Tabreed PJSC (DFM:TABREED)

Q3 2024 National Central Cooling Co PJSC Earnings Call Transcript

Nov 15, 2024 / 11:00 AM GMT

Release Date Price: د.إ3.08 (+0.65%)

Transcript

Key Points

Positve

Tabreed PJSC (DFM:TABREED) reported a 6% year-over-year growth in revenue, driven by higher consumption volumes and new connections.
The company maintained a strong EBITDA margin of 50%, indicating stable profitability.
Tabreed PJSC (DFM:TABREED) achieved a verified carbon standard for one of its plants, allowing it to trade carbon credits, a first in the district cooling industry.
The company added significant new capacity, including 29,000 refrigeration tons over the past 12 months, with expansions in India and Egypt.
Tabreed PJSC (DFM:TABREED) has a robust financial position with a strong free cash flow generation, enabling increased dividend payouts and debt reduction.

Negative

The growth in the third quarter was lower than expected due to cooler weather compared to the previous year.
Operating costs increased due to expansion efforts and higher utility costs, impacting profit margins.
The deconsolidation of certain investments and lower CPI gains compared to the previous year affected overall revenue growth.
There are potential delays in project completions due to procedural issues with authorities, which could impact capacity growth.
The company faces challenges in scaling sustainability initiatives, which currently have a limited impact on overall financial performance.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

TABR.DU - National Central Cooling Co PJSC
Q3 2024 National Central Cooling Co PJSC Earnings Call
Nov 15, 2024 / 11:00AM GMT

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Presentation
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Unidentified_1 [1]
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Good afternoon, everyone and welcome to Tabreed's nine months, 2024 earnings conference call on the 15th of November 2024. Please note that this call today is being recorded and all participants are in listen-only mode. After the presentation is completed, there will be an opportunity to ask questions. So without further ado, I would like to pass the line over to Mr Ye Suneja, the head of Investor Relations at at Tabreed. Please go ahead, sir.

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Unidentified_2 [2]
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Thank you, Michael. Good morning. Good afternoon, everyone. Welcome

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