Ctf Services Limited · HKEX:659

Ctf Services — NWS Holdings — H1 FY2017 Earnings Presentation

33 slides from Ctf Services's earnings presentation, Feb 21, 2017

  1. Slide 1: FY2017 Interim Results

    FY2017 Interim Results Strategic Focus Balanced Growth

  2. Slide 2: Financial Summary

    Financial Summary For the six months 2016 2015 Change ended 31 December (HK$’M) (HK$’M) (%) Revenue 13,846.0 14,224.4 3 Attributable Operating Profit (AOP) 2,519.4 2,398.2 5 Profit Attributable to 2,600.1 2,354.3 10 Shareholders (PAT) Basic Earnings per share (HK$) 0.68 0.62 10 Dividend per share (H

  3. Slide 3: Financial Position

    Financial Position As at As at 31 Dec 2016 30 Jun 2016 (HK$’M) (HK$’M) Total cash and bank balances 10,021 8,924 Total debt 15,357 15,065 Net debt position 5,336 6,141 Net gearing ratio 12% 13% 3

  4. Slide 4: NWS Investment Portfolio

    NWS Investment Portfolio Infrastructure Services 基建 服務 Roads Facilities Management 道路 設施管理 Environment 環境 Construction & Transport Logistics 建築及交通 物流 Strategic Investments Aviation 策略性投資 航空 4

  5. Slide 5: Attributable Operating Profit

    Attributable Operating Profit By Segment By Region HK$’M HK$’M 3,000 3,000 2,519 2,519 2,500 2,398 2,500 2,398 2,000 1,469 1,524 2,000 1,326 1,248 (61%) (61%) (55%) (50%) 1,500 1,500 1,000 1,000 929 995 1,072 1,271 500 (39%) (39%) 500 (45%) (50%) 0 0 2015 2016 2015 2016 Infrastructure Hong Kong Serv

  6. Slide 6: Infrastructure

    Infrastructure Roads Environment Logistics Aviation 6

  7. Slide 7: Infrastructure

    Infrastructure Roads and related projects in Guangdong, 16 Guangxi, Shanxi, Zhejiang and Tianjin Roads 1 Tunnel project in Hong Kong Environmental project across Hong Kong, 1 Macau, Taiwan and the PRC 2 Strategic investments in Chongqing Environment 3 Power plants in the PRC 1 Coal distributor in Gu

  8. Slide 8: AOP by Segment

    Infrastructure AOP by Segment For the six months 2016 2015 Change ended 31 December (HK$’M) (HK$’M) (%) Roads 733.2 620.2 18 Environment 256.4 261.5 2 Logistics 316.1 348.1 9 Aviation 219.0 239.5 9 Total 1,524.7 1,469.3 4 8

  9. Slide 9: Roads AOP

    Infrastructure Roads AOP – Roads For the six months ended 31 Dec HK$’M 800 (+18%) 29% 700 600 1HFY17 AOP 500 400 26% 620 733 300 1HFY16 AOP 200 100 0 2015 2016 9

  10. Slide 10: Highlights – Roads

    Infrastructure Roads Highlights – Roads  Overall traffic growth up 12% (Guangdong projects up 15%)  Hangzhou Ring Road 杭州繞城公路  Full period contribution as a wholly-owned subsidiary  Toll revenue up 5% with rising goods vehicle patronage  Shenzhen Huizhou Expressway 深圳惠州高速公路  Widening works com

  11. Slide 11: Environment AOP

    Infrastructure Environment AOP – Environment For the six months ended 31 Dec HK$’M 300 10% (-2%) 1HFY17 AOP 200 11% 262 256 100 1HFY16 AOP 0 2015 2016 11

  12. Slide 12: Highlights – Environment

    Infrastructure Environment Highlights – Environment  Sino-French Water 中法水務  Revenue up 7%  Water projects treatment volume up 3%  Chongqing Derun Environment 重慶德潤環境  Share of earnings from Chongqing Water Group (SH: 601158) decreased partly due to dilution effect  Energy AOP remained stable 

  13. Slide 13: Highlights – Environment (Cont’d)

    Infrastructure Environment Highlights – Environment (Cont’d)  SUEZ NWS Limited  Net asset value of HK$8 billion after the restructure of Sino-French JV and asset injections  57 projects in Hong Kong, Macau, Taiwan and the PRC (35 existing and 22 new)  NWS effective interest 42%  Full spectrum o

  14. Slide 14: Logistics AOP

    Infrastructure Logistics AOP – Logistics For the six months ended 31 Dec HK$’M 400 13% (-9%) 300 1HFY17 AOP 200 14% 348 316 1HFY16 AOP 100 0 2015 2016 14

  15. Slide 15: Highlights – Logistics

    Infrastructure Logistics Highlights – Logistics  ATL Logistics Centre  97.2% occupancy rate  Average rental up 5% ATL Logistics Centre  NWS Kwai Chung Logistics Centre  Disposal completed in Aug 2016 15

  16. Slide 16: Highlights – Logistics (Cont’d)

    Infrastructure Logistics Highlights – Logistics (Cont’d)  Xiamen Container Terminal Group 廈門集裝箱碼頭集團  Throughput up 6%  Steady growth momentum backed by strong market position  Tianjin port projects combined throughput up 8%  Steady recovery after explosion incident in Aug 2015 Xiamen Container

  17. Slide 17: Highlights – Logistics (Cont’d)

    Infrastructure Logistics Highlights – Logistics (Cont’d) Terminals in operation Kunming Qingdao  China United Int’l Rail Containers (CUIRC) • • Chongqing • • Wuhan • Chengdu • Xian  Throughput up 34% reflecting growing demand • Zhengzhou • Dalian for break-bulk cargo (批量快運) and Terminals under tri

  18. Slide 18: Aviation AOP

    Infrastructure Aviation AOP – Aviation For the six months ended 31 Dec HK$’M 300 9% (-9%) 1HFY17 AOP 200 10% 240 219 100 1HFY16 AOP 0 2015 2016 18

  19. Slide 19: Highlights – Aviation

    Infrastructure Aviation Highlights – Aviation  Beijing Capital International Airport 北京首都國際機場  Passenger throughput up 6%  Continuous rise in international passengers  Aeronautical revenue up 5% in 1H2016 BCIA 19

  20. Slide 20: Highlights – Aviation (Cont’d)

    Infrastructure Aviation Highlights – Aviation (Cont’d)  Goshawk Aviation Limited (Goshawk)  Fleet size of 76 (AUM USD3 billion)  Young fleet (average 4 years) with long leases attached (average 7 years)  Equity interest increased from 40% to 50% in Oct 2016 No. of aircraft 80 76 60 53 40 27 20 0

  21. Slide 21: Goshawk portfolio

    Infrastructure Aviation Highlights – Aviation (Cont’d) Others  Goshawk’s portfolio as at 31 Dec 2016 3% Others 8% America 13% Australia B737 7% 36% Asia A320 Europe 55% 56% 22% Aircraft type Geographical Spread Feb 2015 Dec 2015 Dec 2016 No. of aircraft 27 53 76 No. of lessees 15 22 33 No. of count

  22. Slide 22: Highlights – Aviation (Cont’d)

    Infrastructure Aviation Highlights – Aviation (Cont’d)  Bauhinia Aviation Capital Limited  Fleet size of 4 (first delivery in Nov 2016)  Equity interest 40% (CTFE 40%; Aviation Capital Group 20%)  Immediate AOP contribution in 1HFY2017 22

  23. Slide 23: Services

    Services HKCEC Free Duty Shops Construction Transportation 23

  24. Slide 24: Services AOP by Segment

    Services AOP by Segment For the six months 2016 2015 Change Ended 31 December (HK$’M) (HK$’M) (%) Facilities Management 258.9 369.5 30 Construction & Transport 533.6 492.4 8 Strategic Investments 202.2 67.0 202 Total 994.7 928.9 7 24

  25. Slide 25: Facilities Management AOP

    Services Facilities Management AOP – Facilities Management For the six months ended 31 Dec HK$’M 400 10% 300 1HFY17 AOP (-30%) 200 15% 370 259 1HFY16 AOP 100 0 2015 2016 25

  26. Slide 26: Highlights – Facilities Management

    Services Facilities Management Highlights – Facilities Management  HKCEC  Stable revenue in the face of general economic uncertainty  Free Duty HKCEC  Retail headwinds continued to suppress performance  Growth momentum at Lok Ma Chau intact  Lo Wu and Lok Ma Chau concessions renewed until 2022

  27. Slide 27: Construction & Transport AOP

    Services Construction & Transport AOP – Construction & Transport For the six months ended 31 Dec HK$’M 21% 600 (+8%) 500 1HFY17 AOP 400 300 492 534 21% 200 1HFY16 AOP 100 0 2015 2016 27

  28. Slide 28: Highlights – Construction & Transport

    Services Construction & Transport Highlights – Construction & Transport  Construction  AOP up 10% reflecting good job progress and better margins  Gross contract-on-hand: HK$73.7 billion  Remaining value: HK$39.9 billion  Transport  Steady performance despite rail network expansion  NWS Trans

  29. Slide 29: Strategic Investments AOP

    Services Strategic Investments AOP – Strategic Investments For the six months ended 31 Dec HK$’M 8% 250 (+202%) 200 1HFY17 AOP 150 3% 100 1HFY16 AOP 50 67 202 0 2015 2016 29

  30. Slide 30: Outlook & Conclusion – Infrastructure

    Outlook & Conclusion Infrastructure Foundation for sustainable growth and development  Roads  Strong & continuous growth in traffic volume and toll revenue  Environment  Enlarged SUEZ NWS to capture environmental opportunities in Greater China  Aviation  2 aircraft leasing platforms to capture

  31. Slide 31: Outlook & Conclusion – Services

    Outlook & Conclusion Services Positive prospects  Free Duty  Concessions at Lo Wu and Lok Ma Chau renewed to 2022  Construction & Transportation  Buoyant construction and strong order book Gleneagles Hong Kong Hospital  Full acquisition of NWST  Gleneagles Hong Kong Hospital  Scheduled to ope

  32. Slide 32: Disclaimer

    Disclaimer NWS Holdings Limited (“NWS Holdings”) makes no representation or warranty of any kind, express, implied or statutory regarding the accuracy or completeness of the information contained. The information in this presentation is prepared solely for information purposes only. Users and reader

  33. Slide 33: Q&A Session

    Q&A Session

NWS Holdings — H1 FY2017 Earnings Presentation on 6ix