Commerce Energy Group Inc · OTC:CMNR
Commerce Energy — Q2 2007 Earnings Presentation
20 slides from Commerce Energy's earnings presentation, Mar 15, 2007
Slide 1: Second Quarter 2007 Earnings Conference
Second Quarter 2007 Earnings Conference March 15, 2007
Slide 2: Forward Looking Statements
This presentation contains forward-looking statements within the meaning of the federal securities laws. Forward-looking statements are based upon management's belief and assumptions made by, and information currently available to, management. Our actual results could differ materially from the resu
Slide 3: Opening Remarks
Opening Remarks Steven Boss, CEO
Slide 4: Q2 '07 Highlights
Strong 2nd Quarter Results Net income up $6.7M Gross profit up $10.8M Continued Customer Growth 164,000 customers as of January 31, 2007 200,000+ customers by year-end - estimated Annual Earnings Guidance Doubled $0.11 - $0.14 earnings per share Stronger than expected 2nd quarter No impact of APX Se
Slide 5: Customer Adds & Drops
customer adds & drops quarter & YTD Q2 & YTD adds above expectations Quarterly churn rate of 6%; excluding sales, divestitures and adjustments Q2 '07 YTD '07 9
Slide 6: Customer Growth Quarter-to-Quarter Comparison
customer growth quarter-to-quarter comparison 28% increase in customer count over Q2 '06 7,000 NG customers divested in Q2 '07 - AGL & KeySpan 11
Slide 7: 2007 Annual Earnings Guidance
2007 annual earnings guidance YTD 2007 2007 Estimate Customers: 164,000 208,000 EPS of $0.11 - $0.14 $0.01 $0.02 - $0.07 Q2 2007 Q1 2007 $0.09 $0.10 Current $0.11 - $0.14 13 1st half full year year-end customer count estimate Initial
Slide 8: Financial Review
Financial Review Lawrence Clayton, CFO
Slide 9: Net Income (Loss) Q2
Net Income (loss) Net Income ^ $2.5M Q2 ($ in millions) $(4.1)M $2.5M 9
Slide 10: Net Income (Loss) YTD
Net Income (loss) YTD ($ in millions) YTD Net Income ^ $2.9M $(3.9)M $2.9M 10
Slide 11: Net Revenues
Net Revenues ^ $20.0M 28% $72.7M $92.6M Q2 ($ in millions) $45.9M $26.8M $50.8M $41.8M Net Revenues 11 Electricity MWh 448K 6% Gas DTH 4,855K 132%
Slide 12: Gross Profit
Gross Profit ^ $10.8M 286% Q2 ($ in millions) $3.8M $14.5M $5.0M $4.1M Gross Profit $10.4M $(1.3)M 13 Electricity $10.4M 107% Gas $4.1M n/a
Slide 13: YTD Gross Profit
YTD ($ in millions) Gross Profit ^ $12.6M 105% $12.0M $24.6M $(0.1)M Gross Profit $12.1M $18.8M $5.8M 14 Electricity ^ $18.8M 55% Gas ^ $5.8M n/a
Slide 14: Gross Margin Origination & Backlog
Year End '06 YTD '07 07 Forecast data 7.5 6.6 25.2 6.1 ORIGINATION: Expected gross profit from new customer term contracts executed during the period. Fiscal Year '06 YTD '07 $7.5M $6.6 M $25.2M 25- 20- 15- 10- 5- Year End '06 10/31/2006 07 Forecast Data 7.4 13.4 19.3 HESCO Est 1.8 0.5 BACKLOG: Unre
Slide 15: Operating Expenses
Operating Expenses Sales & Marketing ^ $1.4M 112% $2.6M $1.2M Q2 ($ in millions) $9.6M $6.8M G & A ^ $2.8M 41% 31
Slide 16: Operating Expenses YTD
Operating Expenses YTD Sales & Marketing ^ $2.9M 152% YTD ($ in millions) $4.8M $1.9M YTD G & A ^ $3.0M 21% $17.5M $14.5M 33
Slide 17: Cash & Liquidity
01/31/07 07/31/06 Cash and cash equivalents. . . . . . . . . . . . . . $ 7,292 $ 22,941 Account Receivables. . . . . . . . . . . . . . . . . . . $ 52,369 $ 30,650 Working capital . . . . . . . . . . . . . . . . . . . . . . . $ 36,070 $ 32,253 Current ratio* . . . . . . . . . . . . . . . . . . . . .
Slide 18: W// Ma
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Slide 19: Quarterly Highlights
quarterly highlights Strong Financial Performance Market Share / Customer Growth Other Matters ACN Update APX Settlement 39 Increased Annual Earnings Guidance
Slide 20: V7 commerce
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Commerce Energy Group — Q2 2007 Earnings Presentation on 6ix