MINOR INTERNATIONAL PCL. COMPANY PROFILE Information as at 3Q12

Transcription

1 MINOR INTERNATIONAL PCL. COMPANY PROFILE Information as at 3Q12

2 VISION To be A Leading Hospitality and Leisure Operator, Restaurant Operator and Lifestyle Brand Retailer through the delivery of branded products and services that provide 100% satisfaction to all stakeholders Customer Focus Result Oriented People Development Innovative Partnership 2

3 HISTORY KEY MILESTONES Launched Avani brand Founded RGR RGR, MFG and MINOR listed on the SET Launched Anantara brand Acquired 50% stake of The Coffee Club Completed group business restructuring; Delisted MINOR Acquired 100% stake of Oaks Acquired 95% stake of Bundarika Founded MFG MFG launched The Pizza Company brand M&A between RGR and MFG and became MINT Acquired 70% stake of Thai Express Acquired 80% stake of Kani Lanka Acquired 80% Acquired Ribs stake of & Rumps Paradise Island Acquired 50% stake of Elewana Afrika Launched Anantara Vacation Club Increased stake in S&P to 31% Acquired the remaining 30% stake in Thai Express 3

4 MINT CONSISTENT GROWTH Total Revenue THB Million 20,000 15,000 10,000 5,000 Total Assets THB Million 50,000 40,000 30,000 20,000 10,000 Market Cap THB Million 50,000 40,000 30,000 20,000 10,

5 MINT TODAY HOTEL & MIXED USE Hotel Owned Hotel and Serviced Suites Management Spa Plaza & Entertainment Residential Development PointBased Vacation Club FOOD Quick Service Restaurant Owned Cheese & IceCream Manufacturing Shared Services 5

6 REVENUE & PROFIT CONTRIBUTION BY BUSINESS GROUPS 2011 Revenue Contribution Others 11% 2011 EBITDA Contribution 2011 NPAT Contribution Others 6% Restaurant 43% Restaurant 36% Restaurant 43% Hotel & Mixed use 46% Hotel & Mixed use 64% Hotel & Mixed use 63% 5Y AVG Revenue Contribution 5Y AVG EBITDA Contribution 5Y AVG NPAT Contribution Others 7% Restaurant 51% Others 1% Restaurant 36% Restaurant 35% Hotel & Mixed use 42% Hotel & Mixed use 63% Hotel & Mixed use 65% Note: * Excludes onetime gain from fair value adjustment on investment in S&P of THB 1,054 million in

7 MINT S INTERNATIONAL PRESENCE ENHANCE PROFILE, REPUTATION & RECOGNITION INTERNATIONALLY WITH 60 HOTELS AND SERVICED SUITES, 430 RESTAURANT OUTLETS AND 23 SPAS IN 22 COUNTRIES OUTSIDE OF THAILAND Bahrain China Jordan Saudi Arabia Egypt UAE Korea Laos Cambodia Philippines India Vietnam Kenya Australia Tanzania New Caledonia Maldives Sri Lanka Malaysia Indonesia Singapore New Zealand 7

8 HOTEL & MIXED USE To be The Preferred Hotel Partner creating substantial value to all stakeholders 8

9 MLR* Purely Managed Joint Venture MajorityOwned HOTEL PORTFOLIO Thailand Outside Thailand 5 Anantara 4 Four Seasons 1 JW Marriott 1 Marriott 1 St. Regis 1 Bundarika 1 Anantara (Maldives) 1 Avani (Sri Lanka) 2 Anantara (Maldives) 1 Naladhu (Maldives) 6 under Elewana (Africa) 1 Harbour View (Vietnam) 1 Avani & 2 Serendib Leisure (Sri Lanka) 5 Anantara 1 Oaks 7 Anantara (2 Bali, 1 Vietnam, 1 China & 3 UAE) 39 Oaks (34 Australia, 4 New Zealand & 1 Dubai) * MLR is Management Letting Rights (Management of Serviced Suites) Note: As at November

10 HOTEL PORTFOLIO 80 PROPERTIES WITH 10,082 ROOMS IN 11 COUNTRIES Hotel Name Country No. of Rooms Anantara Bangkok Riverside Thailand 407 Anantara Hua Hin Thailand 187 Anantara Golden Triangle Thailand 77 Anantara Bophut Koh Samui Thailand 106 Anantara Phuket Thailand 83 Anantara Kihavah Maldives 78 Four Seasons Bangkok Thailand 354 Four Seasons Chiang Mai Thailand 76 Four Seasons Tented Camp Chiang Rai Thailand 15 Four Seasons Koh Samui Thailand 60 JW Marriott Phuket Thailand 265 Pattaya Marriott Thailand 298 Bundarika Villas & Suites Thailand 77 St. Regis Hotel & Residence Thailand 224 Avani Kalutara Sri Lanka 105 Majority Owned 15 2,412 Australia 4,671 Oaks Hotels & Resort New Zealand 423 Dubai 165 Management Letting Rights 39 5,259 Note: As at November 2012 Hotel Name Country No. of Rooms Anantara Veli Maldives 50 Anantara Dhigu Maldives 110 Naladhu Resort Maldives 19 Harbour View Hotel Vietnam 122 Avani Bentota Sri Lanka 90 Club Hotel Dolphin Sri Lanka 146 Hotel Sigiriya Sri Lanka 79 Arusha Coffee Lodge Tanzania 18 Serengeti Migration Camp Tanzania 20 Tarangire Tree Top Tanzania 20 The Manor at Ngorongoro Tanzania 20 Kilindi Tanzania 19 AfroChic Retreat Kenya 20 Joint Venture Anantara Sikao, Krabi Thailand 139 Anantara Baan Rajprasong Thailand 97 Anantara Lawana, Koh Samui Thailand 122 Anantara Sathorn Thailand 321 Anantara Rasananda Thailand 44 Anantara Seminyak, Bali Indonesia 60 Anantara Bali Uluwatu, Bali Indonesia 77 Desert Islands by Anantara UAE 64 Qasr Al Sarab Desert by Anantara UAE 206 Eastern Mangroves by Anantara UAE 222 Anantara Mui Ne Vietnam 89 Anantara Sanya China 122 Oaks Sathorn Thailand 115 Purely Managed 13 1,678 10

11 EXPANDING THE FOOTPRINT OF ANANTARA Indigenous Luxurious Gracious 11

12 INTRODUCING A NEW, UPSCALE BRAND AVANI HOTELS & RESORTS AVANI is a response to an increasingly influential group of discerning travellers: those who appreciate good design and demand excellent service, but who also appreciate value for money. 12

13 OAKS HOTELS & RESORTS Oaks is one of the largest hotel and resort operators in Australia, with 40 properties, over 5,000 rooms under management throughout Australia, New Zealand, Thailand and Dubai. Broome Oaks Broome Oaks Cable Beach Port Douglas Oaks Lagoons Townsville Oaks Gateway on Palmer Oaks M on Palmer Australia Adelaide Oaks Embassy Oaks Horizons Oaks Precinct Glenelg Oaks Liberty Towers Oaks Plaza Pier Ipswich Oaks Aspire Apartments Melbourne Oaks on Collins Oaks on Lonsdale Oaks on Market Sunshine Coast Oaks Seaforth Resort Redcliffe Oaks Mon Komo Goldcoast Oaks Calypso Plaza Port Stephens Oaks Pacific Blues Oaks Lure The Entrance Oaks Waterfront Resort Sydney Oaks Goldsbrough Apartments Oaks Harmony Oaks Hyde Park Plaza Oaks Maestri Towers Oaks Trafalgar Queenstown Oaks Club Resort Oaks Shores Brisbane istay River City Oaks 212 Margaret Oaks Aurora Oaks Casino Towers Oaks Charlotte Towers Oaks Felix Oaks Festival Towers Oaks Lexicon Apartments Auckland Oaks istay Residences Christchurch Oaks istay on Cashel New Zealand Dubai Dubai Oaks Liwal Heights Thailand Bangkok Oaks Sathorn 13

14 HOTEL KEY STATISTICS 2011 Revenue Breakdown by Brands * Share Profit, 1% Others, 3% Management fee, 4% Marriott, 26% Average Occupancy Rate 80% 72% 65% 60% 52% 52% 65% Oaks, 30% 40% 20% Anantara, 16% *Audited revenue Four Seasons, 20% 0% ADR RevPar THB 8,000 6,000 4,000 5,454 6,339 5,880 5,695 5,385 THB 5,000 4,000 3,000 3,951 4,142 3,076 2,976 3,497 2,000 2,000 1,000 14

15 PLAZA & ENTERTAINMENT MINT owns and operates three shopping plazas Royal Garden Plaza Bangkok & Pattaya Turtle Village Phuket MINT also operates six entertainment outlets 15

16 SPA PORTFOLIO 3Q12 Spa portfolio consists of 34 spas in 9 countries Country Hotel THAILAND Anantara Phuket THAILAND Anantara Golden Triangle THAILAND Anantara Hua Hin THAILAND Anantara Koh Samui THAILAND Anantara Lawana, Samui THAILAND Anantara Riverside THAILAND Anantara Sikao THAILAND Four Seasons Hotel Bangkok THAILAND JW Marriott Phuket Resort & Spa THAILAND Pattaya Marriott Resort & Spa THAILAND Sheraton Krabi Beach Resort THAILAND The Royal Orchid Sheraton Hotel Bangkok THAILAND The St. Regis Bangkok Hotel THAILAND Anatara Rasananda CHINA Commune by the Great Wall Kempinski Beijing CHINA JW Marriott Hotel Shanghai CHINA Marco Polo Shenzen CHINA Pullman Lijiang Resort & Spa CHINA Renaissance Shanghai Putuo Hotel CHINA Sheraton Sanya Resort CHINA The Puli Hotel & Spa Egypt JW Marriott Cario INDIA The Radisson Resort and Spa Alibaug JORDAN Kempinski Ishtar Dead Sea Jordan (Phase I) Korea Sheraton Seoul D Cube City MALDIVES Anantara Dighu MALDIVES Anantara Khihava MALDIVES Anantara Veli MALDIVES Naladhu* TANZANIA Kempinski Kilimanjaro Dar es Salaam Tanzania TANZANIA Zamani Kempinski Resort Zanzibar UAE Desert Island by Anantara UAE Qasr Al Sarab Desert by Anantara UAE The Emirates Palace Hotel 16

17 ANANTARA VACATION CLUB Following the success of Marriott Vacation Club and to leverage on the strength of the Anantara brand, MINT introduced Anantara Vacation Club (pointbased vacation club project) in December 2010, with inventory in Samui, Phuket, Bangkok, Bali and Queenstown. Additional destinations will be added to the inventory over the years. 17

18 RESIDENTIAL PROPERTY DEVELOPMENT 53 residences & penthouses on top of 224 hotel rooms in a 47 storey building on Rajdamri 14 luxury villas adjacent to Four Seasons Koh Samui 18

19 FINANCIAL PERFORMANCE HOTEL AND MIXED USE THB Million 12,657 Revenue 7,137 7,640 5,784 5,870 EBITDA 2,743 3,085 2,030 1,735 3,313 EBITDA Margin 38.4% 40.4% 35.1% 29.6% 26.2% NPAT 1,261 1, ,158 Net Margin 17.7% 20.0% 12.9% 8.3% 9.1% 19

20 RESTAURANT To be A Global Integrated Operator of Multiple Food Brands with the objective of providing 100% satisfaction to all stakeholders 20

21 21 Thailand MajorityOwned International # of Outlets Total , QUICK SERVICE RESTAURANT PORTFOLIO 3Q12

22 CHEESE & ICECREAM MANUFACTURING Two manufacturing plants producing over 20,000 tons of cheese and icecream per annum 22

23 RESTAURANT KEY STATISTICS 2011 Revenue Breakdown by Brands* Thai Express, 19% The Coffee Club, 2% Burger King, 5% * Audited revenue Dairy Queen, 9% Others, 8% SameStore Sales Growth Sizzler, 16% The Pizza Company, 27% Swensen's, 14% Number of outlets 1,400 1,257 1,200 1,112 1,147 1,043 1, Total System Sales Growth 10.0% 9.0% 25.0% 20.0% 17.8% 5.0% 0.0% 0.2% 3.1% 3.7% 15.0% 10.0% 5.0% 10.5% 11.9% 9.8% 14.1% 5.0% 2.7% 0.0% 23

24 FINANCIAL PERFORMANCE RESTAURANT THB Million 8,875 10,081 10,540 11,697 6,892 Revenue 1,641 1,746 1,830 EBITDA 1,016 1,226 EBITDA Margin 14.7% 13.8% 16.3% 16.6% 15.6%* NPAT Net Margin 5.1% 4.1% 5.7% 7.0% 6.7%* * Excluding impairment of investment in China of THB 93 million, 2011 EBITDA margin and NPAT margin would be 16.4% and 7.4%, respectively

25 OTHERS RETAIL TRADING PORTFOLIO 3Q12 To be A Leading Branded Lifestyle Operator in South East Asia creating substantial value with the objective of providing 100% satisfaction to all stakeholders Fashion Apparel Cosmetics Household # Outlets # Outlets # Outlets 13 Total 13 Total Total 30 Online Shopping Contract Manufacturing Manufacturing acidbased fastmoving consumer goods 100K Tons/ Year 25

26 STATISTICS & FINANCIAL PERFORMANCE RETAIL TRADING & CONTRACT MANUFACTURING SameStore Sales Growth 20.0% 14.4% 15.0% THB Million 3,086 3,082 2,631 2,680 2, % 5.5% Revenue 0.0% 10.0% % 16.5% Total Store Sales Growth 20.0% 16.8% 19.0% 9.0% 10.0% 0.0% EBITDA EBITDA Margin NPAT % 2.7% 6.8% 5.7% % 10.0% 20.0% 17.0% Net Margin 3.5% 2.5% 3.7% 1.7% %

27 MINOR INTERNATIONAL FINANCIAL HIGHLIGHTS 27

28 RESILIENCY OF THAILAND vs. MINT S RESPONSIVE STRATEGIES SINCE 2000, THAILAND HAS GONE THROUGH SEVERAL CHALLENGES, DRIVEN BY BOTH DOMESTIC AND GLOBAL FACTORS. HOWEVER, PRIVATE CONSUMPTION AND TOURIST ARRIVAL SAW POSITIVE GROWTH IN MOST YEARS. FOR SOME OF THE YEARS WITH NEGATIVE GROWTH, STRONG AND RAPID REBOUND WAS SEEN WITHIN A YEAR. DIVERSIFICATION GEOGRAPHICALLY AND NEW INITIATIVES INCLUDING MIXEDUSE DEVELOPMENT HAVE ALSO HELPED MINT MITIGATE THE RISKS AND THE COMPANY HAS ALL ALONG REPORTED PROFIT Acquired Minor Food Group Launched own Pizza brand, The Pizza Company Entered into a JV to operate 3 hotels in the Maldives Launched the first timeshare project in Asia with Marriott Opened TPC and SZ in China Launched the first residential project, the Estates Samui Invested in S&P Thailand, Serendib Sri Lanka, Elewana Africa, The Coffee Club Australia and Thai Express Singapore Opened the first two purely managed hotels in Bali and Abu Dhabi Acquired Minor Corporation Opened TPC & SW franchised outlets in South East Asia and India Invested in Kani Lanka Sri Lanka, Oaks Hotels & Resorts and Ribs and Rumps Australia Launched Anantara Vacation Club, pointbased timeshare project, and the second residential project, St. Regis Residence 30% 4,000 15% SARS Tsunami Bangkok Coup Subprime Crisis Airport Closure Pattaya Riot Rajprasong Riot Flooding 3,000 2,000 1,000 0% (1,000) MINT's NPAT % Change in Private Consumption % Change in Tourist Arrival 15% (2,000) Source: Office of The National Economic and Social Development Board and Bank of Thailand MINT s Diversification Strategy 28

29 MINT FINANCIAL HIGHLIGHTS SIZE Total Revenue Net Profit THB Million THB Million 30,000 28,332 3,000 2,880 20,000 14,029 16,515 17,244 19,089 2,500 2,000 1,500 1,611 1,892 1,400 1,236 10,000 1, Total Assets Total THB Million 50,000 40,000 30,000 20,000 10,000 21,280 25,064 28,271 32,799 40,865 THB Million 15,000 10,000 5,000 9,708 12,403 12,054 13,756 14,935 29

30 MINT FINANCIAL HIGHLIGHTS PROFITABILITY EBITDA Margins Net Margin 30.0% 26.8% 26.1% 15.0% 20.0% 22.0% 19.0% 20.0% 10.0% 11.5% 11.5% 8.1% 6.5% 10.2% 10.0% 5.0% 0.0% 0.0% *Excludes gain from reclassification of investment in S&P and provision for investment in China, 2011 EBITDA and net margins would be 19.2% and 6.4% Return on Assets Return on 10.0% 8.0% 8.3% 8.2% 7.8% 25.0% 20.0% 18.1% 17.2% 20.1% 6.0% 4.0% 5.3% 4.1% 15.0% 10.0% 11.5% 9.6% 2.0% 5.0% 0.0% 0.0% *Excludes gain from reclassification of investment in S&P and provision for investment in China, 2011 ROA and ROE would be 5.2% and 13.4% 30

31 MINT FINANCIAL HIGHLIGHTS OTHERS InterestBearing D/E x Interest Coverage x Current Ratio x Dividend Per Share and Payout Ratio THB 0.40 Cash Stock Payout Ratio 55.4% % 44.8% * 39.5% % % 60% 40% * 2011 EPS excludes gain from reclassification of investment in S&P 20% 0% 31

32 OTHER CORPORATE INFORMATION 32

33 SHAREHOLDERS & MANAGEMENT Shareholding Structure Management Shareholders Return THB Thai Fund 9% As of 8 October 2012 The King 6% Others 11% Osathanugrah Group 9% Foreign Fund 31% Minor Group 34% 1. William E. Heinecke Chairman and Group Chief Executive Officer 2. Paul Charles Kenny Chief Executive Officer of Minor Food Group 3. Dillip Rajakarier Chief Executive Officer of Minor Hotel Group 4. Patamawalai Ratanapol Chief Executive Officer of Minor Corporation and Group Chief People Officer 5. Trithip Sivakriskul Corporate Chief Financial Officer 6. John Scott Heinecke Vice President of Minor Food Group Investment Dividend Warrants Capital Gain YTD Value 33

34 CORPORATE SOCIAL RESPONSIBILITIES 1. Driving people development One of MINT s philosophies has long been that people are the greatest assets not only to the company, but to their families and the communities surrounding them. 2. Engaging in endtoend customer experience Customers experience with MINT s products and services is fundamental to the company s sustainability. The company is committed to ensure it delivers the best products to its customers in a socially responsible manner, whether it is in the form of product quality and safety or responsible media. 3. Committing to longterm & sustainable partnerships One of MINT s core values is partnership and the company strives to develop winwin relationships with its partners, whether they are our suppliers, joint venture partners, owners, principals, franchisees or third party service providers. 4. Managing environmental impacts MINT cares deeply about the community and the environment. The company continuously contributes to animal and wildlife conservation in ecosystems where it operates. 5. Fostering social responsible mindset Sustainability cannot be achieved without being socially responsible. MINT promotes social responsibility and volunteer spirits among employees and stakeholders through its business operations and through various campaigns & activities. 34

35 RECENT AWARDS Four Seasons Chiang Mai is one of the World s 50 best hotels in 2011 by Travel & Leisure Anantara Golden Triangle won Thailand's leading resort from World Travel Awards 2011 Overall Performance & Corporate One of the 2012 Southeast Asia Challengers by the Boston Consulting Group Corporate Governance Asia Recognition Awards Class of 2012 The Best of Asia from Corporate Governance Asia Magazine Top 10 Best Managed Company and Investor Relations for Thailand by FinanceAsia, June 2011 AMCHAM Corporate Social Responsibility Excellence Recognition in 2011 by The American Chamber of Commerce in Thailand 2011 Asia s Best Brand Award by CMO Asia Hotel Travel & Leisure World s Best Hotels 2011 o Four Seasons, Chiang Mai Conde Nast s Gold List 2011 o Four Seasons Tented Camp, Chiang Rai o Four Seasons Chiang Mai 18th World Travel Awards 2011 o Four Seasons Koh Samui o Anantara Golden Triangle International Property Awards 2011 o The Residences at The St. Regis Bangkok Restaurant Swensen s (Thai) Limited and Sizzler (SLRT Limited) Best Employers in Thailand 2011 in the Hospitality/Restaurants Industry by Aon Hewitt The Coffee Club The Best Cafe in Australia by the Australian Financial Review s Smart Investor Magazine 2010 Minor Food Group has been chosen as an inductee into the 2010 Palladium Balanced Scorecard Hall of Fame for Executing Strategy 35