Genesis Energy Limited · NZX:GNE
Genesis Energy — Corporate Update (January 2020)
20 slides from Genesis Energy's corporate update, Jan 23, 2020
Slide 1: Genesis Energy Segment Note Update
Genesis Energy Segment Note Update 23 January 2020 GENESIS ENERGY LIMITED
Slide 2: Contents
Contents Section Discussion Page 1 Summary of Key Segment Note Changes 3 Half Year 2019 Segment Note Update and Reconciliation 5 2 • HY19 Operating Revenue • HY19 Operating Expenses Full Year 2019 Segment Note Update and Reconciliation 10 3 • FY19 Operating Revenue • FY19 Operating Expenses Restatem
Slide 3: 1. Summary of Key Segment Note Changes
1. Summary of Key Segment Note Changes
Slide 4: Key Segment Note Changes
Key Segment Note Changes ❖ The key structural changes to the segment note affect only items above EBITDAF. ❖ The segment note EBITDAF is now broken out into gross margin and other operating expenses. Previously gross margin was not differentiated in the note. ❖ Other changes to the structure include
Slide 5: 2. Half Year 2019 Update and Reconciliation
2. Half Year 2019 Update and Reconciliation
Slide 6: HY19 Operating Revenue
HY19 Operating Revenue Significant changes are discussed below and refer to the segment note table on the next slide: 1) External Revenue: a) Retail: Revenue lines by product now include revenue recoveries, which were previously included in other revenue (Electricity $5.3m, Gas $0.7m, LPG $0.4m). $1
Slide 7: New Segment Note Reconciliation: HY19 Operating Revenue
New Segment Note Reconciliation: HY19 Operating Revenue ➢ Please refer to the previous slide for discussion points referenced under the New Segment Note. ➢ Note that all restated financial numbers remain unaudited at the stage of market issue, whereby some minor rounding differences may be present,
Slide 8: HY19 Operating Expenses
HY19 Operating Expenses Significant changes are discussed below and refer to the segment note table on the next slide: 1) Electricity & gas purchase, transmission and distribution costs are now split between respective product purchase lines and network, transmission levies and metering costs: a) Re
Slide 9: New Segment Note Reconciliation: HY19 Operating Expenses
New Segment Note Reconciliation: HY19 Operating Expenses ➢ Please refer to the previous slide for discussion points referenced under the New Segment Note. ➢ Note that all restated financial numbers remain unaudited at the stage of market issue, whereby some minor rounding differences may be present,
Slide 10: 3. Full Year 2019 Update and Reconciliation
3. Full Year 2019 Update and Reconciliation
Slide 11: FY19 Operating Revenue
FY19 Operating Revenue Significant changes are discussed below and refer to the segment note table on the next slide: 1) External Revenue: a) Retail: Revenue lines by product now include revenue recoveries, which were previously included in other revenue (Electricity $10.5m, Gas $1.3m, LPG $0.7m). $
Slide 12: New Segment Note Reconciliation: FY19 Operating Revenue
New Segment Note Reconciliation: FY19 Operating Revenue ➢ Please refer to the previous slide for discussion points referenced under the New Segment Note. ➢ Note that all restated financial numbers remain unaudited at the stage of market issue, whereby some minor rounding differences may be present,
Slide 13: FY19 Operating Expenses
FY19 Operating Expenses Significant changes are discussed below and refer to the segment note table on the next slide: 1) Electricity & gas purchase, transmission and distribution costs are now split between respective product purchase lines and network, transmission levies and metering costs: a) Re
Slide 14: New Segment Note Reconciliation: FY19 Operating Expenses
New Segment Note Reconciliation: FY19 Operating Expenses ➢ Please refer to the previous slide for discussion points referenced under the New Segment Note. ➢ Note that all restated financial numbers remain unaudited at the stage of market issue, whereby some minor rounding differences may be present,
Slide 15: 4. Restatement Relating to Adoption of NZ IFRS 16: Leases and Removal of Corporate Allocations
4. Restatement Relating to Adoption of NZ IFRS 16: Leases and Removal of Corporate Allocations
Slide 16: NZ IFRS 16 Leases adoption
NZ IFRS 16 Leases adoption ➢ The following summarises the impact of the adoption of NZ IFRS 16 Leases accounting standard. As noted in the FY19 Annual Report the full retrospective method has been applied on adoption of the standard. Full transition details will be disclosed in the FY20 Annual Repor
Slide 17: Business Structure and Cost Allocation Changes
Business Structure and Cost Allocation Changes Business structural changes: The key structural change is the Technology and Digital function move from Corporate into the Retail Segment, and the related Employee Benefits and expenses previously in Corporate now recognised in Retail. HY19 Technology a
Slide 18: 5. Appendix: Restated Segment Note for FY2019 Half and Full Year
5. Appendix: Restated Segment Note for FY2019 Half and Full Year
Slide 19: Notes to the condensed consolidated interim financial statements
Genesis Energy Limited Notes to the condensed consolidated interim financial statements Segment reporting Restated Restated Restated Restated Restated retail wholesale kupe corporate total Six months ended 31 December 2018 unaudited unaudited unaudited unaudited unaudited $ million $ million $ milli
Slide 20: Notes to the consolidated financial statements
Genesis Energy Limited Notes to the consolidated financial statements Segment reporting Restated Restated Restated Restated Restated retail wholesale kupe corporate total unaudited unaudited unaudited unaudited unaudited Year ended 30 June 2019 $ million $ million $ million $ million $ million Elect