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CENTRAL PLAZA HOTEL plc. (CENTEL) has achieved 120% increase in NET PROFIT for Q2/2011

BackAugust 25, 2011

Both the hotels business and the overall travel & tourism industry sectors have continued to show signs of sustained recovery from Q1/2011 - whereby, during Q2/2011, there has been a 50%YoY increase in international visitors coming to Thailand and a 28%YoY increase for the first 6 months period Jan - June 2011. This positive trend coupled with the continued Year-on-Year (YoY) GDP growth in the Thai economy has also had a sustained positive effect on the food services business sector - thus, in all resulting in CENTEL being able to achieve overall consolidated revenues of Baht 2,632.0 million for the Q2/2011 period (or equal to a 29%YoY growth and an increase of Baht 591.0 million when compared to the same period in 2010),

This 29%YOY growth in total consolidated CENTEL revenues in Q2/2011 has come from both a 47.0%YoY increase in its Hotels Business revenues and a 19.3%YoY increase in its Food Business revenues - resulting in a very dramatic turnaround in its Q2/2011 performance results in achieving a Net Profit of Baht 42.5 million (compared to a Net Loss of Baht 205.7 million in Q2/2010), or equal to an Net Profit increase of Baht 248.3 million or 120.7% YoY!. Moreover, CENTEL's Q2/2011 EBITDA was Baht 452.9 million - equal to a 10%YoY increase.

When compared to the same period last year, CENTELs' Q2/2011 Hotels Business has shown marked improvements, achieving

- An Average Occupancy (AoC) of 58.1% (versus 48.1% in Q2/2010) - due to the now full operational recovery of the Centara Grand Hotel and Bangkok Convention Centre at Central World, which had an overall AoC of 71.4% (versus only 11.2% in Q2/2010, when it was significantly and adversely affected by the lengthy political unrest and rallies occurring nearby at that time).

- An Average Room Rates/night (ARR) of Baht 3,228 (or an increase of 14.7%YoY) - which was derived from the sustained positive operating results of the Centara Grand Mirage Hotel & Beach Resort, Pattaya and the new Centara Grand Hotel & Beach Resort, Phuket together with the full operational recovery of the Centara Grand Hotel and Bangkok Convention Centre at Central World.

These positive factors helped CENTEL achieve total consolidated Hotels Business revenues of Baht 1,049.4 million in Q2/2011 - or equal to an increase of 74%YoY when compared to Baht 714.0 million for the same period in 2010.

As for CENTELs' Food Business, during Q2/2011 total consolidated revenues was Baht 1,582.6 million - or equal to an increase of 19.3%, when compared to Baht 1,326.5 million for the same period in 2010. This growth was driven by sustained food retail outlets expansion and marketing & promotions campaigns together with continued development of its innovative menu offerings. As at the end of Q2/2011, the Food Business Group achieved these key operational factors :

- A total of 519 food retail outlets for its various brand concepts - or an increase of 31 outlets (or 6.4%YoY) - compared to a total of 488 outlets as at end Q2/2010,
- Same Stores Sales (SSS) growth of 10.9% YoY - compared to 9.4% in Q2/2010
- Total Systems Sales (TSS) growth of 19% YoY - compared to 7.8% in Q2/2010

Therefore, due to these overall positive operational results during both Q1/2011 and Q2/2011, CENTEL has achieved total consolidated revenues, for the H1(Jan - June)/2011 period, of Baht 5,631.1 million - equal to an increase of 23.3% YoY or Baht 1,065.3 million when compared to the same period last year; whereby

- total H1/2011 Hotels Business revenues was Baht 2,569.4 million

or equal to an increase of 25.8%YoY, and

- total H1/2011 Food Business revenues was Baht 3,061.7 million

or equal to an increase of 21.3%YoY.

As for Net Profit for the H1/2011 period, CENTEL achieved a total consolidated Net Profit of Baht 443.5 million - being a very dramatic increase of Baht 444.7 million when compare to a Net Loss of Baht 1.2 million for the same half year period in 2010; while H1/2011 EBITDA was Baht 1,311.2 million - or an increase of 51.2%YoY.

The abovementioned significantly good results and operational trends for CENTEL points to the overall success of both its Hotels and Food Businesses as well as to the apparent sustained positive trends for the Thai hotel and travel & tourism and the food services sectors.

And, thus, the Company is confident that CENTEL will continue to achieve its stated operational and business performance targets - whereby the Company expects to achieve an overall consolidated revenues of Baht 11,000 million for the FY/2011 period.

 

For more information, please contact

Khun Ronnachit Mahatanapruet, SVP, Finance & Administration.

THE CENTRAL PLAZA HOTEL plc.
Floor 25, 999/99 Rama 1 Rd., Patumwan, BANGKOK 10300.
Tel : (66) 02 769 1234 (ext 6131) Fax : (66) 02 100 6231
E-mai: ronnachitma@chr.co.th or ir@chr.co.th

 

CENTEL'S CORPORATE PROFILE :
CENTRAL PLAZA HOTEL plc. (CENTEL) was established in 1980 by the Chirativat family. Currently, CENTEL operates a total of more than 32 hotel
properties both within Thailand and overseas, together with more than 519 Food Business retail outlets (as at end July 2011). Additonally, with its close
business cooperation with the ACCOR group, CENTEL is also able to have acess to a worldwide marketing network.

CENTEL also operates its Hotels Business under the "Centara Hotel & Resort" and the "Centara" brands together with other brands within the ACCOR hotels network. CENTEL has invested in various hotels properties in the local Thailand market (ie: Bangkok, Pattaya, Chiangmai, Mae Sot, Phuket,
Samui, Haadyai, Hua Hin, and Trad) as well as in key overseas markets (such as the Maldives); and CENTEL also has hotel management services operations in India and Egypt.

Furthermore, CENTEL is a pioneer in the Quick Service Restaurant (QSR) and Food Services business sector in Thailand - currently operating both its
own brands (ie: The Terrace and Ryu) as well as franchised international brands (ie: Mister Donut, KFC, Auntie Anne's, Pepper Lunch, Beard Papa's,
Coldstone Creamery ice cream and Chabuton), with a total of 519 retail food services outlets located on Bangkok and throughout 65 provinces in
Thailand. And more recently, CENTEL has purchased the well-known Japanese "OTOYA" QSR restaurant brand concept that currently has 33 retail
outlets, which CENTEL will start managing under its CRG operations from September 1, 2011 onwards.

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