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 2019 Earnings Presentation
17 slides from National Central Cooling Co. (p.s.c.) (tabreed)'s earnings presentation, Nov 3, 2019
Slide 1: National Central Cooling Company PJSC Q3 FY2019 Earnings Presentation
National Central Cooling Company PJSC (DFM:TABREED) Q3 FY2019 Earnings Presentation 3 November 2019
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: 9M 2019 vs. 9M 2018 AED 1,128m AED 1,073m AED 563m AED 329m +3.5% +3.8% +11.2% +3.1% Total Revenue Chilled Water Revenue EBITDA Net Income Performance Highlights • Total Revenue growth at 3.5% and Chilled Water revenue at 3.8% • EBITDA increased by 11.2%
Slide 6: Tabreed at a Glance
Tabreed at a Glance One of the world’s largest district cooling companies Equivalent to cooling 75 plants in 1.16m RT 116 5 countries delivered to clients towers the size of Burj Khalifa Environmentally responsible operations reducing green house gas emissions 1.97 billion kWh 986,000 tons annual re
Slide 7: Regional Presence
Regional Presence The only publicly listed and regional district cooling company in the world National Central Cooling Company and its UAE investments • 5 GCC countries | 75 plants | 1.16m tons of cooling • 55 consolidated plants, 8 held through associates and joint ventures • Plants in 6 emirates o
Slide 8: Connected Capacity
Connected Capacity • Previously announced capacity guidance of 65,000 RT to be added in 2019 and 2020 • Added 15,380 RT during Q3 2019 of which 15,000 RT was in Saudi Arabia taking YTD additions to 29,848 RT Consolidated Q3 2018 Q4 2018 Q1 2019 Q2 2019 Q3 2019 UAE 702 702 705 708 708 Bahrain 26 27 2
Slide 9: Headline Performance
Headline Performance UAE Other • Providing over 1.16m RT of cooling across GCC – growing 5% Long-term annually since 2016 Group Connected 1,122 1,161 Capacity (kRT) 1,087 contracts with • Long term contracts (~25 years) mean over 90% of 1,011 348 381 287 316 credit worthy contracted capacity locked
Slide 10: 2. Financial Results
fl tabreed Sustainable Cooling 2. Financial Rest
Slide 11: Income Statement
Income Statement Consolidated Financials (AED m) 9M 2019 9M 2018 Variance % Revenue 1,128 1,090 38 3% Chilled water revenue (95%) 1,073 1,034 39 4% Value chain businesses (5%) 55 56 (1) -3% Operating cost (580) (597) 16 -3% Gross Profit 548 494 54 11% Gross profit margin 49% 45% Administrative and o
Slide 12: Financial Position
Financial Position Consolidated Financials (AED m) Sep 30, 2019 Dec 31, 2018 Variance % Fixed Assets 7,265 7,026 239 3% Associates and Joint Ventures 591 579 11 2% Accounts Receivable 667 568 99 17% Cash and Short Term Deposits 314 249 65 26% Other Assets 65 61 3 6% Total Assets 8,902 8,484 417 5% E
Slide 13: Cash Flow Statement
Cash Flow Statement Consolidated Financials (AED m) 9M 2019 9M 2018 Variance % Profit from Operations 390 345 45 13% Finance lease amortization 45 50 (5) -10% Depreciation 127 111 17 15% Working Capital and other adjustments 12 26 (14) -55% Net cash flows from Operating Activities 574 532 42 8% Capi
Slide 14: Debt Portfolio and Return Ratios
Debt Portfolio and Return Ratios • Current gearing of 40% (vs. 39% in Dec 2018 and 40% in Sep 2018); Increase in debt in 9M 2019 due to implementation of IFRS 16 • No significant debt repayments until the Sukuk matures in 2025 • Strong improvement in Net Debt to EBITDA ratio as EBITDA continues to g
Slide 15: 3. Conclusion
fl tabreed Sustainable Cooling 3. Conclusion
Slide 16: 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 17: Contact Us
Contact Us Saket Somani Churchgate Partners Tel: +971 4 3132432 Email: Tabreed@churchgatepartners.com Richard Rose Salik Malik Vice President, Finance Head, Financial Planning & Analysis Tel: +971 2 2020400 Tel: +971 2 2020397 Email: IR@tabreed.ae Email: smalik@tabreed.ae NATIONAL CENTRAL COOLING CO
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