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TRANSCRIPT
4Q2015 Presentation Results
March 2016
MK Restaurant
Group PCL (“M”)
Company
Presentation
Strictly Confidential
1
Agenda
Company Overview
4Q2015 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 413 300
MK Gold
6 520
Japanese Restaurant Yayoi
140 240
Miyazaki
22 280
Hakata
3 200
Thai Restaurant Na Siam
1 270
Le Siam
4 590
Coffee Shop & Bakery
Le Petit
3 160
Remark: Data as of Dec 2015
4
Leader in chained restaurant industry with nationwide branches coverage
Dominant Position in Chained Restaurant Industry
42 61 70 79 89
22
30
43 50
51
2011 2012 2013 2014 2015
Bangkok & Metropolitan area Provincial area
157 172 176 189 197
157 182 205
218 222
2011 2012 2013 2014 2015
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 52
Yayoi 12
South
MK & MK Gold 47
Yayoi 7
East
MK & MK Gold 46
Yayoi 12
BKK & Greater BKK
MK & MK Gold 197
Yayoi 89
Central
MK & MK Gold 37
Yayoi 11
Branches
Japan
MK 30
Japan
an
MK 4
Vietnam
an
MK 2 / Yayoi 6
Singapore
53%
47%
354 419
314
381
36%
64%
91
64
113
407
129 140
an
MK 1 / Miyazaki 1
Lao PDR
5
-9%
-6%
-1%
1%
0%
-4%
-12%
-8%
1Q14 2Q14 3Q14 4Q14 1Q15 2Q15 3Q15 4Q15
Same-Store Sales Growth
Negative Same-Store Sales Growth primarily due to the economic slowdown
-5%
-8% -10%
7%
3% 3%
-3%
-8%
1Q14 2Q14 3Q14 4Q14 1Q15 2Q15 3Q15 4Q15
6
Agenda
Company Overview
4Q2015 Key Financial Highlights
Business Update
7
Total Revenues and Net Profit
%YoY Growth 2010 2011 2012 2013 2014 2015
Total Revenues 13% 19% 21% 8% 6% 0%
Net Profit 26% 32% 25% 0% 0% -9%
9,078
10,824
13,141 14,139
14,957 14,923
1,234 1,625 2,031 2,039 2,042 1,856
2010 2011 2012 2013 2014 2015
Total Revenues Net Profit
8
Gross Profit
Revenue Contribution
Revenues from Sales and Services
Revenues Growth
In 2015, revenues from sales & services were almost flat compared to the prior year due largely to the weak of
purchasing power of consumers and severe competition in restaurant business.
MK
82%
THB Million
THB Million
MK
82%
Yayoi
16%
Others
2%
0% YoY
3,342 3,643 3,708 3,799 3,585 3,749 3,481 3,665
14,492 14,478
1Q14 2Q14 3Q14 4Q14 1Q15 2Q15 3Q15 4Q15 2014 2015
-4% YoY
2,212 2,350 2,419 2,526 2,367 2,471 2,261 2,435
9,507 9,534
66.2% 64.5% 65.2% 66.5% 66.0% 65.9% 65.0% 66.5% 65.6% 65.9%
0%
10%
20%
30%
40%
50%
60%
-
2,000
4,000
6,000
8,000
10,000
12,000
14,000
1Q14 2Q14 3Q14 4Q14 1Q15 2Q15 3Q15 4Q15 2014 2015
0% YoY
-4% YoY
9
SG&A
In 2015, SG&A increased 3% compared to the prior year primarily due to the increase of fixed expenses such
as rent, depreciation and amortization.
SG&A Expenses
2015 SG&A Expenses Breakdown
THB Million
1,750 1,962 1,876 1,839 1,880 1,942 1,908 1,929
7,428 7,660
51% 52%
49% 47%
51% 50% 53% 51% 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
1Q14 2Q14 3Q14 4Q14 1Q15 2Q15 3Q15 4Q15 2014 2015
+3% YoY
Personel, 52%
Rental, 18%
Utilities, 8%
Others, 22%
+5% YoY
10
Net Profit
THB Million
EBITDA
In 2015, EBITDA & Net Profit dropped 5% and 9% YoY respectively compared to the previous year
THB Million
EBITDA & Net Profit
747 689 847 1,008 800 847 664 829
3,290 3,139
22% 18%
22% 26%
22% 22% 19%
22% 22% 21%
0%
5%
10%
15%
20%
25%
-
1,000
2,000
3,000
4,000
5,000
1Q14 2Q14 3Q14 4Q14 1Q15 2Q15 3Q15 4Q15 2014 2015
-18% YoY
-5% YoY
468 403 522 650 480 516 365 495
2,042 1,856
13.5%
10.7%
13.7%
16.6%
13.0% 13.4%
10.2%
13.1% 13.7%
12.4%
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
3,500
4,000
1Q14 2Q14 3Q14 4Q14 1Q15 2Q15 3Q15 4Q15 2014 2015
-9% YoY
-24% YoY
11
Current Ratio
D/E Ratio
Financial Ratio
Liquidity is at a comfortable level as well as strong capital base to support growth
ROA (%)
ROE (%)
2,198 2,124
12,681 12,998
0.17 0.16
-
0.05
0.10
0.15
-
5,000
10,000
15,000
20,000
31-Dec-14 31-Dec-15
Total Liabilities Shareholders's Equity D/E
4.7 5.2
31-Dec-14 31-Dec-15
13.7% 12.4%
31-Dec-14 31-Dec-15
16.2% 14.5%
31-Dec-14 31-Dec-15
12
Agenda
Company Overview
4Q2015 Key Financial Highlights
Business Update
13
Notable Events in 2015
March 26, 2015
March 27, 2015
June 17, 2015
August 11, 2015
November 27, 2015
December 16, 2015
December 24, 2015
Master Franchise Agreement Signing Ceremony between MK
Restaurant Group Public Company Limited and Premium Food
Company Limited (Lao PDR)
Launched Community Food Mall “London Street” including 5
brands: MK, Yayoi, Miyazaki, Le Siam & Le Petit
Awarded “Best Public Company of the Year 2015” – Agriculture
and Food Industry from “Money & Banking Magazine”
Set up “International Food Supply Co.,Ltd.” with registered share
capital of Baht 100 million being engaged in the manufacture and
distribution of food.
Awarded “ASEAN Excellent Enterprise & Businessman” and
“ASEAN Admired Brand” from Vietnam Quality Association of Ho
Chi Minh City.
Opened the first MK Restaurant and Miyazaki Teppanyaki in
Vientiane, Laos.
Opened the fourth MK Restaurant in Vietnam.
14
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 2015
4
3
5
3
1 1
4 4 4
5
4
3
MK Yayoi Others
1Q15 2Q15 3Q15 4Q15
20
25
5
MK Yayoi Others
Total 41 branches
15
2015 Marketing Campaign – MK Suki
16
2015 Marketing Campaign – MK Suki
17
2015 Marketing Campaign – Yayoi
18
2015 Marketing Campaign – Yayoi
19