Mr. Chaiyapat Paitoon, Chief Financial Officer of Minor International Public Company Limited (SET: MINT), informed Kaohoon that the company’s 2Q25 performance would grow from the previous quarter and from the same quarter of the previous year. As for its quarterly financial statement, the company will hold an executive meeting to approve it on August 1.
MINT’s 2Q25 performance will likely have a significant growth due to the European tourism season, while the previous quarter was an offseason. As for when compared to the same quarter of the previous year, the company’s performance has improved due to its hotel business in Europe, Maldives, and Australia.
In Europe, MINT’s second quarter Revenue Per Available Room (RevPar) showed strong growth, middle- and high-single digit increases across all regions. This development is due to traveling demands for relaxation and business and ability to increase the room rate.
Meanwhile, in Australia, the RevPar is returning to positive growth, with a mid-single digit increase. This development is primarily due to exhibition and Rugby matches, such as the State of Origin series.
As for Maldives, the RevPar continues to grow strongly, advancing more than 40% due to the expansion of customer base and the capability to generate revenue from other sources besides from room rate. MINT has been focusing on add-on experience such as introducing packages that include overwater suites and food services.
MINT’s food businesses in Thailand also maintain their market share at an exceptional level compared to the competitors’. The company’s same store sales growth, however, slightly declined YoY, primarily due to declining consumer confidence in Thailand amid economic slowdown.
MINT has introduced a wide variety of menus, allowing customers to select food for one person or many. This strategy increases the probability of customers using the service and returning. Several MINT’s major brands are using this measure and are reporting strong revenue growth. These brands include The Pizza Company, Burger King, and Bonchon.
Krungsri Securities has recommended a “BUY” rating for MINT, with a target price of THB 38 per share. The securities company viewed that MINT’s second quarter net profit would grow due to the strong hotel business and expected RevPar to have a low single digit growth.
There is also the recovery in Europe and Maldives and the strong total sales growth rate in the food business. After analysing these factors, the securities company estimated that MINT’s annual core profit would reach THB 9.2 billion, a 10% increase from last year.
The securities company also estimated an additional debt payment in the latter half of the year after net IBD/E dropped to 0.83x, and will likely fall to 0.7x by the end of the year, primarily due to the strong cash flow and balance sheet.
