Operating Performance & Strategic Milestones Midstream & Marketing Expansion of Temple LNG facility is on track FERC approved Expand liquefaction capacity by 50% Expect to be on-stream by Q3 Continue to make progress on the Auburn…
Kirk Oliver Chief Financial Officer February 5, 2015
2015 Q1 Financial Results Three Months Ended December 31, 2014 2013 Adjusted net income attributable to UGI Corporation: Net income attributable to UGI Corporation 34.1 122.0 Net after-tax losses (gains) on commodity derivative…
Fiscal Year Weather vs. Normal AmeriGas Antargaz Flaga Gas Utility vs. Normal COLDER 3.8% 3.0% (3.9)% (6.2)% (7.2)% (WARMER) (12.9)% (17.4)% (20.2)% (9.6%) HDD (14.0%) HDD (5.2%) HDD (6.7%) HDD 2015 2014 * HDD…
AmeriGas 200 Operating Income, MM MARGIN 179.7 (37.0) Warmer weather, particularly in Western regions 160 1.5 (1.2) (6.2) 2.9 139.7 120 OPEX Higher casualty and general liability expenses 80 Lower vehicle operating and…
UGI International 60 Income Before Taxes, MM MARGIN Weaker Euro and British Pound 50 49.2 Sterling 9.0 45.9 Lower Antargaz and Flaga 40 volumes 11.5 Higher unit margins (in euros) 30 15.3 at Antargaz 4.6 OPEX 20 13.1 Weaker Euro…
Gas Utility Income Before Taxes, MM 80 73.7 MARGIN Warmer weather 70 2.9 61.7 Customer Growth 60 6.5 0.9 1.7 50 OPEX 40 Higher distribution system 30 maintenance Higher employee benefit and 20 information technology 10…
Midstream & Marketing 60 Income Before Taxes, MM MARGIN Higher capacity management 2.2 (5.9) and peaking service margin 50 13.1 (1.1) 1.4 44.9 Higher natural gas gathering and storage margin 40 35.2 Lower electric generation…
Liquidity and Guidance UGI Corporate Total AmeriGas International Utilities Midstream & Other Cash on Hand 401.2 18.5 107.0 5.3 14.5 255.9 Revolving Credit Facilities 525.0 118.6 300.0 240.0 NA Accounts Receivable Facility NA NA…
Jerry Sheridan CEO of AmeriGas February 5, 2015
Q1 Adjusted EBITDA Adjusted EBITDA*, Millions 250 200 150 230 189 100 50 0 Q1 2014 Q1 2015 * See appendix for Adjusted EBITDA reconciliation February 5, 2015 15
Operational Highlights Volume decreased 9.1% (34 million gallons) on weather that was 9.6% warmer than last year Mt. Belvieu cost decreased 55% during the quarter Mark-to-market adjustments are non-cash and associated primarily…
Growth Initiatives The AmeriGas Propane Exchange programs volume increased 4% in the quarter and added 1,023 new locations year-over-year The National Account programs volume increased by 10% Completed four smaller scale…
John Walsh President & CEO February 5, 2015
Operational Highlights PennEast 1bn project expected to deliver one bcf of gas per day Project partners have held a series of meetings in local communities; FERC will hold additional meetings Expected to be on-stream by late 2017…
Q2 Update January was cold in the Mid-Atlantic and Northeastern U.S. Return to more normal temperatures in Europe Cold weather and infrastructure gap driving higher prices for pipeline capacity February 5, 2015 20
In Conclusion Solid quarter despite warmer weather Return to more normal weather so far in Q2 Strong cash flows and balance sheets provide capacity to fund future growth Expect to deliver Adjusted EPS of 1.88 1.98 in FY…
Q&A February 5, 2015
Appendix February 5, 2015
UGI Supplemental Information: Footnotes Management uses adjusted net income attributable to UGI and adjusted diluted earnings per share, both of which are non-GAAP financial measures, when evaluating UGI's overall performance.…
Adjusted EPS to GAAP EPS Reconciliation Three Months Ended Twelve Months Ended December 31, December 31, 2014 2013 2014 2013 Adjusted diluted earnings per share: UGI Corporation earnings per share - diluted 0.19 0.70 1.42 1.71…
Adjusted Net Income to GAAP Net Income Reconciliation Three Months Ended Twelve Months Ended December 31, December 31, 2014 2013 2014 2013 Adjusted net income attributable to UGI Corporation: Net income attributable to UGI…
AmeriGas Supplemental Information: Footnotes The enclosed supplemental information contains a reconciliation of earnings before interest expense, income taxes, depreciation and amortization (EBITDA) and Adjusted EBITDA to Net…
AmeriGas Partners EBITDA Reconciliation Three Months Ended Twelve Months Ended December 31, December 31, 2014 2013 2014 2013 EBITDA and Adjusted EBITDA: Net (loss) income attributable to AmeriGas Partners, L.P. (39,571) 134,898…
AmeriGas Partners Adj. EBITDA Guidance Reconciliation Forecast Fiscal Year Ending September 30, 2015 Adjusted net income attributable to AmeriGas Partners, L.P. (estimate) (d) 286,000 Interest expense (estimate) 163,000 Income…
Investor Relations: William Ruthrauff 610-456-6571 ruthrauffwugicorp.com February 5, 2015
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