Electric Power Development Co., Ltd. · TSE:9513
Electric Power Development — FY2005 Earnings Presentation
28 slides from Electric Power Development's earnings presentation, May 15, 2006
Slide 1: FY2005 Earnings Results Presentation
FY2005 Earnings Results Presentation Electric Power Development Co., Ltd. May 15, 2006
Slide 2: Forward Looking Statements Disclaimer
Forward Looking Statements Disclaimer The following contains statements that constitute forward-looking statements, plans for the future, management targets, etc. relating to the Company and/or the J-POWER group. These are based on current assumptions of future events, and there exist possibilities
Slide 3: Summary of FY2005 Results and FY2006 Forecast
I. Summary of FY2005 Earnings Results II. Summary of FY2006 Earnings Forecast
Slide 4: Key Points Regarding FY2005 Consolidated Earnings Results
Key Points Regarding FY2005 Consolidated Earnings Results 4 Operating revenues, ordinary income, and net income are at historical highs. Increased revenues Increased thermal electric power sales and the commencement of our (subsidiaries’) new power plant operations contributed Increased income In sp
Slide 5: Electric Power Business Consolidated Sales
Electric Power Business Consolidated Sales Year-on-year comparison [Main factors for change +4.6 +2.8 billion kWh over the previous year] Unit: 100 million kWh Thermal electric power (J-POWER) +4.7 billion kWh Solid demand for electric power Increased operation days of power plants (decrease in peri
Slide 6: Causes of Change in Consolidated Operating Revenues
Causes of Change in Consolidated Operating Revenues Year-on-year comparison [Main factors of change +4.6% (+27.6 billion yen) over the previous quarter] Unit: 100 million Electric power business: +25.2 billion yen [Thermal electric power (J-POWER): +29.0 billion yen] Increased operation days of powe
Slide 7: Consolidated Income: Comparison
Consolidated Income: Comparison (Unit: ¥100 million) Year-on-year FY2004 FY2005 Main factors for change change Increase/ Actual Actual decrease Operating Revenues 5,944 6,219 276 Ordinary Revenue High load factor at thermal power plants, increased sales by electric Electric power operating revenues
Slide 8: Summary of Consolidated Results by Segment
Summary of Consolidated Results by Segment Special Characteristics of Results Revenue (Unit: ¥100 million) by Segment FY2004 FY2005 Year-on-year change Increase/ Increase/ Actual Actual 4 Electric Power Business decrease decrease (%) Electric Power Most revenue is derived from the parent Business 5,
Slide 9: Consolidated Cash Flow
Consolidated Cash Flow 4 Cash flow from investing activities increased with the commencement of construction at the Isogo New No. 2 Plant and the preparations for construction of Oma Nuclear Power Plant, but free cash flow was maintained at a level exceeding 100 billion yen. 4 Much of free cash flow
Slide 10: Consolidated Balance Sheet
Consolidated Balance Sheet 4 Financial position improved steadily due to the reduction of interest-bearing debt 4 Shareholders’ equity ratio advanced to 22.0% (target of “over 23%” by the end of FY2007) (Unit: ¥100 million) Change FY2004 FY2005 from prior Main Factors for Change year-end As of As of
Slide 11: Breakdown of Consolidated Interest-bearing Debt
Breakdown of Consolidated Interest-bearing Debt 4Along with reducing interest-bearing debt, we are lowering debt costs through prepayment of high interest debt. 4Taking future interest hikes into consideration, we are rebalancing more portion of the debt to longer-term funding, chiefly corporate bon
Slide 12: Comparison with Consolidated Earnings Forecast
Comparison with Consolidated Earnings Forecast 4 Operating revenues Thermal electric power sales was above plan due to solid demand for electric power, whereas hydroelectric power sales was adversely affected by lower water flow, making for a small increase overall Thermal electric facilities load f
Slide 13: Summary of FY2006 Earnings Forecast
Summary of FY2005 Earnings Results Summary of FY2006 Earnings Forecast
Slide 14: Consolidated Electricity Sales Forecast
Consolidated Electricity Sales Forecast 4Electricity sales have continued to grow for the past five years 4In FY2005 electricity sales were at historical highs due to a particularly cold winter and shorter inspection period of thermal electric power. Compared to FY2005, we forecast a reactionary dec
Slide 15: Consolidated Operating Revenue Forecast
Consolidated Operating Revenue Forecast 4 We forecast a year-on-year decrease of 10.3% to 558.0 billion yen 4 Reflects reactionary decline in thermal electric power sales and full-year effects of the rate reductions for hydroelectric power and transmission (commenced October 2005) Unit: 100 million
Slide 16: FY2006 Consolidated Earnings Forecast
FY2006 Consolidated Earnings Forecast 4Declining both revenue and income: Operating income is expected to decline due to full-year effects of the rate reductions for hydroelectric power and transmission, and less financial profit than that of FY2005 from managing retirement pension assets. While, Th
Slide 17: Free Cash Flow Forecast
4Since FY 2001, free cash flow has maintained the 100.0 billion yen level because of decline in capital investments, but in FY2006 an increase in capital investment is expected as construction at the Isogo New No. 2 Plant progresses and construction at the Oma Nuclear Power Plant commences. We forec
Slide 18: Targets: Ordinary Income and Shareholders' Equity Ratio
4Consolidated ordinary income In the increasingly severe business environment where the competition in the electricity industry is ever increasing and the electricity rate level is lowering, we will intend to achieve our targets mainly through reinforcement of sales force and earnings contributions
Slide 19: Appendix
WS POwER APPENDIX
Slide 20: Wholesale Electric Power Business: Monthly Electricity Sales
Wholesale Electric Power Business: Monthly Electricity Sales 4 4
Slide 21: Monthly Electricity Sales: Hydroelectric Power
Wholesale Electric Power Business: Monthly Electricity Sales 4 Hydroelectric Power: Apr.2004 - Mar.2005 4 Hydroelectric Power: Apr.2005 - Mar. 2006 Results (Cumulative) Results (Cumulative) Water supply rate 118 Water supply rate 90 Electricity sales 11.2B kWh Electricity sales 8.6B kWh
Slide 22: Changes in Monthly Electricity Sales
Wholesale Electric Power Business: Changes in Monthly Electricity Sales Year-on-year Comparison of Monthly Electricity Sales Thermal Power and Hydroelectric Power 150% 100% 50% 0% Cumulative Apr. May June July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr.- Mar. Year-on-year 96% 63% 78% 103% 79% 84%
Slide 23: Other Electric Power Businesses: Monthly Electricity Sales
Other Electric Power Businesses: Monthly Electricity Sales 4 Note: Does not take proportion of equity holdings into account
Slide 24: 3 “Group employees" includes company employees, directors and employees at our main consolidated subsidiaries,
\ 3 “Group employees" includes company employees, directors and employees at our main consolidated subsidiaries, and employees on temporary transfers from consolidated subsidiaries
Slide 25: 1 We've expanded shareholder equity by increasing capital through a third-party allocation of shares
\ \ 1 We've expanded shareholder equity by increasing capital through a third-party allocation of shares in December 2003. 2 Effective March 1,2006, we carried out a 1.2-for-1 stock split. These figures are calculated based on the assumption that the said stock split was carried out at the beginning
Slide 26: Slide 26
Slide 27: J-POWER
WS POWER
Slide 28: http://www.jpower.co.jp/
SW PowER WS PowER http://www. jpower.co.jp/
Electric Power Development Co., Ltd. (J-POWER) — FY2005 Earnings Presentation on 6ix