Vector Limited · NZX:VCT
Vector — H1 2010 Earnings Presentation
25 slides from Vector's earnings presentation, Feb 26, 2010
Slide 1: 2010 half year result
Embargoed until 2:00pm (7 Friday 26 February 2010 2010 half year result Michael Stiassny, Chairman
Slide 2: Michael Stiassny, Chairman
Vector 7 Michael Stiassny Chairman
Slide 3: Agenda
Vector (7 Agenda » Results summary » Segment performance - Electricity, Gas Transportation, Gas Wholesale, Technology Update - Fibre, Regulation, Electricity Review, Security of Supply » CFO financial summary » Summary Questions
Slide 4: : # $ % * $ % * / ( ' ) ' '
: 4 0 1 # 0 1 2 0 1 3 $ 1 % * $ 1 % * / ( ' ) ' ' ' !4 *1 0 ) 0 0 0 5 0 !4 * 06 ) 06 60 5 7 89!* 65 ) 65 0' 6 6 89 * ) 2 ' 25 0% ; $ + $ - 6< 3= 89 * % ) $ / = 2 = 4
Slide 5: Simon Mackenzie, Group Chief Executive Officer
Vector 7 Simon Mackenzie Group Chief Executive Officer
Slide 6: Revenue, EBITDA, NPBT
> % %0 1 # $ ) $ 4 14 $ ($ )2 0 1 # 5 ' ' ' ! " ' 3 6 2 * $ 7 6= 0 6 0 0 3 0 ' 65 0' 6 2 Revenue EBITDA NPBT NPAT 3 2 8 - $ - - $ - # 5.3 # 5.1 ' 6 7 7 -1.8 6 -1.0 -0.1 -1.7 -0.9 -15.3 )7 ) ) )6 3 3 ) 7 -13.8 )' 2 ) -16.9 -15.8 2 )3 ) ) 7 ) )0 ) 6 )07 -35.6 ) ' )6 % # % # 8 $ ? % @? $ 6
Slide 7: A $ B % %0 # $ 3' ( % !4 *1 : (
A $ B % %0 1 # $ 6 07 3' 3 ( % !4 *1 0 50 2 7 36 55 : 7 7 ( !4 *1 # ' # () * % # % +, 67 76 6 7 0 1 # % & % ' 70 0 < 6 057 7 & & ' & & 07 7 0 7 0 7 3 2 3 2 7
Slide 8: % %0 # $ * 3' ' - . /0 & # & '#
% %0 1 # $ * 6 3 0 25 2 3 3' 3 ' 6 - . /0 & # & '# +, ,1 $ # 77 5 0 1 # ' 0 < & 7 ' 7 1 # # & 6 0 * & '# 67 6 3 2 3 2 8
Slide 9: - @$ % %0 # (% $ 0! @? $ 15.8% ' '7 '
- @$ % %0 1 # (% $ 0! 0 @? $ 15.8% 7 3 5 0 ' 2 '7 7 ' 77 & 6 77 7 7 - . /0 3 2 ' '# # ,1 8 $ 0! @? % 16.9% 5.1% 5 7 & 67 ' 6 & ' 7 07 3 2 3 2 9
Slide 10: * $ % %0 # C52 % $ # % $ ' ' 77
* $ % %0 1 # C52 % $ # % $ 3 7 2 3 02 5 52 6 07 ' 0 ' 7 6 0 77 - . /0 3 2 # '# 10
Slide 11: Update
Update Fibre Regulation Electricity Review Security of Supply Vector 7 11
Slide 12: "# # # : @ # %D% # E F # % * %
"# # # : @ # %D% # E F # % * % 8 8G(" # % ) % 12
Slide 13: Regulation
Vector (7 Regulation «» Input methodologies decision due at the end of the year «» CPI adjustment delayed until 2012 13
Slide 14: Electricity Review
Vector 7 Electricity Review » The market must be credible « Level playing field required in respect of access to the wholesale market 14
Slide 15: Security of supply
Vector (7 Security of supply = An area of focus « Transmission events and generation outages are a concern « Working closely with the industry 15
Slide 16: Financial Results
Vector 7 Financial Results Alex Ball Chief Financial Officer 16
Slide 17: ( A $ B % %0 # $ ' 101 ( !4 *1 89!*
( A $ B % %0 1 # $ 5 610 621 ' 3 2 7 6 313 310 0 136 147 91 101 ( !4 *1 89!* 89 * # # # # 17
Slide 18: Contributors to group EBITDA movement
Vector (7 Contributors to group EBITDA movement (continuing operations) ($m) 325 Za Decrease 320 5 ais | 313 13 7 310 310 | 7 5 Dec-08 Electricity Gas transportation Gas wholesale Technolocy Corporate Dec-09 305 4 300 + 18
Slide 19: $ A $ B % %0 # "2 ( ( 2* !" !5 +!
$ A $ B % %0 1 # "2 2 ( 3 ( 0 2* !" !5 +! 4! 6 3 0! " 4! ! ) *!" " 7* 5 $ " "! ( 3' 0 ' 02 A 6B ' $ A B A 5B A 56B A 0B A 2B 6 A 0 B % !4 *1 36 3' 6 ' A 3B ) 0 F( '6= 30= 7 2= 0 '3= 0 8I 8I 7 = !4 * 63 5 0' A 06B ) 06 6 6 3 0 ) 35 ( 3 ( 4! ! ) *!" " +! 4! 3 "2 2 0 2* !" !5 0! " 67 * 5 $ " "! ( 50 25
Slide 20: % %% %A B J % %0 < + * " 0=7 0= &
1 % %% %A B J % %0 < + 4 * " 0=7 0= 57 & & & & & & % % % % % %% 0 9 # 6 20
Slide 21: -A B % %0 # $ " "! +* , ' A 2'B (
-A B % %0 1 # $ " "! +* 5 , 0 ' 0 A 2'B ( ! " !89 2! 5 !4 ! ) A 0B 0 4 2 ! 9 ! ! 5' 5 ' !. :! ; 5 2 4 " '6 3 6' 7* A 0B 3 A B 74 52 * 8 "!: 7+ 60 27 63 - 4"2 24 A 62B A 6'B A 0B .9 9 !< 2 ! * *!" 9 A 5 B A '3B A 6B 3 6 ( !: * 2 4 A 6'B A '6B 3 , 39 8 2 52 * 8 "!: 5' 5 72 - 9 2 ! !8 9 A '3B A 5' B '2
Slide 22: 3I " J 6 A B
0 1 # 3I 2 ! $ % 2 3 " J 8 1# / 0 ' 7 0 63' ? I * F 03= 07= 05= 1 #A BI 1 #A BK ? F 7 = 7 77= 3 76= 5 4 A B L = 2 6A B = 0A B = (1) Net debt (2) Based on results from continuing operations. 22
Slide 23: Simon Mackenzie, Group Chief Executive Officer
Vector 7 Simon Mackenzie Group Chief Executive Officer 23
Slide 24: % ) %89 * $ - $ % % % % + $ -
% ) %89 * $ - $ % % % 4 % + $ - # - % # ($ " 24
Slide 25: 25
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