Apa Group · ASX:APA
Apa — Australian Pipeline Trust — Shareholder Meeting (October 2004)
6 slides from Apa's shareholder meeting presentation, Oct 20, 2004
Slide 1: Chairman's Presentation 2004
AUSTRALIAN PIPELINE TRUST CHAIRMAN’S PRESENTATION 2004 [SLIDE 1 - APA Annual Meeting 2004] Now ladies and gentlemen, while the ASX Perpetual staff is collating the results of the poll, | will make a short presentation on APA’s performance this year, and regulatory developments. Mr McDonald, our Mana
Slide 2: Non-recurring items
While we were disappointed not to have succeeded in acquiring these assets, the Board believes that APA's decision to actively consider them was the right strategy for our business — and reflects our policy that we will be focused and rational and not buy assets “at any price”. The carrying value of
Slide 3: Revenue and pipeline by pipeline revenue
APA also receives passthrough revenue from two of its pipelines as well as interest revenue and together these increased by $9.8 million during the year, resulting in total normalised revenue for the period of $278.1 million, up $6.2 million or 2.3%, on the previous corresponding period [SLIDE 7 — P
Slide 4: Cash flow, gearing and distributions
Pty Limited to defer dividends, pending the sale of CMS’s interests, as well as the contracted reduction in revenue from the Moomba to Sydney Pipeline. The Distribution Reinvestment Plan which was implemented during the 2004 financial year, raised $16.4 million, net of costs, with 6.34 million units
Slide 5: Positive regulatory outcomes
system and future spur lines or extensions. This will be identified as the NSW/ACT Regional Gas Transmission Grid. APA welcomes finalisation of the revocation process, which will now enable APA to support and enhance regional development and pipeline competition. APA was also successful in having th
Slide 6: Acquisition funding and outlook
placement through bookbuild, which would take approximately two months and thereby erode APA's bidding advantage. For these reasons, the Board accepted Management's recommendation that this acquisition should be funded by a private placement. For the future, when we are successful with the acquisiti
Australian Pipeline Trust — Shareholder Meeting (October 2004) on 6ix