Tokyo Gas Co., Ltd. · TSE:9531

Tokyo Gas — FY2023 1Q Earnings Presentation

29 slides from Tokyo Gas's earnings presentation, Jul 27, 2023

  1. Slide 1: FY2023 1Q Financial Results

    TSE:9531 FY2023 1Q Financial Results ended June, 2023 July 27, 2023

  2. Slide 2: Today's Key Messages

    Today’s Key Messages 2  Consolidated FY2023 1Q saw a YoY rise in both sales and profits, driven by an increase in city gas unit price due to resource costs adjustment, etc.  Our consolidated forecast for FY2023 anticipates lower sales but higher profits versus the previous forecast. Factors includ

  3. Slide 3: FY2023 Consolidated Financial Results

    01 FY2023 Consolidated Financial Results ended June, 2023 Copyright© TOKYO GAS Co., Ltd. All Rights Reserved.

  4. Slide 4: Highlights: Sales UP, Profit Up

    FY2023 1Q Consolidated Results Sales, Interest, etc. (Apr. 1, 2023 –June 30, 2023) vs. FY2022 1Q 4 Highlights: Sales UP, Profit Up (+/- indicate impact on profit, billion yen) Net sales +39.7 Increase in city gas unit price due to resource costs adjustment, etc. Operating +2.0 Decrease in resource c

  5. Slide 5: 1Q Results: Sales and Operating Profit/Loss by Business Segments

    FY2023 1Q Results: Sales and Operating Profit/Loss by Business Segments vs. FY2022 1Q 5 (unit : billion yen) Segment Profit(Operating profit Net sales*4 + Equity income/loss of subsidiaries) FY2023 1Q FY2022 1Q FY2023 1Q FY2022 1Q Results Results Change ％ Results Results Change ％ Energy solution*1 （

  6. Slide 6: 1Q Results: Ordinary Profit Analysis vs. FY2022 1Q

    FY2023 1Q Results : Ordinary Profit Analysis vs. FY2022 1Q 6  Increase in city gas gross margin +¥18.9 bn: Energy Change in volume, etc. -5.3 (incl. change due to temp effect -2.2), sliding time lag effect +24.2 solution FY2023 (Net sales) ＋¥2.3 bn: Change in volume, etc. -25.4, sliding time lag ＋¥

  7. Slide 7: 1Q Consolidated Gas Sales Volume/Number of Customers

    FY2023 1Q Consolidated Gas Sales Volume/ Number of Customers vs. FY2022 1Q 7 City Gas sales volume: Number of customers(City Gas), LNG sales volume, Average temperature （ Unit： mil. ㎥） FY2023 FY2022 -391mil.㎥ (-13.7%) 3,000 1Q 1Q Change including temperature effect 2,857 Number of customers for city

  8. Slide 8: 1Q Consolidated Electricity Sales Volume/Number of Customers

    FY2023 1Q Consolidated Electricity Sales Volume/ Number of Customers vs. FY2022 1Q 8 Electricity sales volume： New electricity retail customers won by Tokyo Gas （ Unit：mil. kWh ） Quarter (thousands) Cumulative (thousands) -2,167mil. kWh 300 4,000 8,000 (-29.2%) 3,612 7,429 3,475 3,314 3,090 3,190 3,

  9. Slide 9: FY2023 Full Year Forecast

    02 FY2023 Full Year Forecast Copyright© TOKYO GAS Co., Ltd. All Rights Reserved.

  10. Slide 10: Highlights: Sales Down, Profit Up (vs. Previous Forecast)

    FY2023 Consolidated Forecast Sales, Interest, etc. (Apr. 1, 2023 – Mar. 31, 2024) vs. FY2022 10 Highlights: Sales Down, Profit Up (vs. Previous Forecast) (+/- indicate impact on profit, billion yen) vs. Previous Forecast Net sales -205.0 Decrease in city gas unit price due to resource costs adjustme

  11. Slide 11: Consolidated Forecast Assets, Cash Flows, etc.

    FY2023 Consolidated Forecast Assets, Cash Flows, etc. vs. FY2022 11 (Unit: billion yen, balance sheet figures are as of the corresponding term-end) FY2023 FY2022 Reference Forecast Results Total assets (a) 3,669.0 3,581.4 Increase in new capital expenditures, investments & financing, etc. Decrease f

  12. Slide 12: Investments (Capex, Investments and financing)

    FY2023 Investments （Capex , Investments and financing） (Unit: billion yen) 12 Previous FY2022 Forecast Main Items Change % Change ％ Forecast Results Capital Expenditure Energy solution 98.5 98.5 0 ー 74.7 23.8 31.8 Production facilities : 5.8 Other Production facilities, etc. ー City gas*1 48.7 48.7 0

  13. Slide 13: Breakdown of the Medium-Term Management Plan for FY2023-2025

    FY2023 Investments （Capex , Investments and financing） 13 Reference: Breakdown of the Medium-Term Management Plan for FY 2023-2025 (Unit: billion yen) FY2023 Previous FY2020-22 FY2023-25 Main Items Forecast Forecast Results Plan 475.8 650.0 Overseas, Renewable power, Urban Development, etc. Growth i

  14. Slide 14: Full Year Forecast: Sales and Operating Profit by Segment vs. Previous Forecast

    FY2023 Full Year Forecast: Sales and Operating Profit/Loss by Business Segments vs. Previous Forecast 14 (unit : billion yen) Segment Profit(Operating profit Net sales*4 + Equity income/loss of subsidiaries) FY2023 Previous FY2023 Previous Forecast Forecast Change ％ Forecast Forecast Change ％ Energy

  15. Slide 15: Forecast: Ordinary Profit Analysis vs. Previous Forecast

    FY2023 Forecast: Ordinary Profit Analysis vs. Previous Forecast 15 Energy solution  Increase in city gas gross margin +¥10.6 bn: +¥13.5bn Change in volume, etc. -3.8 (incl. change due to temp effect -2.0), (+11.2%) sliding time lag effect +14.4 FY2023 (Net sales) -¥81.8 bn: Change in volume, etc. -

  16. Slide 16: Full Year Forecast: Sales and Operating Profit by Segment vs. FY2022

    FY2023 Full Year Forecast: Sales and Operating Profit/Loss by Business Segments vs. FY2022 16 (unit : billion yen) Segment Profit(Operating profit Net sales *4 + Equity income/loss of subsidiaries) FY2023 FY2022 FY2023 FY2022 Forecast Results Change ％ Forecast Results Change ％ Energy solution*1 （inc

  17. Slide 17: Forecast: Ordinary Profit Analysis vs. FY2022

    FY2023 Forecast: Ordinary Profit Analysis vs. FY2022 17  Decrease in city gas gross margin -¥148.3 bn: Change in volume, etc. -7.1 (incl. change due to temp effect +2.3), Energy sliding time lag effect -141.2 solution (Net sales) -¥344.7 bn: Change in volume, etc. -44.3, sliding time -¥231.6bn lag

  18. Slide 18: Full Year Forecast Consolidated Gas Sales Volume/Number of Customers

    FY2023 Full Year Forecast Consolidated Gas Sales Volume/ Number of Customers 18 City Gas sales volume: Number of customers(City Gas), LNG sales volume, Average temperature （ Unit： mil. ㎥） VS. Previous Forecast Forecast Previous Change FY2022 Change Forecast Results 15,000 -104mil.㎥ (-0.9%) including

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

    FY2022 Full Year Forecast Consolidated Electricity Sales Volume/ Number of Customers 19 Electricity sales volume： New electricity retail customers won by Tokyo Gas （ Unit：mil. kWh ） Cumulative (1,000s) VS. Previous Forecast 35,000 34,445 4,000 3,611 -2,059mil. kWh 3,475 (-7.2%) 3,500 3,190 3,314 30,

  20. Slide 20: Factors for Changes from FY2022 Ordinary Profit

    FY2023 Consolidated Forecast (Apr. 1, 2023 – Mar. 31, 2024) vs. FY2022 20 Factors for Changes from FY2022 Ordinary profit (billion yen) 408.8 4.6 Increase in profit from Network business -38.4 Decrease in profit from Overseas business -30.7 Decrease in profit 6.7 from Electric power business Inprovi

  21. Slide 21: Reference Materials

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

  22. Slide 22: Gas Gross Margin Sensitivity to Change in Crude Oil Price and Exchange Rate

    Gas Gross Margin Sensitivity to Change in Crude Oil Price and Exchange Rate 22 Impact of rising JCC（Japan Crude Cocktail Prices) by $1/bbl Impact on earnings (Unit: billion yen) 2Q 3Q 4Q Full year 2Q -0.1 -0.7 +1.0 +0.2 3Q ― -0.1 -1.0 -1.1 Period 4Q ― ― -0.2 -0.2 Full year -0.1 -0.8 -0.2 -1.1 Impact

  23. Slide 23: Crude oil price・Exchange rate

    Crude oil price・Exchange rate 23 Crude oil price（Japan Crude Cocktail Prices） ($/bbl) 120.00 110.00 100.00 90.00 80.00 70.00 60.00 50.00 40.00 30.00 20.00 FY2023 FY2022 FY2021 Exchange rate (¥/$) 150.0 145.0 140.0 135.0 130.0 125.0 120.0 115.0 110.0 105.0 100.0 FY2023 FY2022 FY2021 Copyright© TOKYO

  24. Slide 24: Key Topics in FY2023 1Q: 3 Core Strategies

    Key Topics in FY2023 １Q (Excerpted from Press Releases) 24 Below are key initiatives of the 3 core strategies of the FY2023-2025 Medium- term Management Plan, which are based on our material issues. The strategies are: “Achieve both stable energy supply & decarbonization,” “Fully roll out Solutions

  25. Slide 25: Initiatives for the 3 Core Strategies

    Key Topics in FY2023 １Q (Excerpted from Press Releases) 25 FY2023-2025 Medium-term Management Plan: Material issues Initiatives for the 3 core strategies Carbon-negative concrete used at Motomachi Elementary School in Yokohama (Apr. 13) Achieve both Joint acquisition of solar power generation busine

  26. Slide 26: Initiatives for the 3 Core Strategies

    Key Topics in FY2023 １Q (Excerpted from Press Releases) 26 FY2023-2025 Medium-term Management Plan: Material issues Initiatives for the 3 core strategies Signing of comprehensive partnership agreement for realizing carbon Fully roll out neutrality in Ota City (June 28) Solutions business Signing of

  27. Slide 27: Key Topics: Carbon-Negative Concrete

    Key Topics in FY2023 １Q (Excerpted from Press Releases) 27 One of the three core strategies of the FY2023-2025 Medium-term Management Plan is Achieve both stable energy supply & decarbonization. Here is a look at a key initiative for advancing that strategy. Tokyo Gas and its partners have developed

  28. Slide 28: Overseas Projects

    Overseas Projects 28 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 1 TGES America Downstream Energy Service 2015 U.S.A Birdsboro Power Plant Downstream Natural gas power 2017 North America Ak

  29. Slide 29: 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

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