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: Tokyo Gas, July 29, 2019
"F TOKYO GAS July 29, 2019
Slide 2: 1. FY2019 Consolidated Financial Results ended June, 2019
1. FY2019 Consolidated Financial Results ended June, 2019 TOKYO GAS
Slide 3: 1Q FY2019 net sales and profit summary
In 1Q FY2019, we posted net sales of ¥467.2 billion, a rise of ¥65.8 billion or 16.4% year-on-year. This is mainly attributable performance in the gas segment and the electric power segment. In the gas segment, net sales rose reflecting benefit of ¥24.1 billion from a rise in the gas unit price owin
Slide 4: Total gas sales volume in 1Q FY2019
In 1Q FY2019, we posted total gas sales volume of 3,372 million m 3, a growth of 227 million m3 or 7.2% year-on-year. This is primarily attributable to the 306 million m3 rise in sales volume to power generation customers. We note that the number of city gas retail customers as of the end of June 20
Slide 5: Consolidated electricity sales volume and retail customers
Consolidated electricity sales volume for the quarter was 3,865 million kWh, an increase of 608 million kWh or 18.7% year-on-year. This mainly reflects a rise in retail sales volume of 44.7% to 508 million kWh owing to a growth in the number of electricity retail customers. We note that, as shown in
Slide 6: Net sales and segment profit by segment
Slide 5 shows net sales by segment and segment profit (operating profit + equity income/loss of subsidiary), and changes thereof. Total segment profit grew ¥22 billion. This chiefly reflects an increase of ¥22.2 billion in the gas segment. 5
Slide 7: Segment profit changes by segment
In the gas segment, the growth in profit of ¥22.2 billion reflects a ¥22.6 billion rise in city gas gross margin, of which ¥16.6 billion is a gain from the sliding time lag. In the electric power segment, profit was down ¥400 million year-on-year. Although gross margin grew in tandem with the increa
Slide 8: Full-year forecast outline
Slide 7 onward outlines our forecasts for the full fiscal year. Figures for our full-year forecast have not changed since the initial forecast we announced at the end of April 2019. We have determined that we can expect the profit as initial forecasted at this stage, given our performance in 1Q and
Slide 9: FY2019 forecast unchanged
(We did not revise our FY2019 forecast. It is the same as the forecast we disclosed on April 26.) 8
Slide 10: FY2019 forecast unchanged
(We did not revise our FY2019 forecast. It is the same as the forecast we disclosed on April 26.) 9
Slide 11: FY2019 forecast unchanged
(We did not revise our FY2019 forecast. It is the same as the forecast we disclosed on April 26.) 10
Slide 12: FY2019 forecast unchanged
(We did not revise our FY2019 forecast. It is the same as the forecast we disclosed on April 26.) 11
Slide 13: FY2019 forecast unchanged
(We did not revise our FY2019 forecast. It is the same as the forecast we disclosed on April 26.) 12
Slide 14: FY2019 forecast unchanged
(We did not revise our FY2019 forecast. It is the same as the forecast we disclosed on April 26.) 13
Slide 15: FY2019 forecast unchanged
(We did not revise our FY2019 forecast. It is the same as the forecast we disclosed on April 26.) 14
Slide 16: Reference materials
The following reference materials include a table on economic framework assumptions, a list of major press releases from April 1, 2019 to date, a list of overseas projects, and the number of switches to other electricity and city gas service providers. 15
Slide 17: Gas Gross Margin Sensitivity to Crude Oil Price and Exchange Rate
Gas Gross Margin Sensitivity to Change in Crude Oil Price and Exchange Rate "ETOKYOGAS =| Impact of rising JCC by $1/bbl (Unit: billion yen) Impact on earnings 2Q 3Q 4Q Full year 2a -0.1 0.7 +1.0 +0.2 period 22 — 0.3, “11 “14 4Q _ _ -0.2 -0.2 | Fullyear | 0.1) -1.0. -0.3, -1.4 Impact of depreciation
Slide 18: Key Topics in FY2019
Key Topics in FY2019 (Excerpted from Press Releases up to 29th July) "TOKYO GAS =| semen + Tokyo Gas Group Initiatives in FY2019 to Achieve GPS2020 (Apr. 10) Gas Electric Power | | - Tokyo Gas executes a HOA with Shell Eastern Trading for the supply of LNG(Apr. 5) (GIP) KJ Engineering Sermce + Mitsu
Slide 19: Overseas Projects
Overseas Projects "ETOKYOGAS =| ——— a ian bares >=] 2! ! = WNorth America Southeast Asia 7 =] a 1992 Jeamett peas I, __ [GAS MALASIABhd. era = @ Malaysia IGAS MALASIA ENERGY wnstream 2014 lEagle Ford ae JADVANCE Sdn.Bhd_ Service Shale ~ Bang oe 2016 ast Texsas ere = Downstream 2015 ‘ ]GWHAMT women 2
Slide 20: Trends in city gas/electricity switching
Trendsin city gas/electricity switching(published data), Number of customers for city gas retail sales(tokyo gas consolidated) "ETOKYOGAS =| Electricity switchers (based on applications) City gas switchers (based on applications) Monthiy(1,000s) Cumulative(1,000s)__ Monthiy(1,000s) Cumulative(1,000s
Slide 21: Cautionary Statement regarding Forward-looking Statements
"E TOKYO GAS < 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 t