IFESTYLE Quarterly Briefing MAJOR CINEPLEX GROUP PLC. Analyst Meeting Quatier Cine Art, 11 th May, 2015
Q15 QUARTERLY BRIEFING LIFESTYLE Financial Highlights Bt.Million growth Amt. % Revenue 1,703 100% 1,749 100% 45 3% Gross margin 588 35% 604 35% 16 3% EBITDA 421 25% 502 29% 81 19% EBIT 226 13% 292 17% 65 29% Net Profit 140 8% 199 11% 59 42% Net Core Profit (excl.divest. in SF&PVRL) 126 7% 156 9% 30 24% Revenue growth from Cambodia & new branches & up price. Maintain gross margin & EBIT improved from efficiently cost management & Selling expenses. profit from divestment in SF&PVRL. High profit from portfolio Strong net core profit.
Bt.million Q15 QUARTERLY BRIEFING LIFESTYLE Net profit 140 126 +42%(59mb.) 199 156 +24% (30mb.) Core profit Excl.gain on divest. in SF &PVRL Revenue +3%(45mb.) Net profit growth from ; 6 branches expansion in cinema BU. Investment in Cambodia. Cost control is effective improvement and continue. Profit from divestment in SF&PVRL. High profit in portfolio(sf, TTM) Margins variance Admissions 18% 13% (5%) Concessions 65% 71% 6% Advertising services 87% 87% Bowling group 35% 28% (6%) Rentals & services 22% 24% 1% Movie Contents 15% 13% (2%) Consol 35% 35%
Bt.million 111 104 128 132 133 174 238 266 840 857 Q15 QUARTERLY BRIEFING LIFESTYLE Revenue Break down Revenue +3%(45mb.) Admissions +2% (17mb.) Revenue growth in main core businesses and also cinema in Cambodia. Movie content dropped from Film rights distribution and VCD/DVD sales. Concession +12% (28mb.) Advertising +21% (44mb.) Bowling group -6% (-7mb.) Retails +3% (4mb.) Movie Content -24% (-41mb.)
Bt.million Excl.Complementary 840 857 Q15 QUARTERLY BRIEFING LIFESTYLE Revenue : Admissions Sale Admissions sale +2%(17mb.) No.of Screen No.of Screens +30 screens +30 new screens 6 branches(+26 screens) Cambodia(+7 screens) (opened in 2Q14) Closed BigC Nawanakorn (-3 screens in May2014) Q Q Guest Count & ATP Q Q +10% (14bt.) -9% (0.5mb) ATP increased from up price and manage price tiers in each locations. - Q Q Q Q Q Guest Count(million) ATP
Bt.million 840 857 Q15 QUARTERLY BRIEFING LIFESTYLE Revenue : Admissions Sale Admissions sale +2%(17mb.) The number of movies that made more than 50mb. In less than 74 70 64 52 50 71 49 47
Bt.million 238 266 Q15 QUARTERLY BRIEFING LIFESTYLE Revenue : Concession Concession sale +12% (28mb.) 700 600 500 400 300 200 100 65% 238 Concession Sales 70% 429 72% Concession sales and margin improved from cost control, variety of bucket sets %Concession and up margins price. 324 319 70% 71% 266 80% 70% 60% 50% 40% 30% 0 Chart Title 2Q14 3Q14 4Q14 20% Concession Sales %Concession margins
Bt.million Q15 QUARTERLY BRIEFING LIFESTYLE Revenue : Advertising Growth from more media & sponsor from Automobile industry. Advertising sale +21% (44mb.) 500 450 400 350 300 250 200 150 100 50 0 2Q14 3Q14 4Q14 Advertising revenue Margin
Bt.million 111 104 Q15 QUARTERLY BRIEFING LIFESTYLE Revenue: Bowling Group 400 Revenue Ice skate dropped while fixed cost maintained. 60% 350 50% 300 Bowling group sale -6% (-7mb.) 250 200 150 100 50 35% 35% 111 113 37% 36% 127 129 28% 104 40% 30% 20% 10% 0 0% 2Q14 3Q14 4Q14 Bowling group revenues margins
Bt.million 128 132 Q15 QUARTERLY BRIEFING LIFESTYLE Revenue : Retails Revenue increased from Center point at Ratchayothin location and Mini mall at Aomyai Occupancy increase from 90.3% to 91.6% 300 250 200 Retails sale +3% (4mb.) 150 100 128 129 127 136 132 - - 50 - - 0-2Q14 3Q14 4Q14 Rental&services Rev. margins
Bt.million 133 174 Q15 QUARTERLY BRIEFING LIFESTYLE Revenue : Movie Content Movie content sale -24% (-41mb.) Revenue dropped in compared with from; Less numbers of home Less popular MPIC movies
ASSETS EQUITY ASSETS EQUITY LIABILITIES LIABILITIES Q15 QUARTERLY BRIEFING LIFESTYLE B/S Snapshot Bt.million Dec 31,14 Mar 31,15 %chg Assets 13,932 13,632-2% Liabilities 7,546 7,069-6% Equity 6,387 6,562 3% Slightly decrease D/E ratio Net interest-bearing debts Equity Net D/E Dec 31,14 Mar 31,15 13,932 7,546 13,632 7,069 6,387 6,562 18,000 16,000 18,000 14,000 16,000 12,000 14,000 10,000 8,000 12,000 6,000 10,000 4,000 8,000 2,000 6,000 Net interest-bearing debts Equity Net D/E 0.70 0.62 0.60 0.42 0.400.51 0.42 0.34 0.90 0.58 0.70 0.70 0.50 0.50 0.30 0.30 0.10 0.10-0.10-0.30-0.10 4,000 0 2,000 2011 2012 2013 2014-0.50-0.30
t with relationship ID rid2 rid4 was not found in the file. ASSETS Q15 QUARTERLY BRIEFING LIFESTYLE Investments Portfolio vs. Interest-bearing debts Investments %Share Cost per Share Market value* Major's Cost 13,932 Bt.million Gain(Loss) Siam Future 23.35% 2.97 2,005 1,025 980 MJLF 33.00% 10.00 1,361 1,089 272 7,546 MPIC 92.49% 1.67 2,200 2,003 197 PVRL 5.56% 120.45 719 277 442 Total 6,285 4,394 1,891 *% Share & Closing price on 6May15 13,632 Mar 31,15 7,069 Bt.million Interest-bearing debts Mar 31'15 Bank OD & ST loans 2,000 CP of LT borrowings 116 LT borrowings 358 Debentures 1,800 Total 4,275 Investment portfolio as of 6 May 2015: 92.49% in M Pictures Entertainment Plc. (MPIC) 23.35% in Siam Future Development Plc. (SF) 33.00% in Major Cineplex Lifestyle Leasehold Property Fund (MJLF) 40.00% in ThaiTicketMajor Co., Ltd. 5.56% in PVR Limited (PVRL) 49.00% in PVR blu-o Entertainment Limited 70.00% in Major Platinum Cineplex Co.,ltd.(Cambodia) EQUITY LIABILITIES 6,387 6,562
IFESTYLE GROWTH POTENTIALS
GROWTH POTENTIALS 2Q15 Blockbuster Highlight LIFESTYLE 2Q15 Fast & Furious 7 (Warner) Avengers: Age of Ultron (Sony) Tomorrowland (Sony) Jurassic World (UIP) Mad Max : Fury Road (Warner) Spy (Warner) Chappie (Sony) Run All Night (Warner) San Andreas (Warner) Paul Blart: Mall Cop 2 (Sony) King Naresuan 6 (Mongkol) Cha Luiew (MPIC) She's happy (MPIC) *Please note that release dates are subject to change.
GROWTH POTENTIALS 2H15 Blockbuster Highlight 2H15 Jurassic World (UIP) Terminator: Genisys (UIP) Minions (UIP) Ant-Man (Sony) Mission: Impossible 5 (UIP) The Fantastic Four (Warner) Bond 24: Spectre (Sony) Star Wars: Episode VII (Sony) The Hunger Games: Mockingjay, Part 2 Hitman : Agent 47 (Warner) Pixels (Sony) Maze Runner (Warner) Victor Frankenstein (Warner) Ted 2 (UIP) Crimson Peak (UIP) The Good Dinosaur (Disney) Pan (Warner) Attack on Titan (M Pictures) *Please note that release dates are subject to change. LIFESTYLE
GROWTH POTENTIALS LIFESTYLE Major is expert in online and interesting in online media. ID line: MajorFriends 15,000,000 Friends Mobile Application 4,800,000 Download Facebook: www.facebook.com/majorgroup 2,300,000 Fan page Twitter: MajorGroup 896,900 Followers Instagram: MajorFriends 160,000 Followers YouTube Channel: Major Trailers 70,000 Subscriber 17
GROWTH POTENTIALS Customers can book the ticket through many channels like E-Ticketing Machines, Mobile Application (ios, Android), Major Cineplex s website, also customers can pick up the tickets by using barcode at kiosks or receive the tickets at 7-11 (Convenience store) 85% of admission revenue comes from non box office (Data as of ) Those technology will come to replace manpower in box office areas. LIFESTYLE Online Booking: E-Ticketing, Mobile Application and Online ticketing E-Ticketing Machine 433 Units in 76 Branches 18
MAJOR CINEPLEX GROUP LIFESTYLE Expansion Plan: Major will reach 600 Screens by year 2015 No. Location Screens Opening Date 1 Emquartier (Opened 1Apr) 8 2 Lotus Nakornsrithammarat (Opend 10Apr) 4 3 Central Rayong 8 4 Big C Nan 2 5 Big C Udonthani 4 6 Big C Ratburanah 4 7 Big C Ratchaburi 4 8 Central West Gate (Bang Yai) 12 9 Promanade 8 10 2Q12 Central East Ville (Ekamai - Ramindra) 11 Lotus (Location: TBA) 2 12 Lotus (Location: TBA) 5 13 Lotus (Location: TBA) 5 14 Lotus (Location: TBA) 4 15 Lotus (Location: TBA) 5 16 Sahathai Suratthani 7 17 Central Samui 3 18 Local Developer 2Q13 4 8 2Q15 (26 Screens) 2H15 (71 Screens) (Data as of April 2015)
IFESTYLE INTERNATIONAL PROJECT
International Project India: PVR Cinemas LIFESTYLE Currently, PVR cinemas has got 462 Screens in 104 Locations and will be reach by 500 screens by year 2015. Major hold 5.56% of PVR Cinemas (PVRL) PVR Cinemas is now India's Largest Multiplex Chain.
International Project India: PVR BluO Currently, PVR BluO has got 110 Bowling lanes in 5 Locations. LIFESTYLE
International Project Cambodia LIFESTYLE Cambodia: Major is partnering Japan's Aeon Mall to operate a cinema complex in Cambodia's capital with 7 screens and 14 bowling lanes. The investment of 150 million baht will be made through a holding company of Major's international joint venture with a local firm. Major hold 70% of JV. This project opened since 30 th June 2014
IFESTYLE LIFESTYLE Thank You