Ctf Services Limited · HKEX:659
Ctf Services — NWS Holdings — FY2013 Earnings Presentation
36 slides from Ctf Services's earnings presentation, Sep 25, 2013
Slide 1: FY2013 Annual Results
sS~” An Fall $2 NWS FY2013 Annual Results FORGING AHEAD PURSUING VALUE
Slide 2: New World Group Structure
New World Group Structure New World Development Company Limited 新世界發展有限公司 (HK stock code: 17) 69.8% 61.1% 72.3% New World China Land New World Department Store Limited China Limited 新世界中國地產有限公司 新世界中國地產有限公司 NWS Holdings Limited 新世界百貨中國有限公司 新世界百貨中國有限公司 (HK stock code: 917) 新創建集團有限公司 創建集團有限公司 (HK stock
Slide 3: NWS Investment Portfolio
NWS Investment Portfolio Infrastructure Services 基建 服務 Roads Facilities Management 道路 設施管理 Energy 能源 Construction & Transport Water 建築及交通 水務 Strategic Investments Ports & Logistics 策略性投資 港口及物流 3
Slide 4: Financial Summary
Financial Summary 2013 2012 Change For the year ended 30 June (HK$’M) (HK$’M) + / (-)% Revenue 16,247.9 14,954.3 9 Attributable Operating Profit 4,267.3 4,207.6 1 (AOP) Profit Attributable to 4,008.0 5,251.1 (24) Shareholders (PAT) Earnings per share HK$1.11 HK$1.53 (27) Dividend per share HK$0.55 H
Slide 5: Financial Position
Financial Position Total cash and bank balances: HK$7.8 billion Total debt: HK$17.7 billion Net debt position: HK$9.9 billion Net gearing: 24% (34% as at 30 June 2012) (As at 30 June 2013) 5
Slide 6: Attributable Operating Profit by Segment and Region
Attributable Operating Profit By Segment By Region HK$’M HK$’M 4,500 4,208 4,267 4,500 4,208 4,267 4,000 4,000 3,500 3,500 2,133 2,288 2,288 2,241 2,205 3,000 (51%) (54%) 3,000 (53%) (52%) 2,500 2,500 2,000 2,000 1,500 2,075 1,979 1,500 1,967 2,062 1,000 (49%) (46%) 1,000 (47%) (48%) 500 500 0 0 FY2
Slide 7: AOP by Segment - Infrastructure
Infrastructure Roads Energy Water Ports & Logistics AOP by Segment 2013 2012 Change % For the year ended 30 June (HK$’M) (HK$’M) Fav. Roads 1,238.2 1,210.1 2 Energy 330.2 262.2 26 Water 389.3 359.3 8 Ports & Logistics 330.4 301.4 10 Total 2,288.1 2,133.0 7 7
Slide 8: AOP by Segment - Services
Services Facilities Management Construction & Transport Strategic Investments AOP by Segment 2013 2012 Change % For the year ended 30 June (HK$’M) (HK$’M) Fav./(Unfav.) Facilities Management 1,123.6 1,184.0 (5) Construction & Transport 394.3 334.2 18 Strategic Investments 461.3 556.4 (17) Total 1,97
Slide 9: Infrastructure
INFRASTRUCTURE Roads Energy Water Ports & Logistics 9
Slide 10: Infrastructure Projects
INFRASTRUCTURE As at 30 June 2013 Roads and related projects in Guangdong, 20 Guangxi, Shanxi, Zhejiang and Tianjin Roads 1 Tunnel project in Hong Kong 4 Power plants in the PRC and Macau 1 Coal distributor in Guangzhou Energy Water treatment projects in the PRC and 25 Macau 1 Incineration plant in
Slide 11: Infrastructure AOP - Roads
Infrastructure Roads Energy Water Ports & Logistics AOP – Roads 29% HK$’M 1,400 FY2013 AOP (+2%) 1,200 1,000 1,210 1,238 800 600 400 200 0 FY2012 FY2013 11
Slide 12: Highlights - Roads
Infrastructure Roads Energy Water Ports & Logistics Highlights – Roads Hangzhou Ring Road 杭州繞城 杭州繞城公路 繞城公路 Full-year contribution at 95% interest Average toll per vehicle up 17% after cancellation of annual pass Tangjin Expressway (Tianjin North Section) 唐津高速公路( 唐津高速公路(天津北段) 天津北段) Traffic dropped by
Slide 13: Infrastructure AOP - Energy
Infrastructure Roads Energy Water Ports & Logistics AOP – Energy 8% HK$’M FY2013 AOP 350 (+26%) 300 250 200 262 330 150 100 50 0 FY2012 FY2013 13
Slide 14: Highlights - Energy
Infrastructure Roads Energy Water Ports & Logistics Highlights – Energy Zhujiang Power Plants 珠江電廠 Fuel costs down 28% Chengdu Jintang Power Plant 成都金堂 成都金堂電廠 金堂電廠 Fuel costs down 15% Zhujiang Power Plant Macau Power 澳門電力 Sales up 5% Chengdu Jintang Power Plant 14
Slide 15: Infrastructure AOP - Water
Infrastructure Roads Energy Water Ports & Logistics AOP – Water 9% HK$’M 400 (+8%) FY2013 AOP 350 300 359 389 250 200 150 100 50 0 FY2012 FY2013 15
Slide 16: Highlights - Water
Infrastructure Roads Energy Water Ports & Logistics Highlights – Water Mainland China projects reported healthy sales volume growth Sanya Water Plant up 8% Shanghai SCIP Water Treatment Plants (industrial wastewater) up 8% Chongqing Tangjiatuo Waste Water Plant up 15% Macau Water Plant Sales volume
Slide 17: Infrastructure AOP - Ports & Logistics
Infrastructure Roads Energy Water Ports & Logistics AOP – Ports & Logistics 8% HK$’M 350 (+10%) FY2013 AOP 300 250 301 330 200 150 100 50 0 17 FY2012 FY2013
Slide 18: Highlights - Ports & Logistics
Infrastructure Roads Energy Water Ports & Logistics Highlights – Ports & Logistics Tianjin Orient Container Terminals 天津東方海陸集裝箱 天津東方海陸集裝箱碼頭 東方海陸集裝箱碼頭 Throughput up 9% Tianjin Five Continents Int. Container Terminals 天津五洲國際 天津五洲國際集裝箱 五洲國際集裝箱碼頭 集裝箱碼頭 Throughput up 6% ATL Logistics Centre NWS Kwai Chun
Slide 19: Xiamen Merger Update
Infrastructure Roads Energy Water Ports & Logistics Xiamen Merger Update Expected to be completed by the end of 2013 Estimated gain of approximately HK$0.6 billion in 1HFY2014 Synergy effect with a network of 25 berths Major shipping hub in south-east China Xiamen Haicang Xinhaida Container Terminal
Slide 20: China Rail Container Terminals Project (CUIRC)
Infrastructure Roads Energy Water Ports & Logistics China Rail Container Terminals Project (CUIRC) Continuous business development Terminal in operation Chongqing expansion scheduled in late 2013 Kunming Qingdao Ancillary services • • • Chongqing • Wuhan Government support policies • Chengdu • Xian
Slide 21: Services
SERVICES Facilities Management Construction & Transport 21
Slide 22: AOP - Facilities Management
Services Facilities Management Construction & Transport Strategic Investments AOP – Facilities Management 26% HK$’M FY2013 AOP 1,200 (-5%) 1,000 1,184 1,124 800 600 400 200 0 22 FY2012 FY2013
Slide 23: Highlights - Facilities Management
Services Facilities Management Construction & Transport Strategic Investments Highlights – Facilities Management HKCEC Over 1,100 events were held with total patronage of approximately 5.2 million Food and beverage revenue up 9% Free Duty Traveller volume through Lo Wu, Lok Ma Chau and Hung Hom MTR
Slide 24: AOP - Construction & Transport
Services Facilities Management Construction & Transport Strategic Investments AOP – Construction & Transport 9% HK$’M 400 (+18%) FY2013 AOP 350 300 250 334 394 200 150 100 50 0 24 FY2012 FY2013
Slide 25: Highlights - Construction & Transport
Services Facilities Management Construction & Transport Strategic Investments Highlights – Construction & Transport Construction Gross contract-on-hand: HK$43.9 billion Remaining value: HK$33.5 billion Transport Average fuel cost dropped by 4% due to fuel hedging Average patronage up 3% 25
Slide 26: AOP - Strategic Investments
Services Facilities Management Construction & Transport Strategic Investments AOP – Strategic Investments 11% HK$’M 600 FY2013 AOP 500 (-17%) 400 556 461 300 200 100 0 26 FY2012 FY2013
Slide 27: Highlights - Strategic Investments
Services Facilities Management Construction & Transport Strategic Investments Highlights – Strategic Investments Profit contributions from Tricor Holdings Limited Haitong International Other securities investments Scaling down of securities investments portfolio 27
Slide 28: PAT & AOP
PAT & AOP CAGR: 6 11.2% 5 PAT HK$'billion AOP 4 3 CAGR: 9.4% 2 1 0 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 Financial Year 28
Slide 29: Net Assets
Net Assets CAGR: 17.1% 45 $41.0B 40 35 30 HK$'Billion 25 20 15 $9.9B 10 5 0 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 Financial Year 29
Slide 30: Outlook - Infrastructure
OUTLOOK- INFRASTRUCTURE AOP – Infrastructure CAGR: 10.8% HK$’M 2,500 2,000 1,500 1,000 500 0 2009 2010 2011 2012 2013 Financial Year Roads Energy Water Ports & Logistics 30
Slide 31: Outlook - Infrastructure: Roads, Energy, Water
OUTLOOK- INFRASTRUCTURE Roads Continuous traffic growth in line with automobile sales and urbanization in Mainland China Impact of adverse toll policies fully reflected in FY2013 Proposed amendments to “Regulation on the Administration of Toll Roads” expected to set clear directives Energy Positive
Slide 32: Outlook - Services
OUTLOOK - SERVICES AOP – Services CAGR: HK$’M 19.2% 2,500 2,000 1,500 1,000 500 0 2009 2010 2011 2012 2013 Financial Year Facilities Management Construction & Transport Strategic Investments 32
Slide 33: Outlook - Services: HKCEC and Free Duty
OUTLOOK - SERVICES HKCEC Steady revenue growth from exhibition related business and food and beverages Free Duty Robust patronage growth at Lo Wu & Lok Ma Chau MTR Stations and increase in spending power of individual travellers 33
Slide 34: Gleneagles Hong Kong Hospital
OUTLOOK - SERVICES GLENEAGLES HONG KONG HOSPITAL 港怡醫院 Private hospital development at Wong Chuk Hang (awarded in March 2013) Parkway Pantai (60%); NWS (40%); Faculty of Medicine of HKU (clinical partner) Total investment – approximately HK$5B (including HK$1.69B land cost) Healthcare services for th
Slide 35: Disclaimer
Disclaimer NWS Holdings Limited (“NWS”) makes no representation or warranty of any kind, express, implied or statutory regarding the accuracy or completeness of the information contained. The information in this presentation is prepared solely for information purposes only. Users and readers are cau
Slide 36: Q&A Session
—— #01 fall 32 NWS Q&A Session 36