Tokyo Electric Power Company Holdings, Incorporated · TSE:9501
Tokyo Electric Power — H1 FY2004 Earnings Presentation
21 slides from Tokyo Electric Power's earnings presentation, Nov 12, 2004
Slide 1: FY 2004 Interim Results and Management Vision 2010
FY 2004 Interim Results (April 1, 2004 – September 30, 2004) and Management Vision 2010 November 12, 2004 Katsutoshi Chikudate Executive Vice President Tokyo Electric Power Company
Slide 2: Regarding Forward Looking Statements (Performance Projections)
1 Regarding Forward Looking Statements (Performance Projections) Certain statements in the following presentation regarding Tokyo Electric Power Company’s business operations may constitute “forward looking statements.” As such, these statements are not historical facts but rather predictions about
Slide 3: Table of Contents
Table of Contents FY 2004 Interim Results (April 1, 2004 – September 30, 2004) ● FY 2004 Interim Results Summary (Consolidated and Non-consolidated) 4 ● Income Statement and Segment Information (Consolidated) 5 ● Income Statement Explanation – Ordinary Revenues (Non-consolidated) 6 ● Income Statemen
Slide 4: FY 2004 Interim Results (April 1, 2004 – September 30, 2004)
3 FY 2004 Interim Results (April 1, 2004 – September 30, 2004)
Slide 5: FY 2004 Interim Results Summary (Consolidated and Non-consolidated)
FY 2004 Interim Results Summary (Consolidated and Non-consolidated) 4 (Upper and lower rows show consolidated and non-consolidated figures) (Unit: Billion yen) 1st half 1st half Comparison FY 2004 (A) FY 2003 (B) (A)–(B) (A)/(B) (%) Operating Revenues 2,528.9 2,400.1 128.8 105.4 2,464.8 2,345.1 119.
Slide 6: Income Statement and Segment Information (Consolidated)
Income Statement and Segment Information (Consolidated) 5 (Unit: Billion yen) 1st half 1st half Comparison FY 2004 (A) FY 2003 (B) (A)–(B) (A)/(B) (%) Operating Revenues 2,528.9 2,400.1 128.8 105.4 * Investment loss expressed using negative numbers; figures inside parenthesis indicate Operating Prof
Slide 7: Income Statement Explanation – Ordinary Revenues (Non-consolidated)
Income Statement Explanation – Ordinary Revenues (Non-consolidated) 6 (Unit: Billion yen) 1st half 1st half Comparison FY 2004 (A) FY 2003 (B) (A)–(B) (A)/(B) (%) Ordinary Revenues 2,483.1 2,356.9 126.2 105.4 Operating Revenues 2,464.8 2,345.1 119.6 105.1 Increase in Electricity Sales Volume (+8.3 b
Slide 8: Income Statement Explanation – Ordinary Expenses (Non-consolidated)
Income Statement Explanation – Ordinary Expenses (Non-consolidated) 7 (Unit: Billion yen) 1st half 1st half Comparison Retirement benefits -¥3.7 billion FY 2004 (A) FY 2003 (B) (A)–(B) (A)/(B) (%) Welfare expenses -¥4.7 billion Ordinary Expenses 2,156.2 2,225.0 (68.7) 96.9 Consumption volume -¥56.0
Slide 9: Application of Free Cash Flow and Balance Sheet
Application of Free Cash Flow and Balance Sheet (Consolidated and Non-consolidated) 8 Application of Free Cash Flow (Upper and lower rows show consolidated and non-consolidated figures) (Unit: Billion yen) 1st half 1st half (A)–(B) FY 2004 (A) FY 2003 (B) Cash Flow from Operating Activities 619.8
Slide 10: Information and Telecommunications Business (Segment Information)
Information and Telecommunications Business (Segment Information) 9 (Unit: Billion yen) 1st half 1st half Comparison FY 2004 (A) FY 2003 (B) (A)-(B) (A)/(B) (%) TEPCO Operating Revenues 3.7 1.7 1.9 211.7 Fiber Optics Network Company Operating Profit (11.4) (5.7) (5.6) – TEPCO Cable Operating Revenue
Slide 11: Conditions at POWEREDCOM
Conditions at POWEREDCOM 10 The performance of the POWEREDCOM Group is included in TEPCO’s consolidated performance from the 2nd half of FY 2004 Main Results of the POWEREDCOM Group Influence on TEPCO’s Consolidated Performance (Unit: Billion yen) <Reference> 1st half FY 2004 2nd half FY 2004 FY 200
Slide 12: Performance Outlook for FY 2004 (Consolidated and Non-consolidated)
Performance Outlook for FY 2004 (Consolidated and Non-consolidated) 11 (Unit: Billion yen) Operating Operating Profit Ordinary Profit Net Income Revenues Prior Projection Consolidated 5,050.0 510.0 355.0 195.0 Non-consolidated 4,800.0 500.0 350.0 225.0 Consolidated 5,060.0 520.0 360.0 198.0 Present
Slide 13: Other Businesses (Segment Information)
Other Businesses (Segment Information) 12 (Unit: Billion yen) 1st half 1st half Comparison FY 2004 (A) FY 2003 (B) (A)-(B) (A)/(B) (%) TEPCO Gas Business Operating Revenues 2.8 1.3 1.4 206.5 Company Operating Profit 0.1 0.1 0 85.3 Conditions at the Gas Business Company [Performance, Etc.] • Although
Slide 14: Electricity Sales Outlook, Key Factors and Financial Influence
Electricity Sales Outlook, Key Factors and Financial Influence 13 Electricity Sales Outlook (Unit: Billion yen) <reference> 1st half FY 2004 2nd half FY 2004 FY 2004 full year FY 2003 full year (actual) (projection) (projection) (actual) Lighting 44.6 47.7 92.3 86.9 Other than eligible customers’ us
Slide 15: Total Power Generated and Purchased, and Electricity Sales Volume
Total Power Generated and Purchased, and Electricity Sales Volume 14 Units: Million kWh; (%) April 2004 May 2004 June 2004 July 2004 August 2004 Sept. 2004 FY 2004 Oct. 2004 Electricity Sales Volume Trends 1st half total • Large year-on-year increase in Total Power Generated and 22,845 23,482 25,7
Slide 16: Management Plan Targets and Performance
Management Plan Targets and Performance 15 <Reference> 2004 management 2004 plan (Fiscal Year) 1999 2000 2001 2002 2003 1st half Full Year 2004-2006 targets (actual) (projected) FCF 410.4 506.2 604.5 649.4 543.5 362.2 At least 550.0 At least ¥550 billion (billion yen) 417.2 529.8 613.5 648.5 557.8 3
Slide 17: Management Vision 2010
16 Management Vision 2010
Slide 18: Concepts in Drafting the Medium-term Management Policy Management Vision 2010
Concepts in Drafting the Medium-term Management Policy “Management Vision 2010” 17 TEPCO TEPCOManagement ManagementVision Vision → Outlook is that virtually all of the goals for reinforcing March the corporate constitution will be achieved, including March2001 2001(target (targetyear yearofofFY FY20
Slide 19: Management Vision 2010: Management Principles and Guidelines
Management Vision 2010: Management Principles and Guidelines 18 Group Management Principle Contribute to the realization of affluent living and pleasant environment by offering optimal energy services Group Management Guidelines The TEPCO Group promotes this Management Principle, and strives to beco
Slide 20: Numerical Targets 2010 (compared with prior targets)
Numerical Targets 2010 (compared with prior targets*) 19 * Prior targets under “Challenge 20 Plus 1” Challenge 20 Plus 1 Numerical Numerical Targets Targets 2010 2010 [target year of FY 2005] [target year of FY 2010] Improve efficiency by at Improve Improve efficiency efficiency by by at at least le
Slide 21: Management Vision 2010 Business Growth Targets (fields other than electric power)
Management Vision 2010 Business Growth Targets (fields other than electric power) 20 Decline in Electric Power Effective Use of the TEPCO Business Revenues Group’s Management (stagnant demand growth + intensified price competition) Resources ¾ Position ¾ Position the the following following four fou
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