Central Plaza Hotel Public Company Limited Opportunity Day Presentation: Q217 28 August, 2017
Disclaimer This presentation contains certain forward looking statements. Such forward looking statements are not guarantees of future performance and involve risks and uncertainties, and actual results may differ from those in the forward looking statements as a result of various factors and circumstances. The views, analyses and opinions expressed herein contain some information derived from publicly available sources and third party information providers. No representation or warranty is made as to the accuracy, completeness, or reliability of such information. This presentation should not be relied upon as any recommendation, view, opinion, representation or forecast of “Central Plaza Hotel Plc. ” Nothing in this presentation should be construed as either an offer to sell, a solicitation of an offer to buy or sell shares or any type of securities in any jurisdiction. This presentation is not intended to be any type of investment advice and must not be relied upon as such. You must always seek the relevant professional advice before otherwise making any such financial, legal or commercial decisions. 2
Content • Financial Summary 1 • Business Performance 2 • Business Outlook 3 • Appendix 4 3
Consolidated Earning Q217 and 1H17 Contribution by Business THB million Q216 Q217 % Chg 1H16 1H17 % Chg. Hotel Food Total Revenue Total Hotel revenue* 1,986.0 2,001.5 0.8% 4,788.6 4,699.7 -1.9% Total Food Revenue 2,857.4 2,772.8 -3.0% 5,360.7 5,359.6 - 53% 53% 59% 58% 47% 47% Total Revenues 4,843.4 4,774.2 -1.4% 10,149.3 10,059.3 -0.9% 41% 42% Q216 Q217 1H16 1H17 EBITDA before Extra Item 877.6 863.4 -1.6% 2,336.3 2,293.7 -1.8% EBITDA Before Extra Item EBITDA (%) 18.1% 18.1% NA 23.0% 22.8% NA 30% 30% 44% 46% 70% 70% Net Profit before Extra Item 322.4 398.4 23.6% 1,080.1 1,145.4 6.1% 56% 54% Special Income Contribution from Rental 31.6 - NA 31.6 - NA Q216 Q217 1H16 1H17 Adjustment- Property fund Net Profit After Tax Before Extra Item Revenue from Insurance claim related to flood at - - - - 35.9 NA Centara Grand Beach, Phuket in Oct-Nov2016 29% 30% 58% 64% Reported Net Profit 354.0 398.4 12.5% 1,111.7 1,181.3 6.3% 71% 70% 42% 36% EPS (Baht/ share) 0.26 0.30 15.4% 0.82 0.88 -6.8% Note: Total revenue excluded deferred rental income from property fund Q216 Q217 1H16 1H17 4 4 Note: Total revenue excluded deferred rental income from property fund
Financial Position as at 30 June, 2017 Balance Sheet Summary Summary of Debt Profile Interest bearing debt (“IBD”) was Bt7,135mn with an average cost of debt of 3.1%. Unit: Btmn 31-Dec-16 30-Jun-17 23,800 Fixed rate 24,397 57% 11,283 12,516 13,280 11,117 Key financial ratios 31-Dec-16 31-Jun-17 Net Debt*/Equity 0.89 0.85 Net Debt*/EBITDA** 2.29 2.26 IBD/Equity 0.70 0.63 Total Asset Total Liability Total Equity *excl. amortized deferred income from property fund **annualized and excluding extra items 5
Hotel Business 6
Tourist Arrivals Trend Number of Tourist Arrivals Tourist Arrivals (Million Persons) Growth yoy 13.1% 14.00% 9.2 10 8.2 8.1 7.8 9.00% 7.6% 5 4.00% 1.7% 0 -1.00% -0.9% Q316 Q416 Q117 Q217 Million Persons Q316 Q416 Q117 Q217 Chinese 2.4 1.4 2.4 2.3 % growth yoy 14.5% -20.7% -7.2% 0.1% Russian 0.2 0.4 0.5 0.2 % growth yoy 35.8% 26.5% 36.5% 19.2% 7
Guest Nationality: Market vs Centara Centara Thailand ’s Guest Mixes by Major Nationality Industry: Arrivals by nationality Region 1H16 1H17 1H16 1H17 % Growth yoy East Asia 64.1% 61.9% Europe 23.2% 24.2% 50.00% 40% Americas 4.4% 4.9% 39% 36% 40.00% South Asia 3.7% 4.3% 34% Oceania 2.3% 2.2% 30.00% Middle East 1.9% 2.1% 20.00% Africa 0.4% 0.4% 12% 12% 4% 5% Total 100% 100% 5% 10.00% 3% 3% 3% 2% 2% 0.00% 2.4% 0.02% -0.01% Industry: Chinese & Russian Arrivals Trend -4.2% -5.7% -10.00% No. of tourists -13.8% 1H16 1H17 %Chg -15.2% -20.00% (million persons) ASIA AUS EU MIDDLE THA USA OTHERS EAST Chinese 2.6 2.4 -7.2% Russian 0.4 0.5 36.5% 8
Hotels Portfolio as of 1 August, 2017 Independent Category 5 Stars 4 Stars 3 Stars Economy Extended Stay Travelers Brands No. of rooms by Location No. of rooms by ownership In Operation Pipeline 10% 33% 46% 58% No. of Hotels Thailand Overseas Total Thailand Overseas Total Grand Total 90% 67% 54% 42% Equity owned 12 2 14 2 - 2 16 1 2 - Joint Venture - - - 1 1 1 In Operation In operation + current Thailand Overseas pipeline Property Fund 1 - 1 - - - 1 Equity owned Management contract Management contract 19 3 22 4 10 14 36 # of rooms 2H17 2018 2019 Total Cambodia 240 240 Total 32 5 37 6 11 17 54 China 250 346 596 In Operation Pipeline Cuba 245 245 Doha 622 514 1,136 No.of Rooms Thailand Overseas Total Thailand Overseas Total Grand Total Dubai 550 550 Equity owned 3,358 252 3,610 431 - 431 4,041 Laos 162 162 Joint Venture - - - - 550 550 550 Maldives 101 101 Property Fund 202 - 202 - - - 202 Thailand 151 150 991 1,292 Total Rooms 151 1,267 2,904 4,322 Management contract 2,792 476 3,268 861 2,480 3,341 6,609 Total Hotels 1 5 11 17 Total 6,352 728 7,080 1,292 3,030 4,322 11,402 9 incl. contracts on hand only / Cosi samui plan to open in 2017 and Cosi Pattaya in 2019
Hotel Performance Q217 and 1H17 OCC (%) Q216 Q217 Chg (Pt) 1H16 1H17 Chg (pt) ARR (THB) Q216 Q217 %Chg 1H16 1H17 %Chg 78.6% 73.4% -5.2% 81.8% 78.7% - 3.1% Bangkok 3,469 2.6% 3,397 3,447 1.5% Bangkok 3,383 78.1% 80.8% 2.7% 83.0% 83.3% 0.3% 3,285 3,475 5.8% 4,223 4,450 5.4% Outside Bangkok Outside Bangkok 81.5% 76.8% -4.7% 83.4% 78.7% -4.7% 16,718 17,353 3.8% 20,743 20,200 -2.6% Maldives Maldives Average Thailand Average Thailand 3,315 3,473 4.8% 3,976 4,159 4.6% 78.2% 78.5% 0.3% 82.6% 81.9% -0.7% Average Total Average Total 4,236 4,372 3.2% 5,095 5,181 1.7% 78.4% 78.4% 0.0% 82.7% 81.7% -1.0% Performance highlights:Q2-17 • Performance of Centara Grand at Central World has been impacted Revpar (THB) Q216 Q217 %Chg 1H16 1H17 %Chg from new supply in the area. For Centara Grand Ladprao, the road Bangkok construction in that area and the lower budget from government and 2,657 2,545 -4.2% 2,778 2,711 -2.4% Bangkok corporate impact the performance of the hotel. 2,565 2,807 9.4% 3,507 3,708 5.7% Outside Bangkok Hotels outside Bangkok reported a solid RevPar growth at 9.4% yoy. Only Hua Hin and Hat Yai TH-Non 13,629 13,332 -2.2% 17,305 15,902 -8.1% Maldives reported negative RevPar growth. Bangkok Average Thailand 2,593 2,728 5.2% 3,285 3,407 3.7% Average Total 3,323 3,429 3.2% 4,213 4,233 0.5% Big growth in Revpar for Centara Grand Maldives in Q217 from Maldives recovering of Chinese guests and low base from renovation last year. 10
Hotel Financial Highlights Q217 & 1H17 Total Revenue (THBmn) NPAT (THBmn) EBITDA (THBmn) 0.9% NPAT NPAT margin EBITDA EBITDA margin 4,789 4,700 17.1% 25.0% 16.1% 34.3% 33.9% 20.0% 40.0% 8.5% 4.7% 23.8% 24.0% 35.0% 15.0% 769 805 5.9% 2.8% 0.8% 1,641 1,595 30.0% 10.0% 25.0% 5.0% 1.6% 20.0% 1,986 [VALUE] 15.0% 0.0% 44.4% 10.0% 473 480 -5.0% 5.0% 169 117 -10.0% 0.0% -5.0% -15.0% -10.0% -20.0% * * ** Q216 Q217 1H16 1H17 ** ** * * Q216 Q217 1H16 1H17 Q216 Q217 1H16 1H17 Total Revenue EBITDA NPAT Q217: Total revenue increased by Q217: EBITDA before extra item Q217: Net profit before extra item 0.8% yoy., mainly driven by improved by 1.6% yoy, mainly increased by 44.4% mainly due to performances of Centara Grand contributed by Centara Grand decrease in interest expense and Maldives, Centara Grand Pattaya Pattaya and Centara Grand tax. and Phuket hotels Maldives. 1H17: Net profit before extra item 1H17: Total revenue dropped by 1H17: EBTDA before extra item improved by 4.7% due to interest 0.9% yoy mainly because of decreased by 2.8% yoy mainly due expense and tax saving. performance of Maldives, Hua Hin to performance of Centara Grand and Centara Grand Central World. Hua Hin, Centara Grand Central World and Maldives. * Excluding Extra item from Special Income Contribution from Rental Adjustment- Property fund of 31.6mn in Q216 11 11 ** Excluding Revenue from Insurance Claim 35.9mn in 1Q17 related to flood in Centara Grand Phuket in Oct/Nov16
Total Revenue by Location: 1H17 Outside Bangkok Bangkok 53% 28% Total Revenue 1H16 1H17 28.4% 28.5% 1H17 20.3% Maldives 18.7% 16.9% 19% 15.6% 13.1% 12.5% 7.1% 7.4% 7.1% 6.5% 6.7% 6.4% 2.5% 2.4% Bangkok Maldives Phuket Pattaya Hua Hin Samui Krabi Others Bangkok Maldives Phuket Pattaya Hua Hin Samui Krabi Hat Hai Tak Total # of Rooms 1,077 252 827 555 249 302 192 245 113 3,812 % Contribution by Rooms 28.3% 6.6% 21.7% 14.6% 6.5% 7.9% 5.0% 6.4% 3.0% 100% % RevPar Growth 1H16-17 -2.4% -8.1% 11.5% 9.9% -8.5% 6.6% 3.5% -8.2% 14.2% 0.5% 12
Food Business 13
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