company presentationm.listedcompany.com/misc/presentations/20131203-m-oppday3q2013… · hot pot...

21
Company Presentation Opportunity Day 3Q2013 December, 2013

Upload: vuongdieu

Post on 04-Apr-2018

220 views

Category:

Documents


0 download

TRANSCRIPT

Company

Presentation

Opportunity Day 3Q2013

December, 2013

Company

Presentation

Opportunity Day 3Q2013

December, 2013

2

Copyright 2013 MK Restaurant Group Public Company Limited. All rights reserved. Any unauthorized use or disclosure is prohibited. The information

contained in our presentation is intended for general information purpose only. The information herein was obtained from various sources and is subject to

change without notice. We do not guarantee its accuracy or completeness.

Neither the information nor any opinion expressed constitutes an offer, or an invitation to make an offer, to buy or sell any securities or any options, futures

or other derivatives related to such securities.

In addition, this presentation includes statements of future expectations, projections or other forward-looking statements, which reflect our current views

with respect to future events and are not a guarantee of future performance. A number of important factors, risks and uncertainties could cause actual

results or outcomes to differ materially from those expressed in any forward-looking statement. Investors should seek financial advice regarding the

appropriateness of investing in any securities or investment strategies discussed in this presentation and should understand that statements regarding

future prospects may not be realized. Accordingly, we caution you not to rely unduly on these forward-looking statements. Past performance is not

necessarily a guide to future performance.

Disclaimer

3

Agenda

Company Overview

3Q13 Key Financial Highlights

Business Update

4

Business Structure

Japanese restaurant: Yayoi

Registered Capital: 150 MB

Training services for MK

group

Registered Capital: 35 MB

Restaurants in Singapore

Registered Capital: SGD12.5 Million (~ 320 MB)

MK Restaurants in Japan

Registered Capital: JPY250 Million (~80 MB)

12%

MK Interfoods Co., Ltd.

“MKI”

MK Services Training Center

Co., Ltd.

“MKST”

Plenus & MK Pte. Ltd.

“Plenus & MK”(Joint Venture)

Plenus MK Co., Ltd.

“Plenus MK”(Joint Venture)

50%100%100%

Suki restaurant : MK Suki, MK Gold

Thai restaurant : Na Siam, Le Siam

Japanese restaurant : Hakata, Miyazaki

Coffee shop & Bakery : Le Petit

Franchise

MK Restaurant Group Plc.

“M”

5

International Restaurant

Thai RestaurantJapanese RestaurantHot Pot Restaurant

Diversified Presence in Several Restaurant Segments

Our Restaurants

Leading Position in Hotpot and Japanese Restaurant Segments

an

Vietnam

Japan

Japan

an

Singapore

an

Indonesia

Other Restaurant

6

Restaurant Outlets in Thailand

Type of Business Restaurants Brand No. of Outlets Average Spending (THB)

Suki Restaurant MK 357 265

MK Gold 6 456

Japanese Restaurant Yayoi 104 220

Miyazaki 2 290

Hakata 1 225

Thai Restaurant Na Siam 1 235

Le Siam 2 456

Coffee Shop & Bakery

Le Petit 1 277

7

149 157 172 172

141 157182 191

2010 2011 2012 3Q2013Bangkok & Metropolitan area Provincial area

Leader in chained restaurant industry with nationwide branches coverage

Dominant Position in Chained Restaurant Industry

Extensive Coverage Nationwide

North

MK & MK Gold 19

Yayoi 3

West

MK & MK Gold 16

Yayoi 3

North East

MK & MK Gold 46

Yayoi 10

South

MK & MK Gold 41

Yayoi 4

East

MK & MK Gold 40

Yayoi 9

BKK & Greater BKK

MK & MK Gold 172

Yayoi 66

Central

MK & MK Gold 29

Yayoi 9

Branches

Japan

MK 34

Japan

an

MK 4

Vietnam

an

MK 1 / Yayoi 4

Singapore

an

MK 1

Indonesia

53%

47%

354290 314

363

33 4261 66

1822

3038

2010 2011 2012 Q3' 2013

Bangkok & Metropolitan area Provincial area

37%

63%

91

5164

104

8

Reputable Management Teams with Almost 30 Years of Experiences &

Focusing in Restaurant Business

0%

2%

4%

6%

8%

10%

12%

14%

16%

18%

-

2,000

4,000

6,000

8,000

10,000

12,000

14,000

1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

Revenues %Net Profit Margin

100 MK

restaurant

branches

200 MK

restaurant

branches

300 MK

restaurant

branches

Expand

business to

Japan -

franchise

Expand

business to

Vietnam -

franchise

Expand to

Japanese

restaurant

under

“Yayoi”

Expand

business to

Singapore

Expand

business to

Indonesia -

franchise

Million

9

Agenda

Company Overview

3Q13 Key Financial Highlights

Business Update

10

Gross Profit MarginGross Profit

Revenue ContributionRevenues

67% 67% 68% 67%67% 67% 67% 67%

Q1 Q2 Q3 9M

2012 2013

Revenues Growth

THB Million

MK

85%

Yayoi

14%

Others

1%

2,988 3,381 3,307

9,676

3,416 3,638 3,575

10,629

0

2,000

4,000

6,000

8,000

10,000

12,000

Q1 Q2 Q3 9M

2012 2013

+8% YoY

+10% YoY

1,977 2,244 2,221

6,441

2,273 2,394 2,354

7,021

Q1 Q2 Q3 9M2012 2013

THB Million

In 3rd quarter, revenues grew 8% while gross profit grew 6%, mainly from branch expansion

+6% YoY

+9% YoY

11

Net Profit Margin

Net Profit

554 538 503

1,595

486 481 529

1,496

0

500

1,000

1,500

2,000

Q1 Q2 Q3 9M

2012 2013

19%16%

15%16%

14%13%

15%14%

Q1 Q2 Q3 9M

2012 2013

EBITDA & Net Profit

THB Million

EBITDA

841 817 782

2,440

751 749 810

2,310

0

500

1,000

1,500

2,000

2,500

Q1 Q2 Q3 9M

2012 2013

THB Million

In 3rd quarter, EBITDA & Net Profit grew 3% and 5% YoY respeictively

EBITDA Margin

28%24%

24%25%

22% 21%23% 22%

Q1 Q2 Q3 9M

2012 2013

+3% YoY

-5% YoY

+5% YoY

-6% YoY

12

33%

26%

9%

-4% -4%

5% 7%

1Q12 2Q12 3Q12 4Q12 1Q13 2Q13 3Q13

6%

14%

6%

-2%2%

-4% -4%

1Q12 2Q12 3Q12 4Q12 1Q13 2Q13 3Q13

No. of Customers & SSSG

Negative Same-Store Sales Growth primarily due to the economic slowdown

12.0 13.5 12.6

38.1

12.8 13.6 12.6

39.0

Q1 Q2 Q3 9M

2012 2013

No. of

Customers

Same-Store

Sales

Growth

Same-Store

Sales

Growth

13

Private Consumption Index (PCI) vs. MK’s SSSG

-5%

0%

5%

10%

15%

20%

Q1-10 Q2-10 Q3-10 Q4-10 Q1-11 Q2-11 Q3-11 Q4-11 Q1-12 Q2-12 Q3-12 Q4-12 Q1-13 Q2-13 Q3-13

PCI SSSG

Source: PCI data from BOT Website

14

D/E Ratio

Liabilities & Shareholders’ EquityTotal Assets

Financial Position as at September 2013

THB Million

1,3334,219

3,753

9,763

0

2,000

4,000

6,000

8,000

10,000

12,000

14,000

16,000

31-Dec-12 30-Sep-13

Current Assets Non Current Assets

5,086

13,982

3,6152,026

1,471

11,955

0

2,000

4,000

6,000

8,000

10,000

12,000

14,000

16,000

31-Dec-12 30-Sep-13

Total Liabilities Shareholders's Equity

THB Million

5,086

13,982

2.46

0.17

31-Dec-12 30-Sep-13

Current Ratio

Liquidity is at a comfortable level as well as strong capital base to support growth

0.39

2.30

31-Dec-12 30-Sep-13

15

Agenda

Company Overview

3Q13 Key Financial Highlights

Business Update

16

Continued expansion strategy with shopping complexes, modern trade stores and community malls covering

nationwide

Outlet Expansion

35

20

9

MK Yayoi Others

10

21

30

55

1Q13 2Q13 3Q13 4Q13

MK Yayoi Others Accum.

No. of New

Outlets 2013

No. of New

Outlets 2014

17

Marketing Campaign “สขุล้น รวยล้าน”

18

Plan to start operation in February 2014

Status Update - New Central Kitchen

19

Continuous Growth Plan

Medium Term Outlook

2013

2017 Target

International expansion

MK: 10 branches

Yayoi: 15 branches

2017

2013 Plan

65 branches expansion

(MK: 45 and Yayoi: 25)

New factory (CK5) @ 27,000 sq. m.

with budget of THB 1,000 mm

New office @ 5,500 sq. m.

with budget of THB 320 mm

2013 YTD Progress

MK: 16 branches

Yayoi: 13 branches

New factory (CK5) is estimated to be

completed by February 2014

Completion of new head office

construction

Expansion Plan

Domestic:

Focus on MK and Yayoi brand, particularly in suburban area

Feasibility study and market testing for the expansion of Hakata

and Miyazaki

Potential to acquire sizeable brand that is scalable by leveraging

on M’s infrastructure (i.e., central kitchen and logistic network)

M has cash from IPO proceed that could be use to fund the new

brand acquisition

International:

Continue to test the possibility to expand internationally through

JV or franchise with partner who understands local market

Potential to acquire established international chained restaurant

20

Q & A