Alstom SA · EURONEXT:ALO
Alstom SA — Investor Day (March 2008)
35 slides from Alstom SA's investor day presentation, Mar 10, 2008
Slide 1: Analyst Days in Dubai: Gulf Overview
ANALYST DAYS IN DUBAI Gulf Overview Sylvain Hijazi 10 March 2008
Slide 2: Geographical context
Geographical context Syria Lebanon Iraq Iran Israel Jordan Kuwait Bahrain Qatar UAE Oman Total Area: 430,000 sq.km Saudi Arabia Population: 12.1 million GDP: 416 B.USD Currencies: Linked to US$ Installed Capacity: 53GW (GT 35 MW + ST 18 MW) Transport Rail: 0 km Yemen P2
Slide 3: History of Gulf Countries (1/2)
History of Gulf Countries (1/2) Were under the British Military control KUWAIT • The first country gained independence on June 19, 1961 • Al-Sabah dynasty has had a close partnership with British Foreign relations and defense since 1899 OMAN • The second country became independent on Nov.18, 1970 •
Slide 4: History of Gulf Countries (2/2)
History of Gulf Countries (2/2) BAHRAIN • Became independent on Aug. 15, 1971, Al-khalifa family had close relations with UK since 1870 UAE • The federation formed in Dec.2, 1971 with 6 Emirates (excluding Fujairah). Fujairah joined the federation in early 1972 (originally the idea was to create the
Slide 5: Gulf Oil & Gas Reserves
Gulf Oil & Gas Reserves P5 Oil Gas
Slide 6: GCC Interconnection – Gas Link
GCC Interconnection – Gas Link Completed Under construction • Actual Gas price 1.25$/Mbtu to 1.6$/Mbtu (still low versus other countries) • Gas price will be increased to 3$/Mbtu in 2010 • Dolphin pipe line will start to feed by 2 bcf/d on next April 08 (instead of 1.2 bcf/d actual today) P6
Slide 7: GCC Interconnection - Electricity Link
Regional policy GCC Interconnection - Electricity Link The interconnections are to be constructed in 3 phases and will provide 600 – 800 MW of power to Bahrain, Kuwait, Oman, Qatar & UAE. P7
Slide 8: GCC Interconnection – Rail Link
Regional policy GCC Interconnection – Rail Link Project realisation may come by 2015 P8
Slide 9: Economic situation
Economic situation Macro Economic Data - Gulf Countries (UAE, Bahrain, Qatar, Oman & Kuwait) COUNTRY Area Pop u l a ti o Oi l Oi l Ga s Ga s GD P GD P Per Reven u e Exp en d. Exp ort In p ort Cu rren cy Exc.Ra te (km 2) n (M i l l i on ) Res erve Prod. Res erve Prod. (Bi l l i o Ca p i ta (Bi l l i
Slide 10: Bahrain
Bahrain Bahrain was one of the first States in the Gulf to discover oil The Kingdom of Bahrain is made up of 33 islands and is home to one of the largest aluminum smelters in the world. Capital: Manama Population: 800,000 GNI per capita: US$ 21,330 Area: 695.3 sq km GDP: US$ 16.9 billion Exchange Ra
Slide 11: Kuwait
Kuwait The State of Kuwait is a small, oil-rich country nestling at the top of the Gulf, flanked by large and powerful neighbours - Saudi Arabia to the South, Iraq to the North and Iran to the East. Capital: Kuwait City Population: 3.2 million GNI per capita: US$ 30,188 Area: 17,818 sq km GDP: US$ 1
Slide 12: Oman
Oman Sultanate of Oman is a well-off country with large oil and gas resources, a substantial trade surplus, and low inflation. Oil is the mainstay of the economy, providing around 40% of GDP. Capital: Muscat Population: 2.6 million GNI per capita: US$13,609 Area: 309,500 sq km GDP: US$ 40.5 billion
Slide 13: Qatar
Qatar The State of Qatar has developed from being one of the poorest Gulf States to become one of the richest. Natural Gas reserves 3rd largest in the world. RASGAS QATARGAS (Contracted LNG exports million tonnes a year) 90 80 Capital: Doha 70 Population: 1 million 60 50 Area: 11,437 sq km 40 30 GNI
Slide 14: United Arab Emirates (UAE)
United Arab Emirates (UAE) A federation of seven emirates formed in 1971: Abu Dhabi, Dubai, Ajman, Fujairah, Ras Al Khaimah, Sharjah and Umm Al Quwain. The UAE is governed by a Supreme Council of Rulers of each of the emirates and presided by Sheikh Khalifa bin Zayed Al Nahyan (Ruler of Abu Dhabi).
Slide 15: UAE: Federation of Emirates
UAE UAE: Federation of 7 Emirates EMIRATE RULER ABU DHABI H.H.Shaikh Khalifa Bin Zayed Al Nahyan DUBAI H.H.Shaikh Mohammad Bin Rashid Al Maktoum SHARJAH H.H.Dr.Shaikh Sultan Bin Mohammed Al Qassimi AJMAN H.H.Shaikh Humaid Bin Rashid Al Nuaimi FUJAIRAH H.H.Shaikh Hamad Bin Mohammed Al Sharqi RAS AL H
Slide 16: Economic Context Gulf
Economic Context Gulf Continuous high growth on Buildings & Infrastructure High pressure to produce more Oil & Gas Shift of Aluminium production to the Gulf (over 4 MT/Y to be built over the coming 12 years) High Market Potential for Alstom P 16
Slide 17: Dubai - Sheikh Zayed Road Development 1990-2010
Dubai - Sheikh Zayed Road Development 1990-2010 Sheikh Zayed Road 1990 2003 Burj Dubai Project 2007: Under Construction Completion by March 2010 P 17
Slide 18: Dubai – Building its Biggest and Prominent Projects
Dubai – Building its Biggest and Prominent Projects The World Jumeirah Lakes Dubai Marina The Palm-Jumeirah P 18
Slide 19: Economic Context – High Growth on Building & Infrastructure
Economic Context – High Growth on Building & Infrastructure P 19
Slide 20: Registered Vehicles in Dubai Emirate
Dubai Emirate Registered Vehicles in Dubai Emirate 1400 1150 1200 # of Veh. (in 1000s) 780 1000 # of Veh. (in 1000s) 568 800 491 389 421 600 354 294 321 266 400 199 236 213 200 0 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 Year Source: RTA - Dubai P 20
Slide 21: Dubai Rail Projects - Phase Construction
Dubai Rail Projects - Phase Construction Union Square Americ Al Sufouh an Tram Red Line Univ. Original Red Line Extension Green Line Burj Dubai Extension Blue Line Tram Green Line Purple Line Extension Motor city Tram Rashidiya Depot Blue Line Red Line (From Rashidiya to University) 112 km 36 statio
Slide 22: Rail Projects – Abu Dhabi
Rail Projects — Abu Dhabi YAS ISLAND DEVELOPMENT POSSIBLE RAIL/URT ALIGNMENTS WITHIN THE STUDY AREA
Slide 23: Abu Dhabi - Prominent Projects
Abu Dhabi - Prominent Projects SARAYAH IN ABU DHABI P 23
Slide 24: Growth in GCC Countries
Growth in GCC Countries PEARL QATAR THE BLUE CITY OMAN BARR AL JISSAH ISLAND P 24
Slide 25: Growth in GCC Countries
Growth in GCC Countries TALA ISLAND BAHRAIN FINANCIAL HARBOUR SILK CITY IN KUWAIT THE RAPID GROWTH & DEVELOPMENT IN THE GULF REGION EQUATES TO A GREATER DEMAND FOR ELECTRICITY IN THE FUTURE. P 25
Slide 26: Economic Context Gulf
Economic Context Gulf Continuous high growth on Buildings & Infrastructure High pressure to produce more Oil & Gas Shift of Aluminium production to the Gulf (over 4 MT/Y to be built over the coming 12 years) P 26
Slide 27: High pressure to produce more Oil
High pressure to produce more Oil MB/d 2004 2010 2020 2030 World Demand 82,1 92,5 104,9 115,4 World Offer 82,1 92,5 104,9 115,4 OPEC Middle East 22,8 26,6 35,3 44,0 + > 50% Arab world holds 60% world oil reserves & 35% of Gas reserves Source: World Energy Outlook P 27
Slide 28: Oil Production
Oil Production * Oil demand in 2008 will average 88 Million bpd Source: EIA / CIA) P 28
Slide 29: Gas Production
Gas Production GCC Gas Overview mw UAE’s Natural Gas Reserves : 213.9 Trillion Cubic Feet 198.0 Trillion Cubic Feet 15.9 Trillion Cubic Feet > Abu Dhabi : > Northern Emirates : gw Largest Reserves In The World: a LL. 8 eee ee 0 WORLD 6,337.4 179.53 258.8 2,691.6 1 RUSSIA 1,694.4 48.0 56.8 589.1 2 IR
Slide 30: Economic Context Gulf
Economic Context Gulf Continuous high growth on Buildings & Infrastructure High pressure to produce more Oil & Gas Shift of Aluminium production to the Gulf (over 4 MT/Y to be built over the coming 12 years) P 30
Slide 31: Global Aluminium Production Shift
Global Aluminium Production Shift 1980 (16 Mt) 2006 (33.9 Mt) 2020 (57.5 Mt) Others , Europe, Europe, USA, Europe, Others , USA, 19% 12% Others , 8% 5% 22% 21% 7% 23% Middle China, Middle East, 2% East, 10% Former 6% Canada, USSR, 7% Canada, 17% 9% Australia Australi China, China, , 4% USA, Australi
Slide 32: Alstom Presence in the Gulf
Alstom Presence in the Gulf SHARJAH – IN / GPS / Transport 20 Persons • 6 persons International Network/GPS • 13 persons Power Systems • 1 person Transport ALSTOM Power Service 140 Persons • Main office & workshop at Jebel Ali Free Zone (Dubai) • Branch offices at Abu Dhabi, Bahrain & Iran Total 160
Slide 33: Major Recent References
Major Recent References BAHRAIN • MEW – Hidd I & II 1000 MW (5 x GT13E2 + 1 x 300 MW ST + 3 HRSG) – Completed • MEW – Riffa Phase II – Upgrade 6 GT13ED to DM/EV Burners – Under realization • ALBA – PS4 650 MW (3 x GT13E2 + 2 x 150 MW ST + 4 HRSG) – Completed KUWAIT • MEW – Al-Zour South 800 MW (5 x
Slide 34: Conclusion
Conclusion • Surplus cash / Liquidity (High Revenue) • Growing Economy & high demographic growth • High oil and gas reserves • Low cost of Energy • No corporate Tax or Individual Tax • Low custom Duties (4%) • Low cost of manpower (open market) • Pre-planned ruling family succession / favorable Poli
Slide 35: www.alstom.com
www.alstom.com