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Opportunity Day Presentation 4Q12 Central Plaza Hotel Public Company Limited
March 14, 2013
Disclaimer
CENTEL's Opportunity Day 4Q12 2
This presentation contains certain forward looking statements. Such forward looking statements are not guarantees of future
performance and involve risks and uncertainties, and actual results may differ 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 publicly available sources and third party information providers. No representation or warranty is made as to the accuracy,
completeness, or reliability of such information. This presentation should not be relied upon as any recommendation, view,
opinion, representation or forecast of “Central Plaza Hotel Plc.” Nothing in this presentation should be construed as either an
offer to sell, a solicitation of an offer to buy or sell shares or any type of securities in any jurisdiction. This presentation is not
intended to be any type of investment advice and must not be relied upon as such. You must always seek the relevant
professional advice before otherwise making any such financial, legal or commercial decisions.
Agenda
CENTEL's Opportunity Day 4Q12 3
o 4Q12 Financial Summary
o Performance by Business
o Hotel Business
o QSR Business
o Medium Term Outlook
4Q12 Financial Summary
CENTEL's Opportunity Day 4Q12 4
Centara Hotel and Convention Centre Khaonkaen
Centara Paste Lafayette Resort & Spa, Maldives
THB million 4Q11 4Q12 % chg FY11 FY12 % chg
Hotel revenue 1,165 1,829 57.0 4,904 6,473 32.0
Food Revenue 1,859 2,247 20.9 6,551 8,356 27.6
Total Revenues 3,024 4,076 34.8 11,455 14,829 29.5
Total Cost & Expense (Excl depreciation) 2,485 3,283 32.2 9,184 11,725 27.7
Equity Gain (Loss) 36 28 -22.5 78 59 -24.2
Total EBITDA 575 821 42.6 2,349 3,164 34.7
EBITDA margin (%) 19% 20% 20.5% 21.3%
Net Profit (Loss) before extra items 98 295 201.3 505 1,070 111.8
Extra-equity gain in PFPO 16 10 -37.0 19 (7) -138.8
Loss on guarantee provision PFPO (64) (40) 37.0 (74) (40) 45.2
Gain from business combination - CKR - 458 na - 458 na
Amortization of deferred rental income 25 25 - 100 100 -
Net Profit after extra items 75 748 896.7 550 1,581 187.2
EPS (Baht per share) 0.1 0.6 823.1 0.4 1.2 185.4
-75%
83%
6%
66% 175%
17%
94% 34%
-50%
0%
50%
100%
4Q11 4Q12 FY11 FY12
47% 66%
54% 64%
53% 34%
46% 36%
0%
20%
40%
60%
80%
100%
4Q11 4Q12 FY11 FY12
39% 45% 43% 44%
61% 55% 57% 56%
0%
20%
40%
60%
80%
100%
4Q11 4Q12 FY11 FY12
Consolidated Earnings: 4Q12 and FY12
CENTEL's Opportunity Day 4Q12 5
Financial highlights:
• Total revenue in 4Q12 and FY12 grew by 34.8% and 29.5%, respectively. Significant growth in
hotel is noted in particular 4Q12 compared to relatively low revenue base last year (impact of
flood). Significant improvement in hotel performance has led to the strong growth in net profit in
4Q12 and FY12.
• Significant non-recurring items in 4Q12 include:
• One time accounting gain of Bt458.2mn from an acquisition of additional 34% share in Centara
Karon in March 2012 (increase in shareholding from 50% to 84%). • Loss on guarantee provision of property fund in total of Bt40.4mn
Total revenue by business
EBITDA by business
Net profit by business
4Q11 4Q12
Food Hotel
FY12
Note: Revenue and EBITDA before amortization deferred rental income from property fund
FY11
Summary of financial position as at 31 December 2012
CENTEL's Opportunity Day 4Q12 6
19,921
25,768
1,763
1,989
31-Dec-11 31-Dec-12
Non-current assets Current assets
Assets (THB million)
21,684
27,757 +28.0%
6,049 10,059
15,635
17,698
31-Dec-11 31-Dec-12
Shareholders'Equity Total liabilities
Liabilities & Shareholders’ Equity (THB million)
+66.3%
+13.2%
21,684
27,757
+29.4%
+12.8%
o Total asset increased by Bt6,074mn to Bt27,757mn (or 28%) between period mainly due to the consolidation of assets of Centara Grand Maldives, Centara Maldives and Centara Karon, Phuket (Bt3,034mn) and an increase in value of assets as a result of asset revaluation (Bt2,120mn).
o Total liabilities increased by Bt2,063mn to Bt17,698mn (or13%) primarily due to the consolidation of liabilities of Centara Grand Maldives, Centara Maldives and Centara Karon, Phuket (Bt1,738mn).
o Shareholders’ equity rose by 66% Bt10,059mn contributed from both increase of net profit and asset revaluation.
+28.0%
60.2
2,558.4
1,036.1
1,400.0
62.0
5,163.5
1,800.0
31.0
Interest Bearing Debt (THB million)
Bank overdraft
Short-term loan
Current portion of Long-term
loans
Current portion of Debenture
Current portion of PPF2
Long-term loans
S-T LOANS (42.2%) = 5,116.7 MB L-T LOANS (57.8%) = 6,994.5 MB
FIXED-RATE LOAN (39.3%) = 4,758.4 MB FLOAT-RATE LOAN (60.7%) = 7,352.8 MB
Debt Structure as at 31 December 2012: Total loans of 12,111.2MB with average cost of debt of 4.42%
7
Note: *- Excluding interest bearing debt of Joint venture, Centara Kata, Phuket
2012 2011
Interest bearing Debt/ Equity 1.2x 1.7x
CENTEL's Opportunity Day 4Q12
Hotel Business
CENTEL's Opportunity Day 4Q12 8
Centara Grand Resort & Spa, Pattaya
Our Hotel Portfolios 56 hotels, including 34 hotels in operation at the end of 2012 and 22 hotels under development
India 30 Keys
Maldives 362 Keys Bali
354 Keys Mauritius 268 Keys
Vietnam 1,034 Keys
China 125 Keys
Thailand 8,215 Keys
Srilanka 517 Keys
o Total 56 hotels & resorts with 10,905 keys o 14 owned and 1 JV hotels and 41 hotels under
management contracts (of which 20 hotels are currently in operation and 21 are under construction).
CENTEL's Opportunity Day 4Q12 9
Hotel Portfolios at the end of 2012: Total 34 hotels in operation with total 6,579 keys (including 12 owned properties, 1 JVs, 1 Property Fund and 20 hotels under management contract).
10
Hotel Name #Rms Country
Owned Hotel
1 Centara Grand at CentralWorld 512 Thailand
2 Centara Grand Ladprao 565 Thailand
3 Centara Grand Hua Hin 249 Thailand
4 Centara Grand Phuket 262 Thailand
5 Centara Grand Krabi 192 Thailand
6 Centara Grand Mirage Pattaya 555 Thailand
7 Centara Villas Phuket 72 Thailand
8 Centara Karon Resort Phuket 335 Thailand
9 Centara Mae Sot Hill Resort 113 Thailand
10 Centara Hat Yai 245 Thailand
11 Centara Villas Samui 100 Thailand
13 Centara Grand Maldives 112 Maldives
Property Fund Hotel
12 Centara Grand Samui 202 Thailand
Joint Venture Hotel
14 Centara Kata Resort Phuket 158 Thailand
Managed Hotel
15 Khum Phaya Resort, Boutique 87 Thailand
Hotel Name #Rms Country
16 Centara Udon Thani 259 Thailand
17 Centara Chaan Talay, Trat 44 Thailand
18 Centara Duangtawan Chiang Mai 512 Thailand
19 Centara Sappaya, Rayong 13 Thailand
20 Centra Ashlee Hotel Patong 110 Thailand
21 Away Suansawan Chiang Mai, Boutique 50 Thailand
22 Centara Anda Dhevi, Krabi 138 Thailand
23 Centara Plaza Hotel Pattaya 152 Thailand
24 Nova Hotel & Spa Pattaya, Boutique 79 Thailand
25 Chen La Resort & Spa Phu Quoc, Boutique 108 Vietnam
26 Waterfront Suites Phuket 39 Thailand
27 Centra Tuam Resort Bali 90 Indonesia
28 Centara Grand West Sands, Phuket 316 Thailand
29 Centara Hotel Khonkaen 196 Thailand
30 Centara Sandy Beach Da Nang Vietnam 198 Vietnam
31 Centara Koh Chang Resort 157 Thailand
32 Centara Poste Lafayette, Maurittius 100 Maurittius
33 Centra Government Complex 204 Thailand
34 Centra Coconut Beach Samui 55 Thailand
CENTEL's Opportunity Day 4Q12
Hotels in Pipeline 22 hotels with 3,749 rooms under develpment, comprising:
1 owned hotel in Maldives (CENTEL’s holding 75%); and
21 hotels under management contracts
2013 2014 2015
# of hotels 13 8 1
# of rooms 2,085 1,544 120
Thailand
Hotel 5 5 1
Rooms 1,170 1,186 120
Overseas (hotels/ rooms)
Hotel 8 3 -
Rooms 915 358 -
Thailand/ Overseas (by no. of rooms) ** 56:44 77:23 100:0
Note: ** Overseas properties are located in India, Mauritius, Bali, Srilanka , Vietnam and China.
11 CENTEL's Opportunity Day 4Q12
0.3%
20%
32%
23%
57%
20%
32%
4Q11 1Q12 2Q12 3Q12 4Q12 FY11 FY12
-100.00%
-80.00%
-60.00%
-40.00%
-20.00%
0.00%
20.00%
0
500
1,000
1,500
2,000
2,500
3,000
3,500
4,000
4,500
5,000
5,500
6,000
6,500
7,000
FY11 FY12
23.0%
42.9%
24.5% 20.1%
29.5%
-50.00%
-40.00%
-30.00%
-20.00%
-10.00%
0.00%
10.00%
20.00%
30.00%
40.00%
50.00%
0
500
1,000
1,500
2,000
2,500
3,000
4Q11 1Q12 2Q12 3Q12 4Q12
Room F&B Other Income EBITDA margin (%)
Total Hotel Revenue and EBITDA
1,821
1,380 1,439
Hotel: Financial Snapshot 4Q12 and
FY12
CENTEL's Opportunity Day 4Q12 12
o In 4Q12, total revenue grew by 57.0% yoy
or Bt664mn to Bt1,829mn. Significant
revenue growth is noted from all
properties, in particular properties in
Bangkok, Pattaya and Hua Hin. This has let
to improvement of EBITDA margin from
23% in 4Q11 to 29.5% in 4Q12.
o In FY12, total revenue rose by 32.0% or
Bt1,567mn to Bt6,473mn. Revenue growth
was derived from all major properties
Consolidation of revenue from Centara
Karon since March 2012 has contributed
about 18% of total revenue growth. Strong
revenue growth has led to EBITDA margin
improvement from about 26% to 31% in
2012.
1,829
31.2%
6,473
Total Hotel Revenue growth yoy
Note: Total revenue excluded amortization form property fund and non recurring items
4,904
1,165
25.9%
Hotel’s KPI by Brand
KPIs by Brand 4Q11 4Q12 Chg FY11 FY12 Chg
OCC by Brand
• Grand 61.2% 76.0% 14.8% 64.6% 71.4% 6.8%
• Centara 72.0% 71.9% -0.1% 62.1% 66.3% 4.1%
Average OCC 64.3% 74.8% 10.6% 63.9% 69.9% 6.0%
Average Room Rate
• Grand 4,284 4,380 2.2% 4,197 4,270 1.7%
• Centara 2,389 2,445 2.4% 2,328 2,352 1.0%
Average ARR 3,679 3,844 4.5% 3,663 3,744 2.2%
RevPar
• Grand 2,621 3,330 27.0% 2,712 3,047 12.4%
• Centara 1,719 1,757 2.2% 1,447 1,559 7.7%
Average RevPar 2,364 2,877 21.7% 2,340 2,617 11.8%
CENTEL's Opportunity Day 4Q12 13
o In 4Q12, RevPar grew significantly by
22% yoy to Bt2,877. High occupancy
in particular for properties in
Bangkok, Phuket and Hua Hin, and
growth in ARR for property in Pattaya
and Centara Grand at Central World
were the key driver for the Revpar
growth in 4Q12.
o In FY12, RevPar rose by about12%
yoy to Bt2,617 primary driven by
growth in most properties in
particular property in Bangkok,
Pattaya and Phuket.
Note: figures represented owned and joint venture hotel in Thailand only
Revenue Contribution by Location o In 2012, 38% of revenue was generated from properties in Bangkok. With the consolidation of Centara Karon, Phuket
(increased in shareholding from 50% to 84% since March 2012), revenue contribution from Phuket increased from 13% in 2011 to 17% in 2012.
Note: - Excluded other income and revenue from JVs
Bangkok
35%
Hua Hin
11%
Hat Yai
4%
Krabi
8%
Pattaya
19%
Phuket
13%
Samui
9%
Tak
1%
Revenue by Location 2011 VS 2012
2011
Bangkok 38%
Hua Hin 9% Hat Yai
3% Krabi 7%
Pattaya 17%
Phuket 17%
Samui 8%
Tak 0.5%
Maldives 1%
2012
14 CENTEL's Opportunity Day 4Q12
Tourism market: Number of International Tourists arrivals continue to rise
o Asians (East and South Asia) are the major international arrivals to Thailand accounting for about 62% of total tourist arrivals, followed by European (about 25%).
o In 2012, top 3 tourist arrival growth by source were from China (+62% ), Russia (+25%) and Japan (22%).
7.6 7.1 8.2 10.3
12.5
24.0
4.0 4.1 4.4
4.9 5.6
56% 49% 51% 58%
61%
64% 61% 58% 64% 70%
-150.00%
-100.00%
-50.00%
0.00%
50.00%
100.00%
0.0
5.0
10.0
15.0
20.0
25.0
30.0
35.0
40.0
2008A 2009A 2010A 2011A 2012A 2013E
East Asia Europe Americas South Asia Oceania Middle East Africa Market OCC Centel OCC
Airport Closure April Riot Rajprasong Protest
Mill
ion
Per
son
s
Flooding in Central of Thailand
14.6 14.1 15.9
19.1
Source: BOT and TAT
East Asia, 56%
Europe, 25%
Americas, 5%
South Asia, 6%
Oceania, 5% Middle East, 3%
Africa, 1%
International Arrivals: 2012
TAT’s Estimated
Number of International Arrivals
Nationality 2011 2012 % ∆ yoy
East Asia 10.3 12.5 20.8
Europe 5.1 5.6 10.1
The Americas 1.0 1.1 13.4
South Asia 1.2 1.3 11.4
Oceania 0.9 1.0 12.1
Middle East 0.6 0.6 0.6
Africa 0.1 0.2 17.4
Total 19.2 22.3 16.0
22.3
CENTEL's Opportunity Day 4Q12 15
Thailand 17%
Asia 21%
Europe 40%
Australia 12%
Middle East 3%
USA 2%
Others 5%
Centara’s Feeder Market
o For 2012, trend of market mixes move in line with the movement international tourist arrival patterns.
o We target to continue penetrating in our traditional market (European) whist seeking an opportunity to gain market share in growth market. It’s our policy not to rely on any single market.
Note: By number of Room Nights Russia is included in Europe Others include Latin America, Canada, South America, etc.
Guest Mixes by Number of Room Night 2011 vs 2012
2008
Thailand
18%
Asia
20%
Europe
42%
Australia
10%
Middle East
3%
USA
2%
Others
5%
2011 2012
16 CENTEL's Opportunity Day 4Q12
Market Overview
CENTEL's Opportunity Day 4Q12 17
Bangkok
• MICE is on a positive trend but mostly from Asian regional markets
• Currently benefit from some major MICE events booked a long time ago which helps to bolster numbers as some time last year was supplements by business moved from the flood period
Pattaya
• Remain extremely strong overall and yielding takes place daily to maximize remaining inventory
• Russians dominate this month, given their demand for the destination, willingness to pay higher rates and their extended new year holiday through 7 January
Krabi
• Continues to enjoy a good mix demand which helps to drive rate
• However still some inventory to fill in March and pressure on rates from other resort discounting
Samui
• Most markets are commenting growing demand for the destination in 2013 on the back of better overall rates in the market (over supply) and a small shifting of air capacity upwards.
Phuket
• Q1/2013 demand continues strong
• Overall worrying trends for Phuket as more traditional source markets decide to move towards Krabi and Khao Lak either for concerns of scams and safety or for the overall better pricing in Khao Lak area over Phuket
Facilities COSI
Room Size 18 sqm.
F&B Outlets Food Corner & Bar
Swimming Pool Resort destination only
Spa No
Fitness Center No
Meeting Facilities Business Areas Only
Internet Free Wifi
Business Centre Business Corner
Kids Club No
Laundry Facilities Washing machines/Outsource
Limousine No
Retail Areas No
Introduction in 4Q12: COSI
Spotless Clean
Environment (Room &
Public Space)
Good Hot Shower
Practical and Comfortable Room (Work
& Life)
One Stop Convenience (Front Desk Services &
F&B Services)
Free Wifi Connectivity
24 Hours Securities
CENTEL's Opportunity Day 4Q12 18
Introduction to COSI: Expansion Plan
Year 2015 2016 2017 2018 2019 2020
Owned 1 1 1 1 1 1
Managed 4 4 4 4 4 4
Accumulated 5 10 15 20 25 30
4
8
12
16
20
24
-10
-5
0
5
10
15
20
25
30
0.0
20.0
40.0
60.0
80.0
100.0
120.0
140.0
160.0
2015E 2016E 2017E 2018E 2019E 2020E
Management Fees # of managed hotels Unit: THB
19 CENTEL's Opportunity Day 4Q12
Food Business
CENTEL's Opportunity Day 4Q12 20
The Terrace
Food Chain Market Size in Thailand
21
0
10,000
20,000
30,000
40,000
50,000
60,000
70,000
80,000
90,000
100,000
2007A 2008A 2009A 2010A 2011A 2012A 2013E
Pizza Consumer Foodservice
Suki, Shabu, Chacoal grilled
Japanese restaurant
Ice Cream shop
Fast Food
Premium Coffee
Burger Fast Food
Bakery Products (Include Donut)
43,356
79,562
90,296
Source: Euromonitor
51,405 56,227
62,221
70,515
Top 3 CAGR from 2007- 2012
Suki, Shabu, Chacoal grilled 16%
Japanese restaurant 15%
Pizza 15% Burger Fast Food 15%
CENTEL's Opportunity Day 4Q12
Food’s Portfolios at the end of 2012: 12 brands with 677 outlets in 71 provinces in Thailand
Mister Donut
Auntie Anne’s
Beard Papa’s
Cold Stone
Café’ Andonand
KFC
Pepper Lunch
Chabuton
The Terrace
Ryu Shabu Shabu
Yoshinoya
Ootoya
Brands No. of outlets
KFC 181
Mister Donut 289
Café Andonand 1
Auntie Anne’s 100
Pepper Lunch 16
Beard Papa’s 17
Chabuton 12
RYU 1
Cold Stone 10
The Terrace 4
Yoshinoya 9
Ootoya 36
Total 677
CENTEL's Opportunity Day 4Q12 22
24%
29%
37%
26%
21% 24%
28%
4Q11 1Q12 2Q12 3Q12 4Q12 FY11 FY12
-70.0%
-60.0%
-50.0%
-40.0%
-30.0%
-20.0%
-10.0%
0.0%
10.0%
20.0%
30.0%
0
500
1,000
1,500
2,000
2,500
3,000
3,500
4,000
4,500
5,000
5,500
6,000
6,500
7,000
7,500
8,000
8,500
9,000
9,500
FY11 FY12
1,859 1,901
2,161 2,046
2,247
16.6% 14.1% 15.2% 12.9% 12.5%
-70.00%
-60.00%
-50.00%
-40.00%
-30.00%
-20.00%
-10.00%
0.00%
10.00%
20.00%
30.00%
0
500
1,000
1,500
2,000
2,500
3,000
4Q11 1Q12 2Q12 3Q12 4Q12
QSR: Financial Snapshot 4Q12 and FY12
CENTEL's Opportunity Day 4Q12 23 Note: EBITDA excluded depreciation allocated to cost
Total QSR Revenue and EBITDA
Bt461mn
8,356
13.7%
Total Food Revenue growth yoy
o In 4Q12, total revenue grew by 20.9%
yoy or Bt388mn to Bt2,247mn mainly
due to the growth of 4 key brands, KFC,
Ootoya, Mister Donut and Auntie Anne’s,
respectively. EBITDA margin dropped
from 16.6% last year to 12.5% due to
minimum wage impact and cost &
expense of outlet expansion.
o In FY12, total revenue increased by 27.6%
or Bt1,805mn to Bt8,356mn primarily
due to strong growth of KFC. The 1st
full year operation of Ootoya also
contributed about 28% of total revenue
growth. EBITDA margin decreased from
16.4% to 13.7% due to minimum wage,
cost & expense of outlet expansion and
closed ice cream factory in 1Q12.
16.4%
6,551
QSR: Organic Growth vs. Total Growth
CENTEL's Opportunity Day 4Q12 24
o In FY12, revenue (excluding other income) increased by 27% yoy to Bt8,259mn mainly derived from growth from existing brand
of Bt1,017mn (or 58%) and new brands of Bt747mn (or 42%).
6,495
8,259 1,017
747
FY11 Exisitng Brands New Brands FY12
Revenue Incremental
Note: Revenue exclude other income
Existing brands include KFC, Mister Donut /Café Andonand, Auntie Anne’s, Pepper Lunch,
Beard Papa,’s Chabuton, Ryu Shabu Shabu and Cold Stone Creamery New Brands include The Terrace, Yoshinoya and Ootoya
Food Revenue Breakdown by Brand
Note: - Revenue excluded other income - CSC included Factory
KFC 58.0% MD
22.7%
AA 8.2%
Ootoya 3.2%
PL 2.1%
Others 5.8%
2011
QSR Revenue by Brands2011 vs 2012
KFC 53.6%
MD/CA 19.9%
Ootoya 8.7%
AA 8.0%
CBT 2.3%
PL 2.2%
CSC 2.0%
Others 3.2%
2012
TT 0.1%
CSC 2.0%
CBT1.8%
BP 1.1%
RYU0.4%
YO 0.3%
TT 0.6%
BP 1.2%
RYU0.3%
YO 1.5%
o In 2012, 4 key brands, KFC, MD, Ootoya and Auntie Anne’s, contributed about 90% of QSR’s revenue.
CENTEL's Opportunity Day 4Q12 25
QSR: 4Q12/FY12 SSS and TSS
CENTEL's Opportunity Day 4Q12 26
Note: Cold Stone excludes ice cream factory
Brand
SSS SSS TSS TSS
4Q11 4Q12 FY11 FY12 4Q11 4Q12 FY11 FY12
KFC 13.1% 7.5% 18.3% 8.7% 12.6% 18.0% 18.3% 17.4%
Mister Donut 4.3% 0.2% 9.0% 4.4% 5.6% 13.6% 12.0% 11.5%
Auntie Anne’s 30.9% 2.1% 17.5% 9.8% 14.0% 31.4% 14.5% 25.2%
Pepper Lunch 13.3% -11.8% 6.2% -7.2% 80.7% 11.1% 70.8% 34.4%
Beard Papa’s -25.8% -20.6% -35.9% -23.3% 17.3% 8.0% 38.6% 27.4%
Chabuton -30.8% -17.3% -27.9% 257.0% 19.8% 363.8% 59.5%
Ryu Shabu Shabu -2.0% 0.1% -7.7% -2.0% 0.1% 85.4% -7.5%
Cold Stone na -1.6% 84.9% 151.5% 52.7%
The Terrace 1.2% 70.1% 513.3%
Yoshinoya -16.1% 105.7% 405.8%
Ootoya 2.5% 13.0% 967.1%
Average 10.6% 3.8% 14.8% 6.2% 24.5% 20.0% 23.7% 27.1%
Medium Term Outlook
CENTEL's Opportunity Day 4Q12 27
Away Suansawan Chiang Mai, Centara Boutique Collection
2013 Target
Hotel FY13E
OCC (%) 70% -71%
ARR (Growth yoy)
15% - 16%
RevPar (Growth yoy)
18% - 19%
QSR FY13E
SSS (%) 5% - 7%
TSS (%) 16% - 17%
# of Outlets +80
QSR business:
o Full year target SSS growth at 5% - 7% and TSS growth at 16% - 17%.
o Key drivers for revenue growth are KFC, MD, Ootoya and Yoshinoya.
Hotel Business:
o Full year target for OCC is about 70%-71%.
o ARR growth is targeted to increase significantly at 15% - 16%, including 2 projects in Maldives. If excluding hotels in Maldives, ARR growth is targeted at about 4% - 5%.
o RevPar growth is about 18-19%. Excluding 2 Maldives projects, RevPar growth is around 8%-9%
CENTEL's Opportunity Day 4Q12 28
Business by Segment
29
o Revenue split between hotel and food business is expected to be around 57:43 in next 5 years. o Net profit contribution from hotel business is expected to increase to 66% in 2017E due to high
margin earned from management fees income.
Total Revenue by Segment Net Profit by Segment
44% 43%
56% 57%
2012A 2017E
Hotel Food
53% 66%
47% 34%
2012A 2017E
Hotel Food
Note: net profit in 2012 before extra items of guarantee in PFPO and Gain from business combination in total of Bt418mn
CENTEL's Opportunity Day 4Q12
CENTEL’s CAPEX vs EBITDA
-
1,000
2,000
3,000
4,000
5,000
6,000
7,000
2013E 2014E 2015E 2016E 2017E
CAPEX EBITDA
o In 2013, total CAPEX is about Bt1,700mn including:
o Investment in Centara Rasfushi Resort & Spa (CRF) Maldives (Bt485mn)
o Annual hotel renovation, food outlet expansion (Bt1,215mn)
o New opportunity of hotel business (in 2014 – 2016) is under study. The source of fund for this opportunity will be primarily from internally operating cash flow.
Note: Excluding investment in budget hotel
CENTEL's Opportunity Day 4Q12 30
Net Debt/ Equity Ratio
1.4 1.1
0.8 0.6
0.4
-2.5
-2.0
-1.5
-1.0
-0.5
-
0.5
1.0
1.5
-
10,000
20,000
30,000
40,000
2013E 2014E 2015E 2016E 2017E
Net Debt Equity Gearing Ratio
Note: Not take into account of budget hotel and new opportunity of hotel business
CENTEL's Opportunity Day 4Q12 31
CENTEL’s Milestone
CENTEL's Opportunity Day 4Q12 32
• Hotel > 80 hotels
• Hotel in Overseas > 30
• QSR 16 brands, ≥ 1,000 outlets
2017E
• Hotel 47 hotels (34 in Thailand and 13 in Overseas
• QSR 13 brands, ≥770 outlets
2013E
• Hotel 34 hotels (29 in Thailand and 5 in Overseas
• QSR 12 brands, 677 outlets
2012
• Hotel 7 hotels
• QSR 5 Brands, 427 outlets
2005
Thank you
CENTEL's Opportunity Day 4Q12 33
Centara Ashlee Hotel Patong