Ctf Services Limited · HKEX:659
Ctf Services — NWS Holdings — FY2010 Earnings Presentation
34 slides from Ctf Services's earnings presentation, Oct 5, 2010
Slide 1: Annual Results 2010
S-~ an all NWS ANNUAL RESULTS 2010 ~ Scaling New Heights — LOlarano Faia caringeompany 2hhRAR eae re
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% 58.9% 72.3% 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 cod
Slide 3: NWS Corporate Structure
NWS Corporate Structure Infrastructure Services 基建 服務 Roads Facilities 道路 Management 設施管理 Energy 能源 Contracting & Transport Water 建築機電及交通運輸 水務 Ports & Logistics Financial Services 港口及物流 金融服務 2
Slide 4: Financial Highlights
—— an all NWS Financial Highlights
Slide 5: Consolidated Financial Highlights
Consolidated Financial Highlights For the year ended 2010 2009 Change 30 June (HK$’m) (HK$’m) + / (-)% AOP 2,843.0 2,537.1 12 Profit attributable to 4,011.7 2,528.8 59 shareholders Earnings per share HK$1.92 HK$1.23 56 Dividend per share HK$0.95 HK$0.62 53 Net assets 26,452.1 24,259.4 9 4
Slide 6: Strong Financial Position
Strong Financial Position Total cash and bank balances: HK$5.2 billion Total debt: HK$4.9 billion Net cash position: HK$0.3 billion (As at 30 June 2010) 5
Slide 7: AOP Mix (for the year ended 30 June)
AOP Mix (for the year ended 30 June) By Division By Region (HK$'m) (HK$'m) 3000 2,843 3000 2,843 2,537 2,537 2500 2500 1,391 1,621 1,017 1,083 2000 (49%) 2000 (57%) (40%) (43%) 1500 1500 1000 1,452 1000 1,520 1,454 1,222 (51%) (60%) (57%) (43%) 500 500 0 0 2009 2010 2009 2010 Services Hong Kong Infr
Slide 8: AOP by Segment
AOP by Segment For the year ended 2010 2009 Change % 30 June (HK$’m) (HK$’m) Fav./(Unfav.) Infrastructure Roads 520.6 789.4 (34) Energy 420.0 245.0 71 Water 233.3 185.6 26 Ports & Logistics 278.0 300.1 (7) Sub-total: 1,451.9 1,520.1 (4) Services Facilities Management 825.1 612.1 35 Contracting & Tra
Slide 9: AOP - Contribution by Segment
AOP - Contribution by Segment For the year ended 2010 % of total 30 June (HK$’m) AOP Facilities Management 825.1 29 Roads 520.6 18 Energy 420.0 15 Contracting & Transport 410.1 14 Ports & Logistics 278.0 10 Water 233.3 8 Financial Services 155.9 6 TOTAL 2,843.0 100 8
Slide 10: Infrastructure
S-~ nt fall NWS Infrastructure
Slide 11: Infrastructure projects by segment
Roads and related projects in 19 Guangdong, Guangxi, Shanxi and Tianjin Roads 1 Tunnel project in Hong Kong Power plants in Mainland China 4 and Macau Energy 1 Fuel company in Guangzhou Water projects in Mainland China 24 and Macau 1 Incineration plant in Shanghai 1 Sludge treatment plant in Suzhou
Slide 12: AOP - Infrastructure
AOP - Infrastructure For the year ended 2010 2009 Change % 30 June (HK$’m) (HK$’m) Fav./(Unfav.) Roads 520.6 789.4 (34) Energy 420.0 245.0 71 Water 233.3 185.6 26 Ports & Logistics 278.0 300.1 (7) TOTAL 1,451.9 1,520.1 (4) 11
Slide 13: Roads
Roads AOP dropped by 34% Guangzhou City Northern Ring Road (廣州市北環高速公路) Closed four months for major repair and maintenance Re-opened in early November 2009 and traffic volume has returned to original level Pearl River Delta projects recorded an increase in average daily traffic volume Shenzhen–Huizh
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: Energy
Energy AOP surged 71% due to lowered coal prices and rise in power demand Combined electricity sales of Zhujiang Power Plants 珠江電廠) 珠江電廠 increased 12% (珠江電廠 Electricity sales of Chengdu Jintang Power Plant 成都金堂電廠) 成都金堂電廠 up 4% (成都金堂電廠 澳門電力) 澳門電力 sales volume up 8% Macau Power (澳門電力 14
Slide 16: Water
Water AOP increased by 26% Full year profit contribution from Chongqing Water Group 重慶水務集團) 重慶水務集團 (重慶水務集團 重慶水廠) 重慶水廠 reported 16% growth in Chongqing Water Plant (重慶水廠 daily average sales volume 上海化學工業區水 Shanghai SCIP Water Treatment Plants (上海化學工業區水 處理廠) 處理廠 Industrial water sales volume up 23% Se
Slide 17: Water - New Investments
Water New Investments Share- Capacity Project name Status holding (m3/day) Chongqing CCIP Water 25.52% 2H 2010 Industrial Water Treatment Plants (Phase 1) – 120,000 重慶長壽化學工業區 Sewage – 40,000 水處理廠 Dalian Changxing 47.5% Operational Sewage – 40,000 Island Environmental Services Company 大連長興島環境服務公司 16
Slide 18: Ports & Logistics
Ports & Logistics AOP decreased by 7% Global economic downturn has slowed down China’s import and export Throughputs of Tianjin Five Continents International 天津五洲國際集裝箱碼頭) 天津五洲國際集裝箱碼頭 dropped Container Terminal (天津五洲國際集裝箱碼頭 by 1% 廈門象嶼新創 Xiamen New World Xiangyu Terminals (廈門象嶼新創 建碼頭) 天津東 建碼頭 and Tian
Slide 19: China Rail Container Terminals Project
China Rail Container Terminals Project 18 pivotal rail container terminals in 18 major cities in Mainland China 8 terminals are now operational Terminal under operation Kunming (昆明) Dalian (大連) Chongqing (重慶) Qingdao (青島) Chengdu (成都) Wuhan (武漢) Zhengzhou (鄭州) Shanghai (上海)* * Xi’an (西安) (Oct 2010)
Slide 20: China Rail Container Terminals Project - Kunming
China Rail Container 昆明) 昆明 Kunming (昆明 Terminals Project • Remarkable throughput growth since operational in Jan 2008 resulted from: – Business transfer from existing MOR terminal – Cargo volume growth in Kunming FY08 FY09 FY10 FY10 (Budget) Throughput (TEU) 70,000 159,000 267,000 206,000 Growth ra
Slide 21: China Rail Container Terminals Project
China Rail Container Terminals Project Terminal performance • Projected total 1st year throughput of approx. 1.5 million TEUs e.g. Chengdu 270,000 TEUs and Chongqing 200,000 TEUs • Based on current project development progress: – All 18 terminals would be completed by end of 2012 – Anticipate breake
Slide 22: Services
S-~ nt fall NWS Services
Slide 23: AOP – Services
AOP – Services For the year ended 2010 2009 Change % 30 June (HK$’m) (HK$’m) Fav./(Unfav.) Facilities Management 825.1 612.1 35 Contracting & Transport 410.1 285.7 44 Financial Services 155.9 119.2 31 TOTAL 1,391.1 1,017.0 37 22
Slide 24: Facilities Management
Facilities Management AOP up by 35% Benefited from the recovery of local economy HKCEC – Enhanced contribution upon the completion of Atrium Link expansion in April 2009 Free Duty – Benefited from robust growth in visitors and their increased average spending 23
Slide 25: Contracting & Transport
Contracting & Transport Overall AOP increased by 44% Hip Hing Construction Gross contract-on-hand: HK$17.6 billion* Remaining value: HK$11.6 billion* New Projects GFA - Goodman Logistic Centre 285,000m2 - Cathay Pacific Air Cargo Terminal 280,000m2 Transport AOP improved due to lower fuel costs 24 (
Slide 26: Financial Services
Financial Services AOP increased by 31% Disposed of 52.86% shareholding in Taifook Securities and continue to hold 9% stake Contribution from Tricor remained stable 25
Slide 27: Outstanding Profit Track Record
Outstanding Profit Track Record PAT 5 4 HK$'billion 3 2 PAT CAGR: 1 17.32% 0 2004 2005 2006 2007 2008 2009 2010 Year 26
Slide 28: Solid Growth in Net Assets
Solid Growth in Net Assets 28.0 $26.5B 23.0 HK$'billion 18.0 CAGR: 17.81% 13.0 $9.9B 8.0 2004 2005 2006 2007 2008 2009 2010 27
Slide 29: Strong Financial Position & Net Cash Position
Strong Financial Position & in Net Cash Position • Debt level FY2004 – FY2009 • FY2010 Net Cash Position (HK$0.3 billion as at 30 June 2010) Debt level 10.0 120% 9.0 8.0 100% 7.0 HK$'billion 80% 6.0 5.0 60% 4.0 3.0 40% 2.0 20% 1.0 - 0% 3 04 05 06 07 08 09 00 20 20 20 20 20 20 /2 /1 29 Net debt (excl
Slide 30: Future Growth
Future Growth Roads Guangzhou-Zhaoqing Expressway (廣肇高速公路) up 22% in average daily traffic Guangzhou City Nansha Port Expressway (廣州市南沙港快速路) has become operational Guangzhou Dongxin Expressway (廣州市東新高速公路) will commence operation in end of 2010 Energy Chengdu Jintang Power Plant (成都金堂電廠) has become p
Slide 31: Future Growth (cont'd)
Future Growth (cont’d) Water Chongqing CCIP Water Treatment Plants (重慶長壽化學工業區水處理廠) Dalian Changxing Island Environmental Services Company (大連長興島環境服務公司) Ports & Logistics Xiamen Haicang Xinhaida Container Terminals (廈門海滄 新海達集裝箱碼頭) expected to be operational in 2H 2011 Rail Container Terminals Project
Slide 32: Future Growth (cont'd)
Future Growth (cont’d) HKCEC New businesses and incremental revenue from atrium expansion Free Duty Robust growth in visitor arrivals Increased spending per passenger Construction – secured sizeable contracts Goodman Logistics Centre Cathay Pacific Air Cargo Terminal 31
Slide 33: Achievements
Achievements Roads - Guangzhou City Northern Ring Road • 2008-2009 Guangzhou City Corporate Harmonious in Labour Relation (AA Rating) Water - Sino-French Holdings • Top Ten Most Influential Enterprises in Mainland China’s Water Supply Industry 2009 Facilities Management - HKCEC • CEI Asia Industry A
Slide 34: nt fal NWS
S-~ nt fal 3 NWS