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 2022 Earnings Presentation
18 slides from National Central Cooling Co. (p.s.c.) (tabreed)'s earnings presentation, May 12, 2022
Slide 1: Q1 2022 Earnings Presentation
National Central Cooling Company PJSC (DFM: TABREED) Q1 2022 Earnings Presentation 12 May 2022
Slide 2: Disclaimer
Disclaimer • These materials have been prepared by and are the sole responsibility of the National Central • No person is authorized to give any information or to make any representation not contained in and Cooling Company PJSC, ‘Tabreed’ (the “Company”). These materials have been prepared solely f
Slide 3: Agenda
Agenda 1 Business Updates and Performance Highlights 4 2 Financial Results 10 3 Conclusion 15 | 3
Slide 4: Business Updates and Performance Highlights
01 Business Updates and Performance Highlights
Slide 5: Q1 2022 Highlights
Business Updates and Performance Highlights Q1 2022 Highlights Financial Highlights: 3M 2022 vs. 3M 2021 AED 420m AED 406m AED 264m AED 88m +17.4% +19.6% +16.2% +3.1% Total Revenue Chilled Water Revenue EBITDA Net Income Performance Highlights and Other Developments • Total Revenue increased by 17.4
Slide 6: Tabreed at a Glance
Business Updates and Performance Highlights Tabreed at a Glance One of the world’s largest district cooling companies 86 Environmentally responsible operations reducing green house gas emissions* plants in 4 countries 2.31 billion kWh 1.38 million tons reduction in energy consumption in the eliminat
Slide 7: Connected Capacity (kRT)
Business Updates and Performance Highlights Connected Capacity (kRT) Consolidated Q1 2021 Q2 2021 Q3 2021 Q4 2021 Q1 2022 UAE 928 940 954 1,025 1,033 Bahrain 32 33 33 33 34 Oman 33 33 33 33 51 Total Consolidated 993 1,006 1,019 1,091 1,118 Equity Accounted UAE** 71 71 74 9 9 KSA 110 110 110 110 110
Slide 8: Recap of Recent Corporate Developments
Business Updates and Performance Highlights Recap of Recent Corporate Developments Past acquisitions have created strong platform for future; recent entry into Egyptian market and tie- up for expansion in India to further drive growth going forward • Strategic partnership with the IFC to facilitate
Slide 9: Headline Performance
Business Updates and Performance Highlights Headline Performance UAE Other 1 Long-term • Providing over 1.24m RT of cooling across GCC – grown at 10% CAGR since 2019 Group Connected Capacity (kRT) 1,128 1,175 1,236 contracts with • Long term contracts (~25 years) mean approx. 85% of contracted capac
Slide 10: Financial Results
02 Financial Results Otabreed
Slide 11: Income Statement
Financial Results Income Statement Consolidated Financials (AED m) Q1 2022 Q1 2021 Variance % Key Observations Revenue 419.9 357.6 62.4 17% Chilled water revenue (97%) 405.7 339.1 66.6 20% • Overall, an increase in revenue, operating costs and Administrative and other expenses mainly Value chain bus
Slide 12: Financial Position
Financial Results Financial Position Consolidated Financials (AED m) 31 Mar 2022 31 Dec 2021* Variance % Key Observations Fixed Assets 8,188.8 8,237.0 (48.2) (1)% Intangibles 4,257.3 4,284.5 (27.2) (1)% • Decrease in trade receivables mainly represent better customer collections and catchup of last
Slide 13: Cash Flow Statement
Financial Results Cash Flow Statement Consolidated Financials (AED m) Q1 2022 Q1 2021 Variance % Key Observations Profit from Operations 153.7 134.6 19.1 14% • Cash flow from operations stronger than last Finance lease amortization 27.6 29.4 (1.9) (6)% year which mainly represents higher collections
Slide 14: Debt Portfolio and Return Ratios
Financial Results Debt Portfolio and Return Ratios Investment grade status affirmed by both Fitch and Moody’s 1 Net Debt* Profile (AED m) 2 Debt Maturity Profile 6,165 5,870 653 * * 644 5,378 5,512 5,227 2,914 Dec-19 Dec-20 Dec-21 Mar-22 2022 2023 2024 2025 2026 - 31 *On account of consolidation of
Slide 15: Conclusion
03 Conclusion Otabreed
Slide 16: Environmental Impact
Conclusion Environmental Impact Tabreed has set its own targets to support energy consumption reduction and emission prevention, through innovative technology solutions and environmentally-friendly practices. Pioneered various innovations Demonstrated environmental impact (LTM Q1 2022) Utilization o
Slide 17: Partner of choice across GCC for environmentally friendly cooling solutions
Conclusion Partner of choice across GCC for providing environmentally friendly cooling solutions Resilient Business Model Capacity Growth Strong Cash Flow • Tabreed provides an essential utility service Visibility • Our recent Green Financing Framework confirms the sustainable nature of our core bus
Slide 18: Contact Us
Contact Us Bijay Sharma Churchgate Partners Email: Tabreed@churchgatepartners.com Salik Malik Riyad Hammad Acting Vice President, Finance Head of Treasury and IR Tel: +971 2 2020397 Tel: +971 2 2020367 Email: smalik@tabreed.ae Email: rhammad@tabreed.ae
National Central Cooling Company PJSC (Tabreed) — Q1 2022 Earnings Presentation on 6ix