Electric Power Development Co., Ltd. · TSE:9513
Electric Power Development — Q3 FY2012 Earnings Presentation
30 slides from Electric Power Development's earnings presentation, Jan 31, 2012
Slide 1: 2012 2012 2012
2012 3 23 3 2012 2012 11 31 31
Slide 2: kWh
WS POWER kWh
Slide 3: Appendix
2012 3 23 3 4 4 4 5 4 6 4 7 4 8 4 9 2012 3 23 4 11 4 12 4 13 4 14 Appendix 2
Slide 4: WS POWER
WS POWER 2012 3 23
Slide 5: 2011 2010 4-12 4-12 4,832 4,689 3.0% 4,464 4,332 32 3.1% 539 663 -124
4 4 2011 2010 3 4-12 4-12 4,832 4,689 142 3.0% 4,464 4,332 132 3.1% 539 663 -124 -18.7% 519 624 -104 -16.8% 454 565 -110 -19.6% 418 492 -73 -15.0% 235 237 -1 -0.7% 225 197 28 14.5% 4
Slide 6: kWh IPP PPS IPP PPS
2011 2010 3 3 4-12 4-12 kWh 488 486 1 0.3% 4 82 83 -0 -1.0% -3 391 394 -2 -0.6% 9 IPP PPS 13 9 4 48.6% 9 4,832 4,689 142 3.0% 833 837 -3 -0.4% 3,137 2,997 140 4.7% 4 IPP PPS 150 88 62 70.0% + 140 397 407 -9 -2.4% 9 311 359 -47 -13.2% 116% 109% 7 ― 75% 76% -1 ― /US$ 79 87 -8 ― 5
Slide 7: IPP
- 124 8 8 8 8 8 *¹ - 110 8 8 -1 8 *² 8 8 *¹ 2011 11 24 2012 1 19 2012 1 23 2012 1 23 *² IPP 6
Slide 8: 2011 2010 4-12 4-12 4,832 4,689 4,529 4,342 347 -44 4,292 4,026 266 3,933
2011 2010 3 3 4-12 4-12 4,832 4,689 142 4,529 4,342 186 302 347 -44 4,292 4,026 266 3,933 3,647 286 258 223 34 1,792 1,548 244 333 334 -1 225 214 11 753 800 -46 570 525 44 358 379 -20 539 663 -124 107 105 1 66 73 -7 40 31 9 192 203 -11 165 167 -1 26 36 -9 454 565 -110 7
Slide 9: -76 -400 2011 2010 4-12 4-12 A -159 B -910 -731 -179 -0 -237
4 3 -76 338 4 -400 2011 2010 3 4-12 4-12 A 834 993 -159 B -910 -731 -179 -0 -237 236 A+B) -76 261 -338 8
Slide 10: 20.5% 0.2% 2011 2010 18,175 18,426 -251 11,222 11,784 -562 632 649 -16 3,574
4 160 4 20.5% 0.2% 2011 2010 18,175 18,426 -251 11,222 11,784 -562 632 649 -16 3,574 3,016 557 536 466 69 2,209 2,508 -299 1,787 1,697 90 19,962 20,123 -160 14,271 14,290 -18 1,609 1,684 -75 15,881 15,974 -93 -8 -8 -0 4,090 4,157 -66 4,081 4,148 -67 19,962 20,123 -160 D/E 3.5 3.4 20.5% 20.7% 9
Slide 11: WS POWER
WS POWER 2012 3 23 10
Slide 12: 2011 2010 6,520 6,660 6,359 2.5% -140 5,990 6,160 5,832 157 2.7% -170 430
4 2011 2010 6,520 6,660 6,359 160 2.5% -140 5,990 6,160 5,832 157 2.7% -170 430 480 705 -275 -39.1% -50 370 420 626 -256 -40.9% -50 320 400 563 -243 -43.2% -80 220 270 431 -211 -49.1% -50 160 260 195 -35 -18.3% -100 90 170 147 -57 -39.1% -80 2011 35 35 70 * 2011 10 31 11
Slide 13: kWh /US$
2011 2010 4 kWh 657 679 658 -0 -21 -1 101 101 102 -1 -0 9 9 536 558 540 -4 -21 6,520 6,660 6,359 160 -140 1,080 1,080 1,081 -1 0 4 4,230 4,390 4,064 165 -160 +165 9 114% 112% 106% 8 2 77% 80% 78% -1 -3 /US$ 80 80 86 -6 0 * 2011 10 31 12
Slide 14: * 2010 …(a) ▲ ▲ ▲ ▲ ▲ ▲ +10 ▲ 40 ▲ 40
* 2010 …(a) 563 563 ▲ 30 ▲ 30 0 0 0 0 ▲ 25 ▲ 25 0 ▲ 90 ▲ 100 +10 ▲ 40 ▲ 40 0 ▲ 60 - ▲ 60 ▲ 30 ▲ 30 0 +30 +60 ▲ 30 …(b) ▲ 245 ▲ 165 ▲ 80 2011 …(c)=(a)+(b) 320 400 ▲ 80 * 2011 10 31 13
Slide 15: IPP
4 3 63 11 4 90 / 4 4,000 160 2011 6 3,500 140 113 3,000 120 93 2,500 85 100 2011 11 12 78 2,000 80 63 4 1,500 60 1,000 40 2011 6 IPP 10 2012 500 20 0 0 4 '07 '08 '09 '10 '11 3Q / / 2010 8 2010 81 2.7 2 2011 3 77 2.5 2011 78 2.5 14
Slide 16: APPENDIX
WS POWER APPENDIX 15
Slide 17: APPENDIX
APPENDIX 4 17 4 18 4 19 4 20 4 21 4 22 4 23 4 24 4 25 4 26 4 27 4 28 16
Slide 18: kW ABWR MOX
* 138.3 kW ABWR MOX 2008 5 38% 2011 3 2014 11 * 2011 12 1 17
Slide 19: 2013 2014 2015
9 9 9 2013 9 9 9 2014 9 9 9 9 2015 9 18
Slide 20: Joint Development Agreement ITOCHU Corporation Coal Supplier
9 9 2016 9 9 2017 9 Joint Development Agreement ITOCHU Corporation J-POWER Adaro 32% 34% 34% Coal Supplier Project Company PT PLN PPA Jakarta Lenders EPC Contractor 19
Slide 21: 2,000 1,563 1,234 1,154 1,120 1,016 1,000 11 162 400 (1,000) (a) (b) (a)+(b)
2,000 1,563 1,234 1,154 1,120 1,016 1,000 396 262 265 18 0 211 162 400 (1,000) (a) (b) (a)+(b) (2,000) 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 * 2011 20
Slide 22: EBITDA
5,732 5,877 7,049 5,844 6,359 4,689 4,832 [EBITDA] 1 2,002 1,657 1,717 1,692 1,822 1,497 1,322 771 507 571 489 705 663 539 555 428 395 416 563 565 454 351 293 194 291 195 237 235 4,611 4,663 3,801 4,126 4,157 4,195 4,090 19,997 20,131 20,054 20,240 20,123 20,154 19,962 14,215 14,238 14,707 14,525 14
Slide 23: E(%) t) FOB
9.7% 7.3% 5.6% 7.1% 8.9% 12.1% 9.4% (%) 23.1% 23.2% 19.0% 20.4% 20.7% 20.8% 20.5% / 3.1 3.1 3.9 3.5 3.4 3.4 3.5 E(%) 1 7.9% 6.3% 4.6% 7.4% 4.7% - - (%) 2 2.8% 2.1% 2.0% 2.1% 2.8% - - ( ) 211.14 175.99 121.65 194.26 130.51 158.32 157.22 ( ) 2,768.95 2,800.18 2,533.28 2,750.20 2,770.77 2,795.84 2,726.
Slide 24: kWh) (MW) CO2
( kWh) 58,672 60,786 57,532 55,760 64,353 47,747 47,431 10,633 8,287 8,384 9,214 10,267 8,342 8,259 48,039 52,499 49,147 46,546 54,086 39,405 39,172 1,657 1,682 1,616 1,477 1,462 921 1,368 60,329 62,469 59,148 57,238 65,815 48,668 48,800 4,500 4,572 5,712 4,586 5,146 3,834 3,971 1,234 1,145 1,109 1,
Slide 25: 5,732 5,877 7,049 5,844 6,359 4,689 4,832 5,237 5,317 6,483 5,302 5,844 4,342 4,529
5,732 5,877 7,049 5,844 6,359 4,689 4,832 5,237 5,317 6,483 5,302 5,844 4,342 4,529 494 560 565 541 515 347 302 4,961 5,370 6,478 5,355 5,653 4,026 4,292 4,444 4,778 5,888 4,786 5,091 3,647 3,933 272 377 436 362 313 223 258 1,498 1,915 2,643 1,780 2,142 1,548 1,792 411 304 514 444 460 334 333 317 30
Slide 26: 540 kWh 391 kWh
4 2010 4 - 2011 3 4 2011 4 - 2011 12 78 75 540 kWh 391 kWh 25
Slide 27: 102 kWh 82 kWh
4 2010 4 - 2011 3 4 2011 4 - 2011 12 106 116 102 kWh 82 kWh 26
Slide 28: WS POWER
WS POWER itt 27
Slide 29: IPP PPS
IPP PPS 4 2010 4 - 2011 3 15 kWh 4 2011 4 - 2011 12 13 kWh 28
Slide 30: http://www.jpower.co.jp/
http://www.jpower.co.jp/ 29
Electric Power Development Co., Ltd. (J-POWER) — Q3 FY2012 Earnings Presentation on 6ix