mk restaurant group pcl (“m”)m.listedcompany.com/misc/presentations/20150309-m...2015/03/09 ·...
TRANSCRIPT
2014 Presentation Results
February 2015
MK Restaurant
Group PCL (“M”)
Company
Presentation
Strictly Confidential
1
Agenda
Company Overview
2014 Key Financial Highlights
Business Update
2
Business Structure
Japanese restaurant: Yayoi
Registered Capital: 400 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”
3
Restaurant Outlets in Thailand
Type of Business Restaurants Brand No. of Outlets Average Spending (THB)
Suki Restaurant MK 401 290
MK Gold
6 490
Japanese Restaurant Yayoi
129 240
Miyazaki
13 300
Hakata
3 200
Thai Restaurant Na Siam
1 260
Le Siam
3 540
Coffee Shop & Bakery
Le Petit
1 220
Remark: Data as of Dec 2014
4
33 42 61 70 79 18
22
30
43 50
2010 2011 2012 2013 2014
Bangkok & Metropolitan area Provincial area
149 157 172 176 189
141 157 182 205
218
2010 2011 2012 2013 2014
Bangkok & 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 22
Yayoi 5
West
MK & MK Gold 17
Yayoi 4
North East
MK & MK Gold 51
Yayoi 11
South
MK & MK Gold 47
Yayoi 7
East
MK & MK Gold 44
Yayoi 11
BKK & Greater BKK
MK & MK Gold 189
Yayoi 79
Central
MK & MK Gold 37
Yayoi 12
Branches
Japan
MK 31
Japan
an
MK 3
Vietnam
an
MK 2 / Yayoi 6
Singapore
an
MK 1
Indonesia
54%
46%
354
290 314
381
39%
61%
91
51 64
113
407
129
Remark: Data as of Dec 2014
5
2%
-3% -4%
-6%
-9%
-6%
-1%
1%
1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 3Q14 4Q14
Same-Store Sales Growth
Negative Same-Store Sales Growth primarily due to the economic slowdown as well as political impact
Average Spending / Customer No. of Customers / store / month
269 269 282 287 292 290 294 296
1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 3Q14 4Q14
9,922 10,280 9,341 8,884
8,026 8,714 8,606 8,450
1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 3Q14 4Q14
6
-4%
5%
7%
-4% -5%
-8% -10%
7%
1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 3Q14 4Q14
Same-Store Sales Growth
Negative Same-Store Sales Growth primarily due to the economic slowdown as well as political impact
Average Spending / Customer No. of Customers / store / month
218 221 230 230 230 227 231 241
1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 3Q14 4Q14
7,324 7,857
7,256 6,461 6,247
6,734 6,272 6,379
1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 3Q14 4Q14
7
Agenda
Company Overview
2014 Key Financial Highlights
Business Update
8
Total Revenues and Net Profit
%YoY Growth 2010 2011 2012 2013 2014
Total Revenues 13% 19% 21% 8% 6%
Net Profit 26% 32% 25% 0% 0%
8,007 9,078
10,824
13,141 14,240
15,105
982 1,234 1,625 2,031 2,039 2,042
-
2,000
4,000
6,000
8,000
10,000
12,000
14,000
16,000
2009 2010 2011 2012 2013 2014
Total Revenues Net Profit
9
Gross Profit
Revenue Contribution
Revenues from Sales and Services
Revenues Growth
In 2014, revenues from sales & services grew 5% YoY due largely to the branch expansion and the price adjustment
THB Million
THB Million
3,389 3,599 3,503 3,479 3,373 3,677 3,746 3,841
13,969 14,637
1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 3Q14 4Q14 2013 2014
MK
83%
Yayoi
15%
Others
2%
2,273 2,394 2,354 2,321 2,236 2,376 2,448 2,557
9,342 9,616
67% 67% 67% 67% 66% 65% 65% 67% 67% 66%
0%
10%
20%
30%
40%
50%
60%
(1,000)
1,000
3,000
5,000
7,000
9,000
11,000
1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 3Q14 4Q14 2013 2014
+10% YoY
+3% YoY
+5% YoY
+10% YoY
10
SG&A
In 2014, SG&A increased 7% compared to the previous year primarily due to the rise of rent and the provision
expenses for Employee Stock Option Program
SG&A Expenses
2014 SG&A Expenses Breakdown
THB Million
1,689 1,828 1,770 1,778 1,777 1,990 1,911 1,872
7,066 7,549
49% 50% 50% 49% 51% 53% 50%
47% 50% 50%
0%
10%
20%
30%
40%
50%
-
1,000
2,000
3,000
4,000
5,000
6,000
7,000
8,000
9,000
10,000
1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 3Q14 4Q14 2013 2014
+7% YoY
+5% YoY
Personnel, 53%
Rental, 18%
Utilities, 8%
Others, 21%
11
Net Profit
THB Million
EBITDA
In 2014, EBITDA grew 5% YoY while Net Profit is quite the same compared to the previous year
751 749 810 835 749 688 850 1,011
3,146 3,297
22.0% 20.6% 22.6% 23.1%
21.4% 18.2%
22.0% 25.5%
22.1% 21.8%
0.0%
5.0%
10.0%
15.0%
20.0%
25.0%
- 500
1,000 1,500 2,000 2,500 3,000 3,500 4,000 4,500
1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 3Q14 4Q14 2013 2014
+21% YoY
THB Million
486 481 529 543 468 403 522 650
2,039 2,042
14.2% 13.2%
14.8% 15.0% 13.4%
10.6%
13.5%
16.4% 14.3%
13.5%
0.0%
2.0%
4.0%
6.0%
8.0%
10.0%
12.0%
14.0%
16.0%
-
500
1,000
1,500
2,000
2,500
3,000
1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 3Q14 4Q14 2013 2014
5% YoY
0% YoY
EBITDA & Net Profit
20% YoY
12
Current Ratio
D/E Ratio
Financial Ratio
Liquidity is at a comfortable level as well as strong capital base to support growth
ROA (%)
ROE (%)
2,482 2,222
12,524 12,681
0.20 0.18
-
0.05
0.10
0.15
0.20
-
5,000
10,000
15,000
20,000
31-Dec-13 31-Dec-14
Total Liabilities Shareholders's Equity D/E
2.2
4.7
31-Dec-13 31-Dec-14
20.3
13.7
31-Dec-13 31-Dec-14
29.1
16.2
31-Dec-13 31-Dec-14
13
Agenda
Company Overview
2014 Key Financial Highlights
Business Update
14
Continued expansion strategy with shopping complexes, modern trade stores and community malls covering
nationwide
Outlet Expansion Plan
Plan
No. of New
Outlets in 2015
No. of New
outlets opened
in 2014
29
17
9
MK Yayoi Others
30
20
12
MK Yayoi Others
15
Marketing Campaign – MK Japanese Festival
16
Marketing Campaign – MK J Festival & Christmas Bun
17
Marketing Campaign – MK New Year’s Gift Set
18
Marketing Campaign – Yayoi Promotion
19