Slide 1: TransAlta Corporation Q4 2003 Investor Update
TransAlta Corporation Q4 2003 Investor Update January 2004
Slide 2: Forward looking statements
Forward looking statements This presentation may contain forward-looking statements, including statements regarding the business and anticipated financial performance of TransAlta Corporation. These statements are subject to a number of risks and uncertainties that may cause actual results to differ
Slide 3: Q4 2003 highlights
Q4 2003 highlights • Earned $0.23 per share • Cash flow of $165 million • Closed USD$300 million senior note issue • Announced Summerview Wind Farm
Slide 4: Financial results
Financial results ($ millions) 3 months ended Dec. 31 2003 Change Revenues $ 655 +23% Operating income $ 129 N/A* Earnings from continuing $ 44 N/A* operations** Cash flow from operating activities $ 165 -13% * Value was negative in 2002 ** Net of preferred securities distributions
Slide 5: Financial results
Financial results ($ millions) 3 months ended Dec. 31 2003 2002 Reported earnings from continuing operations* $ 44 $ 67 Significant events included in reported earnings (after-tax amounts): Impairments and write-downs $ 8 $ - Gain on sale of Sheerness $ (10) $ - Turbine order cancellation $ - $ 28 W
Slide 6: Financial results
Financial results ($ millions) Year ended Dec. 31 2003 Change Revenues $ 2509 +38% Operating income $ 562 +164% Earnings from continuing $ 234 +250% operations* Cash flow from operating activities $ 757 +73% * Net of preferred securities distributions
Slide 7: Financial results
Financial results ($ millions) Year ended Dec. 31 2003 2002 Reported earnings from continuing operations $ 234 $ 67 Significant events included in reported earnings (after-tax amounts): Turbine impairment $ 55 $ - Impairments and write-downs $ 8 $ - Gain on sale of Sheerness $ (146) $ - Refinancing
Slide 8: Maintenance
Maintenance Strategy: planned versus unplanned to improve effectiveness and reduce outages ($ millions) 3 months ended Dec. 31 2003 2002 Capitalized $ 4 $ 10 Expensed $ 13 $ 19 Total $ 17 $ 29 Lost GWh 336 373
Slide 9: Maintenance
Maintenance Strategy: planned versus unplanned to improve effectiveness and reduce outages ($ millions) Year ended Dec. 31 2003 2002 Capitalized $ 35 $ 102 Expensed $ 78 $ 46 Total $ 113 $ 148 Lost GWh 2300 2000
Slide 10: Consolidation
Consolidation Be cos im ize Grow ain tain Focus effecti t Max intellig M g on ve asset s ently stron e people a la nc b sheet
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