SET Opportunity Day # 4/2017
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1 SET Opportunity Day # 4/2017 3Q17 & Performance & Outlook 16 November ERAWAN. All rights reserved.
2 The views expressed here contain some information derived from publicly available sources that have not been independently verified. No representation or warranty is made as to the accuracy, completeness or reliability of the information. Any forward looking information in this presentation has been prepared on the basis of a number of assumptions which may prove to be incorrect. This presentation should not be relied upon as a recommendation or forecast by The Erawan Group PLC. Nothing in this release should be construed as either an offer to sell or a solicitation of an offer to buy or sell shares in any jurisdiction ERAWAN. All rights reserved.
3 Executive Summary International tourist arrivals in 3Q17 posted at 8.8 million (+6% from 3Q16) and 26.1 million for the first nine months (+5% from 9M16) Growth continued in 3Q17 with highest record performance with revenue 1,448 MB (+5% from 3Q16) and net profit 79 MB (+42% from 3Q16) Our hotel development progressed as planned, +2 HOP INN Thailand; Huahin and Mae Sod (the 2nd branch), +1 HOP INN Philippines; Makati resulting to 48 hotels (6,999 rooms) at the end of 3Q ERAWAN. All rights reserved.
4 Agenda Industry Updates Performance Review 3Q17 & Outlook Strategy Update Q & A Grand Hyatt Erawan Bangkok ERAWAN. All rights reserved.
5 International Tourist Arrivals Millions 3.5 YTD 26.1 millions, +5% y-y 2014 YTD 17.3 M 2015 YTD 22.1 M 2016 YTD 24.8 M 2017 YTD 26.1 M YoY Jan Feb Mar Apr May June July Aug Sep Oct Oct Nov Dec Dec +7% -3% +2% +7% +5% +11% +5% +9% +6% %YoY Source : Department of Tourism as of Sep ERAWAN. All rights reserved.
6 Tourist Arrivals by Source Markets Oceania The 3% Americas 4% South Asia 5% Europe 17% Middle East 2% Africa 1% 26.1 Million East Asia 68% Continent 3Q17 YoY YoY East Asia 7% 4% Europe 0% 5% South Asia 14% 15% The Americas 8% 12% Oceania 3% 3% Middle East 6% 10% Africa 9% 6% Total 6% 5% Contribution Source : Department of Tourism as of Sep ERAWAN. All rights reserved.
7 Tourist Arrivals by Key Source Markets 3Q16 Weight 3Q17 Weight YoY 9M16 Weight Weight YoY China 29% 31% 11% 29% 28% 1% Malaysia 10% 9% 10% 10% 10% 3% South Korea 5% 5% 18% 4% 5% 15% Laos 5% 5% 10% 4% 5% 12% Japan 5% 5% 4% 4% 4% 6% India 4% 4% 16% 4% 4% 16% Russia 2% 2% 5% 3% 3% 25% United States 2% 2% 8% 3% 3% 9% Viet Nam 3% 3% 9% 3% 3% 12% Singapore 3% 3% 9% 3% 3% 5% Other 32% 32% 4% 32% 31% 5% Grand Total 6% 5% Source : Department of Tourism as of Sep ERAWAN. All rights reserved.
8 Agenda Industry Updates Performance Review 3Q17 & Outlook Strategy Update Q & A Renaissance Koh Samui Resort & Spa ERAWAN. All rights reserved.
9 Statistic Summary 3Q17 & (ex. HOP INN) No. of Rooms %OCC 84% 83% 85% 85% 4,501 4,501 4,501 4,501 4,501 74% 3Q15 3Q16 3Q17 9M16 3Q15 3Q16 3Q17 9M16 Average Room Rate (THB/Room) RevPAR (THB/Room) 4% 4% 3% 4% 2,354 2,323 2,421 2,418 2,520 1,750 1,954 2,020 2,045 2,136 3Q15 3Q16 3Q17 9M16 3Q15 3Q16 3Q17 9M ERAWAN. All rights reserved.
10 Statistic Summary 3Q17 & by Segment Segment 3Q17 (YoY) (YoY) OCC RevPAR OCC RevPAR Luxury 9% 4% 3% 1% Midscale 4% 12% 4% 9% Economy - 6% 1% 5% Total Group 1% 3% - 4% Budget 3% 7% 6% 14% Note : Exclude HOP INN Philippines ERAWAN. All rights reserved.
11 Core Performance Summary Best Performance in 3rd Quarter with Highest Net Profit Group Operating Income 5% YoY 6% YoY 1,216 1,375 1,448 4,147 4,413 3Q15 3Q16 3Q17 9M16 EBITDA 12% YoY 14% YoY ,168 1,337 3Q15 3Q16 3Q17 9M16 Normalized Net Profit 69% YoY 58% YoY (25) Q15 3Q16 3Q17 (Unit in MB, unless otherwise indicated) ERAWAN. All rights reserved. 9M16
12 Hotel Revenue (Unit in MB) Hotel Revenue 1,164 3Q 1,321 1,393 YoY Growth 5% 9M 3,989 4,249 YoY Growth 7% F&B Revenue % 1,216 1,222 0% Room Revenue % 2,656 2,867 8% 3Q15 3Q16 3Q17 9M ERAWAN. All rights reserved.
13 Hotel Revenue by Segment Total Hotel Revenue 3Q17 5% 7% Luxury Segment Midscale Segment 2% 2% 10% 8% 3Q15 3Q16 3Q17 9M16 3Q15 3Q16 3Q17 9M16 Economy Segment 6% Budget Segment 4% 43% 54% 3Q15 3Q16 3Q17 9M16 3Q15 3Q16 3Q17 9M16 remark : Exclude HOP Philippines ERAWAN. All rights reserved.
14 Room Revenue by Country of Residence %Contribution 9M16 15% 16% 15% 15% Thailand China Top 10 Country of Residences by Room Revenue (MB.) YoY %Growth 14% 5% 10% 9% United States 2% 6% 5% Singapore 2% 5% 5% India 8% 5% 4% Hong Kong 8% 3% 4% Russia 33% 3% 3% South Korea 3% 3% 3% 3% 3% Australia Germany 19% 16% ERAWAN. All rights reserved. *Exclude HOP Philippines
15 Consolidate Profit & Loss Statement In Baht Millions 3Q16 3Q17 %Y-Y 9M16 %Y-Y Hotel Income 1,321 1,393 5% 3,989 4,249 7% Rental and Service Income % % Total Operating Income 1,375 1,448 5% 4,147 4,413 6% Other Income % % Total Income 1,382 1,458 5% 4,177 4,453 7% Operating Expenses (1,005) (1,035) 3% (3,009) (3,116) 4% EBITDA % 1,168 1,337 14% Depreciation (185) (187) (545) (550) Interest Expenses (89) (88) (271) (255) Taxes (30) (34) (90) (120) Minority Interest (13) (11) (26) (39) Normalized Net Profit / (Loss) % % Extraordinary Items Share of Profit /(Loss)in ERWPF (4) (22) N.M. 9 (28) N.M. Gain from sale of shop house N.M. Net Profit / (Loss) % % ERAWAN. All rights reserved.
16 Summary of Financial Position Total Assets Total Interest Bearing Debt (MB) & Interest-bearing Debt to Equity (x) 14,911 15,524 9,000 8, Q17 Total Liabilities 7,000 6,000 5, ,839 10,301 4, Q17 Average Cost of Debt vs Average MLR (%) Q17 Total Equities Average MLR (%) Average Cost of Debt (%) 5,073 5, % Q Q ERAWAN. All rights reserved.
17 Agenda Industry Updates Performance Review 3Q17 & Outlook Strategy Update Q & A The Naka Island, a Luxury Collection Resort & Spa, Phuket ERAWAN. All rights reserved.
18 2017 Outlook : Status Update Hotel Revenue FY17 Forecasted 7% 6% 9% 5% 10% 1Q 2Q 3Q 4QF RevPAR (ex. HOP INN) FY17 Forecasted 4% 4% 6% 3% 5% 1Q 2Q 3Q 4QF (Unit in MB, unless otherwise indicated) ERAWAN. All rights reserved.
19 Moving Forward with the Strong Growth of Thailand Tourism 7% Million M F TSUNAMI Coup Protest Protest Protest Protest Protest Source : Department of Tourism as of Sep ERAWAN. All rights reserved.
20 Tourist Arrivals by Quarter Thailand Tourism Industry still Showing Strong Growth % % % % Q1 Q2 Q3 Q4 Source : Department of Tourism as of Sep ERAWAN. All rights reserved.
21 2017 Hotel Opening Quarter 1 Quarter 2 Quarter 3 Quarter 4 March Opening HOP INN #23 Burirum (79 Rooms) April Opening HOP INN #24 Rayong (75 Rooms) May Opening HOP INN #25 Chiangrai (79 Rooms) June Opening HOP INN #26 Lampang City Center (79 Rooms) Aug Opening HOP INN Philippines #2 Makati (144 Rooms) Sep Opening HOP INN #27 Hua Hin (79 Rooms) HOP INN #28 Mae Sot 2 (79 Rooms) Oct Opening HOP INN #29 Khon Kaen2 (79 Rooms) Nov Adding The Naka Island (13 rooms) Dec Opening HOP INN #30 Nakornsawan (79 Rooms) HOP INN #31 Kanchanaburi2 (79 Rooms) HOP INN #32 Lop Buri (79 Rooms) Total 42 Hotels 6,464 Rooms ERAWAN. All rights reserved. Total 45 Hotels 6,697 Rooms Total 48 Hotels 6,999 Rooms Total 52 Hotels 7,328 Rooms
22 Agenda Industry Updates Performance Review 3Q17 & Outlook Strategy Update Q & A IBIS Riverside, Bangkok ERAWAN. All rights reserved.
23 Investment Framework ( ) Asset Improvement 15% Philippines 30% Investment 10,000 MB. Thailand 55% ERAWAN. All rights reserved.
24 Road Map of Hotel Growth Strategies ( ) Continue expanding in high growth markets & high growth segments Hotels 5,676 Rooms Hotels 6,385 Rooms +7 HOP Thailand +1 HOP Philippines Hotels 7,328 Rooms 2018 Target opening Novotel & IBIS Style Nana HOP INN Thailand HOP INN Philippines +10 HOP Thailand +1 HOP Philippines 2019 Target opening Mercure & IBIS Sukhumvit 24 HOP INN Thailand HOP INN Philippines 2020F >85 Hotels >10,000 Rooms 25 Hotels in Luxury Midscale Economy 50 HOP INN Thailand 12 Hotels in Philippines Remark : Development plan as of 2Q ERAWAN. All rights reserved.
25 Agenda Industry Updates Performance Review 3Q17 & Outlook Strategy Update Q & A Hop Inn Chantaburi ERAWAN. All rights reserved.
26 ERAWAN. All rights reserved. Success with Integrity
27 ERAWAN. All rights reserved. Appendix 3Q17 & Review
28 Operating Income by Segment 3Q17 Contribution Y-Y Contribution Y-Y Luxury 49% 2% 49% 2% Midscale 26% 10% 25% 8% Economy 16% 6% 18% 4% Budget 5% 43% 5% 54% Rental 4% 2% 4% 4% Total Group 5% 6% Note : Exclude HOP INN Philippines ERAWAN. All rights reserved.
29 Operating Income by Destination 3Q17 Contribution Y-Y Contribution Y-Y Bangkok 64% 1% 63% 4% Pattaya 17% 9% 17% 6% Phuket 6% 15% 7% 10% Other 13% 11% 12% 11% Total Group 5% 6% Note : Exclude HOP INN Philippines ERAWAN. All rights reserved.
30 EBITDA by Segment 3Q17 Contribution Y-Y Contribution Y-Y Luxury 44% 4% 43% 10% Midscale 30% 14% 28% 12% Economy 15% 7% 18% 6% Budget 6% 17% 6% 36% Rental 6% 9% 5% 13% Total Group 12% 14% Note : For illustration purpose only EBITDA by Segment is calculated without taking non-property-specific expenses into account. Exclude HOP INN Philippines ERAWAN. All rights reserved.
31 EBITDA by Destination 3Q17 Contribution Y-Y Contribution Y-Y Bangkok 68% 6% 64% 10% Pattaya 20% 11% 20% 8% Phuket 0% 98% 3% 34% Other 12% 9% 12% 10% Total Group 12% 14% Note : For illustration purpose only EBITDA by Segment is calculated without taking non-property-specific expenses into account. The Naka Island are excluded from Phuket due to negative EBITDA Exclude HOP INN Philippines ERAWAN. All rights reserved.
32 ERAWAN. All rights reserved. Success with Integrity
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