Uil Co. Ltd. · KRX:049520
Uil — Q1 2015 Earnings Presentation
19 slides from Uil's earnings presentation, Apr 30, 2015
Slide 1: 1Q '15 Earnings Presentation
1Q ‘15 Earnings PresentationMay 1, 2015 Exhibit 99.2
Slide 2: Forward Looking Statements
Forward Looking Statements Certain statements contained in this communication 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, belie
Slide 3: Important Information For Investors & Shareholders
Important Information For Investors &Shareholders Important Information For Investors And ShareholdersThis communication does not constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote or approval. This communication may be deemed to be solici
Slide 4: 1Q '15 Earnings Summary
1Q ’15 consolidated net income was $57.6M, or $1.01 per diluted share, compared to $55.5M, or $0.97 per diluted share, in the 1Q ’14Consolidated earnings for 1Q ’15 and 1Q ‘14 reflect non-recurring after-tax items, as follows:Merger-related expenses associated with the pending merger of UIL and a su
Slide 5: Iberdrola USA/UIL Merger
BIL UIL HOLDINGS Iberdrola USA/UIL Merger
Slide 6: Summary Transaction Overview
Summary Transaction OverviewTotal Value to UIL Shareholders q Transaction represents total value of $50.97 – $54.53 per share, a 20.4% – 28.8% premium to the closing price on February 25, 2015 and 15.3% – 23.3% premium to the average closing price over the 30 calendar days preceding 2/25 (1) § $40.4
Slide 7: Regulatory Timeline - expect to close by year-end '15
State of Connecticut application – filed 3/25/15120 day statutory deadline with option to extend an additional 30 daysRegulatory time schedule establishedProposed final decision expected end of JuneFinal decision expected mid-JulyState of Massachusetts application – filed 3/25/15No statutory deadlin
Slide 8: UIL Holdings Stand-alone
BIL UIL HOLDINGS re. & \ ' UIL Holdings Stand-alone
Slide 9: $4.2B 10-yr Capital Expenditure Plan
$4.2B 10-yr Capital Expenditure Plan Amounts may not add due to rounding 2015P-2024P
Slide 10: Rate Base Growth
Rate Base Growth * Includes Distributed Energy Resources** Includes 338(h)(10) electionAmounts may not add due to rounding ‘15-’19 Rate Base CAGR 7.7% Gas Distribution:8.0%Electric Transmission:7.1%Electric Distribution*:7.7% $M
Slide 11: Gas Heating Customer Conversions
Successfully converted 16,266 households & businesses in ’14: Met our ’14 goal‘15 target is to convert at least 12,000 households & businessesConverted 2,002 households & businesses as of 3/31/15Natural gas is more cost effective than home heating oil and the benefits of natural gas remain advantage
Slide 12: Transmission ROE Proceeding
Transmission ROE Proceeding Challenge to Transmission Base ROE: “206” complaints filed at the FERC claiming that the then current approved base ROE of 11.14% on Transmission investments is not just and reasonable 10.57% base ROE10.57% base ROE 10/16/14 and forward (subject to 2 nd & 3 rd Complaints)
Slide 13: 1Q '15 Financial Results by Segment
1Q ‘15 Financial Results by Segment ~6% increase in Gas Distribution net income mainly from weather and customer growthOverall ~2% increase in net income, excluding non-recurring items
Slide 14: 1Q '15 Financial Results - Details
1Q ‘15 Financial Results - Details Electric Distribution1Q ’15 earnings of $11.3M, or $0.20 per diluted share, compared to earnings of $14.0M, or $0.25 per diluted share, in the 1Q ’14Decrease in earnings primarily due to –- Increased employee expenses, outside services and depreciation and amortiza
Slide 15: 1Q '15 Financial Results - Details: Gas Distribution
Gas Distribution1Q ’15 earnings of $41.2M, or $0.72 per diluted share, compared to earnings of $39.0M, or $0.68 per diluted share, in the 1Q ’14Increase in earnings primarily due to –-Colder weather and customer growthWeighted average heating degree days compared to normal & same period in ’14Impact
Slide 16: 1Q '15 Financial Results - Details: Gas Distribution cont.
1Q ‘15 Financial Results - Details Gas Distribution – cont.Preliminary 12-month avg. ROEs* as of 3/31/15: SCG 9.50-9.70%, CNG 8.67-8.87%Preliminary 12-month avg. weather normalized ROEs* as of 3/31/15: SCG 8.53-8.73%, CNG 8.67-8.87%Corporate1Q ‘15 & 1Q ‘14 include interim tax benefits recognized at
Slide 17: Updating 2015 Earnings Guidance
Updating 2015 Earnings Guidance
Slide 18: Guidance Assumptions – Business Segments
Guidance Assumptions – Business Segments Electric Distribution - revised to $0.80-$0.95 per diluted share, compared to the previously reported estimate of $0.85-$1.00 per diluted share The revision is primarily due to increased depreciation expense resulting from when the timing of UI distribution c
Slide 19: Questions
WIL UIL HOLDINGS Questions ras v