National Central Cooling Co. (p.s.c.) (tabreed) · DFM:TABREED
National Central Cooling Co. (p.s.c.) (tabreed) — National Central Cooling Company PJSC (Tabreed) — FY2021 Earnings Presentation
24 slides from National Central Cooling Co. (p.s.c.) (tabreed)'s earnings presentation, Feb 15, 2022
Slide 1: National Central Cooling Company PJSC Full Year 2021 Earnings Presentation
National Central Cooling Company PJSC (DFM: TABREED) Full Year 2021 Earnings Presentation 15 February 2022
Slide 2: Disclaimer
Disclaimer • These materials have been prepared by and are the sole responsibility of the National Central • No person is authorized to give any information or to make any representation not contained in and Cooling Company PJSC, ‘Tabreed’ (the “Company”). These materials have been prepared solely f
Slide 3: Agenda
Agenda 1 Introduction and Business Highlights 4 2 Tabreed Leadership 10 3 Performance Highlights 13 4 Financial Results 16 5 Conclusion 21 | 3
Slide 4: Introduction and Business Highlights
01 Introduction and Business Highlights
Slide 5: Tabreed at a Glance
Introduction and Business Highlights Tabreed at a Glance One of the world’s largest district cooling companies 86 Environmentally responsible operations reducing green house gas emissions plants in 4 countries 2.33 billion kWh 1.39 million tons reduction in energy consumption in the elimination GCC
Slide 6: Connected Capacity (kRT)
Introduction and Business Highlights Connected Capacity (kRT) Consolidated Q4 2020 Q1 2021 Q2 2021 Q3 2021 Q4 2021 UAE 925 928 940 954 1,025 Bahrain 32 32 33 33 33 Oman 32 33 33 33 33 Total Consolidated 989 993 1,006 1,019 1,091 Equity Accounted UAE 71 71 71 74 9 KSA 110 110 110 110 110 Total Equity
Slide 7: Organic Capacity Growth
Introduction and Business Highlights Capacity Growth 138% 128% 128% 107% Organic Capacity Growth 83 83 84 80 75 60 65 65 (kRT) 2017/18 2018/19 2019/20 2020/21 Guidance Delivered • Previously announced capacity guidance of 120k RT to be added over 2021 and 2022 • 40k RT was added in 2021, which inclu
Slide 8: Key Business Developments
Introduction and Business Highlights Key Business Developments Focus on developing platform for future growth opportunities Partnership with IFC Additional Stake • The partnership will include Divested Qatar Cool Acquired ownership of Tabreed India Saadiyat Island DC • New holding company • Divested
Slide 9: Red Sea Project, KSA
Introduction and Business Highlights Red Sea Project, KSA Expected to pave way for Saudi Tabreed to secure future projects in the KSA ▪ The Red Sea project is part of Saudi Giga Projects which hold strategic importance to the country’s goals and vision ▪ The project will position KSA on the global t
Slide 10: Tabreed Leadership
02 Tabreed Leadership Otabreed
Slide 11: Board of Directors
Tabreed Leadership Board of Directors Continuity of board with four directors each appointed by Mubadala and ENGIE. Khaled Al Qubaisi is the Chief Executive Officer, Real Estate & Infrastructure Investments at Mubadala. Paulo Almirante is currently Senior Executive Vice President of global energy le
Slide 12: Senior Management
Tabreed Leadership Senior Management Khalid Al Marzooqi Adel Salem Al Wahedi Hamish Jooste Antonio Di Cecca François Xavier Boul Chief Executive Officer Chief Financial Officer Chief Legal Counsel Chief Operating Officer Chief Development Officer Appointed as CEO of Tabreed in May Appointed as Tabre
Slide 13: Performance Highlights
03 Performance Highlights Otabreed
Slide 14: 2021 Highlights
Performance Highlights 2021 Highlights Financial Highlights: 12M 2021 vs. 12M 2020 AED 1,955m AED 1,882m AED 1,033m AED 585m +12.3% +11.6% +6.6% +6.3% Total Revenue Chilled Water Revenue EBITDA Net Income Performance Highlights and Other Developments • Total Revenue increased by 12.3%. Chilled Water
Slide 15: Headline Performance: Group Connected Capacity and Revenue
Performance Highlights Headline Performance UAE Other 1 Long-term • Providing over 1.21m RT of cooling across GCC – grown at 10% CAGR since 2018 Group Connected Capacity (kRT) 965 1,174 1,210 914 contracts with • Long term contracts (~25 years) mean over 90% of contracted capacity locked in for 140
Slide 16: Financial Results
03 Financial Results Otabreed
Slide 17: Income Statement
Financial Results Income Statement Consolidated Financials (AED m) FY 2021 FY 2020 Variance % Revenue 1,955.1 1,740.7 214.4 12% Chilled water revenue (96%) 1,882.1 1,686.9 195.2 12% Value chain businesses (4%) 73.0 53.8 19.2 36% Operating cost (1,084.3) (886.1) (198.2) 22% Gross Profit 870.8 854.6 1
Slide 18: Financial Position
Financial Results Financial Position Consolidated Financials (AED m) 31 Dec 2021 31 Dec 2020 Variance % Fixed Assets 8,237.0 8,010.9 226.1 3% Intangibles 4,284.5 2,360.1 1,924.3 82% Associates and Joint Ventures 372.8 358.3 14.5 4% Accounts Receivable 691.0 898.5 (207.5) -23% Cash and Short-Term Dep
Slide 19: Cash Flow Statement
Financial Results Cash Flow Statement Consolidated Financials (AED m) FY 2021 FY 2020 Variance % Profit from Operations 623.2 630.1 (6.9) -1% Finance lease amortization 136.8 117.6 19.2 16% Depreciation and Amortization 273.2 222.4 50.8 23% Working Capital and other adjustments 283.2 (340.8) 624.0 -
Slide 20: Debt Portfolio and Return Ratios
Financial Results Debt Portfolio and Return Ratios Investment grade status affirmed by both Fitch and Moody’s 1 Net Debt Profile (AED m) 2 Debt Maturity Profile 6,165 653 5,378 5,512 2,740 2,914 Dec-18 Dec-19 Dec-20 Dec-21 2021 2022 2023 2024 2025 2026 - 31 AED 653 million added in 2021 on account o
Slide 21: Conclusion
04 Conclusion Otabreed
Slide 22: Environmental Impact
Conclusion Environmental Impact Tabreed has set its own targets to support energy consumption reduction and emission prevention, through innovative technology solutions and environmentally-friendly practices. Pioneered various innovations Demonstrated environmental impact (YTD 2021) Utilization of T
Slide 23: Partner of choice across GCC for environmentally friendly cooling solutions
Conclusion Partner of choice across GCC for providing environmentally friendly cooling solutions Resilient Business Model Capacity Growth Strong Cash Flow • Tabreed provides an essential utility service Visibility • Our recent Green Financing Framework confirms the sustainable nature of our core bus
Slide 24: Contact Us
Contact Us Bijay Sharma Churchgate Partners Email: Tabreed@churchgatepartners.com Richard Rose Salik Malik Riyad Hammad SVP, Finance Head, Financial Planning & Analysis Head, Head of Treasury and IR Tel: +971 2 2020400 Tel: +971 2 2020397 Tel: +971 2 2020367 Email: IR@tabreed.ae Email: smalik@tabree
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