Contact Energy Limited · NZX:CEN
Contact Energy — Shareholder Meeting (February 2005)
41 slides from Contact Energy's shareholder meeting presentation, Feb 15, 2005
Slide 1: Contact
F:. CONTACT
Slide 2: Annual General Meeting 15 February 2005
Annual General Meeting 15 February 2005
Slide 3: Meeting Agenda
Meeting Agenda • Chairman’s Introduction • Chief Executive’s Review • Financial Statements • Shareholder Questions • Resolutions 1 to 8 • General Business
Slide 4: Shareholder Voting Paper
SHAREHOLDER VOTING PAPER (For use if a poll is taken) Business 1 . To authorise the directors to fix the auditors’ remuneration. . To elect Grant King as a director. . To elect Bruce Beeren as a director. . To elect Karen Moses as a director. . To re-elect Timothy Saunders as a director. . To adopt
Slide 5: CONTACT
F:. CONTACT
Slide 6: Chairman's Address
F: CONTACT Chairman’s Address
Slide 7: Share Price Performance
$ Share 4.00 4.50 5.00 5.50 6.00 6.50 7.00 1/10/2003 16/10/2003 3/11/2003 18/11/2003 3/12/2003 18/12/2003 8/01/2004 NZX50 benchmark 23/01/2004 Contact Share Price 10/02/2004 25/02/2004 11/03/2004 26/03/2004 Contact, with Dividend Reinvestment 14/04/2004 29/04/2004 14/05/2004 31/05/2004 16/06/2004 1/
Slide 8: Progress on Strategic Issues
Progress on Strategic Issues • Renewal of resource consents for Clutha and Wairakei • Contracting to refueling gas fired plant until the end of the decade • Encouraging gas exploration • Progressing LNG option • Positive Energy campaign
Slide 9: CONTACT
F:. CONTACT
Slide 10: New Investment
New Investment Economic growth is driving …which will require at least $6 demand growth… billion in new investment over 10 years. Transmission 200 Energy consumption GDP 150 Generation Upstream 100 1973 1983 1993 2003
Slide 11: Electricity Outlook
Electricity Outlook 60000 New Capacity 50000 E3P 40000 Committed Renewables Thermal Capacity GWh/a 30000 Cogen Wind 20000 Geothermal 10000 Dry Year Hydro Demand 0 2010 2004 2005 2007 2008 2011 2012 2013 2014 2015 2006 2009
Slide 12: Gas Outlook
Gas Outlook NZ Gas Supply/Demand Forecast - Feb 2005 (PUBLIC DATA) 300 Kupe Pohokura 250 Maui Mangahewa 200 Kapuni McKee PJ/annum 150 TAW Rimu/Kauri 100 Minor Fields Demand (Reduced Methanex 50 Consumption) Demand (excl Petrochemical) 0 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 201
Slide 13: LNG Backstop
LNG Backstop Potential 1. Push forward cost effective renewables gap 2. Support National Exploration Activity 3. Create coal or LNG backstop 4. Use backstop if needed 2003 2007 2010
Slide 14: CONTACT
F:. CONTACT
Slide 15: Regulatory Priorities
Regulatory Priorities • Supporting gas exploration • Timely transmission upgrades • Balancing national and local interests in RMA consent process
Slide 16: CONTACT
F:. CONTACT
Slide 17: Earnings and Dividend Performance
Earnings and Dividend Performance 30 25 20 c / share Earnings 15 Dividend 10 5 0 2000 2001 2002 2003 2004 Financial Year
Slide 18: CONTACT
F:. CONTACT
Slide 19: Chief Executive's Review
SF. CONTACT Chief Executive’s Review
Slide 20: Q1 Results
Q1 Results Quarter ended 31 December Quarter ended 31 December 2004 2003 Net surplus : 7 Er, Operating expenses EBITDA shareholders’ equity (Searing conTacTt
Slide 21: CONTACT
F:. CONTACT
Slide 22: Wholesale Electricity Prices
Wholesale Electricity Prices 100 80 60 $ / MWh 40 20 0 2000 2001 2002 2003 2004 Financial Year
Slide 23: Contact Today
Contact Today • New Majority Shareholder - Origin Energy • $1 billion in new gas contracts and plant upgrades • Important consent milestones for Clutha and Wairakei • Established LNG as a viable back stop option • Future energy options campaign • Focus on investing in New Zealand
Slide 24: Contact Generation Additions
Contact Generation Additions • Full production at Wairakei and Poihipi, 35MW • New drilling at Ohaaki, 15MW to 25MW • Wairakei Binary Plant, 15MW • New generation at Hawea Gates, 16MW • Upgrades to Otahuhu B and TCC, 24MW
Slide 25: CONTACT
F:. CONTACT
Slide 26: Positive Energy
Positive Energy -—--'" conTacTt
Slide 27: Healthy Homes
Healthy Homes conTacTt
Slide 28: CONTACT
F:. CONTACT
Slide 29: Financial Statements
F: CONTACT Financial Statements
Slide 30: Shareholder Questions
F: CONTACT Shareholder Questions
Slide 31: Resolutions
F: CONTACT Resolutions
Slide 32: Resolution 1: Auditors
Resolution 1: Auditors “That Contact’s Board of Directors be authorised to fix the auditor’s remuneration.”
Slide 33: Resolution 2: Election of Director
Resolution 2: Election of Director “That Grant King be elected as a director of Contact.”
Slide 34: Resolution 3: Election of Director
Resolution 3: Election of Director “That Bruce Beeren be elected as a director of Contact.”
Slide 35: Resolution 4: Election of Director
Resolution 4: Election of Director “That Karen Moses be elected as a director of Contact.”
Slide 36: Resolution 5: Re-election of Director
Resolution 5: Re-election of Director “That Tim Saunders be re-elected as a director of Contact.”
Slide 37: Resolution 6: New Constitution
Resolution 6: New Constitution “That the constitution tabled at the meeting and signed by the Chairman of the meeting for the purpose of identification, be and is adopted as the constitution of the company, in substitution for the present constitution of the company.”
Slide 38: Resolution 7: Shareholder Proposal
Resolution 7: Shareholder Proposal Resolution 7, proposed by Mr Bulling, is: “That the company, and its subsidiaries, not make donations to, or provide financial assistance to any political party or political organisation, unless approved by shareholders at an annual meeting.”
Slide 39: Resolution 8: Shareholder Proposal
Resolution 8: Shareholder Proposal Resolution 8, proposed by Mr Bulling, is: “That all donations, sponsorships and similar distributions made by the company, and its subsidiaries, be disclosed in the Annual Report. Such disclosure to be by way of listing the recipient of the funds, the amount, and t
Slide 40: Shareholder Discussion
F: CONTACT Shareholder Discussion
Slide 41: Contact
F:. CONTACT