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3Q 2019 Earnings Presentation – Enbridge Inc.

Enbridge Inc. · Nov 8, 2019 · 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. 3Q 2019 Earnings Presentation – Enbridge Inc. – slide 1
    Q3 2019: Financial Results & Business Update November 8, 2019 Al Monaco, Chief Executive Officer Colin Gruending, Chief Financial Officer
  2. 3Q 2019 Earnings Presentation – Enbridge Inc. – slide 2
    Executive Leadership Changes Guy Jarvis Vern Yu Retiring - EVP Liquids Pipelines EVP Liquids Pipelines 3
  3. 3Q 2019 Earnings Presentation – Enbridge Inc. – slide 3
    Q3 Highlights Delivering Record Q3 EBITDA strong financial Expect to exceed the mid-point of 2019 DCF/share guidance range results Received 0.4B asset sales proceeds; 4.6x Debt:EBITDA Optimizing Advancing 100 kbpd Mainline…
  4. 3Q 2019 Earnings Presentation – Enbridge Inc. – slide 4
    Q3 2019 Financial Results Summary For the 3 and 9 months ended Sep 30, millions Adjusted EBITDA Adjusted Earnings Distributable Cash Flow 3,108 Q3 2,958 1,124 Q3 2,105 Q3 933 1,585 3,208 Q2 1,349 Q2 Q2 3,165 2,310 1,094 1,858…
  5. 3Q 2019 Earnings Presentation – Enbridge Inc. – slide 5
    Liquids Business Update Line 3 Replacement Project Canada Edmonton 5B Reached agreement to place into service Dec 1 Canadian segment Immediately enhances safety and reliability of the system Hardisty Capital cost Interim surcharge…
  6. 3Q 2019 Earnings Presentation – Enbridge Inc. – slide 6
    Liquids Business Update Line 3 Replacement - Minnesota Project Milestones Anticipated Sequence of Milestones Regulatory: MPUC EIS Spill Modelling & EIS Adequacy Reinstate Authorization Petitions for MPUC Public Consultation…
  7. 3Q 2019 Earnings Presentation – Enbridge Inc. – slide 7
    Liquids Business Update Incremental WCSB Egress 2019 Mainline Optimizations Express Pipeline Open Season Hardisty Edmonton Hardisty Kerrobert Regina Express 100kbpd Cromer 50kbpd Gretna Expansion System optimizations…
  8. 3Q 2019 Earnings Presentation – Enbridge Inc. – slide 8
    Liquids Business Update Incremental Downstream Capacity Expanding Access to U.S. Gulf Coast Seaway Expansion Plan to launch open season for up to 200 kbpd new capacity Capacity Pump station modifications of up to ISD: 2020 / 2022 1.1…
  9. 3Q 2019 Earnings Presentation – Enbridge Inc. – slide 9
    Liquids Business Update Mainline Fundamentals & Customer Profile Throughput underpinned by demand pull shippers Top 10 Mainline shippers by business model 1 Integrated 6 Integrated 2 Integrated 7 Integrated 3 Integrated 8 Refiner 4…
  10. 3Q 2019 Earnings Presentation – Enbridge Inc. – slide 10
    Liquids Business Update Mainline Tolling Framework Mainline tolling CTS incentivized Stable CTS Hardisty to framework benefits capacity increases Chicago joint toll Optimizations Incentive Tolling Agreements (ITA) Expansions 1%…
  11. 3Q 2019 Earnings Presentation – Enbridge Inc. – slide 11
    Liquids Business Update Attractiveness of Mainline Offering Long term contract alternatives Average tolls in-line 2021e WCSB producer Take-or-pay contracts with CTS netbacks Requirements contracts Strongest netback for WCSB crude…
  12. 3Q 2019 Earnings Presentation – Enbridge Inc. – slide 12
    Liquids Business Update Contracting Next Steps Canada Energy Regulator (CER) Process Indicative Timeline In Sep 2019, the CER determined that Enbridge needs approval of the offering before Mid-2021 conducting an open season Preparing…
  13. 3Q 2019 Earnings Presentation – Enbridge Inc. – slide 13
    Gas Transmission Business Update Rate Case Proceedings Texas Eastern: East Tennessee: Algonquin: Section 4 Rate Case filed Nov 2018 Filed settlement agreement in May and Commenced rate discussions with Filed rate case settlement…
  14. 3Q 2019 Earnings Presentation – Enbridge Inc. – slide 14
    Gas Transmission Business Update LNG Business Development Focus on US Gulf Coast Markets Assets well-positioned along the U.S. Gulf Coast to successfully compete for LNG opportunities Cameron Serving 2 operational LNG facilities and…
  15. 3Q 2019 Earnings Presentation – Enbridge Inc. – slide 15
    Utility Business Update Amalgamation Progress Utility Expansion Opportunities Synergy realization on track ONTARIO 2019 Rate Application OTTAWA Rates approved by Ontario Energy Board (OEB) in Owen Sound September Reinforcement…
  16. 3Q 2019 Earnings Presentation – Enbridge Inc. – slide 16
    Enterprise-wide Secured Growth Project Inventory Project Expected ISD Capital (B) AOC Lateral Acquisition In-service 0.3 CAD Gray Oak Pipeline Offshore Wind - Germany Stratton Ridge In-service 0.2 USD Generation Pipeline Acquisition…
  17. 3Q 2019 Earnings Presentation – Enbridge Inc. – slide 17
    Q3 2019 Financial Performance Adjusted EBITDA C millions Performance Drivers: 193 Higher Mainline volumes and IJT 29 Liquids Pipelines Strong downstream pipeline volumes 17 3,108 9 Absence of EBITDA from Asset Sales Gas…
  18. 3Q 2019 Earnings Presentation – Enbridge Inc. – slide 18
    Q3 2019 Financial Performance DCF per share Per share (C) Performance Drivers: EBITDA EBITDA growth (prior slide) Maintenance capital Lower expenditures due to assets sold Lower financing costs, i.e. asset sales 1.04 Financing…
  19. 3Q 2019 Earnings Presentation – Enbridge Inc. – slide 19
    Re-affirming 2019 Financial Outlook Q1-Q3 STRENGTH Liquids Pipelines throughput 2019 Distributable Cash Flow/share 1 Energy Services expected to Gas Distribution weather impacts Exceed the 4.30 4.60 Midpoint O&A cost performance…
  20. 3Q 2019 Earnings Presentation – Enbridge Inc. – slide 20
    Financial Strength & Flexibility Consolidated DEBT to EBITDA1 Non-Core Asset Sales 6.0x Proceeds (B) Closed 5.5x Target Range: Midcoast G&P Business 1.5 Aug. 1, 2018 4.5x to 5.0x (US1.1B) 1.7 5.0x Renewables Power Assets Aug.…
  21. 3Q 2019 Earnings Presentation – Enbridge Inc. – slide 21
  22. 3Q 2019 Earnings Presentation – Enbridge Inc. – slide 22
    2019 Strategic Priorities Priorities YTD Status Strong operating performance across the businesses Achieve 2019 DCF guidance range 1. of 4.30 4.60/share Full year DCF/share expected to exceed the mid-point of guidance range Canadian…
  23. 3Q 2019 Earnings Presentation – Enbridge Inc. – slide 23
    Q&A

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