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MD&A
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4Q17 and 2017 Performance

Minor International Public Company Limited (“MINT”) reported y-y revenue growth of 12% in 4Q17 and 8% in 2017, while net profit increased by 20% in 4Q17 and 18% in 2017, compared to 4Q16 and 2016 core revenue and net profit, respectively. Note that in 2016, MINT recorded non-recurring items as required under Thai Generally Accepted Accounting Principles (Thai GAAP), which are detailed in the non-recurring table on page 3.

In a move to reward its shareholders, MINT’s Board of Directors proposed to pay cash dividend in the amount of Baht 0.40 per share. The dividend payment is subject to MINT’s shareholder’s approval at the Annual General Meeting of Shareholders to be held on April 3rd, 2018.

For fourth quarter performance, MINT reported total revenue of Bt 15,578m, a 12% growth from 4Q16 core revenue, attributable to outstanding performance of all three business units. Hotel and mixed-use business showed revenue growth of 14% from 4Q16 core revenue, bolstered by the robust performance of Thailand hotels and Tivoli-branded hotels in Portugal and Brazil, turnaround of the Maldives operation, as well as strong contributions from real estate business and MINT’s recent investment in Corbin & King (C&K), which operates a chain of restaurants and manages a hotel in the UK. Restaurant business posted revenue growth of 8% y-y, driven by the performance of Thailand and China hubs. Lastly, retail trading & contract manufacturing business reported revenue growth of 29% y-y, supported by organic growth of existing retail brands, the ramping up of new retail brands and the recovery of the contract manufacturing business.

In 4Q17, hotel & mixed-use business accounted for 54% of total revenue. Restaurant business contributed 39% of total revenue, while retail trading and contract manufacturing contributed the remaining 7%.

Revenue Breakdown

Bt million 4Q17 4Q17 %Chg
As Reported      
Restaurant Services 6,053 5,621 8%
Hotel & Mixed-Use 8,352 7,872 6%
Retail Trading & Contract Manufacturing 1,173 910 29%
Total Revenue 15,578 14,403 8%
Core*      
Restaurant Services 6,053 5,621 8%
Hotel & Mixed-Use 8,352 7,344 14%
Retail Trading & Contract Manufacturing 1,173 910 29%
Total Revenue 15,578 13,875 12%

* Exclude non-recurring items as detailed in the table on page 3

 

 

Management Discussion and Analysis 2018
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4Q17 Performance
3Q17 Performance
2Q17 Performance
1Q17 Performance
Management Discussion and Analysis 2016
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4Q16 Performance
3Q16 Performance
2Q16 Performance
1Q16 Performance
Management Discussion and Analysis 2015
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4Q15 Performance
3Q15 Performance
2Q15 Performance
1Q15 Performance
Management Discussion and Analysis 2014
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4Q14 Performance
3Q14 Performance
2Q14 Performance
1Q14 Performance
Management Discussion and Analysis 2013
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4Q13 Performance
3Q13 Performance
2Q13 Performance
1Q13 Performance
Management Discussion and Analysis 2012
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4Q12 Performance
3Q12 Performance
2Q12 Performance
1Q12 Performance
Management Discussion and Analysis 2011
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4Q11 Performance
3Q11 Performance
2Q11 Performance
1Q11 Performance
Management Discussion and Analysis 2010
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4Q10 Performance
3Q10 Performance
2Q10 Performance
1Q10 Performance
Management Discussion and Analysis 2009
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4Q09 Performance
3Q09 Performance
2Q09 Performance
1Q09 Performance
Management Discussion and Analysis 2008
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4Q08 Performance
3Q08 Performance
2Q08 Performance
1Q08 Performance
Management Discussion and Analysis 2007
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4Q07 Performance
3Q07 Performance
2Q07 Performance
1Q07 Performance
Management Discussion and Analysis 2006
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4Q06 Performance
3Q06 Performance
2Q06 Performance
1Q06 Performance