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Copyright 2013 MK Restaurant Group Public Company Limited. All rights reserved. Any unauthorized use or disclosure is prohibited. The information
contained in our presentation is intended for general information purpose only. The information herein was obtained from various sources and is subject to
change without notice. We do not guarantee its accuracy or completeness.
Neither the information nor any opinion expressed constitutes an offer, or an invitation to make an offer, to buy or sell any securities or any options, futures
or other derivatives related to such securities.
In addition, this presentation includes statements of future expectations, projections or other forward-looking statements, which reflect our current views
with respect to future events and are not a guarantee of future performance. A number of important factors, risks and uncertainties could cause actual
results or outcomes to differ materially from those expressed in any forward-looking statement. Investors should seek financial advice regarding the
appropriateness of investing in any securities or investment strategies discussed in this presentation and should understand that statements regarding
future prospects may not be realized. Accordingly, we caution you not to rely unduly on these forward-looking statements. Past performance is not
necessarily a guide to future performance.
Disclaimer
4
Business Structure
Japanese restaurant: Yayoi
Registered Capital: 150 MB
Training services for MK
group
Registered Capital: 35 MB
Restaurants in Singapore
Registered Capital: SGD12.5 Million (~ 320 MB)
MK Restaurants in Japan
Registered Capital: JPY250 Million (~80 MB)
12%
MK Interfoods Co., Ltd.
“MKI”
MK Services Training Center
Co., Ltd.
“MKST”
Plenus & MK Pte. Ltd.
“Plenus & MK”(Joint Venture)
Plenus MK Co., Ltd.
“Plenus MK”(Joint Venture)
50%100%100%
Suki restaurant : MK Suki, MK Gold
Thai restaurant : Na Siam, Le Siam
Japanese restaurant : Hakata, Miyazaki
Coffee shop & Bakery : Le Petit
Franchise
MK Restaurant Group Plc.
“M”
5
International Restaurant
Thai RestaurantJapanese RestaurantHot Pot Restaurant
Diversified Presence in Several Restaurant Segments
Our Restaurants
Leading Position in Hotpot and Japanese Restaurant Segments
an
Vietnam
Japan
Japan
an
Singapore
an
Indonesia
Other Restaurant
6
Restaurant Outlets in Thailand
Type of Business Restaurants Brand No. of Outlets Average Spending (THB)
Suki Restaurant MK 357 265
MK Gold 6 456
Japanese Restaurant Yayoi 104 220
Miyazaki 2 290
Hakata 1 225
Thai Restaurant Na Siam 1 235
Le Siam 2 456
Coffee Shop & Bakery
Le Petit 1 277
7
149 157 172 172
141 157182 191
2010 2011 2012 3Q2013Bangkok & Metropolitan area Provincial area
Leader in chained restaurant industry with nationwide branches coverage
Dominant Position in Chained Restaurant Industry
Extensive Coverage Nationwide
North
MK & MK Gold 19
Yayoi 3
West
MK & MK Gold 16
Yayoi 3
North East
MK & MK Gold 46
Yayoi 10
South
MK & MK Gold 41
Yayoi 4
East
MK & MK Gold 40
Yayoi 9
BKK & Greater BKK
MK & MK Gold 172
Yayoi 66
Central
MK & MK Gold 29
Yayoi 9
Branches
Japan
MK 34
Japan
an
MK 4
Vietnam
an
MK 1 / Yayoi 4
Singapore
an
MK 1
Indonesia
53%
47%
354290 314
363
33 4261 66
1822
3038
2010 2011 2012 Q3' 2013
Bangkok & Metropolitan area Provincial area
37%
63%
91
5164
104
8
Reputable Management Teams with Almost 30 Years of Experiences &
Focusing in Restaurant Business
0%
2%
4%
6%
8%
10%
12%
14%
16%
18%
-
2,000
4,000
6,000
8,000
10,000
12,000
14,000
1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
Revenues %Net Profit Margin
100 MK
restaurant
branches
200 MK
restaurant
branches
300 MK
restaurant
branches
Expand
business to
Japan -
franchise
Expand
business to
Vietnam -
franchise
Expand to
Japanese
restaurant
under
“Yayoi”
Expand
business to
Singapore
Expand
business to
Indonesia -
franchise
Million
10
Gross Profit MarginGross Profit
Revenue ContributionRevenues
67% 67% 68% 67%67% 67% 67% 67%
Q1 Q2 Q3 9M
2012 2013
Revenues Growth
THB Million
MK
85%
Yayoi
14%
Others
1%
2,988 3,381 3,307
9,676
3,416 3,638 3,575
10,629
0
2,000
4,000
6,000
8,000
10,000
12,000
Q1 Q2 Q3 9M
2012 2013
+8% YoY
+10% YoY
1,977 2,244 2,221
6,441
2,273 2,394 2,354
7,021
Q1 Q2 Q3 9M2012 2013
THB Million
In 3rd quarter, revenues grew 8% while gross profit grew 6%, mainly from branch expansion
+6% YoY
+9% YoY
11
Net Profit Margin
Net Profit
554 538 503
1,595
486 481 529
1,496
0
500
1,000
1,500
2,000
Q1 Q2 Q3 9M
2012 2013
19%16%
15%16%
14%13%
15%14%
Q1 Q2 Q3 9M
2012 2013
EBITDA & Net Profit
THB Million
EBITDA
841 817 782
2,440
751 749 810
2,310
0
500
1,000
1,500
2,000
2,500
Q1 Q2 Q3 9M
2012 2013
THB Million
In 3rd quarter, EBITDA & Net Profit grew 3% and 5% YoY respeictively
EBITDA Margin
28%24%
24%25%
22% 21%23% 22%
Q1 Q2 Q3 9M
2012 2013
+3% YoY
-5% YoY
+5% YoY
-6% YoY
12
33%
26%
9%
-4% -4%
5% 7%
1Q12 2Q12 3Q12 4Q12 1Q13 2Q13 3Q13
6%
14%
6%
-2%2%
-4% -4%
1Q12 2Q12 3Q12 4Q12 1Q13 2Q13 3Q13
No. of Customers & SSSG
Negative Same-Store Sales Growth primarily due to the economic slowdown
12.0 13.5 12.6
38.1
12.8 13.6 12.6
39.0
Q1 Q2 Q3 9M
2012 2013
No. of
Customers
Same-Store
Sales
Growth
Same-Store
Sales
Growth
13
Private Consumption Index (PCI) vs. MK’s SSSG
-5%
0%
5%
10%
15%
20%
Q1-10 Q2-10 Q3-10 Q4-10 Q1-11 Q2-11 Q3-11 Q4-11 Q1-12 Q2-12 Q3-12 Q4-12 Q1-13 Q2-13 Q3-13
PCI SSSG
Source: PCI data from BOT Website
14
D/E Ratio
Liabilities & Shareholders’ EquityTotal Assets
Financial Position as at September 2013
THB Million
1,3334,219
3,753
9,763
0
2,000
4,000
6,000
8,000
10,000
12,000
14,000
16,000
31-Dec-12 30-Sep-13
Current Assets Non Current Assets
5,086
13,982
3,6152,026
1,471
11,955
0
2,000
4,000
6,000
8,000
10,000
12,000
14,000
16,000
31-Dec-12 30-Sep-13
Total Liabilities Shareholders's Equity
THB Million
5,086
13,982
2.46
0.17
31-Dec-12 30-Sep-13
Current Ratio
Liquidity is at a comfortable level as well as strong capital base to support growth
0.39
2.30
31-Dec-12 30-Sep-13
16
Continued expansion strategy with shopping complexes, modern trade stores and community malls covering
nationwide
Outlet Expansion
35
20
9
MK Yayoi Others
10
21
30
55
1Q13 2Q13 3Q13 4Q13
MK Yayoi Others Accum.
No. of New
Outlets 2013
No. of New
Outlets 2014
19
Continuous Growth Plan
Medium Term Outlook
2013
2017 Target
International expansion
MK: 10 branches
Yayoi: 15 branches
2017
2013 Plan
65 branches expansion
(MK: 45 and Yayoi: 25)
New factory (CK5) @ 27,000 sq. m.
with budget of THB 1,000 mm
New office @ 5,500 sq. m.
with budget of THB 320 mm
2013 YTD Progress
MK: 16 branches
Yayoi: 13 branches
New factory (CK5) is estimated to be
completed by February 2014
Completion of new head office
construction
Expansion Plan
Domestic:
Focus on MK and Yayoi brand, particularly in suburban area
Feasibility study and market testing for the expansion of Hakata
and Miyazaki
Potential to acquire sizeable brand that is scalable by leveraging
on M’s infrastructure (i.e., central kitchen and logistic network)
M has cash from IPO proceed that could be use to fund the new
brand acquisition
International:
Continue to test the possibility to expand internationally through
JV or franchise with partner who understands local market
Potential to acquire established international chained restaurant