National Central Cooling Co. (p.s.c.) (tabreed) · DFM:TABREED
National Central Cooling Co. (p.s.c.) (tabreed) — National Central Cooling Company PJSC (Tabreed) — Q2 2013 Earnings Presentation
16 slides from National Central Cooling Co. (p.s.c.) (tabreed)'s earnings presentation, Aug 1, 2013
Slide 1: Q2 2013 Results Presentation
National Central Cooling Company PJSC Tabreed Q2 2013 Results Presentation
Slide 2: Disclaimer
Disclaimer • These materials have been prepared by and are the sole responsibility of the National Central Cooling Company PJSC, ‘Tabreed’ (the “Company”). These materials have been prepared solely for your information and for use at the presentation to be made on 1 August 2013. By attending the mee
Slide 3: Agenda
Agenda • Overview • Headline Performance • Operational and Financial Highlights • Chilled Water Performance • Summary 3
Slide 4: Tabreed's Story
Tabreed’s Story …District Cooling (DC) is 50% more Overall cooling represents 70% of Abu …DC comes at ~16% lower life cycle energy efficient than Conventional Dhabi’s energy peak consumption… cost than CC Cooling (CC)… 100% 84% -16% 63% -50% Paid 49 Upfront 39 Capex KWh/RTh 7% Charged 51 45 Variable
Slide 5: Headline Performance
Headline Performance Strong focus on • Core Chilled Water Revenue up 4% to AED 262m • Group Revenue down slightly to AED 279m Core Business • Core business represents 94% of revenue (2010: 70%) Strong operating • 15% increase in Profit from Operations since Q2 2012 • 52% increase in Profit from Oper
Slide 6: Operational Highlights
Operational Highlights Number of Plants Gross Capacity Group Revenue (AED m) Group EBITDA Margin The company continues to benefit from the earlier growth to achieve stability 6
Slide 7: Financial Highlights – Income Statement
Financial Highlights – Income Statement Unaudited Consolidated Financials (AED m) Q2 2013 Q2 2012 6% decrease in revenue as a result of contraction of the VCBs, as expected. Revenues 278.7 296.6 Chilled Water revenue increased 4% Chilled Water (94% of revenue) 262.1 251.7 due to the continued focus
Slide 8: Financial Highlights – Balance Sheet
Financial Highlights – Balance Sheet Unaudited Consolidated Financials (AED m) Jun 2013 Dec 2012 Fixed Assets 6,743.6 6,790.3 Associates and Joint Ventures 476.1 459.5 Driven by customers receivable Accounts Receivable & Prepayments 532.8 558.3 optimization Higher cash generation offset by debt Cash
Slide 9: Financial Highlights – Cashflow
Financial Highlights – Cashflow Unaudited Consolidated Financials (AED m) H1 2013 H1 2012 EBITDA for the period 240.5 223.0 Increase of 8% year on year Finance income relating to finance lease receivable (60.8) (60.8) Lease Rentals Received 66.8 49.7 Working Capital Adjustments 20.4 30.4 Increase of
Slide 10: Chilled Water Performance
Chilled Water Performance Gross Capacity (kRT) Revenue (AED m) Unaudited Consolidated Profit from Operations (AED m) Financials (AED m) Q2 2013 Q2 2012 Variance Revenues 262.1 251.7 4% Operating Costs (135.5) (138.8) 2% Gross Profit 126.6 112.9 12% Gross Profit Margin 48% 45% Profit from Operations
Slide 11: Chilled Water – GCC Presence
Chilled Water – GCC Presence Total Gross Capacity (kRT) Gross Capacity by Region (kRT) Chilled Water Ownership (AED m) UAE Bahrain Qatar Other Total Revenues 255.6 5.3 - 1.2 262.1 Operating Costs (130.3) (4.5) - (0.7) (135.5) Gross Profit 125.3 0.8 - 0.5 126.6 Gross Profit 48% 15% - 42% 48% Margin P
Slide 12: Summary
Summary Strong Business • Many of our contracts are with UAE government entities • Long-term, stable contracts with guaranteed returns Model • We are a utility company offering cooling services in the Middle East Robust Financial • Q2 2013 Chilled Water Revenue both up 4% to AED 262.1m Results • Q2
Slide 13: Q&A
fi tabreed Q&A 13
Slide 14: Contact Details
Contact Details For further information please contact Salam Kitmitto Communications Director skitmitto@tabreed.ae +971 2 645 5007 ext. 692 Suzanne Holt Snr. Corporate Finance and Investor Relations Manager sholt@tabreed.ae +971 2 645 5007 ext. 424 14
Slide 15: Appendix
Appendix 15
Slide 16: Financial Highlights–HY Income Statement
Financial Highlights–HY Income Statement Unaudited Consolidated Financials (AED m) H1 2013 H1 2012 4% decrease in revenue as a result of contraction of the VCBs, as expected. Revenues 497.2 515.7 Chilled Water revenue increased 4% Chilled Water (93% of revenue) 464.8 444.9 due to the continued focus
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