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MINOR INTERNATIONAL PCL.
COMPANY PROFILE
VISIONTo be A Leading International Hospitality
and Lifestyle Operator by delivering
branded products and services providing 100% satisfaction to all stakeholders
Customer Focus
Result Oriented
People Development
Innovative Partnership
2
Founded RGR
RGR , MFG and MINOR
listed on the SET
Launched
Anantara brand
Acquired 50% stake of
The Coffee Club
Completed group business
restructuring; Delisted MINOR
HISTORY - KEY MILESTONES
M&A
between
RGR and MFG
and became
MINT
MFG launched
The Pizza
Company
brand
Founded MFG
Acquired 70% stake
of Thai Express and
50% stake of
Elewana Afrika
Acquired 80%
stake of Kani
Lanka
1978 1980 1988-9 2000 2001 2003 2007 2008 2009 2010
3
MINT: CONSISTENT GROWTH
-
5,000
10,000
15,000
20,000
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
30,000
40,000
MB
MB
Total Revenue
Total Assets
4
-
10,000
20,000
30,000
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
-
12,500
25,000
37,500
50,000
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
MB
Market Cap
MINOR INTERNATIONAL - TODAY
� Hotel
� Equity Owned
� Quick Service
Restaurant� Fashion
HOTEL & MIXED USE RETAILFOOD
5
Shared Services
� Equity Owned
� Hotel Management
� Spa
� Plaza & Entertainment
� Residential Development
� Timeshare
Restaurant
� Equity Owned
� Franchise
� Cheese & Ice-Cream
Manufacturing
� Cosmetics
� Household Products
� Contract Manufacturing
REVENUE & PROFIT CONTRIBUTION BY BUSINESS GROUPS
2010 Revenue Contribution 2010 EBITDA Contribution 2010 NPAT Contribution
Retail Trading
14%
Restaurant
55%
Hotel &
Mixed use
31%
Retail Trading
4%
Restaurant
46%
Hotel &
Mixed use
50%
Retail Trading
4%
Restaurant
53%
Hotel &
Mixed use
43%
5Y AVG Revenue Contribution 5Y AVG EBITDA Contribution 5Y AVG NPAT Contribution
6
Retail Trading
5%
Restaurant
54%
Hotel &
Mixed use
41%
Retail Trading
1%
Restaurant
35%
Hotel &
Mixed use
64%
Retail Trading
2%
Restaurant
29%
Hotel &
Mixed use
69%
HOTEL &
MIXED USETo be The Preferred Hotel Partner creating substantial value to all stakeholders
7
4 Anantara 4 Four Seasons
1 JW Marriott
3 Marriott
1 Anantara 1 Kani Lanka
Thailand Outside Thailand
Ma
jori
ty-O
wn
ed
HOTEL PORTFOLIO - AS OF 1Q11
1 St. Regis
2 Anantara (Maldives) 1 Naladhu (Maldives) 6 under Elewana (Africa)
3 Serendib Leisure (Sri Lanka)1 Harbour View (Vietnam)
4 Anantara 3 Anantara (1 Bali & 2 UAE)
Join
t V
en
ture
Pu
rely
Ma
na
ge
d
8
HOTEL PORTFOLIO – 35 HOTELS WITH 4,419 ROOMS IN 8 COUNTRIES
No. of RoomsHotel Name Country No. of Rooms
Anantara Hua Hin Thailand 187
Anantara Golden Triangle Thailand 77
Anantara Bophut Koh Samui Thailand 106
Anantara Phuket Thailand 83
Anantara Kihavah Maldives 78
Four Seasons Bangkok Thailand 354
Four Seasons Chiang Mai Thailand 76
Hotel Name Country No. of Rooms
Anantara Veli Maldives 50
Anantara Dhigu Maldives 110
Naladhu Resort Maldives 19
Harbour View Hotel Vietnam 122
Hotel Serendib Sri Lanka 90
Club Hotel Dolphin Sri Lanka 146
Hotel Sigiriya Sri Lanka 79
Arusha Coffee Lodge Tanzania 18
Serengeti Migration Camp Tanzania 20
Tarangire Tree Top Tanzania 20
No. of Rooms
Four Seasons Tented Camp Chiang Rai Thailand 15
Four Seasons Koh Samui Thailand 60
JW Marriott Phuket Thailand 265
Bangkok Marriott Thailand 413
Pattaya Marriott Thailand 298
Hua Hin Marriott Thailand 219
St. Regis Hotel & Residence Thailand 227
Kani Lanka Sri Lanka 105
Majority Owned 15 2,563
Tarangire Tree Top Tanzania 20
The Manor at Ngorongoro Tanzania 20
Kilindi Tanzania 19
AfroChic Retreat Kenya 20
Joint Venture 13 733
Anantara Sikao, Krabi Thailand 138
Anantara Baan Rajprasong Thailand 97
Anantara Lawana, Koh Samui Thailand 122
Anantara Seminyak, Bali Indonesia 60
Anantara Sathorn Thailand 436
Desert Islands by Anantara UAE 64
Qasr Al Sarab Desert by Anantara UAE 206
Purely Managed 7 1,123
9
EXPANDING THE FOOTPRINT OF “ANANTARA”
Indigenous Luxurious Gracious
10
HOTEL – KEY STATISTICS
2010 Revenue Breakdown by Brands * Average Occupancy Rate Management Fee 5%
Share of Profit 2%
72%72%65%
52%52%
Marriott46%
Anantara
Four Seasons 32%
%
ADR RevPar
11
Anantara15%
4,6275,454
6,3395,880 5,805
3,3393,951
4,142
3,076 3,005
*Audited revenue
Baht Baht
MINT owns and operates three shopping plazas
Royal Garden Plaza Bangkok & Pattaya
Turtle VillagePhuket
PLAZA & ENTERTAINMENT
MINT also operates five entertainment outlets
12
Spa portfolio consists of 34 spas in 10 countries THAILAND Bangkok Marriott Resort & Spa
THAILAND Hua Hin Marriott Resort & Spa
THAILAND Anantara Resort & Spa Hua Hin
THAILAND The Royal Orchid Sheraton Hotel Bangkok
THAILAND JW Marriott Phuket Resort & Spa
THAILAND Pattaya Marriott Resort & Spa
THAILAND Sheraton Krabi Beach Resort
THAILAND Anantara Golden Triangle Resort & Spa
THAILAND Anantara Bophut Koh Samui Resort & Spa
THAILAND Four Seasons Hotel Bangkok
THAILAND Anantara Phuket
THAILAND Anantara Sikao, Krabi
THAILAND Anantara Lawana, Koh Samui
CHINA JW Marriott Hotel Shanghai
CHINA Sheraton Sanya Resort
CHINA Commune by the Great Wall Kempinski Beijing
SPA PORTFOLIO
CHINA Commune by the Great Wall Kempinski Beijing
CHINA Marco Polo Shenzen
CHINA The Puli Hotel & Spa
CHINA Renaissance Shanghai Putuo Hotel
MALDIVES Bodu Huraa Resort & Spa
MALDIVES Anantara Resort & Spa Dighufinolhu
MALDIVES Naladhu
TANZANIA Kempinski Kilimanjaro Dar es Salaam - Tanzania
TANZANIA Zamani Kempinski Resort Zanzibar
TANZANIA Kempinski Bilila Lodge (Serengeti)
UAE The Emirates Palace Hotel
UAE Desert Island
UAE Qasr Al Sarab Desert Resort
TURKEY Astoria Kempinski
TURKEY Anantara Bellevue
VIETNAM Harbour View Hotel
JORDAN Kempinski Ishtar Dead Sea - Jordan (Phase I)
INDIA The Radisson Resort and Spa Alibaug
EGYPT JW Marriott Cairo
13
RESIDENTIAL PROPERTY DEVELOPMENT
53 residences & penthouses on
top of 227 hotel rooms in a 47-storey building on Rajdamri
14 luxury villas adjacent to Four Seasons Koh Samui
14
TIMESHARE - ANANTARA VACATION CLUB
Introducing Anantara Vacation Club
Following the success of “Marriott Vacation Club” and to leverage on the
strength of the Anantara brand, MINT introduced “Anantara Vacation Club”
(point-based time share project) in December 2010, with initial inventory in Samui. Additional destinations will be added to the inventory over the years.
15
FOOD To be A Global Integrated Operator of
Multiple Food Brands with the objective of providing 100% satisfaction to all stakeholders
16
Thailand
Ma
jori
ty-O
wn
ed
QUICK SERVICE RESTAURANT PORTFOLIO
International# of Outlets
15555
1424
248
112115
-15
242
243-
--
243
38-
6-
44
EquityFranchise
EquityFranchise
EquityFranchise
EquityFranchise
EquityFranchise
EquityFranchise
EquityFranchise
EquityFranchise- -
26-
--
26
12-
--
12
Total591170
942931,148
--
6011
71
5-
14243
262
17
Franchise
EquityFranchise
EquityFranchise
EquityFranchise
EquityFranchise
EquityFranchise
Franchise
EquityFranchise
EquityFranchise
EquityFranchise
EquityFranchise
EquityFranchise
CHEESE & ICE-CREAM MANUFACTURING
18
Two manufacturing plants producing over
20,000 tons of cheese and ice-cream per annum
FOOD – KEY STATISTICS
Revenue * 2010 Revenue Breakdown by Brands *
The Pizza Company 26%
Swensen’s 15%
Sizzler 16%
Dairy Queen 9%
Burger King 4%
Thai Express 21%
The Coffee Club 2%
10,459
6,4776,852
8,839
10,034
Others 7%MB
Same-Store Sales Growth Total System Sales Growth
19
-0.2%
-2.7%
3.7%
23.4%
10.5%
17.8%
11.9%9.8%
* Include other income and share of profit * Audited revenue
% %
8.8%
3.1%
RETAIL
TRADING
To be A Leading Branded Lifestyle Operator in South
East Asia creating substantial value with the objective of providing 100% satisfaction to all stakeholders
20
RETAIL TRADING PORTFOLIO – 2010
Fashion Apparel Cosmetics Household
# Outlets
93
69
# Outlets
20
15
# Outlets
17
-
Total 17Total 17
17
5
3
Total 187
6
13
Total 54
Total 17Total 17
100K Tons/ Year
Contract Manufacturing
Manufacturing acid-based fast-moving consumer goods
21
Contract Manufacturing
RETAIL TRADING – KEY STATISTICS
Revenue * Revenue Breakdown by Category *
1,690
* Exclude contract manufacturing; Consolidation of retail trading
Others 3%
Fashion 82%
Cosmetics 15%
1,5711,691
1,3521,593
* Exclude contract manufacturing
MB
Same-Store Sales Growth Total Store Sales Growth
22
* Exclude contract manufacturing; Consolidation of retail trading
started in June 2009
9.0%
-17.0%
16.8%
-16.5%
14.4%
* Exclude contract manufacturing
% %
5.5%
23
MINOR INTERNATIONALFINANCIAL HIGHLIGHTS
MINT FINANCIAL HIGHLIGHTS - SIZE
Total Revenue Net Profit
12,39414,029
16,51517,244
19,089
1,611
1,280
1,892
1,241
MB MB
Total Assets Total Equity
24
17,78721,280
25,06428,271
32,786
8,1249,708
12,403 12,50413,806
MB MB
MINT FINANCIAL HIGHLIGHTS - PROFITABILITY
EBITDA Margins Net Margin
26.4% 26.8% 26.1%22.0%
19.0%11.5% 11.5%
8.1%6.5%
% %
Return on Assets Return on Equity
25
7.7%8.3% 8.2%
5.3%4.1%
18.2% 18.1%17.2%
11.5%
9.6%
% %
MINT FINANCIAL HIGHLIGHTS - OTHERS
Interest-Bearing D/E Interest Coverage
0.87 0.860.73
0.961.04
8.93 8.97 8.68 8.237.18
x x
Current Ratio Dividend Per Share and Payout Ratio
26
0.6
1.10.9
0.7
1.1
0.13 0.15
0.10
0.25 0.31 0.15
32.7%
56.5%45.9%
59.0%
34.8%
x x %
OTHER CORPORATE INFORMATION
27
SHAREHOLDERS & MANAGEMENT
Shareholding Structure Management
The King 6%
Osathanugrah Family 10%
Thai Fund 7%
Others21% Minor
Group33%
Foreign
Fund
28
1) William E. Heinecke (Chairman and Group CEO)
2) Pratana Mongkolkul (Group CFO)
3) Paul Charles Kenny (CEO of Minor Food Group)
4) Patamawalai Ratanapol (CPO & COO of Minor Food Group)
5) Dillip Rajakarier (COO of Minor Hotel Group)
6) John Scott Heinecke (VP of Minor Food Group)
7) Michael Binger (COO of Minor Corporation)
As of 11 March 2011 (XM)
Shareholders’ Return
Baht
Fund 23%
CORPORATE SOCIAL RESPONSIBILITY
Roy E. Heinecke Foundation
Golden Triangle Elephant Foundation
Mai Khao Marine Turtle Foundation
The Golden Triangle Asia Elephant Foundation plays a major role in rescuing elephants from the
city streets and relocating them to the jungles of northern Thailand where they belong.
Today, we care for more than 30 elephants with professional mahouts and veterinarians. We
organize “the King’s Cup Polo Tournament” in Chiang Rai which raises funds that are used to support the health of elephants.
An educational fund established in 1994 in memory of Mr. Roy E. Heinecke, the father of Mr.
William E. Heinecke, CEO of the Minor Group. The Scholarship is originally and privately intended
and financially supported by the Heinecke Family. This private fund offers scholarship programmes to children and young adults.
Mai Khao Marine Turtle Foundation
Mai Khao Marine Turtle Foundation in Phuket provides support for protection of sea turtles and
the environment in which they live. By working closely with local communities, the foundation
sponsors activities and events that increase the environmental awareness of
tourists, government agencies and communities. We also support sea turtle research and a sea turtle hatchery near our hotels in Phuket.
29
RECENT AWARDS
Overall Performance & Corporate
Hotel
� Top 10 Best Managed Company and Investor Relations for
Thailand by FinanceAsia, May 2010
� The 6th Corporate Governance Asia Annual Recognition Awards
2010
� The Asset Triple A Corporate Awards 2009 – Gold Award for
Investor Relations in Food & Beverages in Thailand
� FinanceAsia 2009: Asia's Best Managed Companies: Thailand &
Malaysia
� Travel & Leisure - World’s Best Hotels 2010
o Anantara Golden Triangle, Chiang Rai
Four Seasons Tented Camp received a perfect score
of 100 points in Conde Nast Traveler’s 23rd Annual o Anantara Golden Triangle, Chiang Rai
o Four Seasons, Bangkok
o Four Seasons, Chiang Mai
o JW Marriott, Phuket
� Conde Nast’s - Gold List 2011
o Four Seasons Tented Camp, Chiang Rai
o Four Seasons Chiang Mai
Food
� The Best Franchise to the World Market from Ministry of
Commerce in 2009
� The Coffee Club – The Best Cafe Franchise in Australia by the
Australian Financial Review’s Smart Investor Magazine 2010
� Minor Food Group has been chosen as an inductee into the
2010 Palladium Balanced Scorecard Hall of Fame for Executing
Strategy®30
Anantara Golden Triangle was ranked 3rd on the 2010 Travel &Leisure Best Hotels in Thailand
of 100 points in Conde Nast Traveler’s 23rd Annual Readers’ Choice Awards for 2010
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