National Central Cooling Co. (p.s.c.) (tabreed) · DFM:TABREED
National Central Cooling Co. (p.s.c.) (tabreed) — National Central Cooling Company PJSC (Tabreed) — H1 2020 Earnings Presentation
17 slides from National Central Cooling Co. (p.s.c.) (tabreed)'s earnings presentation, Jul 26, 2020
Slide 1: National Central Cooling Company PJSC H1 2020 Earnings Presentation
National Central Cooling Company PJSC (DFM:TABREED) H1 2020 Earnings Presentation 26 July 2020
Slide 2: Disclaimer
Disclaimer • These materials have been prepared by and are the sole responsibility of the • No person is authorized to give any information or to make any representation National Central Cooling Company PJSC, ‘Tabreed’ (the “Company”). These not contained in and not consistent with these materials a
Slide 3: Agenda
Agenda 1. Introduction and Performance Highlights 2. Financial Results 3. Conclusion NATIONAL CENTRAL COOLING COMPANY PJSC 3
Slide 4: 1. Introduction and Performance Highlights
1. Introduction and Performance Highlights
Slide 5: Performance Highlights and Corporate Developments
Performance Highlights Financial Highlights: H1 2020 vs. H1 2019 AED 681m AED 710m AED 415m AED 224m +7.4% +5.7% +13.5% +12.5% Chilled Water Revenue Total Revenue EBITDA Net Income Performance Highlights and Corporate Developments • Chilled Water revenue grew 7.4%. Total Revenue increased by 5.7% Pe
Slide 6: Tabreed at a Glance
Tabreed at a Glance One of the world’s largest district cooling companies 83 Equivalent to cooling plants in 1.34m RT 135 5 countries delivered to clients towers the size of Burj Khalifa Environmentally responsible operations reducing green house gas emissions 2.06 billion kWh 1.23 million tons annu
Slide 7: Regional Presence
Regional Presence The only publicly listed and regional district cooling company in the world National Central Cooling Company and its UAE investments • 5 GCC countries | 83 plants | 1.34m tons of cooling • 62 consolidated plants, 8 held through associates and joint ventures • Plants in 6 emirates o
Slide 8: Connected Capacity
Connected Capacity • Previously announced capacity guidance of 75,000 RT to be added over 2020 and 2021 • Acquisition of Dubai Downtown in April 2020 added another 150,000 RT Consolidated Q2 2019 Q3 2019 Q4 2019 Q1 2020 Q2 2020 UAE 708 708 724 871* 872* Bahrain 27 27 28 32 32 Oman 32 32 32 32 32 Tot
Slide 9: Headline Performance
Headline Performance UAE Other • Providing over 1.34m RT of cooling across GCC – grown at Long-term 7% CAGR since 2017 Group Connected 1,343 Capacity (kRT) contracts with • Long term contracts (~25 years) mean over 90% of 1,084 1,122 1,146 399 credit worthy contracted capacity locked in for at least
Slide 10: 2. Financial Results
fl tabreed Sustainable Cooling 2. Financial Rest
Slide 11: Income Statement
Income Statement Consolidated Financials (AED m) H1 2020 H1 2019 Variance % Revenue 710 672 38 5.7% Chilled water revenue (96%) 681 634 46.7 7.4% Value chain businesses (4%) 29 38 (9) -23.1% Operating cost (346) (322) (24) 7.4% Gross Profit 364 350 14 4.1% Gross profit margin 51.3% 52.1% Administrat
Slide 12: Financial Position
Financial Position Consolidated Financials (AED m) Jun 30, 2020 Dec 31, 2019 Variance % Fixed Assets 10,369 7,317 3,052 42% Associates and Joint Ventures 705 732 (27) -4% Accounts Receivable 756 593 162 27% Cash and Short Term Deposits 311 227 84 37% Other Assets 43 35 8 23% Total Assets 12,183 8,90
Slide 13: Cash Flow Statement
Cash Flow Statement Consolidated Financials (AED m) H1 2020 H1 2019 Variance % Profit from Operations 253 245 7 3% Finance lease amortization (21) 29 (50) -172% Depreciation 91 92 (1) -1% Amortization 11 - - - Working Capital and other adjustments (23) (16) (6) 39% Net cash flows from Operating Acti
Slide 14: Debt Portfolio and Return Ratios
Debt Portfolio and Return Ratios • Current gearing of 51% (vs. 39% in Dec 2019); Increase in debt in 2020 due to financing of AED 2.5bn for Downtown DCP • No significant debt repayments until the Sukuk matures and new acquisition term loan bullet becomes due in 2025 • However, the robust cash flow p
Slide 15: 3. Conclusion
fl tabreed Sustainable Cooling 3. Conclusion)
Slide 16: Unique GCC-wide Infrastructure Assets Company
Unique GCC-wide Infrastructure Assets Company Why District • District Cooling is a critical part of the growing GCC infrastructure Cooling? • District Cooling is 50% more energy efficient than conventional cooling and 16% cheaper for the customer • One of the largest district cooling companies in th
Slide 17: Contact Us
Contact Us Bijay Sharma Churchgate Partners Email: Tabreed@churchgatepartners.com Richard Rose Salik Malik SVP, Finance Head, Financial Planning & Analysis Tel: +971 2 2020400 Tel: +971 2 2020397 Email: IR@tabreed.ae Email: SMalik@tabreed.ae NATIONAL CENTRAL COOLING COMPANY PJSC
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