ALTAGAS 10 Years of Extraordinary Growth Third Quarter 2004 Update November, 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…
Q3 Highlights Acquired a 48 2/3 percent interest in the Edmonton ethane extraction plant for approximately 42.1 million Entered into a capital lease for the right to 25 megawatts of gas fired power peaking capacity Tied in 333 wells…
Q3 Highlights David Cornhill announced decision to step down as CEO in 2006 will stay on as Chairman of the Board will continue to hold a significant investment in AltaGas Enbridge sold its 36 percent interest in AltaGas at an…
Net Income NET INCOME Third quarter ( Millions) 17.1 million in 2004, 85.9% increase over 2003 40 Full quarter of operating as an income trust 30 First nine months 40.0 million in 2004, 52.1% 20 increase over 2003 10…
Net Income Per Unit NET INCOME PER UNIT Net Income Per Unit () Q3 2004 up 65.0% over Q3 2003 1.00 First nine months 2004 up 0.90 43.1% over same period 2003 0.80 0.70 0.60 0.50 0.40 0.30 0.20 0.10 0.00 2001 2002 2003…
Seasonality with Consistent Growth NET INCOME BY QUARTER Q3 2004 is strongest Q3 in ( Millions) AltaGas history Q4 historically the strongest 18 quarter 15 On track for another record 12 year 9 6 3 0 Q1 Q2 Q3 Q4 2002 7.6…
Net Revenue NET REVENUE Third quarter ( Millions) 61.5 million in 2004, 15.4% increase over 2003 220 200 First nine months 180 178.2 million in 2004, 160 140 12.1% increase over 2003 120 100 80 60 40 20 0 2001 2002 2003…
Net Revenue by Segment NET REVENUE BY SEGMENT Gathering and Processing ( Millions) Increased volumes in all components Acquisitions and expansions 200 Energy Services 150 Genesee energy contract 100 Higher power prices 50…
EBITDA EBITDA Third quarter ( Millions) 33.8 million in 2004, 17.0% increase over 2003 100 First nine months 80 92.8 million in 2004, 6.7% increase over 2003 60 40 20 0 2001 2002 2003 2003 2004 Q3 28.9 33.8 Q2 27.4 27.8…
Funds from Operations FUNDS FROM OPERATIONS Third quarter ( Millions) 28.5 million in 2004, 36.4% increase over 2003 100 First nine months 80 74.7 million in 2004, 17.5% increase over 2003 60 40 20 0 2001 2002 2003 2003…
Capital Expenditures 75.8 million in capital expenditures in first nine months of 2004 68.5 million growth capital (includes 13.8 million capital lease) 4.3 million maintenance capital 3.0 million administration capital Additional…
2004 Financial Structure Trust stability rating DEBT AS A PERCENTAGE OF S&P: SR-3 TOTAL CAPITAL DBRS: STA-3 (middle) 60% Rating on medium term notes S&P: BBB- 50% Target Range DBRS: BBB(low) 40% Capital structure 30% September 30,…
2004 Opportunities - Gathering and Processing GAS WELL COMPLETIONS Internal growth with low investment IN THE WCSB 7.9 million spent in the field gathering and processing component in the first nine months of 2004 16,000 numerous…
2004 Opportunities - Energy Services POWER PRICE RECEIVED Power Services COMPARED TO POWER POOL 478 MW of long term PRICE (/MWh) conservatively priced power supply includes 25 MW of gas fired power peaking capacity as of September…
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…
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 Third Quarter 2004 Update November, 2004
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