Central tral Pl Plaza a Hote tel l Pl Plc. OPP PPORTU TUNITY TY DAY AY th Quarter 4 th rter & Full ll Year 2009 2009 March ch 3, , 2010 2010
AG AGEN ENDA DA Financial Su Summary ry Ho Hotel l Busine iness s Perform forman ance ce Food Bu Business Pe Performance ormance Co Company ny Outloo looks ks
Pe Performance formance Su Summary: ry: 2009 2009 Y-on on-Y ( Unit t : M : Mil. Bah . Baht ) 2009 2009 2008 2008 Amt. Amt. % TOTAL REVENUES NUES : 8,436.1 .1 8,171.7 .7 264 264.4 3.2% -CHR 3,860.6 3,470.7 389.9 11.2% -CRG 4,575.5 4,701.0 -125.5 -2.7% EBITDA DA 1,515 515.8 1,680 680.9 -165 165.1 -9.8% (EBITDA Margin) (18.0%) (20.6%) EBIT EBIT 528.7 528 798 798.4 -269 269.7 -33 33.8% (EBIT Margin) (6.3%) (9.8%) 53 53.1 346 346.0 -292 292.9 -84 84.7% NPAT NPAT (NPAT Margin) (0.6%) (4.2%) Total Revenues Profits +3.2% 8,171.7 8,436.1 9,000 -9.8% 2009 2008 8,000 2,000 1,515.81,680.9 7,000 54% 6,000 58% -33.8% 1,500 Food 5,000 -84.7% 4,000 Hotel 1,000 798.4 3,000 42% 528.7 46% 2,000 500 346.0 1,000 53.1 0 0 3 2009 2008 EBITDA EBIT NPAT
Financi nancial al St Status tus: : 2009 2009 Consolidated 31/12/08 Change %Change 31/12/09 Current Assets 1,425.0 1,413.9 11.1 0.8% Non-current Assets 18,392.0 16,227.4 2,164.6 13.3% Total Assets 19,817.0 17,641.3 2,175.7 12.3% Current Liabilities 4,098.0 7,222.4 (3,124.4) -43.3% Non-current Liabilities 9,442.4 3,986.3 5,456.1 136.9% Total Liabilities 13,540.4 11,208.7 1,604.2 20.8% Total Shareholder’ Equity 6,276.6 6,432.6 (156.0) -2.4% Consolidated Balance Sheets Liabil abilities ities & Equit ity Assets +12.3% +12.3% 19,814 19,814 Current 20,000 20,000 17,641 17,641 1,425 Assets Total 1,414 Liabilities 15,000 15,000 +0.8% 13,540 11,209 +20.8% Non-Current 10,000 10,000 18,392 16,227 Assets Shareholders’ Equity 5,000 5,000 +13.3% 6,433 6,277 -2.4% 0 0 FY' 2008 FY' 2009 FY' 2008 FY' 2009 4
Financi nancial al Rati tio o In Indica icator tor Efficiency Indicator Efficiency Indicator Total Shareholders' Equity and ROE Total Asset and ROA Equity (Million THB) Asset (Million THB) ROE (%) ROA (%) 7,000 6,433 15.3% 6,277 16% 25,000 16% 6,000 14% 19,817 14% 20,000 17,641 5,000 4,419 12% 4,334 12% 10% 3,503 4,000 15,000 10% 11,816 9,851 9.0% 8% 9.6% 8% 3,000 10,000 8,046 6% 6% 2,000 3.4% 6.7% 4% 5.4% 2.0% 4% 5,000 1,000 2% 4.2% 0.3% 2% 0 0% 0 0% 0.9% 2005 2006* 2007 2008 2009 2005 2006* 2007 2008 2009 Notes: ROA = NPAT / Asset Notes: ROE = NPAT / Equity *Include extra gain from selling floating hotel *Include extra gain from selling floating hotel Leverage Indicator Leverage Indicator Capital Structure and interest bearing Debt/Equity Ratio Interest Coverage Ratio Interest bearing Debt/Equity Ratio (Times) Times 1.30 15.2 1.31 22,000 1.4 16 12.9 20,000 14 0.97 1.2 18,000 0.92 0.91 12 16,000 1.0 9.4 14,000 10 0.8 7.3 12,000 Total 8 6.0 5.6 10,000 0.6 Liability 6 8,000 0.4 6,000 4 4,000 Equity 0.2 2 2,000 0 0.0 0 2005 2006 2007 2008 2009 2003 2005 2006 2007 2008 2009 Notes: Interest coverage ratio = EBITDA/(interest expense + 5 dividend to lender type in PPF + Interest Cap.)
CENTEL’s Borrowings Debentures , 2,595.8 MB. , Current portion of 31.5% L-T Loans, 463.2 MB. , 5.6% Current portion of S-T Loans, PPF, 62 MB. , 0.8% 1,550 MB. , 18.8% L-T Loans: PPF*, 217MB. , 2.6% Bank Overdarfts, 99.5 MB. , 1.2% L-T Loans*, 3,264.4 MB. , 39.6% Interest bearing Debt/Equity Q4/09 = 1.31X Total = 8,251.9MB Average Cost of debt = 3.75% S-T LOANS (26.4%) = 2,174.7 MB L-T LOANS (73.6%) = 6,077.2 MB. Bank Overdarfts L-T Loans* S-T Loans Debentures* Current portion of L-T Loans Current portion of PPF L-T Loans: PPF* Note: * Net of current portion, exclude loan from JV 6
AG AGEN ENDA DA Financial Su Summary ry Ho Hotel l Busine iness s Perform forman ance ce Food Bu Business Pe Performance ormance Co Company ny Outloo looks ks
Hote tel l In Industry stry Overvie rview Tourists Growth rate back to positive since September 09 60.0% 56.9% 55.5% 56.1% 48.0% 53.2% 53.4% 51.6% 43.0% 45.2% 49.0% 49.1% Foreign Tourists Growth (YoY%) 38.0% 50.0% 33.0% 49.3% 42.1% 40.9% 47.1% 28.0% 46.0% 40.0% 23.0% % occupancy 26.3% 41.4% 16.9% 18.0% 13.0% 11.0% 30.0% 10.5% 8.0% 3.0% 20.0% -2.0% -5.4% -3.0% Jun-09 Apr-08 3Q08 4Q08 1Q09 2Q09 May-09 Jul-09 Aug-09 Sep-09 Oct-09 Dec-09 Nov-09 Total 09 -7.0% -12.0% -2.0% 10.0% -17.0% -17.3% -14.2% -15.7% -16.5% -18.0% -22.0% -21.2% -27.0% 0.0% Number of foreign tourists (YoY%) Hotel Occupancy Rate (%) Total = 14.1 Mil. tourists Source: Bank of Thailand 8
%Oc Occupan ancy cy Movement t CHR R VS In Industr try in 2009 2009 90% 68.1% 65.6% 66.4% 65.8% 63.9% 63.1% 60.5% 59.3% 56.6% 56.1% 60% 56.6% 55.0% 56.9% 54.3% 51.3% 50.8% 52.6% 57.9% 49.1% %Ocupancy 46.2% 44.1% 52.1% 41.4% 49.1% 47.5% 40.9% 30% Industry Overall CHR 0% Feb-09 May-09 Jul-09 Sep-09 Jun-09 Aug-09 Oct-09 Nov-09 Dec-09 Jan-09 Mar-09 Apr-09 Total 09 Source : BOT, CHR 9
Hote tel l Bu Busine iness ss Overv rview iew The industry is seeing “green shots” with stronger demand, but clients are still extremely price conscience and searching for absolute value. Lead time for business is the shortest it has ever been with clients prepared to wait until the very last minute for bargains. Loyalty is much reduced with clients preferring best price for similar products. Asian markets continue to be concerned about political tensions. European markets are still concerned about economical issues especially unemployment. Centara continues to trade well having reviewed distribution, pricing policies and booking mechanisms to suit today market room night sales for January/ February 2011 trading up 44% to over 177,500 room nights (S.S.S. up 10% for some period). 10
Hot otel el Ope perat ating ing Per erfo formance rmance Q4/09 09 4,000 64.4% 58.9% 60.0% 54.6% 3,437 3,500 3,340 20.0% 3,000 -20.0% ARR 2,500 -60.0% RevPar -100.0% 2,000 %Occ -140.0% 1,462 1,500 -180.0% 2,151 2,024 1,000 -220.0% 500 798 -260.0% 0 -300.0% Q4/08 Q4/09 Industry Existing Hotel Performance Excl. CMBR Hotel Industry Performance Q4/08 Q4/09 %growth Q4/08 Q4/09 %growth %Occ. 58.9% 67.3% +8.4% %Occ 49.3% 54.6% +5.3% ARR 3,437 3,367 -2.0% ARR 1,582 1,462 -7.6% RevPar 2,024 2,266 +11.9% RevPar 780 798 +2.3% 11
Hotel tel Operational rational Pe Perfor formance: mance: 2009 2009 5,000 60.5% 64.2% 60.0% 49.1% 4,500 20.0% 4,000 -20.0% 3,367 3,500 ARR 3,278 -60.0% 3,000 RevPar -100.0% 2,500 %Occ -140.0% 2,000 1,434 -180.0% 1,500 2,162 -220.0% 1,000 1,983 -260.0% 500 704 0 -300.0% 2008 2009 Industry Same Hotel Performance Excl. CMBR Hotel Industry 2008 2009 %growth 2008 2009 %growth %Occ. 64.2% 62.1% -2.1% %Occ. 56.2% 49.1% -7.1% ARR 3,367 3,293 -2.2% ARR 1,516 1,434 -5.4% REVPAR 2,162 2,045 -5.4% REVPAR 851 704 -17.3% 12 Source: BOT
AG AGEN ENDA DA Financial Su Summary ry Ho Hotel l Busine iness s Perform forman ance ce Food Bu Business Pe Performance ormance Co Company ny Outloo looks ks
Mark rketi ting ng Campaign aign : Q : Q1/09 09 Shrim imp p Fit Burger er Wing g Zabb Mexican an Pla Peedz dz Hot & E Enjoy oy Sukiyak iyaki January February March MD Mini Donut Misdo do Buddy dy 2009 2009 MD Saku u Saku Mister er Sporty ty Membe mber r Card land Angel gel Stix Cupid d Pretzel el Golden en Pretzel el Spring ng Long ng Islan 14
Mark rketi ting ng Campaign aign : Q : Q2/09 9 Roas asted ed Chicken en Yum Rice Chewy Chees ese WingZ gZ Zabb bb Kua Kling Beef ef TACO Rice Tokusen n Specia ial April May June 10 10 Hits @ @ 10 10Bah aht Pret etzel Wing Éclair Stick Smart art Set Comet et Set Cris ispy py Cookie ie Puff 15 Happy ppy Set
Mark rketi ting ng Campaign aign : Q : Q3/09 09 Chic icken n Fit Burger rger Fish h Fit Burger rger Star ar DUO Wow Mix & Spec ecia ial l all in Match one one July August September MD Flocky Chou MD Pon De Shake Chees eesy Chicken n Bites es Pret etzel Mozza Chees ese Orien iental l Pret etzel el Dog Mango ngo Yoghur hurt Paris ris Brest est Popular pular Cream eam Puff Combo mbo
Mark rketi ting ng Campaign aign : Q : Q4/09 09 Cris ispy py Thai Curry ry Jim Joom om Shri rimp p Chees ese e Ball Sals lsa a Spagh ghet etti Sukiyak iyaki October November December MD Mini Donut ut Misdo do Club 2010 10 Membe ber r Card d Tripl iple-X X Pret etzel el Dog Go Go Set Chocolate Éclair 17 Stic ick
To Total l Sy System Sa Sales, , Sa Same St Store Sa Sales : Q4/08 08 - Q4/09 09 10% 8% 5.9% 5.4% 5.3% 6% 4% % Growth 2% 0.2% 0.1% 0% Q4/08 Q1/09 Q2/09 Q3/09 Q4/09 -2% -2.0% -2.5% -4% -3.3% -6% -6.6% -8% -9.1% -10% SSS TSS Remark : Exclude Pizza business. 18
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