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 2014 Earnings Presentation
16 slides from National Central Cooling Co. (p.s.c.) (tabreed)'s earnings presentation, Apr 28, 2014
Slide 1: National Central Cooling Company PJSC Q1 2014 Results Presentation
National Central Cooling Company PJSC 28 April 2014 Q1 2014 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 28 April 2014. By attending the mee
Slide 3: Agenda
Agenda • Our 15 Year Journey • Headline Performance • Operational and Financial Highlights • Chilled Water Performance • Summary 3
Slide 4: Our 15 Year Journey
Our 15 Year Journey World’s Largest District Cooling Company Iconic Projects 66 Plants in the GCC …delivering 856,000 RT …equivalent to cooling 85 Burj Khalifa towers ..of cooling to our clients High Contributor to the Environment Energy Efficiency Elimination of 1.2 billion kWh 570,000 tons 2013 re
Slide 5: Headline Performance
Headline Performance VCB Profit from Ops CW Profit from Ops • Chilled Water Revenue up 3% to AED 208.2m 74 76 78 2 Strong focus on AED m 0 1 • 3% increase in Chilled Water Profit from Operations 64 Core Business 8 73 74 77 • CW business represents 97% of Profit from Operations 57 Q1 2011 Q1 2012 Q1
Slide 6: Operational Highlights
Operational Highlights Number of Plants Gross Capacity CAGR +7% CAGR +11% 65 66 66 856 kRT 801 kRT 54 703 kRT 617 kRT Q1 2011 Q1 2012 Q1 2013 Q1 2014 Q1 2011 Q1 2012 Q1 2013 Q1 2014 Group Revenue (AED m) Group EBITDA Margin Value Chain Business Chilled Water 48% 50% 50% 62 16 19 26 39% 193 203 208 1
Slide 7: Financial Highlights – Income Statement
Financial Highlights – Income Statement Unaudited Consolidated Financials (AED m) Q1 2014 Q1 2013 4% increase in revenue Revenue 227.2 218.6 Chilled Water (92% of revenue) 208.2 202.7 Value Chain Businesses (8% of revenue) 19.0 15.9 Operating Costs (108.2) (106.9) Gross Profit 119.0 111.7 1% increas
Slide 8: Financial Highlights – Balance Sheet
Financial Highlights – Balance Sheet Unaudited Consolidated Financials (AED m) Q1 2014 Q1 2013 Fixed Assets 6,637.3 6,748.9 14% increase, mainly as a result of Associates and Joint Ventures 537.4 471.1 increased profits from Qatar Cool 30% reduction as a result of continued Accounts Receivable 264.6
Slide 9: Financial Highlights – Cashflow
Financial Highlights – Cashflow Unaudited Consolidated Financials (AED m) Q1 2014 Q1 2013 EBITDA for the period 112.8 110.4 Finance Income relating to Finance Lease receivable (30.4) (30.5) Lease Rentals received 35.9 36.0 Working Capital Adjustments 6.2 10.8 Strong stable cashflows, as expected fro
Slide 10: Chilled Water Performance
Chilled Water Performance Gross Capacity (kRT) Revenue (AED m) Other Group UAE CAGR +4% CAGR +11% 208 203 193 184 203 189 138 110 612 653 507 565 Q1 2011 Q1 2012 Q1 2013 Q1 2014 Q1 2011 Q1 2012 Q1 2013 Q1 2014 Chilled Water UAE Bahrain Qatar Other Total Profit from Operations (AED m) (AED m) UAE Bah
Slide 11: Summary
Summary • Air conditioning is an absolute necessity in the GCC Why District • District Cooling enables a 50% reduction in energy consumption and carbon footprint Cooling? • District Cooling is 16% cheaper than conventional cooling • Tabreed is the largest utility infrastructure business offering coo
Slide 12: Q&A
aliens 7 = ae tabreed Q&A 12
Slide 13: 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 13
Slide 14: Appendix
UE 5 tabreed Appendix 14
Slide 15: Tabreed's Story
Tabreed’s Story …District Cooling (DC) is 50% more Overall cooling represents 70% of the …DC comes at ~16% lower life cycle energy efficient than Conventional GCC’s energy peak consumption… cost than CC Cooling (CC)… 100% 84% -16% -50% Paid 63% Upfront 49 39 Capex KWh/RTh 7% Charged 17% 51 45 Variab
Slide 16: Company Overview
Company Overview World’s Largest • 60 district cooling plants across the UAE and an additional 6 district cooling plants across the GCC District Cooling • Total connected capacity of 856,000 RT Company • Over 23,000 shareholders including Mubadala, ACWA and the Retirement fund Operational • Provides
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