National Central Cooling Company PJSC (DFM: TABREED)

TABREED Income Statement

Financials in millions AED. Fiscal year is January - December.

Fiscal Year	TTM	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period Ending	Jun 30, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Revenue	2,428	2,415	2,216	1,955	1,741	1,520
Revenue Growth (YoY)	5.18%	8.99%	13.35%	12.32%	14.51%	5.06%
Selling, General & Admin	286.5	272.45	245.17	246.55	218.99	206.67
Provision for Bad Debts	3.9	3.9	-8.83	1.1	5.58	13.58
Other Operating Expenses	1,345	1,333	1,178	1,084	886.09	767.55
Total Operating Expenses	1,635	1,610	1,414	1,332	1,111	987.8
Operating Income	792.18	805.74	801.9	623.18	630.06	532.31
Interest Expense	-238.44	-264.62	-289.44	-257.71	-221.6	-180.79
Interest Income	57.68	60.54	21.71	2.69	2.81	3.11
Net Interest Expense	-180.76	-204.08	-267.74	-255.02	-218.79	-177.68
Income (Loss) on Equity Investments	35.88	34.92	29.61	35.67	51.2	63.47
Other Non-Operating Income (Expenses)	-110.66	-5.41	69.64	-120.78	-2.68	27.05
EBT Excluding Unusual Items	536.64	631.17	633.41	283.05	459.78	445.15
Gain (Loss) on Sale of Investments	49.15	49.15	-	251.01	-	-
Gain (Loss) on Sale of Assets	84.24	84.24	-	-	-	-
Other Unusual Items	20.8	20.8	-	-	81.72	-
Pretax Income	690.82	785.35	633.41	534.06	541.51	445.15
Income Tax Expense	382.27	358.8	-	-	-	-
Earnings From Continuing Ops.	308.55	426.56	633.41	534.06	541.51	445.15
Earnings From Discontinued Ops.	-	-	-	76.68	31.96	35.65
Net Income to Company	308.55	426.56	633.41	610.75	573.47	480.8
Minority Interest in Earnings	5.22	4.58	-33.22	-25.59	-23.13	-8.33
Net Income	313.77	431.14	600.19	585.16	550.34	472.48
Net Income to Common	313.77	431.14	600.19	585.16	550.34	472.48
Net Income Growth	-57.95%	-28.17%	2.57%	6.33%	16.48%	10.49%
Shares Outstanding (Basic)	2,842	2,842	2,842	2,842	2,835	2,836
Shares Outstanding (Diluted)	2,842	2,842	2,842	2,842	2,835	2,836
Shares Change (YoY)	-	-	-	0.24%	-0.04%	0.00%
EPS (Basic)	0.11	0.15	0.21	0.21	0.19	0.17
EPS (Diluted)	0.11	0.15	0.21	0.21	0.19	0.17
EPS Growth	-57.95%	-28.17%	2.57%	6.07%	16.53%	10.49%
Free Cash Flow	890.86	1,131	1,171	1,128	522.98	678.33
Free Cash Flow Per Share	0.31	0.40	0.41	0.40	0.18	0.24
Dividend Per Share	0.155	0.155	0.135	0.059	0.055	0.101
Dividend Growth	14.81%	14.81%	129.98%	6.73%	-45.27%	10.56%
Profit Margin	12.93%	17.85%	27.08%	29.93%	31.62%	31.08%
Free Cash Flow Margin	36.70%	46.83%	52.82%	57.69%	30.04%	44.62%
EBITDA	1,098	1,119	1,098	872.94	830.71	682.42
EBITDA Margin	45.24%	46.32%	49.54%	44.65%	47.72%	44.89%
D&A For EBITDA	306.16	313.09	296	249.76	200.65	150.11
EBIT	792.18	805.74	801.9	623.18	630.06	532.31
EBIT Margin	32.63%	33.36%	36.18%	31.87%	36.20%	35.02%
Effective Tax Rate	55.34%	45.69%	-	-	-	-

Source: S&P Capital IQ. Utility template. Financial Sources.