Major Cineplex Group PlcMajor Cineplex Group Plc..major-th.listedcompany.com/misc/quarterly/slide_q209.pdf · 2010. 9. 22. · Major Cineplex Group PlcMajor Cineplex Group Plc.. QifiQuarterly
Post on 27-Oct-2020
7 Views
Preview:
Transcript
entertainmententertainmententertainmententertainment
Major Cineplex Group PlcMajor Cineplex Group Plc..Q i fiQ i fiQuarterly Results BriefingQuarterly Results Briefing
Aug Aug 1414, , 200920091
22QQ09 09 Quarterly Results BriefingQuarterly Results Briefing
ContentsContentsContentsContents
2Q09 Headlines recap: Key drivers2Q09 & 1H09 Financial reviewReview of Revenue EBITDA Net profitReview of Revenue, EBITDA, Net profit B/S snapshot
FY09 OutlookFilms line upFilms line‐upNew capacitiesAdvertising business review2H09 Tactics2H09 Tactics
2
22QQ09 09 Quarterly Results BriefingQuarterly Results Briefing
22QQ09 09 Headlines RecapHeadlines Recap22QQ09 09 Headlines RecapHeadlines Recap
Political unrest in Apr‐09 during the Songkran holidaysEconomies slipping further into recession beforeEconomies slipping further into recession before signs of bottoming outFl 2009 b k i M i & idl di
ers Flu 2009 outbreak in Mexico & rapidly spreading
worldwide. Public awareness ramping up locally
rive High seasons for Hollywood films Exceptional performance of “Transformers:
y Dr Exceptional performance of Transformers:
Revenge of the Fallen” setting new record, hi i B 100 i h fi 5 d
Key
3
hitting Bt.100m in the first 5 days
entertainmententertainmententertainmententertainment
22QQ09 09 ReviewReview22QQ09 09 ReviewReview
4
22QQ09 09 Quarterly Results BriefingQuarterly Results Briefing
22QQ09 09 Financial ReviewFinancial Review22QQ09 09 Financial ReviewFinancial ReviewBt million
61,400
1,600
+3%Bt.million
Revenue growth mainly from the
38700
800
1,38
4
1,42
61,200
Bt.millionmainly from the core cinema biz (i.e. admissions sales
++88%%
684 73
500
6001,000
(i.e. admissions sales & concessions sales)
300
400
500
600
800
s
212
76 89
200
300
400
nues ++2323%% ‐‐5252%%
‐‐1313%%++1717%%
++5858%%14
3 2
142
83 1201 7
101
124
97
1 8
0
100
Admissions Concessions Advertising Bowling & Rentals & Film
200
ven
Admissions Concessions Advertising Bowling & Karaoke
Rentals & services
Film Distribution
0
2Q08 2Q09Rev
5
22QQ09 09 Quarterly Results BriefingQuarterly Results Briefing
22QQ09 09 Financial ReviewFinancial Review22QQ09 09 Financial ReviewFinancial ReviewBt million Advertising media business still soft
61,400
1,600
+3%Bt.million Advertising media business still soft
Political crisis in Apr‐09, Songkran MayhemEconomies slipping further into recession
1,38
4
1,42
61,200
Multiple downward revisions of GDP contractions
229212 216200
2501,000
Bt.million
212 216
157150
200
600
800
s 157136
101100400
nues
ng ncom
e
50200
ven
Advertisi
services i
0
1Q08 2Q08 3Q08 4Q08 1Q09 2Q09
0
2Q08 2Q09Rev
6
22QQ09 09 Quarterly Results BriefingQuarterly Results Briefing
22QQ09 09 Financial ReviewFinancial Review22QQ09 09 Financial ReviewFinancial ReviewBt million Core EBITDA flat in spite of the soft
600
700 Bt.million Core EBITDA flat in spite of the soft advertising bizMain contributors are still the admissions
500
600 sales & concessions sales
“ ” f
400 +0.7%400
450
500Bt.million “Gross” profits by business units
344
346
300300
350
400
BWL
RET
200
A 150
200
250 ADS
109 +26%
100
ITDA
50
100
150
ADM
CON
86
85
111 +30%
0
2Q08 2Q09EBI 0
1Q08 2Q08 3Q08 4Q08 1Q09 2Q09
ADM
7
22QQ09 09 Quarterly Results BriefingQuarterly Results Briefing
22QQ09 09 Financial ReviewFinancial Review22QQ09 09 Financial ReviewFinancial ReviewBt million 1Q09 net profit drops because of:
600
700 Bt.million 1Q09 net profit drops because of: Less contribution from the advertising media business
500
600 media businessA bit more provision (Bt.12m), mainly for the advertising receivables
400
the advertising receivablesExtra non‐cash costs of MVDNegative equity income due to CAWOW’s
2Q08 2Q09
300
t
Negative equity income due to CAWOW s closure of one club (Sukhumvit 31)
2Q08 2Q09SFD 11.2 2.1MPIC ‐25.0 ‐2.7MJLF 19 4 21 10
200
rofit
MJLF 19.4 21.1CAWOW ‐1.1 ‐45.4PVR blu‐O 3.7Others 46 8 5 7
160
13
100
t Pr
Others 46.8 5.7Total 51.3 ‐15.50
2Q08 2Q09Net
8
22QQ09 09 Quarterly Results BriefingQuarterly Results Briefing
22QQ09 09 Financial ReviewFinancial Review22QQ09 09 Financial ReviewFinancial ReviewBt million 1Q09 net profit drops because of:
600
700 Bt.million 1Q09 net profit drops because of: Less contribution from the advertising media business
500
600 media businessA bit more provision (Bt.12m), mainly for the advertising receivables
400
the advertising receivablesExtra non‐cash costs of MVDNegative equity income due to CAWOW’s
2Q08 2Q09
300
t
Negative equity income due to CAWOW s closure of one club (Sukhumvit 31)
2Q08 2Q09SFD 11.2 2.1MPIC ‐25.0 ‐2.7MJLF 19 4 21 10
200
rofit
Suzuki MJLF 19.4 21.1CAWOW ‐1.1 ‐45.4PVR blu‐O 3.7Others 46 8 5 7
160
13
100
t Pr Ave.
Others 46.8 5.7Total 51.3 ‐15.5
0
2Q08 2Q09Net
9
entertainmententertainmententertainmententertainment
11HH09 09 ReviewReview11HH09 09 ReviewReview
10
22QQ09 09 Quarterly Results BriefingQuarterly Results Briefing
11HH09 09 Financial ReviewFinancial Review11HH09 09 Financial ReviewFinancial ReviewBt million
3,000+0.2%
Revenue flat as the
Bt.million
11 200
1,400
2,60
0
2,60
62,500Bt.million growth for cinema
& film distribution ++44%%
1,22
6
1,27
1
1,000
1,2002,000 offset by weak
advertising media biz
600
8001,500
s
441
6 56
400
1,000
nues ++2020%%
‐‐4646%%
‐‐99%%++1818%%
++4444%%25
5
269
162 24730
6
237
244
191
3 5
0
200
Ad i i C i Ad i i B li R l Fil
500
ven %%
Admissions Concessions Advertising Bowling & Karaoke
Rentals & services
Film Distribution
0
1H08 1H09Rev
11
22QQ09 09 Quarterly Results BriefingQuarterly Results Briefing
11HH09 09 Financial ReviewFinancial Review11HH09 09 Financial ReviewFinancial ReviewBt million
1,500
Core EBITDA down 5.4% due to:S f d i i di b i
Bt.million
1,250 Soft advertising media business6‐month cumulative provisions for
1,000 receivables about Bt.49m
42 8
750 ‐‐55..44%%
64 60500
A
250
ITDA
0
1H08 1H09EBI
12
22QQ09 09 Quarterly Results BriefingQuarterly Results Briefing
11HH09 09 Financial ReviewFinancial Review11HH09 09 Financial ReviewFinancial ReviewBt million1,500Bt.million
1H08 net profit is exceptionally high by ~Bt.200m because of:
1,250by Bt.200m because of: Gain from share swap with MPICGain from sales of CWP leaseholds
1,000Gain from sales of CWP leaseholdsUpfront leases at Suzuki Ave.
750
t
1H09 net profit drops because of: Political havoc severely affecting the
461
500
rofit
y gmedia industry causing less revenues, i.e. contract cancellation, etc.
26
250
t Pr Provision for advertising receivables
Much less equity incomes from associates 0
1H08 1H09Net
13
due to CAWOW’s closure of one club
22QQ09 09 Quarterly Results BriefingQuarterly Results Briefing
11HH09 09 Financial ReviewFinancial ReviewBt Million %ChgJun 30 09Dec 31 08
11HH09 09 Financial ReviewFinancial ReviewBt. Million %ChgTotal assets 9,669 100% 9,814 100% 4%Total liabilities 4,247 44% 4,843 49% 16%
l i 22 9 1 %
Jun 30, 09Dec 31, 08
Total equity 5,422 56% 4,971 51% -4%D/E ratio (TL/TE) 0.78 0.97Net D/E ratio 0.37 0.49/
ot
Bt.million 1.2012,000
Interest-bearing debts Equity Net D/E
psho 0.86
0.790.87 0.85
0.670.80
1.00
8,000
10,000
nap 0.57 0.61 0.62
0 31 0 31 0.340.37
0.430.49
0 40
0.60
4 000
6,000
S sn 0.28
0.31 0.31 0.300.24 0.26
0.34
0.20
0.40
2,000
4,000
B/S
14
0.0001Q052Q053Q054Q051Q062Q063Q064Q061Q072Q073Q074Q071Q082Q083Q084Q081Q092Q09
entertainmententertainmententertainmententertainment
FYFY09 09 OutlookOutlookFYFY09 09 OutlookOutlook
15
22QQ09 09 Quarterly Results BriefingQuarterly Results Briefing
FYFY09 09 OutlookOutlookFYFY09 09 OutlookOutlookp
e-up
line
ms
Film
16
22QQ09 09 Quarterly Results BriefingQuarterly Results Briefing
FYFY09 09 OutlookOutlookFYFY09 09 OutlookOutlook
FY08 FY09New screens 35 23
s
New screens 35 23BKK Srinakarin 5 Ratanathibate 16
Greater BKK Salaya 5 Korat 2
ties
y& Provincial Ayudhya 4 Additional screens
Petchaboon 4 Amatanakorn 5Navanakorn 4
k
acit Navanakorn 4
Thanyaburi 4Banpong 5
capa
New lanes 10 46
w c BKK Ratanathibate 22
Greater BKK Ayudhya 10& Provincial
New
International New Delhi 24
As of As of Aug Aug 20092009
22QQ09 09 Quarterly Results BriefingQuarterly Results Briefing
FYFY09 09 OutlookOutlookFYFY09 09 OutlookOutlook
Politics remain uncertainS i f i
21,221
s
Some signs of economic turnaround, but still far
20,217
ness from full recovery
FY09 will be a very
usin FY09 will be a very
challenging year for the advertising industry
a bu
advertising industry
edia
1Q08
2Q08
3Q08
4Q08
1Q09
2Q09
Me
18
Total ADEX estimates by Nielsen Media ResearchBt.million
1 2 3 41 2
22QQ09 09 Quarterly Results BriefingQuarterly Results Briefing
FYFY09 09 OutlookOutlookFYFY09 09 OutlookOutlook
Continue to focus at core biz: Admissions, Concessions Bowling Rentals & ServicesConcessions, Bowling, Rentals & ServicesRebalance admission ticket price to maximize
s
on revenue potentials at each branchContinue concessions planning with menu variety
ctic
s Continue concessions planning with menu varietyRelocate asset to improve on the utilization and
fi i bili f h b h
Tac profit generating ability of each branch
Manage receivables
09 T g
2H0
19
entertainmententertainmententertainmententertainment
THANK YOUTHANK YOUTHANK YOUTHANK YOUMajor Cineplex Group PlcMajor Cineplex Group Plc..Q i fiQ i fiQuarterly Results BriefingQuarterly Results Briefing
Aug Aug 1414, , 2009200920
22QQ09 09 Quarterly Results BriefingQuarterly Results BriefingAppendixAppendix Major Cineplex Group Public Company LimitedAppendixAppendix Consolidated Statements of Income
Bt. Thousand 1Q08 2Q08 3Q08 4Q08 1Q09 2Q09
RevenuesRevenuesAdmissions 541,615 684,451 627,522 598,775 532,905 738,037Concessions sales 112,268 142,645 142,210 141,001 129,887 175,907Advertising services income 229,215 211,755 216,197 156,895 136,117 101,098Bowling and Karaoke services income 126,727 142,235 153,162 152,642 120,356 124,118Rentals and services income 78,397 83,233 84,246 92,735 93,831 97,345, , , , , ,Sales of VCD/DVD and film rights 127,450 119,946 123,329 239,804 166,959 189,407
Total revenues 1,215,671 1,384,266 1,346,667 1,381,854 1,180,055 1,425,912
CostsCost of film exhibition and theatre 501,026 599,053 566,436 535,574 503,243 626,691
L
Cost of concessions 45,239 56,194 56,609 55,453 53,754 66,897Cost of advertising services 7,863 13,296 7,456 16,494 15,053 18,452Cost of bowling and Karaoke services 89,039 93,391 97,316 105,047 84,696 88,243Cost of rentals and services 42,709 46,801 47,771 49,421 49,178 54,370Cost of sales of VCD/DVD and film rights 114,515 105,765 120,404 174,891 131,510 183,879
Total costs 800 390 914 499 895 992 936 880 837 434 1 038 533
P&
L Total costs 800,390 914,499 895,992 936,880 837,434 1,038,533
Gross profits 415,280 469,766 450,675 444,974 342,620 387,379Selling and administrative expenses 303,081 308,735 281,122 312,347 347,195 326,893
EBIT 112,199 161,031 169,553 132,627 -4,574 60,486
led
EBIT 112,199 161,031 169,553 132,627 4,574 60,486Disposal of investments 108,542 5,273 852 1,467Profit on disposals of property and equipment -24,428Other operating income 121,077 20,994 20,670 60,450 40,198 27,498Operating profit 341,818 187,298 190,223 169,501 35,624 89,452
tail Share of profit of investments - equity 91,128 51,285 7,113 -48,763 23,920 -15,474
Profit before interest and tax 432,946 238,584 197,336 120,738 59,544 73,977
Interest expense -23,245 -21,309 -26,150 -17,532 -30,052 -30,785Income tax -108,391 -58,889 -50,213 -40,584 -17,066 -29,889
Det Profit before minorities 301,310 158,386 120,973 62,622 12,425 13,303
Profit attributable to minorities, net 123 1,148 1,423 -19,630 -149 0Net profit 301,433 159,534 122,397 42,993 12,277 13,303
top related