National Central Cooling Co. (p.s.c.) (tabreed) · DFM:TABREED
National Central Cooling Co. (p.s.c.) (tabreed) — National Central Cooling Company PJSC (Tabreed) — FY2015 Earnings Presentation
20 slides from National Central Cooling Co. (p.s.c.) (tabreed)'s earnings presentation, Feb 1, 2016
Slide 1: 2015 Results Presentation
National Central Cooling Company PJSC 1 February 2016 2015 Results Presentation
Slide 2: Disclaimer
• No person shall have any right of action (except in case of fraud) against the Company or any other person in relation to the accuracy or completeness of the information contained herein. Whilst the Company has taken all reasonable steps to ensure the accuracy of all information, the Company canno
Slide 3: Agenda
Agenda A | Introduction and Performance Highlights – Jasim Thabet, CEO B | Financial Results – Steve Ridlington, CFO C | Conclusion – Jasim Thabet, CEO
Slide 4: Robust results delivered in 2015
Tabreed Analyst Presentation 2015 4 Robust results delivered in 2015 • Providing 974kRT of cooling – 8% annual growth since 2012 • 35KRT added in 2015 and ~100 kRT of new contracted capacity under Commercial and Operational construction Performance • 1.3 billion KWh of electricity saved in 2015, red
Slide 5: An environmentally friendly Company operating across GCC to deliver shareholder returns
Tabreed Analyst Presentation 2015 5 An environmentally friendly Company operating across GCC to deliver shareholder returns As an integral part of the region's growth, Tabreed will be the leading utility company, delivering and operating district cooling infrastructure, while creating sustainable va
Slide 6: Tabreed at a glance
Tabreed Analyst Presentation 2015 6 Tabreed at a glance One of the world’s largest district cooling companies 974kRT Equivalent to cooling 69 plants in the GCC delivered to clients 97 towers the size of Burj Khalifa Greater reliability compared to conventional cooling and positive environmental impa
Slide 7: The only listed DC Company in GCC and operating across the region
Tabreed Analyst Presentation 2015 7 The only listed DC Company in GCC and operating across the region 5 Countries | 69 Plants | 974 kRT • Only listed DC company in GCC markets • Uniform utility infrastructure model implemented across GCC • Long term contracts underpinning stability of earnings and r
Slide 8: 2015 Performance
Tabreed Analyst Presentation 2015 8 2015 Performance Government • Providing 974kRT of cooling across GCC– growing 8% annually since 2012 Long-term 956 974 • Long term price certain contracts (~25 years) ensuring stability in earnings Group Connected 767 839 Capacity (kRT) contracts with • Over 50% o
Slide 9: Agenda
Agenda A | Introduction and Performance Highlights – Jasim Thabet, CEO B | Financial Results – Steve Ridlington, CEO C | Conclusion – Jasim Thabet, CEO
Slide 10: Stable core business model delivering consistent performance
Tabreed Analyst Presentation 2015 10 Stable core business model delivering consistent performance Profit Statement (% of revenue) Capacity (fixed) Consumption Total (variable) Capacity Consumption Revenue 66 34 100 Utility Costs - (31) (31) Revenue Plant operation & maintenance (8) - (8) Depreciatio
Slide 11: Financial Highlights
Tabreed Analyst Presentation 2015 11 Financial Highlights Income Statement Unaudited Consolidated Financials (AED m) Dec 2015 Dec 2014 Variance % Revenue 1,172 1,131 41 +4% Chilled water revenue (94%) 1,103 1,035 68 +7% Value chain businesses (6%) 69 96 (27) -28% Operating cost (611) (597) (14) +2%
Slide 12: Financial Highlights
Tabreed Analyst Presentation 2015 12 Financial Highlights Financial Position Unaudited Consolidated Financials (AED m) Dec 2015 Dec 2014 Variance % Fixed Assets 6,766 6,679 87 +1% Associates and Joint Ventures 714 651 63 +10% Accounts Receivable 410 467 (57) -12% Cash and Short Term Deposits 177 418
Slide 13: Financial Highlights
Tabreed Analyst Presentation 2015 13 Financial Highlights Cash flow Statement Unaudited Consolidated Financials (AED m) Dec 2015 Dec 2014 Variance % Profit from Operations 383 374 9 +2% Finance lease amortisation 42 35 7 +21% Depreciation 120 126 (6) -5% Working capital and other adjustments 60 14 4
Slide 14: Chilled Water Performance 2015
Tabreed Analyst Presentation 2015 14 Chilled Water Performance 2015 Gross Capacity (kRT) Chilled Water Revenue (AED m) GCC UAE CAGR +3% CAGR +8% 1,103 974 1,011 1,027 1,035 956 839 767 267 284 203 155 636 689 690 612 2012 2013 2014 2015 2012 2013 2014 2015 Chilled Water Profit From Operations (AED m
Slide 15: Debt Portfolio
Tabreed Analyst Presentation 2015 15 Debt Portfolio • Tabreed’s current gearing is 44% (debt: debt + equity), approaching global utility peers • 95% of Tabreed’s debt is denominated in AED, with the balance in USD and OR, in line with cash flow generation profile • Virtually all the debt is floating
Slide 16: Agenda
Agenda A | Introduction and Performance Highlights – Jasim Thabet, CEO B | Financial Results – Steve Ridlington, CEO C | Conclusion – Jasim Thabet, CEO
Slide 17: Key Recent Developments
Tabreed Analyst Presentation 2015 17 Key Recent Developments December 2015 July 2015 AED 193m April 2015 Repurchased Long-term 28% of MCBs project Jan 2015 5 fils dividend financed with financing deal paid for 3rd new bank signed for Dec 2014 30-year consecutive loan contract Dubai Parks year plant
Slide 18: In Conclusion
Tabreed Analyst Presentation 2015 18 In Conclusion • Air conditioning is a critical part of the GCC infrastructure Why District • District Cooling enables a 50% reduction in energy consumption, carbon footprint and state subsidies Cooling • District Cooling is 16% cheaper than conventional cooling •
Slide 19: Questions
Wy oa Jn tabreed Questions
Slide 20: IR Contacts
Tabreed Analyst Presentation 2015 20 IR Contacts Faisal Tahir Bhatti Ahmed Al Nowais Senior Analyst Senior Manager Tel: +971 2 2020336 Tel: +971 2 2020333 Email: FBhatti@tabreed.ae Email: AAlnowais@tabreed.ae
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