National Central Cooling Co. (p.s.c.) (tabreed) · DFM:TABREED
National Central Cooling Co. (p.s.c.) (tabreed) — National Central Cooling Company PJSC (Tabreed) — FY2014 Earnings Presentation
15 slides from National Central Cooling Co. (p.s.c.) (tabreed)'s earnings presentation, Jan 21, 2015
Slide 1: Q4 2014 Results Presentation
National Central Cooling Company PJSC 21 January 2014 Q4 2014 Results Presentation
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 21 January 2014. By attending the m
Slide 3: Agenda
Agenda • Our Story • Headline Performance • Operational and Financial Highlights • Chilled Water Performance • Debt Refinancing • 2014 Recap • Summary 3
Slide 4: Our Story
Our Story One of World’s Largest District Cooling Company Iconic Projects 69 Plants in the GCC …delivering 957,000 RT …equivalent to cooling 254,000 RT growth in 96 Burj Khalifa towers connections since 2012 ..of cooling to our clients High Contributor to the Environment Energy Efficiency Eliminatio
Slide 5: Headline Performance
Headline Performance • 36% of UAE capacity contracted to UAE Government clients Overseas Non Government Government Long-term 703 767 839 957 252 203 stable customer • 11% growth in capacity since 2011 138 155 AED m 299 338 361 449 base • 141,000 RT increase in UAE capacity contracted since 2011 266
Slide 6: Operational Highlights
Operational Highlights Gross Capacity (kRT) Group Revenue (AED m) Value Chain Business Chilled Water 3% Chilled water +11% 957 839 118 73 96 767 171 703 1,011 1,027 1,035 944 2011 2012 2013 2014 2011 2012 2013 2014 Gross Profit (AED m) Group EBITDA (AED m) CAGR +5% +7% 534 501 508 535 502 510 460 43
Slide 7: Financial Highlights – Income Statement
Financial Highlights – Income Statement Unaudited Consolidated Financials (AED m) 2014 2013 Revenue 1,130.6 1,100.2 3% increase in revenue Chilled Water (93% of revenue) 1,034.6 1,027.4 Value Chain Businesses (7% of revenue) 96.0 72.8 Operating Costs (597.0) (592.1) 5% increase in gross profit Gross
Slide 8: Financial Highlights – Balance Sheet
Financial Highlights – Balance Sheet Unaudited Consolidated Financials (AED m) 2014 2013 Fixed Assets 6,679.4 6,633.0 24% increase, mainly as a result of Associates and Joint Ventures 650.9 524.5 equity investment in Al Maryah Island concession and Saudi Tabreed. Accounts Receivable 253.0 240.7 Othe
Slide 9: Financial Highlights – Cashflow
Financial Highlights – Cashflow Unaudited Consolidated Financials (AED m) 2014 2013 5% year on year growth led by EBITDA for the period 535.0 510.1 new UAF finance leases Finance Income relating to Finance Lease receivable (171.6) (121.7) Lease Rentals received 206.5 125.4 Working Capital Adjustment
Slide 10: 2014 Chilled Water Performance
2014 Chilled Water Performance Gross Capacity (kRT) Revenue (AED m) Other Group UAE CAGR +3% 1,011 1,027 1,035 CAGR +11% 944 252 203 155 138 705 565 612 636 2011 2012 2013 2014 2011 2012 2013 2014 Chilled ChilledWater Water UAE Qatar Saudi Other Total Profit from Operations (AED m) (AED (AEDm)m) UAE
Slide 11: Refinancing Highlights
Refinancing Highlights – Refinancing of Tabreed’s existing debt facilities announced in December 2014. Refinancing – The refinancing has been consolidated into a smaller subset from Tabreed’s existing syndicate of banks, with ADCB, Background FGB and Mashreq Bank acting as Mandated Lead Arrangers. –
Slide 12: 2014 Key Achievements
2014 Key Achievements Re-financing of AED 2.6 bn of 45.6kRT loans with concession increased Acquisition of signed with tenor and up a 30 year Meraas for to 25% Contract concession on Dubai Parks reduction in signed with Al Maryah development margin New UAE University Island in scheduled for Agreemen
Slide 13: Summary
Summary • Air conditioning is an absolute necessity in the GCC Why District • District Cooling enables a 50% reduction in energy consumption and carbon footprint Cooling? • District Cooling is 16% cheaper than conventional cooling • Tabreed is the largest utility infrastructure business offering coo
Slide 14: Q&A
aliens 7 = ae tabreed Q&A 14
Slide 15: Contact Details
Contact Details For further information please contact Salam Kitmitto Communications Director skitmitto@tabreed.ae +971 2 645 5007 ext. 692 Faisal Tahir Bhatti Senior Analyst – Strategic Finance Fbhatti@tabreed.ae +971 2 645 5007 ext. 483 15
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