Thailand · Delayed Price · Currency is THB Minor International PCL Earnings Call Transcripts
Fiscal Year 2026
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Opened seven hotels and signed 30 new contracts in H1, with strong RevPAR and revenue growth across key regions. Acquired Bonchon IP outside the Americas, expected to be immediately accretive. Margin protection and asset-light expansion remain strategic priorities.
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Asset-light expansion and digital transformation are driving growth, with over 50 new hotel contracts targeted for 2026 and a goal of 850 hotels by 2028. Q1 saw strong revenue and profit growth, robust bookings for Q3/Q4, and the REIT launch remains on track for early Q4.
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Q1 saw 5% revenue growth and a 189% surge in core profit, driven by strong hotel and restaurant performance, asset-light expansion, and digital transformation. Bookings for Q3 and Q4 are up year-on-year, with full-year net income expected to surpass last year despite global uncertainties.
Fiscal Year 2025
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Strong 2025 results with 16% profit growth, robust hotel and food segment expansion, and a focus on asset-light strategies. REIT IPO and branded residences drive deleveraging and capital efficiency, while guidance targets continued high growth and margin improvement.
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Strong Q3 performance with double-digit profit growth, driven by asset-light expansion and international diversification. Hotel and food segments showed resilience despite global headwinds, with major initiatives like REIT and Minor Food IPO set to unlock value and reduce leverage.
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Core profit grew 11% in Q2 and 22% in H1 on constant FX, driven by strong hotel and food performance despite global headwinds. Asset-light expansion, deleveraging, and margin improvements support confidence in meeting 2025 profit targets.
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Q1 2025 marked a turnaround with a THB 50 million core net profit, driven by strong RevPAR growth in key markets and margin expansion. Asset-light growth, disciplined capital allocation, and robust digital initiatives underpin a positive outlook, despite global volatility.
Fiscal Year 2024
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Record 2024 profit and revenue growth driven by premiumization, asset-light expansion, and strong global demand. Deleveraging, disciplined capital allocation, and digital transformation support robust outlook, with ambitious targets for 2025 and beyond.
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Achieved strong year-on-year growth in core profit and revenue, driven by robust hotel and food segment performance, global expansion, and operational efficiency. FX-related non-cash losses impacted reported profit but are expected to reverse in Q4.
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Record core profit and revenue growth driven by strong hotel and food business performance, especially in Europe, Americas, and Thailand. Asset-light expansion, loyalty program integration, and innovative product launches support future growth, while leverage and cost controls remain priorities.