1Q2020 Presentation Results

May 2020

MK Restaurant Group PCL (“M”)

Company

Presentation

1

Agenda

Company Overview

1Q2020 Key Financial Highlights

Business Update

2

Business Structure

MK Restaurant Group Public Company Limited (M)

Plenus & MK Pte. Ltd.

Plenus MK Co.,Ltd.

100%

MK Service Training Center

Co., Ltd.

100%

50% 12%

Yayoi Japanese

Restaurants

Registered Capital:

400 MB

Provide training services

Registered Capital:

35 MB

Food manufacturer &

distributor

Registered Capital:

280 MB

Restaurants in

Singapore

Registered Capital:

SGD12.5 Million

MK Suki Restaurants

in Japan

Registered Capital:

JPY 250 million

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

Provide logistics &

warehouse services

Registered Capital:

1,750 MB

International Food Supply Co., Ltd.

100%

M-Senko Logistics Co., Ltd.

49.75%

Mark One Innovation Center

Co., Ltd.

100%

Research & development

Registered Capital:

60 MB

Catapult Co., Ltd.

100%

MK InterfoodCo., Ltd.

Restaurant business

Registered Capital:

2,070 MB

3

Restaurant Outlets in Thailand

Type of Business Restaurants Brand No. of Outlets

Suki RestaurantMK 451

MK Gold 6

MK Live 6

Japanese RestaurantYayoi 198

Miyazaki 23

Hakata 6

Thai RestaurantNa Siam 1

Le Siam 3

OthersLe Petit 3

Bizzy Box 8

Harvest 1

Remark: Data as of Mar 2020

4

Leader in chained restaurant industry with nationwide branches coverage

Dominant Position in Chained Restaurant Industry

89 99 97 106 116

5159 68

7882

2015 2016 2017 2018 2019

Bangkok & Metropolitan area Provincial area

197 199 200 202 213

222 225 235 246 250

2015 2016 2017 2018 2019

Bangkok & Metropolitan area Provincial area

Extensive Coverage Nationwide

North

MK / Gold / Live 24

Yayoi 6

West

MK / Gold / Live 19

Yayoi 7

North East

MK / Gold / Live 63

Yayoi 18

South

MK / Gold / Live 51

Yayoi 14

East

MK / Gold / Live 49

Yayoi 21

BKK & Greater BKK

MK / Gold / Live 213

Yayoi 116

Central

MK / Gold / Live 44

Yayoi 16

Branches

Japan

MK 34

Japan

an

MK 9

Vietnam

an

Yayoi 10

Singapore

54%

46%

419 424 448

41%

59%

158

184

140

an

MK 2 / Miyazaki 1

Lao PDR

435

165

463

198

5

3%0% 0%

-1%

2% 2%

-4%

0%

-20%

1Q18 2Q18 3Q18 4Q18 1Q19 2Q19 3Q19 4Q19 1Q20

Same-Store Sales Growth

In 1Q2020, 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.

3%1%

-4% 0%

0%

-3%

-9%-7%

-21%

1Q18 2Q18 3Q18 4Q18 1Q19 2Q19 3Q19 4Q19 1Q20

6

Agenda

Company Overview

1Q2020 Key Financial Highlights

Business Update

7

Total Revenues and Net Profit

%YoY Growth 2015 2016 2017 2018 2019 1Q2020

Total Revenues 0% 4% 6% 5% 4% -12%

Net Profit -9% 13% 15% 6% 1% -52%

Million Baht

14,923 15,498 16,458 17,234 17,871

4,421 3,877

1,856 2,100 2,425 2,574 2,604 710 340

2015 2016 2017 2018 2019 1Q19 1Q20

Total Revenues Net Profit

8

Gross Profit

Revenue ContributionRevenues from Sales and Services

Revenues Growth

In 1Q2020, revenues from sales & services dropped 13% from the previous year due primarily to the outbreak of

COVID-19.

THB Million

THB Million

14,478 15,146 16,073 16,770 17,409

4,352 3,795

2015 2016 2017 2018 2019 1Q19 1Q20

-13% YoY

9,534 10,193 10,899 11,475 11,926

2,979 2,525

65.9% 67.3% 67.8% 68.4% 68.5% 68.4% 66.5%

0%

10%

20%

30%

40%

50%

60%

-

2,000

4,000

6,000

8,000

10,000

12,000

14,000

2015 2016 2017 2018 2019 1Q19 1Q20

-15% YoY

MK, 74%

Yayoi, 18%

Others, 8%

9

SG&A

In 1Q2020, %SG&A to total revenues increased from 50% to 56% 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 vary by Revenues from Sales and Services.

SG&A Expenses

1Q2020 SG&A Expenses Breakdown

THB Million

7,660 7,942 8,299 8,806 9,183

2,218 2,188

51% 51% 50% 51% 51% 50%56%

0%

10%

20%

30%

40%

50%

-

2,000

4,000

6,000

8,000

10,000

12,000

2015 2016 2017 2018 2019 1Q19 1Q20

-1% YoY

Personel, 48%

Depreciation, 19%

Rental, 12%

Utilities, 7%

Others, 14%

10

Net Profit

THB Million

EBITDA

In 1Q2020, Both EBITDA & Net Profit dropped 8% and 52% YoY respectively compared to the previous year.

THB Million

EBITDA & Net Profit

3,139 3,468 3,840 3,952 3,982

1,062 974

21.0% 22.4% 23.3% 22.9% 22.3% 24.0% 25.1%

0%

5%

10%

15%

20%

25%

-

1,000

2,000

3,000

4,000

5,000

6,000

2015 2016 2017 2018 2019 1Q19 1Q20

1,856 2,100 2,425 2,574 2,604

710 340

12.4%13.5% 14.7% 14.9% 14.6%

16.1%

8.8%

0%

2%

4%

6%

8%

10%

12%

14%

16%

-

500

1,000

1,500

2,000

2,500

3,000

3,500

4,000

2015 2016 2017 2018 2019 1Q19 1Q20

-52% YoY

-8% YoY

11

Current RatioD/E Ratio

Financial Ratio

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

ROA (%) ROE (%)

3,315 6,597

14,306 14,647

0.2

0.4

- 0.05 0.10 0.15 0.20 0.25 0.30 0.35 0.40 0.45

-

5,000

10,000

15,000

20,000

31-Dec-19 31-Mar-20

Total Liabilities Shareholders's Equity D/E

3.5 3.0

31-Dec-19 31-Mar-20

14.8%11.5%

31-Dec-19 31-Mar-20

18.3%15.1%

31-Dec-19 31-Mar-20

12

Agenda

Company Overview

1Q2020 Key Financial Highlights

Business Update

13

Marketing Campaign in 1Q2020 – MK

14

Marketing Campaign in 1Q2020 – MK

15

Marketing Campaign in 1Q2020 – Yayoi

16

Marketing Campaign in 1Q2020 – Yayoi

17