Chubu Electric Power Company,incorporated · TSE:9502
Chubu Electric Power Company,incorporated — Q3 FY2020 Earnings Presentation
32 slides from Chubu Electric Power Company,incorporated's earnings presentation, January 2021
Slide 1: Presentation Materials for Investors 3rd Quarter FY2020
Presentation Materials for Investors 3rd Quarter FY2020 January, 2021
Slide 2: INDEX
INDEX Ⅰ Outline of Financial Results for Ⅲ Reference Data: Management Information Nine-Months ended December 31, 2020 Summary of Financial Results ･････････････ 1 Consolidated Ordinary Income (Loss) and Net Income (Loss) ････････････15 Summary of Financial Results by Segments ･････････････ 4 Fund Ra
Slide 3: Outline of Financial Results for Nine-Months ended December 31, 2020
Outline of Financial Results for Ⅰ Nine-Months ended December 31, 2020 Note: The company’s fiscal year (FY) is from April 1 to March 31 of the following year. FY2020 represents the fiscal year begun on April 1, 2020, and ending on March 31, 2021. 3rd Quarter (3Q) represents nine months period ended
Slide 4: Summary of Financial Results <1>
Summary of Financial Results <1> <Points of Financial Results> (Consolidated) ■ Operating revenues: 2,112.5 billion yen Operating revenues decreased by 168.1 billion yen compared with 2019/3Q, mainly due to a decrease in electrical energy sold caused by the impact of COVID-19 (-109.6 billion yen) an
Slide 5: Summary of Financial Results <2>
Summary of Financial Results <2> [Factors contributing to change in consolidated operating revenues] (Operating revenues decreased by 168.1 billion yen) （Billion yen） 24,000 2,400.0 A decrease in electrical energy sold -109.6 A decrease in fuel cost 2,200.0 22,000 adjustment charge Others -92.7 34.2
Slide 6: Summary of Financial Results <3>
Summary of Financial Results <3> [Factors contributing to change in consolidated ordinary income] (Ordinary income increased by 26.1 billion yen) （Billion yen） 2,200 220.0 An impact of COVID-19 (a decrease in electrical energy sold, etc. ) -12.0 ･･(a) 2,000 An increase in JERA 200.0 time lag income
Slide 7: Summary of Financial Results by Segments <1>
Summary of Financial Results by Segments <1> [Operating revenues] (Billion yen, %) 2020/3Q 2019/3Q Change (A) (B) (A-B) (A-B)/B Miraiz 1,770.8 1,998.0 (227.2) (11.4) Power Grid 550.2 551.9 (1.6) (0.3) Others (*1) 528.8 539.8 (11.0) (2.1) Adjustment charge (737.3) (809.1) 71.7 8.9 Total 2,112.5 2,280
Slide 8: Summary of Financial Results by Segments <2>: Miraiz
Summary of Financial Results by Segments <2>: Miraiz <Factors contributing to change in Ordinary income > Ordinary income decreased by 2.4 billion yen compared with 2019/3Q, mainly due to a decrease in electrical energy sold caused by the impact of COVID-19 and competitive impacts in sales in spite
Slide 9: Summary of Financial Results by Segments <3>: Power Grid
Summary of Financial Results by Segments <3>: Power Grid <Factors contributing to change in Ordinary income > Ordinary income decreased by 3.8 billion yen compared with 2019/3Q, mainly due to a decrease in energy demand in Chubu region caused by the impact of COVID-19 in spite of a decrease in maint
Slide 10: Summary of Financial Results by Segments <4>: JERA
Summary of Financial Results by Segments <4>: JERA <Factors contributing to change in Ordinary income > Ordinary income increased by 19.4 billion yen compared with 2019/3Q, mainly due to an expansion of time lag income in spite of the impact of COVID-19, etc. An impact of COVID-19 An increase in tim
Slide 11: Electric Energy Output
Electric Energy Output < Power generation > (Chubu Electric Power) ■ Hydro Almost the same as in 2019/3Q ■ Renewable energy Increased by 0.3TWh, mainly due to the commencement of operation of Yokkaichi Biomass Power Generation. (TWh,%) Change 2020/3Q 2019/3Q (A) (B) (A-B) (A-B)/B Hydro 6.9 7.0 (0.1)
Slide 12: (Reference) Impact of Accrued Income (Result)
(Reference) Impact of Accrued Income (Result) ＜2019/3Q＞ ＜2020/3Q＞ Income Income 37.0 billion yen 66.0 billion yen Elements of income (time lag from fuel procurement) Elements of cost (fuel procurement) 2019/4 2020/1 2020/4 2021/1 2021/4 9 C o p y r i g h t © C h u b u E l e c t r i c P o we r C o .
Slide 13: Summary of Forecast for FY2020 <1>
Summary of Forecast for FY2020 <1> <Forecast> (Consolidated) Forecasts of financial results have not been revised from the previous announcement made in October 30, 2020 The energy demand for FY2020 in the Chubu region will decrease by approx. 2% compared with FY2019 mainly due to the impact of COVI
Slide 14: Summary of Forecast for FY2020 <2>
Summary of Forecast for FY2020 <2> 【Principal Figures】 <Electrical Energy Sold> (TWh,%) Current October 30 Change (A) (B) (A-B) (A-B)/B Electrical Energy Sold 111.7 111.7 - - Electrical Energy Sold including group companies 117.2 117.2 - - ［Reference］Comparison with FY2019 (TWh,%) Current FY2019 Cha
Slide 15: Reference Data: Financial Results
Ⅱ Reference Data : Financial Results C o p y r i g h t © C h u b u E l e c t r i c P o we r C o . , I n c . A l l r i g h t s r e s e r v e d .
Slide 16: Consolidated Statements of Income
Consolidated Statements of Income (Billion yen,%) 2020/3Q 2019/3Q Change (A) (B) (A-B) (A-B)/B Operating revenues 2,112.5 2,280.7 (168.1) (7.4) Share of profit of entities accounted for using equity 90.3 72.7 17.6 24.2 method Other 5.7 8.8 (3.1) (35.7) Non-operating revenues 96.0 81.6 14.4 17.7 Ordi
Slide 17: Consolidated Financial Standing
Consolidated Financial Standing (Billion yen) Dec. 31, 2020 Mar. 31, 2020 Change <Major factors for change> (A) (B) (A-B) An increase in long- Assets 5,610.6 5,500.8 109.8 term investments in subsidiaries and associates ＋71.2 Liabilities 3,533.6 3,538.7 (5.0) (an increase caused by posting JERA prof
Slide 18: Impact of the Feed-in-Tariff Scheme for Renewable Energy
Impact of the Feed-in-Tariff Scheme for Renewable Energy <Result of 2020/3Q > *change from the previous year in parenthesis Renewable energy Miraiz Electricity generators Power Grid customers Purchased cost (Purchased Surcharge under act on purchase of power from other suppliers) renewable energy so
Slide 19: Reference Data: Management Information
Ⅲ Reference Data: Management Information C o p y r i g h t © C H U B U E l e c t r i c P o we r C o . , I n c . A l l R i g h t s R e s e r v e d .
Slide 20: Consolidated Ordinary Income (Loss) and Net Income (Loss)
Consolidated Ordinary Income (Loss) and Net Income (Loss) [Ordinary Income (Loss)] [Net Income (Loss)] (billion yen) (billion yen) 300.0 300.0 255.6 250.0 250.0 200.0 191.8 200.0 169.7 163.4 145.0 150.0 150.0 128.5 121.4 112.9 114.6 115.0 100.0 100.0 74.3 79.4 60.2 50.0 50.0 38.7 0.0 0.0 (50.0) (50.
Slide 21: Fund Raising and Outstanding Interest-bearing Debt
Fund Raising and Outstanding Interest-bearing Debt [Fund raising (Nonconsolidated) ] [Outstanding Interest-bearing debt (Consolidated) ] (billion yen) (billion yen) 900.0 3,400.0 820.0 3,260.5 3,260.0 800.0 3,200.0 700.0 2,965.8 2,981.1 3,000.0 2,918.9 600.0 526.0 500.0 2,800.0 FY2020 Funding 2,674.
Slide 22: Consolidated Cash Flow
Consolidated Cash Flow （billion yen） 800.0 Cash Flows from Operating Activities Cash Flows from Investing Activities FCF 600.0 562.4 476.8 424.1 approx. 400.0 335.0 340.0 296.4 254.4 255.8 227.6 203.7 194.0 200.0 176.8 approx. 79.6 70.0 0.0 (25.1) (70.2) (62.8) (102.9) (71.9) (200.0) (247.0) (266.6)
Slide 23: Consolidated Financial Ratio, Credit Ratings
Consolidated Financial Ratio, Credit Ratings (%) [Shareholders’ equity ratio] [Debt-Equity ratio] (Times) 40.0 2.5 approx. 2.3 35.0 2.2 35.0 34.4 2.1 2.0 31.1 31.3 1.8 1.7 29.7 1.6 1.6 30.0 28.9 1.5 1.5 1.5 approx. 26.8 1.3 26.1 24.7 25.0 24.2 1.0 20.0 0.5 （FY） 2011 2012 2013 2014 2015 2016 2017 201
Slide 24: Consolidated ROA and ROE
Consolidated ROA and ROE （%） [ROA] （%） [ROE] 6.0 16.0 5.3 14.0 5.0 12.0 11.1 4.0 3.7 10.0 approx. 8.9 3.0 2.8 3.0 8.0 2.7 7.0 approx. 2.4 6.0 6.0 2.0 1.9 4.5 4.4 4.0 2.7 1.0 2.0 0.0 0.0 (0.0 ) (2.0) (1.0) (0.6) (0.9) (2.2) (4.0) (2.0) (4.6) (6.0) (5.8) (3.0) (8.0) (FY) (FY) 2011 2012 2013 2014 2015
Slide 25: Sales Figures of Miraiz Group
Sales Figures of Miraiz Group 2020/3Q Target The number of entry; Approx. 2.29 million - New electric tariff menu As of December, 2020 Chubu region The number of sales; Acquire 100 thousand customers Approx. 46 thousand Services in a set with electric power or gas As of January 6, 2021 by FY2020 Inc
Slide 26: Monthly Breakdown of Electrical Energy Sold of Miraiz
Monthly Breakdown of Electrical Energy Sold of Miraiz (TWh) FY2020 Apr.- Apr. May June July Aug. Sep. Oct. Nov. Dec. Dec. Low voltage 2.9 2.6 2.0 2.4 3.1 3.0 2.3 2.5 2.5 23.3 High voltage・ Extra-high 6.0 5.4 6.1 6.7 6.8 7.3 6.6 6.3 6.3 57.5 voltage Total 9.0 8.0 8.1 9.1 9.9 10.3 8.9 8.8 8.8 80.8 (TW
Slide 27: Structure of Power Generated and Procured
Structure of Power Generated and Procured [Structure of Power Generated and Procured] [Government’s Long-term Energy 100% Supply-demand Outlook] Nuclear 10% JEPX, Other*1 15% 20～ Nuclear 8% FIT Renewable Energy 80% 9% 3% Renewable Energy*2 22% Oil 6% Hydro*3 4% 1% Oil Expansion 22～24% Renewable Ener
Slide 28: Overview of Renewable Energy Business
Overview of Renewable Energy Business Chubu Electric Other Associated Companies of Renewable Energy Company・Miraiz Chubu Electric Conventional hydro 191 Site : Akigami : 0.29MW Development locations of hydroelectric power station Approx. 2,140MW Sakore : 0.38MW Conventional hydro operating Tsukuyone
Slide 29: Overview of Overseas Business <1>
Overview of Overseas Business ＜1＞ [Submarine power transmission business in Germany] [Submarine power transmission business in the UK] Overview of the business Overview of the business Operating and maintaining following four submarine Operating and maintaining the offshore electricity Project trans
Slide 30: Overview of Overseas Business <2>
Overview of Overseas Business ＜2＞ [Mitsubishi Corporation and Chubu Electric Power acquired Dutch Energy Company “Eneco”] Overview of the business Positioned as a platform in the European electric power business, and expand growth areas such as renewable energy, retail Purpose and new services in th
Slide 31: DISCLAIMER
DISCLAIMER This presentation contains assumptions and forward-looking statements with respect to the financial conditions, and forecasts of the company, which are based on information currently available. These assumptions involve certain risks and uncertainties, and may cause actual results materia
Slide 32: C o p y r i g h t © C H U B
C o p y r i g h t © C H U B U E l e c t r i c P o we r C o . , I n c . A l l R i g h t s R e s e r v e d .
Chubu Electric Power — Q3 FY2020 Earnings Presentation on 6ix