MBK Public Company Limited Key Performance 1H/2016 Disclaimer
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MBK Public Company Limited Key performance 1H/2016 Disclaimer . This presentation is made, furnished and distributed for information purposes only. Nothing in this release should be construed as either an offer to sell or the solicitation of and offer to buy or sell share in any jurisdiction. This presentation may include information which is forward-looking in nature. Forward-looking involve risks, uncertainties and other factors which may impact on the actual outcomes, include economic conditions in the markets in which MBK operates and general achievement of MBK business forecasts, which will cause the actual results, performance or achievements of MBK to differ, perhaps materially, from the results, performance or achievements expressed or implied in this presentation. Please be advised that this presentation may contain expectations and assumptions that are subject to change at any time. Results and future performance are not guaranteed and may differ from expectations. Agenda . Company overview . Operating Performance 1H/2016 . Operating by segment - Shopping Center Business - Hotel & Tourism Business - Golf Business - Real Estate Business - Finance Business - Food Solution Business - Other Businesses . Financial Information 1H/2016 Company Overview MBK Group Background :Established in 1974; relisted on the SET since 1994 changing its name to “MBK” in 2003 Paid-Up capital :1,886.29 million Baht(1,886.29 million shares par 1Baht) Market capital :26,974 million Baht (14.3 Baht/share as of 30 June 2016) Dividend policy :Not less than the previous period* Major share :Pathum Rice Mill and Granary Plc. (25.14%) Thanachart Group (19.90%) Credit rating :“A/Stable ” By TRIS Rating Co., Ltd. *Depending on economic conditions And the company's business in the future History of MBK Group 1974 - 2000 2001 - 2010 2011 - Present 1974 - Established MBK Group 2002 - Tinidee Hotel @ Ranong 2011 - The Nine Center 1981 - Rice Business 2003 - Real Estate Business - Layana Hotel (Lanta 1985 - Mah Boon Krong - Sheraton Krabi Beach Island) Shopping Center Resort 2014 - A La Art (formerly 29 1996 - Pathumwan Princess - Loch Palm Golf Club Plaza) Hotel 2007 - Red Mountain Golf Club - HaHa - Apple Auto Auction - Bangkok Golf Club - Glas Haus Sukhumvit 2015 -Tokyu Department Store 2010 - Paradise Park @ Paradise Park - Hire purchase (T Leasing) - Rebrand Sheraton Krabi - Lending Business (MBK Beach Resort to Dusit Guarantee) Thani Krabi Beach - Riverdale Golf Club Resort Group’s businesses Group’s - Glas Haus Ratchada 2001 - Royal Orchid Sheraton 2011 - Dusit Thani Maldives Hotel 2014 - Life Insurance Business 2002 - Siam Piwat Group (Siam Paragon, Siam Center , Siam Discovery) companies Associated Shopping Center Hotel & Tourism Golf Real Estate Food Solution Financial Other Loch Palm Golf MBK Plan Estate Patum Rice Mill MBK Patumwan Club Center Princess Hotel (72.6%) (74.5%) Guarantee Apple (72.6%) Auto Auction (50%) Red Mountain Glas Haus Paradise Park Tokyu Paradise MBK Food Island Dusit Thani Krabi Golf Club Ratchada (Quinn T Leasing (50%) (25%) (74.5%) Beach Resort (72.6%) Condo) MBK Food and TCAP Siam Piwat Tinidee Hotel Riverdale Golf MBK Resort Entertainment Siam Center (10.2%) (30.7%) @Ranong Club (72.6%) (62.1%) Siam Discovery Tinidee Golf Resort Bangkok Golf MBK Realty MBK Food System Max Asset @Phuket Club (55%) (44.7%) (16.6%) Siam Tower Layana Resort & Spa Hotel Lam Luk Ka Golf MBK Restaurant MBK Life and Country Club Group (62.1%) (49%) (44.6%) Siam Paragon (15.4%) Dusit Thani Maldives (35%) The Nine Center Royal Orchid Sheraton Hotel Glas Haus (29.9%) Sukhumvit Dusit Thani Hotel Glas Haus Siam Delice (11.7%) Ratchada (50%) Operating Performance 1H2016 Operating Performance – MBK Group For the six-month period ended (Unit: Million Bath) 30 June 2016 2016 2015 Increase/Decrease Operating Revenue 5,607 4,659 948 20% Operating Profit 1,162 769 393 51% Share of profit from investments in associates 81 161 -80 -50% Other income 308 250 58 23% Finance costs -228 -239 11 5% Income Tax expense -218 -146 -72 -49% Non - controlling interests of subsidiaries 18 25 -7 -28% Net profit - attributable to equity of the Company 1,123 820 303 37% Earning per shares (Baht) 0.84 0.61 0.23 37% Operating Revenue – MBK Group 6,000 5,607 5,000 4,659 4,000 3,000 2,000 1,000 - 1H16 1H15 Shopping Center Food solution Real Estate Hotel & Tourism Finance Golf EBIT – MBK Group 1,400 1,162 1,200 1,000 769 800 600 400 200 - 1H16 1H15 -200 Shopping Center Food solution Real Estate Hotel & Tourism Finance Golf Key Operations by Geographic Locations Bangkok and Surrounding areas Shopping Mall Krabi Province Hotel Bangkok Phuket Province Golf Hotel Krabi Phuket Hotel Golf Operating Performance by Segment Operating Performance – MBK Group Lettable Area Shopping Center Location Ownership Storey MBK 'Stake Avg. OR (%) * (Sqm) Pathumwan Leasehold ended MBK Tower 84,410 8 100% 92.90% Intersection year 2033 Leasehold ended Paradise Park Srinakarin Road 91,648 5 65% 94.60% year 2023 The Nine Center Rama 9 Road Freehold 15,598 4 100% 94.90% Leasehold ended HaHa Srinakarin Road 16,488 4 65% 42.10% year 2037 Office Building Portfolio Lettable Area Shopping Center Location Ownership Avg. OR (%) * (Sqm) Pathumwan Leasehold ended MBK Tower Intersection year 2033 15,588 100% Leasehold ended Glas Haus Sukhumvit Sukhumvit Road year 2030 12,999 99% The Nine Office Rama 9 Road Freehold 8,979 100% Rachadapisek Leasehold ended Glas Haus Ratchada Road year 2024 7,509 100% Shopping Center Business Property MBK's Net Stake Total 366,344 Shopping Center MBK's Net Stake 210,451 MBK Center 100.00% The Nine 116,000 91,648 The Nine Center 100.00% Paradise Park 84,410 Paradise Park 65.4% HaHa Siam Discovery 28,694 HaHa 65.4% Siam Center 19,000 Office Building Siam Paragon 16,488 MBK Tower 100.00% MBK Center 15,598 Glas Haus Sukhumvit 100.00% 0 50,000 100,000 150,000 200,000 250,000 300,000 350,000 400,000 Glas Haus Ratchada 100.00% Retail Area (sq.m.) 75,775 The Nine Office 100.00% Total 54,502 Siam Piwat Group MBK's Net Stake Siam Tower 30,700 Siam Center 30.7% MBK Tower 15,588 Siam Discovery 30.7% Glas Haus Sukhumvit 12,999 Siam Paragon 15.4% The Nine 8,979 Glas Haus Ratchada 7,509 0 10,000 20,000 30,000 40,000 50,000 60,000 70,000 80,000 Office Area (sq.m.) Shopping Center Business -Average Occupancy Rate Avg. OR (%) * 1H16 1H15 2015 2014 MBK Center (84,410 sq.m.) 93% 91% 90% 98% Paradise Park (91,648 sq.m.) 95% 95% 95% 93% The Nine Center (15,598 sq.m.) 95% 95% 95% 90% Ha Ha (16,488 sq.m.) 42% 51% 42% 53% Total Group 93% 90% 89% 93% MBK Tower (15,588 sq.m.) 100% 100% 100% 100% Glas Haus Sukhumvit (12,957 sq.m.) 99% 99% 99% 99% The Nine office (8,979 sq.m.) 100% 100% 100% 100% Glas Haus Ratchada (7,509 sq.m.) 100% 100% 100% 100% Total Group 100% 100% 100% 100% Shopping Center Business -Operating Revenue 2,500.00 2,008 1,907 2,000.00 1,500.00 1,000.00 500.00 - 1H16 1H15 MBK PDP THE NINE GLAS HAUS* HAHA Shopping Center Business -EBIT 700.00 548 600.00 505 500.00 400.00 300.00 200.00 100.00 - 1H16 1H15 (100.00) MBK PDP THE NINE GLAS HAUS* HAHA Contribution of SPW MBK holds 30.7% stakes in SPW 250.00 220 200.00 164 150.00 135 120 120 121 121 100.00 71 50.00 - 20152015 20142014 1H16 1H15 Profit Sharing Dividend Hotel & Tourism Business Portfolio Room MBK’s Hotel Location Capacity Ownership Operate/ Acquire Stake (Keys) Leasehold Pathumwan Princess Hotel Bangkok ended year (PPB) 455 1996 100% 2033 Dusit Thani Krabi Beach Resort Krabi Freehold (DTKR) 240 2003 100% Tinidee Hotel @ Ranong Ranong Freehold (TNDR) 136 2002 100% Tinidee Hotel Inn Ranong Freehold (TNDI) 46 2011 100% Layana Resort & Spa Koh Lanta, Freehold (LAYANA) Krabi 51 2011 100% Tinidee Golf Resort @ Phuket Phuket Freehold (TNDP) 45 2010 100% Leasehold Dusit Thani Maldives Maldives ended year (DMS) Island 95 2012 35% 2044 Royal Orchid Sheraton Bangkok Freehold (ROH) 726 2011 30% Hotel & Tourism-Operating Revenue 700.00 642 634 600.00 500.00 400.00 300.00 200.00 100.00 - 1H16 1H15 PPB DTKR LAYANA TNDR&TNDI TNDP Hotel & Tourism-EBIT 120.00 93 100.00 80.00 43 60.00 40.00 20.00 - 1H16 1H15 (20.00) PPB DTKR LAYANA TNDR&TNDI TNDP Golf Business Portfolio Golf Course Location Capacity MBK’s stake Loch Palm Golf Course (LPGC) Phuket 18 Holes 73% Red Mountain Golf Course (RMGC) Phuket 18 Holes 73% Riverdale Golf Course (RDGC) Pathum Thani 18 Holes 100% Lam Luk Ka Golf Course (LLKGC) Pathum Thani 36 Holes 45% Bangkok Golf Club (BKGC) Pathum Thani 18 Holes 100% Golf Business Portfolio Number of Golfers Q2/16 Q2/15 (Rounds) 2015 2014 LPGC 5,898 6,043 28,581 31,017 RMGC 3,764 4,090 19,229 21,172 RDGC 10,243 10,092 47,012 47,373 LLKGC 12,473 13,125 61,383 64,240 BKGC 17,226 18,276 73,590 - Golf-Operating Revenue 300.00 262 250.00 243 200.00 150.00 100.00 50.00 - 1H16 1H15 RDGC RMGC/LPGC BKGC Golf-EBIT 45.00 41 40.00 35.00 30.00 20 25.00 20.00 15.00 10.00 5.00 - 1H16 1H15 RDGC RMGC/LPGC BKGC Real Estate Business Portfolio Sold Backlog Project Number Unsold Year Total Amount % (To be tranfer) Project Name (Million of Sold Launched Units (Million of Sold (Million (Million Bath) (Units) (Units) (Units) Bath) Bath) Bath) HousingDevelopment (Phuket) The Indy II 2008 306 67 63 280 0.94 4 26 3 20 Sabai Village II 2011 519 106 103 501 0.97 3 18 1 6 Total 825 173 166 781 0.96 7 44 4 26 Housing Development (Chonburi) Baan Rom Mai 1 2013 150 78 77 149 0.99 1 1 0 0 Baan Rom Mai 2 2014 145 105 20 30 0.19 85 115 2 3 Baan Rom Mai 3 2015 338 355 20 21 0.06 335 317 19 20 Total 633 538 117 200 0.22 421 433 21 23 Land for sale (Phuket) Planery Zone 2 2011 57 11