AltaGas Investor Presentation: Focus on Execution June 2019
Our Strategy We leverage the strength of our assets and expertise along the energy value chain to connect customers with premier energy solutions from the wellsites of upstream producers to the doorsteps of homes and businesses, to…
Highlights (CAD unless otherwise noted) 5.2B 1.2-1.3B US 3.7B 0.7Bcf/d Market Cap 2019e EBITDA Utility Gas Processing Rate Base Capacity 1 Non-GAAP measure; see discussion in the advisories 4
Low-Risk, High-Growth Utility and Midstream Company Steady and predicable Utility business and high growth integrated Midstream assets provide a strong foundation to deliver attractive risk adjusted returns Opportunity-Rich…
Near-Term Financial Priorities Priorities Progress Actions Execute remaining Additional 1.5 - 2.0 billion asset sale program progressing as planned 1.5 2.0 billion of US 275.3 million Stonewall sale non-core asset sales De-lever the…
Near-Term Operational Priorities Priorities Progress Actions First cargo out of Construction complete and operational phase initiated RIPET early Q2 2019 Introducing feedstock to fill the LPG tank First Cargo in Q2 2019 Capitalize on…
Q1 Financial Results Summary (CAD unless otherwise noted) 466M 376M 202M 0.73 1.7B Normalized Normalized Normalized Normalized Reduction in EBITDA1 FFO1 Net Income1 Net Income Per Net Debt1 Share1 1 Non-GAAP measure; see…
U.S. Utilities Provide Stable and Predictable Returns Economically strong and high-growth jurisdictions: District of Columbia, Maryland, Virginia, Michigan and Alaska Low-risk, growing cash flows Rate Base ( billions) US3.7…
Premier Midstream Business Connecting Canadian Producers to Global Markets Fully integrated midstream offering leveraging the entire value chain and Canadas first propane export terminal Montney Basin Key Assets: Strategic…
Balanced Funding Plan Strengthening the Cost of Capital 11
2019 Balanced Funding Plan Priorities Regain financial strength and flexibility to efficiently fund growth Financial Optimize cost Maintain capital Recapture flexibility + of capital + discipline = share value Accelerate…
Capital Allocation Focused on Near-Term Returns 1.3 Billion Top-Quality Projects Identified Projects: System betterment across all Utilities 2% Accelerated pipe Mountain replacement Valley 9% programs in Pipeline Michigan,…
Funding Plan Progressing as Planned with Agreement to Sell Stonewall Interest 2019 Sources and Uses ( millions) 4,900 4,900 Hybrids & Preferreds1 Balanced funding plan eliminates the need 660 for near-term common equity and…
De-lever the Balance Sheet 1.7 billion reduction in net debt in Q1 2019 Net Debt1 ( billions) 3 billion 2019 Plan Supports in debt repayment Lower debt and stronger balance sheet 10.1 Retained cash flow net Improving…
2019 Outlook - Seasonality Profile by Segment 2019 EBITDA1 Illustrative Seasonality Profile2,3 Utilities Midstream Power % % % Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 1 Non-GAAP financial measure; see discussion in the…
2019 Outlook Unchanged Segmented EBITDA 2019 EBITDA1 Guidance ( millions) Normalized 2019 % of Segmented EBITDA 2019e EBITDA Growth Drivers + Full year of WGL Utilities 650 - 700 51% + Utility capital and rate base growth + Full…
2019 Outlook Unchanged UAFFO 2019 Guidance ( millions) FFO 2019e Maintenance Capital 2019e Normalized EBITDA1 1,200 - 1,300 Midstream Maintenance Capital 14MM Cash Interest (330) - (340) Other2 15 - 25 Power Maintenance Capital…
Midstream and Utilities: Additional Information 21
Midstream Segment 22
RIPET: Canadas First West Coast Propane Export Terminal Improving western Canadian producers netbacks by providing access to premium Asian markets Attracts additional volumes through AltaGas midstream value chain, maximizing…
Integrated Service Offering with Access to Global Markets Increasing returns along the integrated value chain Gas Processing & 9X 10X Gathering Field Fractionation, Liquids Handling Storage and Rail CUMULATIVE CAPEX PER Loading…
RIPET Netback Advantage RIPET provides enhanced netbacks to producers At current propane prices1 RIPET advantage is estimated at US5.25/bbl Alberta3 RIPET Advantage (US/bbl) US 16.60/bbl 2019 FWD AFEI1 39.45 Transport &…
Initial Investment in Montney Midstream Assets Sets the Stage for Significant Organic EBITDA Growth Opportunities Montney Operating Capacity Canadian Midstream Normalized EBITDA1 800 24,000 ( millions) BASE GAS PROCESSING TOWNSEND GAS…
Utilities Segment 27
2019: Drive Operational Excellence at the Utilities Focus on accelerated replacement capital will support rate base growth and drive earnings growth 2019 Focus Prudently allocate capital based on infrastructure needs and returns…
Maryland Rate Case Focused on Timely Recovery of Capital Details Addresses rate relief necessary to recover costs of providing safe, reliable natural gas service; continue delivering improved service to customers and earn New rates…
Michigan Growth Opportunity Marquette Connector Pipeline (MCP) Proposed pipeline will connect the Great Lakes Gas Transmission pipeline to the Northern Gas pipeline in Marquette, Michigan Provides system redundancy and increase…
AltaGas Investor Presentation: Focus on Execution May 2019
Loading...
