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Company
Presentation
FY2013
Presentation Results
March, 2014
1
Copyright 2013 MK Restaurant Group Public Company Limited. All rights reserved. Any unauthorized use or disclosure is prohibited. The information
contained in our presentation is intended for general information purpose only. The information herein was obtained from various sources and is subject to
change without notice. We do not guarantee its accuracy or completeness.
Neither the information nor any opinion expressed constitutes an offer, or an invitation to make an offer, to buy or sell any securities or any options, futures
or other derivatives related to such securities.
In addition, this presentation includes statements of future expectations, projections or other forward-looking statements, which reflect our current views
with respect to future events and are not a guarantee of future performance. A number of important factors, risks and uncertainties could cause actual
results or outcomes to differ materially from those expressed in any forward-looking statement. Investors should seek financial advice regarding the
appropriateness of investing in any securities or investment strategies discussed in this presentation and should understand that statements regarding
future prospects may not be realized. Accordingly, we caution you not to rely unduly on these forward-looking statements. Past performance is not
necessarily a guide to future performance.
Disclaimer
2
Agenda
Company Overview
2013 Key Financial Highlights
Business Update
3
Business Structure
Japanese restaurant: Yayoi
Registered Capital: 150 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”
4
International Restaurant
Thai Restaurant
Japanese Restaurant
Hot Pot Restaurant
Diversified Presence in Several Restaurant Segments
Our Restaurants
Leading Position in Hotpot and Japanese Restaurant Segments
an
Vietnam
Japan
Japan
an
Singapore
an
Indonesia
Other Restaurant
5
Restaurant Outlets in Thailand
Type of Business Restaurants Brand No. of Outlets Average Spending (THB)
Suki Restaurant MK 375 284
MK Gold
6 486
Japanese Restaurant Yayoi
113 230
Miyazaki
5 242
Hakata
3 202
Thai Restaurant Na Siam
1 251
Le Siam
2 471
Coffee Shop & Bakery
Le Petit
1 269
Remark: Data as of December 31, 2013
6
149 157 172 176
141 157 182 205
2010 2011 2012 2013Bangkok & 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 20
Yayoi 4
West
MK & MK Gold 16
Yayoi 3
North East
MK & MK Gold 48
Yayoi 10
South
MK & MK Gold 46
Yayoi 6
East
MK & MK Gold 41
Yayoi 9
BKK & Greater BKK
MK & MK Gold 176
Yayoi 70
Central
MK & MK Gold 34
Yayoi 11
Branches
Japan
MK 35
Japan
an
MK 4
Vietnam
an
MK 2 / Yayoi 4
Singapore
an
MK 1
Indonesia
54%
46%
354 290 314
381
33 42 61 70
18 22
30 43
2010 2011 2012 Q3' 2013
Bangkok & Metropolitan area Provincial area
38%
62%
91
51 64
113
Remark: Data as of December 31, 2013
7
Agenda
Company Overview
2013 Key Financial Highlights
Business Update
8
Gross Profit Margin
Gross Profit
Revenue Contribution
Revenues
Revenues Growth
THB Million
THB Million
In the year 2013, revenues grew 8% while gross profit grew 7%, mainly from branch expansion
2,988 3,381 3,307 3,465
13,141
3,416 3,638 3,575 3,612
14,240
Q1 Q2 Q3 Q4 YTD
2012 2013
+8% YoY
+4% YoY
MK
83%
Yayoi
14%
Others
3%
+1% YoY
+7% YoY
1,977 2,244 2,221 2,306
8,748
2,273 2,394 2,354 2,321
9,342
Q1 Q2 Q3 Q4 YTD
2012 2013
67% 67% 68% 68% 67% 67% 67% 67% 67% 67%
Q1 Q2 Q3 Q4 YTD
2012 2013
9
Net Profit Margin
Net Profit
EBITDA & Net Profit
THB Million
EBITDA
THB Million
In the year 2013, EBITDA & Net Profit were maintained at the same level as those of year 2012
EBITDA Margin
0% YoY
841 817 782 707
3,147
751 749 810 835
3,146
Q1 Q2 Q3 Q4 YTD2012 2013
+18% YoY
0% YoY
554 538 503 436
2,031
486 481 529 543
2,039
Q1 Q2 Q3 Q4 YTD2012 2013
+24% YoY
28% 24%
24% 20%
24% 22% 21% 23% 23% 22%
Q1 Q2 Q3 Q4 YTD
2012 2013
19% 16%
15% 13%
15% 14% 13%
15% 15% 14%
Q1 Q2 Q3 Q4 YTD
2012 2013
10
No. of Customers & SSSG
Negative Same-Store Sales Growth primarily due to the economic slowdown
No. of
Customers
Same-Store
Sales
Growth
Same-Store
Sales
Growth
12.0 13.5 12.6 13.2
51.3
12.8 13.6 12.6 12.3
51.3
Q1 Q2 Q3 Q4 YTD
2012 2013
6%
14%
6%
-2%
2%
-4% -4% -6%
1Q12 2Q12 3Q12 4Q12 1Q13 2Q13 3Q13 4Q13
33%
26%
9%
-4% -4% 5%
7%
-4%
1Q12 2Q12 3Q12 4Q12 1Q13 2Q13 3Q13 4Q13
11
D/E Ratio
Liabilities & Shareholders’ Equity
Total Assets
Financial Position as at December 2013
THB Million THB Million
15,006
Current Ratio
Liquidity is at a comfortable level as well as strong capital base to support growth
1,333 4,943
3,753
10,063
0
2,000
4,000
6,000
8,000
10,000
12,000
14,000
16,000
31-Dec-12 31-Dec-13
Current Assets Non Current Assets
5,086
15,006
3,615 2,482
1,471
12,524
0
2,000
4,000
6,000
8,000
10,000
12,000
14,000
16,000
31-Dec-12 31-Dec-13
Total Liabilities Shareholders's Equity
5,086
2.46
0.20
31-Dec-12 31-Dec-13
0.39
2.17
31-Dec-12 31-Dec-13
12
Agenda
Company Overview
2013 Key Financial Highlights
Business Update
13
Continued expansion strategy with shopping complexes, modern trade stores and community malls covering
nationwide
Outlet Expansion
35
20
9
MK Yayoi Others
10 21 30
57
1Q13 2Q13 3Q13 4Q13
MK Yayoi Others Accum.
No. of New
Outlets 2013
No. of New
Outlets 2014
14
Marketing Campaign “สุขล้น รวยล้าน”
15
Start operation in March 2014
Status Update - New Central Kitchen
16
Continuous Growth Plan
Medium Term Outlook
2013
2017 Target
International expansion
MK: 10 branches
Yayoi: 15 branches
2017
2013 Plan
65 branches expansion
(MK: 45 and Yayoi: 25)
New factory (CK5) @ 27,000 sq. m.
with budget of THB 1,000 mm
New office @ 5,500 sq. m.
with budget of THB 320 mm
2013 YTD Progress
MK: 29 branches
Yayoi: 22 branches
Other Brands: 6 branches
New factory (CK5) started operation
since March 2014
Completion of new head office
construction
Expansion Plan
Domestic:
Focus on MK and Yayoi brand, particularly in suburban area
Feasibility study and market testing for the expansion of Hakata
and Miyazaki
Potential to acquire sizeable brand that is scalable by leveraging
on M’s infrastructure (i.e., central kitchen and logistic network)
M has cash from IPO proceed that could be use to fund the new
brand acquisition
International:
Continue to test the possibility to expand internationally through
JV or franchise with partner who understands local market
Potential to acquire established international chained restaurant