National Central Cooling Co. (p.s.c.) (tabreed) · DFM:TABREED
National Central Cooling Co. (p.s.c.) (tabreed) — National Central Cooling Company PJSC (Tabreed) — H1 2023 Earnings Presentation
20 slides from National Central Cooling Co. (p.s.c.) (tabreed)'s earnings presentation, Jul 28, 2023
Slide 1: National Central Cooling Company PJSC H1 2023 Earnings Presentation
National Central Cooling Company PJSC (DFM: TABREED) H1 2023 Earnings Presentation 28 July 2023
Slide 2: Disclaimer
Disclaimer • These materials have been prepared by and are the sole responsibility of the National Central • No person is authorized to give any information or to make any representation not contained in and Cooling Company PJSC, ‘Tabreed’ (the “Company”). These materials have been prepared solely f
Slide 3: Agenda
Agenda 1 Introduction and Business Highlights 4 2 Performance Highlights 9 3 Financial Results 13 4 Conclusion 18 3
Slide 4: Introduction and Business Highlights
01 Introduction and Business Highlights
Slide 5: H1 2023 Income Statement Highlights
H1 2023 Income Statement Highlights Financial Highlights: H1 2023 vs. H1 2022 Performance Highlights and Other Developments • The company has achieved a 9% growth in total revenue, primarily Total Chilled Water attributable to the revenue generated from the core Chilled Water Revenue Revenue busines
Slide 6: Tabreed at a Glance
Tabreed at a Glance First and one of the world’s largest publicly listed district Exclusive provider of District Cooling services to several cooling companies with a strong regional presence iconic projects 5 Countries: UAE, Saudi Arabia, Oman , Bahrain and India Further expansion in new geographies
Slide 7: Expansion of Connected Capacity (kRT) and Capital Expenditure
Expansion of Connected Capacity (kRT) and Capital Expenditure Consolidated 2Q 2022 3Q 2022 4Q 2022 1Q 2023 2Q 2023 UAE 1,038 1,053 1,060 1,071 1,077 Bahrain 34 34 34 34 35 Oman 51 52 52 53 53 Total Consolidated 1,123 1,139 1,146 1,158 1,165 Equity Accounted UAE 9 9 9 9 7 KSA 110 110 110 110 124 Tota
Slide 8: Capacity Growth Guidance
Capacity Growth Guidance • New capacity guidance for 2023 and 2024 is 120k RT 2023/24 Two years guidance kRT • Of the guided capacity, around 60% is expected to be contributed by consolidated entities and balance 40% by 2023/24 Capacity Guidance 120 equity accounted entities H1 2023 Actual Capacity
Slide 9: Performance Highlights
02 Performance Highlights Otabreed
Slide 10: Performance Highlights (1/3)
Performance Highlights (1/3) Group Connected Capacity (kRT) Group Revenue (AEDm) 1,241 1,296 1,128 1,175 976 1,067 195 212 869 41 181 175 29 710 37 29 946 1,000 1,047 1,084 947 1,026 681 832 H1 2020 H1 2021 H1 2022 H1 2023 H1 2020 H1 2021 H1 2022 H1 2023 UAE Other Chilled water revenue Value chain b
Slide 11: Performance Highlights (2/3)
Performance Highlights (2/3) Financial Results (AED m) Key Margins 589 590 59% 60% 60% 55% 518 415 394 377 386 * 38% 39% 37% 36%* 326 33% 32% 240 26% 27% 25% 233 224 233 280 26% H1 2020 H1 2021 H1 2022 H1 2023 EBITDA Margin Operating Profit Margin Net Income Margin Profit from Ops EBITDA Net Income
Slide 12: Performance Highlights (3/3)
Performance Highlights (3/3) Cashflow from operations (AED m) Gearing* 53% 709 52% 631 51% 597 310 49% H1 2020 H1 2021 H1 2022 H1 2023 H1 2020 H1 2021 H1 2022 H1 2023 Cashflow from Operations Gearing* • Resilient business model consistently generates • The notable improvement in the gearing ratio is
Slide 13: Financial Results
03 Financial Results Otabreed
Slide 14: Income Statement
Income Statement Consolidated Financials (AED m) H1 2023 H1 2022 Variance % Revenue 1,068 976 92 9% Chilled water revenue (96%) 1,026 947 80 8% Value chain businesses (4%) 41 29 12 41% Operating cost (541) (473) (68) 14% Gross Profit 527 503 24 5% Gross profit margin 49% 52% Administrative and other
Slide 15: Balance Sheet and Debt Maturity
Balance Sheet Consolidated (AED m) 30 Jun 2023 31 Dec 2022 Capital Structure Fixed Assets and Intangibles 12,125 12,252 6,165 Net Debt Profile (AED m) Associates and Joint Ventures 512 457 5,536 5,466 5,378 Receivables & Other Current 669 705 Assets Derivative – MTM 198 264 2020 2021 2022 H1 2023 Ca
Slide 16: Cash Flow Statement
Cash Flow Statement Consolidated Financials (AED m) H1 2023 H1 2022 Variance % Profit from Operations 394 377 18 5% Finance lease amortization 24 54 (30) (55)% Depreciation and Amortization 172 159 13 8% Working Capital and other adjustments 119 8 111 NA Net cash flows from Operating Activities 709
Slide 17: Cashflow Highlights
Cashflow Highlights Net Cashflows Net Cashflows Net Cashflows from Operating Activities from Operating Activities from Operating Activities (AED m) Pre-Working Capital (EBITDA) (AED m) Post-Investing Activities (AED m) 589 590 709 633 597 501 H1 2022 H1 2023 H1 2022 H1 2023 H1 2022 H1 2023 • Net Ope
Slide 18: Conclusion
04 Conclusion Otabreed
Slide 19: Environmental Impact
Environmental Impact Tabreed has set its own targets to support energy consumption reduction and emission prevention, through innovative technology solutions and environmentally-friendly practices. Pioneered various innovations Demonstrated environmental impact LTM H1 2023 Utilization of TSE1 water
Slide 20: Contact Us
Contact Us Tabreed IR / Churchgate Partners Email: ir@tabreed.ae , Tabreed@chuchgatepartners.com Salik Malik Riyad Hammad Vice President, Finance Head of Treasury and IR Tel: +971 2 2020397 Tel: +971 2 2020367 Email: smalik@tabreed.ae Email: rhammad@tabreed.ae
National Central Cooling Company PJSC (Tabreed) — H1 2023 Earnings Presentation on 6ix