Slide 1: FY2015 Annual Results
FY2015 Annual Results GROWING BEYOND BOUNDARIES
Slide 2: NWS Investment Portfolio
NWS Investment Portfolio Infrastructure Services 基建 服務 Roads Facilities Management 道路 設施管理 Energy 能源 Construction & Transport Water 建築及交通 水務 Strategic Investments Ports & Logistics 策略性投資 港口及物流 2
Slide 3: Financial Summary
Financial Summary 2015 2014 Change % For the year ended 30 June (HK$’M) (HK$’M) Fav./(Unfav.) Revenue 24,491.8 21,443.0 14 Attributable Operating Profit 4,456.6 4,379.0 2 (AOP) Profit Attributable to 4,477.6 4,324.9 4 Shareholders (PAT) Basic Earnings per share (HK$) 1.19 1.17 2 Dividend per share (
Slide 4: Financial Position
Financial Position Total cash and bank balances: HK$10.4 billion Total debt: HK$16.8 billion Net debt position: HK$6.4 billion Net gearing ratio: 14% (23% as at 30 June 2014) (As at 30 June 2015) 4
Slide 5: Attributable Operating Profit
Attributable Operating Profit By Segment By Region HK$’M HK$’M 4,379 4,457 4,379 4,457 4,500 4,500 4,000 4,000 3,500 3,500 2,428 2,625 2,292 2,556 3,000 3,000 (55%) (59%) (52%) (57%) 2,500 2,500 2,000 2,000 1,500 1,500 1,000 1,951 1,832 1,000 2,087 1,901 500 (45%) (41%) 500 (48%) (43%) 0 0 FY2014 FY
Slide 6: Roads, Energy, Water, Ports & Logistics
Roads Energy Water Ports & Logistics 6
Slide 7: Infrastructure projects by segment
Roads and related projects in Guangdong, 19 Guangxi, Shanxi, Zhejiang and Tianjin Roads 1 Tunnel project in Hong Kong 3 Power plants in the PRC Energy 1 Coal distributor in Guangzhou Water treatment projects in the PRC and 28 Macau 1 Incineration plant in Shanghai 2 Sludge treatment projects in the
Slide 8: AOP by Segment
PORTS & ROADS ENERGY WATER LOGISTICS AOP by Segment 2015 2014 Change % For the year ended 30 June (HK$’M) (HK$’M) Fav./(Unfav.) Roads 1,201.0 1,126.7 7 Energy 256.2 384.0 (33) Water 375.2 355.7 5 Ports & Logistics 792.5 561.6 41 Total 2,624.9 2,428.0 8 8
Slide 9: AOP – Roads
ROADS AOP – Roads HK$’M (+7%) 1,200 27% 1,000 FY2015 AOP 800 1,127 1,201 600 25% 400 FY2014 AOP 200 0 FY2014 FY2015 9
Slide 10: Highlights – Roads
ROADS Highlights – Roads Toll revenue growth from rising traffic and shifting traffic mix on major expressways (“Expy”) Hangzhou Ring Road 杭州繞城公路 up 7% Beijing-Zhuhai Expy (Guangzhou-Zhuhai Section) 京珠高速公路 (廣珠段) up 9% Tangjin Expy (Tianjin North Section) ("TJE") 唐津高速公路 (天津北段) up 10% Traffi
Slide 11: AOP – Energy
ENERGY AOP – Energy HK$’M 400 6% 300 FY2015 AOP (-33%) 200 384 256 9% 100 FY2014 AOP 0 FY2014 FY2015 11
Slide 12: Highlights – Energy
ENERGY Highlights – Energy Macau Power divestment completed in Jul 2014 AOP down 22% after excluding the contribution from Macau Power Challenging operating environment for coal-fired power plants in Mainland China Electricity sales volume down 12% amid policy support for hydro-power and wea
Slide 13: AOP – Water
WATER AOP – Water HK$’M 400 (+5%) 8% 300 FY2015 AOP 200 356 375 8% FY2014 AOP 100 0 FY2014 FY2015 13
Slide 14: Highlights – Water
WATER Highlights – Water Sino French Water 中法水務 delivered healthy growth of 13% Full-year contribution from Jiangsu Water Company Mainland China projects maintained steady growth in treatment volume Tariff hikes: • Nanchang Water Plant up 48% (effective May 2014) • Shanghai Spark Water Plant
Slide 15: AOP – Ports & Logistics
PORTS & LOGISTICS AOP – Ports & Logistics HK$’M (+41%) 800 18% 600 FY2015 AOP 400 562 793 13% FY2014 AOP 200 0 FY2014 FY2015 15
Slide 16: Highlights – Ports & Logistics
PORTS & LOGISTICS Highlights – Ports & Logistics Xiamen Container Terminal Group 廈門集裝箱碼頭集團 Full-year profit contribution Equity interest increased from 13.8% to 20% in Sep 2015 Tianjin Five Continents Int'l Container Terminals 天津五洲國際集裝箱碼頭 Throughput up 8% Tianjin Orient Container Termina
Slide 17: Highlights – Ports & Logistics (Cont'd)
PORTS & LOGISTICS Highlights – Ports & Logistics (Cont’d) Beijing Capital International Airport (BCIA) 北京首都國際機場 (首都機場) Full-year profit contribution Passengers throughput reached 89M BCIA Promising growth in 1H2015: • Passenger volumes up 6% • Non-aeronautical revenue up 21% 17
Slide 18: Highlights – Ports & Logistics (Cont'd)
PORTS & LOGISTICS Highlights – Ports & Logistics (Cont’d) Goshawk Aviation Limited (Goshawk) Acquisition of 40% equity interest in Feb 2015 (fleet of 27 aircraft) Fleet size increased to 40 as at 30 Jun 2015 (Target to exceed 50 by the end of 2015) Goshawk Immediate cash flow and profit cont
Slide 19: Goshawk's portfolio as at 30 Jun 2015
PORTS & LOGISTICS Highlights – Ports & Logistics (Cont’d) Goshawk’s portfolio as at 30 Jun 2015 America Others 5% A330 10% Australia 5% 13% A320 Asia 52% 44% B737 Europe 33% 38% Fleet size: 40 aircraft Geographical Spread 19 Asset Under Management: USD1.6 billion
Slide 20: Highlights – Ports & Logistics (Cont'd)
PORTS & LOGISTICS Highlights – Ports & Logistics (Cont’d) ATL Logistics Centre 99.5% occupancy rate Average rental up 17% NWS Kwai Chung Logistics Centre 100% occupancy rate ATL Logistics Centre 20
Slide 21: Highlights – Ports & Logistics (Cont'd)
PORTS & LOGISTICS Terminals in operation Highlights – Ports & Logistics (Cont’d) • Kunming • Qingdao • Chongqing • Wuhan China United Int’l Rail Containers (CUIRC) • Chengdu • Xian • Zhengzhou • Dalian Throughput up 12% Terminals under construction • Tianjin • Urumqi Regular Euro block-train s
Slide 22: Facilities Management, Construction & Transport, Strategic Investments
Construction & Transport Facilities Management Strategic Investments 22
Slide 23: AOP by Segment
Facilities Management Construction & Transport Strategic Investments AOP by Segment 2015 2014 Change % For the year ended 30 June (HK$’M) (HK$’M) Fav./(Unfav.) Facilities Management 861.5 910.7 (5) Construction & Transport 691.1 605.3 14 Strategic Investments 279.1 435.0 (36) Total 1,831.7 1,951.0 (
Slide 24: AOP – Facilities Management
Facilities Management AOP – Facilities Management HK$’M 1,000 (-5%) 19% 800 FY2015 AOP 600 911 862 21% 400 FY2014 AOP 200 0 FY2014 FY2015 24
Slide 25: Highlights – Facilities Management
Facilities Management Highlights – Facilities Management HKCEC Revenue up 6% Patronage up 8% Over 1,110 events held HKCEC Free Duty Overall performance impacted by rental increase and reduction of high-spending Mainland visitors Negative impacts partly mitigated by growth at Lok Ma Cha
Slide 26: AOP – Construction & Transport
Construction & Transport AOP – Construction & Transport HK$’M (+14%) 700 16% 600 FY2015 AOP 500 400 605 691 300 14% 200 FY2014 AOP 100 0 FY2014 FY2015 26
Slide 27: Highlights – Construction & Transport
Construction & Transport Highlights – Construction & Transport Construction Revenue up 18% Gross contract-on-hand: HK$71.0 billion Remaining value: HK$50.9 billion Transport Passengers down 13% during “Occupy Central Movement” Passengers down 6% since opening of MTR West Island Line
Slide 28: AOP – Strategic Investments
Strategic Investments AOP – Strategic Investments HK$’M 500 6% 400 FY2015 AOP 300 (-36%) 10% 200 435 279 FY2014 AOP 100 0 FY2014 FY2015 28
Slide 29: PAT & AOP
6 PAT & AOP CAGR: 10.2% 5 PAT HK$’ Billion 4 AOP 3 CAGR: 8.0% 2 1 0 29
Slide 30: Net Assets
50 Net Assets $46.2B 45 40 CAGR: HK$’ Billion 35 15.0% 30 25 20 15 10 $9.9B 5 0 30
Slide 31: Core business – quality growth
Core business – quality growth driven by a combination of organic and acquisition strategies Roads Growth potentials of Tangjin Expressway (Tianjin North Section) Full implementation of toll-by-weight in Guangdong Province in Jun 2015 Draft amendment of “Regulation on the Administration of T
Slide 32: Goshawk – Good outlook for aircraft leasing business
Goshawk – Good outlook for aircraft leasing business Number of commercial aircraft worldwide % of commercial aircraft on lease 50 50 50 42 40 40 Percentage (%) (55%) (55%) Aircraft (‘000) 30 30 25 21 20 20 10 10 2 0 0 2013 2033 E 1980 2000 2020 E Source: Airbus, Boeing, IATA E = Estimated 32
Slide 33: Free Duty and Construction outlook
Free Duty Outlook remains challenging despite continuous increase in passenger throughput at Lok Ma Chau Station Ferry terminal concessions renewed until 2018 Construction Vibrant construction market for the foreseeable future Full order book 33
Slide 34: Gleneagles Hong Kong Hospital
Gleneagles Hong Kong Hospital (港怡醫院) Superstructure construction underway Senior management on board Medical Board formed Credentialing process for doctors and specialists Gleneagles Hong Kong Hospital established Target to open in early 2017 34
Slide 35: Disclaimer
NWS Holdings Limited (“NWS”) 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 readers are cautioned not
Slide 36: Q&A Session
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