Tabreed Financial Analysis

Financial Analysis Report
National Central Cooling Company PJSC
Course Title: ACCT 601
Accounting for Senior Managers
Submitted to: Dr. Peter B Oyelere
Submitted by: Group Number 1:
Ashraf Kuzmar 201370291
Fatima Al Mazrouei 201370298
Omar Al Amoodi 201370227
Sara Kayoum 200202209
Cohort Number: Cohort 23
Submitted Date: Thursday, December 12, 2013

Introduction 4
Tabreed Company Background 5
Tabreed Vision, Mission & Values 6
Mission: 6
Vision: 6
Values 6
Facts & Figures 7
District Cooling System 7
Tabreed Operations 8
The Major Milestones 8
Tabreed’s Projects in UAE: 10
Tabreed’s Projects Outside UAE: 11
Tabreed’s Subsidiaries 12
Tabreed Competitors 14
Recent Significant Events 16
2011 Significant Event: Recapitalization program involving up to AED 3.1 billion of long term funding from the Mubadala development company 16
2012 Significant Event: Conversion of the unpaid amounts under the Subordinated loan facility with Mubadala Treasury Holding Company into Mandatory Convertible Bonds (MCBs). 17
Shareholders 17
Tabreed Plans First Cash Dividend in 8 Years as U.A.E. Recovers 17
Financial Overview 20
Auditor’s Report Analysis 20
Historical Highlights 2009-2012 21
Operating Efficiency 22
 Liquidity measures 26
 Activity measures 29
 Profitability measures 33
 Financial leverage measures 35
4 years Comparison Financial Statements for Tabreed 36
The financial situation in the 3rd quarter of the current year (2013) and comparing it to the same period last year (2012): 37
Conclusion 39
Appendix A 40
Bibliography 42

National Central Cooling Company PJSC Tabreed, together with its subsidiaries, delivers cooling solutions to residential, commercial, private sector and government mainly in the United Arab Emirates. It operates in two business segments, Chilled Water and Value Chain Business.