ALTAGAS 10 Years of Extraordinary Growth Second Quarter 2004 Update September, 2004
Forward-Looking Information Certain information in this presentation is forward-looking. Such information is subject to certain risks, uncertainties and assumptions that could cause actual results to differ materially from those…
Q2 Financial Highlights Converted from corporate structure to AltaGas Income Trust on May 1, 2004 Commenced monthly cash distributions of 0.15 per unit Successfully closed public offering of 4,730,000 trust units at 18.70 for gross…
Q2 Operational Highlights Tied in 253 wells in the first half of 2004 compared to 147 well tie-ins during the first half of 2003 Entered into agreement to acquire PremStar Energy Canada Ltd. and its subsidiaries, a leading energy…
Financial Highlights NET INCOME PER UNIT Net Income Per Unit () Q2 2004 up 66.7% over Q2 2003 First six months 2004 up 1.00 28.9% over same period 2003 0.90 0.80 0.70 Q2/04 absorbed one time 0.60 costs 0.50 3.5 million in…
Net Revenue NET REVENUE Second quarter ( Millions) 59.5 million in 2004, 16.2% increase over 2003 220 200 First six months 180 116.7 million in 2004, 160 10.5% increase over 2003 140 120 100 80 60 40 20 0 2001 2002 2003…
Net Revenue by Segment NET REVENUE BY SEGMENT Gathering and Processing ( Millions) Increased throughput in field gathering and processing, extraction and transmission 200 Acquisitions and expansions 150 Energy Services Genesee…
Funds from Operations FUNDS FROM OPERATIONS Second quarter ( Millions) 23.9 million in 2004, 14.9% increase over 2003 100 First six months 80 45.5 million in 2004, 6.6% increase over 2003 60 40 20 0 2001 2002 2003 2003…
Net Income NET INCOME Second quarter ( Millions) 11.9 million in 2004, 75.0% increase over 2003 40 First six months 22.9 million in 2004, 34.7% 30 increase over 2003 20 Two months of operating as an income trust 10 0 2001…
Seasonality with Consistent Growth NET INCOME BY QUARTER Q2 2004 is strongest Q2 in ( Millions) AltaGas history On track for another record 12 year 9 Expect each quarter to surpass last year 6 3 0 Q1 Q2 Q3 Q4 2002 7.6…
2004 Financial Structure Trust stability rating DEBT AS A PERCENTAGE OF S&P: In process TOTAL CAPITAL DBRS: STA-3 (middle) 60% Reaffirmed investment grade rating on medium term notes 50% Target Range S&P: BBB- 40% DBRS: BBB(low)…
2004 Opportunities - Gathering and Processing GAS WELL COMPLETIONS Internal growth with low investment IN THE WCSB numerous plant expansions underway or anticipated 16,000 Strong E&P activity 14,000 tied in 253 wells in first half…
2004 Opportunities - Energy Services POWER PRICE RECEIVED Power Services COMPARED TO POWER POOL 478 MW of long term PRICE (/MWh) conservatively priced power supply including 25 MW of gas fired power peaking capacity 90 80…
2004 Opportunities Natural Gas Distribution Expansion of existing franchise NUMBER OF GAS DISTRIBUTION customer base CUSTOMERS (AUI) customer base increasing on average by 2% per year 60,000 continue to see healthy growth 55,000…
2004 Outlook Expect growth to continue Gathering and Processing ahead of 2003 producers active, significant well tie-in activity impact of acquisitions and expansions Energy Services ahead of 2003 power pricing and operations…
ALTAGAS 10 Years of Extraordinary Growth Second Quarter 2004 Update September, 2004
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