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 2012 Earnings Presentation
20 slides from National Central Cooling Co. (p.s.c.) (tabreed)'s earnings presentation, Oct 31, 2012
Slide 1: Q3 2012 Results Presentation
National Central Cooling Company PJSC Tabreed 31 October 2012 Q3 2012 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 31 October 2012. By attending the m
Slide 3: Agenda
Agenda • Introduction • Business Overview • Operational Review • Financial Review • Summary • Q&A 3
Slide 4: Jasim Thabet
Jasim Thabet • Jasim Thabet was appointed as Tabreed’s Chief Executive Officer in August 2012 • Significant experience in the regional infrastructure and utilities industries, including the district cooling sector • Prior to joining Tabreed, Jasim was Vice- President in Mubadala Development Company’
Slide 5: Overview
Overview District cooling is an essential utility Tabreed’s Competitive Advantage service in the region It has a number of benefits over traditional air conditioning: • Lower life cycle costs • Lower operating costs • Property owner benefits • Energy reduction for governments • Environmentally frien
Slide 6: Operational Review
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Slide 7: Operational Achievements
Operational Achievements 65 64 55 38 Number of Plants Group • Installed Capacity remains unchanged this quarter at 767,125 RT across 65 plants • Connected Capacity for the Group increased to 745,025 RT and is now 97% of Installed Capacity UAE • UAE Installed Capacity 605,325 RT * (gross) across 59 p
Slide 8: Long-term, Stable, Customer Base
Long-term, Stable, Customer Base 46% 587,075 48% 555,181 39% 477,066 42% 339,572 44% 274,201 Percentage of Government customers • The graph shows the split in the UAE Connected Capacity between our government and non government customers • At the end of September 2012, 46% of our Capacity has been c
Slide 9: Q3 2012 Results Summary
Q3 2012 Results Summary Financial Highlights Strong Q3 2012 results continue to demonstrate strength of our underlying business • Q3 2012 Revenue up 5% to AED 326.4m (Q3 2011: AED 309.8m) • Q3 2012 Operating Profit up by 19% to AED 104.4m (Q3 2011: AED 87.4m) • Q3 2012 Net Profit attributable to Par
Slide 10: Financial & Operational Metrics
Financial & Operational Metrics Key Metrics - UAE Q3 2012 Q3 2011 % Change Comment FY 2011 Number of Plants 59 60 -2% 2 small plants closed (total of 400 RT) 58 One new plant in Q1 2012 Installed Capacity (RT) 605,325 587,725 3% Increase of 18,000 RT in 2012 587,325 Connected Capacity (RT) 587,075 5
Slide 11: Financial Review
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Slide 12: Chilled Water
Chilled Water Contribution to Revenue 93% (Q3 2011: 92%) Key Metrics Q3 Q3 % (AED m) 2012 2011 Change Revenues 302.7 285.9 6% Operating Costs (172.8) (172.1) - Revenue (AED m) Gross Profit 129.9 113.8 14% Profit from Operations 100.4 82.1 22% Operating Profit Margin 33% 29% EBITDA Margin 44% 39% • R
Slide 13: Value Chain Businesses
Value Chain Businesses Contribution to Revenue 7% (Q3 2011: 8%) Key Metrics Q3 Q3 % (AED m) 2012 2011 Change Revenues 23.6 23.8 -1% Operating costs (13.8) (11.9) 1% Revenue (AED m) Gross Profit 9.8 11.9 -18% Profit from Operations 4.0 5.3 -24% Operating Profit Margin 17% 22% EBITDA Margin 20% 29% •
Slide 14: Q3 2012 Financial Highlights
Q3 2012 Financial Highlights • Revenues increased by 5% driven by Chilled Water Key Figures – Unaudited Consolidated Financials 3 months • Costs are consistent with the same quarter last year ended 30 September due to continued cost control, efficiencies and % All figures in AED m 2012 2011 change e
Slide 15: YTD 2012 Financial Highlights
YTD 2012 Financial Highlights • Whilst the core Chilled Water Revenue increased 5%, Key Figures – Unaudited Consolidated Financials total revenue remains unchanged 9 months • Operating Costs are down 5% mainly due to the ended 30 September contraction of the Value Chain Businesses % All figures in A
Slide 16: Summary
Summary 16
Slide 17: Summary
Summary Financial and Operational Successes Q3 2012 • Robust Q3 2012 results – Q3 2012 Revenue up 5% to AED 326.4m (Q3 2011: AED 309.8m) – Q3 2012 Operating Profit up 19% to AED 104.4m (Q3 2011: AED 87.4m) – Q3 2012 Net Profit attributable to Parent up by 35% to AED 73.0m (Q3 2011: AED 54.1m) • Stro
Slide 18: Looking Forward
Looking Forward • Tabreed is well positioned to capitalize on growth opportunities by meeting demand for cooling infrastructure in the region • GCC economies continue to grow and district cooling is a vital component of economic growth • Our fundamental business model is strong: – Many of our contra
Slide 19: Q&A
Q&A 19
Slide 20: 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 20
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