central plaza hotel public company limited...2020/06/19 · property fund (ctaraf) 2009 centara...
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Central Plaza Hotel Public Company Limited
Milestone
1978Introduced Mister Donut
1983Centara Grand at Central Ladprao(1st Hotel)
1990Listed in the SET Thailand
1998Franchisee of Auntie Anne's
2007Rebranded to Centara Hotels & Resorts Centara Grand @ Central World Intoduced Pepper Lunch
2008Set up Leasehold
Property Fund (CTARAF)
2009Centara Grand Mirage, Pattaya Centara Grand Maldives(1st overseas property)
2010The Terrace, Chabuton,
Cold Stone,Centara Grand Phuket
2011Acquired Ootoya Introduced Yoshinoya
2013Centara Maldives
(2nd hotel in the Maldives)Introduced Tenya
2014Received a Royal Warrant of appointment(1st hotel in Thailand)Introduced Katsuya
2019
Fact Sheet Q1/2020
1984Authorized franchisee of KFC
1986Centara Grand Hua Hin
Cosi Pattaya Wong Amat BeachDeveloped owned brands: Aroi Dee, Suki House, Soft Air ,and Kowlune
New investment brands: Salad Factory and Café Amazon
2017Cosi Samui (1st COSI brand)
Obtained leasehold right tooperate Centra Chaeng Wattana
The performance represented is historical and that past performance is not a reliable indicator of future results. Forward-looking statements in this document are not guarantees of future performance and involve risks and uncertainties, and actual results may differ from those in the forward-looking statements as a result of various factors and circumstances. The views, analyses, and opinions expressed herein contain some information derived from publicly available sources and third party information providers. No representation or warranty is made as to the accuracy, completeness, or reliability of such information. This document should not be relied upon as any recommendation, view, opinion, representation or forecast of “Central Plaza Hotel Plc.” Nothing in this document should be construed as either an offer to sell, a solicitation of an offer to buy or sell shares or any type of securities in any jurisdiction. This presentation is not intended to be any type of investment advice and must not be relied upon as such. You must always seek the relevant professional advice before otherwise making any such financial, legal or commercial decisions.
Central Plaza Hotel Public Company Limited
Centara Hotels and Resorts is a leading Thailand-based hotel chain. Currently, it has hotels in operations and under constructions in a total of more than 70 hotels, with over 16,000 rooms both owned and managed hotels in 14 countries under 6 owned brands, “Centara”, range from Upper Upscale to affordable lifestyle.
Central Restaurant Group Co.,Ltd. (CRG) is one of the leaders in Thailand’s chain restaurant industry. Currently, it has 10 franchises, 4 own brands and 2 joint venture brands with more than 1,000 outlets nationwide.
Hotel Business
Food Business
To be the leading global hospitality group of Thai origin
Being a leading QSR operator in Thailand with presence in regional markets
Our Business
Hotel Business
Dividend
Stock information
Shareholding Structure
As of 31 March 2020
Apr ‘19 May ‘19 Jun ‘19 Jul ‘19 Sep ‘19 Oct ‘19 Nov ‘19 Dec ‘19 Jan ‘20 Feb ‘20 Mar ‘20
Last Price
15.4 52-Week High/Low
46.00/13.30Market Cap (THB mn)
27,000.00 Market Cap (USD mn)
847.458Free Float (%)
74.38%
Others
Q1/19 Q1/20
KrabiSamuiHuahinPattayaPhuketMaldivesBangkok
Bangkok
Upcountry
Hotel Revenue Breakdown* Including owned hotel JV and property fund As of March 2020
Hotel Performance
Food business TSS & SSS
Hotel Business Pipeline
Q2/19 2019
Same store sale (SSS) and Total system sale (TSS)
of hotel revenuefrom Thailand
Same store sale (SSS): Bangkok vs Upcountry
Summary of Pipeline 2020E - 2024EAs of March 2020
BaliCambodiaChinaDubaiJapanLaosMaldivesMyanmarQatarTurkeyThailandVietnam
210240596607515626541
95761449
2,0312,258
8,929
1.9% 2.3%
29.8
%23
.8%
87%Thailand
57%Owned
53%Thailand
36%Owned
-5.1%
-4.1%-3.6%
2.5%
2014 2015 2016 2017 2018
Dec-14 Dec-15 Dec-16 Dec-17 Dec-18
3.2% CAGR
In operation by rooms* Including owned hotel JV and property fund As of March 2020
Total portfolio by rooms
79.0%
Hotel revenuebreakdown by region
Food Business
KFC / (+1% yoy)
Mister Donut / (-6% yoy)
Auntie Anne's / (-7% yoy)
Others / (-8% yoy)
OOTOYA / (-14% yoy)
Food Revenue Breakdown Food outlet portfolio
Q1/20
Rooms
Total
Chirathivat Family 61.9%
Retails 22.9%
Foreign Institution 8.9%
Local Institution 6.3%
AsiaTurkeyMaldivesThailandCambodiaJapan
Total 33 Hotels
Revenue Contributionby Location
Number of outlets by location
Grand total 1,064 outlets + 108 outlets yoy
KFC 59%
Mister Donut 13 %
OOTOYA 7%
Auntie Anne's 7%
Others 14%
KFC
Mister Donut
Auntie Anne's
Ootoya
Pepper Lunch
The Terrace
Chabuton
Yoshinoya
281
371
181
48
46
9
17
17
Change yoyOutlets Change yoyOutlets
12
6
9
2
4
-
-2
-5
Tenya
Katsuya
Cold Stone
Aroi Dee
Suki House
Kowlune
Total
14
36
17
17
3
3
1,060
4
8
-1
14
3
3
57
1.35 billionShare issuedand paid - up
64%Non-Bangkok
64%Non-Bangkok
ChinaIndonesiaLaosMyanmarVietnam
Middle EastQatarUnited Arab Emirates
Q3/19
-1.8%
5.7% 0.5%
2018 Q2/19 2019Q3/19Q1/19 2018
9.3%
Total EBITDA
Financial Position & Gearing Ratio
Total Core Net Profit
Total Revenue
2014 2015 2016 2017 2018 2019
18,2
83
1,1
55
1,7
66
1,8
51
2,0
56
2,1
82
1,72
2
3,67
3
4,39
8
4,45
6
4,70
2
4,96
6
4,29
9
19,2
16
19,9
06
20,3
46
21,7
68
21,1
90
3.0% CAGR
8.3% CAGR
2014 2015 2016 2017 2018 2019
0.88 1.23 1.37 1.48 1.61
0.40 0.50 0.55 0.60 0.65
82% 62% 77% 86% 74%
1.3% 1.1% 1.4% 1.0% 1.6%
2019
Dec-19 Mar-20
Q1/19
EBIDA Margin
Q1/20
Unit: THB mn
2,75
6
1,79
7
1,17
6
556
34.8%
42.7
%
30.9
%
52.7%
Food PerformanceBrands
Q1/19
EBIDA Margin
Q1/20
Unit: THB mn
Total Revenue
EBITDA before extra items
Total Revenue
EBITDA
BangkokUpcountry
SSS
TSS
17.8
% 20.7
%
17.9
% 20.3
%
12.0
%12
.2%
8.3%
10.5
% 5.6%
2.8%
6.7%
7.4%
2,80
42,88
7
322
496
17.8%11.2%
54.0%
2.9%
-1.7%-1.8%
-5.2%-4.8%
Total Liabilities Total Equity Interest BearingDebt/Equit (Times)
As of March 2020 As of March 2020
Unit : THB mn
Unit : THB mn
Unit : THB mn
Unit : THB mn
Q1/19
5,64
3
Q1/20
4,60
1
Q1/19
745
Q1/20
-9
Q1/19
1,49
8
Q1/20
1,05
2
1.20.9 0.7 0.6 0.5 0.5
1.6
24,7
7065
%
59%
54%
52%
49%
49%
24,4
43
24,3
97
25,0
37
26,4
47
27,5
90
64%
37,5
01
2014 2015 2016 2017 2018
EPS
DPS
Dividend Yield
%Payout(Seperate F/S)
1.28
-
-
-
2019
Central Restaurant Group
Thailand
Overseas
Thailand
Overseas14,758Grand Total Rooms77Grand Total Hotels
18
5
2430
4,457
3,351
7,350
1,579
10
20
Owned Managed Owned Managed
In operation In operation Pipeline PipelineIn operation In operation Pipeline Pipeline
Number of Hotels Number of Rooms
2
16
14 4
20
252
4,205
147
1,432
2,565
786
1,884
5,466
Q4/119-8.4%
-1.0%
-6.3%
1.8%
Q1/20
-3.0%
-9.5%
0.1%
-9.4%
-7.9%
Q4/19
-6.5%-6.0%
Q1/20-12.3%
-8.0%
-0.1%
6
NewBrand
NewJoint
Ventures
Midscale
Upper Upscale / UpscaleUpscaleUpper UpscaleLuxury
Affordable life style