![Page 1: Quarterly Meeting # 2/2016 - The Erawan Group · 1Q16 Weight 1Q16 Y-Y 1Q16 3Y/CAGR China 26% 29% 31% Malaysia 11% 10% 1% 9% Japan 5% 4% 3% South Korea 5% 14% 7% India 3% 12% 1% Laos](https://reader035.vdocuments.us/reader035/viewer/2022062607/6025a6b6eddaab6f0b101294/html5/thumbnails/1.jpg)
Quarterly Meeting # 2/2016
1Q16 Performance & Outlook
13 May 2016
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2 © 2016 ERAWAN. All rights reserved.
The views expressed here contain some information derived from publicly available sources
that have not been independently verified. No representation or warranty is made as to the
accuracy, completeness or reliability of the information. Any forward looking information in
this presentation has been prepared on the basis of a number of assumptions which may
prove to be incorrect. This presentation should not be relied upon as a recommendation or
forecast by The Erawan Group PLC. Nothing in this release should be construed as either
an offer to sell or a solicitation of an offer to buy or sell shares in any jurisdiction.
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Executive Summary
International tourist arrivals grew in all key source markets at
15% in 1Q16. Hit highest record.
Following our strategy to focus investment in high growth
markets and high growth segments, we continue to capture
industry demand growth and expand market share.
In 1Q16, our core performance hit record high with operating
income and NPAT increased 6% and 37% respectively.
2 HOP INN opened in 1Q16, resulting to 17 HOP INN or
35 hotels at the end of 1Q16.
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4 Q & A
3 Outlook
Agenda
1 Industry Update
2 Performance Review 1Q16
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International Tourist Arrivals
-20%
-15%
-10%
-5%
0%
5%
10%
15%
20%
0.0
0.5
1.0
1.5
2.0
2.5
3.0
3.5
Jan Feb Mar Apr May June July Aug Sep Oct Nov Dec
2013 YTD 7.01 M 2014 YTD 6.38 M
2015 YTD 7.88 M 2016 YTD 9.04 M
YoY 2015-2016
Millions YTD 9.04 millions, +15% y-y
Source : Department of Tourism as of Mar-16
+13% +15% +16%
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Tourist Arrivals by Quarter
Source : Department of Tourism as of Mar-16
7.0
6.1
6.6 7.0
6.4
5.1
5.8
7.5 7.9
6.9 7.3
7.8
9.0
Q1 Q2 Q3 Q4
2013 2014 2015 2016
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Source : Department of Tourism as of Mar-16
Tourist Arrivals by Source Markets
East Asia 64%
Europe 23%
The Americas
4%
South Asia 4%
Oceania 2%
Middle East 2%
Africa 1%
Continent
1Q16
YoY
East Asia 17%
Europe 11%
The
Americas 16%
South Asia 9%
Oceania 0%
Middle East 8%
Africa 13%
Total 15%
1Q16 Contribution
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Source : Department of Tourism as of Mar-16
Tourist Arrivals by Key Source Markets
1Q15
Weight
1Q16
Weight
1Q16
Y-Y
1Q16
3Y/CAGR
China 26% 29% 29% 31%
Malaysia 11% 10% 1% 9%
Japan 5% 4% 3% 3%
South Korea 5% 5% 14% 7%
India 3% 3% 12% 1%
Laos 3% 4% 42% 12%
United Kingdom 3% 3% 17% 5%
Singapore 3% 2% 5% 4%
United States 3% 3% 16% 5%
Russia 4% 4% 11% 15%
Other 34% 34% 9% 4%
Grand Total 100% 100% 15% 9%
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4 Q & A
3 Outlook
Agenda
1 Industry Update
2 Performance Review 1Q16
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Core Performance Summary
1,447
1,536
1Q15 1Q16
6%
Group Operating Income
490 532
1Q15 1Q16
EBITDA
140 191
1Q15 1Q16
Net Profit
9%
37 %
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1Q14 1Q15 1Q16
Room Revenue
1Q14 1Q15 1Q16
Luxury Segment 7%
1Q14 1Q15 1Q16
Midscale Segment 7%
1Q14 1Q15 1Q16
Economy Segment 4%
9% Total Group
Budget Segment 134%
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Room Revenue by Country of Residence
Country 1Q16
Contribution Y-Y
China 16% 33%
Thailand 12% 1%
United States 11% 7%
Singapore 6% 14%
Hong Kong 4% 1%
India 4% 7%
United Kingdom 4% 1%
Germany 4% 9%
Russia 4% 35%
South Korea 4% 19%
Others 31% 3%
Total Group 9%
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F&B Revenue
1Q14 1Q15 1Q16
Luxury Segment
4%
1Q14 1Q15 1Q16
Midscale Segment 11%
1Q14 1Q15 1Q16
Economy Segment
33%
2% Total Group
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Hotel Revenue
1Q14 1Q15 1Q16
Luxury Segment 2%
1Q14 1Q15 1Q16
Midscale Segment 8%
1Q14 1Q15 1Q16
Economy Segment 8%
6% Total Group
1Q14 1Q15 1Q16
Budget Segment 135%
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Operating Income
1Q15 Luxury Midscale Economy Budget Rental 1Q16
MB
1,536 1,447 2% 8% 8% 4% 135%
1Q15 BKK Pattaya Phuket Others 1Q16
MB
1,536 1,447 2% 6%
21% 16%
By Segment
By Destination
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EBITDA
1Q15 Luxury Midscale Economy Budget Rental 1Q16
532
490 1% 12%
15% 2% 189%
1Q15 BKK Pattaya Phuket Others 1Q16
532
490 1% 10%
53% 30%
MB
MB
By Segment
By Destination
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Consolidated Profit & Loss Statement
In Baht Millions 1Q15 1Q16 %Y-Y
Hotel Income 1,398 1,485 6%
Rental and Service Income 50 51 4%
Total Operating Income 1,447 1,536 6%
Other Income 9 9 4%
Total Income 1,456 1,545 6%
Operating Expenses (965) (1,013) 5%
EBITDA 490 532 9%
Share of Profit in ERWPF 7 8
ERWPF Rental Payment (28) (28)
Depreciation (177) (180)
Interest Expenses (99) (93)
Taxes (39) (44)
Minority Interest (15) (7)
Normalized Net Profit/(Loss) 140 189 35%
Non Recurring Items - 3
Net Profit/(Loss) 140 191 37%
EBITDA Margin (%) 33.7% 34.5%
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0
4,000
8,000
12,000
16,000
FY2014 FY2015 1Q16
Baht Million
Total Assets
Summary of Financial Position
FY2014 FY2015 1Q16
Total Liabilities & Equity
ST Loan
LT Loan
Other Liabilities
Equity
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Debt to Equity Ratio
2.6
2.0 2.1
1.3
1.8 1.8 1.7
0.5
0.7
0.9
1.1
1.3
1.5
1.7
1.9
2.1
2.3
2.5
2.7
2.9
4,000
5,000
6,000
7,000
8,000
9,000
Dec-10 Dec-11 Dec-12 Dec-13 Dec-14 Dec-15 1Q16
Interest-bearing Debt to Equity
TO
TA
L IN
ER
ES
T-B
EA
RIN
G D
EB
T (
MB
)
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4 Q & A
3 Outlook
Agenda
1 Industry Update
2 Performance Review 1Q16
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International Tourist Arrivals
11.6
13.8 14.5 14.6 14.1 15.7
19.1
22.3
26.5 24.8
29.9
32.0
0
5
10
15
20
25
30
35
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016F
Million
TSUNAMI Coup Protest Protest Protest Protest
Source : Department of Tourism as of Mar-16
Proven Resilience to Challenges
Protest
7%
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2016 Outlook
No. of Rooms
Increase from 5,676
rooms to 6,310 rooms
+634 rooms
Hotel Revenue
15%
OCC +6% from 2015
ARR +3-7% from 2015
F&B +14% from 2015
+634 rooms (Increase from 5,676 rooms to
6,310 rooms)
No. of Rooms
+7% from 2015 OCC
+3-7% from 2015 ARR
+14% from 2015 F&B
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HOP INN #16 Roiet 79 rooms Opened in Jan 16
HOP INN #17 Chumphon 79 rooms Opened in Mar 16
HOP INN #18 Chanthaburi 75 rooms Opened in April 16
HOP INN #19 Sakonnakhon 75 rooms Target Opening : 2Q16 On Schedule
HOP INN #20 Chiangmai 75 rooms Target Opening : 3Q16 On Schedule
HOP INN #21 Hatyai 79 rooms Target Opening : 4Q16 On Schedule
1 HOP INN Philippines 168 rooms Target Opening : 4Q16 On Schedule
Hotel Growth Strategy
Developing Hotels Proceeding as Plan
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Hotel Growth Strategies
95 Hotels by 2020 in Thailand and ASEAN
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Strong Financial Support
Cash flow
from
Operation
Debt
Financing
Project
Finance
Bond
Approved
New Loan
3,500 MB
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Luxury
Midscale
Economy
HOP INN
Forward-looking statement based on company operating and investment assumptions
Luxury
Midscale
Economy
HOP INN
100%
2004
100%
Before
Master Plan
70%
15%
15%
2010
64% 18%
18%
Phase I
55% 24%
19%
2%
2015
47%
29%
21%
3%
Phase II
2020
42%
24%
18%
16%
35%
24%
18%
23%
Phase III
Projected Revenue and EBITDA by Segment
Revenue by
Segment
EBITDA by
Segment
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Bangkok
ASEAN
Forward-looking statement based on company operating and investment assumptions
Non Bangkok
Bangkok
ASEAN
Non Bangkok
2004
100%
100%
Before
Master Plan
2010
73%
27%
84%
16%
Phase I
2015
65%
35%
0%
67%
33%
Phase II
2020
55% 35%
10%
50% 37%
13%
Phase III
Projected Revenue and EBITDA by Destination
Revenue by
Destination
EBITDA by
Destination
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4 Q & A
3 Outlook
Agenda
1 Industry Update
2 Performance Review 1Q16
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Appendix
1Q16 Review
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Operating Income
1Q16
Segment Contribution Y-Y
Luxury 51% 2%
Midscale 24% 8%
Economy 20% 8%
Budget 2% 135%
Rental 3% 4%
Total Group 6%
1Q16
Destination Contribution Y-Y
BKK 62% 2%
Pattaya 16% 6%
Phuket 10% 16%
Other 12% 21%
Total Group 6%
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EBITDA
1Q16
Segment Contribution Y-Y
Luxury 43% 1%
Midscale 26% 12%
Economy 23% 15%
Budget 3% 189%
Rental 4% 2%
Total Group 9%
1Q16
Destination Contribution Y-Y
BKK 58% 1%
Pattaya 19% 10%
Phuket 10% 53%
Others 13% 30%
Total Group 9%
Note : • For illustration purpose only. • EBITDA by Segment is calculated without taking non-property-specific expenses into account.
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Success with Integrity