Minor International PCL Minor International PCL Investor / Analyst Presentation The Stock Exchange of Thailand 29 th May 2006
Forward Looking Statements Forward Looking Statements 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, including without limitation, risks and uncertainties associated with the following: the continued ability of Minor International Public Company Limited (“Mint”) to attract and retain personnel; identification, completion, terms and timing of future acquisitions and dispositions; the availability and terms of capital for acquisitions and for renovations; execution of hotel renovation and expansion programs; the ability to maintain existing management, franchise or representation agreements and to obtain new agreements on favorable terms; competition within the lodging and leisure industry; the cyclicality of the real estate business and the hotel and leisure business; foreign exchange fluctuations and exchange control restrictions; general real estate and national and international economic conditions; political and financial conditions and uncertainties in countries in which Mint owns or operates properties; changes in current laws, rules or regulations of governmental or other regulatory bodies; and other risks and uncertainties set forth in the annual, quarterly and current reports and proxy statements of Mint filed with the Securities and Exchange Commission (the "SEC"). 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
Today’ ’s Presenters: s Presenters: Today Paul C. Kenny, CEO-Minor Food Group Pratana Manomaiphiboon, CFO
The St r engt h Behi nd The Br ands The St r engt h Behi nd The Br ands Agenda Agenda Key Takeaways in 1Q06 Performance & Financial Results MINT’s China Ambition Pipeline Expansion Capex & Cash Flow Investor / Analyst Presentation 29 May 2006 Page 4
Key Takeaways & Financial Results Key Takeaways & Financial Results Pratana Manomaiphiboon, CFO
The St r engt h Behi nd The Br ands The St r engt h Behi nd The Br ands Key Takeaways in 1Q06 Key Takeaways in 1Q06 Food Operating 4 The Pizza, 5 Sizzler, and 9 Le Jazz outlets in Beijing Started consolidating revenues from China food business in 1Q Total food outlets recorded 562 as of March 2006 Hotel Opened Bodu Huraa Hotel – Maldives, and Four Seasons Golden Triangle (Tented Camp) Currently operating 12 equity owned properties in Thailand, Vietnam, and Maldives. MINT manages most of its hotel properties except JW Phuket and Four Seasons properties Corporate Completed capital increase through rights offering in February and warrant issuance in March Total share outstanding as end of March 2006 equal 2,861m shares Investor / Analyst Presentation 29 May 2006 Page 6
The St r engt h Behi nd The Br ands The St r engt h Behi nd The Br ands 1Q06 Financials Snapshot 1Q06 Financials Snapshot Top-line revenue grew 22% y-y to Bt 3,209m Food & hotel business accounted for 48% and 44%, respectively EBITDA improved by 23% Bottom-line EPS increased 33% y-y to Bt0.1543/share Investor / Analyst Presentation 29 May 2006 Page 7
The St r engt h Behi nd The Br ands The St r engt h Behi nd The Br ands MINT’ ’s s 1Q06 Revenue Breakdown 1Q06 Revenue Breakdown MINT 4,000 (Bt Million) 22% Growth 3,209 Other income 3,000 2,636 Spa Business 44% 2,000 Retail & Entertain 44% 36% 40% 46% Hotel Services 1,000 48% 48% 55% 51% 44% Food Services 0 1Q05 2Q05 3Q05 4Q05 1Q06 Investor / Analyst Presentation 29 May 2006 Page 8
The St r engt h Behi nd The Br ands The St r engt h Behi nd The Br ands 1Q06 Same- -Store Store- -Sales Sales 1Q06 Same 1Q06 SSS Growth The Pizza Company 15% The Pizza Company 15% Swensen’s 9% Swensen’s 9% Sizzler 0% Sizzler 0% Dairy Queen 8% Dairy Queen 8% Burger King 15% Burger King 15% Average 9% Average 9% Investor / Analyst Presentation 29 May 2006 Page 9
The St r engt h Behi nd The Br ands The St r engt h Behi nd The Br ands 1Q06 Total- -System System- -Sales Sales 1Q06 Total 1Q06 TSS Growth The Pizza Company 26% The Pizza Company 26% Swensen’s 27% Swensen’s 27% Sizzler 13% Sizzler 13% Dairy Queen 15% Dairy Queen 15% Burger King 22% Burger King 22% Average 24% Average 24% Investor / Analyst Presentation 29 May 2006 Page 10
The St r engt h Behi nd The Br ands The St r engt h Behi nd The Br ands 1Q06 Franchising Revenues 1Q06 Franchising Revenues 100 h t w o r G 90 (Bt Million) % 1 2 80 70 60 50 57 40 International 6 Franchising Fee 30 8 9 6 20 Local 28 Franchising Fee 21 20 10 19 17 0 1Q05 2Q05 3Q05 4Q05 1Q06 Note: 3Q05 franchising revenues mainly from territory fee from Saudi Arabia Investor / Analyst Presentation 29 May 2006 Page 11
The St r engt h Behi nd The Br ands The St r engt h Behi nd The Br ands 1Q06 Occupancy Rate & ADR 1Q06 Occupancy Rate & ADR Occupancy Avg. Room Rate(Bt/night) Hotel 1Q06 1Q05 1Q06 1Q05 %Chg Bangkok Marriott Resort & Spa 92% 87% 4,204 3,557 18% Pattaya Marriott Resort & Spa 92% 87% 3,531 3,266 8% Hua Hin Marriott Resort & Spa 93% 93% 4,162 3,850 8% JW Marriott Phuket 58% 78% 7,143 6,047 18% Anantara Resort & Spa Hua Hin 88% 86% 4,857 4,641 5% Anantara Resort & Spa Golden Triangle 49% 51% 6,015 5,163 16% Anantara Resort & Spa Koh Samui 62% 53% 6,561 6,350 3% Four Seasons Resort Chiang Mai 68% 67% 13,955 13,256 5% Four Seasons Hotel Bangkok 79% 64% 5,985 5,488 9% Four Seasons Tented Camp 35% n.a. 16,848 n.a. n.a. Average 80% 78% 5,236 4,737 11% Investor / Analyst Presentation 29 May 2006 Page 12
The St r engt h Behi nd The Br ands The St r engt h Behi nd The Br ands 1Q06 RevPar RevPar & Total Revenue & Total Revenue 1Q06 Rev Par (Bt) Total Revenue (Btm) %Chg Hotel 1Q06 1Q05 % Chg 1Q06 1Q05 Bangkok Marriott Resort & Spa 3,881 3,087 26% 290 246 18% Pattaya Marriott Resort & Spa 3,238 2,853 13% 141 128 10% Hua Hin Marriott Resort & Spa 3,861 3,587 8% 109 101 7% JW Marriott Phuket Resort & Spa 4,168 4,744 -12% 194 172 13% Anantara Resort & Spa Hua Hin 4,261 3,995 7% 106 98 8% Anantara Resort & Spa Golden Triangle 2,941 2,619 12% 37 40 -7% Anantara Resort & Spa Samui 4,085 3,366 21% 58 47 25% Four Seasons Resort Chiang Mai 9,437 8,817 7% 119 113 5% Four Seasons Hotel Bangkok 4,717 3,504 35% 274 221 24% Four Seasons Tented Camp 5,835 n.a. n.a. 15 n.a. n.a. Average 4,207 3,705 14% 1,344 1,168 15% Investor / Analyst Presentation 29 May 2006 Page 13
The St r engt h Behi nd The Br ands The St r engt h Behi nd The Br ands Spa Business Performance Business Performance Spa 120 (Bt Million) h t w o r G % 5 4 100 22 17 International 80 14 13 13 60 40 79 Local 78 70 57 55 20 0 1Q05 2Q05 3Q05 4Q05 1Q06 Investor / Analyst Presentation 29 May 2006 Page 14
The St r engt h Behi nd The Br ands The St r engt h Behi nd The Br ands Retail Properties & Entertainment Retail Properties & Entertainment 12% Growth (Bt Million) 150 120 Entertainment 24 21 21 24 22 90 = 60 Retail Property 104 103 99 95 91 30 0 1Q05 2Q05 3Q05 4Q05 1Q06 Investor / Analyst Presentation 29 May 2006 Page 15
The St r engt h Behi nd The Br ands The St r engt h Behi nd The Br ands 1Q06 Consolidated Performance 1Q06 Consolidated Performance 1Q06 % 1Q05 % % Growth (Bt Million) Food Services 1,558 48% 1,271 48% 23% Hotel Services 1,376 43% 1,173 44% 17% Retail Property 103 4% 91 3% 13% Spa 101 3% 70 3% 44% Entertainment 24 1% 22 1% 9% Other income 47 1% 10 0% Total Revenue 3,209 100% 2,636 100% 22% Operating Expenses 1,001 31% 834 32% SG&A Expenses 1,263 39% 1,034 39% EBITDA 945 29% 768 29% 23% Depreciation & Amortization 308 10% 280 11% EBIT 637 20% 487 18% 31% Interest Expenses 69 2% 69 3% Tax & Minority 148 5% 118 4% Investor / Analyst Presentation Net Profit 420 13% 300 11% 40% 29 May 2006 Page 16
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