Osaka Gas Co., Ltd. · TSE:9532
Osaka Gas — FY2012.3 Earnings Presentation
27 slides from Osaka Gas's earnings presentation, April 2012
Slide 1: Financial Report for FY2012.3 (April 2011 – March 2012)
Financial Report for FY2012.3 (April 2011 – March 2012) April 2012 Osaka Gas Co., Ltd. 1
Slide 2: I. Business Results for FY2012.3 and Forecasts for FY2013.3
I. Business Results for FY2012.3 and Forecasts for FY2013.3 Management information is available on Osaka Gas websites. Financial reports, annual reports and road show materials can be accessed and downloaded at the following URL. http://www.osakagas.co.jp/ir/index_e.html Disclaimer Certain statement
Slide 3: Summary of Business Results for FY2012.3
Summary of Business Results for FY2012.3 Overview Consolidated Increased by 9.1% to ¥1,294.7 billion from the previous year supported operating by the increased gas sales price adjusted in response to the increase in LNG price and increased electric power sales. revenues Consolidated Decreased by
Slide 4: Gas Sales Volume Results for 2012.3
Gas Sales Volume Results for 2012.3 45MJ/m3 A. B. A-B A-B/B(%) FY12.3 FY11.3 Number of meters installed (thousand) 7,045 7,012 +33 +0.5% Installation of new meters (thousand) 81 79 +2 +2.0% Monthly gas sales volume per household 32.6 32.7 -0.1 -0.4% (m3/month) Residential use 2,271 2,275 -4 -0.2% Co
Slide 5: Results for FY2012.3 - I
Results for FY2012.3 - I Figures in ( ) are ratios of consolidated results to non-consolidated results (billion yen) A. FY12.3 B. FY11.3 A-B A-B/B(%) Remarks Operating revenues (1.25) 1,294.7 (1.29) 1,187.1 +107.6 +9.1% Rise in the price of gas sales, and increase in electric power sales, etc. Opera
Slide 6: Results for FY2012.3 - II
Results for FY2012.3 - II (billion yen) A. FY12.3 end B. FY11.3 end A-B Remarks Total assets 1,475.7 1,437.2 +38.4 Increase in current assets, etc. Net worth 684.5 664.9 +19.6 Interest-bearing debt 541.3 532.4 +8.8 Issuance of corporate bonds, etc. Number of employees 19,818 19,684 +134 Equity ratio
Slide 7: Business Plan for FY2013.3
Business Plan for FY2013.3 Activity Policy “Change & Challenge” Respond to changes that arose after the Great East Japan Earthquake and challenge the reforms. Priority Issues (1) More advanced safety and security for all customers Stable procurement of raw materials Strengthening and multi
Slide 8: Summary of Business Forecasts for FY2013.3
Summary of Business Forecasts for FY2013.3 Overview Consolidated Expected to increase by 5.3% from the previous year to ¥1,363 billion operating supported by an increase in the gas sales price, which will be adjusted in response to the increase in LNG price, and increase in LNG sales volume, reven
Slide 9: Gas Sales Volume Forecasts for FY2013.3
Gas Sales Volume Forecasts for FY2013.3 45MJ/m3 A. FY13.3 B. FY12.3 A-B A-B/B(%) forecasts results Number of meters installed (thousand) 7,078 7,045 +32 +0.5% Installation of new meters (thousand) 81 81 -0 -0.6% Monthly gas sales volume per household 32.0 32.6 -0.6 -1.9% (m3/month) Residential use 2
Slide 10: Forecasts for FY2013.3 - I
Forecasts for FY2013.3 - I Figures in ( ) are ratios of consolidated results to non-consolidated results (billion yen) A. FY13.3 B. FY12.3 A-B A-B/B (%) forecasts forecasts Operating revenues (1.25) 1,363.0 (1.25) 1,294.7 +68.2 +5.3% Operating profit (1.57) 90.0 (1.96) 77.2 +12.7 +16.5% Ordinary pro
Slide 11: Forecasts for FY2013.3 - II
Forecasts for FY2013.3 - II (billion yen) A. FY13.3 end forecasts B. FY12.3 end forecasts A-B Total assets 1,571.5 1,475.7 +95.7 Net worth 721.3 684.5 +36.7 Interest-bearing debt 584.0 541.3 +42.6 Number of employees 19,992 19,818 +174 Equity ratio 45.9% 46.4% -0.5 D/E ratio 0.80 0.79 +0.01 A. FY13.
Slide 12: Use of Free Cash Flow for FY2013.3
Use of Free Cash Flow for FY2013.3 FCF for FY 2013.3 is expected to be at the same level as previous year at ¥79.1 billion. Plans to make ¥120 billion investment for expansion, greenfield, and M&A. Domestic energy businesses Construction of major pipelines, etc. International energy businesses E
Slide 13: II. Facts and Figures
Il. Facts and Figures Design Your Energy J 8o3HBe 13 9 OSAKA GAS
Slide 14: Change in sales in 2012.3 from previous year
Change in sales in 2012.3 from previous year FY11.3 → FY12.3 (differences) Gas sales +94.7 1,187.1 1,294.7 (+107.6) ・Impact of fuel cost adjustment +81.5 ・Volume change, etc. +13.1 Osaka Gas: +114.6 Other revenues +19.9 ・Electric power sales +13.1 ・LNG sales +3.9 (billion yen) ・Gas appliances sales
Slide 15: Change in ordinary income in 2012.3 from previous year
Change in ordinary income in 2012.3 from previous year +/- signs indicate impact on profit. FY11.3 → FY12.3 (differences) Gross margin of gas sales -19.9 82.3 75.6 (-6.6) ・Profit/loss on fuel cost adjustment system -22.2 ・Volume change, etc. +2.3 Osaka Gas: -14.0 Increase in operating expenses -1.1
Slide 16: Results for FY2012.3 by Segments
Results for FY2012.3 by Segments (billion yen) Operating revenues Operating profit + Remarks equity method earnings FY12.3 FY11.3 FY12.3 FY11.3 Gas 976.5 879.8 20.9 41.9 Revenues: Rise in the price of gas sales Profit: Increase in loss on fuel cost adjustment system LPG, electricity, 198.0 174.7 32.
Slide 17: Results of Investments for expansion, greenfield, and M&A in FY2012.3
Results of Investments for expansion, greenfield, and M&A in FY2012.3 Cumulative amount approved for investment from FY2010.3 onwards are ¥266 billion (67% of the amount originally projected for the period between FY2010.3 and FY2014.3). Total investment in FY2012.3 were ¥64.2 billion. Cumulativ
Slide 18: Change in sales in 2013.3 from previous year
Change in sales in 2013.3 from previous year FY12.3 results→FY13.3 forecasts (differences) Gas sales +40.8 1,294.7 1,363.0 (+68.2) ・Impact of fuel cost adjustment +49.5 ・Volume change, etc. -8.6 Osaka Gas: +60.2 Other revenues +19.4 ・Incidental business sales +17.4 (LNG sales, etc.) ・Miscellaneous s
Slide 19: Change in ordinary income in 2013.3 from previous year
Change in ordinary income in 2013.3 from previous year +/- signs indicate impact on profit. FY12.3 results → FY13.3 forecasts (differences) 75.6 90.0 (+14.3) Gross margin of gas sales +14.3 ・Profit/loss on fuel cost adjustment system +27.6 ・Volume change, etc. -13.2 Osaka Gas: +21.8 Decrease in oper
Slide 20: Forecasts for FY2013.3 by Segments
Forecasts for FY2013.3 by Segments (billion yen) Operating revenues Operating profit + Remarks equity method earnings FY13.3 FY12.3 FY13.3 FY12.3 forecasts results forecasts results Gas 1,016.0 976.5 37.5 20.9 Revenues: Rise in the price of gas sales Profit: Decrease in loss on fuel cost adjustment
Slide 21: Medium-term Forecasts of Gas Sales Volume
Medium-term Forecasts of Gas Sales Volume Numbers in ( ) to the right of the graph show （45MJ, million m3） growth between FY2012.3 and FY2017.3. 10,000 9,000 Wholesale 476 480 482 (+0.1%) 480 474 475 8,000 7,000 Industrial 4,816 4,896 (+2.4%) 6,000 4,355 4,404 4,490 4,724 5,000 4,000 Public and medi
Slide 22: Medium-term Forecasts of Capital Expenditures
Medium-term Forecasts of Capital Expenditures (billion yen) 80 Incidental business facilities 68.0 70 64.7 6.1 Operational 58.6 3.4 60 facilities 53.1 53.9 5.0 2.4 2.4 50.1 50 2.4 40 53.9 54.7 40.7 30 47.5 42.0 41.8 Distribution 20 facilities 10 Production 10.6 5.7 7.8 6.3 8.5 facilities 5.6 0 FY12.
Slide 23: Residential Gas Sales
Residential Gas Sales FY2012.3 results YoY Remarks change Number of +0.2% customers Influence of +0.1% Average annual temperature: 16.9 degrees Celsius temperature (17.0 degrees Celsius in FY2011.3) Others -0.5% Total -0.2% FY2013.3 forecasts Residential gas sales volume is expected to decrease fr
Slide 24: Commercial Gas Sales
Commercial Gas Sales FY2012.3 results YoY Remarks change Demand +3.0% New contracts with public/medical institutions development Impact of change -0.8% Decreased demand for air-conditioning due to milder in number of summer compared with extreme heat last summer hot/cold days Others -5.2% Customer’s
Slide 25: Industrial Gas Sales
Industrial Gas Sales FY2012.3 results Breakdown by sectors （45MJ, million m3） YoY Remarks Volume Percen- Y-o-Y change tage to total sales Demand +1.9% New contracts volume development Machinery 374 8.6% 100.3% Increase/ +3.3% Increased operation Metal 1,088 25.0% 106.0% decrease of of customers’ fac
Slide 26: Monthly Gas Sales for FY2012.3
Monthly Gas Sales for FY2012.3 Change from the same month the previous year (%) Apr. May Jun. Jul. Aug. Sep. Oct. Nov. Dec. Jan. Feb. Mar. Total Residential 101.5 96.2 100.7 94.7 99.4 116.9 106.9 92.5 94.8 99.3 98.1 106.1 99.8 Commercial 102.4 94.8 103.7 97.4 91.7 90.4 92.7 90.7 97.7 99.5 98.9 108.3
Slide 27: Risk Factors for Annual Earnings Results Forecast
Risk Factors for Annual Earnings Results Forecast Atmospheric and water temperatures A 1 degree Celsius change in atmospheric and water temperatures will affect the residential gas sales volume: increase/decrease of approx. 5% in spring and autumn, approx. 6% in summer, and approx. 4% in winter.