Kuwait Projects Company Holding (K.S.C.P.) · KSE:KPROJ
Kuwait Projects Company Holding (K.S.C.P.) — Kuwait Projects Company Holding (KIPCO) — Investor Presentation (March 2015)
15 slides from Kuwait Projects Company Holding (K.S.C.P.)'s investor presentation, March 2015
Slide 1: Growing in Strength
Growing in Strength Investor Presentation | March, 2015 1
Slide 2: Disclaimer
Disclaimer This presentation is not an offer or invitation to subscribe to or purchase any securities. No warranty is given as to the accuracy or completeness of the information in this presentation. You must make your own independent investigation and appraisal of the business and financial conditi
Slide 3: Expectations met...
Male(=>.4 Expectations met...
Slide 4: KIPCO's strength
KIPCO’s strength 3 pillars of KIPCO’s strength... I. II. III. Operating Low Strong Profit Leverage Liquidity Growth 4
Slide 5: I. KIPCO – Growth continues…
I. KIPCO – Growth continues… We expected double digit growth for 2013-16… In KD mn 2013 2014 Growth 514 598 16% REVENUE * NET PROFIT 40 46 15% 5 * Revenue from continuing operations
Slide 6: ...driven by growth in core companies
...driven by growth in core companies Growth 2014 Revenue Net Profit Revenue Net Profit 9% 207% 24% 66% 11%# 18% 23% (30%) 163%* 628% 173%^ 22%^ 6 # Gross Premium Written. * Includes effect of FIMBank consolidation. ^Revenue is defined as sales + dividend income + share of associates. Numbers are ba
Slide 7: II. Low leverage…
II. Low leverage… Lower dependence on debt, less than 30% of assets are financed by debt KD mn KD mn 7 * Net debt is defined as net debt of KIPCO parent and Group entities excluding deposits and inter-bank borrowings of banking subsidiaries # Includes aggregation of KIPCO Group investments in subsid
Slide 8: …with healthy portfolio returns < cost of debt
…with healthy portfolio returns Portfolio return^ KD mn 67% # 10% 7% < cost of debt 33% 8 * Includes aggregation of KIPCO Group investments in subsidiaries, associates and other investments. ^ Return is defined as net profit divided by average carrying value of investment in respective entities. #Re
Slide 9: III. Strong liquidity...
III. Strong liquidity... To repay maturing debts... Average debt maturity Debt maturing after 4 years in cash and bank balances as of December 2014 9
Slide 10: ...and KIPCO track record continues
...and KIPCO track record continues 10
Slide 11: Outlook 2014-18
Index Outlook 2014-18 11
Slide 12: KIPCO group becoming stronger from 2014-18…
KIPCO group becoming stronger from 2014-18… underlying operating profit growth lower cost of debt Stability of management team 12
Slide 13: OSN update
Index OSN update 13
Slide 14: OSN update
OSN update Subscribers 2.5x EBITDA 16% Revenues 2.2x Profit 66% 14
Slide 15: Thank you
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