Ctf Services Limited · HKEX:659
Ctf Services — NWS Holdings — H1 FY2012 Earnings Presentation
30 slides from Ctf Services's earnings presentation, Feb 28, 2012
Slide 1: FY2012 Interim Results
FY2012 Interim Results
Slide 2: New World Group Structure
New World Group Structure 新世界發展有限公司 New World Development Company Limited (香港股份代號 : 17) (HK stock code: 17) 69.8% 60.4% 72.3% 新世界中國地產有限公司 新世界百貨中國有限公司 New World China Land 新創建集團有限公司 New World Department Limited Store China Limited (香港股份代號: 917) NWS Holdings Limited (香港股份代號 :825) (HK stock code: 825)
Slide 3: NWS Investment Portfolio
NWS Investment Portfolio Infrastructure Services 基建 服務 Roads 道路 Facilities Management 設施管理 Energy 能源 Construction & Transport Water 建築及交通 水務 Ports & Logistics Strategic Investments 港口及物流 策略性投資 3
Slide 4: Financial Highlights
—— an all 3 NWS Financial Highlights
Slide 5: Financial Summary
Infrastructure Services Financial Summary For the six months ended 2011 2010 Change 31 December (HK$’m) (HK$’m) + / (-)% Revenue 6,941.9 4,734.0 47 Attributable Operating Profit 1,972.4 2,213.9 (11) (AOP) Profit Attributable to 3,423.1 2,391.2 43 Shareholders Earnings per share HK$1.01 HK$0.73 38 Di
Slide 6: Financial Position
Infrastructure Services Financial Position Total cash and bank balances: HK$7.8 billion Total debt: HK$19.6 billion Net debt position: HK$11.9 billion Net gearing: 34% (As at 31 December 2011) 6
Slide 7: Infrastructure Services AOP
Infrastructure Services AOP For the six months ended 31 December By Division By Region HK$'M HK$'M 2,500 2,500 2,000 2,000 953 1,045 (43%) 916 (47%) 1,018 1,500 1,500 (46%) (52%) 1,000 1,000 1,261 1,169 1,056 954 500 (57%) 500 (53%) (54%) (48%) 0 0 2010 2011 2010 2011 Services Hong Kong 7 Infrastruc
Slide 8: AOP by Segment
Infrastructure Roads Energy Water Ports & Logistics AOP by Segment For the six months ended 2011 2010 Change % 31 December (HK$’m) (HK$’m) Fav./(Unfav.) Roads 613.3 748.1 (18) Energy 90.1 192.2 (53) Water 200.5 168.4 19 Ports & Logistics 152.5 152.0 0 Total: 1,056.4 1,260.7 (16) 8
Slide 9: AOP by Segment
Services Facilities Management Construction & Transport Strategic Investments AOP by Segment For the six months ended 2011 2010 Change % 31 December (HK$’m) (HK$’m) Fav./(Unfav.) Facilities Management 578.3 404.3 43 Construction & Transport 182.9 149.8 22 Strategic Investments 154.8 399.1 (61) Total
Slide 10: Infrastructure: Roads, Energy
Infrastructure Roads Energy Water Ports & Logistics 10
Slide 11: Infrastructure Projects as at December 2011
Infrastructure Roads Energy Water Ports & Logistics As at 31 December 2011 Roads and related projects in 20 Guangdong, Guangxi, Shanxi, Zhejiang and Tianjin Roads 1 Tunnel project in Hong Kong 4 Power plants in the PRC and Macau 1 Coal distributor in Guangzhou Energy Water treatment projects in the
Slide 12: AOP - Roads
Infrastructure Roads Energy Water Ports & Logistics AOP - Roads For the six months ended 31 December HK$'M 800 748 700 613 600 515* 500 416* 400 300 *AOP of Roads segment 200 without extra profit distribution for Tangjin Expressway 100 (Tianjin North Section) 0 2010 2011 12
Slide 13: Highlights – Roads
Infrastructure Roads Energy Water Ports & Logistics Highlights – Roads Hangzhou Ring Road 杭州繞城 杭州繞城公路 繞城公路 has started to contribute Tangjin Expressway (Tianjin North Section) 唐津高速公路(天津 高速公路 天津北 天津北段) Traffic up 11% Guangzhou City Northern Ring Road 廣州市北環 廣州市北環高速公路 北環高速公路 Traffic up 15% Other projec
Slide 14: AOP - Energy
Infrastructure Roads Energy Water Ports & Logistics AOP - Energy For the six months ended 31 December HK$'M 250 200 192 150 100 90 50 0 2010 2011 14
Slide 15: Highlights – Energy
Infrastructure Roads Energy Water Ports & Logistics Highlights – Energy Zhujiang Power Plants 珠江電廠 Sales dropped by 8% Fuel cost up 3% Chengdu Jintang Power Plant 成都金堂 成都金堂電廠 金堂電廠 Sales up 6% Fuel cost up 36% Tariff increase in Mainland China from Dec 2011 Zhujiang Power Plants 6.5% Chengdu Jintang
Slide 16: AOP - Water
Infrastructure Roads Energy Water Ports & Logistics AOP - Water For the six months ended 31 December HK$'M 250 201 200 168 150 100 50 0 2010 2011 16
Slide 17: Highlights – Water
Infrastructure Roads Energy Water Ports & Logistics Highlights – Water Mainland China projects reported healthy sales volume growth Chongqing Water Plant up 10% Sanya Water Plant up 7% Shanghai SCIP Water Treatment Plants (waste water) up 10% Chongqing Tangjiatuo Waste Water Plant up 8% Macau Water
Slide 18: AOP – Ports & Logistics
Infrastructure Roads Energy Water Ports & Logistics AOP – Ports & Logistics For the six months ended 31 December HK$'M 200 152 153 150 100 50 0 2010 2011 18
Slide 19: Highlights – Ports & Logistics
Infrastructure Roads Energy Water Ports & Logistics Highlights – Ports & Logistics Ports projects reported healthy throughput growth Xiamen New World Xiangyu Terminals 廈門象嶼新創建 廈門象嶼新創建碼頭 象嶼新創建碼頭 up 33% Tianjin Orient Container Terminals 天津東方海陸集裝箱 天津東方海陸集裝箱碼頭 東方海陸集裝箱碼頭 up 3% Tianjin Five Continents In
Slide 20: Highlights – Ports & Logistics (continued)
Infrastructure Roads Energy Water Ports & Logistics Highlights – Ports & Logistics (continued) China Rail Container Terminals Project (CUIRC) Phase 1 of 8 completed rail container terminals provides an initial national network Phase 2 development is in progress, in particular Tianjin / Harbin / Urum
Slide 21: Highlights – Ports & Logistics (continued)
Infrastructure Roads Energy Water Ports & Logistics Highlights – Ports & Logistics (continued) Robust Business Growth Strong throughput growth of 27% Continuous business development in individual terminals, in particular Kunming and Chongqing Other 6 operational terminals undergoing their ramp up pe
Slide 22: Services: Facilities Management, Construction & Transport, Strategic Investments
Services Facilities Management Construction & Transport Strategic Investments 22
Slide 23: AOP – Facilities Management
Services Facilities Management Construction & Transport Strategic Investments AOP – Facilities Management For the six months ended 31 December HK$'M 600 578 500 404 400 300 200 100 0 2010 2011 23
Slide 24: Highlights – Facilities Management
Services Facilities Management Construction & Transport Strategic Investments Highlights – Facilities Management Better performance by Free Duty due to increase in number of visitors Traveller volume up 7% through Lo Wu, Lok Ma Chau, Hung Hom and HKIA in 1H FY2012 HKCEC recorded solid performance 63
Slide 25: AOP – Construction & Transport
Services Facilities Management Construction & Transport Strategic Investments AOP – Construction & Transport For the six months ended 31 December HK$'M 200 183 150 150 100 50 0 2010 2011 25
Slide 26: Highlights – Construction & Transport
Services Facilities Management Construction & Transport Strategic Investments Highlights – Construction & Transport Construction Gross contract-on-hand: HK$21.1 billion Remaining value: HK$14.2 billion Transport Fuel cost increased by 36% continued to affect profitability Disposal gain from sale of
Slide 27: AOP – Strategic Investments
Services Facilities Management Construction & Transport Strategic Investments AOP – Strategic Investments For the six months ended 31 December HK$'M 399 400 300 200 155 100 0 2010 2011 27
Slide 28: Highlights – Strategic Investments
Services Facilities Management Construction & Transport Strategic Investments Highlights – Strategic Investments This segment comprises of: Tricor Holdings Limited Haitong International Securities Project Hyva Newton Resources Other securities investments AOP dropped due to market volatility and red
Slide 29: Outlook
Infrastructure Services Outlook Acquisition of Hangzhou Ring Road 杭州繞城 杭州繞城公路 繞城公路 completed in January 2012 (95% effective interest) Strong financial status Well-balanced and defensive portfolio Continue to look for high-quality investment opportunities 29
Slide 30: Q&A
i an all 3 NWS Q&A