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1Q12 QUARTERLY BRIEFINGLIFESTYLEentertainment
Quarterly Briefing
1Q12MAJOR CINEPLEX GROUP PLC.Analyst MeetingParagon Cineplex, Siam Paragon : May 11th, 2012
LIFESTYLEentertainment
1Q12 QUARTERLY BRIEFINGLIFESTYLEentertainment
2
contents
The Bottom Line
1Q12 Financial ReviewReview of Revenue, Net profit B/S snapshot
Growth Potentials
LIFESTYLEentertainment
1Q12 QUARTERLY BRIEFINGLIFESTYLEentertainment
96
15
2
21
4 24
7
19
3
28
7
21
5
81
23
3
46
9
6
1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12
19
3
23
3
1Q11 1Q12
The Bottom Line
1Q11 1Q12 3
LIFESTYLEentertainment
Net Profit Bt.million1Q10 1Q11 2Q10 2Q11 3Q10 3Q11 4Q10 4Q11
Bt.million
Net profit +21%
*Gain from Financial lease
21% Profit Growth mainly from
• Insurance claimed from Bangna Branch• Profit booking from divestment in SF
1Q12 QUARTERLY BRIEFINGLIFESTYLEentertainment
23
1 26
7
1Q11 1Q12
1,4
70 1
,66
7
1Q11 1Q12
14
4 16
9
1Q11 1Q12
10
9 12
91Q11 1Q12
10
7
10
1
1Q11 1Q12
88
0 1,0
00
1Q11 1Q121Q11 1Q12 4
Bowlinggroup
-5%
Core Rental&services
+19%
filmdistribution
+15%
Cinema group+14%
Advertising+18%
The Revenue Review
Bt.million
Core Revenue +13%
Continuous growth from key businesses
• 13% revenue growth YoY• Cinema, Advertising and Rental as key drivers
1Q12 QUARTERLY BRIEFINGLIFESTYLEentertainment
1,4
70 1
,66
7
1Q11 1Q12
774
801 1,
065
762 88
0
1,32
6
1,19
1
809 1,00
0
28%24%
28%26%
31% 30%26% 27% 28%
-10%
-5%
0%
5%
10%
15%
20%
25%
30%
35%
0
200
400
600
800
1,000
1,200
1,400
1,600
1,800
2,000
1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12
70
4 80
4
17
6 19
6
1Q11 1Q125
Cinema is stronger especially from Thai films• Thai films as key driver in 1Q12
• Digital theatres also drive revenue
GBO+14%
Concessions+11%
Cinema revenues Bt.million
The Revenue Review : Cinema
1Q11 1Q12
Bt.million
Core Revenue +13%
Cinema group+14%
1Q12 QUARTERLY BRIEFINGLIFESTYLEentertainment
1,4
70 1
,66
7
1Q11 1Q12
6Cinema revenues Bt.million
1Q11
The Revenue Review : Cinema (Con’t)
70
4 80
4
17
6 19
6
1Q11 1Q121Q11 1Q12
Bt.million
Core Revenue +13%
Cinema group+14%
90.4 65.4 59.4 45.9 41.7
50.0% 50.0% 50.0% 50.0% 49.0%
10.0%
15.0%
20.0%
25.0%
30.0%
35.0%
40.0%
45.0%
50.0%
55.0%
0.0
50.0
100.0
150.0
200.0
250.0
300.0
SudKhet JeeWonBin SuckSeed RakManYai IAmNo4
GBO F/H
142.8 62.8 58.9 58.7 51.3
50.0% 50.0%51.6%
50.0%48.2%
10.0%
15.0%
20.0%
25.0%
30.0%
35.0%
40.0%
45.0%
50.0%
55.0%
-10.0
10.0
30.0
50.0
70.0
90.0
110.0
130.0
150.0
170.0
ATMErrak SKSsweety JohnCater ValentSweety RealSteel
GBO F/H
1Q12
14% YoY Growth in Cinema
• Mainly from ATM err-rak error, sor kor sor sweety,
valentine sweety• Avg. film hire increase 1%
1Q12 QUARTERLY BRIEFINGLIFESTYLEentertainment
1,4
70 1
,66
7
1Q11 1Q12
7
ATP & Admission (Net Complimentary)
The Revenue Review : Cinema (Con’t)
70
4 80
4
17
6 19
6
1Q11 1Q12
GBO+14%
Concessions+11%
1Q11 1Q12
Bt.million
Core Revenue +13%
Cinema group+14%
4.9 5.2 6.8
4.8 5.8
7.7 6.6
4.6 5.9
137 132 135 135127
145152
146 141
0
20
40
60
80
100
120
140
160
180
0.0
2.0
4.0
6.0
8.0
10.0
12.0
14.0
16.0
18.0
20.0
1Q
10
2Q
10
3Q
10
4Q
10
1Q
11
2Q
11
3Q
11
4Q
11
1Q
12
11%YoY ATP Growth• ATP and Admission increase• More Digital theatres makes ATP gets more higher
1Q12 QUARTERLY BRIEFINGLIFESTYLEentertainment
13
0 15
2
1Q11 1Q12
CineAd
MPIC
TalentOne
13
0 15
2
1Q11 1Q12
CineAd
MPIC
TalentOne
1,4
70 1
,66
7
1Q11 1Q12
Advertising+18%
Core advertising services income Bt.million 8
Continue growth in Advertising
• Good response in By-movie ads package•Drink & Snack and Telecommunication are still main clients
Core Advertising +17% YoY
The Revenue Review : Advertising
1Q11 1Q12
Bt.million
Core Revenue +13%
128
175 175 169
130
189
213194
152
0
50
100
150
200
250
300
1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12
Core Ad
13
0 15
2
1Q11 1Q12
CineAd
MPIC
TalentOne
14
4 16
9
13
0 15
2
1Q11 1Q12
CineAd
MPIC
TalentOne
1Q12 QUARTERLY BRIEFINGLIFESTYLEentertainment
1,4
70 1
,66
7
1Q11 1Q12
111 104119
133107 118 125
91 101
35%32% 33% 33%
30% 31%34%
19%
27%
0%
5%
10%
15%
20%
25%
30%
35%
40%
45%
0
50
100
150
200
250
300
350
1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12
10
7
10
1
1Q11 1Q12 9Bowling & Karaoke revenues Bt.million
Revenue slightly softened
• Closed down 2 branches: Piyarom and Ladprao
The Revenue Review : Bowling
1Q11 1Q12
Bt.million
Core Revenue +13%
Bowlinggroup
-5%
1Q12 QUARTERLY BRIEFINGLIFESTYLEentertainment
1,4
70 1
,66
7
1Q11 1Q12
10
9 12
9
1Q11 1Q1210
Core rental & services income Bt.million
Excl.Finance Lease
3Q10 4Q10 1Q11 2Q11 FY11
The Revenue Review : Retail
1Q11 1Q12
Bt.million
Core Revenue +13%
Core Rental&services
+19%
117108 112
103109 112
130
114
129
0
20
40
60
80
100
120
140
160
180
1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12
Fully occupancy in Metropolis drive up revenue
•Metropolis is fully occupied • Slight drop on promotional area
1Q12 QUARTERLY BRIEFINGLIFESTYLEentertainment
0.60
0.51
0.420.34
-0.50
-0.30
-0.10
0.10
0.30
0.50
0.70
0
2,000
4,000
6,000
8,000
10,000
12,000
14,000
16,000
18,000
YE09 YE10 YE11 End of 1Q12
Net interest-bearing debts Equity Net D/E
6,0566,325
4,9315,058
10,98811,383
Dec 31, 11 Dec 31, 11 Mar 31, 12 Mar 31, 12
Bt.million Dec 31, 11 Mar 31, 12 %chg
Assets 10,988 11,383 4%Liabilities 4,931 5,058 3%Equity 6,056 6,325 4%
Dec 31, 11 Mar 31, 12
AS
SET
S
AS
SET
S
EQU
ITY
EQU
ITY
LIA
BIL
ITIE
S
LIA
BIL
ITIE
S
B/S Snapshot
End
2Q11
0.85
0.62
0.30 0.37
0.60 0.51
0.36
(0.50)
(0.30)
(0.10)
0.10
0.30
0.50
0.70
0.90
1.10
0
2,000
4,000
6,000
8,000
10,000
12,000
14,000
16,000
18,000
YE05 YE06 YE07 YE08 YE09 YE10 End 2Q11
Net interest-bearing debts Equity Net D/E
YE10 YE11YE0911
END OF
1Q12
1Q12 QUARTERLY BRIEFINGLIFESTYLEentertainment
Bt.million
Interest-bearing debts 1Q12
Bank OD & ST loans 477
CP of LT borrowings 1,558
LT borrowings 158
Debentures 800
Total 2,994
6,0566,325
4,9315,058
10,98811,383
Dec 31, 11 Dec 31, 11 Mar 31, 12 Mar 31, 12
AS
SET
S
EQU
ITY
LIA
BIL
ITIE
S
Investments Portfoliovs. Interest-bearing debts
• Investment portfolio as of 20th Apr 12:• 23% in Siam Future Development Plc. (SF) • 66% in M Pictures Entertainment Plc. (MPIC)• 33% in Major Cineplex Lifestyle
Leasehold Property Fund (MJLF)• 40% in ThaiTicketMajor Co., Ltd.• 45% in Major Kantana Broadcasting Co., Ltd.• 9.9% in PVR Limited (PVRL)• 49% in PVR blu-O Entertainment Limited• 80% in Talent One Co.,ltd.
12
AS
SET
S
Mar31, 12Bt.million
Investments %ShareholdingCost per
ShareMarket value*
MJLF 33.0% 10.00 1,307
Siam Future 22.9% 2.38 2,206
MPIC 66.1% 1.55 691
PVRL 9.9% 91.06 202
Total 4,406 *Closing price on May 5,2012
1Q12 QUARTERLY BRIEFINGLIFESTYLEentertainment
GROWTH POTENTIALS
LIFESTYLEentertainment
Quarterly Briefing
1Q12
1Q12 QUARTERLY BRIEFINGLIFESTYLEentertainment
GROWTH POTENTIALSFY12 Strategic Focus
LIFESTYLEentertainment
14
Main concept still remain - Continue growth with more screens, higher ATP and convert to Digital’s format theme
• More focus on optimizing returns from existing assets, given the solid film line-up and Major’s increased market penetration
• Cautious expansion, focusing on prime new locations• Increase number of digital theaters to eventually replace film • Driving same store growth for higher revenues and yields
• Focus on optimizing multi-tier pricing• Increase cinema occupancy• Improve ticketing convenience to both increase customer satisfaction and
encourage pre-bookings i.e. Counter Service• Maximize M-Gen campaign to increase customer loyalty and
communications to customers• Increase quality of Digital theatres and maximize 3D films to increase ATP• Further expansion into India while exploring other International markets
Strategic Investment: Lifestyle Mall Investment
Rapid and economical expansion arm without zoning limitation Neighborhood Center / Stand-Alone Retail Store / Lifestyle center / Entertainment Center
1Q12 QUARTERLY BRIEFINGLIFESTYLEentertainment
GROWTH POTENTIALSFY12 Blockbuster Highlight LIFESTYLE
entertainment
1Q12ATM Er-Rak-Eror
Valentine Sweety
Underworld4
John Carter
Hanger Games
Wrath of TITANs
2Q12Battleship
The Avengers
Men In Black 3
Snow White and the Huntsman
3Q12G.I. Joe 2: Retaliation
The Amazing Spider-Man
The Dark Knight Rises
Resident Evil 5
4Q12Bond 23 (007)
The Twilight Saga : Breaking Dawn2
The Hobbit
2Q12Battleship
The Avengers
Men In Black 3
Snow White and the Huntsman
G.I. Joe 2: Retaliation
3Q12The Amazing Spider-Man
The Dark Knight Rises
Step Up Revolution
Naresuan 5
Total Recall
Resident Evil 5
4Q12Bond 23 (007)
The Twilight Saga : Breaking Dawn2
47 Ronin
The Hobbit
1Q12 QUARTERLY BRIEFINGLIFESTYLEentertainment
GROWTH POTENTIALSCapacities LIFESTYLE
entertainmentAs of Apr 2012
FY10 FY11 FY12Screens 361 383 53
BKK & Vicinity 252 259 IKEA 16
Bangkae 10
TBA 5
Provincial 109 124 Ubonratchathani 2 Additional screens
Bangna 1 Additional screens
Udonthanee 4 Additional screens
TBA 15
Lanes 504 506 196
BKK & Vicinity 386 386 IKEA 24
Bangkae 16
Provincial 94 94
International 24 Vasant Kunj 26 Bangalore 60
Pune 36
Mumbai 12
Raja Garden 22
Chandigarh 26
1Q12 QUARTERLY BRIEFINGLIFESTYLEentertainment
GROWTH POTENTIALSM Generation LIFESTYLE
entertainment
180.5
3.1
4.7 3.3
11.7
Jan Feb Mar Apr 1Q11
• Loyalty card to customers• Customer insights & Direct marketing channel for MAJOR
to drive same-store growth
Total 1,485,073 members
71.7Bt.million
As of May 9th 12
Ratio M Gen Card : Regular & Student
47.6%52.4%
RegularStudent
1Q12 QUARTERLY BRIEFINGLIFESTYLEentertainment
MAJOR CINEPLEX GROUP PLC.
LIFESTYLEentertainment
Thank You
Quarterly Briefing
1Q12