Tokyo Gas Co., Ltd. · TSE:9531
Tokyo Gas — FY2019 2Q Earnings Presentation
24 slides from Tokyo Gas's earnings presentation, Oct 30, 2019
Slide 1: FY2019 2Q Financial Results ended September, 2019
TSE:9531 FY2019 2Q Financial Results ended September, 2019 October 30, 2019 0
Slide 2: 1. FY2019 Consolidated Financial Results
1. FY2019 Consolidated Financial Results ended September, 2019 1
Slide 3: FY2019 2Q Consolidated Results vs. FY2018 2Q
FY2019 2Q Consolidated Results (Apr. 1, 2019 – Sep. 30, 2019) <vs. FY2018 2Q> Highlights: Sales Up, Profit Up ( + - ,+/- indicate impact on profit, billion yen) Net sales +78.1 : + Gas (+48.1: Increase in city gas unit price due to resource cost adjustment +23.1, decrease in city gas sales volume -6
Slide 4: FY2019 2Q Consolidated Gas Sales Volume/Number of Customers
FY2019 2Q Consolidated Gas Sales Volume/ Number of Customers <vs. FY2018 2Q> City Gas sales volume： *Each value is rounded. -115mil.㎥ (-1.7%) (mil. ㎥) [including temperature effect +73mil.㎥, +1.1%] 8,000 ■Residential +51mil.㎥(+4.4%) ●Temperature effect +93 mil.㎥ [6,707] [6,822] ●Number of days +1 mi
Slide 5: FY2019 2Q Consolidated Electricity Sales Volume/Number of Customers
FY2019 2Q Consolidated Electricity Sales Volume/ Number of Customers <vs. FY2018 2Q> Electricity sales volume： New electricity retail customers won by Tokyo Gas +1,973mil. kWh (+ 27.6%) ■Retailing + 949 mil. kWh(+33.2%) ■Wholesale etc. + 1,023 mil. kWh(+23.9%) (mil kWh) Quarter (1,000s) Cumulative (
Slide 6: FY2019 2Q Results: Sales and Profit/Loss by Business Segments
FY2019 2Q Results : Sales and Profit/Loss by Business Segments ＜vs. FY2018 2Q ＞ (unit : billion yen) Segment Profit Net sales (Operating profit + Equity income/loss of subsidiary) FY2019 FY2018 FY2019 FY2018 2Q 2Q Change ％ 2Q 2Q Change ％ Results Results Results Results Gas 639.6 591.5 48.1 8.1 47.1
Slide 7: FY2019 2Q Results: Ordinary Profit Analysis
FY2019 2Q Results: Ordinary Profit Analysis <vs. FY2018 2Q> (Unit: billion yen) City gas +¥23.7bn Gas ・ Increase in gross margin +¥28.6bn: Change in sales volume -1.2 (incl. change due to +¥25.2bn temp. effect +6.6), sliding time lag effect +22.0, third-party access revenue +6.3, etc. (+114.4%) (N
Slide 8: 2. FY2019 Full Year Forecast
2. FY2019 Full Year Forecast Previous forecast (as of 1Q) unchanged from original forecast (released April 26) 7
Slide 9: FY2019 Consolidated Forecast vs. Previous Forecast
FY2019 Consolidated Forecast (Apr. 1, 2019 – Mar. 31, 2020) <vs. FY2019 Previous Forecast> Highlights: Sales Down, Profit Down(vs. previous forecast) (+ - , +/- indicate impact on profit, billion yen) Net sales - Gas (-50.1: -48.0 : Decrease in unit price of city gas arising from economic framework
Slide 10: FY2019 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. Previous Forecast [14,293] [14,541] [15,198] -248 mil ㎥ (-1.7%) Residential [Including temperature effect -8mil. ㎥, -0.1
Slide 11: FY2019 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. Previous Forecast FY2019 Previous FY2018 +116 mil kWh (+0.6%) Change Change Forecast forecast Results VS. FY2018 Results Number of retail custome
Slide 12: FY2019 Full Year Forecast: Sales and Profit/Loss by Business Segments
FY2019 Full Year Forecast: Sales and Profit/Loss by Business Segments ＜vs. FY2019 Previous Forecast ＞ (unit : billion yen) Segment Profit Net sales (Operating profit + Equity income/loss of subsidiary) FY2019 Previous ％ FY2019 Previous ％ Forecast Forecast Change Forecast Forecast Change Gas 1,412.1
Slide 13: FY2019 Forecast: Ordinary Profit Analysis vs. Previous Forecast
FY2019 Forecast: Ordinary Profit Analysis <vs. FY2019 Previous Forecast> (Unit: billion yen) Gas City gas -¥11.7bn -¥13.1bn ・ Decrease in gross margin -¥13.1bn: Sliding time lag effect -10.2, change in sales (-10.7%) volume, etc. -2.9 (incl. change due to temp. effect -0.2) (Net sales) -¥38.6bn: Sl
Slide 14: FY2019 Full Year Forecast: Sales and Profit/Loss by Business Segments vs. FY2018
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 1,412.1 1,413.7 -1.6 -0.
Slide 15: FY2019 Forecast: Ordinary Profit Analysis vs. FY2018 Results
FY2019 Forecast: Ordinary Profit Analysis <vs. FY2018 Results> (Unit: billion yen) Gas City gas +¥15.2bn ・ Increase in gross margin +¥28.9bn: Sliding time lag effect +20.0, change in sales +¥16.8bn volume, etc. +8.9 (incl. change due to temp. effect +13.9) (+18.2%) (Net sales) -¥56.4bn: Sliding ti
Slide 16: FY2019 Uses of Cash Flow (Capex, Investment and financing)
FY2019 Uses of Cash Flow（Capex , Investment and financing） (Unit: billion yen) Previous FY2018 Forecast Main Items Change ％ Change ％ Forecast Results Capital Expenditure Production facilities : 12.0（- 2.0） Hitachi LNG terminal expansion, etc. Distribution facilities : 111.3（+5.1） Gas 190.7 191.4 -0.
Slide 17: Key Indicators (Consolidated)
Key Indicators (Consolidated) (Unit: billion yen) FY2019 FY2018 FY2017 Forecast Results Results Total assets (a) 2,589.0 2,428.1 2,334.3 Shareholders’ equity (b) 1,183.0 1,159.0 1,136.0 Shareholders’ equity ratio (b)/(a) 45.7% 47.7% 48.7% Interest-bearing debt (c) 920.0 803.2 724.9 D/E ratio (c)/(b)
Slide 18: 3. Reference Materials
3. Reference Materials "TOKYO GAS
Slide 19: 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 $1/bbl (Unit: billion yen) Impact on earnings 3Q 4Q Full year 3Q -0.3 -1.2 -1.5 Period 4Q ― -0.2 -0.2 Full year -0.3 -1.4 -1.7 Impact of depreciation by ¥1/$ (Unit: billion yen) Impact on earnings 3Q
Slide 20: Key Topics in FY2019 (Excerpted from Press Releases up to 30th October)
Key Topics in FY2019 (Excerpted from Press Releases up to 30th October) Management ・Tokyo Gas Group Initiatives in FY2019 to Achieve GPS2020 (Apr.10) Strategy ・Tokyo Gas executes a HOA with Shell Eastern Trading for the supply of LNG（Apr.5） ･Participation in real-world trial to develop virtual power
Slide 21: Key Topics in FY2019 (Excerpted from Press Releases up to 30th October)
Key Topics in FY2019 (Excerpted from Press Releases up to 30th October) Digital ・ Investment in Next Energy & Resources and joint development of IoT platform for coordinated control of distributed energy appliances Innovations to further enhance services and expand use of renewables (Jul.3) ・Announc
Slide 22: Overseas Projects
Overseas Projects 1 4 2 3 5 6 7 Participation 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 ga
Slide 23: 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 24: 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