Tokyo Gas Co., Ltd. · TSE:9531

Tokyo Gas — Q2 FY2024 Earnings Presentation

31 slides from Tokyo Gas's earnings presentation, Oct 30, 2024

  1. Slide 1: FY2024 2Q Financial Results

    TSE:9531 FY2024 2Q Financial Results ended September, 2024 October 30, 2024

  2. Slide 2: Working toward continuous enhancement of corporate value

    Working toward continuous enhancement of corporate value 2 ■Financial foundation for realizing Compass 2030 By strengthening our business portfolio management as outlined in Compass Transformation 23-25 (Medium-term Management Plan for FY2023-2025), we will maintain both financial soundness and grow

  3. Slide 3: Working toward continuous enhancement of corporate value

    Working toward continuous enhancement of corporate value 3 In order to achieve the targets of the 23-25 Medium-Term Management Plan, in addition to returns to shareholders based on the shareholder return policy, during FY2024, The Company has decided to newly acquire 40 billion yen of treasury share

  4. Slide 4: Balance sheet management

    Working toward continuous enhancement of corporate value 4 Balance sheet management  Realize continuous enhancement of corporate value through both business strategy and capital policy  Business strategy: Pursue business portfolio management aimed at improving asset efficiency and continuously cre

  5. Slide 5: Key Topics of FY2024 2Q Consolidated Results

    Key Topics of FY2024 2Q Consolidated Results 5 (unit : 100 million yen)  Consolidated FY2024 2Q saw a YoY decline in both sales and profits, driven by a decrease in city gas unit price due to resource costs adjustment, etc. FY2024 2Q Net sales：12,214(vs FY2023 2Q Results -513) Profit attributable t

  6. Slide 6: FY2024 Consolidated Financial Results

    01 FY2024 Consolidated Financial Results ended September, 2024 Note:The segment information disclosed for FY2024 and FY2023(excluding segment assets and ROA of FY2023)reflects new segment classifications that went into effect from FY2024 as a result of a restructuring of our subsidiary TOKYO GAS UNI

  7. Slide 7: Highlights: Sales Down, Profit Down

    FY2024 2Q Consolidated Results Sales, Interest, etc. (Apr. 1, 2024 –Sep. 30, 2024) vs. FY2023 2Q 7 Highlights: Sales Down, Profit Down (+/- indicate impact on profit, 100 million yen) vs. FY2023 2Q Net sales -513 Drop in Energy Solution sales by a decrease in unit price due to resource costs adjustm

  8. Slide 8: 2Q Results: Sales and Operating Profit/Loss by Business Segments

    FY2024 2Q Results: Sales and Operating Profit/Loss by Business Segments vs. FY2023 2Q 8 (unit : 100 million yen) Segment Profit(Operating profit Net sales*3 + Equity income/loss of subsidiaries) FY2024 2Q FY2023 2Q FY2024 2Q FY2023 2Q Change ％ Change ％ Results Results Results Results Energy solution

  9. Slide 9: 2Q Results: Ordinary Profit Analysis

    FY2024 2Q Results : Ordinary Profit Analysis vs. FY2023 2Q 9  City gas -600 Decrease in city gas gross margin -430 (unit : 100 million yen) Change in volume, etc.-55 ,sliding time lag effect -375 (Net sales) -204:Change in volume, etc.-7, sliding time lag effect -197 Energy (Resource costs, etc.)-2

  10. Slide 10: 2Q Consolidated Gas Sales Volume/ Number of Customers

    FY2024 2Q Consolidated Gas Sales Volume/ Number of Customers vs. FY2023 2Q 10 City Gas sales volume: （ Unit： mil. ㎥） Number of customers(City Gas), LNG sales volume 6,000 +22mil.㎥ (+0.4%) FY2024 2Q FY2023 2Q Change ◼Residential -56 mil.㎥(-5.7%) Results Results 5,150 5,128 12.0 Number of customers (m

  11. Slide 11: 2Q Consolidated Electricity Sales Volume/ Number of Customers

    FY2024 2Q Consolidated Electricity Sales Volume/ Number of Customers vs. FY2023 2Q 11 Electricity sales volume： New electricity retail customers won by Tokyo Gas （ Unit：mil. kWh ） Cumulative (thousands) Quarter (thousands) -937mil. kWh 300 4,500 14,000 (-7.5%) 3,871 3,975 4,022 4,000 12,570 3,697 3,

  12. Slide 12: FY2024 Full Year Forecast

    02 FY2024 Full Year Forecast Note:The segment information disclosed for FY2024 and FY2023(excluding segment assets and ROA of FY2023)reflects new segment classifications that went into effect from FY2024 as a result of a restructuring of our subsidiary TOKYO GAS UNITED KINGDOM LTD. from the Energy s

  13. Slide 13: Medium-term Management Plan Key figures

    Medium-term Management Plan (Announced: February 22, 2023） Key figures 13 FY2024 FY2023 FY2025 Reference Forecast Results Segment profits (operating profit + equity income of 1,500 1,320 2,233 subsidiaries, 100 million yen) approx. Net profit / Total assets (average of the amounts ROA 2.1% 4.5% as o

  14. Slide 14: FY2024 Plan (Consolidated) Segment ROA

    FY2024 Plan (Consolidated) Segment ROA 14 • As part of our actions for advancing business portfolio management, we have introduced a management approach based on individual ROA targets set for each internal company and core business subsidiary. • We disclose each segment’s ROA forecast of the fiscal

  15. Slide 15: Highlights: Sales Down, Profit attributable to owners of parent Unchanged

    FY2024 Consolidated Forecast Sales, Interest, etc. (Apr. 1, 2024 – Mar. 31, 2025) vs. Previous Forecast 15 Highlights: Sales Down, Profit attributable to owners of parent Unchanged (vs. Previous Forecast) (+/- indicate impact on profit, 100 million yen) vs. Previous Forecast Net sales +150 Increase

  16. Slide 16: Full Year Forecast: Operating Profit/Loss by Business Segments

    FY2024 Full Year Forecast: Operating Profit/Loss by Business Segments vs. Previous Forecast 16 (unit : 100 million yen) Segment Profit(Operating profit Net sales*3 Equity income/loss of subsidiaries) Previous Previous Forecast Change ％ Forecast Change ％ Forecast Forecast Energy solution*1 23,497 23,

  17. Slide 17: Segment Information: Energy solution

    Segment Information: Energy solution 17 Summary of Results (Unit: 100 million yen) (Unit: 100 million yen) Change in segment profits FY2024 Previous FY2023 2,500 Change % Change % Forecast Forecast Results 2,000 Net sales 23,497 23,159 338 1.5 24,228 -731 -3.0 1,500 City gas 16,656 16,352 304 1.9 17

  18. Slide 18: Segment Information: Energy solution

    Segment Information: Energy solution 18 Summary of Results (Unit: 100 million yen) FY2024 Previous FY2023 Change % Change % Forecast Forecast Results Segment Assets 17,890 17,940 -50 -0.3 17,083 807 4.7 ROA (%) 6.8 5.7 1.1 19.3 12.0 -5.2 -43.3 Depreciation 758* 766* -8* -1.0 699 59 8.4 Total 1,053 1

  19. Slide 19: Full Year Forecast Consolidated Gas Sales Volume/ Number of Customers

    FY2024 Full Year Forecast Consolidated Gas Sales Volume/ Number of Customers vs. FY2023 19 City Gas sales volume: 15,000 （ Unit： mil. ㎥） Residential Number of customers(City Gas), LNG sales volume FY2024 Previous FY2023 Change Change VS. Previous Forecast Forecast Forecast Results Commercial +73mil.

  20. Slide 20: Full Year Forecast Consolidated Electricity Sales Volume

    FY2024 Full Year Forecast Consolidated Electricity Sales Volume vs. FY2023 20 Electricity sales volume： （ Unit：mil. kWh ） 30,000 VS. Previous Forecast +2mil.㎥ (+0.0%) 25,479 24,062 24,060 25,000 Retail Sales 20,000 VS. FY2023 Results 13,439 -1,417mil. kWh (-5.6%) 15,000 24,062 24,060 10,000 Wholesal

  21. Slide 21: Segment Information: Network

    Segment Information: Network 21 Summary of Results (Unit: 100 million yen) FY2024 Previous FY2023 Change % Change % Forecast Forecast Results Net sales 3,346 3,368 -22 -0.7 3,264 82 2.5 Segment Profit 12 12 0 ― -39 51 ― (Operating profit + Equity income/loss of subsidiaries) Segment Assets 6,330 6,3

  22. Slide 22: Segment Information: Overseas business

    Segment Information: Overseas business 22 Summary of Results (Unit: 100 million yen) FY2024 Previous FY2023 Change % Change % Forecast Forecast Results Net sales 1,608 1,827 -219 -12.0 1,201 407 33.8 Segment Profit 165 309 -144 -46.6 304 -139 -45.9 (Operating profit + Equity income/loss of subsidiar

  23. Slide 23: Segment Information: Urban Development

    Segment Information: Urban Development 23 Summary of Results (Unit: 100 million yen) FY2024 Previous FY2023 Change % Change % Forecast Forecast Results Net sales 777 721 56 7.8 911 -134 -14.7 Segment Profit 216 159 57 35.8 229 -13 -5.9 (Operating profit + Equity income/loss of subsidiaries) Segment

  24. Slide 24: Consolidated Forecast: Factors for Changes from FY2023

    FY2024 Consolidated Forecast (Apr. 1, 2024 – Mar. 31, 2025) vs. FY2023 24 Factors for Changes from FY2023 Ordinary profit (100 million yen) 2,281 Increase in profit from Network Increase in profit from Consolidated 51 adjustment,etc. 1 1,060 -819 Decrease in profit -139 -13 from Energy Decrease in p

  25. Slide 25: Reference Materials

    03 Reference Materials Copyright© TOKYO GAS Co., Ltd. All Rights Reserved.

  26. Slide 26: Gas Gross Margin Sensitivity to Crude Oil Price and Exchange Rate

    Gas Gross Margin Sensitivity to Change in Crude Oil Price and Exchange Rate 26 Impact of rising JCC（Japan Crude Cocktail Prices) by $1/bbl (Unit: 100 million yen) Impact on earnings 3Q 4Q Full year 3Q -1 -12 -13 Period 4Q ― -2 -2 Full year -1 -14 -15 Impact of depreciation of the yen by ¥1/$ (Unit:

  27. Slide 27: Crude oil price・Exchange rate

    Crude oil price・Exchange rate 27 Crude oil price（Japan Crude Cocktail Prices） ($/bbl) 120.00 110.00 100.00 90.00 80.00 70.00 60.00 50.00 40.00 FY2024 FY2023 FY2022 Exchange rate (¥/$) 160.0 155.0 150.0 145.0 140.0 135.0 130.0 125.0 120.0 FY2024 FY2023 FY2022 Copyright© TOKYO GAS Co., Ltd. All Rights

  28. Slide 28: Realizing management mindful of capital costs and stock prices

    Realizing management mindful of capital costs and stock prices 28 [Progress of our actions] *PBR, PER, ROA and ROE of FY2024 as of September 30, 2024 ＜PBR・PER＞ ＜ROA・ROE＞ PBR PER （％） Achieve PBR of more than one early and 20.0 2.00 move to a higher level 30.00 20.0 1.80 18.0 25.00 16.0 1.60 1.40 14.0

  29. Slide 29: Realizing management mindful of capital costs and stock prices

    Realizing management mindful of capital costs and stock prices 29 [Actions going forward] • Because of factors such as the recovery of cash from divestments in Australia, we have determined that we will still retain sufficient capital even after making growth investments. • And we will acquire treas

  30. Slide 30: Overseas Projects

    Overseas Projects 30 9 1 2 4 5 7 3 6 8 Area No Country Subject Main Business Participation year Eagle Ford Upstream Shale gas 2016 TG Natural Resources Upstream Shale gas 2017 TGES America Downstream Energy Service 2015 1 U.S.A Birdsboro Downstream Natural gas power 2017 North America Aktina Downstr

  31. Slide 31: Cautionary Statement regarding Forward-looking Statements

    < Cautionary Statement regarding Forward-looking Statements > Statements made in this presentation with respect to Tokyo Gas’s present plans, forecasts, strategies and beliefs, and other statements herein that are not expressions of historical fact are forward-looking statements about the future per

Tokyo Gas — Q2 FY2024 Earnings Presentation on 6ix