BreadTalk Group Limited

Transcription

1 BreadTalk Group Limited Financial Results Second Quarter August 217 Bakery Food Atrium Restaurant

2 2Q 217 FINANCIAL HIGHLIGHTS Income Statement Highlights S$ Million 2Q 217 2Q 216 Y/Y 1H 217 1H 216 Y/Y Revenue % % Bakery % % Food Atrium % % Restaurant % % EBITDA % % Bakery % % Food Atrium % % Restaurant % % Others (1.) % % EBITDA Margin 12.4% 12.3% +.1 ppt 15.1% 12.6% +2.5 ppt Bakery 8.6% 9.5% -.9 ppt 8.3% 9.2% -.9 ppt Food Atrium 15.7% 3.6% ppt 14.6% 2.9% ppt Restaurant 19.2% 2.2% -1. ppt 19.4% 18.9% +.5 ppt Net Profit % % Net Margin 1.4%.9% +.5 ppt 4.3% 1.2% +3.1 ppt Core F&B Net Profit % 7.1 (2.4) 395.8% Core F&B Net Margin 2.7% 2.% +.7 ppt 2.4% -.8% +3.2 ppt EPS (cents) % % DPS (cents) % % 2

3 GROUP KEY FINANCIAL HIGHLIGHTS REVENUE MIX BY BUSINESS REVENUE MIX BY GEOGRAPHY EBITDA MIX BY BUSINESS Restaurant $75.7m 26% 24% 1H 217 Hong Kong $27.m 9% 11% Others $23.5m 8% 6% 1H 217 Others $6.9m 16% 22% Bakery $12.1m 27% 1H % Food Atrium $73.7m 25% 1H 216 5% Bakery $145.9m 49% China $81.m 28% 29% 1H % $163.6m 55% Restaurant $14.7m 33% 36% 1H 216 6% 36% Food Atrium $1.8m 24% 1H 217 REVENUE: S$295.2M 1H 217 REVENUE BY GEOGRAPHY 1H 217 EBITDA: S$44.6M 3

4 2Q 217 FINANCIAL HIGHLIGHTS Balance Sheet Highlights S$ Million 2Q 217 FY 216 Total assets Cash and cash equivalents Accounts receivables Inventories 9 1 Investment securities - 17 Other current assets 8 6 Current assets Property, plant and equipment Investment securities Non-current assets Total liabilities Accounts payables Current liabilities Non-current liabilities Borrowings and debt securities Short term Long term Net debt CASH & CASH EQUIVALENT VS NET DEBT FY14 FY15 FY16 1Q17 2Q17 Cash and cash equivalents (S$ Million) Net debt (S$ Million) CURRENT ASSET VS CURRENT LIABILITIES FY15 FY16 1Q17 2Q17 Net current liabilities (S$ Million) Current assets (S$ Million) Current liabilities (S$ Million) 4

5 2Q 217 FINANCIAL HIGHLIGHTS Cash Flow Highlights S$ Million 2Q 217 2Q 216 Operating cash flow before working capital changes Net cash flow from operating activities Less: Capital expenditure (4) (6) Investment in associate & joint venture (1) - Net cash flow from / (used in) investing activities 21 (5) Free cash flow 12 1 Net decrease in bank borrowings (5) (7) Net cash flow used in financing activities (17) N.M. Net cash flow

6 2Q 217 FINANCIAL HIGHLIGHTS Financial Ratios 2Q 217 FY 216 Trade Receivables Turnover (days) - Franchisee 82 9 Trade Receivables Turnover (days) - Non franchisee 2 2 Total Receivables Turnover (days) 7 8 Inventory Turnover (days) Trade Payables Turnover (days) Cash Conversion Cycle (days) 3 5 Net Debt/Shareholder's Equity.25x.46x Net Debt/EBITDA.36x.69x EBITDA/Interest expense 17.72x 14.76x 6

7 STRONG PRESENCE ACROSS ASIA Strong foothold across 17 territories in Asia and Middle East OUTLET DISTRIBUTION BY GEOGRAPHY OUTLET DISTRIBUTION BY BUSINESS SEGMENT 167 Thailand 6 China 4 FY 216 Net Increase/ 1H 217 Bakery 862 (6) 856 Direct Operating 26 (1) 259 Franchise 62 (5) 597 Food Atrium 57 (1) 56 Others 369 Restaurant 32 (2) 3 Din Tai Fung Ramen Play 6 (3) 3 San Pou Tei 2 2 Sō 1 1 7

8 BAKERY DIVISION REVENUE 1H 217 REVENUE BY GEOGRAPHY % Hong Kong 11% International 1% SEA* 3% 5 FY1 FY11 FY12 FY13 FY14 FY15 FY16 1H16 1H17 Revenue (S$ Million) 44% EBITDA % 12.% % 8.6% 8.8% 7.8% 7.3% 9.9% 9.2% 8.3% 1.% 8.% China 41% % 1 4.% 5 2.% FY1 FY11 FY12 FY13 FY14 FY15 FY16 1H16 1H17.% SEA: Malaysia, Thailand, Philippines, Indonesia, Vietnam, Myanmar & Cambodia International: Taiwan, Kuwait, Sri Lanka, Bahrain, Oman, Saudi Arabia & Qatar EBITDA (S$ Million) Margin (%) 8

9 BAKERY DIVISION NUMBER OF BAKERY OUTLETS 1H 217 OUTLET DISTRIBUTION BY GEOGRAPHY International 37 6 SEA* 298 China Hong Kong 24 FY6 FY7 FY8 FY9 FY1 FY11 FY12 FY13 FY14 FY15 FY16 1H17 Number of outlets SEA: Malaysia, Thailand, Philippines, Indonesia, Vietnam, Myanmar & Cambodia International: Taiwan. Kuwait, Sri Lanka, Bahrain, Oman, Saudi Arabia & Qatar 9

10 FOOD ATRIUM DIVISION REVENUE 1H 217 REVENUE BY GEOGRAPHY % SEA* 5% Taiwan 6% FY1 FY11 FY12 FY13 FY14 FY15 FY16 1H16 1H17 Revenue (S$ Million) Hong Kong 15% 44% EBITDA 25 2.% 16.8% 16.1% % 15.1% 14.7% 1.3% 14.6% 16.% 12.% China 3% 1 7.7% 8.% 5 2.9% 4.% FY1 FY11 FY12 FY13 FY14 FY15 FY16 1H16 1H17.% SEA: Malaysia & Thailand EBITDA (S$ Million) Margin (%) 1

11 FOOD ATRIUM DIVISION NUMBER OF FOOD ATRIUM OUTLETS 1H 217 OUTLET DISTRIBUTION BY GEOGRAPHY Taiwan 3 SEA* 5 4 Hong Kong 5 China FY6 FY7 FY8 FY9 FY1 FY11 FY12 FY13 FY14 FY15 FY16 1H17 Number of outlets SEA: Malaysia & Thailand 11

12 RESTAURANT DIVISION REVENUE 1H 217 REVENUE BY GEOGRAPHY % Thailand 7% 5 25 FY1 FY11 FY12 FY13 FY14 FY15 FY16 1H16 1H17 Revenue (S$ Million) EBITDA % 1.6% 13.5% 14.2% 16.1% 23.7% 2.3% 18.9% 19.4% 25.% 2.% 15.% 1.% 93% % FY1 FY11 FY12 FY13 FY14 FY15 FY16 1H16 1H17.% EBITDA (S$ Million) Margin (%) 12

13 RESTAURANT DIVISION NUMBER OF RESTAURANT OUTLETS 1H 217 OUTLET DISTRIBUTION BY GEOGRAPHY 5 4 Thailand FY6 FY7 FY8 FY9 FY1 FY11 FY12 FY13 FY14 FY15 FY16 1H17 Number of outlets 13

14 CONTACT US Mr. Chan Ying Jian Group Chief Financial Officer Mr. Benjamin Tay Investor Relations Tel - (65) ir@breadtalk.com 14