Ctf Services Limited · HKEX:659
Ctf Services — NWS Holdings — FY2008 Earnings Presentation
32 slides from Ctf Services's earnings presentation, Oct 8, 2008
Slide 1: NWS Holdings cover
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Slide 2: New World Group Structure
New World Group Structure 新世界發展有限公司 New World Development Company Limited (香港股份代號 : 17) (HK stock code: 17) 70% 57% 72% 新世界中國地產有限公司 新創建集團有限公司 新創建集團有限公司 新世界百貨中國有限公司 New World China Land New World Department Limited NWS Holdings Store China Limited (香港股份代號: 917) Limited (香港股份代號 :825) (HK stock code: 9
Slide 3: NWS Corporate Structure
NWS Corporate Structure Infrastructure Service & Rental 基建 服務及租務 Roads Facilities Rental 道路 設施租務 Energy Contracting 能源 建築機電 Water Financial Services 水務 金融服務 Ports Other Services 港口 其他服務 2
Slide 4: Financial Highlights
——— aT el 32 NWS Financial Highlights
Slide 5: Consolidated Financial Highlights
Consolidated Financial Highlights For the year ended 2008 2007 Change 30 June (HK$’m) (HK$’m) + / (-)% Revenue 18,889.5 15,047.1 26 AOP 2,723.1 2,291.1 19 Share of Profit from 1,632.6 – N/A Harbour Place Profit attributable to 3,818.3 2,005.4 90 shareholders Earnings per share HK$1.89 HK$1.01 87 Div
Slide 6: Strong Financial Position
Strong Financial Position Total cash on hand and bank balances: HK$4,124 million Net debt: HK$4,667 million Net gearing ratio: 21% (As at 30 June 2008) 5
Slide 7: AOP Mix (for the year ended 30 June)
AOP Mix (for the year ended 30 June) (HK$'m) By Division (HK$'m) By Region 3000 3000 2,723 2,723 2,291 2500 2,291 2500 1,265 1,391 2000 2000 1,003 (47%) 1,141 (51%) (44%) 1500 (50%) 1500 1000 1000 1,332 1,288 1,458 1,150 (53%) 500 (49%) 500 (56%) (50%) 0 0 2007 2008 2007 2008 Service & Rental Hong K
Slide 8: AOP by Segment
AOP by Segment For the year ended 30 2008 2007 Change % June (HK$’m) (HK$’m) Fav./(Unfav.) Infrastructure Roads 744.7 566.4 31 Energy 383.5 402.8 (5) Water 107.9 102.2 6 Ports 96.3 79.0 22 Sub-total: 1,332.4 1,150.4 16 Service & Rental Facilities Rental 452.9 404.2 12 Contracting 347.8 255.9 36 Fina
Slide 9: AOP - Contribution by Segment
AOP - Contribution by Segment For the year ended 2008 % of total 30 June (HK$’m) AOP Roads 744.7 27.3 Facilities Rental 452.9 16.6 Energy 383.5 14.1 Contracting 347.8 12.8 Financial Services 335.1 12.3 Other Services 254.9 9.4 Water 107.9 4.0 Ports 96.3 3.5 TOTAL 2,723.1 100 8
Slide 10: We Develop With Sincerity
WE DEVELOP WITH SINCERITY NWS Holdings recognizes the importance of sustainability and therefore puts eco-friendliness into its business practices. We not only value financial returns, but also target to achieve all the possible green endeavours. Striving to build a better environment, we develop ou
Slide 11: Infrastructure
21 road and bridge projects Infrastructure in Guangdong, Guangxi, Shanxi, Tianjin and Wuhan; and one tunnel project in Roads Hong Kong 5 power plants in Mainland China and Macau and one fuel company in Energy Guangzhou 21 water treatment projects in Mainland China and Macau, one incineration plant i
Slide 12: AOP - Infrastructure
AOP - Infrastructure For the year ended 2008 2007 Change % 30 June (HK$’m) (HK$’m) Fav./(Unfav.) Roads 744.7 566.4 31 Energy 383.5 402.8 (5) Water 107.9 102.2 6 Ports 96.3 79.0 22 TOTAL 1,332.4 1,150.4 16 11
Slide 13: Roads: Average Daily Traffic
Roads AOP up 31%: Pearl River Delta projects performed remarkably 200 +2.9% Average Daily Traffic ('000 Vheicles) 159.6 164.2 160 +20.4% 120 100.7 83.6 FY2007 80 +15.8% FY2008 34.7 40.2 40 0 Guangzhou City Beijing-Zhuhai Shenzhen-Huizhou Northern Ring Road Expressway Roadway and (Guangzhou-Zhuhai Ex
Slide 14: Pearl River Delta Expressway Network
珠江三角洲高速公路網 Pearl River Delta Expressway Network 13
Slide 15: Roads: New Investments
Roads New Investments Share- Total Project name Status Operational data holding investment Guangzhou City 22.5% Approx. Operational Approx. 72.4km Nansha Port RMB7.8 in 2005 long; Dual 3-lane Expressway billion and 4-lane 廣州市南沙港快速路 expressways Conghua-Dongguan 15% Approx. Operational Approx. 32km lo
Slide 16: Energy
Energy Profit level stayed firm despite soaring coal prices Zhujiang Power Plants (珠江電廠) continued to produce solid cash flow and profits Mainland China tariff increased by approx. 10% in total in July and August 2008 Macau Power (澳門電力) sales volume surged by 23% Acquired 35% interest in Guangzhou F
Slide 17: Water
Water AOP increased by 6% Macao Water (澳門水廠) sales volumes up 7% Tanggu Water Plant (塘沽水廠) in Tianjin and Chongqing Water Plant (重慶水廠) sales volume up 8% and 10% respectively Acquired 15% interest jointly with Suez Environnement in Chongqing Water Group Chongqing Water Group Overview No. of plants D
Slide 18: Ports
Ports AOP up 22% Xiamen New World Xiangyu Terminals (廈門象嶼 新創建碼頭) increased 4% in average tariff Tianjin Five Continents International Container Terminal (天津五洲國際集裝箱碼頭) throughput remained stable and handled 1,991,000 TEUs Wenzhou Zhuangyuan Ao New World International Terminals (溫州狀元嶴新創建國際碼 頭) will co
Slide 19: Ports: New Investment, Xiamen Haicang Terminal
Ports New Investment 廈門海滄碼頭) 廈門海滄碼頭 Xiamen Haicang Terminal (40%) (廈門海滄碼頭 Shareholding: NWS 40%, CMA 30%, Xiamen Haicang Investment 30% Total investment approx. RMB2.16 billion Throughput 1 million TEUs Quay length 754m Operational 2nd half 2009 18
Slide 20: Reputable customer care
Reputable customer care is one of the core values of NWS Holdings, We are committed to the responsible use of resources and monitoring their impact on the environment. We pledge to reach higher standard in different aspects of our businesses in an attempt to provide a hassle-free environment for our
Slide 21: AOP – Service & Rental
AOP – Service & Rental For the year ended 2008 2007 Change % 30 June (HK$’m) (HK$’m) Fav./(Unfav.) Facilities Rental 452.9 404.2 12 Contracting 347.8 255.9 36 Financial Services 335.1 141.6 137 Other Services 254.9 339.0 (25) TOTAL 1,390.7 1,140.7 22 20
Slide 22: Facilities Rental
Facilities Rental AOP up 12% Both HKCEC and ATL achieved solid results with strong recurring cash flow HKCEC – Atrium Link expansion is expected to complete in mid 2009 – Increased by 19,400 sq m which will add up to a total of 83,400 sq m exhibition space ATL continued to enjoy high occupancy (98%)
Slide 23: Facilities Rental: China Rail Container Terminals Project
Facilities Rental China Rail Container Terminals Project 18 pivotal rail container terminals in 18 major cities in Mainland China scheduled to be operational in phases by 2010 Kunming (昆明) terminal commenced operation with target throughput 150,000 TEUs in 2008 Construction work started at Chongqing
Slide 24: Contracting
Contracting AOP up 36% Gross contract-on-hand: HK$34.3 billion* Remaining value: HK$17.1 billion* The 50/50 Hip Hing / Gammon JV won the HK$4.94 billion HK Government headquarters contract Target completion: mid 2011 (*As at 30 June 2008) 23
Slide 25: Financial Services
Financial Services Financial Services profit up 137% to HK$335.1 million Taifook Securities reported net profit of HK$104 million for its interim period ended 30 June 2008 Solid contribution from Tricor Holdings’ share registration, company secretary and financial businesses 24
Slide 26: Other Services
Other Services Transport AOP decreased by 68% due to high fuel costs NWFB and Citybus non-airport routes had a 5% & 2% fare rise respectively in June 2008 Local ferry posted a loss Macau ferry average daily passenger volume increased by 19% to 12,100 25
Slide 27: Harbour Place Project
Harbour Place Project 2,470 residential units in total Sold 1,472 units at average selling price of approx. HK$7,000 per sq ft in FY08 Share of profit HK$1,632.6 million Remaining 998 units to be sold 26
Slide 28: A Positive Outlook
A Positive Outlook Promising outlook on NWS businesses – Maturity of Infrastructure projects • Defensive in nature with healthy growth – New Service & Rental projects commence operation • HKCEC Atrium Link Expansion • Lo Wu duty free business • New construction projects in Hong Kong • China Rail Con
Slide 29: A Positive Outlook (cont'd)
A Positive Outlook (cont’d) Strong cash flow from recurring businesses A healthy balance sheet and prudent cash and treasury management Well established dividend payout policy Remain focused in seeking quality assets with potential 28
Slide 30: Achievements
Achievements • Corporate Governance Asia Recognition Awards 2008 • Hong Kong Award for Corporate Governance Excellence • Enterprise Governance – Best Practice Awards 2007 • 18th International Astrid Awards – Gold Award (Photography) • 18th International Questar Awards – Gold Award (Corporations: Int
Slide 31: Responsible Corporate Citizen
Responsible Corporate Citizen 30
Slide 32: Ss z w i Ey
0 Ss z w i Ey