financial results for half year ended 31 December 2018. 20 February 2019
results overview and strategic results overview and highlights strategic highlights Mick McCormack Managing Director and CEO. 3
1H FY2019 highlights million 1H FY19 1H FY18 change Revenue excluding pass-through(1) 1,012.9 954.7 Up 6.1% EBITDA 787.7 755.3 Up 4.3% Net profit after tax 157.4 124.0 Up 27.0% Operating cash flow(2) 470.2 462.5 Up 1.7%…
results overview Solid interim results delivered New revenue generating assets On track to deliver FY2019 EBITDA within upper end of guidance range Growth capex spend on committed projects of 261.4m and on track to reach 425m for…
record capex program 1.4 b plus nearing completion FY2017 FY2019 Darwin WPP BGP Yamarna Gas Pipeline & Reedy Creek Wallumbilla Pipeline AGP Gruyere Power Station - commissioned May 18 - gas pipeline commissioned FY2018 TGP…
1H FY19 result: EBITDA by business segment million 1H FY19 1H FY18 Change Energy Infrastructure Queensland 511.6 474.0 7.9% New South Wales 75.4 71.8 5.0% Victoria & South Australia 68.8 71.5 (3.8%) Northern Territory 10.8…
1H FY19 EBITDA bridge Energy Infrastructure 820.0 (2.7) (1) 8.6 1.1 (14.1) 15.4 (7.2) 1.8 800.0 787.7 15.8 780.0 13.8 760.0 755.3 740.0 720.0 700.0 Notes: (1) Includes 11.3 million of costs associated with the…
low risk business model Solid risk management processes in place Continue to manage counterparty risks by: Diversification of customers and industry exposures Assessment of counterparty creditworthiness Entering into long term…
energy infrastructure contracting Number of renewed firm service contracts Recontracting ongoing: 20 Since the GMRG reforms (1 Aug 2017) were introduced, APA has entered into 120 contracts or 15 variations across all transmission…
capital expenditure and investment cash flows million 1H FY19 1H FY18 Growth capex A m 400 Regulated Victoria 14.0 22.4 Acquisitions 330.4 & other Non-regulated 320.8 295.7 investment East Coast Grid 104.3 78.9 300 Western…
capital management Cash and committed undrawn facilities of around 1,220 million as at 31 December 2018 to meet the continuing needs of the business Credit ratings: S&P BBB (outlook Stable, confirmed Nov 2018), Moodys Baa2 (outlook…
debt maturity profile APA maintains diversity of funding sources and spread of maturities (1) 1,600m Headroom (bank borrowings) 1,400m Bank borrowings 1,200m Sterling MTN Euro MTN 1,000m US 144A Notes 800m Canadian…
fully covered distributions Distribution payout ratio(1) of 53.4% Franking Credits Distribution components: Franking credits of 3.2 cents per 7.47 cents APT franked profit distribution security allocated to the interim APT 2.03…
FY2019 guidance Based on current operating plans and available information, EBITDA for FY2019 is expected to be within the upper end of the guidance range of 1,550 million to 1,575 million Net interest costs for FY2019 expected to…
outlook results overview and strategic highlights Mick McCormack Managing Director and CEO. 19
customers & consumers front and centre APAs Customer Promise APAs top 20 transmission customers surveyed Our vision: Together, deliver energy for a better Australia. Improving the customer experience is an ongoing focus First…
North America - exploring opportunities In FY17, APA advised the market that we were exploring opportunities in North America as part of APAs long term growth strategy US Houston office opened in August 2017 with 2 full-time…
APAs uniquely integrated energy assets Assets and Investments Glossary Darwin AGPGLOS Amadeus Gas Pipeline WPP AL Agnew Lateral 830 PJ BGP Bonaparte Gas Pipeline BGP BWSF Badgingarra Wind and Solar Farms BWP Berwyndale Wallumbilla…
supplementary information. 23
snapshot of APA Australian gas transmission pipeline ownership by kilometres APA Overview (Ticker: APA AU) APA is Australias largest gas pipeline owner Market cap A11.1 billion (as at 19 Feb 2019) Jemena 2,349 km ASX rank S&P/ASX…
group structure APA is a stapled structure comprising two registered managed investment schemes: Australian Pipeline Trust (ARSN 091 678 778) APT Investment Trust (ARSN 115 585 441) is a pass-through trust Australian Pipeline…
Victorian Transmission System SESA Pipeline and other SA assets Amadeus Gas Pipeline Goldfields Gas Pipeline Eastern Goldfields Pipeline Emu Downs Wind Pilbara Pipeline System Mondarra Gas Storage 1H FY19 operational summary Energy…
historical normalised EBITDA by asset Energy Infrastructure millions FY15 FY16 FY17 FY18 1H FY18 1H FY19 East Coast Grid Wallumbilla Gladstone Pipeline 35.8 475.2 488.0 515.9 250.8 276.8 South West Queensland Pipeline 188.3 240.3…
1H FY19 operational summary Asset Management and Energy Investments Asset Management EBITDA A 30 m Asset Management One-off Customer Main customers: Australian Gas Networks, Energy Contributions 20 Infrastructure Investments and…
Corporate costs Corporate costs have been steady, despite APAs record growth period A m 1,000 10% 800 8% 600 6% (1) (2) 400 4% 200 2% 0 0% 1H FY14 1H FY15 1H FY16 1H FY17 1H FY18 1H FY19 Corporate costs…
continued growth momentum Normalised EBITDA Normalised operating cash flow Total assets Distributions 30
debt facilities Total committed debt facilities at 31 December 2018 million Facility Drawn Tenor amount amount 2015, 2016, 2017 & 2018 Bilateral 550 100 2 to 4.6 year facilities maturing between May 2019 to July 2022 bank…
regulatory update Approximately 9.4% of APAs Energy Infrastructure revenues in 1H FY2019 was regulated revenue APAs major regulatory resets over the next few years are as follows: Central Ranges Pipeline and Network will cease to…
economic regulation of gas pipelines and networks Regulator The Australian Energy Regulator (AER) is responsible for the economic regulation of gas transmission and distribution networks and enforcing the National Gas Law and National…
Wallumbilla Gladstone Pipeline 556 kilometres of transmission pipeline acquired in 2015, servicing QCLNG export facility Fully contracted revenue through to 2035, derived through take-or-pay GTAs with foundation shippers (BG Group &…
Orbost Gas Processing Plant December 2017 plant will process up to 68 TJ per day of gas from the offshore Sole gas field from mid- 2019 construction upgrade completion expected in Q3 CY2019 new source of gas supply for eastern…
For further information contact: Jennifer Blake Group Head of Investor Relations T: +61 2 9693 0097 M: +61 455 071 006 E: jennifer.blakeapa.com.au Or visit the APA website at: www.apa.com.au 36
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