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MINT: Minor International Public Company Limited | Annual Report

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MINT: Minor International Public Company Limited | Annual Report 2013 Annual Report “ Driving to Unlock the Potential” Hospitality Direct-Owned Managed/Franchised Anantara Resorts & Spas, Anantara Resorts & Spas, Anantara Resorts & Spas, Anantara Resorts & Spas, Anantara Resorts & Spas, Thailand Maldives Middle East Bali China Our award winning Anantara In the exciting market of With three new management In Bali, our two Anantara Our two newly-opened brand has 12 properties the Maldives, our six resorts, contracts in 2013, we now resorts combined achieved Anantara resorts in China located throughout Thailand. including the three Anantara, manage a total of 6 Anantara a 29% increase in sales. achieved total sales of In 2013, we achieved a 17% a Naladhu and two Per hotels in the Middle East. RMB 47 million. increase in total-system-sales. AQUUM, reported total Total sales in 2013 increased sales of USD 100 million. by 68% from last year. Sales Sales Sales Sales Sales Baht Million USD Million AED Million IRP Million RMB Million 2,943 72 197 101 47 64 2,525 78 65 1,598 117 33 82 4 2011 2012 2013 2011 2012 2013 2011 2012 2013 2011 2012 2013 2011 2012 2013 Anantara Vacation Club Oaks Hotels & Resorts Per AQUUM, Maldives, UAE Elewana Collection, Africa Naladhu We launched Anantara With 47 properties and over We invested 50% stake in Elewana Collection opened its Naladhu, a 19-key boutique Vacation Club in late 2010. 5,000 rooms, Oaks continues the luxury boutique hotel first bush camp, Sand River hotel in the Maldives, reported In 2013, its third year of to be a major contribution brand ‘Per AQUUM Retreats Masai Mara in Kenya in 2013, sales of USD 6 million in 2013. operation, the revenues to our hospitality portfolio. • Resorts • Residences’ in bringing total number of increased by 57% from 2012. We will continue to mid-2013, and subsequently hotels under the brand to 8. expand Oaks in Australia, invested 50% in one of the New Zealand, the Middle East properties, NIYAMA in the and Thailand. Maldives. Sales Sales Sales Sales Sales USD Million AUD Million USD Million USD Million USD Million 13 6 80 165 27 12 12 6 152 5 51 82 19 2011 2012 2013 2011 2012 2013 2011 2012 2013 2011 2012 2013 2011 2012 2013 Direct-Owned Managed/Franchised Anantara Resorts & Spas, Anantara Resort & Spa, AVANI Hotels & Resorts, AVANI Hotels & Resorts, AVANI Hotels & Resorts, Vietnam Cambodia Sri Lanka Vietnam Malaysia Our four hotels in Vietnam, We acquired our first AVANI brand was launched We acquired a property AVANI launched its first including two Anantara and Anantara resort in Cambodia in late 2011, with the first in Vietnam in 2013. management contract hotel two AVANI hotels, reported in September 2013. hotel in Sri Lanka. Total sales In the same year, in Malaysia in 2013. The total sales of USD 12 million, in Sri Lanka increased by we rebranded that property, property reported sales of a 142% increase. 35% in 2013. together with another existing MYR 55 million. joint-venture property in Haiphong to AVANI. Sales Sales Sales Sales Sales USD Million USD Million LKD Million USD Million MYR Million 8 0.3 842 3.4 55 626 5 2 2011 2012 2013 2011 2012 2013 2011 2012 2013 2011 2012 2013 2011 2012 2013 St. Regis Four Seasons Marriott Royal Garden Plaza MSPA International The St. Regis Bangkok was Our award winning Four Our Marriott hotel in Pattaya Our three shopping centers are With more than 45 spas in opened in 2011 at one of Seasons Hotels in Bangkok, and JW Marriott resort in located next to our hotels in 12 countries, our spa business Bangkok’s most prestigious Chiang Mai, Samui and Phuket combined generated Phuket, Pattaya and Bangkok. generated sales of Baht 590 locations. In addition, sales Chiang Rai combined revenues of Baht 1,389 The plaza in Bangkok was million last year. of St. Regis Residences have achieved revenues of Baht million in 2013. closed for renovation since almost been completed. 2,517 million in 2013. 1Q13. Sales Sales Sales Sales Sales Baht Million Baht Million Baht Million Baht Million Baht Million 644 2,517 1,389 726 590 600 1,281 1,345 700 701 527 2,204 480 1,767 212 2011 2012 2013 2011 2012 2013 2011 2012 2013 2011 2012 2013 2011 2012 2013 Restaurants Direct-Owned Managed/Franchised The Pizza Company Swensen’s Thai Express The Coffee Club & Riverside Ribs and Rumps Our 193 company-owned With 125 company-owned Thai Express and related We acquired 49% of and 110 franchised outlets and 173 franchised outlets, brands including Xin Wang The Coffee Club, which is Riverside, a distinctive chain of saw system-wide sales Swensen’s posted a 7% Hong Kong Café and New 95% franchised, together casual-concept restaurants in increase by 3% to increase in system-wide sales York New York reported sales with Ribs and Rumps, posted China, specializing in Sichuan Baht 6,011 million in 2013. to Baht 3,611 million in 2013. of SGD 124 million in 2013. system-wide sales that were barbecue fish, at the end of up 11% to AUD 447 million 2012. in 2013. Sales Sales Sales Sales Sales Baht Million Baht Million SGD Million AUD Million RMB Million 5,871 6,011 3,389 3,611 124 447 269 5,110 105 109 405 2,848 334 193 2011 2012 2013 2011 2012 2013 2011 2012 2013 2011 2012 2013 2011 2012 2013 Sizzler Dairy Queen Burger King Select Service Partner Minor Dairy Limited & Limited Minor Cheese Limited 51 Sizzler outlets in Thailand 249 company-owned and 36 company-owned Burger and China combined reported 119 franchised Dairy Queen King outlets reported 2013 Our restaurant business in Sales from our ice cream sales that were up 7% to Baht outlets in Thailand achieved sales of Baht 1,208 million. airports experienced a 10% and cheese factories 2,575 million in 2013. sales of Baht 1,876 million in increase in revenue in 2013. combined were up 2013. by 2% in 2013. Sales Sales Sales Sales Sales Baht Million Baht Million Baht Million Baht Million Baht Million 2,414 2,575 1,876 1,208 927 1,624 1,657 2,247 1,595 1,056 846 1,431 953 717 1,202 2011 2012 2013 2011 2012 2013 2011 2012 2013 2011 2012 2013 2011 2012 2013 Retail Direct-Owned Esprit Bossini GAP Charles & Keith Pedro Our largest fashion brand 2013 sales of this leading Sales of Gap increased by 8% Sales of Charles & Keith Pedro offers a wide range of reported sales of Baht fashion brand were Baht to Baht 486 million in 2013. footware increased by 48% modern luxury footwear and 656 million in 2013. 252 million. to Baht 637 million in 2013. accessories. In its second year of operation, sales increased by 63% to Baht 36 million in 2013. Sales Sales Sales Sales Sales Baht Million Baht Million Baht Million Baht Million Baht Million 656 252 486 637 36 592 639 241 234 452 349 431 22 246 2011 2012 2013 2011 2012 2013 2011 2012 2013 2011 2012 2013 2011 2012 2013 Red Earth Zwilling J.A. Henckels ETL Learning Tumi NMT (Navasri Manufacturing) Our leading cosmetics brand Sales from our luxury Sales of ETL Learning were The world’s premier luggage achieved sales of Baht household supplies and Baht 181 million in 2013. brand anchors our line of Our contract manufacturing 76 million in 2013. kitchenware brand were luxury lifestyle brands. It sales business which supplies global Baht 56 million in 2013. increased by 36% in 2013. FMCG companies has sales of Baht 1,162 million in 2013. Sales Sales Sales Sales Sales Baht Million Baht Million Baht Million Baht Million Baht Million 71 73 76 56 220 79 1,104 1,162 184 181 1,024 39 40 58 39 2011 2012 2013 2011 2012 2013 2011 2012 2013 2011 2012 2013 2011 2012 2013 Contents 5 Vision and Core Values 6 Minor International Footprint 8 Financial Highlights 9 Financial Status at a Glance 10 Message from Chairman 18 Message from Chief People Officer 20 People Our Greatest Assets 26 Hospitality Business 40 Restaurant Business 50 Retail Business 56 Driving Forward Sustainability Development 60 Awards 2013 64 Report of the Board of Director’s Responsibilities for Financial Statements 65 Report of the Audit Committee 67 Auditor’s Report 68 Financial Statements 197 Management Discussion & Analysis 215 Connected Transactions 229 Nature of Business 230 Major Events in 2013 232 Risk Factors 237 Good Corporate Governance 252 Shareholders’ Structure and Management 263 Dividend Policy 264 Subsidiaries, Associated and Affiliated Companies 286 Corporate Information Vision To be a Leading Hospitality and Restaurant Operator and Lifestyle Brand Retailer through the delivery of branded products and services that provide 100% satisfaction to all stakeholders. Delivering premium branded hospitality services, restaurant concepts and lifestyle products globally. Every year, over 45,000 service professionals at 103 hotels, 1,544 restaurants and 276 retail outlets have the pleasure of serving more than 90 million customers in 26 countries. Core Values Customer Focus Result Oriented People Development Innovative Partnership Anantara Angkor 006 2013 Annual Report Minor International Footprint 26 103 12,800 Countries Hotels Hotel Keys Asia Korea China India Laos Thailand Vietnam Philippines Cambodia Sri Lanka Malaysia Maldives Singapore Indonesia Hospitality Restaurant Retail Trading Minor International Public Company Limited 007 Over 1,544 276 45 Restaurants Retail Points of Sale Awards Received Oceania New Caledonia Australia New Zealand Middle East Jordan Kuwait Bahrain UAE Saudi Arabia Oman Africa Egypt Kenya Tanzania Mozambique 2009 2010 2011 Restate 2013 2012 008 2013 Annual Report Financial Highlights 2009 2010 2011 2012 2013 Restated Consolidated Net Sales 16,460 18,140 26,137 31,310 34,669 (Baht million) Total Revenues 17,244 19,089 28,332 32,994 36,936 Gross Profit 10,671
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