Central Plaza Hotel Public Company Limited pycentel.listedcompany.com/misc/PRESN/20141118-centel-company... · This presentation contains certain forward looking statements Such forward

CCentral Plaza Hotel Public Company Limited October 17, 2014p y

This presentation contains certain forward looking statements Such forward lookingThis 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 presentationopinion, 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.

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Company Background

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Hotel Business

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Food Business

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Outlook and Financial Highlight

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CENTEL’s presentation

CENTEL:PartofCentralGroupCentral Trading Co., Ltd. (Holding company since 1947)

CENTEL: Part of Central Group

Department Store Group (DSG)

Fast Moving Consumer

Group (FMCG)

HardlinesGroup

(HDLG)

Office Mate Group

(OFMG)

Central Pattana

Group (CPN)

Central Marketing

Group (CMG)

Centara Hotel & Resort

Group (CHR)

Central Restaurant

Group (CRG)

Owner and operator of

“Central Department

Shareholder of Robinson

department store - listed

/

(FMCG)

Consumer product

business

( )

Construction materials, home and decor and

electric li

( )

Stationery, books and

online business listed company

p ( )

Develop department

store and real estate business li d

(CMG)

Import and distribution consumer products

Group (CHR)

Hotel business

(CRG)

Quick service restaurant and casual dinning

restaurantDepartment Store” company/

“ROBINS”business appliance

businesslisted company

“OFM” - listed company “CPN”

products business

restaurant business

CENTEL’s Shareholder Structure listed company “CENTEL”

Foreigner9%

Local Investors Price (as of Dividend

CENTEL’s Equity Market Information

Investors24%

Family

Symbol Sector Price (as of 14/11/14) Market Cap Dividend

Policy

CENTEL Tourism Bt34.00 Bt45,900bn 60%67%

5As at 30 September 2014


CENTEL’sMilestoneCENTELs Milestone

Capital increase of e

Listed in The Stock Exchange

of Thailand

(SET)

Capital increase of Baht

500 million

Baht 450 million

Par splitedfrom Baht 5

to Baht 1

Cor

pora

te

Terminated

introduced Authorized Franchisee

Terminated Pizza Hut

and Baskin Robbins

and introduced QSR brought

Acquired “Ootoya”

home cooking

stylebusi

ness

Introduced

Terminated Café

Andonand

Introduced

1978 1983 1984 1990 1991 1998 2006 2007 2008 2009 2010 2011 2012 2013

introduced“Mister Donut”

Authorized franchisee

of KFC

Franchisee of Auntie Anne’s

introduced Beard Papa’s

QSR brought 5 new brands into portfolios

style Japanese restaurantFo

od

PepperLunch

Introduced “Tenya” into

portfolio

1st hotel, “CentaraGrand at Central

Rebranding hotel brand from

Grand opening of

CentaraGrand at

Grand opening of

CentaraGrand Mirage

Opening CentaraGrand Phuketne

ss

Consolidating• Centara

Karon, (Feb)

Opening Centara Maldives

on 24 Ladprao

Bangkok”“Central”

to “Centara”

Central World

Launched Property

Fund (Centara

Beach Resort, Pattaya

Opening the 1st oversea

JVs in

Hot

el b

usin • Centara

Maldives (Mar)

• CentaraGrand Maldives (Dec)

March

Grand Samui)

Maldives “Centara

Grand Resort & Spa,

Maldives” 6


CENTEL: Revenue and Profit by BusinessC ti th th h th i f h t l d i iti f f d b dTotal Revenue by business segment (THB million): 4-year CAGR=20 %

EBITDA by business segment (THB million): 4-year CAGR = 27%

Continuous growth through the opening of new hotels and acquisition of new food brands

3 800Hotel Food

2,36538%

1 669

Hotel Food

11,4748 436 9,400

14,82917,469 3,164

53%

32%

3,800

58% 48%54%

42% 52%46%

62%1,443

1,66968%

8,436 ,

46% 44%

54% 56%

43%

57%

44%

56%

47%

Hotel Food

2009A 2010A 2011A 2012A 2013A2009A 2010A 2011A 2012A 2013A

EBITDA Margin by business segment

Hotel Food

Owned Hotel Inventory (rms) and Food Outlets

22%19%

26%31% 31%

2,805 3,067 3,067 3,514 3,654

478 512 603 677 743

13%17% 16%

14% 13%Centara Maldives

Grand MaldivesCentara Karon

Grand Pattaya

Grand Phuket

Hotel2009A 2010A 2011A 2012A 2013A

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2009A 2010A 2011A 2012A 2013ABKK Riot Flood in

Central of Thailand in Q4

RajprasongprotestNote: Total revenue and EBITDA before extra

items and deferred rental income from PFPO

Protest in 4Q13

Food Ootoya(33 outlets)

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6 CentaraBrands:Offering variety of brands to capture opportunity in different market segments.Offering variety of brands to capture opportunity in different market segments.

Five-star C t

Four-star C t

A series of distinctive properties

d i d t

Two categories Centara

Offers affordable h t l dCategory Category designed to

an intimate scale

Centara Grand and

Centarahotels and

resorts Designed for cost-

conscious travelers

who mostly

Set in prime city and

beachfront

Premium settings in city-centrelocations,

Imparting a residential

Located to attract the corporate and the

Providing a quality

experience designed to

o ost ydo all their

own bookings on-line

beachfront locations

,beach, and

island destination

quality. and the leisure long-stay guest

designed to exceed

expectations

9


Hotel Business Strategy: focusing on hotel management but also gy g ginvesting in new owned hotels by employing internal cash flow/ REIT

Asset Light Strategy: focusingOwned Hotel

Asset Light Strategy: focusingon expansion of portfolio throughhotel management business;

Asset Right Strategy: expandingour portfolio through: Investing in property (owned or

Hotel Property FundJVs Hotel

g p p y (JVs) using internal cash flow;and

Using property fund/REIT as a

Managed

g yvehicle for making newinvestments.

Hotel

10


Hotels in Operation as at 31 Dec 14 (1/2):

Total 45 hotels in operation by the end of2014 with 8,585 rooms (including 15

Asset types # Properties #Rms

Owned & JV hotels 15 3,812

owned and JV properties and 30 hotelsunder management contract).

Hotels under management contracts 30 4,773

Grand total 45 8,585Listof15owned& JVhotels (3812rooms)

Hotel Name #Rms Country

Owned Hotels

Centara Grand at

Hotel Name #Rms Country

Owned Hotels (continued)

Centara Mae Sot Hill

List of 15 owned & JV hotels (3,812 rooms)

1 Centara Grand at CentralWorld 512 Thailand

2 Centara Grand Ladprao 565 Thailand

3 Centara Grand Hua Hin 249 Thailand

9 Centara Mae Sot Hill Resort 113 Thailand

10 Centara Hat Yai 245 Thailand

11 Centara Villas Samui 100 Thailand

4 Centara Grand Phuket 262 Thailand

5 Centara Grand Krabi 192 Thailand

6 Centara Grand Mirage 555 Thailand

12 Centara Grand Maldives 112 Maldives

13 Centara Maldives 140 Maldives

Property Fund Hotel6 gPattaya 555 Thailand

7 Centara Villas Phuket 72 Thailand

8 Centara Karon Resort Ph k t 335 Thailand

p y

14 Centara Grand Samui 202 Thailand

Joint Venture Hotel

15 Centara Kata Resort 158 Thailand

11

Phuket 15 Centara Kata Resort Phuket 158 Thailand


Hotels in Operation as at 31 Dec 14 (2/2):Hotel Name #Rms Country

33 Centra Government Complex 204 THA

p ( )Hotel Name #Rms Country

Managed Hotel

List of 30 hotels under management contract (4,773 rooms)

33 Centra Government Complex 204 THA

34 Centra Coconut Beach Samui 55 THA

35 Centara Watergate Hotel & Spa Bangkok 281 THA

Managed Hotel16 Khum Phaya Resort, Boutique 87 THA

17 Centara Udon Thani 259 THA

18 Centara Chaan Talay, Trat 44 THA

36 Khao Lak Seaview Resort & Spa, Centara 230* THA

37 Centra Central Station Bangkok 150 THA

38 Centara Grand Modus Pattaya 252* THA

19 Centara Duangtawan Chiang Mai 512 THA

20 Centara Sappaya, Rayong 13 THA

21 Centra Ashlee Hotel Patong 110 THA

22 C t A d Dh i K bi 135* THA 38 Centara Grand Modus Pattaya 252 THA

39 Centara Grand Phrathamnak Resort Pattaya 165 THA

40 Centara Grand Azuri Resort & Spa Mauritius 100 MUS

22 Centara Anda Dhevi, Krabi 135* THA

23 Centara Plaza Hotel Pattaya 152 THA

24 Nova Hotel & Spa Pattaya, Boutique 79 THA

25 Chen La Resort & Spa Phu Quoc, 36* VNM Mauritius

41 The Blue Marine Resort & Spa Phuket 266 THA

42 Centara Grand Azuri Residences & Suites Mauritius 100* MUS

25 Chen La Resort & Spa Phu Quoc, Boutique 36* VNM

26 Waterfront Suites Phuket 39 THA

27 Centra Taum Resort Bali 90 IND

28 C t G d W t S d Ph k t 545* THA 43 CentaraCeysandsResort & Spa Srilanka 165 SRI

44 Centara Grand Nusa DuaResort & Villas, Bali 82 IND

45 Centra Avenue Hotel Pattaya 51 THA

28 Centara Grand West Sands, Phuket 545* THA

29 Centara Hotel Khonkaen 196 THA

30 Sandy Beach Non NuocResort DanongVietnam Managed by Centara 118 VNM

45 Centra Avenue Hotel Pattaya 51 THA

12

31 Centara Koh Chang Resort 157 THA

32 Centara Poste Lafayette, Maurittius 100 MUS Note: Opened in 2014* Revised figures


Hotel Portfolio including PipelineBrands Thailand Indonesia Laos Maldives Mauritius Vietnam Sri

Lanka Ethiopia Doha Oman China Total

CentaraGrand 4,611 82 200 112 100 196 300 360 125 6,086

06 ro

oms

Total 77 hotels, including 45

Centara 3,837 2,057 250 100 118 391 154 6,907

Centra 1,179 90 1,269

Centara Boutique 166 36 202or

tfolio

: 15,

60hotels in operation by

the end of 2014 and 32 hotels

under qCollection

CentaraResidence & Suite

39 100 530 669

Cosi 473* 473al h

otel

s in

pounder

development, scheduled from

2015 to 2017

Proportion of rooms: Owned vs. Managed Pipeline 2015 2016 2017 Total

Thailand 210 2,202 351 2,763

Cosi 473* 473

Total 10,305 1,729 200 362 300 880 391 300 360 154 125 15,606Tot

Owned, JVs, s

15,606 rms

Indonesia 1,362 195 500 2,057

Laos 200 200

Maldives 110 110

Vietnam 196 530 726

Owned, JVs, Property

Fund27%

e: 7

,021

room

s

A t O t b 31 2014

Vietnam 196 530 726

Sri Lanka 226 226

Ethiopia 300 300

Doha 360 360

O 154 154

Managed73%

tels

in p

ipel

ine

1313

Noted: * Included 2 owned COSI projects in Samui and Pattaya

As at October 31,2014 Oman 154 154

China 125 125

Total 2,086 3,054 1,881 7,021

Hot


Centara Guests by Region: y gAsia increased its portion significantly during the last few years, driven by Chinese. Despite smaller contribution, Europe continued its room night growth yoy driven by Russian.

3% 2%

Guests by Regional: 2007 vs.2013 Room Night 9M13* vs 9M14

6%

9M14 9M13

5%2%3%

9%

36%10%

3%2%

6%

2%

4%

3%

2%

6%

Middl E t

USA

Others

48%18%

36%16%

2007 2013

18%

11%

3%

15%

10%

3%

Thailand

Australia

Middle East

14% 27%

38%

25%

18%

36%

28%

Europe

Asia

Thailand

Europe Asia Thailand Australia Middle East USA Others

38%p

0% 5% 10% 15% 20% 25% 30% 35% 40%

Note: *revised figures

14


Hotel Performance Snapshot: N B k k d M ldi ti d t f ll G d l f B k k i t d f ll iNon-Bangkok and Maldives continued to perform well. Gradual recovery for Bangkok is noted following the unrest in 1Q-14 and coup d’etat in May-14

OCC, ARR and RevPar Total Revenue**(Btmn) and # of rooms

2,233

3,067

3,654

2,000

2,500

3,000

3,500

4,000

6,000

8,000

10,000 OCC (%) 2007A 2010A 2013A*

Bangkok 73.2 50.7 77.5

Upcountry 58.2 61.2 80.3

Maldi es 84 8

9M13 9M14 Chg

78.8 54.6 (24.2)

80.2 78.7 (1.5)

82 6 90 7 8 1

3,766 3,812

3,300

3,500

3,700

3,900

6,000

8,000

10,000

2,887 4,105

8,286

‐

500

1,000

1,500

2,000

‐

2,000

4,000 Maldives - - 84.8

Average 62.1 58.1 79.8

ARR (Bt) 2007A 2010A 2013A*

Bangkok 2 273 2 752 3 097

82.6 90.7 8.1

79.9 72.7 (7.2)6,021 5,929

2,500

2,700

2,900

3,100

‐

2,000

4,000

9M13 9M14 %Chg

3 017 3 060 1 4 2007A 2010A 2013A

Total Revenue No.of rooms

EBITDA **(Btmn) and EBITDA margin

Bangkok 2,273 2,752 3,097

Upcountry 3,752 3,639 3,886

Maldives - - 15,376

Average 3,391 3,409 4,370

9M13 9M143,017 3,060 1.4

3,816 3,941 3.3

15,108 17,066 13.0

4,229 4,829 14.232%

19%

31%

20.00%

25.00%

30.00%

35.00%

2,000

3,000

4,000

g

RevPar (Bt) 2007A 2010A 2013A*

Bangkok 1,664 1,396 2,401

Upcountry 2,184 2,225 3,122

32% 31%

25.0%

30.0%

35.0%

40.0%

45.0%

50.0%

2,000

3,000

4,000

9M13 9M14 %Chg

2,377 1,670 (29.7)

3,060 3,102 1.4

919 793

2,600

0.00%

5.00%

10.00%

15.00%

-

1,000

2007A 2010A 2013A

Maldives - - 13,040

Average 2,046 1,979 3,486

Noted: *Included Maldives since 2013

1,933 1,835 0.0%

5.0%

10.0%

15.0%

20.0%

‐

1,000

9M13 9M14

12,477 15,474 24.0

3,380 3,510 3.9

15

2007A 2010A 2013A

EBITDA %EBITDA MarginNoted: **Excluded extra items and deferred rental income from PFPO


Revenue Contribution by Location: New developments in the last 5 years have resulted in better diversification of source of income.

Revenue Contribution

38%37%

32%

2007A 2010A 2013A 2014E

21%

15%

20%

13% 20%

8% 15%

15% 15%

25%

8%

14% 16%

7%

21%

3% 3% 1%4%9%

3%

13%

1%

8%

2%5%

7%0.4%

8%

2%6% 7%

0%

Bangkok Hua Hin Hat Yai Krabi Pattaya Phuket Samui Tak Maldivesg y

Revenue Per Room Available – RevPar (Bt)

Bangkok Hua Hin Hat Yai Krabi Pattaya Phuket Samui Tak Maldives

2007A 1 664 4 305 528 3 562 1 283 3 135 4972007A 1,664 4,305 528 3,562 - 1,283 3,135 497 -

2010A 1,396 3,823 863 3,225 2,374 1,734 2,746 410 -

2013A 2,401 4,724 1,198 3,742 3,750 3,028 3,099 415 13,040

9M13 2 377 4 613 1 194 3 525 3 697 2 902 3 272 375 12 477

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9M13 2,377 4,613 1,194 3,525 3,697 2,902 3,272 375 12,477

9M14 1,670 4,671 1,066 3,881 3,629 2,951 3,458 380 15,474

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Food Business Strategy: Currently, Operating in Thailand but looking gy y p g gfor an opportunity to expand in overseas

Growing existing brands throughOwned Outlet

Expansion

Growing existing brands through outlet expansion across Thailand, particularly in upcountry;

Continue looking for opportunity to expand in high potential food segment via: Acquisition by using internal cash

Food

Acquisition by using internal cash flow from operation;

Joint venture with international partner.

AcquisitionJoint Venture

p

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Food Portfoliosof 12 Brands (1/2): ( )7 Japanese, 3 US and 2 owned brands

Mister Donut (MD) KFC Auntie Anne’s

(AA)Pepper Lunch

(PL) Chabuton (CBT)Cold Stone

(CSC)(MD)(1978)

• Founded in the United States in 1956

KFC(1984)

• The world's second largest restaurant h i ll

(AA)(1988)

• An American chain of pretzel bakeries

(PL)(2007)

• A "fast-steak" restaurant franchise

l i th

Chabuton (CBT)(2010)

• TV Champion chef’s Japanese

(CSC)(2010)

• An American-based ice cream parlor h i• Now

headquartered in Japan, where it has more than 1,300 stores

chain overall (as measured by sales) after McDonald’s, as of Dec 2012.

• Over 18,000

• More than 300 franchisees with more than 1,200 locations in the United States and

popular in the Tokyo area, founded in 1994

• Over 200 stores in 11 countries

ramen restaurant

• Supervised by Mr. Yasuji Morizumi, who is also the

chain• premium ice-

cream, or ice cream made with approximately sto es

• A presence in Taiwan, South Korea, China, Philippines, Thailand, and El Salvador

,outlets in 120 countries

more than 23 countries globally

cou t esowner of the first ramen shop appeared in MICHELIN Guide LA

app o ate y12–14% butterfat

• Since 2008, an attempt to increase its presenceEl Salvador presence outside the United States

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FoodPortfoliosof12Brands(2/2)Food Portfolios of 12 Brands (2/2)

Ryu Shabu(RYU) The Terrace (TT)

(2010)Ootoya (OTY)

(2011)Yoshinoya (YO)

(2011)Tenya (TEN)

(2013)Katsuya (KAT)

(2014)(2010)• In house brand

Japanese Restaurant

• Osaka mix

(2010)

• Central group's Thai cuisine restaurant

(2011)

•Acquired total of 33 outlets in Sep 2011•Japanese home

(2011)

• The largest chain of beef bowl restaurant founded in 1899

(2013)

• The most successful Tendon chain restaurants in

(2014)

• Japanese market leader (Ton-Katsucategory) Osaka mix

shabushabu all you can eat

Japanese home cooking style restaurant

•More than 250 stores in Japan

•A presence in

• Its motto is “Tasty, low-priced, and quick”.

Japan• Providing

customers with high-quality Tendon and Tempura

• Quick , fresh and delicious deep fried pork

• Using an automated fryer th t b

pTaiwan, Hong Kong, Indonesia, Singapore and Thailand

Tempura that can be served within 5 minutes

• 214 outlets in Japan (93 owned+121 franchise) since 1998

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Food Performance Snapshot:pContinuous growth despite the challenging times

SSS and TSS growth (%) Total Revenue (Btmn) and # of outlets

473 512

743

500

600

700

800

7,000

9,000

11,000

SSS TSS

714 773

600

700

800

900

5 000

7,000

9,000

11,000

4,295 5,295

9,183

-

100

200

300

400

(1,000)

1,000

3,000

5,000

15 4%

6,824 7,404

200

300

400

500

(1,000)

1,000

3,000

5,000

9M13 9M14(1,000)2007A 2010A 2013A

Total Revenue # of outlets

EBITDA (Btmn) and EBITDA margin-3.1%

14.0%0.9%

4.0%

15.4%9.7%

1.8% 1.1%

11.3% 9.3%( )

9M13 9M14

15%17%

13%

10.0%

12.0%

14.0%

16.0%

18.0%

1,500

2,500

Noted: 2009 terminated Pizza Hut and Baskin Robbins

2007A 2010A 2013A 9M13 9M14 14%

9%10.0%

12.0%

14.0%

16.0%

1,500

2,500

638 875 1,199

0.0%

2.0%

4.0%

6.0%

8.0%

(500)

500

2007A 2010A 2013A

954 694

2.0%

4.0%

6.0%

8.0%

(5 )

500

21

( ) 2007A 2010A 2013A

EBITDA %EBITDA Margin

0.0%(500) 9M13 9M14


Revenue Contribution by Brand: Top 4 brands, KFC, MD, AA y pand Ootoya contributing 90% of food revenueRevenue Contribution

52%60%

52%

2007A 2010A 2013A

TT

YO

TEN

Ootoya9%

Other heavy food8%

Other light food2%

25%25%20% PH

CBT

RYU

PL

CSC

BP

CBT

RYU

PL

CSC

BPBR

KFC54%

AA7% 9M14

9% 7% 7%9%2% 4%

8% 9% 8%3%

KFC Mister Donut Auntie Anne's

Ootoya Other Heavy Food

Other Light Food

MD20%

Anne s Food Food

Number of outlets

KFC Mister Donut Auntie Anne’s Ootoya Other Heavy Food Other Light Food Total

2007A 136 188 81 26 42 4732007A 136 188 81 - 26 42 473

2010A 160 245 83 - 10 14 512

2013A 194 309 117 40 61 22 743

9M13 188 301 112 38 56 19 714

22

9M13 188 301 112 38 56 19 714

9M14 199 322 124 45 69 14 773

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PortfolioExpansionPortfolio Expansion Asset Light Expansion: Management fees and # of rooms

Food Outlet Expansion

8 731

10000400

Management Fees # of JV and managned rooms

rooms

Bangkok Upcountry

6,720

8,731

7000

8000

9000

300

350

743

920

4,236

5,1365000

6000

200

250

Btm

n

603677

743

45%

50%

2,866 3,065

2000

3000

4000

50

100

150

59%59%

55% 50%

0

1000

0

50

2011A 2012A 2013A 2014E 2015E 2016E 2011A 2012A 2013A 2016E

Note: assumed 8 10 new contracts per annum plus

24

Note: assumed 8‐10 new contracts per annum plus 3‐4 hotels for COSI brand since 2015


Interest Bearing Debt: average cost 4.2% as at 30 Sep 2014g g p

31 D 13 30 S 14

Interest Bearing Debt 31 Dec 13 vs 30 Sep14 Interest Bearing Debt as at 30 Sep,14: Bt10,290mn

A t 31 D 13 30 S 14

5,1445 000 0

6,000.0

31-Dec-13 30-Sep-14

Bank overdraft

As at 31-Dec-13 30-Sep-14

Interest Bearing Debt/ Equity 1.0X 0.9X

3,685

4,297

4,000.0

5,000.0 0.3%

Short-term loan

13.5%Current

portion of Long-term

2,243 2,799

2,000.0

3,000.0

Long term loans8.6%Debenture

41.8% 30-Sep-14

19

1,251

35

1,392

8801,000.0 Long-term

loans35.8%

19-

Bank overdraft

Short-term loan

Current portion of Long-term

loans

Long-term loans

Debenture S/T Loan (22.4%) Bt2,307mn

L/T Loan (77.6%) Bt7,983mn

Fi d R t (45 6%) Bt4 690

25

Fixed Rate (45.6%) Bt4,690mn

Float Rate (54.4%) Bt5,600mn


CENTELMilestone

2013

CENTELMilestone

• Hotel 42 hotels (15 owned/JVs and 27 managed)

• QSR 12 brands 743

2018E• Hotel 80

hotels (21 owned/JVs

2009

outlets owned/JVs and 59 managed)

• QSR 14• Hotel 19

hotels (13 owned/JVs and 6

• QSR 14 brands > 1,000 outlets

and 6 managed)

• QSR 5 Brands 478Brands 478 outlets

26


hankYouThank YouT


ppendixAppendixA

Tourism Arrivals:Number of international tourists arrivals continue to rise


Number of international tourists arrivals continue to rise

o In 2013, top source market continues to contribute the significant growth, including tourists fromChina (+69%), Russia (+32%), Malaysia (+17%) and Japan (+12%)

International Arrivals by Nationality: 9M14Number of International Tourist Arrivals to Thailand

South Asia

Oceania4%

Middle East

Africa1%

64% 61% 64% 70% 80% 100.00%40.0

East Asia Europe AmericasSouth Asia Oceania Middle EastAfrica Market OCC Centel OCC

E t A iE

Americas5%

Asia5%

4% East2%

1%

56% 49% 51% 58% 61%65%

64% 61% 58% 64% 70%

0.00%

50.00%

25.0

30.0

35.0

Per

sons

22.3

East Asia58%

Europe25%

Nationality 9M13 9M14 % ∆ yoy

26.7

8 210.3

12.516.1

4.0 4.1 4.44.9

5.66.3

-100.00%

-50.00%

10.0

15.0

20.0

Mill

ion

P

14.6 14.1 15.919.1

Nationality 9M13 9M14 % ∆ yoy

East Asia 12.09 10.20 (15.68)

Europe 4.31 4.41 2.7

The Americas 0.82 0.79 (4.34)

Flooding in Central of

7.6 7.1 8.2

-150.00%0.0

5.0

2008A 2009A 2010A 2011A 2012A 2013AAirport Closure

April Riot RajprasongProtest

South Asia 1.01 0.90 (11.18)

Oceania 0.74 0.71 (4.53)

Middle East 0.48 0.43 (8.73)The Protest in 4Q13Ce a o

ThailandSource: BOT and TAT

Africa 0.12 0.12 4.49

Total 19.57 17.56 (10.28)

in 4Q13

29

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