Tokyo Electric Power Company Holdings, Incorporated · TSE:9501
Tokyo Electric Power — H1 FY2006 Earnings Presentation
20 slides from Tokyo Electric Power's earnings presentation, Oct 31, 2006
Slide 1: FY 2006 Interim Financial Results Presentation
FY 2006 Interim Financial Results (April 1, 2006 – September 30, 2006) Presentation October 31, 2006 Katsutoshi Chikudate Executive Vice President Tokyo Electric Power Company The Tokyo Electric Power Company, Inc. All Rights Reserved ©2006
Slide 2: Regarding Forward-Looking Statements (Performance Projections)
Regarding Forward-Looking Statements (Performance Projections) Certain statements in the following presentation regarding Tokyo Electric Power Company’s business operations may constitute “forward-looking statements.” As such, these statements are not historical facts but rather predictions about th
Slide 3: Table of Contents
Table of Contents 2 FY 2006 Interim Results Summary (Consolidated and Non-consolidated) 3 Comparison of Performance Projections and Actual Performance 4 Statement of Income (Consolidated) 5 Revenues Breakdown (Non-consolidated) 6 Expenses Breakdown (Non-consolidated) 7 Year-on-Year Comparison of Ord
Slide 4: FY 2006 Interim Results Summary (Consolidated and Non-consolidated)
FY 2006 Interim Results Summary (Consolidated and Non-consolidated) 3 (Upper and lower rows show consolidated and non-consolidated figures, respectively) (Unit: Billion yen) 1st half 1st half Comparison FY 2006(A) FY 2005(B) (A)-(B) (A)/(B)(%) Electricity Sales Volume (Billion kWh) 144.6 143.8 0.8 1
Slide 5: Comparison of Performance Projections and Actual Performance
Comparison of Performance Projections and Actual Performance 4 Comparison of Performance Projections and Actual Performance (Upper and lower rows show consolidated and non-consolidated figures, respectively) (Unit: Billion yen) Operating revenues Operating income Ordinary income Net interim income F
Slide 6: Statement of Income (Consolidated)
Statement of Income (Consolidated) 5 Statement of Income (Unit: Billion yen) 1st half 1st half Comparison FY 2006(A) FY 2005(B) (A)-(B) (A)/(B) (%) Operating revenues 2,603.8 2,552.6 51.1 102.0 Operating expenses 2,262.8 2,290.2 -27.4 98.8 Operating income 341.0 262.3 78.6 130.0 Non-operating revenu
Slide 7: Revenues Breakdown (Non-consolidated)
Revenues Breakdown (Non-consolidated) 6 Revenues Breakdown (Unit: Billion yen) 1st half 1st half Comparison FY 2006(A) FY 2005(B) (A)-(B) (A)/(B) (%) Ordinary revenues 2,495.8 2,413.6 82.1 103.4 Operating revenues 2,481.6 2,399.4 82.2 103.4 Electric power operating revenues 2,451.2 2,380.7 70.4 103.
Slide 8: Expenses Breakdown (Non-consolidated)
Expenses Breakdown (Non-consolidated) 7 Expenses Breakdown (Unit: Billion yen) 1st half 1st half Comparison FY 2006(A) FY 2005(B) (A)-(B) (A)/(B) (%) Ordinary expenses 2,249.4 2,238.8 10.6 100.5 Operating expenses 2,168.2 2,153.3 14.9 100.7 Electric power operating expenses 2,120.3 2,116.3 4.0 100.2
Slide 9: Year-on-Year Comparison of Ordinary Expenses – 1 (Non-consolidated)
Year-on-Year Comparison of Ordinary Expenses – 1 (Non-consolidated) 8 Personnel expenses (¥224.3 billion to ¥210.2 billion) -¥14.1 billion Retirement benefits -¥14.7 billion Decrease in amortization of actuarial difference (-¥9.8 billion to -¥21.6 billion) -¥11.8 billion Amortization of actual diffe
Slide 10: Year-on-Year Comparison of Ordinary Expenses – 2 (Non-consolidated)
Year-on-Year Comparison of Ordinary Expenses – 2 (Non-consolidated) 9 Maintenance expenses (¥240.9 billion to ¥225.5 billion) -¥15.3 billion Generation related (¥125.7 billion to ¥114.8 billion) -¥10.8 billion Hydroelectric power (¥4.9 billion to ¥6.7 billion) +¥1.7 billion Thermal power (¥48.1 bill
Slide 11: Year-on-Year Comparison of Ordinary Expenses – 3 (Non-consolidated)
Year-on-Year Comparison of Ordinary Expenses – 3 (Non-consolidated) 10 Purchased power (¥308.4 billion to ¥331.0 billion) +¥22.6 billion Inter-company power purchases (¥117.4 billion to ¥117.4 billion) +¥0.0 billion Purchases of power from other companies (¥190.9 billion to ¥213.5 billion) +¥22.6 bi
Slide 12: Balance Sheets (Consolidated and Non-consolidated)
Balance Sheets (Consolidated and Non-consolidated) 11 Balance Sheets (Upper and lower rows show consolidated and non-consolidated figures, respectively) (Unit: Billion yen) 1st half Comparison FY 2005(B) FY 2006(A) (A)-(B) (A)/(B) (%) 13,417.6 13,594.1 -176.5 98.7 Adjustment* +¥150.7 billion Total a
Slide 13: Free Cash Flow and its Application (Consolidated and Non-consolidated)
Free Cash Flow and its Application (Consolidated and Non-consolidated) 12 Free Cash Flow (Upper and lower rows show consolidated and non-consolidated figures, respectively) (Unit: Billion yen) 1st half 1st half Comparison FY 2006(A) FY 2005(B) (A)-(B) (A)/(B) (%) Net cash provided by 511.1 439.3 71.
Slide 14: Segment Information
Segment Information 13 Segment Information (Unit: Billion yen) Information and Telecommunications 1st half 1st half Comparison FY 2006(A) FY 2005(B) (A)-(B) (A)/(B) (%) Fiber-Optics Network Company, R:13.5(+4.6), I:-18.9(-1.1) Operating revenues 2,603.8 2,552.6 51.1 102.0 FUSION COMMUNICATIONS CORP.
Slide 15: Fiber-Optics Network Company
Fiber-Optics Network Company 14 Fiber-Optics Network Company (Unit: Billion yen) 1st half 1st half Comparison FY 2006 FY 2005 (A)-(B) (A)/(B) (%) Operating revenues 13.5 8.9 4.6 151.6 Operating income -18.9 -17.8 -1.1 Capital expenditures 11.2 14.6 Number of subscribers approx. 350,000 approx. 200,0
Slide 16: Gas Business Company
Gas Business Company 15 Gas Business Company (Unit: Billion yen) 1st half 1st half Comparison FY 2006 FY 2005 (A)-(B) (A)/(B) (%) Operating revenues 12.8 6.4 6.3 199.1 Operating income 1.6 -0.0 1.7 Gas sales volume approx. 250,000 tons approx.170,000 tons* Total sales volume of FY2005 was approx. 35
Slide 17: Performance Outlook for FY 2006
Performance Outlook for FY 2006 16 Performance Outlook (Upper and lower rows show consolidated and non-consolidated figures, respectively) (Unit: Billion yen) Operating revenues Operating income Ordinary income Net income FY 2006 5,300.0 525.0 410.0 290.0 Present projection 5,020.0 475.0 350.0 260.0
Slide 18: Reference: Business Management Plan Targets and Performance
Reference: Business Management Plan Targets and Performance 17 (Fiscal year) 2006 FY 2006 Business 2001 2002 2003 2004 2005 1st half full year Management Plan (actual) (projection) FY 2006-2008 Targets Profit and Free Cash Flow (FCF) Targets ROA 4.5 3.6 3.5 4.1 4.2 2.5 At least 4% At least 4% (%) 4.
Slide 19: Reference: Key Factors Affecting Performance and Financial Impact
Reference:Key Factors Affecting Performance and Financial Impact 18 Key Factors Affecting Performance FY 2006 FY 2006 projection FY 2005 actual 1st half present (previous) 1st half FY2005 Foreign exchange rate (Interbank; yen per dollar) 115.39 118 (118) 109.53 113.32 Crude oil prices (All Japan CIF
Slide 20: Reference: Total Power Generated and Purchased and Electricity Sales Volume
Reference: Total Power Generated and Purchased and Electricity Sales Volume 19 Total Power Generated and Purchased Average Monthly Temperature (Units: Billion kWh, % ) 1st 2nd 1st half (Unit: ) Quarter Quarter FY 2006 July August September 72.38 83.74 156.12 Total power generated and purchased FY 20
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