12,324 Remark: Overseas include Indonesia, Laos, Maldives, Sri 100% 9 9 (Hotels) (16) (1) (40) (57) Lanka, Doha, Oman, Cuba and China *2 COSI hotels, *** incl. contracts on hand only
FEEDER MARKET FY15 and 1Q16 CENTARA’s Guests by room nights FY14 FY15 1Q15 1Q16 36% 37% 39% 36% 31% 40% 27% 34% 15% 17% 9% 12% 10% 5% 12% 3% 3% 3% 3% 3% 2% 3% 2% 4% 6% 3% 2% 3% Asia AUS EU Middle THA USA Others Asia AUS EU Middle THA USA Others East East 10
HOTEL PERFORMANCE SNAPSHOT OCC (%) 2014A 2015A Chg 1Q15 1Q16 Chg Number of rooms Total Revenue** (Btm) Bangkok 61.6% 81.3% 19.7% 85.0% 85.0% - Managed Hotels Total Revenue Owned + JVs Hotels +9% Upcountry 78.9% 79.6% 0.7% 84.9% 88.0% 3.1% 9,046 Maldives 90.6% 86.2% -4.4% 89.8% 85.3% -4.5% 8,316 Average 74.8% 80.5% 5.7% 85.3% 87.0% 1.7% +3% 4,773 3,908 3,993 3,938 2,803 2,719 ARR (Bt) 2014A 2015A % Chg 1Q15 1Q16 % Chg 3,812 3,812 3,812 3,812 Bangkok 3,112 3,248 4.4% 3,148 3,411 8.3% FY14 FY15 1Q15 1Q16 FY14 FY15 1Q15 1Q16 Upcountry 3,987 4,017 0.7% 5,199 5,056 -2.8% Maldives 17,455 19,133 9.6% 21,931 24,587 12.1% EBITDA (Btm) EBITDA Margin Average 4,855 4,809 -1.0% 5,782 5,870 1.5% +12% RevPar (Bt) 2014A 2015A % Chg 1Q15 1Q16 % Chg 43.7% 41.7% 2,951 Bangkok 1,917 2,642 37.8% 2,677 2,898 8.2% 32.6% 31.7% 2,636 1,187 -2% Upcountry 3,146 3,197 1.6% 4,416 4,448 0.7% Maldives 15,814 16,495 4.3% 19,687 20,982 6.6% 1,168 Average 3,632 3,872 6.6% 4,932 5,104 3.5% FY14 FY15 1Q15 1Q16 FY14 FY15 1Q15 1Q16 11 Noted: **Excluded extra items and deferred rental income from PFPO Noted: Performance of owned hotels
CENTARA vs. MARKET PERFORMANCE Tourist Arrivals CENTEL - OCC (Thailand) Industry - OCC 87% 85% 80% 60.0 74% 100% 50.0 70% 68% 50% 62% 56% 40.0 0% +20% 30.0 -50% 20.0 -100% 29.9 +15% 24.8 10.0 -150% 9.0 7.8 0.0 -200% FY14 FY15 1Q15 1Q16 Source: BOT 12 * Source: National Economics and Social Development Board - NESDB
REVENUE CONTRIBUTION BY LOCATION FY14 FY15 1Q15 1Q16 Revenue Revenue 26% 30% 21% 26% 17% 26% 19% 19% 18% 12% 16% 21% 13% 8% 13% 7% 7% 16% 7% 14% 7% 6% 8% 2% 2% 7% 7% 8% 7% 6% 3% 2% Bangkok Maldives Phuket Pattaya Hua Hin Samui Krabi Others Bangkok Maldives Phuket Pattaya Hua Hin Samui Krabi Others Bangkok Maldives Phuket Pattaya Hua Hin Samui Krabi Hat Yai Tak Total # Rooms 1,077 252 827 555 249 302 192 245 113 3,812 % of Total 28.3% 6.6% 21.7% 14.6% 6.5% 7.9% 5.0% 6.4% 3.0% 100% Rooms %RevPar Growth 37.8% 4.3% -2.2% -0.9% 5.4% 5.2% 6.3% 9.6% -0.2% 6.6% (FY15) – Y-o-Y %RevPar Growth 8.2% 6.6% -3.7% -3.6% 3.4% 6.0% 11.6% 5.4% 21.3% 3.5% (1Q16) – Y-o-Y 13
FOOD BUSINESS 14
BRANDS AND KEY STRATEGY 10 Brands 1 Brand Establishment Key Strategy (Franchise Agreements) (In House) Joint venture with � 1978 partner Joint 1984 Venture 1988 Acquisition 2007 2010 Owned-Outlet Expansion Acquisition � 2011 � Existing brands expansion 2013 across Thailand All expansion plans are expected to be supported by 2014 internal cash flows and debt. 15
PORTFOLIOS AS AT 31 MARCH, 2016 Bangkok Contribution Brands # Outlets 7% in 12% in KFC 207 the North Northeast By Location By Revenue Mister Donut 319 Auntie Anne’s 129 60% Ootoya 47 35% in Central 37% 3% in Pepper Lunch 17 the West Cold Stone 17 10% in The Terrace 15 the East Chabuton 17 Outlets and Revenue Contribution: Yoshinoya 18 37% of total outlets and 35% of Tenya 4 total food revenue are from 8% in Bangkok Katsuya 10 the South Total 800 16
FOOD PERFORMANCE SNAPSHOT Number of Outlets SSS TSS 9.3% +3% +1% 5.6% 3.2% 800 2.0% 1.4% 0.6% 792 781 777 -0.1% -0.7% FY14 FY15 1Q15 1Q16 FY14 FY15 1Q15 1Q16 Total Revenue (Btmn) EBITDA (Btmn) EBITDA Margin +2% 12.4% 12.2% 2,000 14% 9,967 10,170 11.6% 12% +34% 9.4% 10% +3% 8% 1,258 1,000 6% -2% 937 2,503 2,426 4% 297 291 2% 0 0% FY14 FY15 1Q15 1Q16 FY14 FY15 1Q15 1Q16 17
REVENUE CONTRIBUTION BY BRANDS FY14 FY15 1Q15 1Q16 55% 55% 55% 54% 19% 18% 10% 8% 8% 9% 8% 7% 19% 18% 2% 2% 9% 7% 8% 3% 9% 7% 9% 2% KFC MD OOTOYA AA Other Other KFC MD OOTOYA AA Other Other Heavy Light Heavy Light Food Food Food Food FY15 KFC Mister Donut Auntie Anne’s Ootoya Other heavy food* Other light food** Total #Outlets (FY15) 207 318 129 47 75 16 792 Y-o-Y growth (#outlet) 2.0% -1.9% 3.2% - 10% 14% 1% #Outlets (1Q16) 207 319 129 47 81 17 800 Y-o-Y growth (#outlet) 2.5% -1.2% 2.4% 2.2% 20.9% 30.8% 3.0% 18 *Other heavy food include Pepper Lunch, Chabuton, The Terrace, Yoshinoya, Tenya, Katsuya and Ryu (terminated 1Q16) **Other light food include Cold Stone.
Financial Highlight and Outlook 19
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