MK Restaurant Group PCL (“M”) - listed...
Transcript of MK Restaurant Group PCL (“M”) - listed...
2Q2016 Presentation Results
August 2016
MK Restaurant Group PCL (“M”)
Company
Presentation
1
Agenda
Company Overview
2Q2016 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”
Food manufacturer &
Distributor
Registered Capital: 100
MB
International Food
Supply Co.,Ltd.
“IFS”
100%
3
Restaurant Outlets in Thailand
Type of Business Restaurants Brand No. of Outlets Average Spending (THB)
Suki Restaurant MK 412 300
MK Gold
6 500
Japanese Restaurant Yayoi
148 240
Miyazaki
23 300
Hakata
3 210
Thai Restaurant Na Siam
1 260
Le Siam
4 600
Coffee Shop & Bakery
Le Petit
3 160
Remark: Data as of Jun 2016
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Leader in chained restaurant industry with nationwide branches coverage
Dominant Position in Chained Restaurant Industry
61 70 79 89 95
30 43
50 51 53
2012 2013 2014 2015 2Q16
Bangkok & Metropolitan area Provincial area
172 176 189 197 199
182 205 218 222 219
2012 2013 2014 2015 2Q16
Bangkok & Metropolitan area Provincial area
Extensive Coverage Nationwide
North
MK & MK Gold 22
Yayoi 5
West
MK & MK Gold 18
Yayoi 4
North East
MK & MK Gold 50
Yayoi 12
South
MK & MK Gold 47
Yayoi 8
East
MK & MK Gold 44
Yayoi 12
BKK & Greater BKK
MK & MK Gold 199
Yayoi 95
Central
MK & MK Gold 38
Yayoi 12
Branches
Japan
MK 31
Japan
an
MK 4
Vietnam
an
MK 2 / Yayoi 7
Singapore
52%
48%
354
419 418 381
36%
64%
91
148
113
407
129 140
an
MK 1 / Miyazaki 1
Lao PDR
5
-9%
-6%
-1%
1%
0%
-4%
-12%
-8%
-5%
3%
1Q14 2Q14 3Q14 4Q14 1Q15 2Q15 3Q15 4Q15 1Q16 2Q16
Same-Store Sales Growth
Negative Same-Store Sales Growth primarily due to the economic slowdown
-5%
-8% -10%
7%
3% 3%
-3%
-8%
-1%
5%
1Q14 2Q14 3Q14 4Q14 1Q15 2Q15 3Q15 4Q15 1Q16 2Q16
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Agenda
Company Overview
2Q2016 Key Financial Highlights
Business Update
7
10,824
13,141 14,139
14,957 14,923
7,563 7,821
1,625 2,031 2,039 2,042 1,856 996 1,052
-
2,000
4,000
6,000
8,000
10,000
12,000
14,000
16,000
2011 2012 2013 2014 2015 1H15 1H16
Total Revenues Net Profit
Total Revenues and Net Profit
%YoY Growth 2011 2012 2013 2014 2015 1H16
Total Revenues 19% 21% 8% 6% 0% 3%
Net Profit 32% 25% 0% 0% -9% 6%
8
Gross Profit
Revenue Contribution
Revenues from Sales and Services
Revenues Growth
In 2Q2016, revenues from sales & services grew up 8% compared to the prior year due largely to the tax
deduction campaign during Songkran holidays.
THB Million
THB Million
3,585 3,749 3,590 4,038
7,333 7,628
1Q15 2Q15 1Q16 2Q16 1H15 1H16
+8% YoY
+4% YoY
2,367 2,471 2,415 2,713
4,838 5,127
66.0% 65.9% 67.3% 67.2% 66.0% 67.2%
0.0%
10.0%
20.0%
30.0%
40.0%
50.0%
60.0%
70.0%
-
1,000
2,000
3,000
4,000
5,000
6,000
7,000
1Q15 2Q15 1Q16 2Q16 1H15 1H16
+10% YoY
MK, 80%
Yayoi, 18%
Others, 2%
+6% YoY
9
SG&A
In 2Q2016, SG&A increased 6% compared to the prior year primarily due to the expenses from branch
expansion.
SG&A Expenses
1H16 SG&A Expenses Breakdown
THB Million
1,880 1,942 1,963 2,049
3,822 4,012
50.8% 50.3% 53.3%
49.6% 50.5% 51.3%
0.0%
10.0%
20.0%
30.0%
40.0%
50.0%
-
1,000
2,000
3,000
4,000
5,000
6,000
1Q15 2Q15 1Q16 2Q16 1H15 1H16
+5% YoY
+6% YoY Personel, 52%
Rental, 19%
Utilities, 7%
Others, 22%
10
Net Profit
THB Million
EBITDA
In 2Q2016, EBITDA & Net Profit grew 15% and 19% YoY respectively compared to the previous year
THB Million
EBITDA & Net Profit
800 847 760 976
1,646 1,736
21.6% 21.9% 20.6%
23.6% 21.8% 22.2%
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
1Q15 2Q15 1Q16 2Q16 1H15 1H16
+5% YoY
+15% YoY
480 516 438 613
996 1,052
13.0% 13.4% 11.9%
14.8%
13.2% 13.4%
0.0%
2.0%
4.0%
6.0%
8.0%
10.0%
12.0%
14.0%
-
200
400
600
800
1,000
1,200
1,400
1,600
1,800
2,000
1Q15 2Q15 1Q16 2Q16 1H15 1H16
+19% YoY
+6% YoY
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Current Ratio
D/E Ratio
Financial Ratio
Liquidity is at a comfortable level as well as strong capital base to support growth
ROA (%)
ROE (%)
2,124 1,883
12,998 13,197
0.16
0.14
-
0.05
0.10
0.15
(3,000)
2,000
7,000
12,000
17,000
22,000
31-Dec-15 30-Jun-16
Total Liabilities Shareholders's Equity D/E
5.2
6.2
31-Dec-15 30-Jun-16
12.4% 12.8%
31-Dec-15 30-Jun-16
14.5% 14.7%
31-Dec-15 30-Jun-16
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Agenda
Company Overview
2Q2016 Key Financial Highlights
Business Update
13
Notable Events
May 17, 2016 Awarded “No.1 Brand Thailand 2015-2016” in Restaurant category from
“Marketeer Magazine”
June 17, 2016 Signed Memorandum of Outstanding (MOU) with National Food Institute, Ministry
of Industry for project “MK Healthy, No MSG Safety Food”
July 1, 2016 Open 5th MK Branch in Ho Chi Minh City, Vietnam
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Continued expansion strategy with shopping complexes, modern trade stores and community malls covering
nationwide
Outlet Expansion Plan
Plan
No. of New
Outlets in 2016
No. of New
outlets opened
in 1H2016
13
19
4
MK Yayoi Others
4
8
1
MK Yayoi Others
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Marketing Campaign – MK Suki
16
Marketing Campaign – MK Suki
17
Marketing Campaign – Yayoi
Yayoi 10th Anniversary Event
18
Marketing Campaign – Yayoi
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