drake & scull international pjsc
TRANSCRIPT
Drake & Scull International PJSC
Investor Presentation
FY 2017 Results
1
2
3
4
5
6
7
8
Table of Contents
Financial Performance FY 2017
Strategic Direction & Critical Path
Business Rationalization & Operational Recovery
Project Awards
Appendix
Business Rationalization
Financial Performance
3
10
14
18
21
13
15-20
23
3
Financial Performance
4
2,285
570
-
1,714
500 1,071
-
500
1,000
1,500
2,000
2,500
ShareCapital Dec
2016
CapitalReductionOct 2017
EquityInjectionOct 2017
ShareCapital Dec
2017
AED 500 Million Rights Issue
Fully subscribed by Tabarak Investment
1,249352
100
300
500
700
900
1,100
1,300
Dec 2016 Dec-17
AED million AED million
2,747
(441) (1,336) (1,396)
(2,000)
(1,500)
(1,000)
(500)
0
500
1,000
1,500
2,000
2,500
3,000
Revenue Gross Loss EBITDA Net Loss
AED million
Capital Increase Revenue / Gross Loss/ EBITDA / Net Loss
Share Capital
39% Execution Rate
8,174
5,528
2,747
204 263
Backlog Dec2016
Revenue Adjustements Awards Backlog Dec2017
2,628 2,886
0
500
1,000
1,500
2,000
2,500
3,000
Dec 2016 2017
Backlog
Total Debt Total Equity
9% YoY Change* By TabarakInvestment
AED million
Business Performance
Group Summary FY 2017
5
The UAE and the KSA comprises 19 % and 18 % of the Total Backlog standing at AED 5.5 billion as of December 31st 2017
Engineering and Civil comprises 27% and 23% of the Backlog respectively
Total Assets stand at AED 6.9 billion and Net Equity stands at AED 352 million as of December 31st 2017
1,268
5,5281,493
2,767
Civil Engineering Others Total Backlog
6,000 6,943
5,146
6,943
591
6,592
352
1,797
CurrentLiabilities
Non CurrentLiabilities
TotalLiabilities
Total Equity Total Equity& Liabilities
CurrentAssets
Non CurrentAssets
Total Assets
Work in Progress ,Trade & Other Receivables,
comprise 87 % of Current Assets
*Others include Oil & Gas
Projects in Egypt & Passavant
Projects
Total Liabilities & Equity AED 6.9 Billion
Total Assets AED 6.9 Billion
Total Backlog AED 5.5 Billion
Business Performance
Balance Sheet Summary FY 2017
Backlog Total Assets Total Liabilities Total Equity Share Capital
AED Mn 5,528 6,933 6,592 352 1,071
YoY % Change -32% -9% 4% -72% -53%
6
FY 2017 YoY Results
Revenue Gross Profit/ (Loss) Net Profit/ (Loss)
Debt Operating Cash Flow Backlog (billion)
Revenue:
2,747
3,259
FY 17 FY 16
AED 2,747 Million
(440)(365)
FY 17 FY 1621%
Gross Loss: AED (440) Million Net Loss:
(1,396)
(815)
FY 17 FY 16
AED (1,396) Million
2,886
2,628
FY 17 FY 16
Debt: AED 2,886 Million
4,492
5,010
FY 17 FY 16
Trade and other receivables: Backlog: AED 5.5 Billion
Revenue declined vs the same period last year
primarily due to margin adjustments
The Increase in debt is attributable to increase in
conversion of unfunded working capital facilities to
funded debt
The Net loss increased by 71% in comparison to last
year due to the provisions recorded in FY 2017
The Backlog declined mainly due to decrease in
bidding and project awards across all regional
markets
5.5
8.1
FY 17 FY 16
-10%
-32%
-16%
+9%
The Gross Loss has increased primarily due to
margin adjustments
The decline in trade and other receivables is
primarily due to provisions recorded during the year
AED 4,492 Million
71%
Business Performance
Group Summary FY 2017 YoY
7
Engineering Civil Others Total
Backlog 3,862 1,268 398 5,528
% Total 70% 23% 7% 100%
Awards 0 175 88 263
% Total 0% 67% 33% 100%
Revenue 1,744 757 246 2,747
% Total 64% 28%9%%
100%
% Total 69% 27% 4% 100%
Net Profit (Loss) (1,046) (431) 81 (1,396)
% Total 75% 31% -6% 100%
Engineering and Civil comprised 70% and 23% of the of the Total Backlog standing at AED 5.5 billion as of December 31st 2017
The Civil business contributed to 67% of new Contract awards in 2017 and the Water Treatment business contributed 33 % respectively
The Net losses recorded for fiscal year 2017 are attributed primarily to revenue reversal, provisions and cost overruns across all streams
Business Performance
Business Stream Overview FY 2017
41%
33%
64%
28%
9%
70%
23%
7%
75%
31%
-6%
93%
14%
-7%
Backlog Awards Revenue Gross Loss Net Loss
AED 5,528 Million
AED 263 Million
AED 2,747Million
AED (440) Million
AED (1,396) Million
AED Million70%23%7%Engineering Civil Others
8
Business Performance
Backlog Summary FY 2017
The UAE and the KSA comprises 18 % and 19 % of the Total Backlog standing at AED 5.5 billion as of December 31st 2017
Engineering and Civil comprises 27 % and 23% of the Backlog respectively
UAE KSA Qatar Others Total
Engineering 567 428 167 331 1,493
% of Total 58% 42% 100% 10%
Civil 409 597 0 262 1,268
% of Total 42% 58% 0% 8%
Oil & Gas 0 0 0 2,369 2,369
% of Total 0% 0% 0% 71%
Others 0 0 0 398 398
% of Total 0% 0% 0% 12%
Total 976 1,025 167 3,360 5,528
Country Breakdown Geographic Breakdown
18%
19%
3%
60%
UAE KSA Qatar Others
Backlog Mix by
Country
27%
23%
43%
7%
Engineering Civil Oil & Gas Others
Backlog Mix by Stream
5,528
567
428
167 331
409
597
262
2,369
398
0
1,000
2,000
3,000
4,000
5,000
6,000
UAE KSA Qatar Others Total
Total Engineering Civil Oil & Gas Others
*Others include Oil & Gas Projects
in Egypt & Iraq
976
1,025167
3,360
9
Summary income statement
Summary balance sheet Summary cash flow statements
Business Performance
Summary Financial Statements
AEDm 2017 2016 YoY % Change
Backlog 5,528 8,174 -32%
Revenues 2,747 3,259 -16%
Gross Margin -16% -11% 43%
SG&A 1,047 409 156%
Depreciation 49 57 -14%
EBITDA (1,336) -566 136%
EBITDA Margin -49% -17% 188%
Net Income - Loss (1,396) -815 71%
Net Margin -51% -25% 104%
AEDm 2017 2016 YoY % Change
PPE 282 420 -33%
Trade & Other Receivables 4,492 5,010 -10%
Total Equity 352 1,249 -72%
Gross Debt 2,886 2,628 10%
AEDm 2017 2016 YoY% Change
Cash flow from Operations (840) (220) 282%
Cash flow from Investing 311 114 173%
Cash flow from Financing 400 33 1112%
Cash & Cash Equivalents (435) (304) 43%
Strategic Direction & Critical Path
11
Operational & Financial Levers
Recapitalization
The Group successfully completed the recapitalization program in Q4 2017, extinguished the Group’s accumulated losses and secured a AED 500 million Equity injection to improve liquidity and accelerate operational recovery
A total of AED 1.7 billion of accumulated losses has been fully extinguished through a 75% capital reduction effectuated in October 2017, enabling the Group to balance its financial position and initiate a turnaround plan to restore projects’ performance and to stabilize the business
The Strategic Investor
Tabarak Investment a leading and renowned private equity firm in the UAE acquired c.50% of the Group in October 2017 through the AED 500 million capital injection.Tabarak Investment has a fast-growing and expanding portfolio with proven achievements in successful transformative acquisitions in different sectors such as Real Estate, Infrastructure, Construction, Education, Finance, Manufacturing, Logistics and Services
Debt Restructuring
The Group completed the restructuring of its corporate general bank debt in the UAE and secured new credit lines and working capital facilities for the ongoing and new projects portfolio
The company reached in Q4 2017 a consensual agreement with nine regional and local banks to restructure AED 566 million of the total corporate general debt standing at AED 899 million as of December 31st 2017.The Company is concurrently in advanced talks with its creditors in KSA and the wider GCC to restructure its funded projects debt
Re-organizational Efforts
Initiated reorganizational efforts, appointed a new management team with over 25 years of regional and international experience and initiated a comprehensive organizational restructuring program to reduce SG&A, optimize resource utilization, streamline the legal, corporate & group’s structure
Business Rationalization
Right-sized the business and balanced the services portfolio by divesting non-core assets and by scaling back on non-core geographies and by reinforcing the Engineering business in the UAE and KSA with selective approach to the high margin businesses (MEP, Waste Water Treatment , Oil & Gas) in regional markets and an opportunistic approach in secondary markets to reduce exposure and mitigate operational and financial risks
Operational Recovery
Streamlined operations and revamped the operational structure, contained margin erosion and accelerated projects performance and resolved commercial disputes impeding projects delivery and financial performance
Delivered key projects in Abu Dhabi and Dubai (Louvre Museum/TDIC, La Mer/Meeras). Re-instigated relationships with key clients in the UAE. Accelerated bidding activities with c. AED 1.4 billion of secured letter awards for several contracts in the UAE in Q1 2018.
Key Milestones achieved in the Turnaround Plan
Accelerated recovery and ongoing measures to restore market position
12
Strategy Direction & Critical Path
Multifaceted program to restore leadership & position for growth
2017: Execution
Streamline Operations & Improve the Operational Structure
Business Transformation2018: Stabilization 2019: Recovery 2020: Acceleration & Growth
Target High Margin Projects in Core Markets
1
2
3
4
Unlock Value & Implement Productivity Measures across Projects
Advance Core Competencies, Skills & Talents
New Management Appointment , Reinforcement of the Group’s Structure
Realign the Group’s Strategy & the Operating Model with Emphasis on Engineering
Increase Diversification
Use of Cash Proceeds from Equity Injection to shore-up working capital
Complete the Debt Restructuring & Secure New Credit Facilities
Balance the Capital Structure
Optimize Resource Utilization, Cost Reduction & Establishment of Shared Services
Contain Margin Erosion & Accelerate Project Performance
Improve Liquidity & Deleverage
Accelerate Bidding in the Engineering Sector
Invest for Growth and Improve Operational Capacities
Operational Efficiency & Margin
Accretion
Right Sized & Lean Organizational
Structure
Strengthened Balance Sheet
Balanced Service Portfolio
OperationalReview
Organizational Optimization
Financial Restructuring
Project Awards & Investments
13
Strategy
Leverage MEP Expertise in core markets and diversify the service portfolio
Typically Lower Uncertainty Typically Lower Uncertainty
Cu
sto
me
rs/m
arke
ts
• 39% General Contracting
Core Non-core
Co
reN
on
-co
re
• 63% (UAE, KSA, Oman, and Qatar)
• 43% MEP
• 37% other territories including Jordan, Algeria, India, etc
• 18% Other segments such as Water and waste water treatment, Oil & Gas
Cu
sto
me
rs/m
arke
ts • 28% other territories
• 9% Other segments such as Water and waste water treatment
• 72% (UAE, Oman and KSA)
• 44% Engineering• 14% Oil & Gas
• 33% General Contracting
Core Non-core
Co
reN
on
-co
re
Awards Past 5 yearsStrategy: Inorganic growth
through acquisition and diversification
Awards Next 5 YearsStrategy: Organic growth
through diversification and focus on core
lars Strategic pillars Market FocusSector Focus &
Vertical Integration Diversification & Selective Growth
Advancement of Core MEP Capabilities
Value Engineering
1 2 3 4 5
Business Rationalization & Operational Recovery
15
Board of Directors
Newly elected to steer the company back to recovery & growth
The board of directors outlined DSI’s recovery and growth strategy and steered the company’s structural and operational reforms
The Board re-established DSI’s corporate governance standards and protocols, by emphasising consistent transparency, control and quality
The Board appointed key industry leaders to lead DSI’s Audit, Nomination, Remuneration, and Investment Committees
The Board enabled the infusion of a new corporate mindset and culture to accelerate the efficient completion of the Group’s turnaround strategy
The Board is committed to drive DSI towards new and exciting opportunities to advance the Group’s industry leadership
DSI’s Board of Directors comprises of prominent UAE industry leaders
ChairmanMr. Abdulla Subhi Atatreh
Vice ChairmanMr. Ahmad Saeed Al Hamri
Board MemberMr. Abdulla Fareed Algurg
Board Member
Mr. Ahmad Al Kilani
Board Member
Mr. Mohammad Subhi Atatreh
Board MemberMr. Khamis Juma Buamim
Empowered Executive Committees to enforce Corporate Governance & Control
16
Business Rationalization
Ongoing reforms to balance the service portfolio and regain momentum
Key Initiatives
Major reforms initiated by Tabarak Investment to realign the Group’s structure with the strategic direction of the newly elected Board of Directors
Renewed focus on the Engineering business in the UAE to drive margin accretion and regain market share
Re-orientation of the Business Model to drive synergies across all operating segments with emphasis on high performing sectors
Scaling back on non-core geographies to right size the business, preserve capital and attrition of resources
Divestments of non-core assets to generate cash and support working capital requirements
Aggressive pursuit of receivables to generate liquidity
Potential spin-off of subsidiaries to unlock value and optimize shareholders return
Reorganizational Efforts
Calibration of the Service Portfolio
Re-orientation of the Business Model
Divestments
…strategic focus on selective tier 1 clients and high margin projects to restore profitability
17
Operational Recovery
Adoption of key measures to stabilize operations and improve liquidity
► Ongoing projects review to assess commercial positions and financial impact
► Leverage Tabarak local presence and relationships to resolve projects disputes
► Resumption of work on halted projects in the UAE► Use proceeds of the recapitalization to bridge working capital deficit
and accelerate projects performance► Improve receivables certification and collection to reduce the cash
conversion cycle► Streamline the operational structure to restore margins and improve
productivity ► Advance core competencies to achieve operational efficiencies
…with emphasis on cost reduction (SG&A) to improve operating margins
Boost Performance and Restore Profitability
Drivers for Operational
Recovery
Resolve Commercial & Financial Disputes on
Projects
Bridge the Working Capital Deficit and Accelerate Projects Performance
Improve Revenue Generation and Collections
Operational re-alignment to boost revenue generation & restore margins
Project Awards
19
Accelerated momentum in contract awards in the UAE driven by Tabarak
West Bay Tower
Supported by Tabarak Investment, the General Contracting subsidiary of DSI, Gulf Technical Construction Company (GTCC), has been awarded an AED 175 million contract by Orion Real Estate Development L.L.C. to build the latter’s latest project, the West Bay residential tower located at Dubai’s Business Bay
The West Bay residential tower is strategically located in the region’s new business capital, the Business Bay central business district, which is being developed as a commercial, residential and business cluster spanning a 5.9 million sq.m area from Ras Al Khor to Sheikh Zayed Road. Once completed, the 34-storey West Bay residential tower will feature 252 residential apartments
Project Awards
20
Accelerated momentum in contract awards in the UAE driven by Tabarak…
Nasayem
Supported by Tabarak Investment, the General Contracting subsidiary of DSI, Gulf Technical Construction Company (GTCC), has been awarded a AED 250 million contract to develop the Nasayem project in Wahat Al Zaweya in Al Ain, UAE
GTCC has already started the construction works for the 336-unit villa complex Nasayem project, which will be composed of 290 three-bedroom villas and 46 four-bedroom villas
GTCC is concurrently in advanced stages of negotiations with Wahat Al Zaweya for additional contracts that are valued at AED 750 million. The negotiations are expected to be concluded in the first half of 2018
Project Awards
Appendix
22
Established in the UK in 1881 as two dedicated companies focusing on electrical and plumbing works respectively
Both companies merged in 1964 to create Drake & Scull International (DSI)
Drake Scull International (DSI) ventured into the middle east in 1966 with an operational base in Abu Dhabi
DSI launched a highly successful IPO in 2008 and listed on the Dubai Financial Market in 2009
DSI diversified into General Contracting, Rail & Infrastructure, Water and Wastewater Treatment and Oil & Gas
DSI expanded global footprint to span MENA, Europe and South Asia
Overview
Evolution of Drake & Scull
Bernard Drake founds Drake and Gorham, a new electrical company with colleague Marshal Gorham
Arthur Scull starts his plumbing business in Bristol
Drake & Gorham and Arthur Scull and Son merge to form Drake & Scull Engineering
DSI Establishes office in Abu Dhabi
DSI establishes Infrastructure, Water and Power operations
DSI acquires Gulf Technical Construction Company (GTCC)
DSI offers 55% of its shares to the public through Its IPO, which was 101 times over-subscribed
DSI acquires Drake & Scull Kuwait and Passavant Roediger and opens offices in Jordan and Thailand
DSI establishes Drake & Scull Water and Power and Drake & Scull Construction
DSI acquires Drake & Scull International Qatar and opens offices in Egypt and Oman
DSI acquires Saudi based Drake & Scull International Saudi Arabia and Civil Construction firm ICC
DSWP establishes office in India
Drake & Scull forms dedicated Oil & Gas division
DSWP and DSC establish offices in Qatar
DSI launches Drake & Scull International Oil & Gas in Abu Dhabi
Establishes offices in India, Iraq and Algeria
Launches Drake & Scull Rail in MENA and Asia
DSI achieves ISO 27001:2013 certification and implements Oracle JD Edwards ERP worldwide
1881 1893 1964 19662006 -2007
2008 2009 2010 2011 2012
Drake & Scull Engineering is formed by merging the MEP and WP businesses
Passavant Roedigerevolves into Passavant Energy and Environment
2013-2014
2015
2016: DSI acquires ISO 9001:2015, ISO 14001:2015 and ISO 18001:2007 certification in KSA
2017: Recapitalization Program Completed
Tabarak Investment acquires 52 % of DSI
2016-2017
Bernard Drake
Arthur Scull
History of DSI
23
Group Overview
Leaders in the regional EPC market
Drake & Scull International (“DSI”) is a regional market leader delivering integrated end to end solutions in the Engineering (MEP), Construction, Oil & Gas, Rail, Infrastructure Development, Water and Waster Water Treatment businesses
DSI’s EPC track record spans over 137 years of global experience and 52 years of Middle East experience
Unmatched project delivery credentials with over 700 projects completed globally in the last 5 decades
Robust ongoing projects backlog worth AED 5.5 Billion
Publicly Listed on Dubai Financial Market with highest Corporate Governance Rating from ESCA
Skilled and experienced multicultural workforce in excess of 15,000
Rich projects’ experience spanning Airports, Residential, Commercial, Mixed Use, Water & Power, Hotels, Tourism, Rail, Education, Hospitals, Government Complexes, Retail Malls, High Rises, Water Treatment Plants, District and Central Cooling Plants
Company Overview Overview of Business Streamlines
Engineering
Construction
Rail & Infrastructure
Oil & Gas
Waste Water
Historical premier Mechanical, Electrical, and Plumbing engineering services, pioneering the adoption of District Cooling Plants and large scale projects
General Civil Contracting services division established in 2010 to execute civil works and turnkey projects in residential and hospitality sectors
European Rail experience and pedigree to deliver complete EPC scope for Rail Networks, depots, yards, stations, tunnels, as well as Renewable energy
Focused EPC capabilities catering to Oil, Gas and Water Gathering, Processing, Refineries, Pipelines and Storage Systems and Plants
Germany based EPC expertise with patented technologies and innovations spanning Waste & Waste Water Treatment, Sewage Treatment and Waste to Energy Plants
83%
3%
8%
6%
UAE
GCC
Arab
Foreign
UAE GCC Arab Foreign
*As of 5th March 2018
Shareholder Structure
Global Footprint
New Delhi
Dubai
Cairo
AlgiersIstanbul
Amman
Sofia
Budapest
Bucharest
Frankfurt
Headquarters
Subsidiaries
Branches
Abu Dhabi Qatar
RiyadhJeddah
Baghdad
Kuwait
Muscat
+ 125 Ongoing Projects
+ 19 Offices Worldwide
AED 5.5 Billion Projects Backlog
Backlog Mix by
Stream
Engineering (27%)
Civil (23%)
Oil & Gas (43%)
Passavant & Others (7%)
Backlog Mix by
Geography
UAE (18%)KSA (19%)Qatar (3%)Others (54%)
+ 15,000 Employees
24
History of DSI
Compelling Growth Story
1960’s Global ExpansionForays into Asia and the Middle East
19th CenturyUK’s Leading MEP Contractor
Post MillenniumSuccessful IPO & Expansion of Service Offering
25
Vertically Integrated Services
Operational Highlights
Track Record
Mission
VisionOur vision is to capitalize on our heritage and brand values in order to become regional market leaders in the MEP Sector byproviding engineering excellence to clients while achieving optimum shareholder value, through commitment in delivering best practices in corporate governance and transparency
To safely deliver world-class projects, providing integrated design and engineering in General Contracting, Mechanical, Electrical & Plumbing (MEP), Rail & Infrastructure, Oil & Gas and Water & Wastewater Treatment through our value system – People, Innovation Passion and Integrity – while promoting environmental protection and sustainable communities’ development
Global, Experienced workforce of
15,000 professionals700+ projects delivered in last 5
decades
Ongoing Projects Backlog worth
AED 5.5 Billion
Over 125 Ongoing Projects across key
markets
LEED Silver, Gold and Platinum Experience
Modern ERP Platform
ISO 9001:2008, ISO 14001:2004, ISO 27001:2013 and OHSAS 18001:2007 certified
Strategic partnerships with regional industry leaders and clients Fast Track Scalable EPC Capabilities
In-house BIM capabilities
Competitive Edge137 years of global engineering experience, 52 years of regional engineering expertise, seamless integration of core EPC capabilities across key markets backed by innovative practices and technology
Engineering (MEP) General Contracting Rail & Infrastructure Oil & Gas Water & Wastewater Treatment
Business Overview
Integrated Engineering services across the construction value chain
26
Engineering Water Treatment DevelopmentConstruction
Main activities include :
• Turnkey, Design and Build• Engineering, Procurement
and Construction (EPC)• Engineering, Procurement
and Construction Management (EPCM)
• Post Handover Operation and Maintenance (O&M)
Main activities include:
• General Contracting services for the construction of buildings and various civil projects and Infrastructure works
• Detail design, contract plans, and specification
• Construction planning, scheduling, and estimation
• Materials and equipment procurement
• Construction project management, inspection, and quality control
Main activities include:
• Complete EPC solutions for all Rail systems and services across MENA and South Asia
• Expertise in Turnkey solutions for Tunnels, Stations, Depots, Track side, and Construction Management
• Completed Projects include St PancrasRailway Station, Jubilee Line Extension, and complete MEP Works for London Underground
Main activities include:
• Raw Water Treatment• Desalination/Demineraliz
ation• Ground Water and
Surface Water treatment• Treatment of Residues• Municipal wastewater
treatment• Industrial wastewater
treatment• Sludge treatment• Mechanical & Biological
Waste Treatment including Waste to Power
• Unique patented in-house German Technology
Main activities include:
• Turnkey Solutions and Construction activities for:
• Oil, Gas and Water Pipelines
• Oil and Gas Facilities• Oil Refineries, Gas,
Chemical & Petrochemical process plants
• End-to-end engineering solutions from Project Management to Startup Services
• Registered and prequalified with leading Petrochem Ministries and corporations
Main activities include:
• Public Private Partnership Projects (PPP)
• Essential Infrastructure creation
• Co-Development project initiatives with partners and alliances
Rail Oil & Gas
Integrated EPC Services
Service Portfolio
Vertical Integration across the construction value chain
27
INTEGRATED EPC SERVICES SCOPE & CREDENTIALS
Sectors Engineering Civil Oil & Gas Water Treatment
Aviation
Comprehensive solutions catering to airport terminals, passenger transport, communication towers and systems, HVAC and Electricals.DSI has worked on Abu Dhabi International Airport Terminal Phase 2, New Muscat International Airport, New Doha International Airport, as well as the Kai Tak Airport in Hong Kong
District Cooling Plants (DCP)
DSI pioneered the adoption of DCPs to promote energy efficient district cooling. DSI offers in-depth EPC capabilities for large scale projects such as Jumeirah Beach Residence, Meydan, and ITCC (KSA)
Education
Complete end-to-end General contracting and MEP Engineering capabilities for college campuses and residential compounds. DSI has delivered prominent projects such as KAUST, KAPSARC and the Princess Noura University
Healthcare
DSI offers in-depth EPC solutions catering to hospitals, medical universities, and laboratories, spanning MEP, IT networks, and communication infrastructure. DSI has delivered landmark projects, such as the King Khaled Hospital Extension, Tabarjal Hospital in Saudi Arabia, and the Rashid Hospital in Dubai
Hospitality
DSI offers end-to-end EPC solutions catering to MEP and General contracting needs for hotels, luxury resorts, amusement parks, and specialised themed developments.DSI has regionally delivered prominent hotels such as the Fairmont Palm Hotel & Resort, Shangri-La Qaryat Al Beri Resort, and the W Hotel.
Energy
DSI offers comprehensive EPC turnkey capabilities catering to Oil & Gas plants, Pipelines, Refineries, Storage locations, Onshore and Offshore, Upstream and Downstream projects. DSI has delivered projects in Iraq and Egypt.
Power
DSI has extensive expertise in power generation and transmission projects, as well as Waste to Energy conversion in the MENA region. DSI also offers complete spectrum of EPC solutions catering to Renewable energy, and has delivered a 1MW solar power project in South India
Infrastructure & Industrial
DSI offers advanced PPP and Design, Build, and Operate (DBO) capabilities catering to the infrastructure region
Water
Patented German EPC technologies catering to Water and Wastewater Treatment (WWTP), Sludge Treatment, and Waste Management. DSI’s subsidiary Passavant has delivered several WWTP installations across Europe, MENA and Asia
Rail
DSI offers turnkey EPC services for Railway stations, depots, tunnels and external facilities. DSI has delivered several projects in Europe, as well as the Dubai Airport Passenger Mover.
Business Divisions & Sectors
Diversified services portfolio across multiple sectors
28
Project Credentials
Proven track record of delivering iconic projects in region
Jabal Omar
Location: Mecca, KSA
Industry: Mixed use
Developer: Jabal Omar Devel.
Value: US$350m
Status: Ongoing
Channel Tunnel Rail Link
Location: London, UK
Industry: Transport
Value:US$350m
Status: Complete
Jewel of the Creek
Location: Dubai,UAE
Industry: Mix - use
Developer: DIRE Real Estate
Value:US$53 m
Status: Ongoing
Dohaland
Location: Doha, Qatar
Industry: Cooling plant
Developer: Mshreib Properties
Value: US$59m
Status: Ongoing
Jumeirah Beach Hotel
Location: Dubai
Industry: Hospitality
Developer: Jumeirah
Value: US$36m
Status: Complete
Saraya Aqaba
Location: Aqaba, Jordan
Industry: Commercial
Developer: Saraya Aqaba RE
Value:US$208m
Status: Ongoing
KAUST
Location: Thuwal, KSA
Industry: Education
Developer: ARAMCO
Value: US$257m
Status: Complete
Channel Tunnel Rail Link
Location: Romania
Industry: Wastewater Treatment
Value: US$65m
Status: Complete
Jumeirah Beach ResidencesDistrict Cooling Plant
Location: Dubai, UAE
Developer: Tecom
Value: US$74m
Status: Complete
KAPSARC
Location: Riyadh, KSA
Industry: Education
Developer: Saudi Aramco
Value: US$800m
Status: Complete
Royal Amwaj Resorts & Spa
Location: Dubai, UAE
Industry: Mixed use
Developer: Seven Tides
Value:US$107m
Status: Complete
Ammonium Nitrate PlantLocation: Ain Sokhna, Egypt
Industry: Petrochemical
Developer: EH Corp
Value:US$21m
Status: Complete
29
Clients
Key partnership with lead clients in the region
Established Tier 1 Regional Clientele Base Across Multiple Sectors
30
Disclaimer
This presentation has been produced by the management of Drake & Scull International PJSC (DSI) (“DSI” or the “Company”), solely for use at various tele-conference
arranged for existing/prospective institutional investors and for their clients/potential clients and shall not be reproduced or redistributed, in whole or in part, to any
other person without Company’s written consent.
This presentation may contain certain forward-looking statements relating to the plans, strategies, business prospects, financial performance and results of the
Company and/or the industry in which it operates. Forward-looking statements concern future circumstances and results and other statements that are not historical
facts, sometimes identified by the words “believes”, “expects”, “predicts”, “intends”, “projects”, “plans”, “estimates”, “aims”, “foresees”, “anticipates”, “targets”, and
similar expressions. Such forward-looking statements including assumptions, opinions and views of the Company are solely opinions and forecasts which are subject to
risks, uncertainties and other factors that may cause actual events to differ materially from any anticipated development. None of the Company or the officers or the
employees provide any assurance that the assumptions underlying such forward-looking statements are free from errors nor does any of them accept any
responsibility for the future accuracy of the opinions expressed in this presentation or the actual occurrence of the forecasted developments. The Company assumes
no obligation to update any forward-looking statements or to conform these forward-looking statements to the Company’s actual results.
By participating, attending or receiving this presentation you acknowledge that you will be solely responsible for your own assessment of the market and the market
position of the Company and that you will conduct your own analysis and be solely responsible for forming your own view of the potential future performance of the
Company’s business. This presentation speaks about the information as of end of Q1 2018 or at a stated date. Neither the delivery of this presentation nor any further
discussions of the Company with any of the recipients shall, under any circumstances, create any implication that there has been no change in the affairs of the
Company since such period or date.
This Presentation is intended for information purposes only and does not constitute or form part of an offer for sale or subscription or an invitation or solicitation of an
offer to subscribe for or purchase securities of any kind and neither this document nor anything contained herein shall form the basis of any contract or commitment
from any party whatsoever.
This presentation has been prepared by Drake & Skull International PJSC (“DSI”) and reflects the management’s current expectations or strategy concerning future
events and are subject to known and unknown risks and uncertainties.
No representation or warranty, express or implied, is made or given by or on behalf of DSI or any of its respective members, directors, officers or employees or any
other person as to the accuracy, completeness or fairness of the information or opinions contained in or discussed at this presentation
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For further enquiries, please visit www.drakescull.com
Drake & Scull International PJSCRabih Abou DiwanInvestor Relations DirectorTel: 04 [email protected]