Electric Power Development Co., Ltd. · TSE:9513

Electric Power Development — Q3 FY2017 Earnings Presentation

34 slides from Electric Power Development's earnings presentation, Jan 31, 2018

  1. Slide 1: 2018年3月期 第3四半期決算説明資料

    2018 1 31 0

  2. Slide 2: kWh

    SW PowER kWh

  3. Slide 3: Contents

    .2018 3 29 3  4  5  7  8  9 .2018 3 29  11  12  13 APPENDIX 14 2

  4. Slide 4: SW PowER

    SW PowER 2018 3 29

  5. Slide 5: Q3 results summary

    2016 2017 3 3 5,309 6,346 1,036 19.5% 709 1,000 291 41.0% 632 1,007 374 59.2% 445 656 210 47.3% 2016 2017 3 3 3,822 4,587 765 20.0% 369 552 183 49.5% 690 698 8 1.2% 603 546 -56 -9.4% 2016 2017 3 3 1,345 1,670 324 24.2% * 4

  6. Slide 6: Electric power sales volume and operations

    [ ] 2016 2017 3 3 kWh 466 501 35 7.6% 65 71 6 9.9% 395 424 28 7.3% 5 5 0 4.9% 113 115 2 1.8% [ ] 93% 102% + 9 74% 79% + 5 *1 *2 5

  7. Slide 7: Revenues and exchange rates

    2016 2017 3 3 5,309 6,346 1,036 19.5% 3,929 4,705 776 19.8% 3,544 4,293 749 21.1% 367 365 -2 -0.6% *1 1,033 1,186 153 14.8% *2 346 454 107 31.1% /US$ 9 101.12 112.73 /THB 9 2.91 3.38 THB/US$ 9 34.70 33.37 /US$ 106.60 111.69 *1 *2 6

  8. Slide 8: Ordinary income change analysis

    1,200 +80 100 +45 +35 1,000 +5 +60 +10 +45 +195 800 600 1,007 400 632 200 / - 2016 2017 3Q 3Q 7

  9. Slide 9: Consolidated income statement

    2016 2017 3 3 5,309 6,346 1,036 3,929 4,705 776 1,033 1,186 153 346 454 107 4,600 5,346 745 709 1,000 291 178 235 57 82 86 3 54 88 34 40 59 19 254 228 -26 214 213 -0 40 15 -25 632 1,007 374 - 28 28 445 656 210 8

  10. Slide 10: Consolidated balance sheet

    ( ) 2017 2016 3 22,710 22,773 63 9,587 9,439 -147 3,320 3,365 45 925 938 13 4,761 4,946 185 736 738 1 3,379 3,344 -34 3,352 3,767 414 26,062 26,540 477 16,200 15,910 -290 2,221 2,306 84 18,422 18,217 -205 6,895 7,423 528 342 409 67 402 489 87 7,640 8,323 683 D/E 2.2 2.0 (%) 27.8% 29.5% 9

  11. Slide 11: SW PowER

    SW PowER 2018 3 29 10

  12. Slide 12: FY2017 forecast and EBITDA

    2016 2017 2017 * 7,444 8,580 1,135 15.3% 8,280 300 817 1,060 242 29.7% 950 110 671 1,050 378 56.4% 810 240 414 730 315 76.2% 580 150 2016 2017 2017 * 5,224 6,120 895 17.1% 6,020 100 276 440 163 59.2% 380 60 564 570 5 0.9% 500 70 515 480 -35 -6.9% 450 30 2016 2017 2017 * J-POWER EBITDA 1,706 1,930 22

  13. Slide 13: Forecast by segment and assumptions

    2016 2017 2017 2016 2017 2017 *4 kWh 92% 102% 96% 627 667 39 6.2% 657 9 75% 80% 79% 85 91 6 7.3% 86 4 12 535 567 32 6.1% 562 4 /USD 116.49 113 115 7 8 0 6.8% 8 0 /THB 3.24 3.45 3.2 146 158 11 8.0% 143 15 THB/USD 35.83 32.68 35.83 7,444 8,580 1,135 15.3% 8,280 300 /USD 108.34 112 113 5,385 6,274 889

  14. Slide 14: Ordinary income forecast change analysis

    (2017 10 31 ) +180 45 20 +40 50 +65 15 +110 125 810 671 2016 1 2 3 4 5 6 7 73 72 2017 800 +110 120 600 +105 +230 40 +15 +50 40 +70 400 1,050 671 200 - 2016 1 2 3 4 5 6 7 8 9 2017 +50 +5 +35 +10 +10 +5 +120 - +5 +240 13

  15. Slide 15: SW PowER

    SW PowER 14

  16. Slide 16: APPENDIX IGCC

    APPENDIX  16  17  18  21  : IGCC 23  24  25  26  27  28  29 15

  17. Slide 17:   茨  

      茨   16

  18. Slide 18: Ohma nuclear project ABWR MOX

     2014 12 16   1,383MW ABWR MOX 12 5 10 2008 2009 2010 2011 2012 2013 2014 2015 4 3 2017 12 17

  19. Slide 19: WS PowER

    WS PowER |_| v 2018 2023 v 1,300 Peace SESE BABS | BRECK, BH HEROS | AAMT EBESEEOR REG REROME | | tok MaOkeit TTMBELAVV SRA FOB BBW ERA BST ME BID OM Rt *ME oe —- 44> I PIAS I bORa I b-e emit Reet ow / # = N= are , ! set ne weapaaicetin |B + pe” xs PAM ACTP.H1nt ra BREE 7 ' +r ATE ay H — ln H it | T

  20. Slide 20: WS PowER

    WS PowER |_| dh eS Rt BH Aie VI=Fa—-k FL— hE AEH PARoOMR* Mw8.3 AE MAPASIAME M7.5 BFIL—-+AME BE+BPMASIAME M8.2 REBAMRIICk£SitRz M75 AEM RAH Re F-14 Blck Si M6.7 XK: FEM 234F (2011) RAMA AL J SPMREWEA, =EPILMBO WRLF RBROOT BHR URE IPO HO 3M (Mw90) [SOWT, RHDSOBRELT . DEH 142 143 le x, | | SERA PASIAM

  21. Slide 21: WS PowER

    WS PowER 2011 \\\8 RA RRA ZAR EF IL Mw8. 2 fi “fl G 7 -HaLeR BARR EFL Mw9. 0 AIAG } BAT AUR ; { ) 7B ISL 7 BT IS « Bae 1 OD A ABER - ABEL SY « KLUB SR (LUA BA ER) Lok mat 9 BETSY e 20

  22. Slide 22: Overseas IPP business and PJM market

    2017 12 MW MW 2,000 680 2,000 34% 680 25 2020 926 232 1 926 25% 232 PJM 2 2018 (MW) MW 8,000 6,000 3,300 - 3,300 1,785 232 2,016 4,000 944 - 944 2,000 656 680 1,336 6,685 912 7,596 - '10 '11 '12 '13 '14 '15 '16 *1 CCGT Combined Cycle Gas Turbine : *2 PJM Independent System Operator DC 21

  23. Slide 23: US IPP business in PJM

    2017 12 • 2011 IPP 2,000MW 1,000MW 2 • 34% • 25 1 2020 6 2 2020 12 • 2017 1 25% • 2018 926MW PJM*2 CCGT*1 25% • J 11 2018 200 *1 CCGT Combined Cycle Gas Turbine *2 PJM Independent System Operator DC 22

  24. Slide 24: IGCC demonstration project

    : IGCC IGCC IGFC CO2 : J-POWER 50% 50% 166MW : 1,180t/  IGCC : 2  IGFC : IGCC 2017 3 IGCC 23

  25. Slide 25: Consolidated results trend

    2013 2014 2015 2016 2016 3Q 2017 3Q 7,068 7,506 7,800 7,444 5,309 6,346 6,090 5,881 5,708 5,385 3,929 4,705 428 1,089 1,559 1,498 1,033 1,186 549 535 532 559 346 454 6,476 6,777 6,921 6,626 4,600 5,346 591 728 879 817 709 1,000 223 227 178 205 178 235 163 156 108 132 82 86 59 70 69 72 95 148 414 362

  26. Slide 26: Non-consolidated results trend

    2013 2014 2015 2016 2016 3Q 2017 3Q 5,828 5,579 5,523 5,224 3,822 4,587 765 5,729 5,485 5,430 5,109 3,739 4,496 757 5,167 4,953 4,902 4,579 3,341 4,072 730 562 532 527 529 397 424 27 99 93 93 115 83 90 7 5,423 5,133 5,107 4,948 3,452 4,035 582 5,334 5,049 5,023 4,842 3,374 3,949 574 298 285 318 436

  27. Slide 27: Segment information

    * 2017 4,718 2,813 1,186 171 8,890 -2,543 6,346 3Q 4,705 305 1,186 149 6,346 - 6,346 534 137 326 7 1,005 1 1,007 2016 3,941 2,387 1,033 154 7,517 -2,207 5,309 3Q 3,929 204 1,033 141 5,309 - 5,309 323 45 255 6 630 1 632 776 426 153 17 1,373 -336 1,036 776 100 153 7 1,036 - 1,036 211 91 71 0 374 -0 37

  28. Slide 28: Cash flow

    2013 2014 2015 2016 2016 3Q 2017 3Q 1,221 1,478 1,461 1,154 592 1,008 427 615 584 671 632 978 815 778 734 496 371 385 -1,773 -1,429 -1,315 -1,376 -871 -631 -957 -879 -375 -175 -135 -103 * -865 -611 -1,063 -998 -723 -388 -552 48 145 -222 -279 376 CF 2,000 1,500 1,000 500 - 2013 2014 2015 2016 * 27

  29. Slide 29: Key financial data

    2013 2014 2015 2016 2016 3Q 2017 3Q 7,068 7,506 7,800 7,444 5,309 6,346 591 728 879 817 709 1,000 400 593 585 671 632 1,007 286 432 400 414 445 656 23,852 26,591 25,407 26,062 24,949 26,540 5,126 5,069 4,410 4,761 4,660 4,946 5,162 6,887 6,665 7,238 6,767 7,833 5,194 6,962 6,754 7,640 7,077 8,323 16

  30. Slide 30: Sales volume kWh

     2016 4 - 2016 12  2017 4 - 2017 12 74 79 395 kWh 424 kWh * 29

  31. Slide 31: Sales volume kWh

     2016 4 - 2016 12  2017 4 - 2017 12 93 102 65 kWh 71 kWh 30

  32. Slide 32: Sales volume kWh

     2016 4 - 2016 12 5.2 kWh  2017 4 - 2017 12 5.5 kWh 31

  33. Slide 33: Capacity utilization rates

    200% 150% 100% 50% 0% 4 5 6 7 8 9 10 11 12 1 2 3 4 - 12 106% 104% 102% 115% 134% 85% 106% 169% 93% 110% 102% 107% 125% 124% 114% 91% 99% 94% 112% 107% 104% 95% 92% 85% 123% 133% 88% 116% 112% 105% 103% 106% 121% 122% 116% 91% 100% 101% 110% 108% 32

  34. Slide 34: jpower.co.jp

    http://www.jpower.co.jp/ 33

Electric Power Development Co., Ltd. (J-POWER) — Q3 FY2017 Earnings Presentation on 6ix