Tc Energy Corporation · TSX:TRP
Tc Energy — Shareholder Meeting (2019)
17 slides from Tc Energy's shareholder meeting presentation, 2019
Slide 1: Forward-looking information and Non-GAAP measures
Forward-looking information and Non-GAAP measures This presentation includes certain forward looking information, including future oriented financial information or financial outlook, which is intended to help current and potential investors understand management’s assessment of our future plans and
Slide 2: Positioned for the future.
~ Positioned for the future.
Slide 3: Our footprint
Our footprint CANADA One of North America’s largest Natural Gas Pipeline networks • 92,600 km (57,500 mi) of pipeline • 653 Bcf of storage capacity • 23 Bcf/d; ~25% of continental demand Premier Liquids Pipeline system UNITED STATES • 4,900 km (3,000 mi) of pipeline • 590,000 Bbl/d Keystone System t
Slide 4: Key accomplishments in 2018
Key accomplishments in 2018 Record performance from base businesses • Maximized throughput and enhanced contracting on Natural Gas Pipelines • Increased utilization of Keystone Advanced $30-billion secured capital program • $4 billion in new assets entered service in 2018 • Placed another $5 bil
Slide 5: 2018 financial highlights
2018 financial highlights Comparable earnings Comparable EBITDA* Comparable funds generated per common share* ($Millions) from operations* (Dollars) ($Millions) 25% Increase 16% Increase 16% Increase 3.86 8,563 7,377 3.09 6,522 5,641 2017 2018 2017 2018 2017 2018 * Comparable Earnings per Common Sha
Slide 6: Dividend growth continues
Dividend growth continues 8-10% $3.00* CAGR $2.76 $2.50 ~7% $2.26 CAGR $2.08 $0.80 '00 '01 '02 '03 '04 '05 '06 '07 '08 '09 '10 '11 '12 '13 '14 '15 '16 '17 '18 '19E *Annualized based on second quarter declaration of $0.75 per share. CAGR is compound average annual growth rate. Common share dividend i
Slide 7: Delivering long-term shareholder value
Delivering long-term shareholder value Common share price (TRP-TSX) 13% average annual total shareholder return since 2000
Slide 8: First quarter 2019 financial highlights
First quarter 2019 financial highlights Comparable earnings Comparable EBITDA* Comparable funds generated per common share* ($Millions) from operations* (Dollars) ($Millions) 9% Increase 16% Increase 11% Increase 2,383 1.07 0.98 2,063 1,791 1,611 2018 2019 2018 2019 2018 2019 * Comparable Earnings p
Slide 9: Committed to sustainability
Committed to sustainability
Slide 10: Global energy demand expected to continue to grow
Global energy demand expected to continue to grow Oil Natural Mtoe* Gas *million tonnes of oil equivalent 5000 Coal 4000 3000 Bioenergy Other Renewables Nuclear 2000 Hydro 1000 0 ‘17 ‘40 ‘17 ‘40 ‘17 ‘40 ‘17 ‘40 ‘17 ‘40 ‘17 ‘40 ‘17 ‘40 Source: International Energy Agency
Slide 11: Multiple growth platforms that cannot be replicated
Multiple growth platforms that cannot be replicated NGTL System Canadian Mainline is uniquely positioned is a critical conduit to over 924 TCF of WCSB eastern markets natural gas resources Bruce Power generates Keystone corridor ~30% of Ontario’s power provides a direct link to world’s largest heavy
Slide 12: Advancing $30-billion secured capital program
Advancing $30-billion secured capital program* 2019 2020 2021 2022 2023 US$0.8 $6.2 Coastal GasLink Villa de Reyes US$0.5 Other U.S. Gas Pipeline $0.2 $0.1 capacity White Spruce Other Liquids Pipeline capacity $0.3 Canadian Mainline US$1.5 US$1.1 Sur de Texas Modernization II $2.6 NGTL System $2.2 B
Slide 13: Secured capital program drives significant growth
Secured capital program drives significant growth Comparable EBITDA outlook ($Billions) ~10.0 ~9% CAGR 8.6 7.4 6.6 5.9 Power and Storage Liquids Pipelines Mexico Natural Gas Pipelines U.S. Natural Gas Pipelines Canadian Natural Gas Pipelines 2015 2016 2017 2018 2021E ~95% of Comparable EBITDA to com
Slide 14: Dividend growth outlook
Dividend growth outlook Annual growth of 8 to 10% through 2021 $3.00* $2.76 $2.50 $2.26 $2.08 '15 '16 '17E '18 '19E '20E '21E * Annual rate based on second quarter dividend declared of $0.75 per share. Supported by expected growth in earnings and cash flow and continued strong coverage ratios
Slide 15: $20+ billion of projects under development
$20+ billion of projects under development Natural Gas Pipelines • Expansions across our extensive network including NGTL, Columbia and other pipelines serving premium markets Liquids Pipelines • Keystone XL • Grand Rapids Phase II • Heartland Pipeline • Keystone Hardisty Terminal Power and Storage
Slide 16: Key takeaways
Key takeaways Record performance from asset base • Comparable EBITDA, FGFO, and EPS reached all-time highs in 2018 • Record results continued in first quarter 2019 • Demand for our services has never been greater Visible growth program underpinned by energy fundamentals • $30-billion secured capital
Slide 17: Bright future ahead
Bright future ahead