Chubu Electric Power Company,incorporated · TSE:9502
Chubu Electric Power Company,incorporated — Q1 FY2022 Earnings Presentation
33 slides from Chubu Electric Power Company,incorporated's earnings presentation, July 2022
Slide 1: Presentation Materials for Investors 1st Quarter FY2022
Presentation Materials for Investors 1st Quarter FY2022 July, 2022
Slide 2: INDEX
INDEX Ⅰ Outline of Financial Results for Ⅲ Reference Data: Management Information Three-Months ended June 30, 2022 Summary of Financial Results ･････････････ 1 Consolidated Ordinary (Loss) Income and Net (Loss)Income ･･････････ 13 Summary of Financial Results by Segments ･････････････ 4 Fund Raising
Slide 3: Outline of Financial Results for Three-Months ended June 30, 2022
Outline of Financial Results for Ⅰ Three-Months ended June 30, 2022 Note: The company’s fiscal year (FY) is from April 1 to March 31 of the following year. FY2022 represents the fiscal year begun on April 1, 2022, and ending on March 31, 2023. 1st Quarter (1Q) represents three months period ended Ju
Slide 4: Summary of Financial Results <1>
Summary of Financial Results <1> <Points of Financial Results> (Consolidated) ■ Operating revenues: 765.9 billion yen Operating revenues increased by 241.0 billion yen compared with 2021/1Q, mainly due to an increase in fuel cost adjustment charge (134.8 billion yen). ■ Ordinary income: 32.2 billion
Slide 5: Summary of Financial Results <2>
Summary of Financial Results <2> <Factors contributing to change in consolidated operating revenues> (Operating revenues increased by 241.0 billion yen) （Billion yen） 8,000 800.0 Others An increase in fuel cost 106.2 adjustment charge 6,000 600.0 134.8 765.9 4,000 400.0 524.9 2021/1Q 2022/1Q Operati
Slide 6: Summary of Financial Results <3>
Summary of Financial Results <3> <Factors contributing to change in consolidated ordinary income> (Ordinary income decreased by 16.3 billion yen) （Billion yen） 600 60.0 An expansion of time lag loss 40.0 400 JERA Miraiz Power Grid (Excluding Others -36.0 -3.2 time lag) 48.5 -1.8 3.4 (-11.0→ -47.0) 3
Slide 7: Summary of Financial Results by Segments <1>
Summary of Financial Results by Segments <1> [Operating revenues] (Billion yen, %) 2022/1Q 2021/1Q Change (A) (B) (A-B) (A-B)/B Miraiz 597.5 409.5 187.9 45.9 Power Grid 221.6 173.8 47.7 27.5 Other (*1) 195.8 181.1 14.6 8.1 Adjustment (249.0) (239.6) (9.3) 3.9 Total 765.9 524.9 241.0 45.9 [Ordinary i
Slide 8: Summary of Financial Results by Segments <2>: Miraiz
Summary of Financial Results by Segments <2>: Miraiz <Factors contributing to change in Ordinary income > Ordinary income increased by 21.3 billion yen compared with 2021/1Q, mainly due to a review of selling prices according to the cost of supply for each customer and a decrease in power procuremen
Slide 9: Summary of Financial Results by Segments <3>: Power Grid
Summary of Financial Results by Segments <3>: Power Grid <Factors contributing to change in Ordinary income > Ordinary income decreased by 3.2 billion yen compared with 2021/1Q, mainly due to a decrease in transmission revenue and an increase in supply and demand adjustment costs. （Billion yen） 5.0
Slide 10: Summary of Financial Results by Segments <4>: JERA
Summary of Financial Results by Segments <4>: JERA <Factors contributing to change in Ordinary income > Ordinary income / loss decreased by 37.8 billion yen compared with 2021/1Q, mainly due to an expansion of time lag loss. [Reference] Ordinary income excluding time lag: Approx. 38.0 billion yen (d
Slide 11: Electrical Power Generation
Electrical Power Generation <Electrical Power Generation> (Chubu Electric Power) ■ Hydro Decreased by 0.4TWh since the flow rate was lower than 2021/1Q ■ Renewable energy Same as 2021/1Q (TWh,%) Change 2022/1Q 2021/1Q (A) (B) (A-B) (A-B)/B Hydro 2.4 2.8 (0.4) (12.9) <flow rate> <87.4> <105.8> <(18.4
Slide 12: [Reference] Image of Time Lag (Result)
[Reference] Image of Time Lag (Result) Loss Loss (11.0 billion yen) (47.0 billion yen) Elements of cost (fuel procurement) Elements of income (time lag from fuel procurement) 9 C o p y r i g h t © C h u b u E l e c t r i c P o we r C o . , I n c . A l l r i g h t s r e s e r v e d .
Slide 13: Summary of Forecast for FY2022
Summary of Forecast for FY2022 ■ Resource prices and wholesale electricity trading market prices, on which our business forecasts are based, remain uncertain, and it is difficult to make reasonable assumptions about our business forecast. Therefore, we have set our business forecasts for the current
Slide 14: Reference Data: Financial Results
Ⅱ Reference Data : Financial Results C o p y r i g h t © C h u b u E l e c t r i c P o we r C o . , I n c . A l l r i g h t s r e s e r v e d .
Slide 15: Consolidated Statements of Income
Consolidated Statements of Income (Billion yen,%) 2022/1Q 2021/1Q Change (A) (B) (A-B) (A-B)/B Operating revenues 765.9 524.9 241.0 45.9 Share of profit of entities accounted for using equity method - 29.3 (29.3) - Other 3.9 2.5 1.4 55.9 Nonoperating revenues 3.9 31.8 (27.8) (87.6) Ordinary revenues
Slide 16: Consolidated Financial Standing
Consolidated Financial Standing (Billion yen) Jun. 30, 2022 Mar. 31, 2022 Change (A) (B) (A-B) Assets 6,306.9 6,174.7 132.2 Liabilities 4,067.9 4,051.4 16.4 Net assets 2,239.0 2,123.2 115.7 Shareholders' equity ratio (%) 33.8 32.7 1.1 Outstanding interest-bearing debt 2,910.6 2,800.2 110.3 Forecast
Slide 17: Reference Data: Management Information
Ⅲ Reference Data: Management Information C o p y r i g h t © C h u b u E l e c t r i c P o we r C o . , I n c . A l l r i g h t s r e s e r v e d .
Slide 18: Consolidated Ordinary (Loss)Income and Net (Loss)Income
Consolidated Ordinary (Loss)Income and Net (Loss)Income [Ordinary (Loss)Income] [Net (Loss)Income] (billion yen) (billion yen) 300.0 300.0 255.6 250.0 250.0 200.0 191.8 192.2 200.0 169.7 163.4 147.2 150.0 150.0 128.5 121.4 112.9 114.6 100.0 100.0 74.3 79.4 60.2 50.0 50.0 38.7 0.0 0.0 (50.0) (43.5) (
Slide 19: Fund Raising and Outstanding Interest-bearing Debt
Fund Raising and Outstanding Interest-bearing Debt [Fund raising (Nonconsolidated) ] [Outstanding Interest-bearing debt (Consolidated) ] (billion yen) (billion yen) 900.0 3,400.0 3,260.5 3,260.0 800.0 3,200.0 700.0 2,981.1 3,000.0 2,918.9 600.0 526.0 2,800.2 500.0 2,800.0 2,674.7 390.0 400.0 2,625.4
Slide 20: Consolidated Cash Flow
Consolidated Cash Flow （billion yen） 800.0 Cash Flows from Operating Activities Cash Flows from Investing Activities FCF 600.0 562.4 * Capital Investment 476.8 424.1 400.0 384.1 335.0 254.4 296.4 227.6 194.0 255.8 203.7 168.3 200.0 79.6 21.6 0.0 (25.1) (62.8) (240.3) (102.9) (200.0) (71.9) (215.8) (
Slide 21: Consolidated Financial Ratio and Credit Ratings
Consolidated Financial Ratio and Credit Ratings (%) [Shareholders’ equity ratio] [Debt-Equity ratio] (Times) 40.0 2.5 35.7 2.3 35.0 2.2 34.4 32.7 2.0 2.0 31.1 31.3 1.7 29.7 1.6 1.6 30.0 28.9 1.5 1.5 1.4 1.3 26.1 24.7 1.1 25.0 24.2 1.0 20.0 （FY） 0.5 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 （
Slide 22: Consolidated ROA and ROE
Consolidated ROA and ROE （%） [ROA] *Figures excluding time lag （%） [ROE] *Figures excluding time lag 6.0 12.0 5.0 10.0 4.0 8.0 7.4 3.4 6.8 3.2 6.6 3.2 6.3 3.0 3.0 6.0 5.5 2.4 2.6 4.1 2.0 4.0 1.7 1.4 1.0 0.8 2.0 1.9 1.3 0.6 0.1 0.0 0.0 (0.6) (1.0) (2.0) (2.0) (4.0) 2012 2013 2014 2015 2016 2017 2018
Slide 23: Consolidated ROIC and Total Shareholders Return (TSR)
Consolidated ROIC and Total Shareholders Return (TSR) （%） [ROIC] *Figures excluding time lag 【TSR】 5.0 Total Shareholders Return is a ratio that return earned on equity investments (dividend and capital gain) divided by investment amount (stock price). （%） 180.0 4.0 3.4 3.3 141.5 3.3 150.0 144.3 3.0
Slide 24: Sales Figures of Miraiz Group
Sales Figures of Miraiz Group 2022/1Q Target The number of entry; Approx. 2.46 million - New electric tariff menu As of June, 2022 Chubu region The number of sales; Approx. 61 thousand Acquire 100 thousand customers Services in a set with electric power or gas As of June, 2022 early from FY 2021 Inc
Slide 25: Monthly Breakdown of Electrical Energy Sold of Miraiz
Monthly Breakdown of Electrical Energy Sold of Miraiz (TWh) FY2022 Apr. May June 1Q Low voltage 2.6 2.1 1.8 6.5 High voltage・ Extra-high 5.9 5.5 6.2 17.6 voltage Total 8.5 7.6 8.0 24.1 (TWh) FY2021 Apr. May June July Aug. Sep. Oct. Nov. Dec. Jan. Feb. Mar. Total Low voltage 2.7 2.3 1.9 2.3 2.9 2.5 2
Slide 26: Structure of Power Generated and Procured
Structure of Power Generated and Procured (preliminary results) Structure of Power Generated and Procured Usage status of non-fossil fuel certificate Other*2 Not Specified 7% 11% JEPX*1 Nuclear 14% 15% Coal Coal Specified in renewable Renewable 26% 21% energy 9% 12% FIT*3 Oil 8% 4% Not Used LNG 77%
Slide 27: Overview of Renewable Energy Business
Overview of Renewable Energy Business At present, the capacity of our entire group is approx. 710 MW, against the target of expanding renewable energy capacity* to 3.2 GW or more by around 2030. *In addition to the renewable energy facilities owned by our group, this includes the capacity of facilit
Slide 28: Expansion of Global Business <1>
Expansion of Global Business <1> ○ In the global business (overseas business), we will form an optimized portfolio by combining four segments (Green area, Blue area, Retail/Transmission and Distribution(T&D)/New service area, and New technology area) to become a decarbonized energy company mainly in
Slide 29: Expansion of Global Business <2>
Expansion of Global Business <2> In Europe, we use Eneco as platform for European strategy to expand growth areas (renewable, retail, new services). 【About acquisition of Eneco】 Investment 4.1 billion euros (approx. 500 billion yen) (Mar. 2020) (Investment ratio: Mitsubishi 80%, Chubu 20%) Comprehen
Slide 30: Expansion of Global Business <3>
Expansion of Global Business <3> Germany Submarine Power Canada Netherlands Myanmar Transmission Business Uisce Tapa Tidal Energy Renewable Energy, Submarine power transmission Power Distribution Project Electricity Retail and business for offshore wind Improvement Project Joint Development Agreemen
Slide 31: Current status of the Hamaoka Nuclear Power Station
Current status of the Hamaoka Nuclear Power Station Responding to the Inspection with New Regulatory Standards by the Nuclear Regulation Authority at the Hamaoka Nuclear Power Plant acting with the resolve never to repeat an accident similar to the Fukushima Daiichi Nuclear Power Station Promoting m
Slide 32: DISCLAIMER
DISCLAIMER This presentation contains assumptions and forward-looking statements with respect to the financial conditions, and forecasts of the company, which are based on information currently available. These assumptions involve certain risks and uncertainties, and may cause actual results materia
Slide 33: C o p y r i g h t © C h u b
C o p y r i g h t © C h u b u E l e c t r i c P o we r C o . , I n c . A l l r i g h t s r e s e r v e d .
Chubu Electric Power Company — Q1 FY2022 Earnings Presentation on 6ix