Electric Power Development Co., Ltd. · TSE:9513

Electric Power Development — Q2 FY2012 Earnings Presentation

32 slides from Electric Power Development's earnings presentation, Oct 31, 2011

  1. Slide 1: 2012年3月期 第2四半期決算説明資料

    2012 3 23 2 2011 2011 11 11 88

  2. Slide 2: Highlights (kWh)

    WS POWER kWh

  3. Slide 3: Contents

    2012 3 23 2 4 4 4 5 4 6 4 7 4 8 4 9 4 10 2012 3 23 4 12 4 13 4 14 4 * 15 Appendix *2011 10 31 IPP 2

  4. Slide 4: Q2 results overview

    WS POWER 2012 3 23

  5. Slide 5: Summary of consolidated results

    4 4 2011 2010 2 2 4-9 4-9 4-9 % 3,160 3,275 3,111 164 5.3% 2,980 3,036 2,897 138 4.8% 330 380 450 -70 -15.5% 330 367 423 -55 -13.2% 280 325 366 -40 -11.2% 270 310 340 -30 -8.9% 180 208 142 66 46.8% 180 208 140 68 48.6% * 2 2011 4 28 4

  6. Slide 6: Sales volume and key indicators

    2011 2010 2 2 4 (%) 4-9 4-9 -2 kWh 337 321 15 4.9% 9 62 63 -0 -1.1% 9 266 252 13 5.5% IPP PPS 8 5 2 47.9% 3,275 3,111 164 5.3% 4 581 584 -2 -0.5% + 154 2,127 1,973 154 7.8% 9 IPP PPS 91 58 32 55.8% 9 265 271 -6 -2.4% 208 222 -13 -6.0% (%) 118% 108% 10 ― (%) 77% 73% 4 ― /US$ 80 89 -9 ― 5

  7. Slide 7: Ordinary income change factors

    - 70 8 8 8 - 40 8 +66 8 * * IPP 6

  8. Slide 8: Consolidated income statement

    2011 2010 2 2 4-9 4-9 3,275 3,111 164 3,072 2,898 174 202 212 -9 2,894 2,660 234 2,654 2,426 228 172 149 23 1,207 1,001 205 258 257 0 150 143 7 500 530 -30 366 344 21 239 234 5 380 450 -70 78 50 28 38 31 6 40 18 21 133 134 -0 111 111 0 21 22 -1 325 366 -40 7

  9. Slide 9: Results by segment (IPP, PPS)

    2011 2010 3,088 2,913 174 6% 1,503 1,439 63 4% 9 6 2 47% 94 125 -31 -25% 4,694 4,486 208 5% -1,419 -1,375 -44 - 3,275 3,111 164 5% 266 303 -37 -12% 24 26 -1 -4% 21 9 11 121% -0 13 -13 - 312 352 -39 -11% 12 13 -0 -7% 325 366 -40 -11% IPP PPS 8

  10. Slide 10: Cash flow

    4 2 -228 351 4 -400 100 2011 2010 2 4-9 4-9 A 373 529 -155 B -602 -405 -196 151 -121 272 A+B) -228 123 -351 9

  11. Slide 11: Balance sheet

    4 4 21.0% 0.3% 2011 2010 18,423 18,426 -3 11,438 11,784 -345 666 649 16 3,342 3,016 325 536 466 69 2,439 2,508 -69 1,862 1,697 165 20,286 20,123 162 14,387 14,290 97 1,646 1,684 -37 16,034 15,974 59 -5 -8 2 4,257 4,157 99 4,251 4,148 102 20,286 20,123 162 D/E 3.4 3.4 21.0% 20.7% 10

  12. Slide 12: Full-year forecast

    WS POWER 2012 3 23 11

  13. Slide 13: Forecast summary

    4 2011 2010 * 6,660 6,420 6,359 300 240 6,160 6,010 5,832 327 150 480 480 705 -225 0 420 420 626 -206 0 400 400 563 -163 0 270 270 431 -161 0 260 260 195 64 0 170 170 147 22 0 2011 35 35 70 * 2011 4 28 12

  14. Slide 14: Forecast assumptions and sales volumes

    2011 2010 * kWh 679 608 658 20 70 4 -1 101 95 102 -1 5 9 558 500 540 17 58 9 6,660 6,420 6,359 300 240 1,080 1,070 1,081 -1 10 4 4,390 4,230 4,064 325 160 +325 9 112% 100% 106% 6 9 80% 72% 78% 2 /US$ 80 85 86 -6 -5 * 2011 4 28 13

  15. Slide 15: Forecast ordinary income factors

    * 600 +80 30 0 25 500 80 70 30 400 40 20 +60 10 300 563 200 400 100 0 2010 2011 * 2011 4 28 14

  16. Slide 16: Wholesale power and IPP forecast

    4 2 36 2 4 90 10 / 4 4,000 160 2011 6 3,500 140 113 2011 11 3,000 120 93 2,500 100 78 4 2,000 80 2011 6 IPP 1,500 60 10 2012 36 1,000 40 500 20 2011 / / 85 2.8 0 0 2 6 81 2.6 '08 '09 '10 11 '11 80 2.6 2Q 15

  17. Slide 17: APPENDIX

    WS POWER APPENDIX 16

  18. Slide 18: APPENDIX contents

    APPENDIX 4 18 4 * 19 4 20 4 21 4 22 4 23 4 24 4 25 4 26 4 27 4 28 4 29 4 30 *2011 10 31 IPP 17

  19. Slide 19: Nuclear development (ABWR, MOX)

    * 138.3 kW ABWR MOX 2008 5 38% 2011 3 2014 11 * 2011 7 4 18

  20. Slide 20: Development schedule 2013-2015

    9 9 9 2013 9 9 9 9 2014 9 9 9 9 2015 9 19

  21. Slide 21: Indonesia coal-fired project

    9 2016 9 9 2017 9 9 Joint Development Agreement ITOCHU Corporation J-POWER Adaro 32% 34% 34% Coal Supplier Project Company PT PLN Jakarta PPA Lenders EPC Contractor 20

  22. Slide 22: Operating facilities

    400 t/ *1 1,200 t/ *1 600 t/ 2006 1982 2008 1984 2010 2010 10 15 7.5 21

  23. Slide 23: Financial trend

    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 22

  24. Slide 24: Financial data (EBITDA)

    5,732 5,877 7,049 5,844 6,359 3,111 3,275 [EBITDA] 1 2,002 1,657 1,717 1,692 1,822 1,001 900 771 507 571 489 705 450 380 555 428 395 416 563 366 325 351 293 194 291 195 142 208 4,611 4,663 3,801 4,126 4,157 4,115 4,257 19,997 20,131 20,054 20,240 20,123 20,274 20,286 14,215 14,238 14,707 14,525 14,2

  25. Slide 25: Financial indicators

    9.7% 7.3% 5.6% 7.1% 8.9% 11.8% 9.9% (%) 23.1% 23.2% 19.0% 20.4% 20.7% 20.3% 21.0% / 3.1 3.1 3.9 3.5 3.4 3.5 3.4 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 94.90 139.28 ( ) 2,768.95 2,800.18 2,533.28 2,750.20 2,770.77 2,742.50 2,837.3

  26. Slide 26: Sales and generation data

    ( kWh) 58,672 60,786 57,532 55,760 64,353 31,581 32,891 10,633 8,287 8,384 9,214 10,267 6,344 6,273 48,039 52,499 49,147 46,546 54,086 25,236 26,617 1,657 1,682 1,616 1,477 1,462 567 838 60,329 62,469 59,148 57,238 65,815 32,148 33,730 4,500 4,572 5,712 4,586 5,146 2,558 2,709 1,234 1,145 1,109 1,08

  27. Slide 27: Income statement data

    5,732 5,877 7,049 5,844 6,359 3,111 3,275 5,237 5,317 6,483 5,302 5,844 2,898 3,072 494 560 565 541 515 212 202 4,961 5,370 6,478 5,355 5,653 2,660 2,894 4,444 4,778 5,888 4,786 5,091 2,426 2,654 272 377 436 362 313 149 172 1,498 1,915 2,643 1,780 2,142 1,001 1,207 411 304 514 444 460 257 258 317 30

  28. Slide 28: Power sales volume

    4 2010 4 - 2011 3 4 2011 4 - 2011 9 78 77 540 kWh 266 kWh 27

  29. Slide 29: Power sales volume

    4 2010 4 - 2011 3 4 2011 4 - 2011 9 106 118 102 kWh 62 kWh 28

  30. Slide 30: WS POWER

    WS POWER ah 29

  31. Slide 31: IPP PPS

    IPP PPS 4 2010 4 - 2011 3 15 kWh 4 2011 4 - 2011 9 8 kWh 30

  32. Slide 32: http://www.jpower.co.jp/

    http://www.jpower.co.jp/ 31

Electric Power Development Co., Ltd. (J-POWER) — Q2 FY2012 Earnings Presentation on 6ix