Anantara Phuket Layan WRAP Melbourne Company Presentation - Aug 2014
FORWARD LOOKING STATEMENT Statements included or incorporated in these materials that use the words "believe", "anticipate", "estimate", "target", or "hope", or that otherwise relate to objectives, strategies, plans, intentions, beliefs or expectations or that have been constructed as statements as to future performance or events, are "forward-looking statements" within the meaning are not guarantees of future performance and involve risks and uncertainties that could cause actual results to differ materially from historical results or those anticipated at the time the forward-looking statements are made. MINT undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. MINT makes no representation whatsoever about the opinion or statements of any analyst or other third party. MINT does not monitor or control the content of third party opinions or statements and does not endorse or accept any responsibility for the content or the use of any such opinion or statement. Disclaimer 2
Agenda 1H14 Performance Recap & Recent Updates Restaurant Business Hotel & Mixed-Use Business Other Important Information SIFU Hong Kong Master Ribs in Singapore
1H14 Performance Recap Royal Livingstone Hotel, Zambia Gaborone Sun Hotel & Casino, Botswana Lesotho Sun Hotel & Casino, Lesotho Kalahari Sands Hotel & Casino, Namibia
CONTINUED GROWTH WITH DIVERSIFICATION MINT REPORTED 1H14 NET PROFIT OF THB 2.0 BILLION, AN 11% INCREASE YoY , DEMONSTRATING THE BENEFIT OF MINT’S DIVERSIFICATION AND INTERNATIONAL EXPANSION STRATEGY, AS STRONG PERFORMANCE OF INTERNATIONAL OPERATIONS MITIGATED THE IMPACT OF SLOWDOWN IN TOURIST ARRIVALS AND DOMESTIC CONSUMPTION IN THAILAND. NET PROFIT GROWTH WAS DUE TO BOTH HOSPITALITY AND RESTAURANT BUSINESSES, TOGETHER WITH THE GAIN ON FAIR VALUE ADJUSTMENT OF INVESTMENT IN SERENDIB IN SRI LANKA. REVENUES THB Million +10% YoY 19,753 20,000 17,888 18,000 16,000 14,000 12,000 1H13 Hotel & Mixed-Use Restaurant Retail Trading 1H14 NET PROFIT Excl one-time gain THB Million +7% YoY +11% YoY 2,200 2,037 2,000 1,838 1,800 1,600 1,400 1,200 1H13 Hotel & Mixed-Use Restaurant Retail Trading 1H14 1H14 Performance Recap 5
INTERNATIONAL PRESENCE WITH SOLID DIVERSIFICATION STRATEGY, MINT’S PRESENCE IS NOW IN 33 COUNTRIES ACROSS ITS HOSPITALITY AND RESTAURANT BUSINESSES. REVENUE CONTRIBUTION 100% 13% 32% 38% 45% 75% International Thailand 50% 87% 68% 62% 55% 25% 0% 2008 2013 1H14 2018F Egypt Hotel Restaurant Combination MINT’s Footprint 6
Restaurant Business Basil by ThaiExpress in Singapore
RECENT UPDATES – RESTAURANT MINT CONTINUES TO INVEST IN ITS FUTURE, POISED FOR SOLID GROWTH GOING FORWARD. Invested 50% to operate BreadTalk’s bakery operations in Thailand Invested 70% in Swensen’s operations in India This resulted in conversion of the existing 4 outlets from franchised MINT’s investment size: THB 103 million for the 50% investment to 70%-owned outlets BreadTalk Group’s support: as brand owner, and provide The existing franchisee, Devyani International, maintains the technical know-how remaining 30% shareholding MINT’s support: its established platform in Thailand, including supply chain management, property management, outlet expansion, franchising and legal support With the combination of BreadTalk’s strong brand recognition and MFG’s profound knowledge of Thailand together with its operational excellence and customer service, there is a vast growth potential for BreadTalk operation in Thailand over the next few years The plan is to actively grow Breadtalk bakery outlets from existing 23 outlets, initially with company-owned business model and later Opened the first franchised Coffee Club outlets in Bali & Malaysia with franchised model The two outlets marked The Coffee Club’s entrance into the The joint-venture is expected to be established by the end of countries. September, after fulfilling the customary conditions precedent Restaurants Updates 8
RECENT UPDATES – CONT’D MINT CONTINUES TO INVEST IN ITS FUTURE, POISED FOR SOLID GROWTH GOING FORWARD. Launched two new concepts under Singapore Hub: Launched “Thai Cuisine Academy” Partnership between three reputable parties: Basil by ThaiExpress • MINT • S&P Syndicate • Iron Chef Chumpon Jangprai The Academy will help strengthen the talent pool for restaurants under Minor Food Group, Minor Hotel Group, and others The courses range from one-month to 9-month courses, for both profession and non-professional individuals The school is located in the heart of Thonglor, and is able to SIFU Hong Kong Master graduate over 100 students and professional chefs per year Ribs The initiative is to respond to the quick change in consumer taste in Singapore and ultimately to increase customer count and overall sales Restaurants Updates 9
FINANCIAL PERFORMANCE - RESTAURANT 1H14 REVENUE OF THE RESTAURANT BUSINESS INCREASED BY 12% YoY, PRIMARILY FROM THE OUTLET EXPANSION OF 12%. 1H14 NET PROFIT GREW BY 4%, A SMALLER MAGNITUDE THAN REVENUE INCREASE MAINLY AS A RESULT OF CONTRACTION OF DOMESTIC CONSUMPTION WHICH LED TO LOWER OPERATING LEVERAGE AMIDST POLITICAL EVENTS IN 1Q14. NONETHELESS, THAILAND HUB, THE BIGGEST CONTRIBUTER TO THE RESTAURANT BUSINESS, SAW A TURNAROUND IN SAME-STORE-SALES GROWTH AND NORMALIZED MARGINS IN 2Q14. +12% YoY Key Highlights +14% YoY 8,537 THB million 4,307 4,230 1H14 total-system-sales exhibited strong growth 7,603 of 10.8%, primarily from the outlet expansion of 3,997 3,878 12% YoY; Revenue 3,742 3,725 Riverside, Burger King and Ribs & Rumps reported total-system-sales growth of over 20% in 1H14; 1H14 same-store-sales was flat YoY. Same-store- +6% YoY sales in 2Q14 was 1.5%, as Thailand Hub +14% YoY 1,433 witnessed a turnaround amidst improving 761 716 1,350 708 725 consumer confidence and consumption, together 648 634 with new marketing initiatives; EBITDA Australia Hub reported positive same-store-sales growth, with net profit rising 9% YoY in 1H14; Although Singapore Hub reported negative same- EBITDA 18.5% 17.0% 17.3% 19.0% 16.4% 17.1% 17.8% 16.8% store-sales growth in 1H14, its net profit Margin increased significantly by 37% YoY; +4% YoY +23% YoY China Hub saw improved operational 742 716 performance YoY in 1H14, driven primarily by 461 409 strong performance of Riverside; 363 379 308 323 EBITDA & net profit margins declined in 1H14 NPAT YoY, attributable to lower operating leverage of Thailand Hub from the negative same-store-sales growth during 1Q14. Nonetheless, EBITDA and Net 10.5% 8.3% 8.6% 11.5% 8.4% 9.0% 9.4% 8.7% net profit margins saw improving trend in 2Q14. Margin 1Q13 2Q13 3Q13 4Q13 2Q14 1Q14 1H13 1H14 Restaurants Updates 10
RESTAURANT INTERNATIONAL FOOTPRINT MINT OPERATES FOUR RESTAURANT HUBS: THAILAND, SINGAPORE, AUSTRALIA AND CHINA. MINT’S RESTAURANT PRESENCE IS NOW IN 20 COUNTRIES ACROSS THE REGION, OPERATING OWNED, FRANCHISED AND A COMBINATION OF BOTH BUSINESS MODELS. MINT CONTINUES TO LOOK FOR OPPORTUNITIES TO EXPAND, ESPECIALLY IN THESE EXISTING MARKETS THAT MINT OPERATES. REVENUE CONTRIBUTION 100% 19% 30% 33% 44% 75% International Thailand 50% 81% 70% 67% 56% 25% 0% 2008 2013 1H14 2018F Egypt Owned Franchised Combination Hub Restaurants Updates 11
RESTAURANT PERFORMANCE 2Q14 TOTAL-SYSTEM-SALES OF THE RESTAURANT BUSINESS CONTINUED TO GROW BY 12.4%, DUE TO SAME-STORE-SALES GROWTH OF 1.5% AND OUTLET EXPANSION OF 12% YoY. 2Q14 SAME-STORE-SALES GROWTH BOUNCED BACK TO POSITIVE TERRITORY UPON PROACTIVE MARKETING INITIATIVES, TOGETHER WITH IMPROVING SENTIMENT AND DOMESTIC CONSUMPTION IN THAILAND. SSS & TSS GROWTH RESTAURANT OUTLETS BY GEOGRAPHY 2,625 International 20% Thailand +12% YoY 47% 14.6% 1,592 1,544 14.3% 13.9% 13.2% 15% 12.4% 35% 35% 676 9.4% 53% 7% 10% 65% 65% 93% 4.1% 2007 2013 2Q14 2018F 5% 1.1% 1.5% 0.9% RESTAURANT OUTLETS BY OWNERSHIP 0.0% -1.8% 0% 2,625 Franchised Owned +12% YoY 46% -5% 1,592 1,544 1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 No. of 1,406 1,419 1,464 1,544 1,568 1,592 47% 48% Outlets 676 54% 18% 53% 52% Same-Store-Sales Growth Total-System-Sales Growth 82% 2007 2013 2Q14 2018F Restaurants Updates 12
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