Tokyo Electric Power Company Holdings, Incorporated · TSE:9501
Tokyo Electric Power — H1 FY2005 Earnings Presentation
24 slides from Tokyo Electric Power's earnings presentation, Nov 9, 2005
Slide 1: FY2005 Interim Results Presentation
FY2005 Interim Results (April 1, 2005 – September 30, 2005) Presentation November 9, 2005 Tsunehisa Katsumata President Tokyo Electric Power Company
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 FY2005 Interim Results Summary (Consolidated and Non-consolidated) 3 Comparison of Performance Projections and Actual Performance 4 Performance Outlook for FY2005 5 Income Statement Explanation - Revenues (Non-consolidated) 6 Income Statement Explanation - Expenses (Non-consolida
Slide 4: FY2005 Interim Results Summary
FY2005 Interim Results Summary (Consolidated and Non-consolidated) 3 (Upper and lower rows show consolidated and non-consolidated figures) (Unit: Billion yen) 1st half 1st half Comparison FY2005(A) FY2004(B) (A)-(B) (A)/(B)( ) 2,552.6 2,528.9 23.6 100.9 Operating revenues 2,399.4 2,464.8 -65.4 97.3
Slide 5: Comparison of Performance Projections and Actual Performance
Comparison of Performance Projections 4 and Actual Performance Performance Projections (May 10, 2005) (Upper and lower rows show consolidated and non-consolidated figures) (Unit: Billion yen) Operating revenues Operating profit Ordinary profit Net interim income 2,500 270 180 110 2,340 255 180 115 R
Slide 6: Performance Outlook for FY2005
Performance Outlook for FY2005 5 Performance Outlook for FY2005 (Upper and lower rows show consolidated and non-consolidated figures) (Unit: Billion yen) Operating revenues Operating profit Ordinary profit Net income 5,180 525 375 260 Present Projection 4,860 490 350 220 5,150 550 390 240 Initial Pr
Slide 7: Income Statement Explanation – Revenues
Income Statement Explanation – Revenues (Non-consolidated) 6 Revenues Details (Non-consolidated) (Unit: Billion yen) 1st half 1st half Comparison FY2005(A) FY2004(B) (A)–(B) (A)/(B) (%) Ordinary revenues 2,413.6 2,483.1 -69.5 97.2 Operating revenues 2,399.4 2,464.8 -65.4 97.3 Decrease in Electricity
Slide 8: Income Statement Explanation – Expenses
Income Statement Explanation – Expenses (Non-consolidated) 7 Expenses Details (Non-consolidated) (Unit: Billion yen) 1st half 1st half Comparison FY2005(A) FY2004(B) (A)–(B) (A)/(B) (%) Ordinary expenses 2,238.8 2,156.2 82.5 103.8 Operating expenses 2,153.3 2,068.3 85.0 104.1 Electric power operatin
Slide 9: Reference: Year-on-Year Comparison of Ordinary Expenses - 1
Reference: Year-on-Year Comparison of Ordinary Expenses - 1 (Non-consolidated) 8 Decrease in personnel expense (¥228.8 billion to ¥224.3 billion) -¥4.5 billion Payroll and benefits (¥157.0 billion to ¥157.4 billion) +¥0.3 billion Retirement benefits (¥30.7 billion to ¥24.7 billion) -¥6.0 billion Dec
Slide 10: Reference: Year-on-Year Comparison of Ordinary Expenses - 2
Reference: Year-on-Year Comparison of Ordinary Expenses - 2 (Non-consolidated) 9 Increase in maintenance expense (¥239.5 billion to ¥240.9 billion) +¥1.3 billion Generation related (¥133.0 billion to ¥125.7 billion) -¥7.3 billion Hydroelectric power (¥4.7 billion to ¥4.9 billion) +¥0.2 billion Therm
Slide 11: Reference: Year-on-Year Comparison of Ordinary Expenses - 3
Reference: Year-on-Year Comparison of Ordinary Expenses - 3 (Non-consolidated) 10 Increase in purchased power (¥306.3 billion to ¥308.4 billion) +¥2.0 billion Inter-company power purchases (¥105.1 billion to ¥117.4 billion) +¥12.3 billion Purchases of power from other companies (¥201.2 billion to 19
Slide 12: Balance Sheet (Consolidated and Non-consolidated)
Balance Sheet (Consolidated and Non-consolidated) 11 Balance Sheet (Upper and lower rows show consolidated and non-consolidated figures) (Unit: Billion yen) 1st half 1st half Comparison FY 2005(A) FY 2004(B) (A)–(B) (A)/(B) (%) 13,605.2 13,748.8 -143.5 99.0 Adjustment* +¥154.8 billion Total assets 1
Slide 13: Free Cash Flow and its Application
Free Cash Flow and its Application (Consolidated and Non-consolidated) 12 Free Cash Flow (Upper and lower rows show consolidated and non-consolidated figures) (Unit: Billion yen) 1st half 1st half Comparison FY2005(A) FY2004(B) (A)–(B) (A)/(B) (%) Cash flow from operating 439.3 619.8 -180.5 70.9 Dec
Slide 14: Segment Information
Segment Information 13 Segment Information (Unit: Billion yen) Information and Telecommunications 1st half 1st half Comparison FY2005 (A) FY2004 (B) (A)-(B) (A)/(B) ( ) Fiber-Optics Network Company, Operating revenues (hereinafter Operating revenues called R) 8.9(+5.1), Operating profit (hereinafter
Slide 15: Comprehensive Alliance with KDDI
Comprehensive Alliance with KDDI 14 Comprehensive ComprehensiveAlliance Alliancebetween betweenKDDI KDDIand andTEPCO TEPCOGroup Group • Merger between POWEREDCOM (PWD) and KDDI PWD to merge with KDDI Corp., with KDDI as the existing company, on January 1, 2006 (planned) Merger ratio: 0.0320 shares o
Slide 16: Information and Telecommunications Business (Fiber-Optics Network Company)
Information and Telecommunications Business (Fiber-Optics Network Company) 15 Fiber-Optics Network Company (Unit: Billion yen) 1st half 1st half Comparison FY2005 (A) FY2004 (B) (A)-(B) (A)/(B) ( ) Operating revenues 8.9 3.7 5.1 237.2 Operating profit -17.8 -11.4 -6.4 Capital investment 14.6 8.5 6.1
Slide 17: Information and Telecommunications Business (POWEREDCOM Group)
Information and Telecommunications Business (POWEREDCOM Group) 16 POWEREDCOM Group (Unit: Billion yen) Interim Performance for FY2005 Operating revenues Operating profit Ordinary profit Net income POWEREDCOM 51.6 5.1 4.0 4.4 Dream Train Internet 5.8 -1.2 -1.2 -1.2 Fusion Communications 37.3 0.2 -0.5
Slide 18: Energy and Environment Business
Energy and Environment Business 17 Gas Business Company (Unit: Billion yen) 1st half 1st half Comparison FY2005 (A) FY2004 (B) (A)-(B) (A)/(B) (%) Operating revenues 6.4 2.8 3.6 227.2 Operating profit -0.0 0.1 -0.1 Gas Sales Volume 170 thousand tons 80 thousand tons 90 thousand tons Performance, Per
Slide 19: Key Factors and Financial Influence
Key Factors and Financial Influence 18 Key Factors Affecting Performance FY2005 FY2004 1st half (actual) full year (projection) full year (actual) Foreign exchange rate (Interbank; yen per dollar) 109.53 approx.112 107.55 Crude oil prices (All Japan CIF; dollar per barrel) 53.07 approx.56 38.77 Nucl
Slide 20: Electricity Sales Volume
Electricity Sales Volume 19 Electricity Sales Volume Electricity Sales Volume Trends Although air-conditioning demand increased due to hot summer, there (Units: Billion kWh, %) was a year-on-year decrease in consumer demand for the first half FY2005 overall and for the summer in particular in reacti
Slide 21: Total Power Generated and Purchased and Electricity Sales Volume Outlook
Total Power Generated and Purchased and 20 Electricity Sales Volume Outlook Total Power Generated and Purchased (Unit: Billion kWh, %) FY2005 FY2004 1st quarter 2nd quarter 1st half total 1st half total Total Power Generated and Purchased 71.3 84.2 155.5 158.2 (-1.1) (-2.2) (-1.7) (6.4) Power genera
Slide 22: Reference: Business Management Plan Targets and Performance
Reference: Business Management Plan Targets and Performance 21 (Fiscal year) 2005 FY2005 Business 2001 2002 2003 2004 1st half full year Management Plan (actual) (projection) FY2005-2007 Targets Profit and Free Cash Flow (FCF) Targets ROA 4.5 3.6 3.5 4.1 1.9 about 4% At least 4% (%) 4.5 3.7 3.5 4.0
Slide 23: Reference: Back-end System/Measures - 1
Reference: Back-end System/Measures - 1 22 PPS Customers Electric Power Company Customers For power already generated For power to be generated in the future (1) (2) Costs of new measures Costs under existing reserves Reprocessing facility shutdown costs, + TRU processing and disposal costs, and oth
Slide 24: Reference: Back-end System/Measures - 2
Reference: Back-end System/Measures - 2 23 Accounting AccountingTreatment Treatment • Amounts contributed to fund organizations are posted on the Balance Sheet as the reserve fund for reprocessing of irradiated nuclear fuel. ((1)+(2)+(3)) • Annual costs for reprocessing, etc., including interest acc
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