Tokyo Gas Co., Ltd. · TSE:9531

Tokyo Gas — Q1 FY2024 Earnings Presentation

28 slides from Tokyo Gas's earnings presentation, Jul 31, 2024

  1. Slide 1: FY2024 1Q Financial Results

    TSE:9531 FY2024 1Q Financial Results ended June, 2024 July 31, 2024

  2. Slide 2: Today's Key Messages

    Today’s Key Messages 2 (unit : 100 million yen)  Consolidated FY2024 1Q saw a YoY decline in both sales and profits, driven by a decrease in city gas unit price due to resource costs adjustment, etc. FY2024 1Q Net sales：5,869(vs FY2023 1Q Results -627) Profit attributable to owners of parent：199(vs

  3. Slide 3: FY2024 Consolidated Financial Results

    01 FY2024 Consolidated Financial Results ended June, 2024 Note:The segment information disclosed for FY2024 and FY2023(excluding segment assets and ROA of FY2023)reflects new segment classifications that went into effect from FY2024 as a result of a restructuring of our subsidiary TOKYO GAS UNITED K

  4. Slide 4: Highlights: Sales Down, Profit Down

    FY2024 1Q Consolidated Results Sales, Interest, etc. (Apr. 1, 2024 –June 30, 2024) vs. FY2023 1Q 4 Highlights: Sales Down, Profit Down (+/- indicate impact on profit, 100 million yen) vs. FY2023 1Q Net sales -627 Drop in Energy Solution sales by a decrease in unit price due to resource costs adjustm

  5. Slide 5: 1Q Results: Sales and Operating Profit/Loss by Business Segments

    FY2024 1Q Results: Sales and Operating Profit/Loss by Business Segments vs. FY2023 1Q 5 (unit : 100 million yen) Segment Profit(Operating profit Net sales*3 + Equity income/loss of subsidiaries) FY2024 1Q FY2023 1Q FY2024 1Q FY2023 1Q Change ％ Change ％ Results Results Results Results Energy solution

  6. Slide 6: 1Q Results: Ordinary Profit Analysis

    FY2024 1Q Results : Ordinary Profit Analysis vs. FY2023 1Q 6 (unit : 100 million yen)  City gas -484 Decrease in city gas gross margin -407 Energy Change in volume, etc.-69 (incl. change due to temp effect +4), solution sliding time lag effect -338 FY2024 1Q -567 (Net sales) -341:Change in volume,

  7. Slide 7: 1Q Consolidated Gas Sales Volume / Number of Customers

    FY2024 1Q Consolidated Gas Sales Volume/ Number of Customers vs. FY2023 1Q 7 City Gas sales volume: （ Unit： mil. ㎥） Number of customers(City Gas), LNG sales volume 2,500 2,428 2,466 -38mil.㎥ (-1.5%) FY2024 1Q FY2023 1Q Change ◼Residential -41 mil.㎥(-6.7%) Results Results Residential Number of custom

  8. Slide 8: 1Q Consolidated Electricity Sales Volume / Number of Customers

    FY2024 1Q Consolidated Electricity Sales Volume/ Number of Customers vs. FY2023 1Q 8 Electricity sales volume： New electricity retail customers won by Tokyo Gas （ Unit：mil. kWh ） Quarter (thousands) Cumulative (thousands) 3,975 3,871 -260mil. kWh 3766 3,697 4,000 6,000 300 3,612 (-5.0%) 3,475 3,314

  9. Slide 9: FY2024 Full Year Forecast

    02 FY2024 Full Year Forecast Note:The segment information disclosed for FY2024 and FY2023(excluding segment assets and ROA of FY2023)reflects new segment classifications that went into effect from FY2024 as a result of a restructuring of our subsidiary TOKYO GAS UNITED KINGDOM LTD. from the Energy s

  10. Slide 10: Medium-term Management Plan Key Figures

    Medium-term Management Plan (Announced: February 22, 2023） Key figures 10 FY2024 FY2023 FY2025 Reference Forecast Results Segment profits (operating profit + equity income of 1,500 1,208 2,233 subsidiaries, 100 million yen) approx. Net profit / Total assets (average of the amounts ROA 2.1% 4.5% as o

  11. Slide 11: FY2024 Plan (Consolidated) Segment ROA

    FY2024 Plan (Consolidated) Segment ROA 11 • As part of our actions for advancing business portfolio management, we have introduced a management approach based on individual ROA targets set for each internal company and core business subsidiary. • We disclose each segment’s ROA forecast of the fiscal

  12. Slide 12: Highlights: Sales Down, Profit Up (vs. Previous Forecast)

    FY2024 Consolidated Forecast Sales, Interest, etc. (Apr. 1, 2023 – Mar. 31, 2024) vs. Previous Forecast 12 Highlights: Sales Down, Profit Up (vs. Previous Forecast) (+/- indicate impact on profit, 100 million yen) vs. Previous Forecast Net sales -40 Drop in Overseas business sales by a decrease in s

  13. Slide 13: Full Year Forecast: Operating Profit/Loss by Business Segments

    FY2024 Full Year Forecast: Operating Profit/Loss by Business Segments vs. Previous Forecast 13 (unit : 100 million yen) Segment Profit(Operating profit Net sales*3 Equity income/loss of subsidiaries) Previous Previous Forecast Change ％ Forecast Change ％ Forecast Forecast Energy solution*1 23,159 23,

  14. Slide 14: Segment Information: Energy solution

    Segment Information: Energy solution 14 Summary of Results (Unit: 100 million yen) FY2024 Previous FY2023 Change % Change % Forecast Forecast Results Net sales 23,159 23,159 0 ― 24,228 -1,069 -4.4 City gas 16,352 16,352 0 ― 17,014 -662 -3.9 Electric Power 6,054 6,054 0 ― 6,327 -273 -4.3 Segment Prof

  15. Slide 15: Segment Information: Energy solution

    Segment Information: Energy solution 15 Summary of Results (Unit: 100 million yen) FY2024 Previous FY2023 Change % Change % Forecast Forecast Results Segment Assets 17,940 17,940 0 ― 17,083 857 5.0 ROA (%) 5.7 5.6 0.1 ― 12.0 -6.3 ― Depreciation 766* 766* 0* ― 699 67 9.5 Total 1,113 1,113 0 ― 688 425

  16. Slide 16: Full Year Forecast Consolidated Gas Sales Volume / Number of Customers

    FY2024 Full Year Forecast Consolidated Gas Sales Volume/ Number of Customers vs. FY2023 16 City Gas sales volume: 15,000 （ Unit： mil. ㎥） Residential Number of customers(City Gas), LNG sales volume FY2024 Previous FY2023 Change Change Forecast Forecast Results Commercial Number of customers (meters)

  17. Slide 17: Full Year Forecast Consolidated Electricity Sales Volume

    FY2024 Full Year Forecast Consolidated Electricity Sales Volume vs. FY2023 17 Electricity sales volume： （ Unit：mil. kWh ） 30,000 VS. Previous Forecast ±0mil.㎥ (ー) 25,479 24,060 25,000 Retail Sales 20,000 VS. FY2023 Results 13,439 -1,419mil. kWh (-5.6%) 15,000 24,060 24,060 10,000 Wholesale etc. 12,0

  18. Slide 18: Segment Information: Network

    Segment Information: Network 18 Summary of Results (Unit: 100 million yen) FY2024 Previous FY2023 Change % Change % Forecast Forecast Results Net sales 3,368 3,368 0 ― 3,264 104 3.2 Segment Profit 12 12 0 ― -39 51 ― (Operating profit + Equity income/loss of subsidiaries) Segment Assets 6,360 6,360 0

  19. Slide 19: Segment Information: Overseas business

    Segment Information: Overseas business 19 Summary of Results (Unit: 100 million yen) FY2024 Previous FY2023 Change % Change % Forecast Forecast Results Net sales 1,827 1,867 -40 -2.1 1,201 626 52.0 Segment Profit 309 349 -40 -11.5 304 5 1.4 (Operating profit + Equity income/loss of subsidiaries) Seg

  20. Slide 20: Segment Information: Urban Development

    Segment Information: Urban Development 20 Summary of Results (Unit: 100 million yen) FY2024 Previous FY2023 Change % Change % Forecast Forecast Results Net sales 721 721 0 ― 911 -190 -20.9 Segment Profit 159 159 0 ― 229 -70 -30.7 (Operating profit + Equity income/loss of subsidiaries) Segment Assets

  21. Slide 21: FY2024 Consolidated Forecast: Factors for Changes from FY2023

    FY2024 Consolidated Forecast (Apr. 1, 2024 – Mar. 31, 2025) vs. FY2023 21 Factors for Changes from FY2023 Ordinary profit (100 million yen) 2,281 Increase in profit Increase in profit Increase in profit from Overseas from Network from Consolidated business adjustment 51 5 7 1,110 -1,018 -70 Decrease

  22. Slide 22: Reference Materials

    03 Reference Materials Copyright© TOKYO GAS Co., Ltd. All Rights Reserved.

  23. Slide 23: Gas Gross Margin Sensitivity to Crude Oil Price and Exchange Rate

    Gas Gross Margin Sensitivity to Change in Crude Oil Price and Exchange Rate 23 Impact of rising JCC（Japan Crude Cocktail Prices) by $1/bbl (Unit: 100 million yen) Impact on earnings 2Q 3Q 4Q Full year 2Q -1 -9 +6 -4 3Q ― -2 -9 -11 Period 4Q ― ― -2 -2 Full year -1 -11 -5 -17 Impact of depreciation of

  24. Slide 24: Crude oil price・Exchange rate

    Crude oil price・Exchange rate 24 Crude oil price（Japan Crude Cocktail Prices） ($/bbl) 120.00 110.00 100.00 90.00 80.00 70.00 60.00 50.00 40.00 30.00 20.00 FY2024 FY2023 FY2022 Exchange rate (¥/$) 160.0 155.0 150.0 145.0 140.0 135.0 130.0 125.0 120.0 FY2024 FY2023 FY2022 Copyright© TOKYO GAS Co., Ltd

  25. Slide 25: Realizing management mindful of capital costs and stock prices

    Realizing management mindful of capital costs and stock prices 25 Trends in key indicators Achieve PBR of more than one early PBR and move to a higher level PER 2.00 30.00 1.80 25.00 1.60 1.40 20.00 1.20 1.00 15.00 0.80 10.00 0.60 0.40 5.00 0.20 0.00 0.00 FY2013 FY2014 FY2015 FY2016 FY2017 FY2018 FY

  26. Slide 26: Realizing management mindful of capital costs and stock prices

    Realizing management mindful of capital costs and stock prices 26 (1) Advancing business portfolio management  We introduced KPI tree-based business management this fiscal year to facilitate the achievement of our Group KGIs/KPIs. Each internal company, key business subsidiary, etc. defines and imp

  27. Slide 27: Overseas Projects

    Overseas Projects 27 9 1 2 4 5 7 3 6 8 Area No Country Subject Main Business Participation year Eagle Ford Upstream Shale gas 2016 TG Natural Resources Upstream Shale gas 2017 TGES America Downstream Energy Service 2015 1 U.S.A Birdsboro Downstream Natural gas power 2017 North America Aktina Downstr

  28. Slide 28: Cautionary Statement regarding Forward-looking Statements

    < Cautionary Statement regarding Forward-looking Statements > Statements made in this presentation with respect to Tokyo Gas’s present plans, forecasts, strategies and beliefs, and other statements herein that are not expressions of historical fact are forward-looking statements about the future per

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