Uil Co. Ltd. · KRX:049520
Uil — Q3 2015 Earnings Presentation
18 slides from Uil's earnings presentation, Nov 2, 2015
Slide 1: 3Q '15 Earnings Presentation
3Q ‘15 Earnings PresentationNovember 3, 2015 Exhibit 99.2
Slide 2: Forward Looking Statements
Forward Looking Statements James TorgersonPresident and Chief Executive OfficerRichard NicholasExecutive Vice President and Chief Financial Officer Visit our website at www.UIL.com Certain statements contained in this presentation regarding matters that are not historical facts, are forward-looking
Slide 3: Important Information For Investors & Shareholders
Important Information For Investors &Shareholders Important Information For Investors And ShareholdersThis communication does not constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote or approval. This communication may be deemed to be solici
Slide 4: 3Q '15 Earnings Summary
3Q ’15 consolidated net income was $15.6M, or $0.27 per diluted share, compared to $12.5M, or $0.22 per diluted share, in the 3Q ’14YTD ’15 consolidated net income was $89.1M, or $1.55 per diluted share, compared to $77.3M, or $1.35 per diluted share, YTD ‘14Consolidated earnings for the 3Q & YTD ’1
Slide 5: Iberdrola USA/UIL Merger
BIL UIL HOLDINGS Iberdrola USA/UIL Merger
Slide 6: Transaction Timeline - Filings & Approvals
Transaction Timeline - continue to expect to close by year-end ‘15 Filings & Approvals Date Filed Actions to Date Hart-Scott-Rodino 3/25/15 Process completed Federal Communications Commission 5/21/15 5/22/15 FERC 3/25/15 Approved 6/2/15 Committee on Foreign Investments 5/8/15 Review completed Connec
Slide 7: Highlights of Settlement Agreement with CT OCC
Highlights of Settlement Agreement with CT OCC Customer Rate Credits – $20M in the aggregate to customers of UI, CNG & SCGAdditional Ratepayer Benefits for CNG - $12.5M in rate credits over a 10-year periodAdditional Ratepayer Benefits for SCG $7.5M in rate credits over a 10-year periodIncreased bar
Slide 8: Highlights of Settlement Agreement with CT OCC - cont.
Highlights of Settlement Agreement with CT OCC – cont. English Station – proposed partial consent order that would, upon approval by the CT DEEP and closing of the merger transaction, require UI to investigate & remediate certain environmental conditions on-siteLitigation – resolution of appeals and
Slide 9: Highlights of Settlement Agreement with MA AG & MA DOER
Highlights of Settlement Agreement with MA AG &MA Department of Energy Resources 9 Customer Rate Credits – $4M in the aggregate to customers of Berkshire (BGC)Additional Ratepayer Benefits for BGC - $1M allocated for jobs, economic development, alternative heating programs or for customers impacted
Slide 10: UIL Holdings Stand-alone
BIL UIL HOLDINGS UIL Holdings Stand-alone
Slide 11: 2015 target to convert at least 12,000 households & businesses
‘15 target is to convert at least 12,000 households & businessesConverted 6,754 households & businesses as of 9/30/15Natural gas remains more cost effective than home heating oil and the benefits of natural gas remain advantageous for our customers* Acquisition Nov. ‘10 Gas Heating Customers # of Co
Slide 12: 3Q & YTD '15 Financial Results by Segment
3Q & YTD ‘15 Financial Results by Segment
Slide 13: 3Q & YTD '15 Financial Results - Details: Electric Distribution
Electric Distribution3Q ’15 earnings of $18.1M, or $0.31 per diluted share, compared to earnings of $17.9M, or $0.31 per diluted share, in the 3Q ’14YTD ’15 earnings of $39.9M, or $0.70 per diluted share, compared to earnings of $43.1M, or $0.75 per diluted share, YTD ‘14Decrease in earnings primari
Slide 14: Electric Transmission - cont.
Electric Transmission – cont.Electric transmission earnings, excluding the non-recurring transmission ROE reserves, for the 3Q & YTD September 30 were:Decrease in earnings for both the 3Q & YTD ’15 was primarily due to a lower ROE as a result of the ROE proceedings pending at the FERC Overall weight
Slide 15: Gas Distribution - cont.
Gas Distribution – cont.YTD ’15 earnings of $35.2M, or $0.61 per diluted share, compared to earnings of $30.3M, or $0.53 per diluted share, YTD ’14Increase in earnings primarily due to –- colder weather, usage from new gas heating customers and lower uncollectible expense (even though uncollectible
Slide 16: Corporate
CorporateCosts were $3.5M, after-tax, or $0.06 per diluted share, in the 3Q ’15, compared to costs of $4.4M, after-tax, or $0.08 per diluted share, in the 3Q ’14Costs were $8.7M, after-tax, or $0.15 per diluted share, YTD ’15, compared to costs of $19.2M, or $0.33 per diluted share, YTD ‘14Corporate
Slide 17: Affirming '15 Earnings Guidance
Affirming ‘15 Earnings Guidance
Slide 18: Questions
OIL UIL HOLDINGS Questions fa v