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 2018 Earnings Presentation
16 slides from National Central Cooling Co. (p.s.c.) (tabreed)'s earnings presentation, Apr 26, 2018
Slide 1: National Central Cooling Company PJSC Q1 2018 Earnings Presentation
National Central Cooling Company PJSC (DFM:TABREED) Q1 2018 Earnings Presentation 26 April 2018
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
Performance Highlights Financial Highlights: Q1 2018 vs. Q1 2017 Total Revenue Chilled Water EBITDA Net Income AED 274m AED 259m AED 149m AED 78m +2% +1% +5% +3% Operational Highlights and Developments Performance • Chilled Water revenue growth at 1%; Chilled Water EBITDA up 7% Highlights • Tabreed
Slide 6: Regional Presence
Regional Presence The only publicly listed district cooling company in the world National Central Cooling Company and its UAE investments • 5 GCC countries | 72 plants | 1.1m tons of cooling • 60 consolidated plants, 3 held through associates and joint ventures • Plants in 6 emirates of the UAE - Ab
Slide 7: Connected Capacity
Connected Capacity • Previously announced capacity guidance of 65,000 RT to be added in 2018 and 2019 • Added 1,500 RT during Q1 2018 at Al-Maryah Island (Equity Accounted) • 32,800 RT of S&T’s capacity now recorded as consolidated capacity Consolidated Q1 2017 Q2 2017 Q3 2017 Q4 2017 Q1 2018 UAE 66
Slide 8: Q1 2018 Headline Performance
Q1 2018 Headline Performance UAE Other • Providing almost 1.1m RT of cooling across GCC – growing Long-term 5% annually since 2015 1,048 1,094 974 contracts with Group Connected 957 Long term contracts (~25 years) mean over 95% of Capacity (kRT) • 306 321 266 286 credit worthy contracted capacity lo
Slide 9: 2. Financial Results
fl tabreed Sustainable Cooling 2. Financial Rest
Slide 10: Q1 2018 Income Statement
Q1 2018 Income Statement Consolidated Financials (AED m) Q1 2018 Q1 2017 Variance % Revenue 274 270 4 2% Chilled water revenue (94%) 259 255 4 1% Value chain businesses (6%) 16 15 1 5% Operating cost (129) (128) (1) 1% Gross Profit 146 143 3 2% Gross profit margin 53% 53% Administrative and other ex
Slide 11: Q1 2018 Financial Position
Q1 2018 Financial Position Consolidated Financials (AED m) Mar 31, 2018 Dec 31, 2017 Variance % Fixed Assets 7,172 6,874 298 4% Associates and Joint Ventures 578 826 (248) -30% Accounts Receivable 481 517 (36) -7% Cash and Short Term Deposits 548 418 129 31% Other Assets 58 60 (2) -4% Total Assets 8
Slide 12: Q1 2018 Cash Flow Statement
Q1 2018 Cash Flow Statement Consolidated Financials (AED m) Q1 2018 Q1 2017 Variance % Profit from Operations 97 93 4 4% Finance lease amortization 17 14 3 22% Depreciation 35 34 1 3% Working Capital and Other adjustments 22 (65) 88 -135% Net cash flows from Operating Activities 171 76 95 126% Capit
Slide 13: Debt Portfolio
Debt Portfolio Net Debt Profile (AED m) • Conservative leverage profile with current gearing of 3,075 3,125 42% (debt to debt + equity) 2,622 2,228 • 95% of debt is denominated in AED, with the balance in USD and OMR, in line with cash flow generation profile • Target hedging range of 50-75% − Curre
Slide 14: 3. Conclusion
fl tabreed Sustainable Cooling 3. Conclusion)
Slide 15: Unique GCC-wide Infrastructure Assets Company
Unique GCC-wide Infrastructure Assets Company • District Cooling is a critical part of the growing GCC infrastructure Why District • District Cooling is 50% more efficient in consuming electricity than conventional cooling reducing energy consumption, Cooling? carbon footprint, and state subsidies w
Slide 16: Contact Us
Contact Us Saket Somani Churchgate Partners Tel: +971 4 3132432 Email: Tabreed@churchgatepartners.com Richard Rose Rachel Emmett VP – Finance Sr. Manager – Treasury & IR Tel: +971 2 2020400 Tel: +971 2 2020433 Email: IR@tabreed.ae Email: remmett@tabreed.ae Management looks forward to engaging with s
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