Ctf Services Limited · HKEX:659

Ctf Services — NWS Holdings — FY2016 Earnings Presentation

37 slides from Ctf Services's earnings presentation, Sep 20, 2016

  1. Slide 1: FY2016 Annual Results: Strategic Focus, Balanced Growth

    FY2016 Annual Results Strategic Focus Balanced Growth

  2. Slide 2: Financial Summary

    Financial Summary 2016 2015 Change For the year ended 30 June (HK$’M) (HK$’M) (%) Revenue 29,497.8 24,491.8 20 Attributable Operating Profit 4,739.6 4,456.6 6 (AOP) Profit Attributable to 4,912.8 4,477.6 10 Shareholders (PAT) Basic Earnings per share (HK$) 1.30 1.19 9 Dividend per share (HK$) 0.65 0

  3. Slide 3: Financial Position

    Financial Position As at As at 30 Jun 2016 31 Dec 2015 (HK$’M) (HK$’M) Total cash and bank balances 8,924 11,369 Total debt 15,065 18,456 Net debt position 6,141 7,087 Net gearing ratio 13% 16% 3

  4. Slide 4: NWS Investment Portfolio

    NWS Investment Portfolio Infrastructure Services 基建 服務 Roads Facilities Management 道路 設施管理 Environment 環境 Construction & Transport Logistics 建築及交通 物流 Strategic Investments Aviation 策略性投資 航空 4

  5. Slide 5: Attributable Operating Profit

    Attributable Operating Profit By Segment By Region HK$’M HK$’M 5,000 4,740 5,000 4,740 4,457 4,457 4,000 4,000 2,625 2,856 2,556 2,616 3,000 (59%) (60%) 3,000 (57%) (55%) 2,000 2,000 1,000 1,832 1,884 1,000 1,901 2,124 (41%) (40%) (43%) (45%) 0 0 FY2015 FY2016 FY2015 FY2016 Infrastructure Hong Kong

  6. Slide 6: Infrastructure

    Infrastructure Roads Environment Logistics Aviation 6

  7. Slide 7: Infrastructure

    Infrastructure Roads and related projects in Guangdong, 16 Guangxi, Shanxi, Zhejiang and Tianjin Roads 1 Tunnel project in Hong Kong Water treatment projects in the PRC and 26 Macau 1 Incineration plant in Shanghai 3 Sludge treatment projects in the PRC 1 Landfill project in Hong Kong Environment Te

  8. Slide 8: AOP by Segment

    Infrastructure AOP by Segment 2016 2015 Change For the year ended 30 June (HK$’M) (HK$’M) (%) Roads 1,259.8 1,201.0 5 Environment 469.8 631.4 26 Logistics 702.6 548.9 28 Aviation 424.0 243.6 74 Total 2,856.2 2,624.9 9 8

  9. Slide 9: Roads: AOP

    Infrastructure Roads AOP – Roads HK$’M 1,400 (+5%) 26% 1,200 FY2016 AOP 1,000 800 1,201 1,260 600 27% 400 FY2015 AOP 200 0 FY2015 FY2016 9

  10. Slide 10: Highlights – Roads

    Infrastructure Roads Highlights – Roads  Overall traffic up 12%  Tangjin Expressway (Tianjin North Section) – full-year impact of operation after expansion Vehicles ‘000 Average Daily Traffic Flow 300 286 259 200 146 156 100 83 84 47 36 0 Guangzhou City Beijing-Zhuhai Expressway Hangzhou Ring Road

  11. Slide 11: Highlights – Roads (Cont'd)

    Infrastructure Roads Highlights – Roads (Cont’d)  Steady revenue growth  AOP up 23% without the impact of RMB depreciation Average Daily Toll Revenue RMB ‘000 6,000 5,173 4,952 5,000 4,000 2,898 3,050 3,000 2,000 1,796 1,955 1,584 1,092 1,000 0 Guangzhou City Beijing-Zhuhai Expressway Hangzhou Rin

  12. Slide 12: AOP – Environment

    Infrastructure Environment AOP – Environment HK$’M 700 10% 600 (-26%) FY2016 AOP 500 400 631 470 300 14% 200 FY2015 AOP 100 0 FY2015 FY2016 12

  13. Slide 13: Highlights – Environment

    Infrastructure Environment Highlights – Environment  Water and waste AOP up 6%  Sino French Water 中法水務 – water projects treatment volume up 4%  Chongqing Derun Environment 重慶德潤環境 – 6-month AOP contribution  Energy AOP fell by 72%  Electricity sales volume down 27%  Average coal-fired on-grid t

  14. Slide 14: Highlights – Environment (Cont'd)

    Infrastructure Environment Highlights – Environment (Cont’d)  Sino French Water maintaining growth momentum  Business expansion • Water / waste water – capacity reached 8 million m3 per day • Qingdao Dongjiakou Waste Water Plant (operational Jan 2016) • Yangzhou Sludge Treatment Plant (operational

  15. Slide 15: Highlights – Environment (Cont'd)

    Infrastructure Environment Highlights – Environment (Cont’d)  Chongqing Derun Environment  Chongqing Water Group (SH:601158) • Water / waste water – capacity 4.2 million m3 per day  Chongqing Sanfeng Environmental Industrial Group • Waste-to-Energy – capacity 9,600 tonnes per day  Soil remediati

  16. Slide 16: AOP – Logistics

    Infrastructure Logistics AOP – Logistics HK$’M 800 (+28%) 15% 600 FY2016 AOP 400 549 703 12% FY2015 AOP 200 0 FY2015 FY2016 16

  17. Slide 17: Highlights – Logistics

    Infrastructure Logistics Highlights – Logistics  ATL Logistics Centre  97.4% occupancy rate  Average rental up 15%  NWS Kwai Chung Logistics Centre ATL Logistics Centre  Disposal completed in Aug 2016  Fair value gain of HK$850 million recognized in relation to the disposal 17

  18. Slide 18: Highlights – Logistics (Cont'd)

    Infrastructure Logistics Highlights – Logistics (Cont’d)  Xiamen Container Terminal Group 廈門集裝箱碼頭集團  Throughput up 11%  Steady growth momentum since merger in Dec 2013  Tianjin port projects throughput down 4% Xiamen Container Terminal Group 18

  19. Slide 19: Highlights – Logistics (Cont'd)

    Infrastructure Logistics Highlights – Logistics (Cont’d) Terminals in operation Kunming Qingdao  China United Int’l Rail Containers (CUIRC) • • Chongqing • • Wuhan • Chengdu • Xian  Throughput up 14% to 2.1 million TEUs • Zhengzhou • Dalian reflecting rising demand for break-bulk cargo Terminals u

  20. Slide 20: AOP – Aviation

    Infrastructure Aviation AOP – Aviation HK$’M 500 (+74%) 9% 400 FY2016 AOP 300 6% 200 244 424 FY2015 AOP 100 0 FY2015 FY2016 20

  21. Slide 21: Highlights – Aviation

    Infrastructure Aviation Highlights – Aviation  Beijing Capital International Airport (BCIA) 北京首都國際機場  Passenger throughput up 3% to 91 million  International passengers up 9%  Revenue up 7% BCIA 21

  22. Slide 22: Highlights – Aviation (Cont'd)

    Infrastructure Aviation Highlights – Aviation (Cont’d)  Goshawk Aviation Limited (Goshawk)  Full-year AOP contribution  Fleet size reached 68 (AUM USD2.7 billion)  Committed to 80 aircraft (as at 31 Aug 2016)  Young fleet (average 4 years) with long leases attached (average 7 years) 22

  23. Slide 23: Goshawk's portfolio as at 30 Jun 2016

    Infrastructure Aviation Highlights – Aviation (Cont’d)  Goshawk’s portfolio as at 30 Jun 2016 Others 6% America 18% Australia B737 A320 10% Asia 40% 54% 51% Europe 21% Aircraft type Geographical Spread Feb 2015 Jun 2015 Jun 2016 No. of aircraft 27 40 68 No. of lessees 15 18 30 No. of countries 13 1

  24. Slide 24: Highlights – Aviation (Cont'd)

    Infrastructure Aviation Highlights – Aviation (Cont’d)  Bauhinia Aviation Capital Limited  Second aircraft leasing platform established in Dec 2015  Effective interest 40% (CTFE 40%; Aviation Capital Group 20%)  Immediate cash flow and AOP contribution expected in FY2017 24

  25. Slide 25: Services

    Services HKCEC Free Duty Shops Construction Transportation 25

  26. Slide 26: Services: AOP by Segment

    Services AOP by Segment 2016 2015 Change For the year ended 30 June (HK$’M) (HK$’M) (%) Facilities Management 645.0 861.5 25 Construction & Transport 911.6 691.1 32 Strategic Investments 326.8 279.1 17 Total 1,883.4 1,831.7 3 26

  27. Slide 27: Facilities Management: AOP

    Services Facilities Management AOP – Facilities Management HK$’M 900 14% (-25%) FY2016 AOP 600 862 645 19% 300 FY2015 AOP 0 FY2015 FY2016 27

  28. Slide 28: Highlights – Facilities Management

    Services Facilities Management Highlights – Facilities Management  HKCEC  Steady revenue despite reduced patronage  Events up 3% HKCEC  Free Duty  Performance reflected rising rentals and slowing retail sales  Impact partly mitigated by growth momentum at Lok Ma Chau Station 28

  29. Slide 29: Construction & Transport: AOP

    Services Construction & Transport AOP – Construction & Transport HK$’M 1,000 (+32%) 19% 800 FY2016 AOP 600 691 912 16% 400 FY2015 AOP 200 0 FY2015 FY2016 29

  30. Slide 30: Highlights – Construction & Transport

    Services Construction & Transport Highlights – Construction & Transport  Construction  Revenue growth of 32% supported by rising job margins  Gross contract-on-hand: HK$69.7 billion  Remaining value: HK$38.6 billion  Transport  Overall performance enhanced by lower fuel costs and rising patron

  31. Slide 31: Strategic Investments: AOP

    Services Strategic Investments AOP – Strategic Investments HK$’M 350 (+17%) 7% 300 FY2016 AOP 250 200 279 327 6% 150 100 FY2015 AOP 50 0 FY2015 FY2016 31

  32. Slide 32: AOP & PAT

    6 AOP & PAT CAGR: 8% 5 AOP HK$’ Billion 4 PAT 3 CAGR: 10% 2 1 0 32

  33. Slide 33: Net Assets

    50 Net Assets $45.9B 45 40 CAGR: 14% HK$’ Billion 35 30 25 20 15 10 $9.9B 5 0 33

  34. Slide 34: Outlook & Conclusion: Infrastructure

    Outlook & Conclusion Infrastructure Roadmap to sustainable value creation  Roads  Continuous growth in car ownership in Mainland China  Hangzhou Ring Road wholly-owned by the Group  Amendment of “Regulation on the Administration of Toll Roads” 收費公路管理條例 expected in 2H2016  Environment  13th Fiv

  35. Slide 35: Outlook & Conclusion: Services

    Outlook & Conclusion Services Enhancing resilience with healthcare services  Free Duty  Challenging retail environment  Construction  Capitalize on the vibrant construction market and strong order book  Gleneagles Hong Kong Hospital  Target to open in early 2017 Gleneagles Hong Kong Hospital 3

  36. Slide 36: Disclaimer

    Disclaimer NWS Holdings Limited (“NWS”) makes no representation or warranty of any kind, express, implied or statutory regarding the accuracy or completeness of the information contained. The information in this presentation is prepared solely for information purposes only. Users and readers are cau

  37. Slide 37: Q&A Session

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NWS Holdings — FY2016 Earnings Presentation on 6ix