NextEra Energy, Inc. · NYSE:NEE
NextEra Energy — Shareholder Meeting (May 2013)
25 slides from NextEra Energy's shareholder meeting presentation, May 23, 2013
Slide 1: NextEra Energy
NeExTera’ ENERGY @
Slide 2: Welcome Shareholders
Welcome Shareholders Jim Robo President and Chief Executive Officer May 23, 2013
Slide 3: Cautionary Statements And Risk Factors That May Affect Future Results
Cautionary Statements And Risk Factors That May Affect Future Results Any statements made herein about future operating and/or financial results and/or other future events are forward- looking statements under the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. These
Slide 4: Agenda
Agenda • Company overview • 2012 results • Looking forward 4
Slide 5: During Lew Hay's tenure as CEO, NextEra Energy significantly outperformed S&P 500 and S&P Utilities
During Lew Hay’s tenure as CEO, NextEra Energy significantly outperformed both the S&P 500 and the S&P Utilities Index 11-year Total Shareholder Return (June 12, 2001 – June 29, 2012) Total Shareholder Return (%) 300% NextEra 236.0% 250% 200% 150% S&P Utilities 100% 47.2% 50% S&P 500 34.5% 0% (50%)
Slide 6: FPL is one of the best utility franchises in the U.S.
FPL is one of the best utility franchises in the U.S. Florida Power & Light(1) • One of the largest U.S. electric utilities • Vertically integrated, retail rate-regulated • 4.6 MM customer accounts • 24,057 MW in operation • $10.1 B in operating revenues • $34.9 B in total assets 6 1) All data as of
Slide 7: NextEra Energy Resources is an industry-leading competitive wholesale generator
NextEra Energy Resources is an industry-leading competitive wholesale generator with a diverse portfolio of assets Clean Energy Industry Leader • Largest renewables developer in North America – $3.6 B backlog of renewables projects (2013-16 expected cap ex) – Robust pipeline of new renewables projec
Slide 8: The Lone Star CREZ project in Texas is the cornerstone of our transmission business
The Lone Star CREZ project in Texas is the cornerstone of our growing transmission business Lone Star Transmission • 330-mile, 345-kV line and five substations in Texas • Energized initial two substations Q4 2012 • Completed project in Q1 2013 • Total capital investment of approximately $760 MM • Au
Slide 9: Agenda
Agenda • Company overview • 2012 results • Looking forward 9
Slide 10: NextEra Energy had a terrific 2012
NextEra Energy had a terrific 2012 2012 Performance Summary Rank in top 10 largest U.S. utilities(1) • 2012 adjusted EPS growth #1 • 2012 industry comparable return on equity(2) #2 • 1-Year total shareholder return #2 • 3-Year total shareholder return #3 FPL’s rate case settlement was Energy Resourc
Slide 11: NextEra Energy 2012 Review – FPL
Each of our major businesses contributed to NextEra Energy’s successful performance in 2012 NextEra Energy 2012 Review – FPL • Earned an 11% regulatory ROE and grew net income by 16.1% vs. 2011 • The PSC approved a four-year settlement to FPL’s rate case that we believe is fair for both customers an
Slide 12: NextEra Energy 2012 Review – Energy Resources
Each of our major businesses contributed to NextEra Energy’s successful performance NextEra Energy 2012 Review – Energy Resources • Delivered adjusted earnings of $693 MM(1) and an adjusted ROE of 11.4% • Extension of the wind production tax credit – Expected to be effectively a two-year extension g
Slide 13: NextEra Energy 2012 Review – Overall Performance
Overall, 2012 was a year of strong performance for NextEra Energy NextEra Energy 2012 Review – Overall Performance • Achieved adjusted EPS(1) of $4.57 and grew adjusted EPS(1) by 4.1% vs. 2011 • Delivered total shareholder return of 17.9%, beating the S&P 500 Utilities Index (up 1.3%) and the S&P 50
Slide 14: Our 2012 performance extended our long-term record of delivering shareholder value
Our 2012 performance extended our long-term record of delivering shareholder value Adjusted Earnings Per Share(1) Total Shareholder Return(2) 20% 18% 50% 47% $4.57 16% $4.30 $4.39 40% $3.84 $4.05 15% 36% $3.49 28% $3.04 30% $2.41 $2.48 $2.49 $2.63 10% 20% 5% 1% 10% 0% 0% '02 '03 '04 '05 '06 '07 '08
Slide 15: Agenda
Agenda • Company overview • 2012 results • Looking forward 15
Slide 16: NextEra Energy: Long-Term Vision
Our long-term vision drives our strategy NextEra Energy: Long-Term Vision • Largest clean energy provider in the U.S. • FPL: the best utility in the U.S. – Customer value – Operations – Regulatory environment • Energy Resources: highly profitable competitive energy supplier – Largest renewable energ
Slide 17: NextEra Energy – Investment Proposition
We believe we are well-positioned for future growth NextEra Energy – Investment Proposition • Above-average and highly visible growth through 2016 – Four years of regulatory certainty at FPL – Strong backlog at Energy Resources with upside potential • Strong and increasing cash flow from operations
Slide 18: We continue to outperform our benchmarks for Total Shareholder Return in 2013
We continue to outperform our benchmarks for Total Shareholder Return in 2013 2013 YTD Total Shareholder Return(1) Source: FactSet Research Systems 18 1) YTD through May 17, 2013.
Slide 19: NEXT aS,
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Slide 20: Appendix
20 Appendix NeExTera’ ENERGY
Slide 21: Reconciliation of Adjusted Earnings to GAAP Net Income
Reconciliation of Adjusted Earnings to GAAP Net Income (Full Year Ended December 31, 2012) Florida Pow er Energy Corporate & (m illions, except per share am ounts) & Light Resources Other NextEra Energy, Inc. Net Income (Loss) $ 1,240 $ 687 $ (16) $ 1,911 Adjustments, net of income taxes: Net unreal
Slide 22: Reconciliation of Adjusted Earnings Per Share to Earnings Per Share
NextEra Energy, Inc. Reconciliation of Adjusted Earnings Per Share to Earnings Per Share 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 Earnings Per Share (assuming dilution) $1.38 $2.53 $2.48 $2.34 $3.23 $3.27 $4.07 $3.97 $4.74 $4.59 $4.56 Adjustments: Net unrealized mark-to-market (gains)
Slide 23: Cautionary Statements And Risk Factors That May Affect Future Results
Cautionary Statements And Risk Factors That May Affect Future Results This presentation contains “forward-looking statements” within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are not statements of historical facts, b
Slide 24: Cautionary Statements And Risk Factors (continued)
Cautionary Statements And Risk Factors That May Affect Future Results (continued) development agreements; risks involved in the operation and maintenance of electric generation, transmission and distribution facilities, gas infrastructure facilities and other facilities; effect on NextEra Energy of
Slide 25: Cautionary Statements And Risk Factors (continued)
Cautionary Statements And Risk Factors That May Affect Future Results (continued) fund its liquidity and capital needs and meet its growth objectives; inability to maintain current credit ratings; risk of impairment of liquidity from inability of creditors to fund their credit commitments or to main