Ctf Services Limited · HKEX:659

Ctf Services — NWS Holdings — FY2005 Earnings Presentation

37 slides from Ctf Services's earnings presentation, Oct 5, 2005

  1. Slide 1: Sustaining growth, building value – Annual Results 2005

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  2. Slide 2: New World Group Structure

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  3. Slide 3: NWSH Corporate Structure

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  4. Slide 4: Financial Highlights

    Financial Highlights

  5. Slide 5: Consolidated Financial Highlights

    Consolidated Financial Highlights 2005 2004 Change For the year ended 30 June (HK$M) +/ (-)% (HK$M) Turnover 10,286 12,553 (18) AOP 1,415 1,903 (26) Profit attributable to shareholders 2,918 1,538 90 Earnings per share HK$1.62 HK$0.86 88 Dividend per share HK$0.80 HK$0.40 100 Total assets 25,194 23,

  6. Slide 6: Key Financial Ratios

    Key Financial Ratios As at 30 June 2005 2004 Closing Price HK$11.3 HK$9.15 EPS HK$1.62 HK$0.86 Dividend Payout Ratio 50% 47% P/E 7 11 Dividend Yield 6.4%* - * Based on closing price of HK$12.55 as at 4 October 2005 5

  7. Slide 7: Stronger Financial Position

    Stronger Financial Position Net Debt 8.7 Ne (HK$ billion) tD eb 6.9 t - 71 % 4.6 2.5 Feb 03 Jun 03 Jun 04 Jun 05 ƒ Gearing ratio: 18% (30 June 2004: 44%) ƒ Cash on hand: HK$3.6 billion (2004: HK$3.5 billion ) ƒ Finance costs: Decreased by 27% to HK$205.5 million (2004: HK$280.8 million) ƒ Interest c

  8. Slide 8: AOP Mix (for the year ended June 2005)

    AOP Mix (for the year ended 30 June 2005) By Division By Region HK$465M HK$405M 33% 29% Service & Hong Kong Rental Infrastructure Mainland China and Macau HK$950M HK$1,010M 67% 71% Total: HK$1,415M 7

  9. Slide 9: EBITDA (for the year ended June 2005)

    EBITDA (for the year ended 30 June 2005) HK$553M Service & Rental Infrastructure HK$1,069M 8

  10. Slide 10: Infrastructure

    Infrastructure

  11. Slide 11: Infrastructure

    Infrastructure 3 power plants in Mainland China and Macau Energy 20 road and bridge projects in Guangdong, Guangxi, Shanxi, Tianjin and Wuhan; and one tunnel project in Roads Hong Kong 19 water treatment plants in Mainland China and Macau, one incineration plant in Mainland China and one Water landf

  12. Slide 12: AOP - Infrastructure

    AOP - Infrastructure 2005 2004 Change For the year ended 30 June (HK$M) (HK$M) +/ (-)% Energy 489.9 463.1 6 Roads 372.3 291.0 28 Water 80.6 66.3 22 Ports 67.4 185.8 (64) TOTAL 1,010.2 1,006.2 0.4 11

  13. Slide 13: Energy

    Energy ƒ AOP increased by 6% ƒ Zhujiang Power Phase I and II ( ) combined sales volume increased by 2% ƒ Macau Power ( 力) recorded 11% increase in sales volume ƒ Coal cost pass through policy effective May 2005 ƒ Significant GDP growth in Mainland China and Macau boosts demand for electricity 12

  14. Slide 14: Electricity Sales Growth

    Electricity Sales Growth Zhujiang Power Station - Phase I & II Macau Power ( ) ( 力) GWh GWh 2,000 % 8,500 +9 +9 % GR R CA 1,900 CA G 8,000 7,500 1,800 7,000 1,700 6,500 1,600 6,000 5,500 1,500 2003 2004 2005 2003 2004 2005 13

  15. Slide 15: Roads

    Roads ƒ AOP up 28%: Pearl River Delta projects performed remarkably ƒ Guangzhou City Northern Ring Road ( 北 路) : Toll income and traffic volume increased by 10% and 3% respectively ƒ Beijing-Zhuhai Expressway (Guangzhou-Zhuhai section) ( 路- ): Toll income and traffic volume increased by 15% and 14%

  16. Slide 16: Pearl River Delta Expressways Network

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  17. Slide 17: Average Daily Traffic Volume – Guangdong

    Average Daily Traffic Volume – Guangdong Average Daily Traffic Flow No. of vehicles (‘000) 290 280 270 16% + 260 R A G 250 C 240 230 220 210 200 2003 2004 2005 16

  18. Slide 18: Average Daily Traffic Volume - Tianjin

    Average Daily Traffic Volume - Tianjin Average Daily Traffic Flow No. of vehicles (‘000) 20 19 1 4% + 18 G R 17 CA 16 15 14 13 12 11 10 2003 2004 2005 17

  19. Slide 19: Length of Expressways in Mainland China

    Length of Expressways in Mainland China km 35,000 30,000 25,000 20,000 15,000 2000 2001 2002 2003 2004 Source: Ministry of Communications of the PRC 18

  20. Slide 20: Automobile Ownership in Mainland China

    Automobile Ownership in Mainland China No. of vehicles (million) 45 40 35 30 25 20 2000 2001 2002 2003 2004 Source: Ministry of Communications of the PRC and Statistical Survey of China 2005 19

  21. Slide 21: Water

    Water ƒ AOP increased by 22% ƒ Macau Water Plant ( ) sales volume up 3% ƒ Water project in Sanya City, Hainan ( ) made full year contribution ƒ Zhongshan Water Plants ( ) recorded impressive performance ƒ Tanggu Water Plant, Tianjin ( ) commenced operation in April 2005 ƒ Shanghai SCIP Water Treatme

  22. Slide 22: Water Sales Volume

    Water Sales Volume Water Plants in Mainland China Macau Water Plant Volume (million m3) 800 Volume (million m3) % +12 R 55 G +4% 760 CA R 54 CAG 720 53 52 680 51 50 640 49 600 48 2003 2004 2005 2003 2004 2005 21

  23. Slide 23: Ports

    Ports ƒ Gain on disposal of interests in CT3 and CT8W: HK$1.8 billion ƒ Xiamen New World Xiangyu Terminals ( ): AOP and throughput increased by 28% and 5% respectively ƒ Tianjin CSX Orient ( 陸 ): Dropped in throughput due to commencement of new terminal during the year ƒ Acquired 18% of Tianjin Five

  24. Slide 24: New Investments

    New Investments Infrastructure Projects Interest Status Length/ JV Period Investment Capacity (years) (HK$M) Guangzhou-Zhaoqing Expressway 25% Operational 108.37 km 33 232 路 Beijing-Zhuhai Expressway (Guangzhou-Zhuhai 15% Dec 2005 37 km 30 214 Northern Section) 路( 北 ) Pearl River Delta Ring Road (So

  25. Slide 25: New Investments (Cont’d)

    New Investments (Cont’d) Infrastructure Projects Interest Status Capacity JV Investment Period (HK$M) (years) Shanghai SCIP Water Treatment Plants 25% Operational Industrial water: 200,000 m3/day 50 N/A * 理 Waste water: 50,000 m3/day Tanggu Water Plant 25% Operational 310,000 m3/day 35 N/A * Chongqi

  26. Slide 26: Service & Rental

    Service & Rental

  27. Slide 27: AOP – Service & Rental

    AOP – Service & Rental 2005 2004 Change For the year ended 30 June (HK$M) (HK$M) +/ (-)% Facilities Rental 384.0 353.0 9 Contracting (253.2) 253.6 (200) Transport 65.6 65.7 - Others 208.4 224.8 (7) TOTAL 404.8 897.1 (55) 26

  28. Slide 28: Facilities Rental

    Facilities Rental ƒ AOP increased by 9% ƒ HKCEC achieved satisfactory results ƒ ATL recorded stable profit with average occupancy rate of 93% ƒ HKCEC Atrium extension: ƒ Expected to commence in January 2006 and complete by 2009 ƒ Exhibition space increases by 30% 27

  29. Slide 29: Contracting

    Contracting ƒ Profit of HK$62.8 million excluding provisions for major projects ƒ Fierce competition with slim profit margin ƒ Secured HK$7 billion contracts from Macau ƒ Contracts on-hand: HK$17.7 billion ƒ Continue to secure new contracts in Macau and Mainland China 28

  30. Slide 30: New Contracts Secured

    New Contracts Secured Contracting projects in Macau Target Completion - Holiday Inn Hotel ( ) Nov 2005 - Emperor Hotel / Casino ( 樂 ) Dec 2005 - MGM Grand Paradise ( ) July 2007 - Grand Lisboa Hotel and Casino ( ) Dec 2007 - Arc de Triomphe ( ) Jan 2009 Total Contract Sum : HK$7 billion 29

  31. Slide 31: Transport

    Transport ƒ AOP remained stable ƒ Surge of fuel cost hindered profitability ƒ New rail extensions post competition ƒ Synergies from realignment of New World First Bus and Citybus ƒ Kunming New World First Bus ( ): Attained stable income with passenger volume increased by 13% ƒ NWFF has applied for f

  32. Slide 32: Other Services

    Other Services ƒ Stable cash and profit contribution from various businesses − Property Management − Cleaning & Guarding − Financial Services − Duty Free Sales 31

  33. Slide 33: Hunghom Peninsula Property Project

    Hunghom Peninsula Property Project ƒ 50/50 JV with Sun Hung Kai Properties ƒ Residential GFA 1.55 million sq ft ƒ Renovate and reconfigure residential units ƒ Clubhouse to be added 32

  34. Slide 34: Corporate Strategies

    Corporate Strategies ƒ Continue to seek long-term growth and sustain profitability ƒ Keep promises to enhance shareholder value and maintain healthy capital structure ƒ Uphold service excellence and corporate branding ƒ Promote corporate social responsibility 33

  35. Slide 35: Achievements by Group Companies

    Achievements by Group Companies ƒ Asia Pacific PR Awards 2004 (NWSH) ƒ Mercury Awards 2004 (NWSH) ƒ Asia’s Leading Conference Centre 2004 (HKCEC) ƒ Quality Building Award 2004 (Hip Hing Construction) ƒ Best Employers in Asia 2005 (Urban Property Management) ƒ Quality Service Terminal 2004 (Xiamen Ne

  36. Slide 36: Responsible Corporate Citizen

    Responsible Corporate Citizen

  37. Slide 37: —_ MAZE BARA

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NWS Holdings — FY2005 Earnings Presentation on 6ix