Vector Limited · NZX:VCT
Vector — Shareholder Meeting (September 2017)
37 slides from Vector's shareholder meeting presentation, Sep 26, 2017
Slide 1: Vector Annual Meeting
VECTOR ANNUAL MEETING ELLERSLIE EVENT CENTRE AUCKLAND 26 SEPTEMBER 2017
Slide 2: Disclaimer
DISCLAIMER This presentation contains forward-looking statements. Forward-looking statements often include words such as "anticipates", "estimates", "expects", "intends", "plans", "believes“ and similar words in connection with discussions of future operating or financial performance. The forward-lo
Slide 3: Michael Stiassny, Chairman
MICHAEL STIASSNY CHAIRMAN Vector VW
Slide 4: Directors
DIRECTORS • Karen Sherry • Hugh Fletcher • James Carmichael • Bob Thomson • Jonathan Mason • Dame Alison Paterson 4
Slide 5: Agenda
AGENDA • Ordinary business • Chairman’s address • Group chief executive’s address • Resolutions and voting • General business • Meeting close 5
Slide 6: Chairman's Address
CHAIRMAN’S ADDRESS 6
Slide 7: 11 Consecutive Years of Dividend Growth
11 CONSECUTIVE YEARS OF DIVIDEND GROWTH Dividend growth (cents per share) 8.00 8.00 7.75 8.00 7.75 7.50 7.50 7.25 7.50 6.50 6.75 6.00 7.50 7.50 7.75 8.00 6.75 7.00 7.25 6.00 6.50 6.50 6.50 6.50 FY06 FY07 FY08 FY09 FY10 FY11 FY12 FY13 FY14 FY15 FY16 FY17 Interim Final 7
Slide 8: Entrust Beneficiaries: Great Facebook Interactions
ENTRUST BENEFICIARIES: GREAT FACEBOOK INTERACTIONS 8
Slide 9: United Nations Sustainable Development Goals
UNITED NATIONS SUSTAINABLE DEVELOPMENT GOALS 9
Slide 10: The Energy Democracy
THE ENERGY DEMOCRACY • The four D’s: • Distributed Power • Decentralisation • Dispersed ownership • Disruptive technology 10
Slide 11: Power Now Lies with Consumers
POWER NOW LIES WITH CONSUMERS • Consumers now choose who, how and what with regards to energy provision • Energy businesses also have choice: to adapt or wither, to embrace disruption or lose relevance • Vector is choosing to meet our future responsibilities to Auckland and New Zealand 11
Slide 12: Responding to Customers and Challenging Norms
RESPONDING TO CUSTOMERS AND CHALLENGING NORMS • Embracing disruption • Customer-focused, innovative and sustainable initiatives at the heart of our strategy • Vector’s energy leadership is being endorsed through awards and results 12
Slide 13: Vector Has a Responsibility to Auckland and New Zealand
VECTOR HAS A RESPONSIBILITY TO AUCKLAND AND NEW ZEALAND 13
Slide 14: Climate Change Is Our Most Pressing Challenge
CLIMATE CHANGE IS OUR MOST PRESSING CHALLENGE 14
Slide 15: Playing Our Part and Paying Our Way in Society
PLAYING OUR PART AND PAYING OUR WAY IN SOCIETY 15
Slide 16: Simon Mackenzie, Group Chief Executive
SIMON MACKENZIE GROUP CHIEF EXECUTIVE 16
Slide 17: Creating a New Energy Future
CREATING A NEW ENERGY FUTURE 17
Slide 18: Customers Are at the Heart of Our Thinking
CUSTOMERS ARE AT THE HEART OF OUR THINKING 18
Slide 19: Embracing Change on Behalf of Consumers
EMBRACING CHANGE ON BEHALF OF CONSUMERS • We are experiencing accelerating technological change in sector, leading to more energy options for consumers • Advocating for regulation/energy policy that keeps pace with technological change and delivers customers choice and value 19
Slide 20: Our Results Show Progress on Our Ambitions
OUR RESULTS SHOW PROGRESS ON OUR AMBITIONS 1226.7 1144.6 FY16 FY17 473.0 474.4 367.4 352.1 322.6 335.7 274.4 168.9 168.9 156.9 159.4 58.9 Revenue Adjusted EBITDA Capital Expenditure Net Profit from Net Profit Operating Cash Flow* Full Year Dividend 3, 4 Continuing Operations +7.2% +0.3% +13.9% +186.
Slide 21: Expanding into New Ways to Meet Customer Needs
EXPANDING INTO NEW WAYS TO MEET CUSTOMER NEEDS • Acquired E-Co Products Group (trading as HRV and EES) & PowerSmart on 31 March 2017 for $106m • PowerSmart provides access to commercially proven solar/battery microgrid expertise • E-Co Products Group provides distribution potential for untapped resi
Slide 22: We Are Now a Technology Company
WE ARE NOW A TECHNOLOGY COMPANY 22
Slide 23: Transforming Electric Vehicles to Power Your Life
TRANSFORMING ELECTRIC VEHICLES TO POWER YOUR LIFE tt REVOLUTIONARY TWO-WAY CHARGERS 4 vector 7
Slide 24: Taking the Lead on Safety
TAKING THE LEAD ON SAFETY Total Lost Time Injury Frequency Rate (LTIFR) Number of lost time injuries per million hours worked, including contractors • Decision to turn off power, wherever possible, when working on the electricity network puts 2.90 2.96 2.80 safety first 2.76 2.52 • TRIFR result for
Slide 25: More New Energy Initiatives
MORE NEW ENERGY INITIATIVES • New Papakura bottling plant opening soon - will reduce handling by 80% and increase capacity to 1 million bottles each year • Now over 1.28 million smart meters owned and managed in New Zealand and Australia with more to come 25
Slide 26: Partnering with Auckland Council
PARTNERING WITH AUCKLAND COUNCIL 26
Slide 27: We Are Determined to Help Customers Make Smart Energy Choices
WE ARE DETERMINED TO HELP CUSTOMERS MAKE SMART ENERGY CHOICES 27
Slide 28: Highlighting Just Some of Our New Energy Initiatives
HIGHLIGHTING JUST SOME OF OUR NEW ENERGY INITIATIVES 28
Slide 29: Michael Stiassny, Chairman
MICHAEL STIASSNY CHAIRMAN 29
Slide 30: Ordinary Business
ORDINARY BUSINESS 30
Slide 31: Re-election of James Carmichael
Re-election of JAMES CARMICHAEL 31
Slide 32: Re-election of James Carmichael
Re-election of JAMES CARMICHAEL Proxy voting Votes For 805,523,510 Against 491,856 Discretionary 1,991,193 Abstain 48,989 32
Slide 33: Appointment and Remuneration of Auditor
Appointment and Remuneration of Auditor 33
Slide 34: Appointment and Remuneration of Auditor
Appointment and Remuneration of Auditor Proxy voting Votes For 803,631,439 Against 406,879 Discretionary 1,997,103 Abstain 20,127 34
Slide 35: Voting
VOTING ‹#›
Slide 36: General Business
GENERAL BUSINESS ‹#›
Slide 37: Thank You
THANK YOU Vector 7