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 2018 Earnings Presentation
16 slides from National Central Cooling Co. (p.s.c.) (tabreed)'s earnings presentation, Aug 2, 2018
Slide 1: H1 2018 Earnings Presentation
National Central Cooling Company PJSC (DFM:TABREED) H1 2018 Earnings Presentation 2 August 2018
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
Performance Highlights Financial Highlights: H1 2018 vs. H1 2017 Total Revenue Chilled Water EBITDA Net Income AED 651m AED 617m AED 326m AED 212m +1.8% +2.5% +5.9% +10.0% Operational Highlights and Developments • Chilled Water revenue growth at 2.5%; Chilled Water EBITDA up 6.3% Performance Highlig
Slide 6: Regional Presence
Regional Presence The only publicly listed district cooling company in the world National Central Cooling Company and its UAE investments • 5 GCC countries | 72 plants | Over 1.1m tons of cooling • 60 consolidated plants, 3 held through associates and joint ventures • Plants in 6 emirates of the UAE
Slide 7: Connected Capacity
Connected Capacity • Previously announced capacity guidance of 65,000 RT to be added in 2018 and 2019 • Key additions during Q2 2018 include West Bay I (15,005 RT) and Jabal Omar (4,146 RT) under equity accounted entities • 32,800 RT of S&T’s capacity recorded as consolidated capacity from Q1 2018 C
Slide 8: H1 2018 Headline Performance
H1 2018 Headline Performance UAE Other • Providing over 1.1m RT of cooling across GCC – growing 5% Long-term annually since 2015 Group Connected 1,084 1,114 Capacity (kRT) contracts with • Long term contracts (~25 years) mean over 90% of 953 980 286 315 341 263 credit worthy contracted capacity lock
Slide 9: 2. Financial Results
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Slide 10: H1 2018 Income Statement
H1 2018 Income Statement Consolidated Financials (AED m) H1 2018 H1 2017 Variance % Revenue 651 639 11 1.8% Chilled water revenue (95%) 617 602 15 2.5% Value chain businesses (5%) 33 37 (4) -9.6% Operating cost (329) (327) (3) 0.8% Gross Profit 321 313 9 2.8% Gross profit margin 49% 49% Administrati
Slide 11: H1 2018 Financial Position
H1 2018 Financial Position Consolidated Financials (AED m) June 30, 2018 Dec 31, 2017 Variance % Fixed Assets 7,132 6,874 258 3.7% Associates and Joint Ventures 563 826 (263) -31.9% Accounts Receivable 623 517 106 20.5% Cash and Short Term Deposits 357 418 (61) -14.5% Other Assets 59 60 (1) -2.8% To
Slide 12: H1 2018 Cash Flow Statement
H1 2018 Cash Flow Statement Consolidated Financials (AED m) H1 2018 H1 2017 Variance % Profit from Operations 219 211 8 3.5% Finance lease amortization 33 28 5 18.5% Depreciation 74 69 5 7.9% Working Capital and Other adjustments (45) (25) (20) 77.7% Net cash flows from Operating Activities 281 283
Slide 13: Debt Portfolio
Debt Portfolio Net Debt Profile (AED m) • Conservative leverage profile with current gearing of 3,220 3,110 2,974 42% (debt to debt + equity) • 95% of debt is denominated in AED, with the balance 2,158 in USD and OMR, in line with cash flow generation profile • Target hedging range of 50-75% − Curre
Slide 14: 3. Conclusion
fl tabreed Sustainable Cooling 3. Conclusion)
Slide 15: 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 16: Contact Us
Contact Us Saket Somani Churchgate Partners Tel: +971 4 3132432 Email: Tabreed@churchgatepartners.com Richard Rose Rachel Emmett VP – Finance Sr. Manager – Treasury & IR Tel: +971 2 2020400 Tel: +971 2 2020433 Email: IR@tabreed.ae Email: remmett@tabreed.ae Management looks forward to engaging with s
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