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Central Plaza Hotel Pcl.16 March, 2017
Opportunity Day Presentation
Disclaimer
This presentation contains certain forward looking statements. Such forward looking statements arenot guarantees of future performance and involve risks and uncertainties, and actual results maydiffer 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 publiclyavailable sources and third party information providers. No representation or warranty is made asto the accuracy, completeness, or reliability of such information. This presentation should not berelied upon as any recommendation, view, opinion, representation or forecast of “Central PlazaHotel Plc.” Nothing in this presentation should be construed as either an offer to sell, a solicitationof an offer to buy or sell shares or any type of securities in any jurisdiction. This presentation is notintended to be any type of investment advice and must not be relied upon as such. You mustalways seek the relevant professional advice before otherwise making any such financial, legal orcommercial decisions.
2
Content
3
Financial Summary1
Business Performance2
Business Outlook3
Appendix4
68% 62% 70% 69%
32% 38% 30% 31%
4Q15 4Q16 FY15 FY16
48% 48% 47% 47%
52% 52% 53% 53%
4Q15 4Q16 FY15 FY16
Hotel Food
73% 68% 70% 68%
27% 32% 30% 32%
4Q15 4Q16 FY15 FY16
Consolidated Earnings: 4Q16 and FY16
4
Note: * Excluded deferred income from property fund
THB million 4Q15 4Q16 % Chg. FY15 FY16 % Chg.
Total Hotel revenue* 2,374.1 2,370.7 -0.1% 9,046.4 9,268.2 2.5%
Total Food Revenue 2,622.1 2,614.7 -0.3%10,169.
710,597.2 4.2%
Total Revenues 4,996.2 4,985.4 -0.2%19,216.
119,865.4 3.4%
EBITDA 1,023.8 1,103.4 7.8% 4,196.9 4,314.8 2.8%
EBITDA (%) 20.5% 22.1% - 21.8% 21.7% -
Reported Net Profit 289.9 415.9 43.5% 1,663.6 1,849.6 11.2%
EPS (Baht/ share) 0.21 0.31 47.6% 1.23 1.37 11.4%
Financial highlights:
Contribution by Business
Total Revenue
EBITDA
Net Profit After Tax
Financial Position as at 31 Dec 16
5
24,443
14,523
9,921
24,397
13,28011,117
Total Asset Total Liability Total Equity
31-Dec-15 31-Dec-16
Unit: Btmn
Balance Sheet Summary Summary of Debt Profile
Interest bearing debt (“IBD”) was Bt7,767mn with an average cost of debt of 3.6%.
L/T Loan, 75%
S/T Loan, 25%Float Rate, 35%
Fixed Rate, 65%
Key financial ratios 31-Dec-15 31-Dec-16
Net Debt*/Equity 1.18 0.90
IBD/Equity 0.88 0.70
*Total liabilities (excl. amortized deferred income from property fund) less cash
6
Hotel Business
Hotel Portfolios as at 31 Dec 16
7
Category 5 Stars 4 Stars 3 Stars EconomyIndependent
TravelersExtended Stay
Brands
In Operation Pipeline
No. of Hotels Thailand Overseas Total Thailand Overseas TotalGrand Total
Equity owned 12 2 14 2 - 2 16Joint Venture - - - - 1 1 1Property Fund 1 - 1 - - - 1Management contract
20 2 22 3 9 12 34
Total 33 4 37 5 10 15 52
In Operation Pipeline
No.of Rooms Thailand Overseas Total Thailand Overseas Total Grand Total
Equity owned 3,358 252 3,610 431 - 431 4,041
Joint Venture - - - - 550 550 550
Property Fund 202 - 202 - - - 202
Management contract
2,932 283 3,215 616 2,356 2,972 6,187
Total 6,492 535 7,027 1,047 2,906 3,953 10,980
54% 44%
46% 56%
In Operation In operation +current pipeline
No. of rooms by ownership
Management contract
92% 69%
8% 31%
In Operation In operation +current pipeline
No. of rooms by Location
Thailand Overseas
# of rooms 2017 2018 2019 Total
China 250 346 596
Cuba 245 245
Doha 357 804 1,161
Dubai 550 550
Laos 200 200
Oman 154 154
Thailand 151 716 180 1,047
Total Rooms
662 2,015 1,276 3,953
Total Hotels 3 7 5 15* incl. contracts on hand only / Cosi samui plan to open in 2017 and Cosi Pattaya in 2018
Hotels in pipeline by years of opening
Summary of Hotel Portfolios
Hotel Performance: 4Q16 and FY16 (1/2)
8
OCC (%) 4Q15 4Q16Chg(pt) FY15 FY16
Chg(pt)
Bangkok 80.9% 76.6% -4.2% 81.3% 81.2% -0.1%
Upcountry 79.2% 79.4% 0.2% 79.6% 81.8% 2.2%
Maldives 83.5% 88.0% 4.4% 81.5% 86.7% 5.1%
Average 80.0% 79.2% -0.7% 80.2% 81.9% 1.7%
ARR (THB) 4Q15 4Q16 Chg FY15 FY16 Chg
Bangkok 3,377 3,568 5.7% 3,248 3,394 4.5%
Upcountry 4,145 4,039 -2.5% 4,017 3,928 -2.2%
Maldives 20,237 19,218 -5.0% 19,133 19,262 0.7%
Average 5,033 5,025 -0.2% 4,809 4,851 0.9%
Revpar (THB) 4Q15 4Q16 Chg FY15 FY16 Chg
Bangkok 2,731 2,735 0.1% 2,642 2,755 4.3%
Upcountry 3,282 3,209 -2.2% 3,197 3,213 0.5%
Maldives 16,901 16,903 0.0% 15,602 16,698 7.0%
Average 4,024 3,980 -1.1% 3,858 3,975 3.0%
Bangkok:• Short term impact from mourning period;• Strong Revpar growth for Centara Grand@Central World
Upcountry:• Krabi and Samui reported strong Revpar growth;• Recovery of Russian favor Pattaya hotel;• Overall Revpar declined mainly from 2 location including:
• Phuket: challenging market due to high competition in 4 stars. 3-week close of Centara Grand Phuket in November also led to negative Revpar growth in 4Q.
• Huahin faced competition from overall market slow down and new supply in the market.
Maldives:• High Revpar growth in Centara Grand Maldives mainly
driven by volume. 4-star continued facing price competition.
Hotel Performance: 4Q16 and FY16 (2/2)
9
2,374 2,371
9,046 9,268
10. 0%
15. 0%
20. 0%
25. 0%
30. 0%
35. 0%
0
2,000
4,000
6,000
8,000
10,000
4Q15 4Q16 FY15 FY16
Note: Total revenue excluded deferred rental income from property fund
(Unit: Btmn)
0.1%
2.5%
Revenue
0.2%
745 745
2,951 2,934
31.4% 31.4% 32.6% 31.7%
10. 0%
15. 0%
20. 0%
25. 0%
30. 0%
35. 0%
0
1,000
2,000
3,000
4,000
4Q15 4Q16 FY15 FY16
(Unit: Btmn)
197 259
1,145 1,237
8.3%
10.9%12.7% 13.3%
0.0 %
2.0 %
4.0 %
6.0 %
8.0 %
10. 0%
12. 0%
14. 0%
0
400
800
1,200
1,600
2,000
4Q15 4Q16 FY15 FY16
EBITDA
31.3%
8.0%
(Unit: Btmn)
NPAT
4Q16 Highlights:• No revenue and EBITDA growth in 4Q, despite strong
recovery of Centara Grand Maldives. 3-week closure ofCentara Grand Beach Phuket and impact of mourning periodmainly explained the reason.
• Lower non operating costs such as interest and tax expensesand provision related to property fund helps drive the profitgrowth.
FY16 Highlights:• 2.5% revenue growth is mainly driven by growth from Centara
Grand Maldives, Centara Grand at Central Worlds, Centara GrandPhuket and Samui. Huahin and some Phuket hotels showed theloss in revenue yoy.
• 0.2% drop in EBITDA is mainly due to negative Revpar growth ofHuahin hotel and close of Centara Grand Phuket in November for3 weeks. Expecting proceeds from insurance claim in Q117.
• Net profit increase by 8% mainly from the saving on interest andtax.
Revenue Contribution by Location: FY16
30.7%
19.1%15.5% 12.7%
7.3% 6.6% 5.7%2.5%
29.9%
20.4%14.8% 12.3%
6.9% 6.9% 6.1%2.6%
Bangkok Maldives Phuket Pattaya Hua Hin Samui Krabi Others
FY15 FY16
10
FY16 Bangkok Maldives Phuket Pattaya Hua Hin Samui Krabi Hat Yai Tak Total
# Hotels 2 2 4 1 1 2 1 1 1 15
# Rooms 1,077 252 827 555 249 302 192 245 113 3,812
% of Total Rooms 28.3% 6.6% 21.7% 14.6% 6.5% 7.9% 5.0% 6.4% 3.0% 100%
Y-o-Y RevPar Growth 4.3% 7.0% -4.0% 0.8% -4.7% 6.5% 10.3% 5.2% 23.0% 3.0%
Tourist Arrivals Trend & Centara’s Key Sourced Markets
11
Source: TAT, BOT, * EIC (Siam Commercial Bank Pcl.)
22.526.5 24.8
29.932.6
35.361%
65%
56%
65% 67%70%
80%74%
80% 82%
10. 00%
20. 00%
30. 00%
40. 00%
50. 00%
60. 00%
70. 00%
80. 00%
90. 00%
0.0
10.0
20.0
30.0
40.0
50.0
60.0
2012A 2013A 2014A 2015A 2016A 2017F*
Tourist Arrivals
Tourist Arrivals
36%
9%
31%
3%
15%
3% 3%
38%
9%
32%
4%
13%
3% 2%
FY15 FY16
Centara’s Guest by Key Nationality
12
Food Business
Food Performance: 4Q16 & FY16
13
SSS TSS SSS TSS
% 4Q15 4Q16 4Q15 4Q16 FY15 FY16 FY15 FY16
Top 4 Brands
0.2% -6.1% 1.6% -2.2% -1.4% -1.2% 1.3% 2.3%
Others 0.6% 0.0% 3.8% 16.6% 6.1% 3.7% 7.5% 20.5%
Average 0.2% -5.6% 1.9% -0.1% -0.7% -0.7% 2.0% 4.3%
# of outlets KFC MD AA OTY PL CBT RYU CSC TT YO TEN KAT Total
2015 207 318 129 47 15 16 1 16 15 17 4 7 792
2016 219 328 139 44 21 16 - 19 12 15 5 12 830
Outlet Change 12 10 10 -3 6 - -1 3 -3 -2 1 5 38
4Q16 – Performance highlights
• SSS was lower than expectation due to: Low traffic in shopping malls No promotion or advertising
activity such as TV campaign during mourning period.
• Reported flat TSS even negative SSS as a result of outlet expansion in total of 24 outlets in 4Q16.
FY16 – Performance highlights
• SSS growth lower than expectation mainly related to big drop in Q4.
• TSS growth mainly driven from KFC, AA and PL
Summary of Key Performance Indicators
Food Performance: 4Q16 & FY16
14
2,622 2,615
10,170 10,597
10. 0%
15. 0%
20. 0%
25. 0%
30. 0%
35. 0%
0
2,000
4,000
6,000
8,000
10,000
12,000
4Q15 4Q16 FY15 FY16
(Unit: Btmn)
0.3%
4.2%
Revenue
4Q16 Highlights:• 0.3% decline in revenue was mainly due to negative
SSS growth of 5.6%, despite 24 net outletexpansion in this quarter.
• Big increase in EBITDA margin was related lowerA&P spending and lower provision on outletclosures.
FY16 Highlights:• 4.2% growth In revenue was mainly related to
outlet expansion. Net 38 outlets were added inFY16.
• Improvement of EBITDA margin was related tobetter cost management in particular lower A&Pduring 4Q and lower provision from outlet closures.
279 358
1,2461,381
10.6%
13.7% 12.3% 13.0%
0.0 %
2.0 %
4.0 %
6.0 %
8.0 %
10. 0%
12. 0%
14. 0%
0
400
800
1,200
1,600
4Q15 4Q16 FY15 FY16
EBITDA(Unit: Btmn)
28.6%
10.8%
Revenue Contribution by Brand: FY16
15
*Heavy food included Pepper Lunch, Chabuton, Ryu, The Terrace, Yoshinoya, Tenya and Katsuya
**Light food included Cold Stone and CRGM
FY16 KFC Mister Donut Ootoya Auntie Anne’sOther heavy
food*Other light
food**Total
#Outlets 219 328 44 139 81 19 830Y-o-Y growth
(#outlet)5.8% 3.1% -6.4% 7.8% 8.0% 18.8% 4.8%
55%
19%
8% 7% 9%2%
55%
17%
8% 7% 11%3%
KFC MD OOTOYA AA Other Heavy Food Other Light Food
FY15 FY16
Portfolio Allocation as at 31 Dec 16
16
Brands # Outlets
KFC 219
Mister Donut 328
Auntie Anne’s 139
Ootoya 44
Pepper Lunch 21
Cold Stone 19
The Terrace 12
Chabuton 16
Yoshinoya 15
Tenya 5
Katsuya 12
Total 830
3% in the West
7% in the North
58%in Central
10%in the East
14% in Northeast
8% in the South
Outlets and Revenue Contribution:35% of total outlets and 36% oftotal food revenue are fromBangkok
35%
Bangkok Contribution
36%
By Location By Revenue
17
Business Outlook
CAPEX Plan 2017
18
Note: Excluded JVs in Dubai and M&A Project
Ho
tel
Bu
sin
ess•Annual Renovation CAPEX
Bt500mn-Bt600mn
•Room Renovation at Centara Grand at Central World Bt170mn
•Cosi Samui Bt220mn
•Cosi Pattaya Bt340mn (total project cost Bt620mn)
Foo
d
Bu
sin
ess• Annual Renovation
CAPEX of Bt350mn
• New Outlet Expansion Bt590mn
• Others Bt160mn
Guidance 2017
Hotel FY16F FY16A FY17E
Occupancy 82 -83% 81.9% 81% - 82%
RevPar 4% - 5% 3.0% 3% - 4%
Revenue from operation 4% - 5% 2.5% 3% - 4%
19
Food FY16F FY16A FY17E
SSS 1% - 2% -0.7% 1% - 2%
TSS 5% - 6% 4.3% 5% - 6%
Outlet Expansion 4% 4.8% 4%
2017: Organic growth focusing on profit margin improvement plus potential upside from M&A
Remark:• Mourning period, close of Centara
Grand Phuket for 3 weeks in November 2016 resulted in lower growth than original forecast for both hotel and food. These negative factors mainly impacted Q4.
• FY17: expects ARR to drive growth instead of volume.
• SSS growth is expected to be 1-2%, given current state of economy.
20122016
2021
Development Highlight
20
Total 677 outlets
Target 830 outlets
Target > 1,100 outlets
Total 6,579 rooms Owned & JVs : Managed hotels
= 58:42
Total 7,566 rooms Owned & JVs : Managed hotels
= 50:50
Total >14,000 rooms Owned & JVs : Managed hotels
= 40:60
21
Appendix
Hotels in Operation as at 31 Dec 16 (1/3)
Owned and Property Fund Hotels Stars Opened # of Rooms % Owned Country
1 Centara Grand at Central Plaza Ladprao Bangkok 5 2Q83 565 100% Thailand
2 Centara Grand Resort & Villas Hua Hin 5 1Q86 249 64% Thailand
3 Centara Mae Sot Hill Resort 4 4Q89 113 100% Thailand
4 Centara Hat Yai 4 4Q95 245 100% Thailand
5 Centara Grand Beach Resort Samui 5 2Q96 202 25% in Property Fund Thailand
6 Centara Villas Samui 4 2Q00 100 100% Thailand
7 Centara Villas Phuket 4 2Q00 72 100% Thailand
8 Centara Grand Beach Resort & Villas Krabi 5 4Q05 192 100% Thailand
9 Centara Kata Resort Phuket 4 2Q06 158 100% Thailand
10 Centara Karon Resort Phuket 4 2Q06 335 100% Thailand
11 Centara Grand at CentralWorld 5 4Q08 512 100% Thailand
12 Centara Grand Mirage Beach Resort Pattaya 5 4Q09 555 100% Thailand
13 Centara Grand Island Resort & Spa Maldives 5 4Q09 112 74% Maldives
14 Centara Grand Beach Resort Phuket 5 4Q10 262 100% Thailand
15 Centara Ras Fushi Resort & Spa Maldives 4 1Q13 140 75% Maldives
Total Owned and Property Fund 3,812
22
Summary # of Properties # of Rooms
Owned & JV hotels 15 3,812
Managed hotels 22 3,215
Grand total 37 7,027Owned and JV hotels
Hotels in Operation as at 31 Dec 16 (2/3)
Managed Hotels Stars Opened # of Rooms
% Owned Country
16 Centara Chaan Talay Resort & Villas Trat 4 1Q08 44 - Thailand
17 Centara Hotel & Convention Centre Udon Thani 4 2Q10 259 - Thailand
18 Centara Q Resort Rayong 4 2Q10 42 - Thailand
19 Khum Phaya Resort, Centara Boutique Collection Boutique 3Q10 87 - Thailand
20 Waterfront Suites Phuket by Centara Residence 1Q11 39 - Thailand
21 Centara Anda Dhevi Resort & Spa Krabi 4 4Q11 135 - Thailand
22 Centara Pattaya Hotel 4 4Q11 152 - Thailand
23 Centara Nova Hotel & Spa Pattaya 4 4Q11 79 - Thailand
24 Centara Koh Chang Tropicana Resort 4 2Q12 157 - Thailand
25 Centra Coconut Beach Resort Samui 3 3Q12 55 - Thailand
26 Sandy Beach Non Nuoc Resort Danung Vietnam Managed by Centara 4 4Q12 118 - Vietnam
27 Centra Government Complex Hotel & Convention Centre Chang Wattana
3 4Q12 204 - Thailand
28 Centara Watergate Hotel & Spa Bangkok 4 2Q13 281 - Thailand
29 Centara Seaview Resort Khao Lak 4 2Q13 230 - Thailand
30 Centara Grand Phratamnak Pattaya 5 3Q13 165 - Thailand
23
22 Hotels under management contracts
Hotel in Operation as at 31 Dec 16 (3/3)
Managed Hotels Stars Opened # of Rooms
% Owned Country
31 Centra Central Station Bangkok 3 3Q13 150 - Thailand
32 The Blue Marine Resort & Spa Phuket managed by Centara Hotel & Resort
4 1Q14 266 - Thailand
33 Centara Ceysands Resort & Spa Srilanka 4 2Q14 165 - Sri Lanka
34 Centra Avenue Hotel Pattaya 3 4Q14 51 - Thailand
35 Centra Maris Resort Jomtien 3 1Q16 282 - Thailand
36 Centra Phu Pano Resort Krabi 3 4Q16 158 - Thailand
37 Centara Azure Hotel Pattaya 4 4Q16 96 - Thailand
Total Managed Hotel 3,215
Grand Total 7,027
24
22 Hotels under management contracts (cont’d)
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