National Central Cooling Co. (p.s.c.) (tabreed) · DFM:TABREED
National Central Cooling Co. (p.s.c.) (tabreed) — National Central Cooling Company PJSC (Tabreed) — Q1 2020 Earnings Presentation
17 slides from National Central Cooling Co. (p.s.c.) (tabreed)'s earnings presentation, May 7, 2020
Slide 1: National Central Cooling Company PJSC Q1 2020 Earnings Presentation
National Central Cooling Company PJSC (DFM:TABREED) Q1 2020 Earnings Presentation 7 May 2020
Slide 2: Disclaimer
Disclaimer • These materials have been prepared by and are the sole responsibility of the • No person is authorized to give any information or to make any representation National Central Cooling Company PJSC, ‘Tabreed’ (the “Company”). These not contained in and not consistent with these materials a
Slide 3: Agenda
Agenda 1. Introduction and Performance Highlights 2. Financial Results 3. Conclusion NATIONAL CENTRAL COOLING COMPANY PJSC 3
Slide 4: 1. Introduction and Performance Highlights
1. Introduction and Performance Highlights
Slide 5: Performance Highlights and Corporate Developments
Performance Highlights Financial Highlights: Q1 2020 vs. Q1 2019 AED 277m AED 294m AED 178m AED 82m +0.4% (0.8)% +4.7% +2.7% Chilled Water Revenue Total Revenue EBITDA Net Income Performance Highlights and Corporate Developments • Chilled Water revenue grew 0.4%. Total Revenue decreased by (0.8)% du
Slide 6: Tabreed at a Glance
Tabreed at a Glance One of the world’s largest district cooling companies 83 Equivalent to cooling plants in 1.35m RT 135 5 countries delivered to clients towers the size of Burj Khalifa Environmentally responsible operations reducing green house gas emissions 2.06 billion kWh 1.23 million tons annu
Slide 7: Regional Presence
Regional Presence The only publicly listed and regional district cooling company in the world National Central Cooling Company and its UAE investments • 5 GCC countries | 83 plants | 1.35m tons of cooling • 62 consolidated plants, 8 held through associates and joint ventures • Plants in 6 emirates o
Slide 8: Connected Capacity
Connected Capacity • Previously announced capacity guidance of 75,000 RT to be added over 2020 and 2021 • Organic capacity addition of 12,762 RT during Q1 2020 • Acquisition of Dubai Downtown added another 150,000 RT Consolidated Q1 2019 Q2 2019 Q3 2019 Q4 2019 Q1 2020 UAE 705 708 708 724 875* Bahra
Slide 9: Headline Performance
Headline Performance UAE Other • Providing over 1.35m RT of cooling across GCC – grown at Long-term 8% CAGR since 2017 1,345 Group Connected Capacity (kRT) 1,234 contracts with • Long term contracts (~25 years) mean over 90% of 1,068 1,094 399 306 321 358 credit worthy contracted capacity locked in
Slide 10: 2. Financial Results
fl tabreed Sustainable Cooling 2. Financial Rest
Slide 11: Income Statement
Income Statement Consolidated Financials (AED m) Q1 2020 Q1 2019 Variance % Revenue 294 297 (3) -1% Chilled water revenue (94%) 277 276 1 0% Value chain businesses (6%) 17 21 (4) -17% Operating cost (131) (135) 4 -3% Gross Profit 163 162 1 1% Gross profit margin 55% 54% Administrative and other expe
Slide 12: Financial Position
Financial Position Consolidated Financials (AED m) Mar 31, 2020 Dec 31, 2019 Variance % Fixed Assets 7,255 7,288 (33) 0% Associates and Joint Ventures 712 732 (20) -3% Accounts Receivable 669 593 76 13% Cash and Short Term Deposits 2,705 227 2,478 - Other Assets 66 63 3 4% Total Assets 11,407 8,904
Slide 13: Cash Flow Statement
Cash Flow Statement Consolidated Financials (AED m) Q1 2020 Q1 2019 Variance % Profit from Operations 105 110 (5) -4% Finance lease amortization 30 14 16 108% Depreciation 43 46 (3) -7% Working Capital and other adjustments (128) 68 (196) -289% Net cash flows from Operating Activities 49 238 (189) -
Slide 14: Debt Portfolio and Return Ratios
Debt Portfolio and Return Ratios • Current gearing of 40%* (vs. 39% in Dec 2019); Increase in debt in 2019 and 2020 due to implementation of IFRS 16 • No significant debt repayments until the Sukuk matures and new acquisition term loan bullet becomes due in 2025. However, the robust cash flow profil
Slide 15: 3. Conclusion
fl tabreed Sustainable Cooling 3. Conclusion)
Slide 16: Unique GCC-wide Infrastructure Assets Company
Unique GCC-wide Infrastructure Assets Company Why District • District Cooling is a critical part of the growing GCC infrastructure Cooling? • District Cooling is 50% more energy efficient than conventional cooling and 16% cheaper for the customer • One of the largest district cooling companies in th
Slide 17: Contact Us
Contact Us Saket Somani Churchgate Partners Email: Tabreed@churchgatepartners.com Richard Rose Salik Malik SVP, Finance Head, Financial Planning & Analysis Tel: +971 2 2020400 Tel: +971 2 2020397 Email: IR@tabreed.ae Email: SMalik@tabreed.ae NATIONAL CENTRAL COOLING COMPANY PJSC
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