Kuwait Projects Company Holding (K.S.C.P.) · KSE:KPROJ

Kuwait Projects Company Holding (K.S.C.P.) — Kuwait Projects Company (Holding) (KIPCO) — Investor Presentation (March 2011)

13 slides from Kuwait Projects Company Holding (K.S.C.P.)'s investor presentation, March 2011

  1. Slide 1: A Year of Intensity

    A Year of Intensity Investor Presentation March 2011 1

  2. Slide 2: Disclaimer

    Disclaimer This presentation is not an offer or invitation to subscribe to or purchase any securities. No warranty is given as to the accuracy or completeness of the information in this presentation. You must make your own independent investigation and appraisal of the business and financial conditi

  3. Slide 3: Agenda

    Agenda 2010: Year in Review 2011: Opportunities 3

  4. Slide 4: Delivered profitability

    Delivered profitability (KD million) 2% 4% 22%* 22%* 3% 2010 408 151 45 40 560 2009 399 145 37 33 544 (Restated)* Operating Basic EPS Book Value Revenue^ Net Profit Profit ** (Fils/share) (Equity) Solid performance in difficult times  Reflects KIPCO’s long-term investment strategy, financial discip

  5. Slide 5: Delivered on promises

    Delivered on promises  2010 was KIPCO’s 19th consecutive year of profitability  All listed core companies were profitable Profitability  Strengthened market share:  GIC in KSA, Jordan, Egypt and Bahrain  OSN closed the platform  Equity issue by Burgan, UREC & UIC Liquidity &  10 year bond iss

  6. Slide 6: Created value for shareholders

    Created value for shareholders Dividends Paid Price to Book Fils 4% 10% 10% 8% 5% Fils 90 499 50 405 40 25 25 2006 2007 2008 2009 2010 Dividend/ share* Dividend Yield^ (%) Book Value per share Market price KIPCO Share Price vs. market 550 Price to book 450 Fils KSE 1.4x 350 KIPCO 0.8x 250 Mar-10 Jun

  7. Slide 7: Core Companies: Satisfactory performance

    Core Companies: Satisfactory performance Burgan Bank United Gulf Bank KD million KD million 165 155 30 157% 26 89 76 19 11 8 83 72 5 6 5 11 6 Operating Income* Net Profit Investment Income Net Profit 2009 2010 Coverage of NPL (net of collateral) 2009 2010 GIC OSN KD million KD million 120 78 97 7 8

  8. Slide 8: Extended debt maturity; maintained liquidity

    Extended debt maturity; maintained liquidity Debt Type: As on Dec 31, 2010 Debt Maturity: As on Dec 31, 2010 Total Debt: KD528 million 2-4 years 11% Term Loan 1-2 years 31.3% 3% > 4 years 52% MTN 68.7% < 1 year 34% Enhanced Debt Maturity Profile Placements 5.9 yrs  Year end cash balance of KD285 mi

  9. Slide 9: Agenda

    Agenda 2010: Year in Review 2011: Opportunities 9

  10. Slide 10: 2011 so far: Limited impact of political crisis

    2011 so far: Limited impact of political crisis  Bahrain  90% of UGB assets are outside Bahrain, primarily in the region  Egypt  Negligible insurance claims  All companies are operating  Tunisia, Syria, Algeria and Jordan  All companies are operating - negligible impact  Libya  No exposure

  11. Slide 11: 2011: KIPCO core companies outlook

    2011: KIPCO core companies outlook  Return to pre-crisis level of profitability Burgan Bank  Expand regional franchise through organic and inorganic means  Monetize Kuwait development plan  Divest non-core assets and deleverage United Gulf  Diversify/lengthen funding base/maturity Bank  Expans

  12. Slide 12: 2011: KIPCO outlook

    2011: KIPCO outlook Key assumptions:  Improving economic environment in Kuwait  Implementation of Phase I of Kuwait Development Plan  Political uncertainty in MENA is reduced  Minimum potential domino effect on Kuwait Outlook:  Operating fundamentals remain strong  Continue to enhance book val

  13. Slide 13: Thank You

    THANK YOU (© | KIPCO 13 Kuwait Proj jects Company (Holding)

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