National Central Cooling Co. (p.s.c.) (tabreed) · DFM:TABREED
National Central Cooling Co. (p.s.c.) (tabreed) — National Central Cooling Company PJSC (Tabreed) — Q3 2014 Earnings Presentation
18 slides from National Central Cooling Co. (p.s.c.) (tabreed)'s earnings presentation, Oct 23, 2014
Slide 1: Q3 2014 Results Presentation
National Central Cooling Company PJSC 23 Oct 2014 Q3 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 23 October 2014. By attending the m
Slide 3: Agenda
Agenda • Our Story • Business Model • Recent News • Headline Performance • Operational and Financial Highlights • Chilled Water Performance • Summary 3
Slide 4: Our Story
Our Story One of World’s Largest District Cooling Company Iconic Projects 67 Plants in the GCC …delivering 939,000 RT …equivalent to cooling 250,000 RT growth in 94 Burj Khalifa towers connections since 2011 ..of cooling to our clients High Contributor to the Environment Energy Efficiency Eliminatio
Slide 5: Business Model – Core Business
Business Model – Core Business Chilled Water - UAE Profit and Loss Account Revenue AED m Consumption Capacity Total 32% 68% Revenue 32.4 67.6 100.0 Chilled Water – Utility Costs (29.2) - (29.2) Capacity Consumption UAE Profit and Loss Account Fixed Costs - (7.6) (7.6) EBITDA Total Costs (29.2) (7.6)
Slide 6: Recent News
Recent News Tabreed Signs Agreement with Meraas Leisure and Entertainment – September 2014 • We signed a long term concession with Meraas Leisure and Entertainment to provide 45,600 tons of cooling to the new Dubai Parks and Resorts development in Jebel Ali. The district cooling infrastructure being
Slide 7: Q3 Headline Performance
Q3 Headline Performance VCB Revenue CW Revenue 329 344 • Chilled Water Revenue up 4% to AED 322m 310 326 23 Core Business 24 24 18 AED m • 5% increase in Group Revenue, up to AED 344m Growth 286 303 311 322 • Chilled Water business represents 93% of Group Revenue Q3 2011 Q3 2012 Q3 2013 Q3 2014 VCB
Slide 8: Operational Highlights
Operational Highlights Gross Capacity Group Revenue (AED m) Value Chain Business Chilled Water CAGR +11% 939 kRT +4% 829 kRT 23 24 18 745 kRT 24 689 kRT 303 311 322 286 Q3 2011 Q3 2012 Q3 2013 Q3 2014 Q3 2011 Q3 2012 Q3 2013 Q3 2014 Gross Profit (AED m) Group EBITDA (AED m) CAGR +7% +8% 153 140 144
Slide 9: Financial Highlights – Income Statement
Financial Highlights – Income Statement Unaudited Consolidated Financials (AED m) Q3 2014 Q3 2013 Revenue 344.4 329.2 5% increase in revenue Chilled Water (93% of revenue) 321.8 311.1 3% increase in Chilled Water revenue Value Chain Businesses (7% of revenue) 22.6 18.1 Operating Costs (190.9) (185.1
Slide 10: Financial Highlights – Balance Sheet
Financial Highlights – Balance Sheet Unaudited Consolidated Financials (AED m) Sep 2014 Dec 2013 Fixed Assets 6,651.2 6,633.0 17% increase, mainly as a result of Associates and Joint Ventures 615.9 524.5 investment in Al Maryah Island plant Increase in receivables due to process Accounts Receivable
Slide 11: Financial Highlights – Cashflow
Financial Highlights – Cashflow Unaudited Consolidated Financials (AED m) Q3 2014 Q3 2013 EBITDA for the period 151.8 139.1 9% year on year growth Finance Income relating to Finance Lease receivable (46.9) (30.4) Lease Rentals received 55.5 27.7 Increase in receivables due to Working Capital Adjustm
Slide 12: Q3 Chilled Water Performance
Q3 Chilled Water Performance Gross Capacity (kRT) Revenue (AED m) Other Group UAE CAGR +4% 311 322 CAGR +11% 303 286 240 194 149 124 635 699 565 597 Q3 2011 Q3 2012 Q3 2013 Q3 2014 Q3 2011 Q3 2012 Q3 2013 Q3 2014 Chilled Water UAE Qatar Saudi Other Total Profit from Operations (AED m) (AED m) quarte
Slide 13: 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 14: Q&A
files tabreed Q&A 14
Slide 15: Contact Details
Contact Details For further information please contact Salam Kitmitto Communications Director skitmitto@tabreed.ae +971 2 645 5007 ext. 692 Faisal Tahir Bhatti Senior Analyst – Strategic Finance Fbhatti@tabreed.ae +971 2 645 5007 ext. 483 15
Slide 16: Appendix
files tabreed Appendix 16
Slide 17: Financial Highlights – YTD Income Statement
Financial Highlights – YTD Income Statement Unaudited Consolidated Financials (AED m) Sep 2014 Sep 2013 Revenue 870.7 826.5 5% increase in revenue Chilled Water (92% of revenue) 804.9 775.9 4% increase in Chilled Water revenue Value Chain Businesses (8% of revenue) 65.8 50.6 Operating Costs (458.8)
Slide 18: Financial Highlights – YTD Cashflow
Financial Highlights – YTD Cashflow Unaudited Consolidated Financials (AED m) Sep 2014 Sep 2013 EBITDA for the period 411.7 379.7 Finance Income relating to Finance Lease receivable (124.7) (91.3) Lease Rentals received 149.1 94.5 Increase in receivables due to Working Capital Adjustments (139.5) 42
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