Ctf Services Limited · HKEX:659
Ctf Services — NWS Holdings — H1 FY2005 Earnings Presentation
28 slides from Ctf Services's earnings presentation, February 2005
Slide 1: Interim Results Presentation
Interim Results Presentation 2004/05
Slide 2: Contents
Contents Î New World Group Structure Î NWSH Corporate Structure Î NWSH Group Results Î NWSH Results by Division Î Infrastructure Î Rental and Service Î Corporate Strategies Î Summary of New Investments 1
Slide 3: New World Group Structure
New World Group Structure New World Development Company Limited ( : 0017) (HK Stock code: 0017) Listed Direct investments 54% 70% 71% 54% 産 • ( ) Hong Kong property (inv estment & dev elopment) New World New World Mobile New World TMT NWS Holdings Limited • China Land Limited Holdings Limited Limite
Slide 4: NWSH Corporate Structure
NWSH Corporate Structure Infrastructure Rental & Service Energy Facilities Rental Water Contracting Roads Transport 路 Ports Others 3
Slide 5: NWSH Group Results
NWSH Group Results For the six months ended 31 December 2004 2003 Change (HK$M) (HK$M) +/ (-)% Turnover 5,132.4 6,542.5 (22) AOP 833.7 996.6 (16) Profit attributable to shareholders 881.6 814.2 8 Earnings per share HK$0.49 HK$0.46 7 Interim dividend per share HK$0.18 HK$0.15 20 Total assets 25,501.6
Slide 6: Encouraging Progress in Debt Reduction
Encouraging Progress in Debt Reduction Net Debt 8.7 (HK$ billion) 7.0 4.6 4.9 3.0 Feb 03 Dec 03 Jun 04 Dec 04 Mar 05 (Proforma) Î Gearing ratio: 41% as at 31 December 2004 (30 June 2004: 44%) Î Cash on hand: currently HK$3.4 billion Additional HK$3 billion from ports disposal in March 2005 Î Finance
Slide 7: AOP Mix Total: HK$834M
AOP Mix (For the six months ended 31 December 2004) Infrastructure Rental & Service HK$598M HK$236M 72% 28% Total: HK$834M 6
Slide 8: Infrastructure
a eS i a 32 Infrastructure
Slide 9: AOP - Infrastructure
AOP - Infrastructure For the six months ended 31 December 2004 2003 Change (HK$M) (HK$M) +/ (-)% Energy 306.8 241.2 27 Water 32.4 21.4 51 Roads 192.0 150.8 27 Ports 66.6 105.3 (37) TOTAL 597.8 518.7 15 8
Slide 10: Operational Review - Infrastructure: Energy
Operational Review - Infrastructure Energy Zhujiang Power Phase I & II Macau Power 力 Î Zhujiang Power Phase I and II combined sales increased by 3% Î Increasing coal price hindered profitability Î Macau Power recorded 9% increase in sales 9
Slide 11: Operational Review - Infrastructure: Water
Operational Review - Infrastructure Water Macao Water Sanya Water Î AOP increased remarkably by 51% Î Macao Water sales up 3% Î Contribution from new water project in Sanya and improved performance of other water projects in Mainland China 10
Slide 12: Operational Review - Infrastructure: Roads
Operational Review - Infrastructure Roads Tangjin Expressway Guangzhou City Northern Ring Road (Tianjin North Section) 北 路 路( 北 ) Î Guangzhou City Northern Ring Road and Tangjin Expressway (Tianjin North Section) were key contributors Î Beijing-Zhuhai Expressway (Guangzhou-Zhuhai Section), Guangxi R
Slide 13: Operational Review - Infrastructure: Ports
Operational Review - Infrastructure Ports Xiame n New World Xiangyu Terminals CSX Orient (Tianjin) 陸 Î Significant increase in Î Contribution remained stable contribution by 50% Î Throughput 560,000 TEUs Î Throughput increased by 9% to 307,000 TEUs 12
Slide 14: Outlook - Infrastructure
Outlook - Infrastructure • Energy – Demand in Guangdong Province continues to surge – Maintain production units and adopt stringent cost management to relieve coal price pressure – Aerated concrete project and coal berth in Zhujiang Power yield contributions • Water – Tianjin Tanggu water project co
Slide 15: Outlook – Infrastructure (Continued)
Outlook – Infrastructure (Continued) • Roads – Benefits from economic growth and rise in car ownership in Mainland China – Central Government’s ambitious road plan creates investment opportunities – Possible toll increase in Tate’s Cairn Tunnel 老 • Ports - Mainland China – Tianjin: ¾Remains as the g
Slide 16: Rental & Service
— oie ibe Rental & Service
Slide 17: AOP – Rental & Service
AOP – Rental & Service For the six months ended 31 December 2004 2003 Change (HK$M) (HK$M) +/ (-)% Facilities Rental 219.4 193.3 14 Contracting (136.0) 119.4 (214) Transport 46.4 36.0 29 Others 106.1 129.2 (18) TOTAL 235.9 477.9 (51) 16
Slide 18: Operational Review – Rental & Service: Facilities Rental
Operational Review – Rental & Service Facilities Rental Î HKCEC attained excellent results: profit up 21% Î Steady cash flow and profit from ATL, occupancy increased to 93% Î ATL asset owned by NWSH 17
Slide 19: Operational Review – Rental & Service: Contracting
Operational Review – Rental & Service Contracting Î Fierce competition due to limited contracts Î Proactively explores business in Mainland China and Macau 18
Slide 20: Operational Review – Rental & Service: Transport
Operational Review – Rental & Service Transport Î Attained growth Î Synergies from realignment of New World First Bus and Citybus Î High oil price and new rail line hindered profitability Î NWFF (Macau) had a steady performance Î Kunming NWFB contributed satisfactory profit 19
Slide 21: Outlook – Rental & Service
Outlook – Rental & Service • Facilities Rental: – Strong growth potential – HKCEC Atrium Link extension – ATL rental remains steady • Contracting: – Hong Kong construction market continues to be slow – Hunghom Peninsula project will yield contribution – Well positioned to tap Mainland China and Maca
Slide 22: Hunghom Peninsula Property Project
Hunghom Peninsula Property Project Î 50/50 JV with Sun Hung Kai Properties Î GFA 1.55 million sq ft Î Upgrade property quality and facilities to luxury estate Î Expect to contribute in FY2006/07 21
Slide 23: Corporate Strategies
Corporate Strategies 22
Slide 24: Corporate Strategies
Corporate Strategies Î Grow the business, enhance shareholder value. Inherent growth & new business opportunities via • Streamline business & focus on core business segments • Leverage on the Group’s expertise in Mainland China, particularly Pearl River Delta Î Uphold service excellence & corporate
Slide 25: Summary of New Investments
Summary of New Investments Infrastructure Projects Status Guangzhou-Zhaoqing Expressway 路 Operational Beijing-Zhuhai Expressway (Guangzhou-Zhuhai Early 2006 Northern Section) 路( 北 ) Pearl River Delta Ring Road (South-Western 2007 Section) 路 Aerated concrete project and coal berth in Operational Zhuj
Slide 26: Pledge of Excellence
Pledge of Excellence Î Rank 49th among HK listed companies in terms of market capitalization as at 31 January 2005 Î A constituent stock of ÎHang Seng HK MidCap Index ( 數) ÎFTSE Asia Pacific Ex-Japan Index (倫 數( )) Î Recognized success with prestigious awards 25
Slide 27: Awards
Awards • Caring Company Logo • Mercury Awards • China PR Awards • Asia Pacific PR Awards •Employee Gold Star Award 26
Slide 28: Quality Service Quality Life
Quality Service Quality Life 力量 來 27