Chubu Electric Power Company,incorporated · TSE:9502
Chubu Electric Power Company,incorporated — Q1 FY2020 Earnings Presentation
33 slides from Chubu Electric Power Company,incorporated's earnings presentation, July 2020
Slide 1: Presentation Materials for Investors 1st Quarter FY2020
Presentation Materials for Investors 1st Quarter FY2020 July, 2020
Slide 2: INDEX
INDEX Ⅰ Outline of Financial Results for Ⅲ Reference Data: Management Information Three-Months ended June 30, 2020 Summary of Financial Results ･････････････ 1 Consolidated Ordinary Income (Loss) and Net Income (Loss) ････････････16 Summary of Financial Results by Segments ･････････････ 4 Consolidat
Slide 3: Outline of Financial Results for Three-Months ended June 30, 2020
Outline of Financial Results for Ⅰ Three-Months ended June 30, 2020 Note: The company’s fiscal year (FY) is from April 1 to March 31 of the following year. FY2020 represents the fiscal year begun on April 1, 2020, and ending on March 31, 2021. 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: 682.3 billion yen Operating revenues decreased by 72.1 billion yen compared with 2019/1Q, mainly due to a decrease in electrical energy sold caused by the impact of COVID-19 (-50.4 billion yen) and a
Slide 5: Summary of Financial Results <2>
Summary of Financial Results <2> [Factors contributing to change in consolidated operating revenues] (Operating revenues decreased by 72.1 billion yen) （Billion yen） 8,000 800.0 A decrease in electrical energy sold -50.4 A decrease in fuel cost adjustment charge 7,000 700.0 Others -27.8 754.4 6.1 68
Slide 6: Summary of Financial Results <3>
Summary of Financial Results <3> [Factors contributing to change in consolidated ordinary income] (Ordinary income decreased by 32.3 billion yen) （Billion yen） 900 90.0 A decrease in A decrease in transmission revenue due to a decrease in energy demand in time lag income Chubu region (-) JERA -17.0
Slide 7: Summary of Financial Results by Segments <1>
Summary of Financial Results by Segments <1> [Operating revenues] (Billion yen, %) 2020/1Q 2019/1Q Change (A) (B) (A-B) (A-B)/B Miraiz 584.5 670.7 (86.1) (12.8) Power Grid 170.3 179.2 (8.8) (4.9) Others (*1) 162.3 169.3 (6.9) (4.1) Adjustment charge (235.0) (264.8) 29.8 (11.3) Total 682.3 754.4 (72.
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 6.7 billion yen compared with 2019/1Q, mainly due to the effort to reduce power procurement costs in spite of a decrease in electrical energy sold caused by the im
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 3.9 billion yen compared with 2019/1Q, mainly due to a decrease in energy demand in Chubu region caused by the impact of COVID-19. （Billion yen） 100 10.0 A dec
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 decreased by 36.3 billion yen compared with 2019/1Q, mainly due to LNG related loss by a decrease in electrical energy sold in addition to a decrease in time lag income incurred
Slide 11: Electric Energy Output
Electric Energy Output < Power generation > (Chubu Electric Power) ■ Hydro Increased by 0.6TWh since the flow rate was higher than 2019/1Q. ■ Renewable energy Increased by 0.1TWh, mainly due to the commencement of operation of Yokkaichi Biomass Power Generation. (TWh,%) Change 2020/1Q 2019/1Q (A) (B
Slide 12: (Reference) Impact of Accrued Income (Result)
(Reference) Impact of Accrued Income (Result) ＜ 2019/1Q ＞ ＜ 2020/1Q ＞ Income Income 22.0 billion yen 5.0 billion yen Elements of income (time lag from fuel procurement) Elements of cost (fuel procurement) 9 C opyri g h t © C hubu E l ec t ri c P ower C o. , Inc . A l l ri ght s res erv e d .
Slide 13: Summary of Forecast for FY2020 <1>
Summary of Forecast for FY2020 <1> <Forecast> (Consolidated) The forecasts for the fiscal year ending March 31, 2021 were not determined so far, since it was difficult to reasonably estimate the impact of the COVID-19. We have just announced our business forecasts based on information and prediction
Slide 14: Summary of Forecast for FY2020 <2>
Summary of Forecast for FY2020 <2> 【Principal Figures】 <Electrical Energy Sold> (TWh,%) FY2020 FY2019 Change (Forecast) (A) (Result) (B) (A-B) (A-B)/B Electrical Energy Sold 106.3 117.2 (10.9) (9.4) Electrical Energy Sold 111.8 122.5 (10.7) (8.8) including group companies (*) * Electrical Energy Sol
Slide 15: (Reference) Impact of Accrued Income (Forecast)
(Reference) Impact of Accrued Income (Forecast) ＜ FY2019 ＞ ＜ FY2020 ＞ Income Income 39.0 billion yen 50.0 billion yen Elements of income (time lag from fuel procurement) Elements of cost (fuel procurement) 12 C opyri g h t © C hubu E l ec t ri c P ower C o. , Inc . A l l ri ght s res erv e d .
Slide 16: Reference Data: Financial Results
Ⅱ Reference Data : Financial Results C opyri g h t © C hubu E l ec t ri c P ower C o. , Inc . A l l ri ght s res erv e d .
Slide 17: Consolidated Statements of Income
Consolidated Statements of Income (Billion yen,%) 2020/1Q 2019/1Q Change (A) (B) (A-B) (A-B)/B Operating revenues 682.3 754.4 (72.1) (9.6) Share of profit of entities accounted for using equity 13.2 48.9 (35.7) (73.0) method Other 1.8 4.1 (2.2) (54.8) Non-operating revenues 15.1 53.0 (37.9) (71.5) O
Slide 18: Consolidated Financial Standing
Consolidated Financial Standing (Billion yen) Jun. 30, 2020 Mar. 31, 2020 Change <Major factors for change> (A) (B) (A-B) Assets 5,514.5 5,500.8 13.6 Increase in accounts receivable +33.8 Liabilities 3,540.4 3,538.7 1.7 Net assets 1,974.0 1,962.0 11.9 Shareholders' equity ratio (%) 34.5 34.4 0.1 Inc
Slide 19: Impact of the Feed-in-Tariff Scheme for Renewable Energy
Impact of the Feed-in-Tariff Scheme for Renewable Energy <Result of 2020/1Q > *change from the previous year in parenthesis Renewable energy Miraiz Electricity generator Power Grid customers Purchased cost (Purchased Surcharge under act on purchase of power from other suppliers) renewable energy sou
Slide 20: Reference Data: Management Information
Ⅲ Reference Data: Management Information C opyri g h t © C H U B U E l ec t ri c P ower C o. , I nc . A l l R i ght s R es erv ed .
Slide 21: Consolidated Ordinary Income (Loss) and Net Income (Loss)
Consolidated Ordinary Income (Loss) and Net Income (Loss) [Ordinary Income (Loss)] [Net Income (Loss)] (billion yen) (billion yen) 300.0 300.0 255.6 250.0 250.0 200.0 191.8 200.0 169.7 163.4 150.0 150.0 128.5 125.0 121.4 112.9 114.6 105.0 100.0 100.0 74.3 79.4 60.2 50.0 50.0 38.7 0.0 0.0 (50.0) (50.
Slide 22: Consolidated Cash Flow
Consolidated Cash Flow （billion yen） 800.0 Cash Flows from Operating Activities Cash Flows from Investing Activities FCF 600.0 562.4 476.8 424.1 400.0 approx. 335.0 310.0 296.4 254.4 255.8 227.6 203.7 194.0 200.0 176.8 79.6 0.0 (25.1) (70.2) (62.8) approx. (102.9) (71.9) (200.0) (30.0) (247.0) (266.
Slide 23: 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 3400.0 820.0 3,260.5 3,260.0 800.0 3200.0 700.0 2,965.8 2,981.1 3000.0 2,918.9 600.0 526.0 500.0 2800.0 FY2020 Funding 2,674.7 39
Slide 24: Consolidated Financial Ratio, Credit Ratings
Consolidated Financial Ratio, Credit Ratings (%) [Shareholders’ equity ratio] [Debt-Equity ratio] (Times) 40.0 2.5 approx. 2.3 35.0 2.2 35.0 34.4 2.1 2.0 31.1 31.3 1.8 1.7 29.7 1.6 1.6 30.0 28.9 1.5 1.5 1.5 approx. 26.8 1.3 26.1 24.7 25.0 24.2 1.0 20.0 0.5 （FY） 2011 2012 2013 2014 2015 2016 2017 201
Slide 25: Consolidated ROA and ROE
Consolidated ROA and ROE （%） [ROA] （%） [ROE] 6.0 16.0 5.3 14.0 5.0 12.0 11.1 4.0 3.7 10.0 8.9 3.0 2.8 8.0 2.7 7.0 approx. 2.4 approx. 6.0 2.0 6.0 2.0 1.9 4.5 4.4 4.0 2.7 1.0 2.0 0.0 0.0 (0.0 ) (2.0) (1.0) (0.6) (0.9) (2.2) (4.0) (2.0) (4.6) (6.0) (5.8) (3.0) (8.0) (FY) (FY) 2011 2012 2013 2014 2015
Slide 26: Sales Figures of Miraiz Group
Sales Figures of Miraiz Group 2020/1Q Target The number of entry; Approx. 2.16 million - New electric tariff menu As of June, 2020 Chubu region The number of sales; Acquire 100 thousand customers Approx. 38 thousand Services in a set with electric power or gas As of July 10, 2020 by FY2020 Increase
Slide 27: Monthly Breakdown of Electrical Energy Sold of Miraiz
Monthly Breakdown of Electrical Energy Sold of Miraiz (TWh) FY2020 Apr.- Apr. May June June Low voltage 2.9 2.6 2.0 7.5 High voltage・ Extra-high 6.0 5.4 6.1 17.5 voltage Total 9.0 8.0 8.1 25.1 (TWh) FY2019 Apr. May June July Aug. Sep. Oct. Nov. Dec. Jan. Feb. Mar. Total Low voltage 3.0 2.8 2.1 2.3 3
Slide 28: Structure of Power Generated and Procured
Structure of Power Generated and Procured [Structure of Power Generated and Procured] [Government’s Long-term Energy 100% Supply-demand Outlook] Nuclear 10% JEPX, Other*1 15% 20～ Nuclear 8% FIT Renewable Energy 80% 9% 3% Renewable Energy*2 22% Oil 6% Hydro*3 4% 1% Oil Renewable Energy Expansion 22～2
Slide 29: Overview of Renewable Energy Business
Overview of Renewable Energy Business (Reference) Chubu Electric Development locations of hydroelectric power station Chubu Electric Group Conventional hydro Akigami : 0.29MW(FY2016) operating 197 Site : 5,459MW Sakore : 0.38MW(FY2018) Generation with minimum water level Amazake : 0.53MW(FY2018) Par
Slide 30: Overview of Overseas Business <1>
Overview of Overseas Business ＜1＞ [Submarine power transmission business in Germany] [Submarine power transmission business in the UK] Overview of the business Overview of the business Operating and maintaining following four submarine Operating and maintaining the offshore electricity Project trans
Slide 31: Overview of Overseas Business <2>
Overview of Overseas Business ＜2＞ [Mitsubishi Corporation and Chubu Electric Power acquired Dutch Energy Company “Eneco”] Overview of the business Positioned as a platform in the European electric power business, and expand growth areas such as renewable energy, retail Purpose and new services in th
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 opyri g h t © C H U B U E l ec
C opyri g h t © C H U B U E l ec t ri c P ower C o. , I nc . A l l R i ght s R es erv ed .
Chubu Electric Power — Q1 FY2020 Earnings Presentation on 6ix