Southern Company (the) · NYSE:SO

Southern Company (the) — Q4 2008 Earnings Presentation

8 slides from Southern Company (the)'s earnings presentation, Jan 28, 2009

  1. Slide 1: Southern Company

    Southern Company January 28, 2009

  2. Slide 2: Cautionary Statement Regarding Forward-Looking Information

    Cautionary Statement Regarding Forward-Looking Information NOTE: Certain information contained in this presentation is forward-looking information based on current expectations and plans that involve risks and uncertainties. Forward-looking information includes, among other things, statements concer

  3. Slide 3: 2008 vs 2007 Earnings Drivers

    2008 vs 2007 Earnings Drivers (Excluding synthetic fuel investments/SILO adjustments) $2.50 +3¢ $2.37 +2¢ +1¢ +2¢ +56¢ Southern Parent & AFUDC Other Other Power $2.25 $2.21 -18¢ Revenue -9¢ $2.00 Depr, Amort & Interest -10¢ Weather -5¢ Non-fuel -2¢ O&M -4¢ Other $1.75 Taxes Retail Usage & Shares Ret

  4. Slide 4: 3-Year Capital Expenditures Forecast

    3-Year Capital Expenditures Forecast ($ in billions) Total Major Projects 2009 - 2011 2009 2010 2011 '09-'11 Alabama Power $1.4 $1.0 $1.0 $3.4 3 Year Total Georgia Power 2.7 2.6 2.6 7.9 Vogtle 3&4 (Georgia) $ 1.9 Gulf Power 0.5 0.3 0.4 1.2 McDonough (Georgia) 1.3 Mississippi Power 0.2 0.5 1.0 1.6 IG

  5. Slide 5: 2009 Guidance: $2.30 to $2.45

    EPS Guidance 2009 Guidance: $2.30 to $2.45 Long-term Outlook 2004 - 2008 A track record of Average Growth Rate ƒ In a post-recessionary solid EPS growth* 5.4% economy, we have a goal of a long-term average EPS growth rate of 6% $2.37 $2.10 $2.21 ƒ The fundamentals of our $1.92 $2.03 business remain

  6. Slide 6: Appendix

    SOUTHERN COMPANY

  7. Slide 7: Reconciliation of 2001-2008 EPS excluding adjustments to EPS as reported under GAAP

    Reconciliation of 2001-2008 EPS excluding earnings from synthetic fuel investments and SILO adjustments to EPS as reported under GAAP 2001 2002 2003 2004 2005 2006 2007 2008 EPS excluding synthetic $1.58 $1.81 $1.95 $1.92 $2.03 $2.10 $2.21 $2.37 fuel investments Earnings from synthetic fuel 0.04 0.0

  8. Slide 8: 2009 – 2011 Projected Security Issuances

    2009 – 2011 Projected Security Issuances Total (millions) 2009 2010 2011 2009-2011 Alabama $975 $125 $100 $1,200 Georgia 900 900 1,300 3,100 Gulf 325 30 190 545 Mississippi 110 200 500 810 Southern Power - 200 350 550 Holding Company 250 600 - 850 Total $2,560 $2,055 $2,440 $7,055

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