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 2013 Earnings Presentation
14 slides from National Central Cooling Co. (p.s.c.) (tabreed)'s earnings presentation, Apr 30, 2013
Slide 1: Q1 2013 Results Presentation
National Central Cooling Company PJSC Tabreed Q1 2013 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 30 April 2013. By attending the mee
Slide 3: Agenda
Agenda • Overview • Headline Performance • Operational and Financial Highlights • Chilled Water Performance • Dividends • Outlook 3
Slide 4: Tabreed's Story
Tabreed’s Story …District Cooling (DC) is 50% more Overall cooling represents 70% of Abu …DC comes at ~16% lower life cycle energy efficient than Conventional Dhabi’s energy peak consumption… cost than CC Cooling (CC)… 100% 84% -16% 63% -50% Paid 49 Upfront 39 Capex KWh/RTh 7% Charged 51 45 Variable
Slide 5: Headline Performance
Headline Performance Strong focus on • Group Revenue at AED 219m in line with Q1 2012 • Core Chilled Water Revenue up 5% to AED 203m Core Business • Core business represents 93% of revenue (2010: 70%) Strong operating • 3% increase in Profit from Operations since Q1 2012 • 22% increase in Profit fro
Slide 6: Operational Highlights
Operational Highlights Number of Plants Capacity Group Revenue (AED m) Group EBITDA Margin The company continues to benefit from the earlier growth to achieve stability 6
Slide 7: Financial Highlights–Income Statement
Financial Highlights–Income Statement Unaudited Consolidated Financials (AED m) Q1 2013 Q1 2012 Chilled Water revenue has increased Revenues 218.6 219.0 5% as a result of the continued focus on the core business Chilled Water (93% of revenue) 202.7 193.2 Value Chain Businesses (7% of revenue) 15.9 2
Slide 8: Financial Highlights–Balance Sheet
Financial Highlights–Balance Sheet Unaudited Consolidated Financials (AED m) Q1 2013 Q1 2012 Increase in PPE as the build out Property, Plant & Equipment 6,748.9 6,809.4 programme comes to an end, offset by depreciation Associates and Joint Ventures 471.1 410.2 Accounts Receivable & Prepayments 524.
Slide 9: Chilled Water Performance
Chilled Water Performance Capacity (kRT) Revenue (AED m) Unaudited Consolidated Profit from Operations (AED m) Financials (AED m) Q1 2013 Q1 2012 Variance Revenues 202.7 193.2 5% Operating Costs (96.8) (87.9) 10% Gross Profit 105.9 105.3 1% Gross Profit Margin 52% 54% Profit from Operations 74.3 73.
Slide 10: Chilled Water – GCC Presence
Chilled Water – GCC Presence Total Capacity (kRT) Capacity by Region (kRT) Chilled Water Ownership (AED m) UAE Bahrain Qatar Other Total Revenues 198.2 3.6 - 0.9 202.7 Operating Costs (91.8) (4.6) - (0.4) (96.8) Gross Profit 106.4 (1.0) - 0.5 105.9 Gross Profit 54% -27% - 53% 52% Margin Profit from
Slide 11: Dividends
Dividends 2013 Dividend Update Dividend History A dividend of 5 What? fils per share Mandatory Common Convertible Who? shareholders Bonds Holder (Mubadala) How? Cash Additional shares Equivalent non- Cash paid 30 days coupon bearing Terms? after AGA approval MCB convertible by 2019 11
Slide 12: Outlook
Outlook In Abu Dhabi, District Cooling has the potential to grow 10-fold over the next 20 years Prospective Cooling Market1 (in kRT) ~3x 2,345 Conventional Cooling ~10x District Cooling 2 2010 2015 2020 2025 2030 District Cooling Penetration 10% 16% 25% 31% 35% The District Cooling market has an eno
Slide 13: Q&A
flee Q&A 13
Slide 14: Contact Details
Contact Details For further information please contact Salam Kitmitto Communications Director skitmitto@tabreed.com +971 2 645 5007 ext. 692 Suzanne Holt Snr. Corporate Finance and Investor Relations Manager sholt@tabreed.com +971 2 645 5007 ext. 424 14
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