Tokyo Gas Co., Ltd. · TSE:9531
Tokyo Gas — Q1 FY2019 Earnings Presentation
21 slides from Tokyo Gas's earnings presentation, Jul 29, 2019
Slide 1: FY2019 1Q Financial Results ended June, 2019
TSE:9531 FY2019 1Q Financial Results ended June, 2019 July 29, 2019 0
Slide 2: 1. FY2019 Consolidated Financial Results ended June, 2019
1. FY2019 Consolidated Financial Results ended June, 2019 1
Slide 3: FY2019 1Q Consolidated Results vs. FY2018 1Q
FY2019 1Q Consolidated Results (Apr. 1, 2019 – Jun. 30, 2019) <vs. FY2018 1Q> Highlights: Sales Up, Profit Down ( + - ,+/- indicate impact on profit, billion yen) Net sales +65.8 : + Gas (+52.3: Increase in city gas unit price due to resource cost adjustment +24.1, increase in city gas sales volume
Slide 4: FY2019 1Q Consolidated Gas Sales Volume/Number of Customers
FY2019 1Q Consolidated Gas Sales Volume/ Number of Customers <vs. FY2018 1Q> City Gas sales volume： *Each value is rounded. +227mil.㎥ (+7.2%) [including temperature effect +74mil.㎥, +2.3%] (mil. ㎥) ■Residential +30mil.㎥(+3.8%) 3,500 ●Temperature effect +59 mil.㎥ [3,372] ●Number of days +4 mil.㎥ [3,1
Slide 5: FY2019 1Q Consolidated Electricity Sales Volume/Number of Customers
FY2019 1Q Consolidated Electricity Sales Volume/ Number of Customers <vs. FY2018 1Q> Electricity sales volume： New electricity retail customers won by Tokyo Gas +608mil. kWh (+ 18.7%) ■Retailing + 508 mil. kWh(+44.7%) ■Wholesale etc. + 101 mil. kWh(+4.8%) (mil kWh) Quarter (1,000s) Cumulative (1,000
Slide 6: 1Q Results: Sales and Operating Profit/Loss by Business Segments
FY2019 1Q Results : Sales and Operating Profit/Loss by Business Segments ＜vs. FY2018 1Q ＞ (unit : billion yen) Segment Profit Net sales (Operating profit + Equity income/loss of subsidiary) FY2019 FY2018 FY2019 FY2018 1Q 1Q Change ％ 1Q 1Q Change ％ Results Results Results Results Gas 343.0 290.7 52.3
Slide 7: 1Q Results: Ordinary Profit Analysis
FY2019 1Q Results: Ordinary Profit Analysis <vs. FY2018 1Q> (Unit: billion yen) City gas +¥20.0bn Gas ・ Increase in gross margin +¥22.6bn: Change in sales +2.3 (incl. change due to temp. effect +¥22.2bn +4.2), sliding time lag effect +16.6, third-party access revenue, +3.2, etc. (+92.6%) (Net sale
Slide 8: 2. FY2019 Full Year Forecast
2. FY2019 Full Year Forecast No change in forecasts compared with the previous announcement (Earnings Announcement for FY2018 ended March 2019) 7
Slide 9: Consolidated Forecast (Apr. 1, 2019 – Mar. 31, 2020) vs. FY2018 Results
FY2019 Consolidated Forecast (Apr. 1, 2019 – Mar. 31, 2020) <vs. FY2018 Results> Highlights: Sales Up, Profit Up ( + - , +/- indicate impact on profit, billion yen) No change in forecasts compared with the previous announcement (Earnings Announcement for FY2018 ended March 2019) Net sales +80.7 : +
Slide 10: Full Year Forecast: Consolidated Gas Sales Volume/Number of Customers
FY2019 Full Year Forecast ; Consolidated Gas Sales Volume/Number of Customers Consolidated City Gas Sales Volume (Figures are rounded nearest mil ㎥) 16,000(Unit : million m3) VS. FY2018 Results [15,198] [14,541] -657 mil ㎥ (-4.3%) [Including temperature effect +209mil. ㎥, +1.4%] Residential Resident
Slide 11: Full Year Forecast: Consolidated Electricity Sales Volume/Number of Customers
FY2019 Full Year Forecast ; Consolidated Electricity Sales Volume/Number of Customers Consolidated Electricity Sales Volume Number of Retail Customers VS. FY2018 Results FY2019 FY2018 Change Forecast Results +4,459 mil kWh (+28.8%) Number of +62.6 retail customers 240.0 177.4 (+35.3%) （10 thousands)
Slide 12: Full Year Forecast: Sales and Profit/Loss by Business Segments
FY2019 Full Year Forecast : Sales and Profit/Loss by Business Segments <vs. FY2018 Results> (unit : billion yen) Segment Profit Net sales (Operating profit + Equity income/loss of subsidiary) FY2019 FY2018 ％ FY2019 FY2018 ％ Forecast Results Change Forecast Results Change Gas 1,462.2 1,413.7 48.5 3.4
Slide 13: FY2019 Forecast: Ordinary Profit Analysis
FY2019 Forecast: Ordinary Profit Analysis <vs. FY2018 Results> (Unit: billion yen) City gas +¥26.9bn Gas ・Increase in gross margin +¥42.0bn: Sliding time lag effect +30.2, change in sales +¥29.9bn volume, etc. +11.8 (incl. change due to temp. effect +14.1) (+32.4%) (Net sales) -¥17.8bn: Sliding ti
Slide 14: Uses of Cash Flow (Capex, Investment and financing)
FY2019 Uses of Cash Flow（Capex , Investment and financing） (Unit: billion yen) FY2018 Forecast Main Items Change ％ Results Capital Expenditure Production facilities : 14.0（- 4.6） Hitachi LNG terminal expansion, etc. Distribution facilities : 106.2（+5.7） Gas 191.4 156.7 ＋34.7 ＋22.1% Ibaraki Line inst
Slide 15: Key Indicators (Consolidated)
Key Indicators (Consolidated) (Unit: billion yen) FY2019 FY2018 FY2017 Forecast Results Results Total assets (a) 2,606.0 2,428.1 2,334.3 Shareholders’ equity (b) 1,195.0 1,159.0 1,136.0 Shareholders’ equity ratio (b)/(a) 45.9% 47.7% 48.7% Interest-bearing debt (c) 923.0 803.2 724.9 D/E ratio (c)/(b)
Slide 16: 3. Reference Materials
3. Reference Materials "TOKYO GAS
Slide 17: Gas Gross Margin Sensitivity to Change in Crude Oil Price and Exchange Rate
Gas Gross Margin Sensitivity to Change in Crude Oil Price and Exchange Rate Impact of rising JCC by $1/bbl (Unit: billion yen) Impact on earnings 2Q 3Q 4Q Full year 2Q -0.1 -0.7 +1.0 +0.2 3Q ― -0.3 -1.1 -1.4 Period 4Q ― ― -0.2 -0.2 Full year -0.1 -1.0 -0.3 -1.4 Impact of depreciation by ¥1/$ (Unit:
Slide 18: Key Topics in FY2019 (Excerpted from Press Releases up to 29th July)
Key Topics in FY2019 (Excerpted from Press Releases up to 29th July) Management ・Tokyo Gas Group Initiatives in FY2019 to Achieve GPS2020 (Apr. 10) Strategy Gas Electric Power ・Tokyo Gas executes a HOA with Shell Eastern Trading for the supply of LNG（Apr. 5） (G/P) ◆ Engineering Service ・ Mitsui Fudo
Slide 19: Overseas Projects
Overseas Projects 1 4 2 3 5 6 7 Investment No Country Subject Main Business year ■Southeast Asia ■North America Downstream Upstream GAS MALASIA Bhd. 1992 Barnett 2013 City gas Shale gas ③ Malaysia GAS MALASIA ENERGY Downstream Upstream 2014 Eagle Ford 2016 ADVANCE Sdn.Bhd. Energy Service Shale gas D
Slide 20: Trends in city gas/electricity switching, Number of customers for city gas retail
Trends in city gas/electricity switching(published data), Number of customers for city gas retail sales(Tokyo gas consolidated) Electricity switchers (based on applications) City gas switchers (based on applications) Monthly(1,000s) Cumulative(1,000s) Monthly(1,000s) Cumulative(1,000s) 500 14,000 18
Slide 21: Cautionary Statement regarding Forward-looking Statements
< Cautionary Statement regarding Forward‐looking Statements > Statements made in this presentation with respect to Tokyo Gas’s present plans, forecasts, strategies and beliefs, and other statements herein that are not expressions of historical fact are forward‐looking statements about the future per