National Central Cooling Co. (p.s.c.) (tabreed) · DFM:TABREED
National Central Cooling Co. (p.s.c.) (tabreed) — National Central Cooling Company PJSC (Tabreed) — Q3 2011 Earnings Presentation
19 slides from National Central Cooling Co. (p.s.c.) (tabreed)'s earnings presentation, Nov 3, 2011
Slide 1: Tabreed Q3 2011 Results Presentation
Tabreed Q3 2011 Results Presentation 3 November 2011
Slide 2: Disclaimer
Disclaimer • These materials have been prepared by and are the sole responsibility of the National Central Cooling Company PJSC, ‘Tabreed’ (the “Company”). These materials have been prepared solely for your information and for use at the presentation to be made on 3 November 2011. By attending the m
Slide 3: Agenda
Agenda • Our Business • Foundations for Growth • Operational Review – Sujit Parhar • Financial Review – Adrian Kershaw • Summary – Sujit Parhar • Q&A 3
Slide 4: Our Business
Our Business Chilled Water = Core Business Positive Impact on Financial Profitability Results Many New Connections New Past 18 Connections Months 4
Slide 5: Foundations for Growth
Foundations for Growth • We are a district cooling company in an economically flourishing region that requires year- round cooling • Long-term, stable contracts • High percentage of contracts are with UAE government entities • New cash was injected • This provided the necessary cash to fund the comp
Slide 6: Q3 2011 Results Summary
Q3 2011 Results Summary Financial Highlights 1) Strong Q3 2011 results demonstrate strength of underlying business • Group revenue YTD of AED 842.0m – up from AED763.3m YTD Q3 2010, over 10% • Operating profit YTD of AED 232.2m – up 22% over Q3 2010 • Reported net profit attributable to parent YTD u
Slide 7: Operational Review
Operational Review Sujit Parhar CEO 7
Slide 8: Q3 2011 Operational Achievements
Q3 2011 Operational Achievements 600,000 70 580,000 60 94% 560,000 540,000 50 Capacity (tons) No. of plants 94% 520,000 40 92% 500,000 88% 30 480,000 460,000 83% 20 440,000 10 420,000 400,000 - Q3 2010 Q4 2010 Q1 2011 Q2 2011 Q3 2011 Installed capacity Billed capacity No. of plants 8
Slide 9: UAE Operational Plants
UAE Operational Plants • In total 36,200 RT of gross capacity came online in Q3 2011, increasing capacity to 587,725 RT* (gross) across 60 plants – Average reliability of 99.99% Q3 2011 • The capacity increase reflects 11 plants which were completed in Q3 2011 – 8 plants for the Dubai Metro Green Li
Slide 10: Financial & Operational Metrics
Financial & Operational Metrics Key Metrics 2010 2012e 2011 YTD Comment Number of Plants 49 62 60 11 new plants came online in Q3 2011 Installed Capacity (RT) 542k 600k 588k Increase of 36k RT – 11 plants came online in Q3 2011 Connected Capacity (RT) 477k 575k 555k Net 35k of capacity connections i
Slide 11: Financial Review
Financial Review Adrian Kershaw CFO 11
Slide 12: 2011 YTD Financial Highlights
2011 YTD Financial Highlights Key Figures – Unaudited Consolidated Financials 9 months ended 30 September All figures in AED m 2011 2010 % change Revenues 842.0 763.3 10% Operating costs (496.9) (456.7) 9% Gross Profit 345.1 306.6 13% Gross Profit Margin 41% 40% Admin & other Expenses (112.9) (115.8
Slide 13: Chilled Water (85% of Revenue)
Chilled Water (85% of Revenue) • Revenues increased sharply Key Metrics % – Over the past 12 months, billed capacity increased to (AED m) Q3 2011 Q3 2010 Change 554,985 RT as at Q3 2011 (up from 387,717 RT as at Q3 2010) – 11 new plants and 2 plant expansions have come Revenues 712 563 26% online si
Slide 14: Value Chain Businesses (15% of Revenue)
Value Chain Businesses (15% of Revenue) • Contracting, Manufacturing and Services segment Key Metrics % (AED m) Q3 2011 Q3 2010 Change • Contraction of contribution from value chain businesses continues as expected, driven by the completion of Tabreed’s build-out program and economic conditions Reve
Slide 15: Summary
al is) tabreed Summary Sujit Parhar CEO 15
Slide 16: Summary
Summary Financial and Operational Successes • Robust Q3 2011 results – Group Revenues YTD of AED 842.0 million, up 10% – Gross Profit YTD of AED 345.1 million, up 13% – Net Profit YTD of AED 129.8 million, up 12% • Strong cash generating capability – Group EBITDA YTD of AED 323.7 million as at Q3 20
Slide 17: Looking Forward
Looking Forward • Tabreed is well positioned to capitalize on growth opportunities by meeting demand for cooling infrastructure in the region • GCC economies are pushing ahead with diversification and development plans, and district cooling is a vital component of economic growth • Our fundamental b
Slide 18: Q&A
| t scm fl fabieed Q&A 18
Slide 19: Contact Details
Contact Details For further information please contact Suzanne Holt sholt@tabreed.com +971 2 645 5007 ext. 424 Salam Kitmitto skitmitto@tabreed.com +971 2 645 5007 ext. 692 19
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