National Central Cooling Co. (p.s.c.) (tabreed) · DFM:TABREED
National Central Cooling Co. (p.s.c.) (tabreed) — National Central Cooling Co. (Tabreed) — H1 2017 Earnings Presentation
16 slides from National Central Cooling Co. (p.s.c.) (tabreed)'s earnings presentation, Jul 27, 2017
Slide 1: National Central Cooling Co. H1 2017 Earnings Call
National Central Cooling Co. (DFM:TABREED) H1 2017 Earnings Call 27 July 2017
Slide 2: Disclaimer
Disclaimer • These materials have been prepared by and are the sole responsibility of the • The merits or suitability of any securities to any investor's particular situation should National Central Cooling Company PJSC, ‘Tabreed’ (the “Company”). These be independently determined by such investor.
Slide 3: Agenda
Agenda A | Introduction and Performance Highlights – Jasim Thabet, CEO B | Financial Results – Steve Ridlington, CFO C | ENGIE Transaction and Conclusion – Jasim Thabet, CEO NATIONAL CENTRAL COOLING COMPANY (PJSC)
Slide 4: Building on the strong start to 2017
Tabreed – H1 2017 earnings call 4 Building on the strong start to 2017 Chilled water • Net Profit increased by 20% driven mainly by chilled water business across the region segment driving • Consolidated capacity increased by over 68kRT (10%) in the second half of 2016 resulting in the double-digit
Slide 5: Tabreed at a glance
Tabreed – H1 2017 earnings call 5 Tabreed at a glance One of the world’s largest district cooling companies 72 Approaching 1.1m RT Equivalent to cooling plants in 5 countries delivered to clients 108 towers the size of Burj Khalifa Environmentally responsible operations reducing green house gas emis
Slide 6: The only listed DC Company and operating across the region
Tabreed – H1 2017 earnings call 6 The only listed DC Company and operating across the region 5 GCC Countries | 72 Plants | Approaching 1.1m tons of cooling • Only listed DC company in GCC markets • Uniform utility infrastructure model implemented across GCC • Long term contracts underpinning stabili
Slide 7: Headline Performance
Tabreed – H1 2017 earnings call 7 Headline Performance UAE Govt • Providing over 1.1m RT of cooling across GCC– growing 5% annually since 2014 +5% p.a. Long-term Group Connected Capacity 1,084 926 953 980 • Consolidated capacity increase of 10% and equity accounted capacity of 11% y-o-y contracts wi
Slide 8: Agenda
Agenda A | Introduction and Performance Highlights – Jasim Thabet, CEO B | Financial Results – Steve Ridlington, CFO C | ENGIE Transaction and Conclusion – Jasim Thabet, CEO NATIONAL CENTRAL COOLING COMPANY (PJSC)
Slide 9: Financial Highlights: Income Statement
Tabreed – H1 2017 earnings call 9 Financial Highlights Income Statement Consolidated Financials (AED m) H1 2017 H1 2016 Variance % Revenue 639 579 61 +10% Chilled water revenue (94%) 602 516 86 +17% Value chain businesses (6%) 37 63 (26) -41% Operating cost (327) (295) (31) +11% Gross Profit 313 283
Slide 10: Financial Highlights: Financial Position
Tabreed – H1 2017 earnings call 10 Financial Highlights Financial Position Consolidated Financials (AED m) Jun 30, 2017 Dec 31, 2016 Variance % Fixed Assets 6,937 6,977 (39) -1% Investments in associates and JVs 831 826 5 +1% Accounts Receivable 523 409 114 +28% Cash and Short Term Deposits 500 390
Slide 11: Financial Highlights: Cash flow Statement
Tabreed – H1 2017 earnings call 11 Financial Highlights Cash flow Statement Consolidated Financials (AED m) H1 2017 H1 2016 Variance % Profit from Operations 211 186 25 +14% Finance lease amortization 28 28 0 +0% Depreciation 69 62 7 +12% Working Capital and Other adjustments (25) (17) (8) +45% Net
Slide 12: Debt portfolio; New Islamic Financing improves financial flexibility
Tabreed – H1 2017 earnings call 12 Debt portfolio; New Islamic Financing improves financial flexibility • Management’s strategy has been to match debt tenors to asset life • During Q2, Tabreed refinanced AED 1bn of existing corporate debt via a receivables-based contract financing whilst securing AE
Slide 13: Agenda
Agenda A | Introduction and Performance Highlights – Jasim Thabet, CEO B | Financial Results – Steve Ridlington, CFO C | ENGIE Transaction and Conclusion – Jasim Thabet, CEO NATIONAL CENTRAL COOLING COMPANY (PJSC)
Slide 14: ENGIE – global energy leader and now a strategic shareholder in Tabreed
14 Tabreed – H1 2017 earnings call ENGIE – global energy leader and now a strategic shareholder in Tabreed • Mubadala became the majority shareholder of Tabreed in 2011 after the recapitalization, investing AED 3.1bn in the company • Tabreed has successfully completed its turn around into a profitab
Slide 15: Unique GCC-wide infrastructure assets company
Tabreed – H1 2017 earnings call 15 Unique GCC-wide infrastructure assets company • District Cooling is a critical part of the growing GCC infrastructure Why District • District Cooling is 50% more efficient in consuming electricity than conventional cooling reducing energy consumption, carbon Coolin
Slide 16: Contact us
Contact us Saket Somani Churchgate Partners Tel: +971 4 3132432 Email: Tabreed@churchgatepartners.com Richard Rose Leila Al Marashi VP – Finance VP – Corporate Communications Tel: +971 2 2020400 Tel: +971 2 2020399 Email: IR@tabreed.ae Email: LAlmarashi@tabreed.ae Management looks forward to engagin
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