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1Q 2019 Earnings Presentation – Enbridge Inc.

Enbridge Inc. · May 10, 2019 · 19 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. 1Q 2019 Earnings Presentation – Enbridge Inc. – slide 1
    Q1 2019: Financial Results & Business Update May 10, 2019 Al Monaco, Chief Executive Officer John Whelen, Chief Financial Officer
  2. 1Q 2019 Earnings Presentation – Enbridge Inc. – slide 2
    Agenda Strategic Position First Quarter Results Business Update Financial Results Continuing Priorities Line 3 Replacement 3 3
  3. 1Q 2019 Earnings Presentation – Enbridge Inc. – slide 3
    Position of Strength ENB Value Proposition Pipeline/utility model Solid operations Consistent financial performance Financial flexibility Streamlined business & structure 4
  4. 1Q 2019 Earnings Presentation – Enbridge Inc. – slide 4
    Q1 2019 Consolidated Financial Results For the 3 months ended Mar 31, millions Adjusted EBITDA DCF Adjusted Earnings 3,769 3,406 1,640 2,758 1,375 2,312 2018 2019 2018 2019 2018 2019 Q1: 1.37/ share 1.37/ share Q1: 0.82/…
  5. 1Q 2019 Earnings Presentation – Enbridge Inc. – slide 5
    Liquids Business Update Operational Update 2019: Additional Mainline Average Mainline Throughput Optimizations (ex-Gretna throughput MMbpd) 2,750 2,717 Edmonton 2,685 2,625 2,636 50- Record Hardisty 2,578 volumes Kerrobert 100…
  6. 1Q 2019 Earnings Presentation – Enbridge Inc. – slide 6
    Liquids Business Update Line 3 Replacement Project Critical energy infrastructure replacement Canadian construction expected to be complete Edmonton by end of May 2019 Hardisty Wisconsin segment complete and in-service Kerrobert…
  7. 1Q 2019 Earnings Presentation – Enbridge Inc. – slide 7
    Liquids Business Update Line 3 Minnesota Permitting Timeline Minnesota Pollution Control Agency (MPCA) 401 Water Quality Certification Timetable TODAY OCT 18 NOV DEC JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Oct 30, 18 Nov 2018…
  8. 1Q 2019 Earnings Presentation – Enbridge Inc. – slide 8
    Liquids Business Update Mainline Contract Offering Design Considerations Incorporating feedback from producers (large & small), integrateds, refiners, marketers Single Transportation Service Agreement (TSA) that fulfills regulatory…
  9. 1Q 2019 Earnings Presentation – Enbridge Inc. – slide 9
    Gas Transmission Business Update Rate Case Proceedings Update Texas Eastern: East Tennessee: Algonquin: Section 4 Rate Case filed Nov 2018 Nearing completion of Section 5 Rate Preparing for early stage rate discussions Potential for…
  10. 1Q 2019 Earnings Presentation – Enbridge Inc. – slide 10
    Gas Transmission Business Update Growth Opportunities W. Canada Northeast & T-North and T-South expansions New England Alliance and Aux Sable expansion Enhance U.S. northeast opportunities connectivity between regional supply and…
  11. 1Q 2019 Earnings Presentation – Enbridge Inc. – slide 11
    Utilities Business Update Operational Update Gas Deliveries (Billions of cubic feet) Utility Amalgamation 7 11% Record 6 distribution OEB allowed ROE Actual ROE Jan & Feb 2019 10% Expected 5 range of Daily Consumption1 Actual…
  12. 1Q 2019 Earnings Presentation – Enbridge Inc. – slide 12
    Utility Growth Outlook Ontario population Growth through Dawn to Parkway system growth forecast community expansions expansion project 18.5 OTTAWA million 14 ON million TORONTO NY DAWN MI HUB Kirkwall Hamilton DETROIT project…
  13. 1Q 2019 Earnings Presentation – Enbridge Inc. – slide 13
    Enterprise-wide Secured Growth Project Inventory Project Expected ISD Capital (B) AOC Lateral Acquisition In-service 0.3 CAD Stratton Ridge 2Q19 0.2 USD Generation Pipeline Acquisition 2H19 0.1 USD 2019 Hohe See Wind &…
  14. 1Q 2019 Earnings Presentation – Enbridge Inc. – slide 14
    Q1 2019 Financial Performance Consolidated Adjusted EBITDA Q1 2019 vs. Q1 2018 Adjusted EBITDA Liquids Pipelines (C Millions, except per share amounts) + Higher throughput and tolls on the Mainline System Q1 2018 Q1 2019 + + Higher…
  15. 1Q 2019 Earnings Presentation – Enbridge Inc. – slide 15
    Q1 2019 Financial Performance Consolidated DCF Q1 2019 vs. Q1 2018 Distributable Cash Flow + Adjusted EBITDA drivers noted in previous slide (C Millions, except per share amounts) Q1 2018 Q1 2019 Higher financing costs reflecting…
  16. 1Q 2019 Earnings Presentation – Enbridge Inc. – slide 16
    Re-affirming 2019 Financial Outlook 2019 Distributable Cash Flow (Consolidated DCF/share ) 1 Q1 STRENGTH Energy Services 4.42 4.30 4.60 Colder weather in Utilities franchise area Q2-Q4 HEADWINDS: 3.68 Line 3 delay Integrity…
  17. 1Q 2019 Earnings Presentation – Enbridge Inc. – slide 17
    Financial Strength & Flexibility Consolidated DEBT to EBITDA1 Enbridge Inc. Sr. Unsecured Debt Ratings2 6.0x 5.5x Standard & Poors BBB+ Target Range: stable 4.5x to comfortably below 5.0x 5.0x Fitch BBB+ stable 4.5x 4.0x DBRS…
  18. 1Q 2019 Earnings Presentation – Enbridge Inc. – slide 18
    Key Priorities for 2019 ENB Value Proposition 1 Achieve 2019 DCF guidance range of 4.30 - 4.60/share 2 Focus on Line 3 Replacement milestones 3 Advance priority access on Mainline 4 Extend secured growth Line 3 Construction 5…
  19. 1Q 2019 Earnings Presentation – Enbridge Inc. – slide 19
    Q&A

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