Chubu Electric Power Company,incorporated · TSE:9502
Chubu Electric Power Company,incorporated — FY2006 Earnings Presentation
25 slides from Chubu Electric Power Company,incorporated's earnings presentation, January 2007
Slide 1: pape
GB pape Fx 2 O5F3 A HA FE RAMZ pees set ———E lll —s—‘—sSSCis
Slide 2: Contents
Ⴘẅẅഏ 19࠰ࡇൿም ▚ⷐ 䊶䊶䊶䊶䊶䊶䊶䊶䊶䊶 1 ⽼ᄁ㔚ജ㊂ 䊶䊶䊶䊶䊶䊶䊶䊶䊶䊶 2 ⊒ฃ㔚㔚ജ㊂ 䊶䊶䊶䊶䊶䊶䊶䊶䊶䊶 3 ᡰᲧセ㽲 䊶䊶䊶䊶䊶䊶䊶䊶䊶䊶 4 ᡰᲧセ㽳 䊶䊶䊶䊶䊶䊶䊶䊶䊶䊶 5 ᡰᲧセ㽴 䊶䊶䊶䊶䊶䊶䊶䊶䊶䊶 6 ㅪ⚿ᡰᲧセ 䊶䊶䊶䊶䊶䊶䊶䊶䊶䊶 7 䉶䉫䊜䊮䊃ᖱႎ 䊶䊶䊶䊶䊶䊶䊶䊶䊶䊶 8 ㅪ⚿⽷⁁ᘒ䈱ⷐ 䊶䊶䊶䊶䊶䊶䊶䊶䊶䊶 9 ㅪ⚿䉨䊞䉾䉲䊠䊶䊐䊨䊷Ყセ 䊶䊶䊶䊶䊶䊶䊶䊶䊶䊶 10 20࠰ࡇᙸᡫẲ ਥⷐ⻉ర 䊶䊶䊶䊶䊶䊶䊶䊶䊶䊶 11 ᬺ❣ㅢ䈚䈱ⷐ 䊶䊶䊶䊶䊶䊶䊶䊶䊶䊶 12 ᬺ❣ㅢ䈚 䊶䊶䊶䊶䊶䊶䊶䊶䊶䊶 13
Slide 3: pape
GB pape -FM20SAR ERE
Slide 4: Summary of results
ൿምಒᙲ 䂹ㅪ⚿䋺18ᐕᐲ䈮⛯䈐䇭2ᐕㅪ⛯䈱Ⴧᷫ⋉ (ం䋬䋦) 19ᐕᐲ 18ᐕᐲ Ⴧᷫ (A) (B) (A-B) (A-B)/B 㩷㩷㩷ᄁ㜞 24,328 22,137 2,190 9.9 㩷㩷㩷༡ᬺ⋉ 1,678 2,467 䂦 788 䂦 32.0 㩷㩷㩷⚻Ᏹ⋉ 1,233 1,786 䂦 552 䂦 30.9 㩷㩷㩷ᒰᦼ⚐⋉ 706 905 䂦 199 䂦 22.0 (ంᧂḩಾ䉍ᝥ䈩) 䂹䋺18ᐕᐲ䈮⛯䈐䇭2ᐕㅪ⛯䈱Ⴧᷫ⋉ (ం䋬䋦) 19ᐕᐲ 18ᐕᐲ Ⴧᷫ (A) (B) (A-B) (A-B)/B 㩷㩷㩷ᄁ㜞 22,221 21,170 1,051 5.
Slide 5: Electricity sales volume
ᝤ٥ᩓщ 䋨ంkWh䋬%䋩 19ᐕᐲ 18ᐕᐲ Ⴧᷫ (A) (B) (A-B) (A-B)/B 㩷㩷㩷ⷙኻ⽎ 䇭㔚 Ἦ 361 347 14 3.9 㩷㩷㩷䇭㔛䇭ⷐ 䇭㔚 ജ 73 74 䂦1 䂦 0.8 䇭䇭⸘ 434 421 13 3.1 㩷㩷㩷⥄↱ൻኻ⽎ 䇭ᬺ ോ ↪ 237 229 8 3.4 㩷㩷㩷㩷㩷㔛䇭ⷐ 䇭↥ᬺ↪ઁ 704 677 27 4.0 䇭䇭⸘ 941 906 35 3.8 ว䇭䇭⸘ 1,375 1,327 48 3.6 <2>
Slide 6: Power generation and receipts
ႆӖᩓᩓщ 䂹᳓ജ⊒㔚㊂ 䇭䇭䇭ᷢ᳓䋨᳓₸ ᒰᦼ䋺88.6%䇮೨ᦼ䋺95.7%䋩䈮䉋䉍䇮೨ᦼᲧ5ంkWhᷫ 䂹ේሶജ⊒㔚㊂ 䇭䇭䇭ᵿጟේሶജ⊒㔚ᚲ5ภᯏ䈱ᱛᣣᢙ䈏ᷫዋ䈚䈢䈖䈫䈭䈬䈎䉌䇮 䇭䇭䇭೨ᦼᲧ70ంkWhჇ 䂹Ἣജ⊒㔚㊂ 䇭䇭䇭䈖䉏䉌䈮ട䈋䇮Ⲣㅢฃ㔚㊂䈱ᷫዋ䉅䈅䉍䇮೨ᦼᲧ32ంkWhჇ 䋨ంkWh,%䋩 19ᐕᐲ 18ᐕᐲ Ⴧᷫ (A) (B) (A-B) (A-B)/B ᳓ ജ 81 86 䂦5 䂦 5.7 ⥄ 䋨 ᳓ ₸ 䋩 (88.6) (95.7) (䂦 7.1) Ἣ ജ 1,038 1,006 32 3.2 ␠ ේ ሶ ജ 252 182 70 38.7 䋨⸳↪₸
Slide 7: Non-consolidated income comparison: revenues
̾Кӓૅൔ᠋ᘙẅṞ 䋨ం,% 䋩 19ᐕᐲ 18ᐕᐲ Ⴧᷫ (A) (B) (A-B) (A-B)/B ⽼ᄁ㔚ജ㊂䈱Ⴧ +738 㩷䇭㔚Ἦ㔚ജᢱ 21,451 20,445 1,006 4.9 නଔ䈱Ⴧ +268 㩷䇭⽼ᄁ㔚ജᢱ Ꮺ㑆⽼ᄁ㔚ജᢱ +50 267 194 73 37.8 䇭䇭䇭⸤ㅍ⋉╬ 㩷䇭䈠䈱ઁ⋉ 215 224 䂦 8 䂦 3.9 㔚᳇ᬺ༡ᬺ⋉ 21,934 20,863 1,070 5.1 㒝Ꮺᬺ༡ᬺ⋉ 287 306 䂦 19 䂦 6.3 䉧䉴ଏ⛎ᬺ 䂦25 ༡ᬺ⋉⸘ 22,221 21,170 1,051 5.0 (ᄁ㜞) 䋨ᵈ䋩ంᧂḩಾ䉍ᝥ
Slide 8: Non-consolidated income comparison: expenses
̾Кӓૅൔ᠋ᘙẅṟ 䋨ం,䋦 䋩 19ᐕᐲ 18ᐕᐲ Ⴧᷫ (A) (B) (A-B) (A-B)/B ㅌ⡯⛎ਈ㊄ +179 㩷㩷ੱઙ⾌ 1,548 1,378 169 12.3 ἫജΆᢱ⾌ +1,636 䋨ᶖ⾌ᢙ㊂䈱Ⴧ +219) 㩷㩷Άᢱ⾌ 8,282 6,621 1,660 25.1 䋨ᶖ⾌නଔ䈱Ⴧ +1,417䋩 㩷㩷ේሶജ䍨䍼䍍䍖䍒䍻䍢䍼⾌↪ 561 512 49 9.6 Ꮺ㑆⾼ 䂦169 㩷㩷⾼㔚ജᢱ ઁ␠⾼ +55 1,740 1,860 䂦 120 䂦 6.5 䇭䇭⸤ㅍᢱ╬ Ἣജ +101䇮ේሶജ 䂦89䇮 㩷㩷ୃ❲⾌ 1,891 1,840 50 2.7 ᄌ㔚 +2
Slide 9: Non-consolidated income comparison: ordinary income and net income
̾Кӓૅൔ᠋ᘙẅṠ 䋨ం,䋦 䋩 19ᐕᐲ 18ᐕᐲ Ⴧᷫ (A) (B) (A-B) (A-B)/B ༡ᬺ⋉ 1,546 2,323 䂦 776 䂦 33.4 ༡ᬺᄖ⋉ 122 100 21 21.5 㩷㩷ᡰᛄᕷ 530 701 䂦 170 䂦 24.4 ➅ᷣᓇ㗀㗵 䂦137 ୫ᷫ 䂦29 㩷㩷䈠䈱ઁ⾌↪ 45 95 䂦 50 䂦 52.5 ༡ᬺᄖ⾌↪ 575 796 䂦 221 䂦 27.7 ⚻Ᏹ⋉ 1,093 1,627 䂦 534 䂦 32.8 ᷢ᳓Ḱ㊄ 䂦 40 䂦 26 䂦 13 50.6 ㆊᐕᐲේሶജ⊒㔚ᣉ⸳ ․៊ᄬ 136 408 䂦 271 䂦 66.5
Slide 10: Consolidated income statement
ᡲኽӓૅൔ᠋ᘙ (ం䋬%) 19ᐕᐲ 18ᐕᐲ Ⴧᷫ (A) (B) (A-B) (A-B)/B 㔚 ༡ᬺ⋉䋨ᄁ㜞䋩 21,873 20,804 1,069 5.1 ᳇ ༡ᬺ⾌↪ 20,248 18,463 1,784 9.7 ᬺ ༡ᬺ⋉ 1,625 2,340 䂦 715 䂦 30.6 ߘ ༡ᬺ⋉䋨ᄁ㜞䋩 2,454 1,333 1,121 84.1 ߩ ઁ ༡ᬺ⾌↪ 2,401 1,207 1,194 99.0 ᬺ ༡ᬺ⋉ 53 126 䂦 73 䂦 57.9 ༡ᬺ⋉䋨ᄁ㜞䋩 24,328 22,137 2,190 9.9 ว ⸘ ༡ᬺ⾌↪ 22,650 19,6
Slide 11: Segment information
ἍἂἳὅἚऴإ 䋨ం䋩 19ᐕᐲ 18ᐕᐲ Ⴧ䇭ᷫ ਥ䈭Ⴧᷫ⺑ 䋨ᄖㇱᄁ㜞䋩 䋨A) 䋨B) 䋨A-B) ᄖㇱᄁ㜞 21,873 20,804 1,069 㔚᳇ᬺ ༡ᬺ⋉ 1,560 2,249 䂦 689 ᄖㇱᄁ㜞 347 349 䂦 1 䊶ಽᢔဳ䉣䊈䊦䉩䊷ᬺ䈱 㨾㩒㩣㩁㩨㨺ᬺ 㩷㩷ᄁჇ ༡ᬺ⋉䇭 䂦 24 82 䂦 106 䊶䉧䉴ᬺ䈱ᄁᷫ ᄖㇱᄁ㜞 327 280 46 ᖱႎㅢାᬺ 䊶FTTH䉰䊷䊎䉴䉣䊥䉝ᄢ ༡ᬺ⋉ 䂦 64 12 䂦 77 ᄖㇱᄁ㜞 1,469 347 1,121 䊶ᩣᑼળ␠䊃䊷䉣䊈䉾䉪䈱 ᑪ⸳ᬺ 䇭ㅪ⚿ሶળ␠ൻ ༡ᬺ⋉ 138
Slide 12: Consolidated balance sheet summary
ᡲኽᝠཞ७ỉಒᙲ (ం) 20ᐕ3ᦼᧃ 19ᐕ3ᦼᧃ Ⴧᷫ (A) (B) (A-B) ఘළㅴⴕ䈮䉋䉎ᷫ ✚⾗↥ 56,362 57,017 䂦 654 ⽶䇭ௌ 38,837 39,318 䂦 480 ⚐⾗↥ 17,524 17,698 䂦 173 (ం,%) 30.4 30.3 0.1 ⥄Ꮖ⾗ᧄᲧ₸ (29.8) (29.9) (䂦 0.1) 28,626 30,017 䂦 1,391 ሶ⽶ௌᱷ㜞 (27,899) (29,250) (䂦1,351) ᦼᧃ㊄ (1.77) (1.73) (0.04) 䋨ᵈ䋩䋨䇭䋩ౝ䈲䇮ంᧂḩಾ䉍ᝥ䈩 <9>
Slide 13: Consolidated cash flow summary
ᡲኽỿἵἕἉἷὉἧἿὊൔ᠋ᘙ 䋨ం䋩 19ᐕᐲ 18ᐕᐲ Ⴧᷫ (A) (B) (A-B) ༡ᬺᵴേ䈮䉋䉎 4,719 4,415 304 䇭䍕䍊䍍䍚䍋䍃䍪䍹䍎䇭䇭㽲 ᛩ⾗ᵴേ䈮䉋䉎 䂦 2,727 䂦 1,743 䂦 983 䇭䍕䍊䍍䍚䍋䍃䍪䍹䍎䇭䇭㽳 ⽷ോᵴേ䈮䉋䉎 䂦 1,999 䂦 2,344 345 䇭䍕䍊䍍䍚䍋䍃䍪䍹䍎 䍪䍶䍎䍃䍕䍊䍍䍚䍋䍪䍹䍎 1,992 2,671 䂦 679 䇭䇭䇭䇭䇭䇭䇭䇭㽲䋫㽳 20ᐕ3ᦼᧃ 19ᐕ3ᦼᧃ Ⴧᷫ (A) (B) (A-B) ㊄䈶㊄ห╬‛䈱 971 978 䂦7 ᦼᧃ䋨ᦼᧃ䋩ᱷ㜞 䋨ᵈ䋩ంᧂḩಾ䉍ᝥ䈩 <10>
Slide 14: chapeN
GG chapeN
Slide 15: Outlook for next fiscal year: electricity sales
ɼᙲᜂΨ [㔚᳇ᬺ䈮䈍䈔䉎⽼ᄁ䈱⁁ᴫ] (ంkWh) 20ᐕᐲ੍ᗐ 19ᐕᐲታ❣ Ⴧ䇭ᷫ (A) (B) (A-B) ⷙኻ⽎ 㔚Ἦ 359 361 䂦2 㔛䇭ⷐ 㔚ജ 70 73 䂦3 ⸘ 429 434 䂦5 ⥄↱ൻኻ⽎ ᬺോ↪ 231 237 䂦6 䇭㔛䇭ⷐ ↥ᬺ↪ઁ 714 704 10 ⸘ 945 941 4 ว䇭䇭⸘ 1,374 1,375 䂦1 䋨ኻ೨ᐕჇട₸䋩 (䂦0.1%) (3.6%) [䈠䈱ઁ䈱ਥⷐ⻉ర] 20ᐕᐲ੍ᗐ 19ᐕᐲታ❣ Ⴧ䇭ᷫ 䇭䇭㗄䇭䇭⋡ (A) (B) (A-B) ේᴤ䌃䌉䌆ଔᩰ䇭($/b) 95⒟ᐲ 78.7 16⒟ᐲ ὑᦧ䊧䊷䊃(䍐䍻䍞䍎䍨䍼䍻䍖)
Slide 16: Earnings forecast
ಅጚᙸᡫẲỉಒᙲ 䂹ㅪ⚿䋺18ᐕᐲએ㒠䇮3ᐕㅪ⛯Ⴧᷫ⋉ 20ᐕᐲ੍ᗐ 19ᐕᐲታ❣ Ⴧᷫ (A) (B) (A)-(B) ᄁ㜞 25,500 24,328 1,170⒟ᐲ ༡ᬺ⋉ 1,480 1,678 䂦200⒟ᐲ ⚻Ᏹ⋉ 1,100 1,233 䂦130⒟ᐲ ᒰᦼ⚐⋉ 700 706 䂦10⒟ᐲ 䂹䋺18ᐕᐲએ㒠䇮3ᐕㅪ⛯Ⴧᷫ⋉ 20ᐕᐲ੍ᗐ 19ᐕᐲታ❣ Ⴧᷫ (A) (B) (A)-(B) ᄁ㜞 23,700 22,221 1,480⒟ᐲ ༡ᬺ⋉ 1,300 1,546 䂦250⒟ᐲ ⚻Ᏹ⋉ 900 1,093 䂦190⒟ᐲ ᒰᦼ⚐⋉ 580 662 䂦80⒟ᐲ
Slide 17: Forecast income factors
̾КಅጚᙸᡫẲ 䋨ం䋩 20ᐕᐲ 19ᐕᐲ Ⴧᷫ ੍ᗐ ታ❣ 䋨A䋩 (B) (A)-(B) ᄁ㜞 23,700 22,221 1,479 නଔ䈱Ⴧ +1,460 䋨༡ᬺ⋉䋩 ੱઙ⾌䈱Ⴧ +352 ༡ᬺ⾌↪ 22,400 20,674 1,726 䇭䋨ౝ䇮ᢙℂ⸘▚䈱Ꮕ⇣ +301) Άᢱଔᩰ䈱 +1,560 -⍹㒰CIFଔᩰ +1,650 ༡ᬺ⋉ 1,300 1,546 䂦 246 -⍹CIFଔᩰ +590 -㜞 䂦540 -ᶖ⾌᭴ᚑᏅ 䂦140 ༡ᬺᄖ⋉ 180 122 58 ේሶജ⊒㔚㊂䈱Ⴧ 䂦110 ᳓ജ⊒㔚㊂䈱Ⴧ 䂦100 ༡ᬺᄖ⾌↪ 580 575
Slide 18: Dividends
ᣐ࢘Ệếẟềί̾Кὸ 1ᩣᒰ䈢䉍㈩ᒰ㊄ ㈩ᒰ㊄✚㗵 ㈩ᒰᕈะ 䋨ం䋩 䋨䋩 ਛ㑆ᦼᧃ ᦼᧃ ᐕ㑆 18ᐕ3ᦼ 30 30 60 455 39.6% 19ᐕ3ᦼ 30 30 60 469 73.2% 20ᐕ3ᦼ 30 30 60 467 70.7% 21ᐕ3ᦼ 30 30 60 䊷 80.5% 䋨੍ᗐ䋩 <14>
Slide 19: Sensitivity of main factors
ɼᙲᜂΨỉ٭ѣࢨ᪪᫇ 䋨ం䋩 ᄌേ 20ᐕᐲ 19ᐕᐲ ⽼ᄁ㔚ജ㊂ 1% 30 40 ේᴤCIFଔᩰ䋨ᵈ㪈䋩 1$/b 72 81 ὑᦧ䊧䊷䊃 1/$ 70 66 ේሶജ↪₸䋨ᵈ㪉䋩 1% 38 32 ᳓₸ 1% 10 9 ㊄ 1% 45 45 䋨ᵈ䋱䋩ේᴤCIFଔᩰᓇ㗀㗵 䇭LNGଔᩰ䈲ේᴤଔᩰ䈱ᓇ㗀䉕ฃ䈔䉎䈖䈫䈎䉌䇮ᓇ㗀ᐲว䈇䉕⠨ᘦ䈚䈩▚ቯ䈚䈩䈇䉁䈜䇯 䋨ᵈ䋲䋩ේሶജ↪₸ᓇ㗀㗵 䇭ේሶജ⊒㔚නଔ䈍䉋䈶Ἣജ⊒㔚ᐔဋනଔ䉕ၮ䈮ᓇ㗀㗵䉕▚ቯ䈚䈩䈇䉁䈜䇯 <15>
Slide 20: chapeN
GG chapeN
Slide 21: Actuarial differences treatment
ᡚᎰዅɨ 䋨ᢙℂ⸘▚䈱Ꮕ⇣䈶ㆊൕോௌോ䈱⾌↪ಣℂ䋩 䋨ం䋩 ⊒↢ᐕᐲ ⊒↢㗵 ⾌↪ಣℂ㗵 Ⴧᷫ 18ᐕᐲ(A) 19ᐕᐲ(B) 20ᐕᐲ(C) (B)䋭(A) (C)䋭(B) ᢙℂ⸘▚䈱Ꮕ⇣䈱⾌↪ಣℂ 15ᐕᐲ 䂦 101 䂦 34 34 --- 16ᐕᐲ 䂦 265 䂦 88 䂦 88 0 88 17ᐕᐲ 䂦 747 䂦 249 䂦 249 䂦 249 0 0 18ᐕᐲ 67 22 22 22 0 19ᐕᐲ 638 213 --- 213 ዊ⸘(D) 䂦 371 䂦 315 䂦 14 56 301 ㆊൕോௌോ䈱⾌↪ಣℂ 16ᐕᐲ(E) 䂦 411 䂦 137 137 --- ว
Slide 22: Effect of depreciation system change
ถ̖ΝҲСࡇ٭ỉࢨ᪪ ᲢСࡇƴݣƢǔถ̖ΝҲᝲفьЎᲣ *࠰ࡇ 䋨ం䋩 ㅪ⚿ H19ᐕ331ᣣએ೨䈮ขᓧ䈚䈢ᒻ࿕ቯ⾗↥䈱䈉䈤䇮 ఘළน⢻㒢ᐲ㗵䉁䈪ఘළ䈏㆐䈚䈢⾗↥ಽ 184 169 H19ᐕ41ᣣએ㒠䈮ขᓧ䈚䈢ᷫଔఘළ⾗↥ಽ 14 12 ว䇭⸘ 198 181 <17>
Slide 23: Spread of all-electric housing in service area
ỺἼỴϋỆấẬỦᩓ҄˰ܡỉ୍ӏཞඞ 䇼⋡ᮡ䇽䇭䌈䋲䋲ᐕᐲᧃ䉁䈪䈮⚥⸘䋶䋰ਁᚭ⓭⎕䇭 ၞౝ䈮䈍䈔䉎䉥䊷䊦㔚ൻቛ䈱᥉⁁ᴫ䋨ណ↪ᚭᢙ⚥⸘䋩 䋨ජᚭ䋩 500 400 384 313 300 250 195 200 160 137 109 120 100 0 H12 H13 H14 H15 H16 H17 H18 H19ᧃ <18>
Slide 24: Shift of demand and in-house generation
ᩔᙲᩉᏮὉᐯܼႆਰụẲᩔᙲỉѣӼ ♽⛔㔚ജ䈎䉌䈱㔛ⷐ㔌⣕ផ⒖ ⥄ኅ⊒㔚䈎䉌䈱ಾ䉍ᦧ䈋ផ⒖ 300 500 ⚥⸘ኈ㊂(MW) ⚥⸘ઙᢙ䋨ญ䋩 ⚥⸘ኈ㊂(MW) 250 400 200 300 150 242 251 200 383 100 349 164 138 100 50 104 138 79 0 0 H17 ᧃ H18 ᧃ H19 ᧃ H17 ᧃ H18 ᧃ H20.2 ᧃ <19>
Slide 25: Cautionary note on handling this material
ᒰ⾗ᢱขᛒ䈱䈗ᵈᗧ ᒰ⾗ᢱ䈮⸥タ䈱ᬺ❣ㅢ䈚䇮䈭䉌䈶䈮᧪੍᷹䈲䇮ᚻน⢻䈭ᖱႎ䈮ၮ䈨䈐䇮⸘↹䈱䉅䈫 䈮䈭䉎೨ឭ䇮੍ᗐ䉕䉖䈣ౝኈ䉕⸥タ䈚䈩䈍䉍䉁䈜䇯 ታ㓙䈱ᬺ❣䈲䇮ᓟ䈱ᬺ㗔ၞ䉕ข䉍䉁䈒⚻ᷣ⁁ᴫ䇮Ꮢ႐䈱േะ╬䈮䉋䉍䇮䈖䉏䉌䈱ᬺ❣ㅢ䈚 䈫䈲⇣䈭䉎႐ว䈏䈗䈙䈇䉁䈜䈱䈪䇮䈗ᛚ⍮䈍䈐䈇䈢䈣䈐䉁䈜䉋䈉䈍㗿䈇↳䈚䈕䉁䈜䇯 䉁䈢䇮ᒰ⾗ᢱ䈱ౝኈ䈮䈧䈐䉁䈚䈩䈲⚦ᔃ䈱ᵈᗧ䉕ᛄ䈦䈩䈲䈍䉍䉁䈜䈏䇮ឝタ䈘䉏䈢ᖱႎ䈱⺋䉍䈍 䉋䈶ᒰ⾗ᢱ䈮ឝタ䈘䉏䈢ᖱႎ䈮ၮ䈨䈇䈩ⵍ䈦䈢䈇䈎䈭䉎៊ኂ䈮䈧䈇䈩䉅䇮ᒰ␠䈲৻ಾ⽿છ䉕⽶ 䈇䈎䈰䉁䈜䇯
Chubu Electric Power Company — FY2006 Earnings Presentation on 6ix