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Q2 2005 EARNINGS CALL – Altagas Limited

Altagas Limited · Oct 3, 2005 · 12 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. Q2 2005 EARNINGS CALL – Altagas Limited – slide 1
    Financial Overview Second Quarter 2005 October, 2005
  2. Q2 2005 EARNINGS CALL – Altagas Limited – slide 2
    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…
  3. Q2 2005 EARNINGS CALL – Altagas Limited – slide 3
    Net income Second quarter 2005 NET INCOME ( Millions) 19.1 million or 61% increase over Q2-04 35% increase over Q2-04, normalized for one-time conversion costs in Q2-04 70 65.8 60 46.7 million YTD, or 104% increase over 50 46.7…
  4. Q2 2005 EARNINGS CALL – Altagas Limited – slide 4
    Net income per unit Increased monthly distributions NET INCOME PER UNIT () from 0.15 to 0.16 (from 1.80 to 1.92 annualized) 1.40 1.33 Second quarter 2005 1.20 Increase of 40% over Q2-04 1.00 0.84 0.87 YTD increase of 78% over…
  5. Q2 2005 EARNINGS CALL – Altagas Limited – slide 5
    Net revenue by segment Gathering and Processing NET REVENUE BY SEGMENT Acquisition of EEEP ( Millions) Gains related to Taylor investment 255.5 250 Higher operating and administrative 220.3 costs due to growth 200 172.7 Energy…
  6. Q2 2005 EARNINGS CALL – Altagas Limited – slide 6
    EBITDA Second quarter 2005 EBITDA ( Millions) 34.1 million or 23% increase over Q2-04 80.4 million or 36% increase over 140 first half 2004 120 71.2 million or 21% increase over 100 first half 2004 - excluding Q1 gains 80 from…
  7. Q2 2005 EARNINGS CALL – Altagas Limited – slide 7
    Funds from operations Second quarter 2005 FUNDS FROM OPERATIONS ( Millions) 30.4 million or 27% increase over Q2-04 61.5 million YTD or 33% increase 120 over first half 2004 100 Excludes proceeds on disposition of Taylor units…
  8. Q2 2005 EARNINGS CALL – Altagas Limited – slide 8
    2005 financial structure Committed to investment grade DEBT AS A PERCENTAGE OF rating TOTAL CAPITAL * Trust stability rating S&P: SR-3 60% DBRS: STA-3 (middle) Target Range Rating on medium-term notes 50% S&P: BBB- 40% DBRS: BBB…
  9. Q2 2005 EARNINGS CALL – Altagas Limited – slide 9
    Capital expenditures 9.8 million in capital expenditures in Q2-05 6.4 million growth 0.9 million administration 2.5 million maintenance 15.8 million in capital expenditures in first half 2005 10.3 million growth 1.6 million…
  10. Q2 2005 EARNINGS CALL – Altagas Limited – slide 10
    2005 outlook Full-year impacts of late 2004 acquisitions Power pricing: Robust compared to 2004 Favourable pricing on hedged power volumes and spot prices higher Forward market prices for 2006 significantly stronger Growth…
  11. Q2 2005 EARNINGS CALL – Altagas Limited – slide 11
    Opportunities to increase EBITDA Strong industry fundamentals provide opportunities for prudent increases in EBITDA Gathering and Processing Strong exploration and production activity in WCSB supports continued internal growth…
  12. Q2 2005 EARNINGS CALL – Altagas Limited – slide 12

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