Ugi Corporation · NYSE:UGI
Ugi — Corporate Update (March 2020)
11 slides from Ugi's corporate update, Mar 26, 2020
Slide 1: Fiscal 2020 March
Fiscal 2020 March
Slide 2: About This Presentation
About This Presentation This presentation contains statements, estimates and projections which are forward-looking statements (as defined in Section 21E of the Securities and Exchange Act of 1934, as amended). Management believes that these are reasonable as of today’s date only. Actual results may
Slide 3: Use of Non-GAAP Measures
Use of Non-GAAP Measures In this presentation, Management uses UGI Corporation Free Cash Flow, a non-GAAP financial measure. This financial measure is not in accordance with, or an alternative to, GAAP and should be considered in addition to, and not as a substitute for, the comparable GAAP measures
Slide 4: Impact of COVID-19
Impact of COVID-19 • Implemented a COVID-19 Response Plan that assures the following: • Businesses are staffed for continuous supply of energy to our customers and for emergency calls • Employees take all necessary measures to keep themselves and our customers safe • Customer service centers are ava
Slide 5: Strong Balance Sheet and Liquidity
Strong Balance Sheet and Liquidity • Increased short-term liquidity by $210 million • March 19th – UGI Utilities completed a Note Purchase Agreement for a $150 million private placement priced at 3.12% with a maturity date of April 2050 • Proceeds will be used primarily to reduce short-term borrowin
Slide 6: Track Record of Generating Strong Cash Flow in Varying Economic Cycles
Track Record of Generating Strong Cash Flow in Varying Economic Cycles Cash Provided by Operating Activities $1,200.0 The Great Recession – worst $1,000.0 downturn since the Great Depression $800.0 UGI CORPORATION 6 $600.0 $'s $'s inmillions $400.0 $200.0 $- 2007 2008 2009 2010 2011 2012 2013 2014 2
Slide 7: History of Strong Free Cash Flow in Varying Economic Cycles
History of Strong Free Cash Flow in Varying Economic Cycles UGI Corporation Free Cash Flow1 $500.0 The Great $400.0 Recession – worst downturn since the Great Depression UGI CORPORATION $300.0 7 $'s $'s inmillions $200.0 $100.0 $- 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 (1)
Slide 8: Capex Update
Capex Update • Evaluating capex impact of COVID-19 across our businesses • No longer expect to spend $850 million; plan to reduce capex by a minimum of $120 million • Will communicate updated capex guidance as more information emerges • UGI Utilities – active dialogue with PA PUC; limiting direct in
Slide 9: Summary
Summary • UGI’s business is considered an essential service • UGI is well-prepared financially to deal with COVID-19 downturn • Strong Balance Sheet • $1.15 billion in total available liquidity UGI CORPORATION • Expect some volume challenges particularly from “non-essential” Commercial and 9 Industr
Slide 10: Appendix
Appendix
Slide 11: UGI Corporation Free Cash Flow
UGI Corporation Free Cash Flow ($ in millions) Year Ended September 30, 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 Net Cash Provided By Operating Activities $ 132.7 $ 203.5 $ 247.5 $ 249.1 $ 260.7 $ 437.7 $ 279.4 $ 456.2 $ 464.4 $ 665.0 Less: Expenditures for property, plant, and equipment (7