National Central Cooling Co. (p.s.c.) (tabreed) · DFM:TABREED
National Central Cooling Co. (p.s.c.) (tabreed) — National Central Cooling Company PJSC (Tabreed) — Q2 2011 Earnings Presentation
16 slides from National Central Cooling Co. (p.s.c.) (tabreed)'s earnings presentation, Aug 11, 2011
Slide 1: Q2 11 Results Presentation
Tabreed Q2 11 Results Presentation 11 August 2011
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 11 August 2011. By attending the me
Slide 3: Agenda
Agenda • Overview – Sujit Parhar • Operational Review – Sujit Parhar • Financial Review – Adrian Kershaw • Summary – Sujit Parhar • Q&A 3
Slide 4: Tabreed – Well Positioned to Deliver Shareholder Value
Tabreed – Well Positioned to Deliver Shareholder Value • Strong Q2 11 results demonstrate strength of underlying business • Group revenue of AED 286.6m – up 17% vs. Q1 11 – Strong contribution from Chilled Water (+32%) • Operating profit of AED 80.4m – up 25% vs. Q1 11 – Improvement in operating mar
Slide 5: Operational Review
Operational Review Sujit Parhar CEO 5
Slide 6: Q2 11 Operational Achievements
Q2 11 Operational Achievements Chilled Water • Two plant expansions came online during the second quarter and several new customers were connected • Total installed cooling capacity increased to 551,525 tons across 49 plants • Billed capacity in Q2 11 was (gross) 520,016 tons, up 22k tons since Q1 1
Slide 7: UAE Operational Plants
UAE Operational Plants • In total 10,000 RT of gross capacity came online in Q2 11, increasing capacity to 551,525 RT* (gross) across 49 plants – Average reliability of 99.99% • The capacity increase reflects 2 plant expansions completed in Q2 11 H1 2011 – AD 09 – 5,000 RT – AD 04 – 5,000 RT • A fur
Slide 8: Financial & Operational Metrics
Financial & Operational Metrics Key Metrics 2010 2012e H1 11 Comment Number of Plants 49 62 49 No new plants came online in Q2 11 Installed Capacity (RT) 542k 600k 552k Increase of 10k RT – Two plant expansions came online in Q2 11 Connected Capacity (RT) 477k 575k 520k 22k of capacity connections i
Slide 9: Financial Review
Financial Review Adrian Kershaw CFO 9
Slide 10: H1 11 Financial Highlights
H1 11 Financial Highlights Consolidated results for H1 11 Key Figures – Un-audited Consolidated Financials • Group revenue of AED 532.2m 6-months – Strong contribution from Chilled Water ended 30 June (+29%) All figures in AED m H1 11 H1 10(1) • Gross Profits of AED 219.3m up 22% on H1 10 Revenues 5
Slide 11: Chilled Water (80% of Revenue)
Chilled Water (80% of Revenue) Key Metrics • Revenue sharply higher (AED m) H1 11 H1 10 % Change – 5 new plants have come online since H1 10 Revenues 426 331 29% • Costs increase less rapidly than revenue growth due to utility efficiency improvements and scale impact Cost (235) (207) 14% • Gross pro
Slide 12: Value Chain Businesses (20% of Revenue)
Value Chain Businesses (20% of Revenue) • Contracting, Manufacturing & Services segment Key Metrics (AED m) H1 11 H1 10 % Change • Contraction of contribution from value chain businesses driven by completion of Tabreed’s build-out program and Revenues 107 135 (21%) economic conditions Cost (78) (78)
Slide 13: Summary
| I * a oe fl tabreed Summary Sujit Parhar CEO 13
Slide 14: Summary
Summary • Strong H1 11 results announced – Group revenues of AED 532.2m – Gross profit of AED 219.3m – Net profit of AED 75.7m • Strong cash generating capability – Group EBITDA of AED 205m in H1 11 • Sukuk 06 (USD 200m) repaid on maturity • Management is focusing on building the business and creati
Slide 15: Q&A
IE et fl tubieed Q&A 15
Slide 16: Contact Details
Contact Details For further information please contact Suzanne Holt sholt@tabreed.com Kalpesh Shah kshah@tabreed.com +971 2 645 5007 16
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