National Central Cooling Co. (p.s.c.) (tabreed) · DFM:TABREED
National Central Cooling Co. (p.s.c.) (tabreed) — National Central Cooling Company PJSC (Tabreed) — FY2013 Earnings Presentation
17 slides from National Central Cooling Co. (p.s.c.) (tabreed)'s earnings presentation, Jan 26, 2014
Slide 1: FY 2013 Results Presentation
National Central Cooling Company PJSC 26 January 2014 FY 2013 Results Presentation
Slide 2: Disclaimer
Disclaimer • These materials have been prepared by and are the sole responsibility of the National Central Cooling Company PJSC, ‘Tabreed’ (the “Company”). These materials have been prepared solely for your information and for use at the presentation to be made on 26 January 2014. By attending the m
Slide 3: Agenda
Agenda • Overview • Headline Performance • Operational and Financial Highlights • Chilled Water Performance • Summary 3
Slide 4: Tabreed's Story
Tabreed’s Story …District Cooling (DC) is 50% more Overall cooling represents 70% of the …DC comes at ~16% lower life cycle energy efficient than Conventional GCC’s energy peak consumption… cost than CC Cooling (CC)… 100% 84% -16% -50% Paid 63% Upfront 49 39 Capex KWh/RTh 7% Charged 17% 51 45 Variab
Slide 5: Company Overview
Company Overview World’s Largest • 60 district cooling plants across the UAE and an additional 6 district cooling plants across the GCC District Cooling • Total connected capacity of 839,000 RT Company • Over 23,000 shareholders including Mubadala, ACWA and the Retirement fund Operational • Provides
Slide 6: Headline Performance
Headline Performance VCB Profit from Ops CW Profit from Ops One-off CW profit 356 358 • Chilled Water Revenue up 4% to AED 1,027.4m 301 18 9 10 Strong focus on AED m • 6% increase in Chilled Water Profit from Operations 266 27 348 Core Business • CW business represents 97% of Profit from Operations
Slide 7: Operational Highlights
Operational Highlights Number of Plants Gross Capacity CAGR +6% CAGR +12% 839 kRT 65 65 66 767 kRT 703 kRT 55 597 kRT 2010 2011 2012 2013 2010 2011 2012 2013 Group Revenue (AED m) Group EBITDA Margin Value Chain Business CW one-off Chilled Water CAGR +9% CAGR +2% 46% 44% 39% 171 118 73 36% 18 270 94
Slide 8: Financial Highlights – Income Statement
Financial Highlights – Income Statement Audited Consolidated Financials (AED m) 2013 2012 Revenue 1,100.2 1,128.7 Chilled Water (93% of revenue) 1,027.4 993.0 4% increase in CW revenue Chilled Water one-off - 18.0 Value Chain Businesses (7% of revenue) 72.8 117.8 6% reduction driven by contraction o
Slide 9: Financial Highlights – Balance Sheet
Financial Highlights – Balance Sheet Audited Consolidated Financials (AED m) 2013 2012 Fixed Assets 6,633.0 6,790.3 Associates and Joint Ventures 524.5 459.5 43% reduction as a result of continued Accounts Receivable 240.7 425.4 focus on cash collections Other Receivables & Prepayments 217.8 132.9 H
Slide 10: Financial Highlights – Cashflow
Financial Highlights – Cashflow Audited Consolidated Financials (AED m) 2013 2012 EBITDA for the year 506.4 501.7 Finance Income relating to Finance Lease receivable (121.7) (124.9) Lease Rentals received 125.4 110.7 Significant improvement in Working Capital Adjustments 88.3 (91.3) receivables Stro
Slide 11: Chilled Water Performance
Chilled Water Performance Gross Capacity (kRT) Revenue (AED m) CW one-off Other Group UAE CAGR +11% CAGR +12% 18 203 155 138 110 993 1,027 944 612 636 753 565 487 2010 2011 2012 2013 2010 2011 2012 2013 Chilled Water Profit from Operations (AED m) (AED m) UAE Bahrain Qatar Other Total Margin Revenue
Slide 12: Summary
Summary • Air conditioning is an absolute necessity in the GCC Why District • District Cooling enables a 50% reduction in energy consumption and carbon footprint Cooling? • District Cooling is 16% cheaper than conventional cooling • Tabreed is the largest utility infrastructure business offering coo
Slide 13: Q&A
fi tabreed Q&A 13
Slide 14: Contact Details
Contact Details For further information please contact Salam Kitmitto Communications Director skitmitto@tabreed.ae +971 2 645 5007 ext. 692 Suzanne Holt Snr. Corporate Finance and Investor Relations Manager sholt@tabreed.ae +971 2 645 5007 ext. 424 14
Slide 15: Appendix
fi tabreed Appendix 15
Slide 16: Financial Highlights – Q4 Income Statement
Financial Highlights–Q4 Income Statement Audited Consolidated Financials (AED m) Q4 2013 Q4 2012 Revenues 273.7 286.7 Chilled Water (92% of revenue) 251.5 245.4 3% increase in CW revenue Chilled Water one-off - 18.0 Value Chain Businesses (8% of revenue) 22.2 23.3 Operating Costs (155.6) (155.2) Gro
Slide 17: Financial Highlights – Q4 Cashflow
Financial Highlights – Q4 Cashflow Audited Consolidated Financials (AED m) Q4 2013 Q4 2012 EBITDA for the period 126.7 139.5 Finance income relating to finance lease receivable (30.4) (33.7) Lease Rentals Received 30.9 31.8 Significant improvement in Working Capital Adjustments 42.6 (30.5) receivabl
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