Uil Co. Ltd. · KRX:049520
Uil — Investor Presentation (September 2010)
9 slides from Uil's investor presentation, Sep 13, 2010
Slide 1: Pending Acquisition of SCG, CNG and Berkshire
Pending Acquisition of SCG, CNG and Berkshire Description Acquisition of three regulated gas LDCs owned by Iberdrola USA with approximately 366,000 customers(1) announced on May 25, 2010 Southern Connecticut Gas - 173,000 customers(1) Connecticut Natural Gas - 158,000 customers(1) Berkshire Gas Comp
Slide 2: Significant Near-Term Regulated Capital Investment Pipeline
Total Capex ($MM) 2011P - 2014P Distribution $541 Transmission 259 GenConn 63 UIL (Total) $863 Acquired Utilities (1) 248 Total $1,111 Significant Near-Term Regulated Capital Investment Pipeline ($MM) 2009A 2010P 2011P 2012P 2013P 2014P Distribution 95 147 187 129 111 114 Transmission 29 74 75 70 56
Slide 3: UI Transmission - Recent NEEWS Agreement
UI Transmission - Recent NEEWS Agreement On 7/14/10 entered into an agreement with Connecticut Light & Power ("CL&P," a subsidiary of Northeast Utilities) under which UI will have the right to invest in and own transmission assets associated with the CT portion of CL&P's NEEWS projects Total expecte
Slide 4: Attractive Rate Base Growth Even With a Declining CTA Balance
2009 2010P 2011P 2012P 2013P 2014P Distribution 492 518 608 763 866 915 Transmission 401 409 423 489 557 590 GenConn 162 128 92 54 15 Target 857.3558012 862.9645194 869.2578438 882.1170454 1055 1055 1980.355801 2168.964519 2307.257844 2387.117045 Near-Term Average Rate Base Profile (Excluding GenCon
Slide 5: UI Transmission Growth
UI Transmission Growth Renewable Requirement, Relative Locations Existing Renewables v. Region-wide RPS Governors' Blueprint, ISO-NE Study Significant Transmission build-out indicated Potential $7Bn - $10Bn range, could be higher or lower to satisfy a 4,000 - 12,000 MW need Cost to New England likel
Slide 6: Strong Liquidity Position and Manageable Near-Term Debt Maturities
Pro Forma Near-Term Debt Maturities (1) Standalone Liquidity Overview (6/30/10)* Strong Liquidity Position and Manageable Near-Term Debt Maturities *UIL Plans to Increase Size of Credit Facilities to Provide Adequate Liquidity for Larger Business Note: (1) 2010 amounts do not include $31.8MM used fo
Slide 7: Summary Pro Forma Financials
2009 2009 2009 6 Months Ended June 30, 2010 6 Months Ended June 30, 2010 6 Months Ended June 30, 2010 ($MM) UIL Target Pro Forma (1) UIL Target Pro Forma (1) Gross Margin $563 $323 $887 $298 $187 $486 Adjusted EBITDA (2) $220 $128 $348 $113 $92 $212 Adjusted Net Income (2) $54 $37 $79 $26 $34 $59 Av
Slide 8: Net Income to Adjusted EBITDA Reconciliation
Net Income to Adjusted EBITDA Reconciliation UIL Holdings UIL Holdings Target Target Pro Forma Pro Forma ($MM) FY 2009 Six Months Ended June 30, 2010 FY 2009 Six Months Ended June 30, 2010 FY 2009 Six Months EndedJune 30, 2010 Net Income (GAAP) $54 $26 $25 ($235) $67 ($211) Adjustments Interest Expe
Slide 9: Adjusted Net Income Reconciliation
Adjusted Net Income Reconciliation UIL Holdings UIL Holdings Target Target Pro Forma Pro Forma ($MM) FY 2009 Six Months Ended June 30, 2010 FY 2009 Six Months Ended June 30, 2010 FY 2009 Six Months EndedJune 30, 2010 Net Income (GAAP) $54 $26 $25 ($235) $67 ($211) One-Time Adjustments Goodwill Impai
UIL Holdings — Investor Presentation (September 2010) on 6ix