3Q2018 Presentation Results
November 2018
MK Restaurant Group PCL (“M”)
Company
Presentation
1
Agenda
Company Overview
3Q2018 Key Financial Highlights
Business Update
2
Business Structure
MK Restaurant Group Public Company Limited (M)
Plenus & MK Pte. Ltd.
Plenus MK Co.,Ltd.
MK InterfoodCo.,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:
1,300 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
3
Restaurant Outlets in Thailand
Type of Business Restaurants Brand No. of Outlets
Suki RestaurantMK 431
MK Gold 6
MK Live 3
Japanese RestaurantYayoi 178
Miyazaki 26
Hakata 4
Thai RestaurantNa Siam 1
Le Siam 3
OthersLe Petit 3
Bizzy Box 2
Harvest 1
Remark: Data as of Sep 2018
4
Leader in chained restaurant industry with nationwide branches coverage
Dominant Position in Chained Restaurant Industry
79 89 99 97 104
5051
59 6874
2014 2015 2016 2017 3Q2018
Bangkok & Metropolitan area Provincial area
189 197 199 200 202
218 222 225 235 238
2014 2015 2016 2017 3Q2018
Bangkok & Metropolitan area Provincial area
Extensive Coverage Nationwide
North
MK & MK Gold 23
Yayoi 5
West
MK & MK Gold 19
Yayoi 8
North East
MK & MK Gold 58
Yayoi 16
South
MK & MK Gold 49
Yayoi 12
East
MK & MK Gold 47
Yayoi 19
BKK & Greater BKK
MK & MK Gold 202
Yayoi 104
Central
MK & MK Gold 42
Yayoi 14
Branches
Japan
MK 34
Japan
an
MK 7
Vietnam
an
Yayoi 8
Singapore
54%
46%
419 424 440
42%
58%
158178
407
129140
an
MK 1 / Miyazaki 1
Lao PDR
435
165
Yayoi 1
Malaysia
5
2%
-3%
3%3%
0%
0% 1%1%
1Q17 2Q17 3Q17 1Q18 2Q18 3Q18 9M17 9M18
Same-Store Sales Growth
In 3Q2018, same-store sales growth for MK and Yayoi were 0% and -4% respectively compared to the previous year.
1%
-1%
8%
3%
1%
-4%
3%
0%
1Q17 2Q17 3Q17 1Q18 2Q18 3Q18 9M17 9M18
6
Agenda
Company Overview
3Q2018 Key Financial Highlights
Business Update
7
14,139 14,957 14,923 15,498
16,458
12,228 12,848
2,039 2,042 1,856 2,100 2,425 1,879 1,967
2013 2014 2015 2016 2017 9M17 9M18
Total Revenues Net Profit
Total Revenues and Net Profit
%YoY Growth 2013 2014 2015 2016 2017 9M2018
Total Revenues 8% 6% 0% 4% 6% 5%
Net Profit 0% 0% -9% 13% 15% 5%
Million Baht
8
Gross Profit
Revenue ContributionRevenues from Sales and Services
Revenues Growth
In 3Q2018, revenues from sales & services grew up 4% compared to the prior year due primarily to the new
branch expansion.
THB Million
THB Million
MK, 79%
Yayoi, 19%
Others, 2%
3,805 4,106 4,033 4,049 4,249 4,177
11,944 12,475
1Q17 2Q17 3Q17 1Q18 2Q18 3Q17 9M17 9M18
+4% YoY
+4% YoY
2,572 2,798 2,738 2,773 2,911 2,859
8,109 8,542
67.6% 68.2% 67.9% 68.5% 68.5% 68.4% 67.9% 68.5%
0.0%
10.0%
20.0%
30.0%
40.0%
50.0%
60.0%
-
2,000
4,000
6,000
8,000
10,000
12,000
14,000
1Q17 2Q17 3Q17 1Q18 2Q18 3Q17 9M17 9M18
+4% YoY
+5% YoY
9
SG&A
In 3Q2018, SG&A increased 6% YoY compared to the prior year primarily due to the increase of salaries and
wages, marketing expenses and rent.
SG&A Expenses
9M2018 SG&A Expenses Breakdown
THB Million
1,960 2,074 2,039 2,114 2,233 2,168
6,073 6,516
50% 49% 49% 51% 51% 50% 50% 51%
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
1Q17 2Q17 3Q17 1Q18 2Q18 3Q17 9M17 9M18
+7% YoY
+6% YoYPersonel,
52%
Rental, 19%
Utilities, 7%
Depreciation, 7%
Others, 15%
10
Net Profit
THB Million
EBITDA
In 3Q2018, EBITDA & Net Profit grew 1% and 4% YoY respectively compared to the previous year
THB Million
EBITDA & Net Profit
910 1,044 1,008 982 1,014 1,021
2,961 3,017
23.4% 24.8% 24.4% 23.6% 23.1% 23.7% 24.2% 23.5%
0%
5%
10%
15%
20%
25%
-
1,000
2,000
3,000
4,000
5,000
6,000
1Q17 2Q17 3Q17 1Q18 2Q18 3Q17 9M17 9M18
1% YoY
+2% YoY
553 675 651 632 659 676
1,879 1,967
14.2%16.0% 15.8% 15.2% 15.1% 15.7% 15.4% 15.3%
0%
2%
4%
6%
8%
10%
12%
14%
16%
-
500
1,000
1,500
2,000
2,500
3,000
3,500
4,000
1Q17 2Q17 3Q17 1Q18 2Q18 3Q17 9M17 9M18
4% YoY
+5% 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 (%)
2,454 2,449
13,829 13,582
0.18 0.18
- 0.02 0.04 0.06 0.08 0.10 0.12 0.14 0.16 0.18 0.20
- 2,000 4,000 6,000 8,000
10,000 12,000 14,000 16,000 18,000 20,000
31-Dec-17 30-Sep-18
Total Liabilities Shareholders's Equity D/E
5.0 4.6
31-Dec-17 30-Sep-18
15.2% 16.0%
31-Dec-17 30-Sep-18
17.8% 18.7%
31-Dec-17 30-Sep-18
12
Agenda
Company Overview
3Q2018 Key Financial Highlights
Business Update
13
Continued expansion strategy with shopping complexes, modern trade stores and community malls covering
nationwide
Outlet Expansion Plan
No. of New
outlets opened
in 9M2018
Plan
No. of New
outlets in 2018
10
13
4
MK Yayoi Others
20 20
7
MK Yayoi Others
14
Marketing Campaign in 3Q2018 – MK
15
Marketing Campaign in 3Q2018 – MK
16
Marketing Campaign in 3Q2018 – Yayoi
17
Marketing Campaign in 3Q2018 – Yayoi
18
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