Electric Power Development Co., Ltd. · TSE:9513
Electric Power Development — Q2 FY2011 Earnings Presentation
32 slides from Electric Power Development's earnings presentation, Oct 29, 2010
Slide 1: 2011年3月期 第2四半期決算説明資料
2011 3 22 2 22 22 10 10 29 29
Slide 2: kWh
WS POWER kWh
Slide 3: Contents
. 2011 3 22 2 4 4 4 5 4 6 4 7 4 8 4 9 4 10 . 2011 3 22 4 12 4 13 4 14 4 15 Appendix 2
Slide 4: Results overview
WS POWER 2011 3 22
Slide 5: Consolidated results summary
4 9 9 22 21 2 2 2 4-9 4-9 4-9 % * 3,080 3,111 2,731 379 13.9% 2,850 2,897 2,493 403 16.2% 320 450 227 223 98.1% 340 423 204 219 107.5% 260 366 192 173 90.4% 250 340 122 217 177.5% 90 142 140 2 1.6% 100 140 86 53 61.4% * 2 22 7 30 2 2 22 10 29 4
Slide 6: Results by segment
22 21 2 4-9 (%) 4-9 kWh 321 240 80 33.6% 4 63 48 14 30.1% +1 252 185 67 36.3% 9 IPP PPS 5 6 -1 -16.8% 9 21 9 3,111 2,731 379 13.9% 584 583 1 0.3% 1,973 1,580 393 24.9% 4 IPP PPS 58 71 -12 -17.6% +393 271 271 0 0.1% 9 9 222 225 -2 -1.2% (%) 108% 83% 25 ― (%) 73% 54% 19 ― /US$ 89 96 -7 ― 5
Slide 7: Ordinary income factors
+223 8 8 8 8 8 400 460 +173 8 +2 8 8 IPP 6
Slide 8: Consolidated income statement
22 21 2 2 4-9 4-9 3,111 2,731 379 2,898 2,511 386 212 219 -6 2,660 2,503 156 2,426 2,261 164 149 180 -31 1,001 816 184 257 230 27 143 136 6 530 578 -48 344 318 25 234 242 -8 450 227 223 50 92 -42 31 61 -30 18 30 -12 134 127 6 111 114 -2 22 12 9 366 192 173 7
Slide 9: Segment results
22 2 4-9 * 2,913 1,439 6 125 4,486 -1,375 3,111 303 26 9 13 352 13 366 ¾ 22 3 4 IPP PPS * 8
Slide 10: Cash flows
4 2 +123 113 +100 +50 22 21 2 2 4-9 4-9 A 529 647 -118 B -405 -637 231 -121 -44 -76 A+B) 123 9 113 9
Slide 11: Balance sheet
4 33 4 20.3 0.1 22 21 2 18,492 18,798 -305 12,148 12,266 -118 555 496 58 2,842 3,097 -254 422 386 35 2,524 2,551 -26 1,781 1,442 338 20,274 20,240 33 14,455 14,525 -70 1,684 1,565 118 16,139 16,090 48 19 23 -3 4,115 4,126 -11 4,134 4,149 -15 20,274 20,240 33 D/E 3.5 3.5 20.3% 20.4% 10
Slide 12: Forecasts
WS POWER 2011 3 22 11
Slide 13: Full-year forecast summary
4 2 22 21 * * 6,310 6,260 5,844 465 50 5,790 5,730 5,304 485 60 570 540 489 80 30 520 490 409 110 30 440 410 416 23 30 330 300 237 92 30 210 190 291 -81 20 150 130 163 -13 20 22 35 35 70 * 22 7 30 12
Slide 14: Forecast assumptions and details
22 21 * * kWh 640 598 572 68 42 4 +0 103 95 92 10 7 9 522 487 465 57 35 9 21 9 6,310 6,260 5,844 465 50 1,090 1,080 1,089 0 10 4 4,040 3,880 3,496 543 160 +543 9 105% 100% 96% 9 5 9 76% 71% 68% 8 5 /US$ 90 90 93 -3 * 22 7 30 13
Slide 15: Forecast ordinary income factors
+80 +23 CO2 * 600 +30 50 550 +25 25 +70 CO2 30 500 30 450 +60 25 +30 400 440 416 410 350 21 22 * 22 7 30 14
Slide 16: IPP/SPP business developments
4 2 34 24 90 / 4 4,000 160 22 6 96MW 3,500 140 4 113 3,000 120 22 7 1,600MW 2,500 100 85 PPA 78 2,000 80 53 22 10 SPP 7 780MW 1,500 60 EPC 34 1,000 40 500 20 / / 22 2 88.5 2.7 0 0 22 90 2.8 18 19 20 21 22 22 2Q * 22 15
Slide 17: APPENDIX
WS POWER APPENDIX 16
Slide 18: APPENDIX contents
APPENDIX 4 18 4 1 19 4 IPP SPP 20 4 21 4 22 4 23 4 24 4 25 4 26 4 27 4 28 4 29 4 30 17
Slide 19: 25.9%
25.9% 22 10 20 26 11 22 9 18
Slide 20: Power plant capacity
1 1 250MW 2 350MW 600MW 1 43 2 36 SOx NOx 1 2 3 250MW 350MW 700MW 42 49 58 1 600W 26 32 19
Slide 21: IPP/SPP overseas projects
IPP SPP IPP 19 12 PDP 2007 1,600MW 800MW×2 20 10 IPP PPA EGAT IPP 21 3 PDP2007 1 1,600MW 800MW×2 21 11 SPP 7 PPA EGAT SPP 7 22 7 780MW 110MW×6 120MW×1 PPA 22 10 SPP 7 3,980MW EPC *SPP Small Power Producers 1 2 1992 20
Slide 22: 1,800 1,500 1,200 1 22 23 9 9 9 9 * 22 21
1,800 1,500 1,200 900 600 300 0 12 13 14 15 16 17 18 19 20 21 22 23 9 9 9 9 * 22 21
Slide 23: 2,000 1,563 1,234 1,154 1,120 1,016 1,000 11 162 (1,000) (a) (b) (a)+(b) (2,000)
2,000 1,563 1,234 1,154 1,120 1,016 1,000 262 396 100 18 0 211 162 (1,000) (a) (b) (a)+(b) (2,000) 12 13 14 15 16 17 18 19 20 21 22 * 22 22
Slide 24: Financial data [EBITDA]
5,732 5,877 7,049 5,844 2,731 3,111 [EBITDA] 1 2,002 1,657 1,717 1,692 825 1,001 771 507 571 489 227 450 555 428 395 416 192 366 351 293 194 291 140 142 4,611 4,663 3,801 4,126 4,030 4,115 19,997 20,131 20,054 20,240 20,224 20,274 14,215 14,238 14,707 14,525 14,733 14,455 1,572 1,362 1,586 1,691 647
Slide 25: Financial indicators
9.7% 7.3% 5.6% 7.1% 7.0% 11.8% (%) 23.1% 23.2% 19.0% 20.4% 19.9% 20.3% / 3.1 3.1 3.9 3.5 3.7 3.5 E(%) 1 7.9% 6.3% 4.6% 7.4% - - (%) 2 2.8% 2.1% 2.0% 2.1% - - ( ) 211.14 175.99 121.65 194.26 93.38 94.90 ( ) 2,768.95 2,800.18 2,533.28 2,750.20 2,686.00 2,742.50 1 ROE= / 2 ROA= / 3 18 3 1 1 1.2 t) 1,85
Slide 26: Generation and sales data
( kWh) 58,672 60,786 57,532 55,760 23,384 31,581 10,633 8,287 8,384 9,214 4,874 6,344 48,039 52,499 49,147 46,546 18,509 25,236 1,657 1,682 1,616 1,477 681 567 60,329 62,469 59,148 57,238 24,066 32,148 4,500 4,572 5,712 4,586 2,163 2,558 1,234 1,145 1,109 1,089 583 584 3,265 3,427 4,603 3,496 1,580
Slide 27: Income statement history
5,732 5,877 7,049 5,844 2,731 3,111 5,237 5,317 6,483 5,302 2,511 2,898 494 560 565 541 219 212 4,961 5,370 6,478 5,355 2,503 2,660 4,444 4,778 5,888 4,786 2,261 2,426 272 377 436 362 180 149 1,498 1,915 2,643 1,780 816 1,001 411 304 514 444 230 257 317 302 332 320 136 143 1,185 1,103 1,101 1,160 57
Slide 28: 465 kWh 252 kWh
4 2009 4 - 2010 3 4 2010 4 - 2010 9 68 73 465 kWh 252 kWh 27
Slide 29: 92 kWh 63 kWh
4 2009 4 - 2010 3 4 2010 4 - 2010 9 96 108 92 kWh 63 kWh 28
Slide 30: WS POWER
WS POWER tH 29
Slide 31: IPP PPS kWh IPP PPS
4 IPP PPS 4 IPP PPS 2009 4 - 2010 3 2010 4 - 2010 9 14 kWh 5 kWh 30
Slide 32: http://www.jpower.co.jp/
http://www.jpower.co.jp/ 31
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