Tokyo Gas Co., Ltd. · TSE:9531

Tokyo Gas — Q1 FY2021 Earnings Presentation

23 slides from Tokyo Gas's earnings presentation, Jul 28, 2021

  1. Slide 1: FY2021 1Q Financial Results

    TSE:9531 FY2021 1Q Financial Results ended June, 2021 July 28, 2021

  2. Slide 2: FY2021 Consolidated Financial Results

    01 FY2021 Consolidated Financial Results ended June, 2021 Copyright© TOKYO GAS Co., Ltd. All Rights Reserved.

  3. Slide 3: Highlights: Sales Down, Profit Down

    FY2021 Consolidated Results (Apr. 1, 2021 – June. 30, 2021) vs. FY2020 1Q 3 Highlights: Sales Down, Profit Down (+/- indicate impact on profit, billion yen) Net sales -7.4 Decrease in city gas unit price due to resource costs adjustment, etc. Operating +5.1 The Impact from the decline in crude oil p

  4. Slide 4: Consolidated Gas Sales Volume/ Number of Customers

    FY2021 Consolidated Gas Sales Volume/ Number of Customers City Gas sales volume: vs. FY2020 1Q Number of customers(City Gas), LNG sales 4 volume,Average temperature *Each value is rounded. FY2020 FY2020 189mil.㎥ (7.1%) （ Unit： mil. ㎥） 1Q 1Q Change including temperature effect 3,000 Number of custome

  5. Slide 5: Consolidated Electricity Sales Volume/ Number of Customers

    FY2021 Consolidated Electricity Sales Volume/ Number of Customers vs. FY2020 1Q 5 Electricity sales volume： New electricity retail customers won by Tokyo Gas Cumulative (1,000s) （ Unit：mil. kWh ） Quarter (1,000s) 2,788 6,000 300 2,717 3,000 5,858 2,629 +627mil. kWh 2,522 2,457 (+12.0%) 5,500 250 2,3

  6. Slide 6: 1Q Results: Sales and Operating Profit/Loss by Business Segments

    FY2021 1Q Results : Sales and Operating Profit/Loss by Business Segments vs. FY2020 1Q 6 (unit : billion yen) Segment Profit(Operating profit Net sales + Equity income/loss of subsidiary) FY2021 1Q FY2020 1Q FY2021 1Q FY2020 1Q Results Results Change ％ Results Results Change ％ Gas 273.2 284.9 -11.7

  7. Slide 7: FY2021 1Q Results: Ordinary Profit Analysis

    FY2020 1Q Results: Ordinary Profit Analysis vs. FY2020 1Q 7 City Gas -¥11.8bn ・ Decrease in gross margin -¥8.1bn: Change in volume, etc. -4.2 (incl. change due to temp Gas effect -3.8), sliding time lag effect -4.2, third-party access revenue +0.6, etc. -¥6.5bn (Net sales) -¥13.2bn: Change in volum

  8. Slide 8: FY2021 Full Year Forecast

    02 FY2021 Full Year Forecast Copyright© TOKYO GAS Co., Ltd. All Rights Reserved.

  9. Slide 9: Highlights: Sales UP, Profit UP (vs. Previous Forecast)

    FY2021 Consolidated Forecast (Apr. 1, 2021 – Mar. 31, 2022) 9 Highlights: Sales UP, Profit UP (vs. Previous Forecast) (+/- indicate impact on profit, billion yen) vs. Previous Forecast Net sales +136.0 Increase in city gas unit price due to resource costs adjustment, increase in city gas sales volum

  10. Slide 10: Full Year Forecast: Consolidated Gas Sales Volume/ Number of Customers

    FY2021 Full Year Forecast Consolidated Gas Sales Volume/ Number of Customers 10 City Gas sales volume: Number of customers(City Gas), LNG sales volume,Average temperature （ Unit： mil. ㎥） FY2020 VS. Previous Forecast Forecast Previous Forecast Change Results Change 15,000 +222mil.㎥ (+1.8%) Number of

  11. Slide 11: Full Year Forecast: Consolidated Electricity Sales Volume/ Number of Customers

    FY2021 Full Year Forecast Consolidated Electricity Sales Volume/ Number of Customers 11 Electricity sales volume： New electricity retail customers won by Tokyo Gas （ Unit：mil. kWh ） Cumulative (1,000s) VS. Previous Forecast 30,000 3,800 27,579 （As of Mar.2023 ） +939mil. kWh 26,640 4,000 (+3.5%) 25,0

  12. Slide 12: Full Year Forecast: Sales and Operating Profit/Loss by Business Segments vs. Previous Forecast

    FY2021 Full Year Forecast: Sales and Operating Profit/Loss by Business Segments vs. Previous Forecast 12 (unit : billion yen) Segment Profit(Operating profit Net sales + Equity income/loss of subsidiary) FY2021 Previous FY2021 Previous Forecast Forecast Change ％ Forecast Forecast Change ％ Gas 1,261.

  13. Slide 13: Forecast: Ordinary Profit Analysis vs. Previous Forecast

    FY2021 Forecast: Ordinary Profit Analysis vs. Previous Forecast 13 Gas  City Gas -¥4.3bn -¥2.6bn ・ Decrease in gross margin -¥2.1bn: Change in volume, etc. +3.4 (incl. change due to (-3.3%) temp effect -3.9), sliding time lag effect -5.5 (Net sales) +¥85.7bn: Change in volume, etc. +13.7, sliding t

  14. Slide 14: Full Year Forecast: Sales and Operating Profit/Loss by Business Segments vs. FY2020

    FY2021 Full Year Forecast: Sales and Operating Profit/Loss by Business Segments vs. FY2020 Results 14 (unit : billion yen) Segment Profit(Operating profit Net sales + Equity income/loss of subsidiary) FY2021 FY2020 FY2021 FY2020 Forecast Results Change ％ Forecast Results Change ％ Gas 1,261.5 1,146.7

  15. Slide 15: Forecast: Ordinary Profit Analysis vs. FY2020 Results

    FY2021 Forecast: Ordinary Profit Analysis vs. FY2020 Results 15  City Gas -¥25.0bn ・ Decrease in gross margin -¥18.3bn: Change in volume, etc. -7.9 (incl. change due Gas to temp effect +1.5), sliding time lag effect -10.4 (Net sales) +¥65.0bn: Change in volume, etc. -40.9, sliding time lag effect +

  16. Slide 16: Uses of Cash Flow (Capex, Investment and financing)

    FY2021 Uses of Cash Flow（Capex , Investment and financing） 16 (Unit: billion yen) Previous Change FY2020 Forecast Main Items % Change ％ Forecast Results Capital Expenditure Production facilities : 10.4 Other Production facilities, etc. Gas 134.0 Distribution facilities : 87.2 New demand development,

  17. Slide 17: Key Indicators (Consolidated)

    Key Indicators (Consolidated) 17 (Unit: billion yen) FY2021 FY2020 FY2019 Forecast Results Results Total assets (a) 2,895.0 2,738.3 2,539.9 Shareholders’ equity (b) 1,210.0 1,153.8 1,147.7 Shareholders’ equity ratio (b)/(a) 41.8％ 42.1％ 45.2％ Interest-bearing debt (c) 1,251.0 1,065.9 905.0 D/E ratio

  18. Slide 18: Reference Materials

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

  19. Slide 19: 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 19 Impact of rising JCC by $1/bbl (Unit: billion yen) Impact on earnings 2Q 3Q 4Q Full year 2Q -0.1 -0.8 +0.5 -0.4 3Q ― -0.1 -0.9 -1.0 Period 4Q ― ― -0.1 -0.1 Full year -0.1 -0.9 -0.5 -1.5 Impact of depreciation by ¥1/$ (Uni

  20. Slide 20: Crude oil price・Exchange rate

    Crude oil price・Exchange rate 20 Crude oil price（Japan Crude Cocktail Prices） ($/bbl) 80.00 70.00 60.00 50.00 40.00 30.00 20.00 FY2021 FY2020 FY2019 Exchange rate (¥/$) 115.0 110.0 105.0 100.0 FY2021 FY2020 FY2019 Copyright© TOKYO GAS Co., Ltd. All Rights Reserved.

  21. Slide 21: Key Topics in FY2021 (Excerpted from Press Releases)

    Key Topics in FY2021 (Excerpted from Press Releases up to 28th July.) ・Notice regarding Partial Changes to Articles of Incorporation (Apr. 28) 21 ・Notice regarding Spin-off (Absorption-type Company Split) (Apr. 28) Management ・Notice regarding Spin-off (Simplified Absorption-type Company Split（May 1

  22. Slide 22: Overseas Projects

    Overseas Projects 22 1 2 4 5 7 3 6 8 Area No Country Subject Main Business Participation year Barnett Upstream Shale gas 2013 Eagle Ford Upstream Shale gas 2016 TG Natural Resources Upstream Shale gas 2017 1 U.S.A TGES America Downstream Energy Service 2015 Birdsboro Power Plant Downstream Natural g

  23. Slide 23: 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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