4 0d btg 2q2017 presentation slides v3 (adjusted sizing...

Financial Results

Second Quarter 2017

2 August 2017

Bakery Food Atrium Restaurant

BreadTalk Group Limited

2Q 2017 FINANCIAL HIGHLIGHTSIncome Statement Highlights

2

S$ Million 2Q 2017 2Q 2016 Y/Y 1H 2017 1H 2016 Y/Y

Revenue 147.6 149.8 -1.5% 295.2 304.3 -3.0%

Bakery 72.3 74.8 -3.3% 145.9 150.7 -3.2%

Food Atrium 37.4 38.4 -2.7% 73.7 80.2 -8.1%

Restaurant 37.9 36.6 3.7% 75.7 73.5 3.0%

EBITDA 18.3 18.4 -0.4% 44.6 38.4 16.1%

Bakery 6.2 7.1 -12.7% 12.1 13.9 -12.6%

Food Atrium 5.9 1.4 326.0% 10.8 2.3 363.1%

Restaurant 7.3 7.4 -1.6% 14.7 13.9 5.7%

Others (1.0) 2.5 140.7% 6.9 8.2 -15.8%

EBITDA Margin 12.4% 12.3% +0.1 ppt 15.1% 12.6% +2.5 ppt

Bakery 8.6% 9.5% -0.9 ppt 8.3% 9.2% -0.9 ppt

Food Atrium 15.7% 3.6% +12.1 ppt 14.6% 2.9% +11.7 ppt

Restaurant 19.2% 20.2% -1.0 ppt 19.4% 18.9% +0.5 ppt

Net Profit 2.1 1.3 61.9% 12.8 3.8 241.4%

Net Margin 1.4% 0.9% +0.5 ppt 4.3% 1.2% +3.1 ppt

Core F&B Net Profit 4.0 3.0 35.1% 7.1 (2.4) 395.8%

Core F&B Net Margin 2.7% 2.0% +0.7 ppt 2.4% -0.8% +3.2 ppt

EPS (cents) 0.75 0.46 63.0% 4.55 1.33 242.1%

DPS (cents) 1.00 0.50 100.0% 3.00 1.85 62.2%

3

GROUP KEY FINANCIAL HIGHLIGHTS

1H 2017 REVENUE: S$295.2M 1H 2017 REVENUE BY GEOGRAPHY 1H 2017 EBITDA: S$44.6M

EBITDA MIX BY BUSINESSREVENUE MIX BY GEOGRAPHYREVENUE MIX BY BUSINESS

50%

26%

24%

Bakery$145.9m

49%

Food Atrium$73.7m

25%

Restaurant$75.7m

26%

1H 2016

1H 2017

54%

29%

11%

6%

Singapore$163.6m

55%China$81.0m

28%

Hong Kong$27.0m

9%

Others$23.5m

8%

1H 2016

1H 2017

36%

6%36%

22%

Bakery$12.1m

27%

Food Atrium$10.8m

24%

Restaurant$14.7m

33%

Others$6.9m16%

1H 2016

1H 2017

2Q 2017 FINANCIAL HIGHLIGHTSBalance Sheet Highlights

4

CASH & CASH EQUIVALENT VS NET DEBT

CURRENT ASSET VS CURRENT LIABILITIES

128

33

0

20

40

60

80

100

120

140

FY14 FY15 FY16 1Q17 2Q17

Cash and cash equivalents (S$ Million) Net debt (S$ Million)

83

4 4 9

197

206

0

50

100

150

200

250

300

FY15 FY16 1Q17 2Q17

Net current liabilities (S$ Million) Current assets (S$ Million)

Current liabilities (S$ Million)

S$ Million 2Q 2017 FY 2016

Total assets 510 534

Cash and cash equivalents 128 121

Accounts receivables 52 57

Inventories 9 10

Investment securities - 17

Other current assets 8 6

Current assets 197 212

Property, plant and equipment 167 181

Investment securities 73 73

Non-current assets 313 322

Total liabilities 354 382

Accounts payables 81 86

Current liabilities 206 216

Non-current liabilities 148 166

Borrowings and debt securities 161 182

Short term 27 32

Long term 134 150

Net debt 33 61

2Q 2017 FINANCIAL HIGHLIGHTSCash Flow Highlights

5

S$ Million 2Q 2017 2Q 2016

Operating cash flow before working capital changes 19 23

Net cash flow from operating activities 16 17

Less:

Capital expenditure (4) (6)

Investment in associate & joint venture (1) -

Net cash flow from / (used in) investing activities 21 (5)

Free cash flow 12 1

Net decrease in bank borrowings (5) (70)

Net cash flow used in financing activities (17) N.M.

Net cash flow 19 12

6

2Q 2017 FINANCIAL HIGHLIGHTSFinancial Ratios

2Q 2017 FY 2016

Trade Receivables Turnover (days) - Franchisee 82 90

Trade Receivables Turnover (days) - Non franchisee 2 2

Total Receivables Turnover (days) 7 8

Inventory Turnover (days) 25 26

Trade Payables Turnover (days) 29 29

Cash Conversion Cycle (days) 3 5

Net Debt/Shareholder's Equity 0.25x 0.46x

Net Debt/EBITDA 0.36x 0.69x

EBITDA/Interest expense 17.72x 14.76x

STRONG PRESENCE ACROSS ASIAStrong foothold across 17 territories in Asia and Middle East

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OUTLET DISTRIBUTION BY GEOGRAPHY OUTLET DISTRIBUTION BY BUSINESS SEGMENT

Bakery 862 (6) 856

Direct Operating 260 (1) 259

Franchise 602 (5) 597

Food Atrium 57 (1) 56

Restaurant 32 (2) 30

Din Tai Fung 24 0 24

Ramen Play 6 (3) 3

San Pou Tei 2 0 2

Sō 0 1 1

FY 2016

Net

Increase/ 1H 2017

China400

Others369

Singapore 167

Thailand6

SEA: Malaysia, Thailand, Philippines, Indonesia, Vietnam, Myanmar & CambodiaInternational: Taiwan, Kuwait, Sri Lanka, Bahrain, Oman, Saudi Arabia & Qatar

BAKERY DIVISION

8

REVENUE 1H 2017 REVENUE BY GEOGRAPHY

EBITDA

Singapore 44%

China 41%

Hong Kong 11%

SEA*3%

International1%

0

50

100

150

200

250

300

350

FY10 FY11 FY12 FY13 FY14 FY15 FY16 1H16 1H17

Revenue (S$ Million)

-3.2%

11.0%

9.3%8.6% 8.8%

7.8%7.3%

9.9%9.2%

8.3%

0.0%

2.0%

4.0%

6.0%

8.0%

10.0%

12.0%

0

5

10

15

20

25

30

35


EBITDA (S$ Million) Margin (%)

BAKERY DIVISION

9

SEA: Malaysia, Thailand, Philippines, Indonesia, Vietnam, Myanmar & CambodiaInternational: Taiwan. Kuwait, Sri Lanka, Bahrain, Oman, Saudi Arabia & Qatar

NUMBER OF BAKERY OUTLETS 1H 2017 OUTLET DISTRIBUTION BY GEOGRAPHY

129

862 856

0

200

400

600

800

1000

FY06 FY07 FY08 FY09 FY10 FY11 FY12 FY13 FY14 FY15 FY16 1H17

Number of outlets

China 372

Hong Kong 24

Singapore 125

SEA*298

International37

FOOD ATRIUM DIVISION

10


EBITDA

SEA: Malaysia & Thailand

Singapore 44%

China30%

Hong Kong 15%

SEA*5%

Taiwan6%

0

50

100

150

200



-8.1%

16.8%16.1%

13.3%

15.1% 14.7%

10.3%

7.7%

2.9%

14.6%

0.0%

4.0%

8.0%

12.0%

16.0%

20.0%

0

5

10

15

20

25



FOOD ATRIUM DIVISION

11

NUMBER OF FOOD ATRIUM OUTLETS 1H 2017 OUTLET DISTRIBUTION BY GEOGRAPHY

SEA: Malaysia & Thailand

China28

Singapore 15

Hong Kong 5

Taiwan 3

SEA*5

19

57 56

0

20

40

60

80


Number of outlets

RESTAURANT DIVISION

12


EBITDA

Singapore 93%

Thailand7%

0

25

50

75

100

125

150

175



+3.0%

10.1% 10.6%

13.5%14.2%

16.1%

23.7%

20.3%18.9% 19.4%

0.0%

5.0%

10.0%

15.0%

20.0%

25.0%

0

5

10

15

20

25

30

35



RESTAURANT DIVISION

13

NUMBER OF RESTAURANT OUTLETS 1H 2017 OUTLET DISTRIBUTION BY GEOGRAPHY

5

32

30

0

10

20

30

40

50


Number of outlets

Singapore 27

Thailand3

CONTACT US

14

Mr. Chan Ying JianGroup Chief Financial Officer

Mr. Benjamin TayInvestor Relations

Tel - (65) 6285 6116Email - [email protected]

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