National Central Cooling Co. (p.s.c.) (tabreed) · DFM:TABREED
National Central Cooling Co. (p.s.c.) (tabreed) — National Central Cooling Company PJSC (Tabreed) — Q1 2012 Earnings Presentation
19 slides from National Central Cooling Co. (p.s.c.) (tabreed)'s earnings presentation, May 1, 2012
Slide 1: National Central Cooling Company PJSC Tabreed Q1 2012 Results Presentation
Na#onal Central Cooling Company PJSC Tabreed 1 May 2012 Q1 2012 Results Presenta#on
Slide 2: Disclaimer
Disclaimer • These materials have been prepared by and are the sole responsibility of the Na#onal Central Cooling Company PJSC, Tabreed (the Company ). These materials have been prepared solely for your informa#on and for use at the presenta#on to be made on 1 May 2012. By aJending the mee#ng where
Slide 3: Agenda
Agenda • Overview • Founda#ons for Growth • Opera#onal Review • Financial Review • Summary • Q&A 3
Slide 4: Overview
Overview District cooling is an essen#al u#lity Tabreed s Business service in the region Model It has a number of benefits over tradi#onal air condi#oning: • Lower life cycle costs • Lower opera#ng costs • Property owner benefits • Energy reduc#on for governments • Environmentally friendlier 4
Slide 5: Foundations for Growth
Founda#ons for Growth • We are a district cooling company in an economically strong region that requires year-‐round cooling • Long-‐term, stable contracts • High percentage of contracts are with UAE government en##es • Funds available to complete exis#ng projects • Substan#ally completed build ou
Slide 6: Q1 2012 Results Summary
Q1 2012 Results Summary Financial Highlights Strong Q1 2012 results con6nue to demonstrate strength of our underlying business • Q1 2012 Chilled Water Revenue YTD up 5% to AED 193.2m (Q1 2011: AED 183.5m) but due to the expected decrease in revenues from the Value Chain Businesses (Q1 2011: AED 62m
Slide 7: Operational Review
Ut Sub LD J HY fi tabreed Operational Review
Slide 8: Group Operational Achievements
Group Opera#onal Achievements 800 64 65 55 700 162 162 148 148 162 600 120 Thousands RT 500 38 67 400 60 300 597 587 555 555 542 477 200 395 340 100 0 2009 2010 2011 Q1 2012 UAE Installed Other Group Installed UAE Connected Other Group Connected Number of Plants • Addi#ons of 10,000 RT to Inst
Slide 9: UAE Operational Plants
UAE Opera#onal Plants • In total, 10,000 RT of gross capacity came online in Q1 2012, increasing capacity to 597,325 RT* (gross) across 59 plants • The capacity increase is as a result of the comple#on of one plant in Ajman Q1 2012 Opera6onal • Total connected capacity of chilled water in Q1 2012 wa
Slide 10: Financial & Operational Metrics
Financial & Opera#onal Metrics Key Metrics -‐ UAE Q1 2012 Q1 2011 % Change Comment FY 2011 11 new plants in 2011, 2 small plants Number of Plants 59 49 20% closed (total of 400 RT) 58 1 new plant came online in Q1 2012 Installed Capacity (RT) 597,325 541,525 10% Increase of 55,800 RT, 45,800 RT in
Slide 11: Financial Review
Ut Sub LD J HY fi tabreed Financial Review 11
Slide 12: Chilled Water
Chilled Water Contribu#on to Revenue 88% (Q1 2011: 75%) • Revenues increased slightly Key Metrics Q1 % – 11 new plants and 2 plant expansions came online Q1 2012 during 2011 and we are now seeing the full impact (AED m) 2011 Change Revenues 193.2 183.5 5% • Chilled water has contributed 99.6% of our
Slide 13: Value Chain Businesses
Value Chain Businesses Contribu#on to Revenue down to 12% (Q1 2011: 25%) • Con#nued and expected contrac#on of contribu#on from Key Metrics Q1 Q1 % value chain businesses, driven by the comple#on of (AED m) 2012 2011 Change Tabreed s build-‐out program – Real estate slowdown impacts services segmen
Slide 14: Q1 2012 Financial Highlights
Q1 2012 Financial Highlights • Chilled Water Revenue for the period increased from Key Figures – Unaudited Consolidated Financials AED 183.5m to AED 193.2m (increase of AED 9.7m) but due to the expected decrease in revenues from 3 months the Value Chain Businesses of AED 36m (Q1 2011: AED ended 31 M
Slide 15: Summary
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Slide 16: Summary
Summary Financial and Opera6onal Successes • Robust Q1 2012 results – Q1 2012 Gross Profit up 9% on Q1 2011 at AED 110.9m (Q1 2011: AED 102.0m) – Q1 2012 Net Profit up by 15% to AED 36.8m (Q1 2011: AED 31.9m) • Strong cash genera6ng capability – Q1 2012 Group EBITDA up by 12% to AED 105.5m (Q1 2011: A
Slide 17: Looking Forward
Looking Forward • Tabreed is well posi#oned to capitalize on growth opportuni#es by mee#ng demand for cooling infrastructure in the region • GCC economies con#nue to grow and district cooling is a vital component of economic growth • Our fundamental business model is strong: – Many of our contracts
Slide 18: Q&A
Ty j =o ‘it tabreed Q&A 18
Slide 19: Contact Details
Contact Details For further informa#on please contact Salam KitmiJo Communica#ons Director skitmiJo@tabreed.com +971 2 645 5007 ext. 692 Suzanne Holt Snr. Corporate Finance and Investor Rela#ons Manager sholt@tabreed.com +971 2 645 5007 ext. 424 19
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