TTFB Restaurant Group 2025 Investor Conference

• 時間：2025

Company Overview

Taiwan's Largest Oriental Chain Restaurant Group

• Brands: 10 under the group
• Stores:
  • Total: 150 directly operated stores
• Employees: 4,000

Brand Highlights

瓦城 (Thai Town)

• Since: 1990
• Stores: 68
• Description: Taiwan's largest Thai cuisine chain emphasizing strict quality control over ingredients.
• Signature Dish: 月亮蝦餅 (Moon Shrimp Cake)
  • Made with 100% fresh shrimp paste, produced through 108 processes.
  • Annual sales: 800,000 servings (equivalent to 16 Taipei 101 buildings).

非常泰 (Very Thai)

• Since: 1995
• Stores: 6
• Description: Combines urban spicy cuisine with Lounge Bar trends to offer a relaxing atmosphere.
• Signature Dish: 辣炒手工剁牛小排 (Spicy Hand-Chopped Beef Short Ribs)

1010湘 (1010 Hunan Cuisine)

• Since: 2006
• Stores: 13
• Description: Authentic Hunan cuisine, blending tradition with innovation.
• Awards: "Taiwan's Best Restaurant" (Miele Guide), "Five-Star Service Award" (CommonWealth Magazine).

大心 (Bheart Noodles)

• Since: 2014
• Stores: 25
• Description: Innovative Thai noodle dishes using natural spices.
• Signature Dish: 酸辣海陸麵 (Spicy and Sour Seafood Noodles)

時時香 (Shann Rice Bar)

• Since: 2017
• Stores: 27
• Description: Reinvented Chinese home-style dishes with modern aesthetics.
• Signature Dishes: 3.5杯雞, 霸王甘蔗蝦, 厚煎菜脯蛋.

YABI Kitchen

• Since: 2019
• Stores: 3
• Description: Cross-border Asian cuisine featuring classic and innovative dishes.
• Signature Dishes: Hainanese Chicken Rice, Penang Char Kway Teow, 越香排骨 (Vietnamese Fragrant Ribs).

樂子 (The Diner)

• Since: 2006
• Stores: 6
• Description: Pioneer of American brunch in Taiwan; voted top 10 brunch spots by expats.

BO BO

• Since: 2023
• Stores: 1
• Description: Specializes in Thai street food-style fried noodles and skewers.
• Signature Elements: Tom Yum and Northern Thai flavors.

小香新台灣料理 (Shann Shann New Taiwanese Cuisine)

• Stores: 1
• Description: Creative upgrades to Taiwanese classics drawing inspiration from rich cultural heritage.

Business Segments and Strategic Initiatives

Competitive Advantage

• Developed Oriental Wok-Frying Chain System.
• Capability to replicate R&D and scale for oriental cuisines efficiently.

Challenges for Chaining Oriental Cuisine

• Ingredients: Diverse and unique.
• Processes: Complex cooking methods.
• Skills: Ensuring culinary skill consistency.

Achievements

• Ingredient Standardization: Over 700+ types standardized, e.g., 空心菜 (Water Spinach), 七星鱸魚 (Seven-star Sea Bass).
• Kitchen Management: Scientific workflows certified by SGS HM (Hygiene Monitored).
• Chef Training: Systematized "TTFB 13-level Armband Training System" reduces training period from 5 years to 1 year.

Financial Highlights

2025Q1 Income Statement Overview (NT$M)

Key Metrics

• Basic EPS (NT$): 2025Q1: 2.56 | 2024Q1: 2.52 (YoY: +1.59%).

Historical Gross Margins, Operating Margins, Net Margins

Markets and Global Strategy

Taiwan Market

• Revenue Trend:
  • 2013-2023 Industry Growth: ~450 NT$Bn (2013) → ~830 NT$Bn (2024E).
  • Events: Dip in 2020 followed by recovery in 2021-2023.
• TTFB’s Growing Market Share: 10% (2024E).

USA Market Expansion

• Focus Area: California
• First US Opening: Fall 2025 at Westfield Century City under brand "Very Thai".

Future Vision and Guidance

Global R&D Center Components

• Cuisine R&D Center
• Culinary Academy
• Food Safety and Logistics Centers

Vision

• Aspiration: Spread Taiwan’s culinary excellence globally.
• Objective: Become the largest Oriental cuisine chain worldwide.

Additional Data

• Taiwan Restaurant Industry Revenue YoY Growth: Regular expansion with accelerated recovery post-2020.
• TTFB Revenue & Store Count Historical Data: 2012 (40 stores, ~2000 NT$M) to 2024E (150 stores, ~6100 NT$M).

Summary

• Proven standardized systems enable scaling and precise R&D development for oriental cuisines.
• Financial strength, global focus, and innovative kitchen systems position TTFB as a leader in the restaurant chain industry.