Forward-looking information Certain information in this presentation is forward-looking. When used in this presentation the words may, would, could, will, intend, plan, anticipate, believe, seek, propose, estimate, expect, and similar…
Trust profile 54.6 million units1 ALA.UN on TSX Current market capitalization 1.6 billion2 Assets: 1.1 billion1 Distributions 16.5 cents/unit/month (1.98/year) 3% increase announced March 1st 6.7% yield2 Average daily…
Strategy Optimize assets and maintain high reliability Organic growth through expansion and extension of current assets and services Pursue value-added acquisitions that add to net income, cash flow and return on equity…
Making connections along the energy value chain Field Gathering and Processing Extraction and Transmission Power Generation Energy Services 5
Diversified integrated energy business Net Book Value EBITDA At December 31, 2005 At December 31, 2005 Field Gathering and Processing 8% 5% Extraction and Transmission 27% 49% Power Generation 28% Energy Services 35% 13%…
AltaGas and the WCSB AltaGas and the WCSB
Field gathering and processing 73 facilities with 997 Mmcf/d of capacity, including 262 Mmcf/d sour gas capacity Moveable facilities 6,000 km of gathering lines Ability to rapidly tie in new wells Interconnected processing…
AltaGas regional utilization Q4-05 W5 W4 W3 British Columbia Alberta Saskatchewan 17% 72% 65% 62% 60% % Utilization W6 Capacity Throughput 9
Extraction and Transmission 539 Mmcf/d extraction inlet capacity, including Albertas newest extraction plant 2005 average production 13,155 Bbls/d ethane and 6,202 Bbls/d NGLs 6 transmission pipelines totalling 750 km 2005…
Power Generation Supplies 6% of Albertas electricity demand Rights to 353 MW coal-fired generation until 2020 25 MW of gas-fired peaking capacity Sells power and ancillary services in Alberta Risk mitigation through power…
Energy Services Energy procurement and consulting services, natural gas transportation and storage optimization to end-use customers 1,243 energy management contracts in 2005 95% contract renewal rate 312,272 GJ/d average…
2005 key indicators millions 2005 Actual 2004 Actual Change Revenue 1,502.3 864.6 74% Net revenue 296.9 250.4 19% EBITDA 155.5 133.4 17% Net income 90.3 65.8 37% Funds from operations 128.2 108.6 18% Distributable cash flow…
Five-year highlights 350 300 250 millions 200 150 100 50 0 2001 2002 2003 2004 2005 Net revenue EBITDA Net income Funds from operations 14
Five-year highlights-per-unit 3.50 3.00 2.50 2.00 1.50 1.00 0.50 0.00 2001 2002 2003 2004 2005 EBITDA Net income Funds from operations 15
2005 financial structure Committed to investment grade Debt as a percentage of rating total capital* Trust stability rating 60% S&P: SR-3 Target Range 50% DBRS: STA-3 (middle) 40% Rating on medium-term notes S&P: BBB- 30% DBRS:…
2005 invested capital Invested capital of 90.2 million in 2005 Growth Field Gathering and Processing Maintenance Extraction and Transmission Energy Services Administration Natural Gas Distribution 4% Corporate 9% 20% 12%…
Payout ratio 61.4% 78.0% 140 120 100 millions 80 60 40 20 0 2004* 2005 Cash distributions Funds from operations * AltaGas converted to a trust structure in May 2004 18
2006 - High single digit growth in earnings Field Gathering and Processing 40+ million on organic growth Optimize and expand current facilities Develop new facilities in areas adjacent to current facilities Expand reach…
2006 - High single digit growth in earnings Energy Services Continue growth in customer base in Ontario, B.C. and Alberta Becoming a national supplier of energy management services Single-digit growth in operating income Power…
2006 acquisition strategy Up to 100 million available for acquisitions over 2006 Disciplined approach to acquisitions in all segments Net income accretive Cash flow accretive Return on equity accretive Maintain low risk…
Premier energy trust Enbridge Income Fort Inter Keyera Pembina Taylor Fund Chicago Pipeline Facilities Pipelines NGL Field Gathering 9 9 and 9 Processing 9 9 9 Extraction 9 9 9 9 9 9 9 9 Transmission Energy 9 9…
Large cap liquid income trust Market Capitalization At March 23, 2006 3 Infrastructure Trusts Energy Related Business Trusts billions 2 1 0 er e r or S o na ra ta r et as io…
AltaGas total return vs. indices Assumes a 100 investment on Dec. 31, 2000 and reinvestment of dividends/distributions 800 700 600 500 400 300 200 100 0 Dec. 31 2000 Dec. 31 2001 Dec. 31 2002 Dec. 31 2003 Dec. 31…
Investment highlights Demonstrated track record of growth and value creation Over last 5 years, total return of 700% We expect growth - and have the balance sheet to support it Well-positioned to create and enhance unitholder…
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