Uil Co. Ltd. · KRX:049520
Uil — Q1 2012 Earnings Presentation
16 slides from Uil's earnings presentation, May 3, 2012
Slide 1: 1Q 2012 Earnings Presentation
Exhibit 99.2 1Q 2012 Earnings Presentation May 4, 2012
Slide 2: Note to Investors
Note to Investors Certain statements contained herein, regarding matters that are not historical facts, are forward-looking statements (as defined in the Private Securities Litigation Reform Act of 1995). These include statements regarding management’s intentions, plans, beliefs, expectations or for
Slide 3: 1Q 2012 Earnings Highlights
1Q 2012 Earnings Highlights q Consolidated net income in 1Q ‘12 of $47.1M or $0.92 per diluted earnings per share - a decrease of $4.9M or $0.10 per diluted share for the same time period in 2011 due to lower net income at the gas companies § Net income from the gas companies declined $8.9M or $0.18
Slide 4: Gas Conversions
Gas Conversions q Converted 2,797 customers as of mid-April ’12 - 29% increase over the same period in ‘11 q 2012 goal is to convert approximately 10,200 customers to natural gas heat, a 50% increase over 2010 levels of 6,800 additions § Converted approximately 8,300 customers in 2011 - 22% above th
Slide 5: Gas Conversions - cont.
Gas Conversions - cont. q Consumer interest in converting remains strong § Financing options have been expanded to assist customers with up-front conversion costs § Natural gas supply prices are low and projected to remain low for the foreseeable future § Delivered natural gas price for heating cust
Slide 6: State Regulatory Update
State Regulatory Update Utility Company Storm Response UI Electric Distribution Rate Case q Investigation of Public Service Companies’ q Evaluating timing of distribution rate case to response to 2011 Storms (DN 11-09-09) reflect significant investments in distribution q Hearings for Electric - 4/23
Slide 7: State Legislative Update
State Legislative Update as of May 1, 2012 q CT legislative session ends May 9th § Various bills have moved through Energy & Technology Committee dealing with utility storm performance, system reliability and resiliency, renewable energy and expansion of gas infrastructure q Senate Bill (SB) 23 - An
Slide 8: Economic Update
Economic Update q State’s unemployment rate decreased for the eighth consecutive month - the lowest rate in three years (1) q Seasonally adjusted unemployment rates as of March 2012(2) § CT - 7.7% § MA - 6.5% § National - 8.2% q Unemployment rates in the largest service areas and cities as of March
Slide 9: 1Q 2012 Financial Results by Business
1Q 2012 Financial Results by Business Net Income ($M) 1Q ‘12 vs. 1Q ‘11 9
Slide 10: 1Q 2012 Financial Results - Details
1Q 2012 Financial Results - Details Electric distribution, CTA, GenConn & Other q 32% increase in 1Q ‘12 net income over the same period in 2011 § GenConn contributed pre-tax earnings of $4.5M to UIL for the 1Q ‘12 compared to $2.1M for the same period in 2011 - Middletown plant became fully operati
Slide 11: Debt Maturities, Liquidity & Credit Ratings
Debt Maturities, Liquidity & Credit Ratings Debt Maturities ($M) Credit Ratings Issuer S&P Moody’s UIL BBB Baa3 Holdings (Stable) (Stable) United BBB Baa2 Illuminating (Stable) (Stable) * BBB Baa2 SCG (Stable) (Stable) BBB Baa1 CNG (Stable) (Stable) BBB Baa2 Berkshire (Stable) (Stable) * Completed 2
Slide 12: Earnings Guidance
q Consolidated earnings guidance of $2.00-$2.15 per diluted share § Primarily due to warmer than normal weather during the winter heating season, which significantly impacted gas distribution earnings q Electric company earnings guidance of $1.50-$1.65 per diluted share § Increased the low end of th
Slide 13: Q&A
Q&A BIL UIL HOLDINGS CORPORATION
Slide 14: Appendix
Appendix BIL UIL HOLDINGS CORPORATION
Slide 15: Segmented 1Q '12 Earnings Information
Segmented 1Q ‘12 Earnings Information 15
Slide 16: 2011-2016 Average Rate Base
2011-2016 Average Rate Base Rate Base $M (Excluding GenConn Equity Investments): 2011-2016 $2,731 CAGR 6.9% $2,388 $2,535 $2,062 $2,235 Gas $1,956 1% Distribution: 2% 38% 40% 40% 3.6% 4% 43% 41% Electric 42% Transmission: 24% 22% 22% 22% 10.2% 21% 22% Electric 38% 36% 38% 38% Distribution: 33% 11.1%