Slide 1: Second Quarter 2013 Earnings Conference Call
Second Quarter 2013 Earnings Conference Call Exhibit 99.2
Slide 2: Presenters
John Walsh President & CEO, UGI Kirk Oliver Chief Financial Officer, UGI Jerry Sheridan President & CEO, AmeriGas
Slide 3: An almost 30% increase in EPS over Q2 of FY12
An almost 30% increase in EPS over Q2 of FY12 Second Quarter EPS +28% over Q2 of Fiscal 12
Slide 4: Weather vs Normal
Weather vs Normal - 1.5% -21.7% 10.1% 1.2% 5.1% -2.1% 1.9% - 19.3% -25% -20% - 15% -10% - 5% 0% 5% 10% 15% FY2013 FY2012 AmeriGas Antargaz Flaga Utility
Slide 5: AmeriGas
AmeriGas VOLUME Colder weather Full-period impact of Heritage OPEX Full-period impact of Heritage Higher sales activity Synergies Transition expenses: $2.7 MM lower than prior year Increase in miscellaneous income Total Margin * Opex includes all operating expenses, net of miscellaneous income. 195.
Slide 6: International Propane
International Propane VOLUME Colder weather Timing of deliveries in Q2 of FY12 MARGIN Higher unit margins at Antargaz Higher natural gas marketing margin OPEX Antargaz operating expenses Transition expense of $1 million in prior period Total Margin * Opex includes all operating expenses, net of misc
Slide 7: Gas Utility
Gas Utility MARGIN Colder weather Conversions from heating oil OPEX Higher pension and system maintenance expenses * Opex includes all operating expenses, net of miscellaneous income. 74.9 96.4 24.6 5.3 (8.7) (0.5) 0.8 $60 $70 $80 $90 $100 $110 Income Before Taxes , $ MM Total Margin Total margin re
Slide 8: Midstream & Marketing
Midstream & Marketing MARGIN Colder weather Gas price volatility in January Lower power marketing margins due to lower average unit price s D&A Increase due to Temple II Total Margin * Opex includes all operating expenses, net of miscellaneous income. 29.3 43.2 8.4 4.2 3.5 (1.4) (1.3) 0.5 $10 $20 $3
Slide 9: Liquidity
Liquidity Int'l Corporate/ Total AmeriGas Propane Utilities Midstream Other Cash on hand 446.3 $ 123.1 $ 165.7 $ 58.3 $ 11.8 $ 87.4 $ Revolving Credit Facilities 525.0 $ 125.0 $ 300.0 $ 240.0 $ NA Accounts receivable facility NA NA NA 59.1 $ NA Drawn on facilities (115.9) $ (14.8) $ - $ (47.0) $ NA
Slide 10: Jerry Sheridan, CEO of AmeriGas
Jerry Sheridan CEO of AmeriGas
Slide 11: Adjusted EBITDA
246.0 317.6 Q2 Adjusted EBITDA 29% over Q2 of Fiscal 12 * See appendix for Adjusted EBITDA reconciliation 29% over Q2 of Fiscal 12 * See appendix for Adjusted EBITDA reconciliation $150 $200 $250 $300 $350 Adjusted EBITDA*, $ Millions
Slide 12: Distribution Increase
Distribution Increase $2.00 $2.20 $2.40 $2.60 $2.80 $3.00 $3.20 $3.40 AmeriGas: Distributions per unit (excluding special distributions) 5.4% CAGR
Slide 13: John Walsh, President & CEO
John Walsh President & CEO
Slide 14: Concluding Remarks
Concluding Remarks • FY13 Guidance remains $2.40 - $2.50 , trending toward lower half • FY13 Will mark UGI’s consecutive year of dividends and consecutive year of dividend increases th th $0.60 $0.80 $1.00 $1.20 UGI: Dividends per share (excluding special distributions) 6.9% CAGR
Slide 15: UGI Corporation
UGI CORPORATION
Slide 16: UGI Corporation
UGI CORPORATION
Slide 17: AmeriGas Supplemental Information: Footnotes
AmeriGas Supplemental Information: Footnotes The enclosed supplemental information contains a reconciliation of earnings before interest expense, income taxes, depreciation and amortization ("EBITDA") and Adjusted EBITDA to Net Income. EBITDA and Adjusted EBITDA are not measures of performance or fi
Slide 18: AmeriGas Propane EBITDA Reconciliation
AmeriGas Propane EBITDA Reconciliation (1) Adjusted EBITDA is a non-GAAP financial measure. Management believes the presentation of this measure provides useful information to investors to more effectively evaluate the year-over-year results of operations of the Partnership. Management uses Adjusted
Slide 19: Investor Relations
Investor Relations: 610-337-1000 Hugh Gallagher (x1029) gallagherh@ugicorp.com Simon Bowman (x3645) bowmans@ugicorp.com