Enbridge Inc. · TSX:ENB
Enbridge — Investor Presentation (November 2023)
9 slides from Enbridge's investor presentation, Nov 29, 2023
Slide 1: 2024 Financial Guidance
2024 Financial Guidance November 29, 2023 Enbridge Inc. (TSX: ENB; NYSE: ENB)
Slide 2: Legal Notice
Legal Notice Forward Looking Information This presentation includes certain forward-looking statements and information (FLI) to provide potential investors and shareholders of Enbridge Inc. (Enbridge or the Company) with information about Enbridge and its subsidiaries and affiliates, including manag
Slide 3: 2024 Financial Guidance – Base Business
2024 Financial Guidance – Base Business1 Adjusted EBITDA1,2 DCF/share1,2 Dividend/share ($B) $16.6 – $15.9 – $17.2 $5.25 – $5.40 – $16.5 $5.80 $3.55 $3.66 $15.5 $5.42 $5.65 $3.44 $3.34 $14.0 $4.96 2021 2022 2023e 2024e 2021 2022 2023e 2024e 2021 2022 2023e 2024e Base business growth underpinned by s
Slide 4: EBITDA Guidance – Base Business
2024 EBITDA Guidance – Base Business1 ($ Millions) 2024e Growth Drivers vs. 2023 Guidance Strong system utilization; partially offset by a lower Liquids Pipelines ~9,300 Mainline toll Morrow Renewables, Aitken Creek, Tres Palacios Gas Transmission & Midstream ~4,700 Venice extension partial ye
Slide 5: DCF Guidance – Base Business
2024 DCF Guidance – Base Business1 ($ Millions) 2024e Drivers vs. 2023 Guidance Adjusted EBITDA2 (from prior slide) $16,600 - $17,200 Maintenance Capital ~(1,000) Financing Costs ~(4,100) Higher interest rates & new issuances Current Income Taxes3 ~(750) Higher earnings Distributions to Non-cont
Slide 6: Planning Parameters
2024 Planning Parameters Base Business – Assumptions Quarterly Profile – 2024e • Guidance excludes impacts of acquiring U.S. gas utilities: (Adjusted EBITDA1) – No EBITDA/DCF contributions and no associated capex – C$4.6 billion equity bought deal2 – US$2B & C$1B Hybrid bond issuances3 • Embedded re
Slide 7: 2024e Base Business Funding Plan
2024e Base Business Funding Plan Uses & Sources ($ Billions) 2024 Exit D/EBITDA2 4.5x 5.0x ~$7 Debt Maturities ~$8 Debt Funding ~$5 Secured Growth Capital DCF3 Payout ~$7 ~$12 60% 70% Common Share Internal Cash Flow1 Dividends ~$1 Maintenance Uses Sources Debt/EBITDA and DCF payout for base business
Slide 8: Indicative EBITDA Impact as Gas Utilities Close
Indicative EBITDA Impact as Gas Utilities Close 2024 Segmented EBITDA1 growth above the 2023 midpoint ($ millions) ~4.5% All 3 gas utilities acquisitions Base Business expected to close in 2024 Renewable EBITDA Gas Growth Distribution Power E&O 2024 is expected to include partial Gas & Storage $
Slide 9: Contact Information
Contact Information Rebecca Morley Vice President, Investor Relations 1-800-481-2804 Investor.Relations@enbridge.com