Duke Energy Corporation (holding Company) · NYSE:DUK
Duke Energy Corporation (holding Company) — Merger or Acquisition (May 2004)
7 slides from Duke Energy Corporation (holding Company)'s merger presentation, May 5, 2004
Slide 1: Sale of DENA's Southeast Merchant Generation Plants
Sale of DENA’s Picture(s) here Southeast Merchant Generation Plants David Hauser Group Vice President and CFO Greg Ebel Vice President, Investor and Shareholder Relations
Slide 2: Safe Harbor Statement
Safe Harbor Statement Under the Private Securities Litigation Act of 1995 This document contains forward looking information which is subject to risks and uncertainties, including, but not limited to, changes in the utility regulatory environment, the impact of competition from other energy supplier
Slide 3: DENA Southeast Assets Sold
DENA Southeast Assets Sold DENA PLANTS Combined Cycle Peaker (Simple Cycle) Marshall Combined Simple SERC Region Net MW Cycle Cycle Southaven New Albany Murray Hot Spring 620 - Hot Spring Marshall - 640 Sandersville Hinds Enterprise Southaven - 640 New Albany - 385 Enterprise - 640 Hinds 520 - Murra
Slide 4: Key Terms of Transaction
Key Terms of Transaction ● Reached an agreement to sell the SE plants to KGen Partners, owned by MatlinPatterson Global Opportunities Partners II ● Sales proceeds of $475 million ● $425 million in cash and $50 million note ● Regulatory approvals needed ● FERC ● Hart-Scott-Rodino (HSR) ● No state com
Slide 5: Key Financial Implications
Key Financial Implications Asset Sales Earnings ● 2004 asset sales proceeds will ● First quarter 2004 reported EPS will be now reach approximately $2 approximately 3¢ lower due to additional billion, exceeding original target of loss reported on this sale; ongoing $1.5 billion earnings remains at 32
Slide 6: Summary
Summary ● Sale of southeast generation assets is a major step towards improving DENA’s performance and lowering its risk profile ● Total cash proceeds from assets sales for Duke Energy expected to be about $2 billion in 2004 ● Exceeding original plan of $1.5 billion ● Additional cash savings of abou
Slide 7: Duke Energy Corporation Reg G Reconciliation
Duke Energy Corporation Reg G Reconciliation 05-05-2004 Webcast – Sale of Southeast assets Exhibit 1: DENA loss projection The Company's prepared remarks include a discussion of DENA's 2004 EBIT loss projection, which are non-GAAP financial measures as defined under SEC Regulation G. DENA's $300 mil