Company Presentation MK Restaurant Group PCL (“M”) 2 Q2020 Presentation Results August 2020
Agenda Company Overview 2Q2020 Key Financial Highlights Business Update 1
Business Structure MK Restaurant Group Public Company Limited (M) MK Suki, MK Gold and MK Live restaurants Thai restaurants – Na Siam and Le Siam Japanese restaurants – Miyazaki and Hakata Others – Le Petit, MK Harvest, Bizzy Box Overseas franchise 100% 100% 100% 49.75% 100% MK Service MK Interfood International Food M-Senko Logistics Catapult Co., Ltd. Training Center Co., Ltd. Supply Co., Ltd. Co., Ltd. Co., Ltd. Provide logistics & Yayoi Japanese Food manufacturer & Provide training services Restaurant business distributor warehouse services Restaurants Registered Capital: Registered Capital: Registered Capital: Registered Capital: Registered Capital: 35 MB 2,070 MB 65% 400 MB 280 MB 1,750 MB 100% 50% 12% Mark One Plenus & MK Pte. Laem Charoen Innovation Center Plenus MK Co.,Ltd. Ltd. Seafood Co., Ltd. Co., Ltd. Research & development Restaurants in MK Suki Restaurants Seafood Restaurants Registered Capital: Singapore in Japan Registered Capital: 60 MB Registered Capital: Registered Capital: 185 MB SGD12.5 Million 2 JPY 250 million
Restaurant Outlets in Thailand Type of Business Restaurants Brand No. of Outlets Suki Restaurant MK 451 6 MK Gold MK Live 6 Japanese Restaurant 199 Yayoi Miyazaki 23 Hakata 6 Thai Restaurant 1 Na Siam 3 Le Siam Others 3 Le Petit 8 Bizzy Box 1 Harvest 3 Remark: Data as of Jun 2020
Dominant Position in Chained Restaurant Industry Leader in chained restaurant industry with nationwide branches coverage 463 463 448 Extensive Coverage Nationwide 435 424 Branches North 250 250 246 54% 235 225 MK / Gold / Live 24 Yayoi 6 North East MK / Gold / Live 62 West Yayoi 18 MK / Gold / Live 19 Yayoi 7 213 213 202 199 200 46% East MK / Gold / Live 50 Central Yayoi 22 MK / Gold / Live 44 Yayoi 16 2016 2017 2018 2019 1H20 BKK & Greater BKK MK / Gold / Live 213 Bangkok & Metropolitan area Provincial area Yayoi 116 199 198 184 165 158 42% 83 82 South 78 MK / Gold / Live 51 68 59 Yayoi 14 Vietnam Japan an Japan 58% 116 116 106 99 97 MK 9 MK 33 Lao PDR Singapore 2016 2017 2018 2019 1H20 an an Bangkok & Metropolitan area Provincial area 4 MK 2 / Miyazaki 1 Yayoi 9
Timeline for COVID-19 Lockdown Announcement of the Only delivery and 22 Mar’20 Bangkok Metropolitan takeaways are allowed Administration Only delivery and 3 May’20 Relax lockdown phase I takeaways are allowed Allow dine-in with 17 May’20 Relax lockdown phase II strict measures Allow dine-in with 1 Jun’20 Relax lockdown phase III social distancing Allow dine-in with 15 Jun’20 Relax lockdown phase IV social distancing 5
Same-Store Sales Growth In 2Q2020, same-store sales growth for MK and Yayoi dropped significantly compared to the previous year mainly due to the prohibition of dine-in in order to protect the spreading of Corona virus disease. 2% 2% 2% 1Q19 2Q19 1Q20 2Q20 1H19 1H20 -19% -38% -56% 0% 1Q19 2Q19 1Q20 2Q20 1H19 1H20 -3% -1% -21% -37% -51% 6
Agenda Company Overview 2Q2020 Key Financial Highlights Business Update 7
Total Revenues and Net Profit Million Baht Total Revenues Net Profit 17,871 17,234 16,458 15,498 14,923 8,969 6,073 2,574 2,425 2,604 2,100 1,856 1,398 93 2015 2016 2017 2018 2019 1H19 1H20 %YoY Growth 2015 2016 2017 2018 2019 1H2020 Total Revenues 0% 4% 6% 5% 4% -32% Net Profit -9% 13% 15% 6% 1% -93% 8
Revenues Growth In 2Q2020, revenues from sales & services dropped 52% from the previous year due primarily to the outbreak of COVID-19. Revenues from Sales and Services Revenue Contribution Others, 2% THB Million 8,822 -32% YoY LCS, 6% 5,958 -52% YoY Yayoi, 19% 4,470 4,352 3,795 2,163 MK, 73% 1Q19 2Q19 1Q20 2Q20 1H19 1H20 Gross Profit THB Million 69.0% 68.7% -36% YoY 68.4% 70% 10,000 9,000 66.5% -57% YoY 68% 8,000 64.8% 6,063 66% 7,000 6,000 61.7% 64% 3,859 5,000 3,085 2,979 62% 2,525 4,000 3,000 1,333 60% 2,000 58% 1,000 56% - 9 1Q19 2Q19 1Q20 2Q20 1H19 1H20
SG&A Expenses In 2Q2020, %SG&A to total revenues increased from 51% to 75% compared to the prior year primarily due to the decrease of Revenues from Sales and Services while some expenses such as rent, labor cost and depreciation did not drop as much as Revenues from Sales and Services. SG&A 1H2020 SG&A Expenses Breakdown THB Million 75% 9,000 Others, 63% 70% 8,000 16% 56% 51% 60% 7,000 51% 50% Utilities, 6% 6,000 -16% YoY 50% 4,561 Personel, 5,000 -29% YoY Rental, 40% 3,845 49% 4,000 7% 30% 2,344 2,218 2,188 3,000 1,657 20% 2,000 Depreciation, 10% 1,000 22% - 0% 1Q19 2Q19 1Q20 2Q20 1H19 1H20 10
EBITDA & Net Profit In 2Q2020, Both EBITDA & Net Profit dropped 76% and 136% YoY respectively compared to the previous year. EBITDA THB Million 25.1% 24.0% 23.5% 23.0% 3,500 25% -76% YoY 20.2% 3,000 20% 2,109 2,500 -42% YoY 11.6% 15% 2,000 1,229 1,062 1,047 974 1,500 10% 1,000 256 5% 500 - 0% 1Q19 2Q19 1Q20 2Q20 1H19 1H20 Net Profit THB Million 16.1% 15.6% 15.1% 13% 1,700 -93% YoY 8.8% 1,398 8% 1,200 -136% YoY 1.5% 710 689 3% 700 340 -2% 93 -11.3% 200 -7% 1Q19 2Q19 1Q20 2Q20 1H19 1H20 (300) -12% (247) 11
Financial Ratio Liquidity is at a comfortable level as well as strong capital base to support growth. Current Ratio D/E Ratio 0.47 3.5 0.50 20,000 0.40 2.8 14,306 13,199 15,000 0.30 0.23 10,000 6,266 0.20 3,315 5,000 0.10 - - 31-Dec-19 30-Jun-20 31-Dec-19 30-Jun-20 Total Liabilities Shareholders's Equity D/E ROA (%) ROE (%) 18.3% 14.8% 9.4% 7.1% 31-Dec-19 30-Jun-20 31-Dec-19 30-Jun-20 12
Agenda Company Overview 2Q2020 Key Financial Highlights Business Update 13
Outlet Expansion Plan Revise Y2020 plan to slow down the new outlet expansion due to the uncertainty from the COVID-19 outbreak. 4 3 Revised Plan No. of New outlets in 2020 1 MK Yayoi Others 3 No. of New 2 outlets opened in 1H2020 1 MK Yayoi Others 14
15
Recommend
More recommend
