National Central Cooling Co. (p.s.c.) (tabreed) · DFM:TABREED
National Central Cooling Co. (p.s.c.) (tabreed) — National Central Cooling Company PJSC (Tabreed) — Q2 2014 Earnings Presentation
16 slides from National Central Cooling Co. (p.s.c.) (tabreed)'s earnings presentation, Jul 24, 2014
Slide 1: National Central Cooling Company PJSC Q2 2014 Results Presentation
National Central Cooling Company PJSC 24 July 2014 Q2 2014 Results Presentation
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 24 July 2014. By attending the meet
Slide 3: Agenda
Agenda • Our 15 Year Journey • Headline Performance • Operational and Financial Highlights • Chilled Water Performance • Summary 3
Slide 4: Our 15 Year Journey
Our 15 Year Journey World’s Largest District Cooling Company Iconic Projects 67 Plants in the GCC …delivering 926,000 RT …equivalent to cooling 92 Burj Khalifa towers ..of cooling to our clients High Contributor to the Environment Energy Efficiency Elimination of 1.2 billion kWh 570,000 tons 2013 re
Slide 5: Recent News
Recent News Regional Growth in Qatar – May 2014 • Qatar is an important market for us and our affiliate there, Qatar Cool, has just signed a construction contract for its fourth district cooling plant in Qatar • Upon completion in 2016, the plant will provide cooling to residential and commercial to
Slide 6: Q2 Headline Performance
Q2 Headline Performance VCB Revenue CW Revenue 299 • Chilled Water Revenue up 5% to AED 274.9m 287 297 45 279 17 24 Strong focus on 45 AED m • 7% increase in Group Revenue, up to AED 299.1m Core Business 242 252 262 275 • Chilled Water business represents 92% of Group Revenue Q2 2011 Q2 2012 Q2 2013
Slide 7: Operational Highlights
Operational Highlights Number of Plants Gross Capacity CAGR +7% CAGR +13% 66 67 926 kRT 65 814 kRT 54 729 kRT 647 kRT Q2 2011 Q2 2012 Q2 2013 Q2 2014 Q2 2011 Q2 2012 Q2 2013 Q2 2014 Group Revenue (AED m) Group EBITDA Margin Value Chain Business Chilled Water +1% +9% 49% 47% 24 45 45 17 40% 38% 252 2
Slide 8: Financial Highlights – Income Statement
Financial Highlights – Income Statement Unaudited Consolidated Financials (AED m) Q2 2014 Q2 2013 7% increase in revenue Revenue 299.1 278.7 Chilled Water (92% of revenue) 274.9 262.1 5% increase in Chilled Water revenue Value Chain Businesses (8% of revenue) 24.2 16.6 Operating Costs (159.7) (144.6
Slide 9: Financial Highlights – Balance Sheet
Financial Highlights – Balance Sheet Unaudited Consolidated Financials (AED m) Jun 2014 Dec 2013 Fixed Assets 6,653.9 6,633.0 15% increase, mainly as a result of Associates and Joint Ventures 600.6 524.5 investment in new joint venture Seasonality factor- results in higher Accounts Receivable 313.9
Slide 10: Financial Highlights – Cashflow
Financial Highlights – Cashflow Unaudited Consolidated Financials (AED m) H1 2014 H1 2013 EBITDA for the period 259.9 246.5 Finance Income relating to Finance Lease receivable (77.8) (60.8) Lease Rentals received 93.6 66.8 Increase in receivables due to Working Capital Adjustments (52.7) 14.4 season
Slide 11: Chilled Water Performance
Chilled Water Performance Gross Capacity (kRT) Revenue (AED m) Other Group UAE CAGR +1% 297 299 CAGR +13% 287 279 227 193 149 117 699 580 620 530 Q2 2011 Q2 2012 Q2 2013 Q2 2014 Q2 2011 Q2 2012 Q2 2013 Q2 2014 Chilled Water UAE Qatar Saudi Other Total Profit from Operations (AED m) (AED m) UAE Bahra
Slide 12: Summary
Summary • Air conditioning is an absolute necessity in the GCC Why District • District Cooling enables a 50% reduction in energy consumption and carbon footprint Cooling? • District Cooling is 16% cheaper than conventional cooling • Tabreed is the largest utility infrastructure business offering coo
Slide 13: Q&A
aliens 7 = ae tabreed Q&A 13
Slide 14: Contact Details
Contact Details For further information please contact Salam Kitmitto Communications Director skitmitto@tabreed.ae +971 2 645 5007 ext. 692 Suzanne Holt Snr. Corporate Finance and Investor Relations Manager sholt@tabreed.ae +971 2 645 5007 ext. 424 14
Slide 15: Appendix
UE 5 tabreed Appendix 15
Slide 16: Financial Highlights – HY Income Statement
Financial Highlights – HY Income Statement Unaudited Consolidated Financials (AED m) H1 2014 H1 2013 Revenue 526.3 497.2 6% increase in revenue Chilled Water (92% of revenue) 483.1 464.8 4% increase in Chilled Water revenue Value Chain Businesses (8% of revenue) 43.2 32.4 Operating Costs (267.9) (25
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