Second quarter 2019 conference call August 1, 2019
Forward looking information and nonGAAP measures This presentation includes certain forward looking information, including future oriented financial information or financial outlook, which is intended to help current and potential…
Russ Girling President & CEO 3
Second quarter 2019 accomplishments Generated strong financial results Comparable earnings were 1.00 per common share Comparable funds generated from operations of 1.7 billion Advanced 32 billion secured capital program Placed 5.6…
Financial highlights Three months ended June 30 (NonGAAP) Comparable Comparable Comparable funds earnings per common share* EBITDA* generated from operations* (Dollars) (Millions) (Millions) 16% increase 17% increase 14% increase…
Natural Gas Pipelines recent developments Canadian Natural Gas Pipelines Advancing 8.8 billion NGTL System expansion program that will add more than 3.0 Bcf/d of delivery capacity Construction continues on the 6.2 billion Coastal…
Liquids Pipelines recent developments Assets continue to produce strong operating results White Spruce pipeline placed inservice Keystone XL continues to advance Received new Presidential Permit in March which supersedes the 2017…
Power and Storage recent developments Napanee Power Plant (900 MW) Commercial operations expected to commence by the end of 2019 Total investment expected to be 1.8 billion Bruce Power Unit 6 Major Component Replacement expected to…
Advancing 32 billion secured capital program through 2023 Estimated Capital Expected Project Invested to Date* Cost* InService Date* Sur de Texas US 1.6 US 1.6 2019 Napanee 1.8 1.7 2019 NGTL System 2.6 2.2 2019 Modernization II…
Dividend growth outlook Annual growth of 8 to 10 per cent through 2021 Supported by expected growth in earnings and cash flow and continued strong coverage ratios * Annual rate based on third quarter dividend declared of 0.75 per…
Key takeaways Proven strategy Low risk business model 95% of comparable EBITDA from regulated assets or longterm contracts Business continued to produce strong results in second quarter 2019 Demand for our services has never been…
Don Marchand Executive VP & CFO 12
Consolidated results of operations (millions of dollars, except per share amounts) Three months Six months ended June 30 ended June 30 2019 2018 2019 2018 Net Income Attributable to Common Shares 1,125 785 2,129 1,519 Specific…
Business segment results(1) (millions of dollars) Three months Six months ended June 30 ended June 30 2019 2018 2019 2018 Comparable EBITDA(2) Canadian Natural Gas Pipelines 528 545 1,084 1,039 U.S. Natural Gas Pipelines 857 704…
Other income statement items(1) (millions of dollars) Three months Six months ended June 30 ended June 30 2019 2018 2019 2018 Comparable EBITDA(2) 2,324 1,991 4,707 4,054 Depreciation and amortization (621) (570) (1,229) (1,105)…
Comparable distributable cash flow (millions of dollars, except per share amounts) Three months Six months ended June 30 ended June 30 2019 2018 2019 2018 Comparable Funds Generated From Operations(1) 1,667 1,459 3,490 3,070…
Funding program continued to advance in second quarter 2019 Strong, predictable and growing cash flow from operations Comparable funds generated from operations of 1.7 billion in the quarter Access to capital markets on compelling…
Funding program outlook 20192021 Billions Numerous levers available to fund Secured Capital Program Strong, predictable and growing cash flow from operations Access to capital markets including: Senior debt Hybrid securities…
Debt maturity profile 20192021 Debt maturities in home currency Total debt maturities of 7.2* billion Billions Canadian equivalent over the three year 3 timeframe Retired 113 million Canadian and 1.15 billion U.S. to date in…
Delivering longterm shareholder value Track Visible Attractive, growing Strong record growth dividend financial position 14% average annual 32 billion secured Dividend raised 8.7% Numerous levers total shareholder to 2023 in…
Question & answer period 21
Second quarter 2019 conference call August 1, 2019
Appendix Reconciliation of nonGAAP measures (millions of dollars) Three months Six months ended June 30 ended June 30 2019 2018 2019 2018 Comparable EBITDA(1) 2,324 1,991 4,707 4,054 Depreciation and amortization (621) (570)…
Appendix Reconciliation of nonGAAP measures continued (millions of dollars) Three months Six months ended June 30 ended June 30 2019 2018 2019 2018 Net Cash Provided by Operations 1,722 1,805 3,671 3,217 Decrease in operating…
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