KIMLY LIMITED FY2019 AGM CORPORATE ORATE PRESENTATION 21 January 2020
CONTE NTENTS NTS Corporate Profile Strategy Recalibration Financial Highlights Outlook
CORPO PORATE P RATE PROFILE OFILE Listed on 20 th March 2017 on the SGX Catalist Board, Kimly Limited is a leading and established operator of coffeeshops, food courts and other food outlets across Singapore, with a proven track KIML KIMLY LIMI Y LIMITED ED record of nearly 30 years . Kimly operates a total of 70 food outlets under its Outlet Management Division and 135 food stalls under its Food Retail Division as at 26 th November 2019. Outlet M let Management agement Food Food Retai Retail Divi Division on Divisio ision n
EXPANDIN PANDING G OUR F R FOOTPRIN OTPRINT Mixed Vegetable Seafood Zi Char Location Type Drink Stall Dim Sum Stall Kanaaji Rice Stall Stall Blk 691, Woodlands Awarded Drive 73 under HDB PQM Blk 365, Sembawang Awarded Crescent under HDB PQM Blk 322, Sumang Awarded Walk under HDB PQM Acquisition Blk 143, Teck Whye Lane Under 3 rd party Blk 106, Bidadari Managing Park Drive Agent brand Flavors @ U-Town Awarded new lease
STRATEG TEGY R RECALIBR IBRATIO ATION Asset Ownership Asset ownership • Direct ownership to enlarge revenue streams. • Maximizing Central Kitchen’s capabilities with Food Retail expansion. • Stability of Food Retail businesses through long term leases.
STRATEG TEGY R RECALIBR IBRATIO ATION Rationale of Asset Ownership • To further expand the Group’s network of food outlets • To establish new food outlets and food stalls as and when strategic locations become available • Enable the Group to mitigate uncertainty surrounding its private leases, which can be influenced by market competition
STRATEG TEGY R RECALIBR IBRATIO ATION Newly-acquired coffeeshop: Blk 143, Teck Whye Lane Acquisition S$14.0 million Consideration Teck Whye Neighborhood Centre Net Floor Area 224 sqm Opening Date In Operations Food Retail Dim Sum Stall and Mixed Vegetable Blk Blk 143 T 3 Teck eck Whye hye Lane ane Rice Stall Division Densely Populated Matured Housing Estate, Schools and Private Characteristics residential clusters. Served by 3 LRT stations. Teck Whye LRT Station Keat Hong LRT Station Phoenix LRT Station
STRATEG TEGY R RECALIBR IBRATIO ATION Newly-acquired coffeeshop: Blk 143, Teck Whye Lane
STRATEG TEGY R RECALIBR IBRATIO ATION Further enlarging our footprints * Non-binding term sheet between Jin Wei Holdings Pte. Ltd. and several vendors for the acquisition of a portfolio of coffeeshop leases, coffeeshop units and industrial canteen units Target Properties comprises: • Four long term leasehold coffeeshop properties units, which are HDB commercial units located within mature HDB estates; • Three freehold industrial canteen units, which are located in mature and populated industrial areas in close proximity to residential areas; and • Three short term coffeeshop leases, which are HDB direct leases, located within mature and populated HDB residential areas (The acquisition by the Group of interests in the entities holding the HDB leases for the three coffeeshop properties does not constitute an assignment of tenancy). *Please refer to the Group’s announcement released on 22 October 2019 for more information.
OUTLE OUTLET MANAGE MANAGEMENT DIVIS T DIVISION AWARDED UNDER HDB PQM: Blk 691, Woodlands Drive 73 In Operations Opening Date Seafood Zi Char Stall and Mixed Food Retail Division Vegetable Rice stall. Blk 691, Blk 1, Woodland odlands s Dr Dr 73 73 Matured Housing Estate, established footfall, close proximity to industrial Characteristics parks. More new housing estates are being constructed in close proximity.
OUTLET MANAGE OUTLE MANAGEMENT DIVIS T DIVISION AWARDED UNDER HDB PQM: Blk 691, Woodlands Drive 73
OUTLE OUTLET MANAGE MANAGEMENT DIVIS T DIVISION AWARDED UNDER HDB PQM: Blk 365, Sembawang Crescent Opening Date In Operations Dim Sum stall and Mixed Vegetable Food Retail Division Rice stall. Combination of a new and matured Characteristics Housing Estate, near schools, close proximity to industrial parks. Blk Blk 365, 5, Sembawan mbawang Crescent escent
OUTLET MANAGE OUTLE MANAGEMENT DIVIS T DIVISION AWARDED UNDER HDB PQM: Blk 365, Sembawang Crescent
OUTLE OUTLET MANAGE MANAGEMENT DIVIS T DIVISION AWARDED UNDER HDB PQM: Blk 322, Sumang Walk Opening Date In Operations Food Retail Dim Sum stall and Mixed Vegetable Rice stall. Division Blk Blk 322, 2, Sumang mang Wal Walk Right beside park connector, highly populated Schools and Condominiums. Served by 2 LRT Characteristics and 1 MRT stations. Limited F&B establishments in Sumang, Punggol estates.
OUTLET MANAGE OUTLE MANAGEMENT DIVIS T DIVISION Progressing with time Enhancing Tray Return Reward System Customers will return used cutlery and crockery to collection device located at a convenient area within the food outlet Reward: QR code for discount at food stall (synchronised with POS system to allow monitoring) Workload for cleaners and food outlet staff is reduced Cashless Payment at Bukit Batok Blk 292, U-Town, Jurong West Blk 651 Convenient alternative cashless payment methods, staying relevant to our younger customers who are more familiar with such cashless payment methods More than 50% of transactions are made through cashless payment options at Flavors@U-Town’s drinks stall.
OUTLE OUTLET MANAGE MANAGEMENT DIVIS T DIVISION Progressing with time Launch of New Improved Taste of our Traditional Kopi & Teh Peng! Cater to consumers’ preference Traditional Kopi and Teh Peng Can Drinks
OUTLE OUTLET MANAGE MANAGEMENT DIVIS T DIVISION Progressing with time: Flavours @ University Town, NUS IN OPERATIONS Estimated (Asset enhancement done in Opening Date 2019) Drinks stall, Kanaagi Japanese Food Retail food stall, Mixed Vegetable Rice Division stall Serves a large captive population Flavors@U avors@U-To Town wn in University Town. Close proximity to student Characteristics accommodation. Anchored by heritage hawker, Tian Tian Chicken Rice from Maxwell.
OUTLE OUTLET MANAGE MANAGEMENT DIVIS T DIVISION Progressing with time: Flavours @ University Town, NUS
FOO FOOD RETAIL TAIL DIVIS VISION ION Seafood afood “Zi Zi Char” ar” Stalls alls Harnessing the strengths of our Central Kitchen and IT capabilities to improve productivity Increase number Reduced Better Central Kitchen of semi- Tablet ordering workload for consistency in finished food increase in + Food pager stall workers, food quality items prepared system + POS productivity reduce reliance at central with machinery system + HQ ERP on highly- kitchen skilled chefs
FOOD RETAIL FOO TAIL DIVIS VISION ION Mixed xed Vegetab getable le Ric Rice Stalls alls Harnessing the strengths of our Central Kitchen and IT capabilities to improve productivity Replacing manual repetitive low value work with the help of food processing machines. Increased productivity Improved quality and consistency control Improve revenue per worker contribution Cost savings through bulk purchase
FOOD RETAIL FOO TAIL DIVIS VISION ION Mixed xed Vegetab getable le Ric Rice Stalls alls Harnessing the strengths of our Central Kitchen and IT capabilities to improve productivity Implementation of Combi-Oven Automation of several Automation of several cooking processes cooking processes Freeing up precious time so our frontline staff can do more higher value work, eg: improving customer service and hygiene management Reduced man-hour requirements for food Reduced man-hour requirements for food preparation preparation Energy-saving and heat reduction capabilities Implementation of to make work environment more conducive to Combi-Oven attract more seniors to join our industry
FOO FOOD RETAIL TAIL DIVIS VISION ION Dim Sum Dim Sum Stal Stalls Harnessing the strengths of our Central Kitchen and IT capabilities to improve productivity • The Group continues to devise new attractive products catering to changing consumer preferences. Target Incentive Program to Increased improve Strong reach of sales response online from delivery Newest customers footprint product in Dim Sum menu Bak Kwa Pau
FINANCI FINANCIAL HIGHLIGHTS AL HIGHLIGHTS FY2019 Revenue S$208.3 m REVENUE BY BUSINESS SEGMENT (S$’M) 3.0% / S$6.1 m y-o-y Outlet Management 208.3 202.2 97.2 S$111.1 m 192.1 88.6 80.9 172.2 2.2% / S$2.5 m y-o-y 74.6 46.7 % - Due mainly to cessation of 43.8 % 42.1 % operation of a coffeeshop 43.4 % 113.6 111.2 111.1 Food Retail 97.6 S$97.2 m 53.3 % 56.2 % 56.6% 57.9% 8.8% / S$8.6 m y-o-y - Due mainly to revenue contribution from new businesses (Tonkichi and FY2016 FY2017 FY2018 FY2019 Rive Gauche) and Outlet Management Division Food Retail Division delivery sales
FINANCIAL HIGHLIGHTS PROFITABILITY Gross Profit (S$’m) & EBITDA (S$’M) & EBITDA MARGIN (%) Gross Profit Margin (%) 27.5 27.4 27.1 20.00% 26.0 27.0 45 16.0% 40.7 40.2 37.2 38.4 14.1% 16.00% 40 23.0 21.6% 13.6% 20.0% 19.9% 12.5% 35 19.5% 12.00% 19.0 30 8.00% 25 15.0 20 4.00% 11.0 15 10 7.0 0.00% FY2016 FY2017 FY2018 FY2019 FY2016 FY2017 FY2018 FY2019 Gross Profit Gross Profit Margin EBITDA EBITDA Margin
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