Ctf Services Limited · HKEX:659

Ctf Services — NWS Holdings — H1 FY2014 Earnings Presentation

32 slides from Ctf Services's earnings presentation, Feb 25, 2014

  1. Slide 1: FY2014 Interim Results

    a _ #f B32 NWS FY2014 Interim Results FORGING AHEAD PURSUING VALUE Hang Seng Corporate Sustainability Index cl Series Member 2013-2014 canngcompany ==

  2. Slide 2: New World Group Structure

    New World Group Structure New World Development Company Limited 新世界發展有限公司 (HK stock code: 17) 69.7% 61.3% 72.3% New World China Land New World Department Store Limited China Limited 新世界中國地產有限公司 NWS Holdings Limited 新世界百貨中國有限公司 (HK stock code: 917) 新創建集團有限公司 (HK stock code: 825) (HK stock code: 659)

  3. Slide 3: NWS Investment Portfolio

    NWS Investment Portfolio Infrastructure Services 基建 服務 Roads Facilities Management 道路 設施管理 Energy 能源 Construction & Transport Water 建築及交通 水務 Strategic Investments Ports & Logistics 策略性投資 港口及物流 3

  4. Slide 4: Financial Summary

    Financial Summary For the six months ended 2013 2012 Change 31 December (HK$’M) (HK$’M) + / (-)% Revenue 10,097.8 7,971.0 27 Attributable Operating Profit 2,320.2 2,196.0 6 (AOP) Profit Attributable to 2,604.9 2,106.2 24 Shareholders (PAT) Earnings per share HK$0.71 HK$0.59 20 Dividend per share HK$

  5. Slide 5: Financial Position

    Financial Position  Total cash and bank balances: HK$8.8 billion  Total debt: HK$18.1 billion  Net debt position: HK$9.3 billion  Net gearing ratio: 21% (24% as at 30 June 2013) (As at 31 December 2013) 5

  6. Slide 6: Attributable Operating Profit

    Attributable Operating Profit By Segment By Region HK$’M HK$’M 2,500 2,320 2,500 2,320 2,196 2,196 2,000 2,000 1,162 1,316 1,161 1,158 1,500 (53%) (57%) 1,500 (53%) (50%) 1,000 1,000 1,034 1,004 1,035 1,162 (47%) (43%) (47%) (50%) 500 500 0 0 2012 2013 2012 2013 Infrastructure Hong Kong Services Mai

  7. Slide 7: INFRASTRUCTURE

    INFRASTRUCTURE Roads Energy Water Ports & Logistics 7

  8. Slide 8: INFRASTRUCTURE

    INFRASTRUCTURE As at 31 January 2014 Roads and related projects in 19 Guangdong, Guangxi, Shanxi, Zhejiang and Tianjin Roads 1 Tunnel project in Hong Kong 4 Power plants in the PRC and Macau 1 Coal distributor in Guangzhou Energy Water treatment projects in the PRC 27 and Macau 1 Incineration plant

  9. Slide 9: AOP by Segment

    Infrastructure Roads Energy Water Ports & Logistics AOP by Segment For the six months ended 2013 2012 Change % 31 December (HK$’M) (HK$’M) Fav./(Unfav.) Roads 673.2 690.8 (3) Energy 190.8 110.2 73 Water 221.3 207.5 7 Ports & Logistics 230.4 153.4 50 Total 1,315.7 1,161.9 13 9

  10. Slide 10: AOP – Roads

    Infrastructure Roads Energy Water Ports & Logistics AOP – Roads 29% For the six months ended 31 December HK$’M 1HFY14 AOP 700 (-3%) 600 500 400 691 673 300 200 100 0 2012 2013 10

  11. Slide 11: Highlights – Roads

    Infrastructure Roads Energy Water Ports & Logistics Highlights – Roads  Hangzhou Ring Road 杭州繞城公路  Toll revenue up 5% due to the growth of heavy vehicles  Average toll per vehicle up 8% after cancellation of annual pass  Tangjin Expressway (Tianjin North Section) 唐津高速公路(天津北段)  Earnings impacted

  12. Slide 12: AOP – Energy

    Infrastructure Roads Energy Water Ports & Logistics AOP – Energy 8% For the six months ended 31 December HK$’M 1HFY14 AOP 200 (+73%) 150 100 110 191 50 0 2012 2013 12

  13. Slide 13: Highlights – Energy

    Infrastructure Roads Energy Water Ports & Logistics Highlights – Energy  Zhujiang Power Plants 珠江電廠  Electricity sales up 13%  Chengdu Jintang Power Plant 成都金堂電廠  Electricity sales down 19%  Macau Power 澳門電力  Electricity sales up 1% Zhujiang Power Plants  Guangzhou Fuel Company 廣州燃料公司  Tradi

  14. Slide 14: AOP – Water

    Infrastructure Roads Energy Water Ports & Logistics AOP – Water 10% For the six months ended 31 December HK$’M 1HFY14 AOP 250 (+7%) 200 150 208 221 100 50 0 2012 2013 14

  15. Slide 15: Highlights – Water

    Infrastructure Roads Energy Water Ports & Logistics Highlights – Water  Mainland China projects reported healthy sales volume growth  Chongqing Water Plant up 14%  Tanggu Water Plant up 13%  Chongqing Tangjiatuo Waste Water Plant up 27%  Macau Water Plant  Sales volume up 5%; Tariff hike of 6%

  16. Slide 16: AOP – Ports & Logistics

    Infrastructure Roads Energy Water Ports & Logistics AOP – Ports & Logistics 10% For the six months ended 31 December HK$’M 1HFY14 AOP 250 (+50%) 200 150 100 153 230 50 0 2012 2013 16

  17. Slide 17: Highlights – Ports & Logistics

    Infrastructure Roads Energy Water Ports & Logistics Highlights – Ports & Logistics  Tianjin Five Continents Int. Container Terminals 天津五洲國際集裝箱碼頭  Throughput up 2%  Tianjin Orient Container Terminals 天津東方海陸集裝箱碼頭 Tianjin Five Continents Int. Container  Throughput down 2% Terminals  Xiamen Contain

  18. Slide 18: Beijing Capital International Airport (BCIA)

    Infrastructure Roads Energy Water Ports & Logistics Beijing Capital International Airport (BCIA) 北京首都國際機場 (北京機場)  Acquisition of 8.94% BCIA shares in 1HFY2014 (10.3% as at Feb 2014)  Second largest shareholder  Immediate and recurring earnings contribution  Potential growth  Over 80 million pas

  19. Slide 19: Highlights – Ports & Logistics

    Infrastructure Roads Energy Water Ports & Logistics Highlights – Ports & Logistics  ATL Logistics Centre NWS Kwai Chung Logistics Centre  99% occupancy rate  Average rental up 11%  NWS Kwai Chung Logistics Centre Total leasable area of 920,000 sq ft  100% occupancy rate 19

  20. Slide 20: China Rail Container Terminals Project (CUIRC)

    Infrastructure Roads Energy Water Ports & Logistics China Rail Container Terminals Project (CUIRC)  8 terminals in operation Terminal in operation  Throughput up 9% • Kunming • Qingdao  Terminal expansion and development in 2014 • Chongqing • Wuhan • Chengdu • Xian  Chongqing expansion • Zhengzh

  21. Slide 21: SERVICES

    SERVICES Facilities Management Construction & Transport 21

  22. Slide 22: AOP by Segment

    Services Facilities Management Construction & Transport Strategic Investments AOP by Segment For the six months ended 2013 2012 Change % 31 December (HK$’M) (HK$’M) Fav./(Unfav.) Facilities Management 499.4 686.6 (27) Construction & Transport 278.3 123.3 126 Strategic Investments 226.8 224.2 1 Total

  23. Slide 23: AOP – Facilities Management

    Services Facilities Management Construction & Transport Strategic Investments AOP – Facilities Management 21% For the six months ended 31 December HK$’M 1HFY14 AOP 700 600 (-27%) 500 400 687 499 300 200 100 0 2012 2013 23

  24. Slide 24: Highlights – Facilities Management

    Services Facilities Management Construction & Transport Strategic Investments Highlights – Facilities Management  HKCEC  Over 550 events were held with total patronage of approximately 3.9 million  Exhibition revenue up 9%  Free Duty  Renovation of land-border shops completed to enhance shoppin

  25. Slide 25: AOP – Construction & Transport

    Services Facilities Management Construction & Transport Strategic Investments AOP – Construction & Transport 12% For the six months ended 31 December HK$’M 1HFY14 AOP 300 (+126%) 250 200 150 100 123 278 50 0 2012 2013 25

  26. Slide 26: Highlights – Construction & Transport

    Services Facilities Management Construction & Transport Strategic Investments Highlights – Construction & Transport  Construction  Overall improvement in profit margin and project progress  Revenue up 75%  Gross contracts-on-hand: HK$45.6 billion  Transport  Average fuel cost decreased by 5% d

  27. Slide 27: AOP – Strategic Investments

    Services Facilities Management Construction & Transport Strategic Investments AOP – Strategic Investments 10% For the six months ended 31 December HK$’M 1HFY14 AOP 250 (+1%) 200 224 227 150 100 50 0 2012 2013 27

  28. Slide 28: Highlights – Strategic Investments

    Services Facilities Management Construction & Transport Strategic Investments Highlights – Strategic Investments  Profit contributions from  Tricor Holdings Limited  Haitong International  Other investments 28

  29. Slide 29: PERFORMANCE OVERVIEW / OUTLOOK

    PERFORMANCE OVERVIEW / OUTLOOK Core business - quality earnings amidst volatile environment and growth prospects Infrastructure  Roads  Earnings without Tangjin Expressway (Tianjin North Section) grew by 12%  Energy  Normalized coal price in favour of power producers in Mainland China  Water 

  30. Slide 30: PERFORMANCE OVERVIEW / OUTLOOK

    PERFORMANCE OVERVIEW / OUTLOOK Services  Results of Facilities Management affected by cyclical renewal of duty free concessions but impact substantially mitigated by the strong performance of Construction & Transport Going Forward  In acquisition mode (roads and water)  Traffic growth at Tangjin

  31. Slide 31: 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

  32. Slide 32: Q&A Session

    a _ #f B32 NWS Q&A Session 32

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