Tokyo Electric Power Company Holdings, Incorporated · TSE:9501
Tokyo Electric Power — FY2005 Earnings Presentation
20 slides from Tokyo Electric Power's earnings presentation, May 9, 2006
Slide 1: FY2005 Financial Results Presentation Materials
FY2005 Financial Results (April 1, 2005 – March 31, 2006) Presentation Materials May 9, 2006 Katsutoshi Chikudate Executive Vice President Tokyo Electric Power Company The Tokyo Electric Power Company, Inc. All Rights Reserved ©2006
Slide 2: Regarding Forward-Looking Statements (Performance Projections)
Regarding Forward-Looking Statements (Performance Projections) Certain statements in the following presentation regarding Tokyo Electric Power Company’s business operations may constitute “forward-looking statements.” As such, these statements are not historical facts but rather predictions about th
Slide 3: Table of Contents
Table of Contents 2 FY2005 Results Summary (Consolidated and Non-consolidated) 3 Comparison of Performance Projections and Actual Performance 4 Statement of Income (Consolidated) 5 Revenues Breakdown (Non-consolidated) 6 Expenses Breakdown (Non-consolidated) 7 Reference: Year-on-Year Comparison of O
Slide 4: FY2005 Results Summary (Consolidated and Non-consolidated)
FY2005 Results Summary (Consolidated and Non-consolidated) 3 (Upper and lower rows show consolidated and non-consolidated figures, respectively) (Unit: Billion yen) Comparison FY 2005(A) FY 2004(B) (A)-(B) (A)/(B) (%) 5,255.4 5,047.2 208.2 104.1 Operating revenues 4,941.0 4,823.2 117.8 102.4 4,679.2
Slide 5: Comparison of Performance Projections and Actual Performance
Comparison of Performance Projections and Actual Performance 4 Comparison of Performance Projections and Actual Performance (Upper and lower rows show consolidated and non-consolidated figures, respectively) (Unit: Billion yen) Operating revenues Operating income Ordinary income Net income 5,255.4 5
Slide 6: Statement of Income (Consolidated)
Statement of Income (Consolidated) 5 Statement of Income (Consolidated) (Unit: Billion yen) Comparison FY 2005(A) FY 2004(B) (A)-(B) (A)/(B) (%) Operating revenues 5,255.4 5,047.2 208.2 104.1 Operating income 576.2 566.3 9.9 101.8 Ordinary revenues 5,308.0 5,086.0 222.0 104.4 Ordinary expenses 4,881
Slide 7: Revenues Breakdown (Non-consolidated)
Revenues Breakdown (Non-consolidated) 6 Revenues Breakdown (Unit: Billion yen) Comparison FY 2005(A) FY 2004(B) (A)-(B) (A)/(B) (%) Ordinary revenues 4,978.7 4,851.7 126.9 102.6 Operating revenues 4,941.0 4,823.2 117.8 102.4 Electric power operating revenues 4,897.2 4,798.6 98.5 102.1 Increase in el
Slide 8: Expenses Breakdown (Non-consolidated)
Expenses Breakdown (Non-consolidated) 7 Expenses Breakdown (Unit: Billion yen) Comparison FY 2005(A) FY 2004(B) (A)-(B) (A)/(B) (%) Ordinary expenses 4,581.5 4,467.2 114.2 102.6 Operating expenses 4,404.3 4,287.7 116.5 102.7 Electric power operating expenses 4,325.0 4,231.8 93.1 102.2 Personnel 401.
Slide 9: Reference: Year-on-Year Comparison of Ordinary Expenses – 1
Reference: Year-on-Year Comparison of Ordinary Expenses – 1 (Non-consolidated) 8 Personnel expenses (¥454.4 billion to ¥401.0 billion) -¥53.4 billion Payroll and benefits -¥6.6 billion Retirement benefits -¥47.7 billion Decrease in amortization of actuarial difference (-¥11.1 billion to -¥59.0 billi
Slide 10: Reference: Year-on-Year Comparison of Ordinary Expenses – 2
Reference: Year-on-Year Comparison of Ordinary Expenses – 2 (Non-consolidated) 9 Maintenance expenses (¥472.7 billion to ¥469.3 billion) -¥3.3 billion Generation related (¥247.1 billion to ¥246.9 billion) -¥0.2 billion Hydroelectric power (¥15.5 billion to ¥13.3 billion) -¥2.1 billion T hermal power
Slide 11: Reference: Year-on-Year Comparison of Ordinary Expenses – 3
Reference: Year-on-Year Comparison of Ordinary Expenses – 3 (Non-consolidated) 10 Purchased power (¥600.8 billion to ¥629.3 billion) +¥28.4 billion Inter-company power purchases (¥193.5 billion to ¥216.4 billion) +¥22.9 billion Purchases of power from other companies (¥407.3 billion to 412.8 billion
Slide 12: Balance Sheets (Consolidated and Non-consolidated)
Balance Sheets (Consolidated and Non-consolidated) 11 Balance Sheets (Upper and lower rows show consolidated and non-consolidated figures, respectively) (Unit: Billion yen) Comparison FY 2005(A) FY 2004(B) (A)-(B) (A)/(B) (%) 13,594.1 13,748.8 -154.7 98.9 Adjustment* +¥655.5 billion Total assets 13,
Slide 13: Free Cash Flow and its Application (Consolidated and Non-consolidated)
Free Cash Flow and its Application (Consolidated and Non-consolidated) 12 Free Cash Flow (Upper and lower rows show consolidated and non-consolidated figures, respectively) (Unit: Billion yen) Comparison FY 2005(A) FY 2004(B) (A)-(B) (A)/(B) (%) Cash flow from operating 935.6 1,411.4 -475.8 66.3 act
Slide 14: Segment Information
Segment Information 13 Segment Information (Unit: Billion yen) Information and Telecommunications Comparison Fiber-Optics Network Company, Operating revenues (hereinafter called FY 2005(A) FY 2004(B) (A)-(B) (A)/(B) (%) FUSION COMMUNICATIONS CORP., R: 71.7(+31.0), I: 0.8(+0.0) Operating revenues 5,2
Slide 15: Information and Telecommunications Business
Information and Telecommunications Business 14 Fiber-Optics Network Company (Unit: Billion yen) Comparison FY2005 FY2004 (A)-(B) (A)/(B) (%) Operating revenues 20.3 10.1 10.1 200.3 Operating income -35.8 -30.6 -5.1 Capital expenditures 33.4 21.8 11.5 152.6 Number of subscribers approx. 280,000 appro
Slide 16: Energy and Environment Business
Energy and Environment Business 15 Gas Business Company (Unit: Billion yen) Comparison FY2005 FY2004 (A)-(B) (A)/(B) (%) Operating revenues 15.4 7.9 7.4 193.9 Operating income 1.1 0.6 0.4 196.2 Gas sales volume approx. 350,000 tons approx. 220,00 tons Performance, Etc. Operating revenues of the Gas
Slide 17: Performance Outlook for FY2006
Performance Outlook for FY2006 16 Performance Outlook (Upper and lower rows show consolidated and non-consolidated figures, respectively) (Unit: Billion yen) Operating revenues Operating income Ordinary income Net income 5,240.0 520.0 400.0 250.0 FY2006 Projection 4,970.0 475.0 350.0 225.0 5,255.4 5
Slide 18: Reference: Business Management Plan Targets and Performance
Reference: Business Management Plan Targets and Performance 17 (Reference) (Fiscal year) FY2005 Business FY2006 Business 2001 2002 2003 2004 2005 Management Plan Management Plan FY2005-07 Targets FY2006-08 Targets Profit and Free Cash Flow (FCF) Targets ROA 4.5 3.6 3.5 4.1 4.2 At least 4% At least 4
Slide 19: Reference: Key Factors Affecting Performance and Financial Impact
Reference: Key Factors Affecting Performance and Financial Impact 18 Key Factors Affecting Performance FY2005 FY2006 Actual Projected Foreign exchange rate (Interbank; yen per dollar) 113.32 approx.120 Crude oil prices (All Japan CIF; dollars per barrel) 55.80 approx.60 Nuclear power plant capacity
Slide 20: Reference: Electricity Sales Volume and Outlook for FY2006
Reference: Electricity Sales Volume and Outlook for FY2006 19 Electricity Sales Volume Electricity ElectricitySales SalesVolume VolumeTrends Trends (Units: Billion kWh, %) • Although sales volume in the first half of FY2005 trended downward due to a decrease in demand in reaction to last year’s hot
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