Central Plaza Hotel Public Company Limited - CENTEL Q2/19 - PowerPoint PPT Presentation

Central Plaza Hotel Public Company Limited - CENTEL Q2/19 Opportunity Day Presentation

Agenda  Q2/19 summary performance  Hotel business overview  Food business overview  CAPEX and guidance 2019  Appendix

Margin being pressured from Consolidated earning Q2/19 and 6M19 several unfavorable factors Decreases in Chinese & Russian during low season, Closure of Centara Grand Beach Resort Samui, Indirect impact from fire event at CentralWorld shopping mall, Lower demand from government entities during changeover, Closure of food outlets at Central Ladprao shopping mall, Ongoing value promotion campaign, and Increase in fixed costs. THB million Q2/18 Q2/19 % Chg 6M18 6M19 % Chg Total hotel revenue* 2,139.4 2,000.7 -6.5% 5,088.3 4,756.4 -6.5% Total food revenue 3,051.7 3,224.9 5.7% 5,844.1 6,112.2 4.6% Total revenues 5,191.1 5,225.6 0.7% 10,932.4 10,868.6 -0.6% EBITDA 1,003.2 906.7 -9.6% 2,667.6 2,404.3 -9.9% EBITDA margin (%) 19.3% 17.4% -1.9% 24.4% 22.1% -2.3% Net profit from operation 371.7 290.5 -21.8% 1,254.8 1,035.8 -17.5% Extraordinary items Add: Insurance claim (net tax)** - - - - 80.6 NA Less : Provision of long term employee benefits - (58.1) NA - (58.1) NA Net profit excluding non-recurring items 371.7 232.4 -37.5% 1,254.8 1,058.3 -15.7% Note: * Total hotel revenue included deferred rental income ** Insurance claim from fire at Central World, Big C Rajdamri and Center One in 2010 Q2/19 Summary Performance Page 3

Low gearing & optimized profile Average funding cost of 3.16% Total interest bearing debt Gearing ratio Dec 2018 Jun 2019 Current ratio 1.1 0.9 USD, 20% Fixed, 78% Interest bearing debt/Equity 0.5 0.5 Financial position Total liabilities Total equity THB 7.1bn 1.4% THB 7.0bn THB 26.4 bn THB 26.1 bn 1.1% 34% 28% 52% 51% 50% 60% 48% 49% 22% 6% Dec 2018 Jun 2019 Dec 2018 Jun 2019 * OD, Short-term loan Debentures Long-term loan Note: * Included current portion of long-term loan and debentures Q2/19 Summary Performance Page 4

Hotel l busin iness overview

Thailand tourism overview Indian strong growth Thailand number of tourist arrivals Unit: million No. of tourist arrivals Growth yoy Chinese (-4.9%) and European drop (-2.0%) 55.0 50.0% 12.2% 9.1% 4.3% 2.7% 1.5% 1.1% 1.3% 45.0 0.0% 35.0 -50.0% 25.0 19.7 19.5 -100.0% 15.0 10.8 9.7 8.9 9.0 9.1 -150.0% 5.0 Q2/18 Q3/18 Q4/18 Q1/19 Q2/19 6M18 6M19 -5.0 -200.0% Source: Ministry of Tourism and Sport 6 Hotel Business Overview Page 6

Thailand tourism overview Indian +24% yoy Top 15 - International Tourist Contribution No. of tourist arrivals to Thailand 6M19 Millions FY Cambodia Germany 2% 2018 38.3 Hong Kong 2% France [CATEGORY 2% 2019 40.1 (F)* Singapore NAME] 2% 2% Growth +4.7% [PERCENTAGE] Vietnam 3% Note: *Forecasting from Tourism Council of Thailand, 25 June 2019 Others USA 19% 3% Top 10 - International Tourist Arrivals growth (%) – 6M19 Russia 4% 24% Japan 4% China 11% Laos 5,638,627 7% 880,733 5% 4% 29% 3% 3% 4% 1% Korea -3% 907,343 -5% 5% India Malaysia 978,751 1,930,252 5% (Unit : Person) 10% Source: Ministry of Tourism and Sport Hotel Business Overview Page 7

Hotel demand and supply in Maldives Arrival growth from all regions Number of tourist arrivals and occupancy rate (yoy) Number of operational beds* Unit: beds Unit: persons No. of arrivals % Occupancy No. of operational beds Bed growth yoy 2,500,000 200.00% 75% 66% 64% 63% 57% 56% 52% 100.00% 90,000 50.0% 14% 2,000,000 10% 7% 8% 8% 80,000 0.00% 0.0% 70,000 19% 1,500,000 -100.00% 11% 60,000 47,443 45,106 43,660 -50.0% 42,355 41,487 50,000 15% 24% 862,589 -200.00% 4% 3% 1,000,000 3% 726,515 40,000 -100.0% -300.00% 482,978 30,000 403,815 379,611 353,944 306,412 500,000 20,000 -150.0% -400.00% 10,000 0 -500.00% 0 -200.0% Q2/18 Q3/18 Q4/18 Q1/19 Q2/19 6M18 6M19 Q2/18 Q3/18 Q4/18 Q1/19 Q2/19 Source: Ministry of Tourism, Republic of Maldives Source: Ministry of Tourism, Republic of Maldives Note: * included hotels, resorts, guest houses and safari vessels Hotel Business Overview Page 8

Maldives tourism overview Indian +100% yoy (Unit : Person) Source: Ministry of Tourism Republic of Maldives Hotel Business Overview Page 9

Hotel portfolio – 13,783 rooms Upcoming overseas Number of rooms Number of hotels In operation Pipeline In operation Pipeline Grand Grand Thailand Overseas Total Thailand Overseas Total Thailand Overseas Total Thailand Overseas Total total total Owned 3,940 252 4,192 412 911 1,323 5,515 Owned 15* 2 17 2 3 5 22 Managed 2,738 786 3,524 1,628 3,116 4,744 8,268 Managed 19 4 23 9 17 26 49 Total 34 6 40 11 20 31 71 Total 6,678 1,038 7,716 2,040 4,027 6,067 13,783 *Including JV and property fund As of June 2019 Total portfolio by rooms In operation by rooms 87% 40% 54% 63% Thailand Owned Owned Thailand Hotel Business Overview Page 10

Pipeline – 6,067 rooms AEC, Middle East and Indian Ocean Summary of pipeline 2019E-2022E Total portfolio: number of rooms by region # of rooms Owned Managed Total East Asia Year 2019E 2021E 2022E 2019E 2020E 2021E 2022E China 596 keys Bali 210 210 Cambodia 240 240 West Asia Turkey 449 keys China 596 596 Dubai 601 601 Southeast Asia Laos 322 104 200 626 Bali, Cambodia, Laos and Thailand 3,116 keys Maldives 310 234 544 Qatar 252 509 761 South Asia Maldives 544 keys Turkey 449 449 * Thailand 282 130 179 571 358 520 2,040 Middle East Total Rooms 282 731 310 431 1,402 1,058 1,853 6,067 Doha and Dubai 1,362 keys Total Hotels 1 2 2 3 7 7 9 31 As of June 2019 * Target to open in October 2019 11 Hotel Business Overview Page 11

Impact from Soft demand & Hotel performance Closure for renovation Chinese, key feeder during low season, drops, together with the closure of Centara Grand Samui for renovation since June, Indirect impact from fire event at CentralWorld shopping mall and lower demand from government entities during changeover. Unit: THB mn 6,000 6.5% 5,088 4,756 5,000 4,000 6.5% 3,000 11.0% 2,139 2,001 1,931 1,719 2,000 10.5% 607 1,000 543 EBITDA margin 37.9% 36.1% 28.4% 27.1% 0 Q2/18 Q2/19 6M18 6M19 Total Revenue EBITDA 12 Hotel Business Overview Page 12

Total own portfolio Q2/19 RevPar -6.4% from Occupancy Average Room Rate (ARR) Revenue Per Available Room (RevPar) Occupancy (OCC) 78.1% 4.6% 77.9% 4.7% 80% 10,000 9,000 6.6% 72.9% 6.4% 75% 72.8% 8,000 0.3% 7,000 70% 0.5% 6,000 4,845 4,839 2.0% 3.1% 65% 5,000 4,050 4,051 5.9% 5.2% 3,784 3,770 6.4% 4,000 5.2% 2,949 2,952 60% 3,000 2,000 55% 1,000 50% 0 Q2/19 6M19 Q2/19 6M19 Including Centara Grand Samui Excluding Centara Grand Samui Hotel Business Overview Page 13 13

Thailand portfolio Q2/19 RevPar -7.5% from occupancy Average Room Rate (ARR) Revenue Per Available Room (RevPar) Occupancy (OCC) 5.1% 5.2% 80% 77.6% 77.4% 10,000 9,000 7.1% 7.0% 75% 72.4% 72.2% 8,000 7,000 70% 0.7% 6,000 0.7% 65% 5,000 3.6% 3,937 3,893 1.6% 5.7% 6.9% 4,000 3,257 3,234 3,054 3,012 5.5% 60% 7.5% 2,336 3,000 2,357 2,000 55% 1,000 50% 0 Q2/19 6M19 Q2/19 6M19 Including Centara Grand Samui Excluding Centara Grand Samui Hotel Business Overview Page 14 14

Q2/19 Revpar -7.9% from occupancy Bangkok portfolio and room rate Average Room Rate (ARR) Revenue Per Available Room (RevPar) Occupancy (OCC) 85% 10,000 5.2% 78.6% 9,000 4.7% 80% 76.6% 8,000 75% 7,000 6,000 70% 0.2% 5,000 2.3% 65% 4,000 3,093 2,879 6.4% 7.9% 2,430 60% 2,207 3,000 2,000 55% 1,000 50% 0 Q2/19 6M19 Hotel Business Overview Page 15 15

Upcountry portfolio Q2/19 RevPar -7.2% from occupancy Average Room Rate (ARR) Revenue Per Available Room (RevPar) Occupancy (OCC) 80% 5.1% 10,000 77.1% 76.7% 5.3% 9,000 75% 8.4% 8.1% 8,000 70.2% 69.9% 7,000 70% 0.7% 6,000 1.1% 65% 4,365 4,325 6.8% 5,000 3.9% 3,466 6.9% 3,439 3,365 4,000 3,319 5.4% 4.3% 60% 7.2% 2,404 2,433 3,000 2,000 55% 1,000 50% 0 Q2/19 6M19 Q2/19 6M19 Including Centara Grand Samui Excluding Centara Grand Samui Hotel Business Overview Page 16 16

Maldives portfolio Q2/19 RevPar (USD) -3.5% from ARR Average Room Rate (ARR) Revenue Per Available Room (RevPar) Occupancy (OCC) 90% 25,000 85.9% 3.1% 85% 81.0% 1.6% 7.1% 20,000 17,421 80% 6.1% 3.6% 14,837 14,967 75% 15,000 4.3% 12,011 70% 10,000 65% 60% 3.3% 3.5% 380 USD 473 USD 5,000 55% 50% 0 Q2/19 6M19 Hotel Business Overview Page 17 17

Hotel revenue breakdown by region 82% of hotel revenue from Thailand done Total revenue 6M18 6M19 32.9% 32.5% 17.6% 15.9% 16.8% 12.7% 15.9% 12.6% 5.1% 6.2% 7.4% 6.8% 6.7% 2.2% 6.4% 2.3% Bangkok Maldives Phuket Pattaya Hua Hin Samui Krabi Others 6M19 Bangkok Maldives Phuket Pattaya Hua Hin Samui Krabi Hat Yai Tak % RevPar Growth yoy -6.4% -3.6% -7.1% -7.3% 2.9% -21.7% -7.3% 1.2% -8.4% Excluding Centara Grand Samui -8.3% Hotel Business Overview Page 18

Food busin iness overview