Exelon Corporation · NASDAQ:EXC
Exelon — UBS Natural Gas & Electric Utilities Conference 2004
13 slides from Exelon's conference presentation, Feb 11, 2004
Slide 1: The Exelon Way
The Exelon Way Robert S. Shapard Executive Vice President and CFO UBS Natural Gas & Electric Utilities Conference New York City February 11, 2004 Exelon Corporation
Slide 2: Forward-Looking Statements
This presentation contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, that are subject to risks and uncertainties. The factors that could cause actual results to differ materially from the forward-looking statements made by a regist
Slide 3: Accomplishments - Creating Real Value
Accomplishments - Creating Real Value Provided average annual growth of 10.6% in adjusted (non-GAAP) operating EPS*, excluding unusual items, and 9.2% in dividends Retired $1.9 billion of transition debt and refinanced/ retired $5.0 billion of other debt, resulting in total interest expense reductio
Slide 4: 2003 Financial Highlights
2003 Financial Highlights * Excludes project debt and cash flows; 2003 is preliminary. Note: See presentation appendix for reconciliation to GAAP reported results. Adjusted (non-GAAP) Operating Year ended December 31 ($ in millions, except per share data) 2003 2002 % Increase Operating Revenues 15,8
Slide 5: ComEd 2007 Transition
Exelon. ComEd 2007 Transition
Slide 6: Non-Wires Bundled Tariff for Mass Market
Non-Wires Bundled Tariff for Mass Market 2003 Actual* 2007 Estimate RES SCI LCI LCI (< 3 MW) Non-Wires Rate 49 43 49.9 49.9 48.9 28 Line Losses 3 3 Wires Rate 25 31 35.1 15.1 10.1 3 77 77 Assumes 25% increase in wires charges to recover investment in transmission and distribution infrastructure. * R
Slide 7: MAIN Region: Projected Peak Demand vs. Capacity
2004E 2005E 2006E 2007E 2008E 2009E 2010E (Peak Demand - Interruptibles) + 16% 64069 65518 67068 68761 70233 71791 73190 Capacity 68208 69103 69610 69602 70341 71868 73223 MAIN Region: Projected Peak Demand vs. Capacity Source: Platts
Slide 8: Financial Forecast
Exelon. Financial Forecast
Slide 9: Exelon Consolidated Key Assumptions
Exelon Consolidated Key Assumptions
Slide 10: O&M and CapEx Targets
O&M and CapEx Targets ($ millions) 2004 Annual Impact O&M* CapEx Total GenCo $ 80 $ 65 $ 145 $ 115 $ 125 $ 240 EED** 130 135 265 215 295 510 Total $ 210 $ 200 $ 410 $ 330 $ 420 $ 750 Cash Flow Summary 2004 Impacts GenCo $ 50 $ 65 $ 115 $ 71 $ 125 $ 196 EED 81 135 216 133 295 428 Total $ 131 $ 200 $
Slide 11: 2004 Cash Flow
2004 Cash Flow ($ in millions) 2004E Cash from Operations 3,880 Pension Funding (360) Net Cash from Operations 3,520 Requirements: Capital Expenditures (1,860) Common Dividends (730) Transition Debt (630) Total (3,220) Free Cash Flow Goal 300
Slide 12: Sources of Free Cash 2004-2006
Sources of Free Cash 2004-2006 ($ in millions) 2004-2006E The Exelon Way Commitment 1,000+ Resolution of Boston Generating and Sithe 400 Sale of Exelon Enterprises Businesses 200 Synthetic Fuels Investment 120 Total 1,720+
Slide 13: Positioned for Success
Positioned for Success Large, low-cost generation portfolio Large, stable retail customer base The Exelon Way initiatives Strong credit position Strong free cash flow Earnings growth without wholesale price recovery
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