National Central Cooling Co. (p.s.c.) (tabreed) · DFM:TABREED
National Central Cooling Co. (p.s.c.) (tabreed) — National Central Cooling Company PJSC (Tabreed) — H1 2019 Earnings Presentation
17 slides from National Central Cooling Co. (p.s.c.) (tabreed)'s earnings presentation, Aug 1, 2019
Slide 1: National Central Cooling Company PJSC H1 FY2019 Earnings Presentation
National Central Cooling Company PJSC (DFM:TABREED) H1 FY2019 Earnings Presentation 1 August 2019
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 Developments
Performance Highlights Financial Highlights: H1 2019 vs. H1 2018 AED 672m AED 634m AED 366m AED 199m +3.3% +2.8% +12.2% +11.2% Total Revenue Chilled Water Revenue EBITDA Underlying Net Income* Performance Highlights and Corporate Developments • Total Revenue growth at 3.3% and Chilled Water revenue
Slide 6: Tabreed at a Glance
Tabreed at a Glance One of the world’s largest district cooling companies Equivalent to cooling 75 plants in 1.15m RT 115 5 countries delivered to clients towers the size of Burj Khalifa Environmentally responsible operations reducing green house gas emissions 1.97 billion kWh 986,000 tons annual re
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 | 75 plants | 1.15m tons of cooling • 55 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 65,000 RT to be added in 2019 and 2020 • Added 11,518 RT during Q2 2019 including a new plant at Mall of Muscat (8,400 RT) • YTD additions of 14,468 RT, all at the consolidated level Consolidated Q2 2018 Q3 2018 Q4 2018 Q1 2019 Q2 2019 U
Slide 9: Headline Performance
Headline Performance UAE Other • Providing over 1.15m RT of cooling across GCC – growing 5% Long-term annually since 2016 Group Connected 1,146 Capacity (kRT) 1,122 contracts with • Long term contracts (~25 years) mean over 90% of 980 1,084 315 348 379 credit worthy contracted capacity locked in for
Slide 10: 2. Financial Results
fl tabreed Sustainable Cooling 2. Financial Rest
Slide 11: H1 2019 Income Statement
H1 2019 Income Statement Consolidated Financials (AED m) H1 2019 H1 2018 Variance % Revenue 672 651 21 3% Chilled water revenue (93%) 634 617 17 3% Value chain businesses (7%) 38 33 4 12% Operating cost (322) (329) 7.5 -2% Gross Profit 350 321 29 9% Gross profit margin 52% 49% Administrative and oth
Slide 12: H1 2019 Financial Position
H1 2019 Financial Position Consolidated Financials (AED m) Jun 30, 2019 Dec 31, 2018 Variance % Fixed Assets 7,349 7,026 323 5% Associates and Joint Ventures 585 579 5 1% Accounts Receivable 609 568 41 7% Cash and Short Term Deposits 201 249 (48) -19% Other Assets 62 61 0 0% Total Assets 8,806 8,484
Slide 13: H1 2019 Cash Flow Statement
H1 2019 Cash Flow Statement Consolidated Financials (AED m) H1 2019 H1 2018 Variance % Profit from Operations 245 219 26 12% Finance lease amortization 29 33 (4) -11% Depreciation 92 74 17 23% Working Capital and other adjustments (16) (45) 28 -63% Net cash flows from Operating Activities 349 281 68
Slide 14: H1 2019 Debt Portfolio and Return Ratios
H1 2019 Debt Portfolio and Return Ratios • Current gearing of 41% (vs. 39% in Dec 2018 and 42% in Jun 2018); Increase in debt in H1 2019 due to implementation of IFRS 16 • No significant debt repayments until the Sukuk matures in 2025 • Strong improvement in Net Debt to EBITDA ratio as EBITDA contin
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 Tel: +971 4 3132432 Email: Tabreed@churchgatepartners.com Richard Rose Salik Malik Vice President, Finance Head, Financial Planning & Analysis Tel: +971 2 2020400 Tel: +971 2 2020397 Email: IR@tabreed.ae Email: smalik@tabreed.ae NATIONAL CENTRAL COOLING CO
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