Download - Wowprime Corporation (2727.tw) Presentation
Wowprime Corporation
(2727.tw)
Presentation
Steven Liu
Executive Director - Finance
1
Agenda
Company background …………………………………………...2
Brand introduction and market overview …………………..….12
Business philosophy and performance ………………………..24
Competitive advantages and corporate responsibility ……… .34
2
Company Background
Mission
Our strong management team provide a
top quality dining experience and take
corporate social responsibility seriously.
Vision
To be the best global restaurant chain
5
Taiwan
Year founded: 1993
Capital:NT$679.50m
1.Company background
220 stores in Taiwan
(Nov 30, 2012)
Type:Direct
49 stores in China
(Nov 30, 2012)
Type: Direct
Company
profile
China
Year founded: 2003
Capital :US$22.4m
2 stores in Thailand
(3Q11 opened)
Type: Franchise
2. Target for 2013
Taiwan
China (Mid and high-end)
China (Mid-end)
Numbers Of Brand
12 4 1
2011
1. Won 6 prizes in Hong Kong international Culinary Classic Competition. (3 silver, and 3 bronze)
2. Won 9 prizes in 13th Penang Chefs Challenge . (1 gold, 5 silver, 3 bronze, and 1 honorable
mention)
3. Voted as the 3rd- ranked in Happy Company survey.
4. Wang Steak was championship of “Golden Service Award” in western chain catering, followed by
Tasty (runner-up), and Chamonix (3rd place). Giguo was the championship in Chinese style chain
catering—Giguo <<CommonWealth Magazine>
5. Wang Steak was awarded best customer service award, followed by Yuanshao Roast (runner-up),
Pintian (3rd), Giguo (4th), and Tokiya (5th).
3. Achievements
1.Wang Steak was voted as the platinum winner in Reader’s Digest trusted brands 2009.
2.Wowprime was voted as the 21st-ranked best company to work for by readers of the Cheers
Magazine.
2009
2010 1. Chamonix was rated as high quality restaurants in 2010 Nothern Taiwan’s top restaurants
survey.
2010
1. Wowprime was voted as the 1st-ranked best company to work for by readers of the Cheers
Magazine.
2. Pintian was awarded best customer service award, followed by Wang Steak (runner-up), and
Chamonix (3rd).
3. Voted as the 2nd-ranked in Happy Company survey
4. Giguo was the 5th-ranked of “Golden Service Award” in chain catering <<CommonWealth
Magazine>
5. Won 18 prizes in Thailand IFHS’12 Culinary Competition. (7 gold, 8 silver, and 3 bronze)
6. Won 10 prizes in 14th FHC China Culinary Art Competition. (4 gold, 5 silver, and 1 bronze)
3. Achievements(cont’d)
9
En
gin
ee
ring
Dep
t.
Hu
ma
n
Reso
urc
e
Mgm
t. De
pt.
Info
rma
tion
Dep
t.
Pu
rcha
sin
g
Dep
t.
Fin
an
ce
Dep
t.
Auditors
Tra
inin
g
Dep
t.
Bra
nd
ing
Dep
t.
Corp
ora
te
rela
tion
Dep
t.
Board
Wan
g S
tea
k
President
Ta
sty
Ste
ak
To
kiy
a
Yu
an
sh
ao
Roa
st
Gig
uo
Cha
mo
nix
Ikki
Pin
tian
Headquarter
12 Sa
bu
Audit
Committee
Shareholder
Meeting
DPP
Su
food
Vice President
General Manager
Fam
on
n c
offe
e
4. Organization structure
Remuneration
committee
10
5. Current board members and supervisors
Founding shareholders
Brand founders
10+yr working
experiences
Excellent managers
Well-known expertise
Directors&
Supervisor
s
11
6. Management team
Division managers Headquarter
managers
Senior executive managers from
well established companies
Master or above degree
Solid experiences in day to day
hands on operation
Multi-brand operation experience
Innovation
+10 years industry experiences
Has led stores with outstanding
operating results
Senior line manager from well
established companies
+10 years industry experiences
12
Brands Introduction and Market Overview
13
Brands Introduction
14
Single brand
Poly-
Brand
Transnational Brand
•ASEAN China
Large Brand
1.Strategic brand development
15
Brand
Time
opened 1993 2001 2002 2004 2004 2005
Cuisine
type
Western
style
cuisine
Western
style
cuisine
Japanese
Cuisine
Flavor meat,
Teppanyaki
Hokkaido
kelp pot
New style
Japanese
Cuisine
Store
number 14 37 31 19 27 11
Brand
Total stores Time
opened
2005 2007 2009 2010 2011
Cuisine
type
French
Teppanyaki
Japanese
chops、curry
Sabu pot,
Stone pot
Vegetarian
food
Coffee &
Desserts
Store
number 13 21 29 12 6 220
Nov 30,2012 2. Store numbers in Taiwan
16
Tasty steak 1
Tasty steak 1
Tokiya 1
Pintian 1
12 Sabu 1
Total 4
Tasty steak 1
Giguo 1
Total 2
Wang Steak 8
Tasty 19
Tokiya 17
Yuanshao 12
Giguo 13
Ikki 5
Chamonxi 8
Pintian 6
12 Sabu 9
Sufood 8
Famonn 6
Total 111
Wang Steak 3
Tasty 7
Tokiya 7
Yuanshao 3
Giguo 7
Ikki 3
Chamonxi 2
Pintian 8
12 Sabu 10
Sufood 2
Total 52
Wang Steak 3
Tasty steak 8
Tokiya 6
yuanshao 4
Giguo 6
Ikki 3
Chaminxi 3
Pintian 6
12 Sabu 9
Sufood 2
Total 50
3. Store map in Taiwan Taipei /
Taoyuan /
Hsinchu
Miaoli /
Taichung /
Changhwa /
Yunlin / Nantou
Yilan
Hualian /
Taidong
Jiayi / Tainan /
Kaoshiung
Pingdong
17
4. Brands positioning in Taiwan
Mid to high-end
Customers
High-end
Customers
Mid-end
Customers
North:
Wang Steak 7 stores
Tasty Steak 5 stores
East:
Wang Steak 13 stores
Tasty Steak 10 stores
South:
Wang Steak 10 stores
Tasty Steak 2 stores
5. China stores map
West:
Wang Steak 2 stores
Tasty Steak - stores
19
Market Overview
20
Chart 1: Restaurant sales in Taiwan
Source: Directorate General of Budget, Accounting, and Statistics
Sales(NT$ mn)
YoY growth
321,781
344,752
372,139
4.58 4.37
1.82
0.04
7.14
7.94
-15
-10
-5
0
5
10
-
50,000
100,000
150,000
200,000
250,000
300,000
350,000
400,000
2001年 2002年 2003年 2004年 2005年 2006年 2007年 2008年 2009年 2010年 2011年
營業額
年增率(%)
21
Chart 2: Outside-dining as a % of total F&B expenditures
Source: Directorate General of Budget, Accounting, and Statistics
17.6
24.6
29.6 29.7532 32.8 32.9 33.3
34.8 35.8 36.8
0
5
10
15
20
25
30
35
40
1991 1996 2002 2003 2004 2005 2006 2007 2008 2009 2010
22
Industry Analysis
23
Unit:NT$ mn
Year
Sales/ Stores
2009 2010 2011 2012.3Q YoY
Growth
Sales
Wowprime 4,238 5,753 7,698 7,250 33.81%
Restaurant
industry 271,718 291,645 316,720 248,277 8.60%
Market
share 1.56% 1.97% 2.43% 2.92%
Source:Wowprime audited financial reports, Taiwan Chain Store Almanac, MOEA
Market share
24
Business Philosophy and Performance
25
Business philosophy (S.T.I.S.)
SINCERITY
TEAMWORK
INNOVATION
SATISFACTION
1.Business philosophy
26
2. Key values
◎ Employee is the most critical assets for business expansion. The more
talents a corporate has, the larger the business can expand.
◎ Corporate culture is the foundation for the continuity of business
operation. The more solid the corporate culture is, the longer the
business can sustain.
Employees &Corporate culture
27
2. Key values (Cont’d)
Corporate culture
1. Treat employees as one family
2. Wowprime Constitution
3. Special terms
- Adhere to high ethical standards
- Conservative financial policy
- Advocates thrifty and healthy life
- Self-discipline of managers
- Encourage participation in public
welfare
Talents training
1. 206 credits
2. Managers training and talents pool
3. Executive managers training &
talents pool
4. Harvard case
5. Mentor of Wowprime – Wowprime
has held 448 guest speaker lectures
by November 30, 2012
6. Social activity credit
7. Seed plan: Wowprime lectures for
students still at school
28
2. Key values (Cont’d)
Decision making &Profit control
◎ Winning strategy: Position precisely in defined market
segmentation, Pioneer in differentiation, Penetrate in focused market
◎ Operating strategy: “1-5-1 principle”. Increase sales amount to 5
times of capital and make earnings equivalent to 1 time of capital
within the first year of operation
29
2. Key values (Cont’d)
Differentiation
Penetration
Position
1. Excellent service
2. Product differentiation
3. R& D on new dishes
4. Participate in int’l cooking contests
5. Multiple brands strategy
1. Transparent financial info disclosure
2. Focus on core business
3. Held contests among brands
4. Solid employee training
5. Participate in int’l cooking contests
1. Large market size
2. Sustainable and popular products
3. Potential for further market growth
30
3. Performance
Chart 3: Wowprime numbers of store
170
220
45 49
215
269
128
937267
56
18 21 24 27 39
167
12096
8874
0
50
100
150
200
250
300
2006 (擬制)
2007 (擬制)
2008
2009
2010
2011
2012.11
台灣店數
大陸店數
集團店數
Taiwan store #
China store #
Total store #
31
3. Performance (Cont’d)
Chart 4: Wowprime sales amount
7,6987,250
2,018 1,940
9,190
5,753
4,2383,767
2,8853,487
1,3641,112966924601
9,716
7,117
5,3504,733
4,4113,486
0
2,000
4,000
6,000
8,000
10,000
12,000
2006
(擬制)
2007
(擬制)
2008 2009 2010 2011 2012.3Q
台灣營業額
大陸營業額
集團營業額
Taiwan sales
China sales
Total sales
32
3. Performance (Cont’d)
262,299 266,021
634,007
772,987 826,855
100,000
200,000
300,000
400,000
500,000
600,000
700,000
800,000
900,000
1,000,000
2008 2009 2010 2011 2012.3Q
仟元
獲利
Chart 5: Wowprime net profits (Taiwan)
NT$ thousand
Net profit
33
3. Performance (Cont’d)
4. 58 4. 65
11. 08
12. 71 12. 42
-
2.00
4.00
6.00
8.00
10.00
12.00
14.00
2008 2009 2010 2011 2012.3Q
元
EPS
Chart 6: Wowprime EPS (Taiwan)
1-3Q2011
NT$
34
Competitive Advantages and Corporate
Responsibility
35
High-quality
service
Best food
materials
Brand
diversificati
on &
continuous
R&D
Best food
safety
managemen
t
Scale
economy
benefits
Competitive
Advantages
Competitive advantages
36
Corporate responsibility
No bribery, no
tax dodge
Maintain
neutral for
politics
No social
events for
business
related affairs
Related party
transaction
restricted
Corporate
Governance
37
Corporate responsibility (Cont’d)
Safeguard
fund for
colleagues
Emergency
fund for
colleagues
Scholarship
for
colleagues’
children
Corporate promises
38
Corporate responsibility (Cont’d)
Every brand
participates in
social welfare
Wowprime
dishes-holding
competition
Wowprime
Daishui
Foundation
Donation of
income from
public business
affairs
Social welfare participation
Set up
scholarship
Experience
sharing
among
peers
39
Corporate responsibility (Cont’d)
Environmental
Protection
No use of
disposable
chopsticks
Improve logistic
efficiency
No use of
endangered
species as
materials
No superstition
40
Thank You