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YTD 9M 2014 FINANCIAL AND OPERATING RESULTS – Energy Development Corp.

Energy Development Corp. · Nov 25, 2014 · 23 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. YTD 9M 2014 FINANCIAL AND OPERATING RESULTS – Energy Development Corp. – slide 1
    SHAREHOLDERS UPDATE YTD 9M 2014 FINANCIAL AND OPERATING RESULTS
  2. YTD 9M 2014 FINANCIAL AND OPERATING RESULTS – Energy Development Corp. – slide 2
    TABLE OF CONTENTS Page 1 YTD 9M 2014 Financial Highlights 4 18 2 Growth Projects 19 21 3 Stock Performance Snapshot 22 24
  3. YTD 9M 2014 FINANCIAL AND OPERATING RESULTS – Energy Development Corp. – slide 3
    Shareholders Update YTD 9M 2014 Consolidated Recurring Net Income (RNI) increased mainly due to Bacman and Nasulo revenues, partially offset by higher operating expenses Net Income (P Million) Bacmans revenues increased by P2.1 B,…
  4. YTD 9M 2014 FINANCIAL AND OPERATING RESULTS – Energy Development Corp. – slide 4
    Shareholders Update YTD 9M 2014 Consolidated Revenues increased mainly due to higher contributions from the commissioning of Bacman and Nasulo Revenues plants (P Million) Bacmans revenues increased by P2.1 B, due to the commercial…
  5. YTD 9M 2014 FINANCIAL AND OPERATING RESULTS – Energy Development Corp. – slide 5
    Shareholders Update YTD 9M 2014 Consolidated Electricity Revenues increased, mainly due to higher tariff and sales volume Ave. Tariff Volume increased by 8.2%, or P1.6 B in higher revenues. (P/KWh) 7.3% Average tariff increased…
  6. YTD 9M 2014 FINANCIAL AND OPERATING RESULTS – Energy Development Corp. – slide 6
    Shareholders Update YTD 9M 2014 EBITDA (P Million) Consolidated EBITDA increased due to higher revenues, 12.7% partially offset by higher operating expenses 14,275 Revenues increased by P3.2 B mainly due to the commercial…
  7. YTD 9M 2014 FINANCIAL AND OPERATING RESULTS – Energy Development Corp. – slide 7
    Shareholders Update YTD 9M 2014 GCGIs revenues increased due mainly to higher average tariff Average tariff increased by 6.3%, or P0.5 B in higher revenues. Ave. Tariff (P/KWh) Volume decreased by 1.2% , or P0.1 B in lower…
  8. YTD 9M 2014 FINANCIAL AND OPERATING RESULTS – Energy Development Corp. – slide 8
    Shareholders Update YTD 9M 2014 Tongonan I revenues increased due to higher average tariff Average tariff increased by 8.6%, or P0.27 B in additional revenues. Ave. Tariff (P/KWh) Volume increased by 1.2%, or P0.05 B in additional…
  9. YTD 9M 2014 FINANCIAL AND OPERATING RESULTS – Energy Development Corp. – slide 9
    Shareholders Update YTD 9M 2014 Palinpinon I & II revenues increased due to higher average tariff Average tariff increased by 4.8%, or P0.25 B in higher revenues. Ave. Tariff (P/KWh) Volume decreased by 2.8%, or P0.15 B in lower…
  10. YTD 9M 2014 FINANCIAL AND OPERATING RESULTS – Energy Development Corp. – slide 10
    Shareholders Update YTD 9M 2014 FG Hydro revenues declined mainly due to ERC mandated re- computation of Nov. and Dec. 2013 billings Ave. Tariff (P/KWh) Revenues from bilateral contracts increased by P0.53 B mainly due to higher…
  11. YTD 9M 2014 FINANCIAL AND OPERATING RESULTS – Energy Development Corp. – slide 11
    Shareholders Update YTD 9M 2014 Unified Leyte revenues slightly increased due to higher average tariff Average tariff increased by 4.7%, translating to P0.37 B in additional revenues Ave. Tariff (P/KWh) Volume decreased by 2.9%,…
  12. YTD 9M 2014 FINANCIAL AND OPERATING RESULTS – Energy Development Corp. – slide 12
    Shareholders Update YTD 9M 2014 Mindanao I & II revenues increased primarily due to higher volume and average tariff and the absence of adjustments covering FY 2013 Ave. Tariff revenues. (P/KWh) Volume increased by 13.4%, or P0.19…
  13. YTD 9M 2014 FINANCIAL AND OPERATING RESULTS – Energy Development Corp. – slide 13
    Shareholders Update YTD 9M 2014 Bacman revenues increased after Units 1, 2 & 3 declared commercial operations Ave. Tariff Units 1 & 2 and Unit 3 contributed P1.5 B M and P0.56 B in revenues, (P/KWh) respectively 5.07 5.19…
  14. YTD 9M 2014 FINANCIAL AND OPERATING RESULTS – Energy Development Corp. – slide 14
    Shareholders Update YTD 9M 2014 Total Assets Cash and Cash Equivalents 9M' 2014 104,377 9M' 2014 13,567 9M' 2013 119,711 9M' 2013 18,159 Total Debt Total Equity 9M' 2014 64,511 9M' 2014 36,524 9M' 2013 55,939 9M'…
  15. YTD 9M 2014 FINANCIAL AND OPERATING RESULTS – Energy Development Corp. – slide 15
    Shareholders Update YTD 9M 2014 EDC MANAGES ITS FINANCIAL RISKS DELIBERATELY Debt Maturity Profile1 Loans by Structure2 350 300 Floating 250 296 200 21% 150 USD Debt 100 PHP Debt 50 USD1,437 - 2014 2015 2016 2017 2018…
  16. YTD 9M 2014 FINANCIAL AND OPERATING RESULTS – Energy Development Corp. – slide 16
    Shareholders Update YTD 9M 2014 Current Ratio Debt-to-Equity 9M' 2014 1.45 9M' 2014 1.40 9M' 2013 1.53 9M' 2013 2.48 2.3 1.0 Current ratio decreased due to lower cash balance Debt-to-equity ratio improved due to equity…
  17. YTD 9M 2014 FINANCIAL AND OPERATING RESULTS – Energy Development Corp. – slide 17
    Shareholders Update YTD 9M 2014 Holders of common shares are entitled to receive annual cash Dividends on Common Shares dividends at or about 30% of PHP Million the prior years recurring net 3,500 income based on the…
  18. YTD 9M 2014 FINANCIAL AND OPERATING RESULTS – Energy Development Corp. – slide 18
    Shareholders Update YTD 9M 2014 Unit 1 2nd Toshiba unit is already in country on track for installation by 1Q 2015 Unit 2 Installation of the brand new Toshiba steam turbine rotor has been completed Bacman last Sept. 22, 2014 Unit…
  19. YTD 9M 2014 FINANCIAL AND OPERATING RESULTS – Energy Development Corp. – slide 19
    Shareholders Update YTD 9M 2014 NNGP TO BACMAN BURGOS WIND NASULO (N2N) REHABILITATION The 150 MW Burgos wind energy project Nasulo (+ existing Nasuji site) has UNIT 1 is located in the Municipality of Burgos, combined available…
  20. YTD 9M 2014 FINANCIAL AND OPERATING RESULTS – Energy Development Corp. – slide 20
    Shareholders Update YTD 9M 2014 CHILE PERU INDONESIA Established local office Established local office Established local office Executed a Shareholders Agreement for Executed Share Sale Agreement with Recently incorporated two…
  21. YTD 9M 2014 FINANCIAL AND OPERATING RESULTS – Energy Development Corp. – slide 21
    Shareholders Update YTD 9M 2014 Snapshot Average Daily Trading Value Share Price (Php) Share Price (Php) 8.09 Php M US M 5 Day Moving Average 7.62 Common Shares Outstanding 18,750,000,000 Last 5 Days 392.4 8.8 30 Day Moving Average…
  22. YTD 9M 2014 FINANCIAL AND OPERATING RESULTS – Energy Development Corp. – slide 22
    Shareholders Update YTD 9M 2014 2014 2014 2014 NI EPS P/E Broker Remarks (millions) (Php/sh) (times) COL Nov-14 Downgrades to Hold with PT of P8.20. Currently reviewing earnings and FV estimates in light of better HOLD than…
  23. YTD 9M 2014 FINANCIAL AND OPERATING RESULTS – Energy Development Corp. – slide 23
    Shareholders Update YTD 9M 2014 2014 2014 2014 NI EPS P/E Broker Remarks (millions) (Php/sh) (times) Upgrades Hold rating to Buy and increases PT from P6.40 to P8.35, removing the discount (15%) DB Aug-14 previosuly applied to…

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