This document is a presentation by AES Corporation given at an energy/power conference on September 4, 2008. The presentation provides an overview of AES, including that it operates in 29 countries with over 43 GW of generation capacity across various fuel types and geographies. It discusses AES's strategy of focusing on core power, renewables, and climate solutions to drive 14-17% annual EPS growth. The presentation also provides examples of AES's progress on power projects under construction and in its development pipeline to achieve its growth targets.
- Pepco Holdings, Inc. reported on its 2006 financial and operational performance in its annual report and proxy statement. It noted lower earnings compared to 2005 due to mild weather but continued growth in shareholder value.
- Key accomplishments in 2006 included implementing balanced rate mitigation plans, filing rate cases to cover increased delivery costs, proposing a major transmission line project, agreeing to sell remaining regulated generation assets, and achieving strong performance in wholesale energy and retail energy businesses.
- Looking ahead, the company plans to focus on growth through regulatory outcomes, infrastructure investments, environmental leadership programs, and improving wholesale energy market conditions.
This presentation provides an overview of the company's key investment highlights:
1) It has a diversified portfolio of coal reserves and midstream assets, including over 800 million tons of high-quality coal reserves and a 4,263 mile pipeline network.
2) The company recently simplified its capital structure to enhance growth potential by merging with another company and eliminating incentive distribution rights.
3) Its coal royalty business provides stable cash flows through long-term leases with experienced operators and natural hedging between producers and end users.
4) The midstream segment has excellent organic growth opportunities in the Marcellus Shale through its fee-based business model and existing infrastructure.
1) Petrobras aims to be one of the top five largest integrated energy companies in the world by 2020 with a strong international presence and leadership in biofuels.
2) Petrobras' $112 billion investment plan from 2008-2012 focuses on expanding oil and gas production, refining and distribution, with 58% directed to exploration and production.
3) The investment plan represents a 29% increase over the previous plan, with $13 billion from new projects including exploration, production of mature fields, refining and petrochemicals.
A Sample financial analysis performed by S.Gee - From an investor’s perspective. Compares TransCanada with others competitors in industry using financial reports primarily.
Cash & Trade Middle East magazine article published (February 2010) by Lance ...npatchon
Energy companies in the Middle East have faced significant challenges from falling demand and prices due to the global economic downturn. However, demand for oil and gas is projected to increase substantially by 2030, requiring major new investments. This rebound in demand is putting pressure on treasury departments in the region to improve efficiency and enhance working capital management in order to help their companies prepare to meet future energy needs while coping with current economic conditions.
This document provides a summary of factors affecting Hawaii electricity rates and historical and future trends:
1) It discusses how Hawaii electricity rates are regulated and key reasons for recent rate increases such as rising fuel and operation & maintenance costs.
2) Historical data is presented on average electricity rates by county from 2002-2012 and revenue increases for HECO, showing a substantial rise driven by higher fuel costs.
3) The evolution of Hawaii's energy policy and goals to increase renewable energy and energy efficiency are summarized, along with challenges in integrating more renewables and stabilizing costs.
4) Potential drivers of future rate changes are outlined, including utility capital spending and environmental compliance costs, as well as the impact of
The document is an agenda for a BB&T commercial and industrial conference on March 29, 2012. The agenda includes an overview and highlights of Penn Virginia Resource Partners' natural gas midstream business, coal and natural resource management business, and financial overview. It also allocates time for questions.
- Pepco Holdings, Inc. reported on its 2006 financial and operational performance in its annual report and proxy statement. It noted lower earnings compared to 2005 due to mild weather but continued growth in shareholder value.
- Key accomplishments in 2006 included implementing balanced rate mitigation plans, filing rate cases to cover increased delivery costs, proposing a major transmission line project, agreeing to sell remaining regulated generation assets, and achieving strong performance in wholesale energy and retail energy businesses.
- Looking ahead, the company plans to focus on growth through regulatory outcomes, infrastructure investments, environmental leadership programs, and improving wholesale energy market conditions.
This presentation provides an overview of the company's key investment highlights:
1) It has a diversified portfolio of coal reserves and midstream assets, including over 800 million tons of high-quality coal reserves and a 4,263 mile pipeline network.
2) The company recently simplified its capital structure to enhance growth potential by merging with another company and eliminating incentive distribution rights.
3) Its coal royalty business provides stable cash flows through long-term leases with experienced operators and natural hedging between producers and end users.
4) The midstream segment has excellent organic growth opportunities in the Marcellus Shale through its fee-based business model and existing infrastructure.
1) Petrobras aims to be one of the top five largest integrated energy companies in the world by 2020 with a strong international presence and leadership in biofuels.
2) Petrobras' $112 billion investment plan from 2008-2012 focuses on expanding oil and gas production, refining and distribution, with 58% directed to exploration and production.
3) The investment plan represents a 29% increase over the previous plan, with $13 billion from new projects including exploration, production of mature fields, refining and petrochemicals.
A Sample financial analysis performed by S.Gee - From an investor’s perspective. Compares TransCanada with others competitors in industry using financial reports primarily.
Cash & Trade Middle East magazine article published (February 2010) by Lance ...npatchon
Energy companies in the Middle East have faced significant challenges from falling demand and prices due to the global economic downturn. However, demand for oil and gas is projected to increase substantially by 2030, requiring major new investments. This rebound in demand is putting pressure on treasury departments in the region to improve efficiency and enhance working capital management in order to help their companies prepare to meet future energy needs while coping with current economic conditions.
This document provides a summary of factors affecting Hawaii electricity rates and historical and future trends:
1) It discusses how Hawaii electricity rates are regulated and key reasons for recent rate increases such as rising fuel and operation & maintenance costs.
2) Historical data is presented on average electricity rates by county from 2002-2012 and revenue increases for HECO, showing a substantial rise driven by higher fuel costs.
3) The evolution of Hawaii's energy policy and goals to increase renewable energy and energy efficiency are summarized, along with challenges in integrating more renewables and stabilizing costs.
4) Potential drivers of future rate changes are outlined, including utility capital spending and environmental compliance costs, as well as the impact of
The document is an agenda for a BB&T commercial and industrial conference on March 29, 2012. The agenda includes an overview and highlights of Penn Virginia Resource Partners' natural gas midstream business, coal and natural resource management business, and financial overview. It also allocates time for questions.
NiSource Inc. is a regulated energy company that aims to be the premier company in the industry. In 2007, NiSource made progress on its strategic plan through regulatory approvals, infrastructure projects, and resolving legacy issues. Key accomplishments included rate cases, pipeline expansion projects, restructuring business agreements, and maintaining investment grade credit ratings. NiSource views 2008 as pivotal for executing infrastructure projects, achieving regulatory initiatives like rate cases, and advancing its gas transmission and storage growth strategy including an MLP.
The document is the 2005 annual report and proxy statement from PHI (Pepco Holdings Inc.). It discusses PHI's strategy of focusing on stable power delivery and growing energy businesses. In 2005, PHI achieved earnings of $371.2 million and strengthened its balance sheet by paying down over $1 billion in debt. Rising energy prices present challenges for PHI and its customers. The proxy statement announces the annual meeting to elect directors and ratify the independent auditor.
The document discusses EDP Energias do Brasil's history and operations in the Brazilian power sector, including its generation, distribution, and commercialization businesses. It provides financial and operational data for 2008 that shows EDP has a large presence in Brazil as the 5th largest private generator, 4th largest private distributor, and 3rd largest private trading company. The document also gives an overview of the growth trends in Brazil's power sector and generation sources.
2014 RBC Capital Markets’ MLP Conferenceir_jpenergy
JP Energy Partners LP is a midstream MLP focused on infrastructure solutions for liquid petroleum products. It has an integrated and diversified platform with stable cash flows from fee-based and margin-based operations that have low commodity price sensitivity. The company has a proven ability to complete acquisitions and develop organic projects, and sees significant growth opportunities through potential drop-downs from its affiliates and organic projects.
air products & chemicals 7 May 2008 Bankof America BASicsfinance26
This document provides an overview of Air Products, a $10 billion industrial gases company. It discusses Air Products' business segments, geographic sales breakdown, and value proposition of long-term contracts and consistent cash flows. The document also summarizes Air Products' financial performance over the past four years, with increasing sales, earnings per share, operating margin, and return on capital employed. Finally, it discusses the outlook for continued growth in Air Products' electronics and performance materials segment.
This document discusses the energy company's commitment to innovation and sustainability. It highlights that the company's most valuable resource is the ingenuity of its employees. While traditional energy sources like electricity, gas, and nuclear are important, the company believes its potential comes from delivering energy in environmentally-friendly ways. The CEO expresses excitement for the company's ability to create long-term shareholder value through investments in natural gas infrastructure and renewable energy projects.
Progress Energy reported third-quarter 2006 earnings of $1.27 per share compared to $1.82 per share for the same period last year. Core ongoing earnings were $0.89 per share compared to $1.05 per share last year, with unfavorable impacts from weather and mark-to-market losses. The company reaffirmed 2006 core ongoing earnings guidance of $2.45 to $2.65 per share and expects ongoing earnings growth of over 3-5% in 2007-2008 driven by debt reduction, cost management and increased investment.
air products & chemicals 16 May 2007 Goldman Sachsfinance26
- Mike Hilton is the VP/GM of Electronics and Performance Materials at Goldman Sachs. He presents an overview of Air Products' business segments and financial performance.
- Air Products has seen consecutive years of sales growth and increasing earnings per share. The company aims to achieve an ORONA (operating return on net assets) of 12.5% through profitable growth initiatives.
- Key growth areas include major investment projects in Tonnage Gases, liquefied natural gas equipment, and expanding markets in Asia for Merchant Gases and Electronics. The presentation provides segment-level details on financial performance and growth strategies.
NiSource Inc. is the parent company of utilities that distribute natural gas. In 2005, the company made progress on its four-point plan for growth despite challenges. Key accomplishments included expanding its pipeline and storage network through projects like the Hardy Storage Project, pursuing regulatory and commercial initiatives, improving financial management, and reducing expenses. However, the company recognizes it still faces issues like high gas prices reducing customer usage that could impact growth plans and ongoing losses at its Whiting Clean Energy division that require resolution. The CEO pledges to keep communicating with shareholders about decisions on addressing these remaining challenges.
Public Service Enterprise Group held an energy and utilities conference in Miami Beach, Florida on May 29, 2008. The presentation included forward-looking statements about PSEG's performance, which may differ from actual results. It also noted factors that could impact PSEG's operating results such as energy industry and regulatory changes. PSEG Power represents the largest subsidiary and has a diverse portfolio of electric generation assets well-positioned to meet capacity and environmental requirements.
John Gibson, CEO of ONEOK and ONEOK Partners, presented at the 18th Annual Wachovia Equity Conference in Nantucket, Massachusetts on June 24, 2008. The presentation outlined ONEOK's vision to become a premier energy company through diversified assets including natural gas distribution, energy services, and growth projects at ONEOK Partners. Key growth strategies included generating consistent growth and sustainable earnings through improving profitability, strategic acquisitions, and executing $1.6 billion in internal growth projects at ONEOK Partners through 2009.
- Pepco Holdings held its annual meeting and provided its annual report to shareholders.
- In 2002, Pepco Holdings earned $210.5 million in consolidated earnings, or $1.61 per share. Earnings were driven by strong performance from regulated utility businesses and some competitive energy businesses.
- The letter discusses the company's strategy, leadership, and financial and operational performance across its various business segments in 2002. It also encourages shareholders to vote and continue supporting the company.
ONEOK and ONEOK Partners to Present at Houston Energy Financial finance20
This document provides an agenda and overview for the Houston Energy Financial Forum on November 18, 2008. The presentation discusses ONEOK, Inc. and ONEOK Partners, L.P. as premier energy companies with diversified assets across the natural gas value chain. Key points include ONEOK Partners' $2 billion growth plan through internal projects between 2008-2009 focused on natural gas gathering and processing and natural gas liquids infrastructure in the Rockies. The presentation also highlights ONEOK's strategy of creating value through vertical integration and growth at ONEOK Partners, which benefits ONEOK through increasing distributions.
Terex provides a presentation containing forward-looking statements about its business and financial performance. It warns that actual results could differ materially from expectations due to risks including economic conditions, competition, regulations, and access to capital. Terex aims to delight customers, attract top talent, and be the most profitable and responsive company in its industry. It has a diversified portfolio of equipment businesses and geographic presence.
el paso 03_27Leland_CreditSuisse_FINAL(Web)finance49
The document provides an overview of El Paso Corporation, including its two core businesses of interstate pipelines and exploration and production. It summarizes El Paso's leading pipeline network in North America, well-positioned assets, committed growth backlog approaching $4 billion, and focus on sustainable long-term growth through pipeline infrastructure investments and 8-12% annual production growth from E&P. The document also reviews El Paso's leveraged finance position and management of capital costs for major projects.
Qwest reported higher sequential net income of $117 million for Q2 2006, compared to $88 million in Q1 2006. EBITDA margins expanded by 330 basis points year-over-year to 31.9%. Revenue was relatively flat at $3.5 billion compared to Q2 2005. The company also generated $595 million in free cash flow for the quarter and expects $1.35-$1.5 billion for 2006. Customer connections grew by 318,000 from the year-ago quarter, driven by growth in high-speed internet and bundled products.
The document provides financial information for Qwest Communications International Inc. for the first quarter of 2007 compared to the first quarter of 2006. Some key points:
- Revenue decreased slightly by 0.9% to $3.446 billion. Net income increased significantly to $240 million from $88 million due to lower operating expenses.
- Data, internet, and video services revenue grew by 10.7% while voice services revenue declined by 6.6%.
- Capital expenditures decreased by 18.5% to $318 million.
- Total access lines served declined by 6.8% to 13.551 million while high-speed internet subscribers grew by 37.4% to 2.305 million.
Qwest reported improved second quarter results, with revenue increasing slightly both sequentially and year-over-year. Operating income and margins expanded due to ongoing cost reduction efforts. Key growth areas like high-speed internet, bundled services, and wireless saw subscriber increases. Cash flow from operations exceeded capital expenditures, and debt was reduced by over $850 million from the previous year.
World Fuel Services Corporation is a global leader in the downstream marketing and financing of aviation and marine fuel products and related services. For the nine-month period ended December 31, 2002, the company reported revenue of $1.55 billion, up 52.6% from the same period the previous year. Net income was $9.9 million, down 22.6% from the previous year. The company has a strong balance sheet with $312 million in total assets and $127.7 million in stockholders' equity.
NiSource Inc. is a regulated energy company that aims to be the premier company in the industry. In 2007, NiSource made progress on its strategic plan through regulatory approvals, infrastructure projects, and resolving legacy issues. Key accomplishments included rate cases, pipeline expansion projects, restructuring business agreements, and maintaining investment grade credit ratings. NiSource views 2008 as pivotal for executing infrastructure projects, achieving regulatory initiatives like rate cases, and advancing its gas transmission and storage growth strategy including an MLP.
The document is the 2005 annual report and proxy statement from PHI (Pepco Holdings Inc.). It discusses PHI's strategy of focusing on stable power delivery and growing energy businesses. In 2005, PHI achieved earnings of $371.2 million and strengthened its balance sheet by paying down over $1 billion in debt. Rising energy prices present challenges for PHI and its customers. The proxy statement announces the annual meeting to elect directors and ratify the independent auditor.
The document discusses EDP Energias do Brasil's history and operations in the Brazilian power sector, including its generation, distribution, and commercialization businesses. It provides financial and operational data for 2008 that shows EDP has a large presence in Brazil as the 5th largest private generator, 4th largest private distributor, and 3rd largest private trading company. The document also gives an overview of the growth trends in Brazil's power sector and generation sources.
2014 RBC Capital Markets’ MLP Conferenceir_jpenergy
JP Energy Partners LP is a midstream MLP focused on infrastructure solutions for liquid petroleum products. It has an integrated and diversified platform with stable cash flows from fee-based and margin-based operations that have low commodity price sensitivity. The company has a proven ability to complete acquisitions and develop organic projects, and sees significant growth opportunities through potential drop-downs from its affiliates and organic projects.
air products & chemicals 7 May 2008 Bankof America BASicsfinance26
This document provides an overview of Air Products, a $10 billion industrial gases company. It discusses Air Products' business segments, geographic sales breakdown, and value proposition of long-term contracts and consistent cash flows. The document also summarizes Air Products' financial performance over the past four years, with increasing sales, earnings per share, operating margin, and return on capital employed. Finally, it discusses the outlook for continued growth in Air Products' electronics and performance materials segment.
This document discusses the energy company's commitment to innovation and sustainability. It highlights that the company's most valuable resource is the ingenuity of its employees. While traditional energy sources like electricity, gas, and nuclear are important, the company believes its potential comes from delivering energy in environmentally-friendly ways. The CEO expresses excitement for the company's ability to create long-term shareholder value through investments in natural gas infrastructure and renewable energy projects.
Progress Energy reported third-quarter 2006 earnings of $1.27 per share compared to $1.82 per share for the same period last year. Core ongoing earnings were $0.89 per share compared to $1.05 per share last year, with unfavorable impacts from weather and mark-to-market losses. The company reaffirmed 2006 core ongoing earnings guidance of $2.45 to $2.65 per share and expects ongoing earnings growth of over 3-5% in 2007-2008 driven by debt reduction, cost management and increased investment.
air products & chemicals 16 May 2007 Goldman Sachsfinance26
- Mike Hilton is the VP/GM of Electronics and Performance Materials at Goldman Sachs. He presents an overview of Air Products' business segments and financial performance.
- Air Products has seen consecutive years of sales growth and increasing earnings per share. The company aims to achieve an ORONA (operating return on net assets) of 12.5% through profitable growth initiatives.
- Key growth areas include major investment projects in Tonnage Gases, liquefied natural gas equipment, and expanding markets in Asia for Merchant Gases and Electronics. The presentation provides segment-level details on financial performance and growth strategies.
NiSource Inc. is the parent company of utilities that distribute natural gas. In 2005, the company made progress on its four-point plan for growth despite challenges. Key accomplishments included expanding its pipeline and storage network through projects like the Hardy Storage Project, pursuing regulatory and commercial initiatives, improving financial management, and reducing expenses. However, the company recognizes it still faces issues like high gas prices reducing customer usage that could impact growth plans and ongoing losses at its Whiting Clean Energy division that require resolution. The CEO pledges to keep communicating with shareholders about decisions on addressing these remaining challenges.
Public Service Enterprise Group held an energy and utilities conference in Miami Beach, Florida on May 29, 2008. The presentation included forward-looking statements about PSEG's performance, which may differ from actual results. It also noted factors that could impact PSEG's operating results such as energy industry and regulatory changes. PSEG Power represents the largest subsidiary and has a diverse portfolio of electric generation assets well-positioned to meet capacity and environmental requirements.
John Gibson, CEO of ONEOK and ONEOK Partners, presented at the 18th Annual Wachovia Equity Conference in Nantucket, Massachusetts on June 24, 2008. The presentation outlined ONEOK's vision to become a premier energy company through diversified assets including natural gas distribution, energy services, and growth projects at ONEOK Partners. Key growth strategies included generating consistent growth and sustainable earnings through improving profitability, strategic acquisitions, and executing $1.6 billion in internal growth projects at ONEOK Partners through 2009.
- Pepco Holdings held its annual meeting and provided its annual report to shareholders.
- In 2002, Pepco Holdings earned $210.5 million in consolidated earnings, or $1.61 per share. Earnings were driven by strong performance from regulated utility businesses and some competitive energy businesses.
- The letter discusses the company's strategy, leadership, and financial and operational performance across its various business segments in 2002. It also encourages shareholders to vote and continue supporting the company.
ONEOK and ONEOK Partners to Present at Houston Energy Financial finance20
This document provides an agenda and overview for the Houston Energy Financial Forum on November 18, 2008. The presentation discusses ONEOK, Inc. and ONEOK Partners, L.P. as premier energy companies with diversified assets across the natural gas value chain. Key points include ONEOK Partners' $2 billion growth plan through internal projects between 2008-2009 focused on natural gas gathering and processing and natural gas liquids infrastructure in the Rockies. The presentation also highlights ONEOK's strategy of creating value through vertical integration and growth at ONEOK Partners, which benefits ONEOK through increasing distributions.
Terex provides a presentation containing forward-looking statements about its business and financial performance. It warns that actual results could differ materially from expectations due to risks including economic conditions, competition, regulations, and access to capital. Terex aims to delight customers, attract top talent, and be the most profitable and responsive company in its industry. It has a diversified portfolio of equipment businesses and geographic presence.
el paso 03_27Leland_CreditSuisse_FINAL(Web)finance49
The document provides an overview of El Paso Corporation, including its two core businesses of interstate pipelines and exploration and production. It summarizes El Paso's leading pipeline network in North America, well-positioned assets, committed growth backlog approaching $4 billion, and focus on sustainable long-term growth through pipeline infrastructure investments and 8-12% annual production growth from E&P. The document also reviews El Paso's leveraged finance position and management of capital costs for major projects.
Qwest reported higher sequential net income of $117 million for Q2 2006, compared to $88 million in Q1 2006. EBITDA margins expanded by 330 basis points year-over-year to 31.9%. Revenue was relatively flat at $3.5 billion compared to Q2 2005. The company also generated $595 million in free cash flow for the quarter and expects $1.35-$1.5 billion for 2006. Customer connections grew by 318,000 from the year-ago quarter, driven by growth in high-speed internet and bundled products.
The document provides financial information for Qwest Communications International Inc. for the first quarter of 2007 compared to the first quarter of 2006. Some key points:
- Revenue decreased slightly by 0.9% to $3.446 billion. Net income increased significantly to $240 million from $88 million due to lower operating expenses.
- Data, internet, and video services revenue grew by 10.7% while voice services revenue declined by 6.6%.
- Capital expenditures decreased by 18.5% to $318 million.
- Total access lines served declined by 6.8% to 13.551 million while high-speed internet subscribers grew by 37.4% to 2.305 million.
Qwest reported improved second quarter results, with revenue increasing slightly both sequentially and year-over-year. Operating income and margins expanded due to ongoing cost reduction efforts. Key growth areas like high-speed internet, bundled services, and wireless saw subscriber increases. Cash flow from operations exceeded capital expenditures, and debt was reduced by over $850 million from the previous year.
World Fuel Services Corporation is a global leader in the downstream marketing and financing of aviation and marine fuel products and related services. For the nine-month period ended December 31, 2002, the company reported revenue of $1.55 billion, up 52.6% from the same period the previous year. Net income was $9.9 million, down 22.6% from the previous year. The company has a strong balance sheet with $312 million in total assets and $127.7 million in stockholders' equity.
Viacom reported its third quarter 2001 results, with pro forma revenues of $5.7 billion and pro forma EBITDA of $1.3 billion. Four of its six operating segments saw revenue increases, led by 19% growth in cable networks and video. Pro forma free cash flow totaled $883 million, equal to 66% of EBITDA. While results were impacted by lower revenues and higher costs from 9/11 events, the company remains on track for a record year with free cash flow approaching $3 billion. Segment results were mixed, with cable networks, video and publishing seeing revenue and EBITDA gains, while television, infinity and entertainment declined from prior year.
The document outlines the charter of the Compensation Committee of the Board of Directors of L-3 Communications Holdings, Inc. The committee is responsible for assisting the board in overseeing executive compensation, evaluating CEO performance and compensation, reviewing incentive plans, and preparing compensation disclosures. Key duties include setting compensation for executive officers and directors, monitoring incentive plans, retaining compensation consultants, and reporting to the full board. The committee will also annually review its own performance and the adequacy of its charter.
Qwest Communications International Inc. reported financial results for the first quarter of 2008. Total operating revenue declined 1.4% year-over-year to $3.4 billion. Net income decreased 34.6% to $157 million compared to $240 million in the first quarter of 2007. Basic earnings per share fell 30.8% to $0.09 from $0.13 in the previous year.
World Fuel Services Corporation is a global leader in the downstream marketing and financing of aviation and marine fuel products and related services. For the nine-month period ended December 31, 2002, the company reported revenue of $1.55 billion, up 52.6% from the same period the previous year. Net income was $9.9 million, down 22.6% from the previous year. The company has a strong balance sheet with $312 million in total assets and $127.7 million in stockholders' equity.
This document provides an overview of AES Corporation's focus on generating power in regions where electricity is essential to daily life and developing alternative energy sources. The summary discusses how AES is working to bring reliable electricity to more areas through new power plants, helping power economic growth. AES also aims to expand clean hydropower and develop renewable energy like wind and solar to meet global demand for sustainable energy options.
This document is a Form 10-Q quarterly report filed by The AES Corporation with the Securities and Exchange Commission (SEC). It provides consolidated financial statements and notes for AES for the quarterly period ended September 30, 2001, including statements of operations, balance sheets, and cash flows. It also includes sections on legal proceedings, changes in securities, defaults on senior securities, submission of matters to a vote of security holders, other information, and exhibits and reports filed with the SEC.
pepsi bottling Non Gaap Investor Day121307finance19
The document provides reconciliations of non-GAAP financial measures reported by The Pepsi Bottling Group to GAAP measures for 2005-2007 and 2008 guidance. It summarizes adjustments made for items affecting comparability between years, including restructuring charges, tax law changes, and accounting rule changes. Operating profit growth, EPS, and cash flow are reconciled for these periods. Non-GAAP measures are used to evaluate underlying business performance by excluding certain non-recurring or variable items.
Viacom reported record third quarter 2003 results, with revenues increasing 5% to $6.60 billion and operating income rising 7% to $1.38 billion. Advertising revenues grew 8% to $2.88 billion. Earnings per share increased to $0.40 from $0.36 in the prior year. The company expects continued growth in 2004, forecasting revenue growth of 5-7% and earnings per share growth of 13-15%. Segment operating income rose significantly across Cable Networks, Television, and Video. The company reiterated 2003 guidance and sees strong growth continuing into 2004.
This document provides a summary of the annual report for L-3 Communications for 2004. It discusses L-3's record year in orders and backlog. It also summarizes acquisitions L-3 made to augment its portfolio, including companies that expanded its capabilities in infrared detectors, imaging sensors, unmanned aerial vehicles, laser marksmanship training systems, and aircraft modernization in Canada. The summary highlights L-3's role in assisting the US military and notes there is no greater honor than helping those who protect national security.
Viacom reported record results for the first quarter of 2004, with double-digit increases in revenues, operating income, and net earnings compared to the same period last year. Revenues increased 12% to a record $6.8 billion, advertising revenues grew 21% to $3.2 billion, and operating income rose 20% to a record $1.2 billion. Net earnings increased 60% to $711 million, though excluding a one-time tax benefit would result in a 29% increase. The strong results were driven by growth across all business segments, particularly a 21% increase in revenues for cable networks and 18% increase for television.
The document provides reconciliations of Pepsi Bottling Group's (PBG) reported and comparable non-GAAP financial measures for the third quarter and year-to-date 2007, including net revenue, gross profit, operating income, earnings per share (EPS), and operating free cash flow (OFCF). It also provides PBG's 2007 guidance ranges on a reported and adjusted basis, adjusting for items affecting comparability including tax matters, restructuring charges, and asset rationalization charges.
Qwest reported solid first quarter results with positive earnings per share, revenue growth, and continued margin expansion. EPS was $0.05 compared to $0.03 in the first quarter of 2005. Revenue increased 0.8% year-over-year to $3.5 billion. Adjusted EBITDA margin improved to 30.7% from 28.7% in the first quarter of 2005. Key growth areas like high-speed internet and bundled products contributed to improved results.
The AES Corporation reported financial results for the first quarter of 2008 with the following highlights:
- Earnings per share from continuing operations were up 100% to $0.34 compared to the first quarter of 2007, and adjusted earnings per share were up 63% to $0.39.
- Gross margin increased 23% to $1.0 billion compared to the first quarter of 2007, driven by higher prices and volumes across Latin America and Europe.
- Revenue increased 33% to $4.1 billion compared to the first quarter of 2007, reflecting higher prices and volumes as well as favorable foreign currency impacts.
xcel energy 1D KEnvironmental_Leadership_Xcel_Energy_12052007finance26
This document outlines Xcel Energy's strategy for achieving financial success through environmental leadership. The strategy focuses on growing their core regulated utility business while meeting environmental challenges like reducing emissions by 2020. Key elements of the strategy include investing in regulated utility infrastructure, increasing renewable energy generation and company-owned transmission, enhancing regulatory frameworks to support clean energy, and improving customer understanding of clean energy costs and benefits. The strategy aims to achieve 5-7% annual EPS growth and 2-4% annual dividend growth while transitioning to a cleaner energy supply mix by 2020.
xcel energy 1DKxcel energy Environmental_Leadership_Xcel_Energy_12052007finance26
This document outlines Xcel Energy's strategy for achieving financial success through environmental leadership. The strategy focuses on growing their core regulated utility business while meeting environmental challenges like reducing emissions by 2020. Key elements of the strategy include investing in regulated utility infrastructure, increasing renewable energy generation and company-owned transmission, enhancing regulatory frameworks to support clean energy, and improving customer understanding of clean energy costs and benefits. The strategy aims to achieve 5-7% annual EPS growth and 2-4% annual dividend growth while transitioning to a cleaner energy supply mix by 2020.
air products & chemicals 2008 Feb11 Lehmanfinance26
This document provides an overview of Air Products, including its business segments, financial performance, growth opportunities, and outlook. Some key points:
- Air Products has a diverse portfolio across gases, equipment, and technologies with long-term contracts providing stability.
- The company has delivered strong sales and earnings growth in recent years and aims to continue expanding margins and improving returns.
- Major growth opportunities exist in hydrogen, oxygen for gasification, and other energy and environmental applications.
- Air Products expects to sustain double-digit earnings growth through focus on productivity and margins while maintaining its leadership in industrial gases.
Our white paper highlights the commercial returns that can be achieved by investing in the latest energy management skills.
The position of Energy Manager is evolving into someone who is comfortable in the board room as well as the boiler room, with technical and commercial knowledge – and the increasing ability to impact on margins and revenues.
Commentary from high-profile industry experts from BT, Marks and Spencer, Siemens and Johnson Controls.
The paper looks at how companies in a stagnant economy are increasingly turning to energy efficiency as a way to increase profit – impacting the scope and function of their energy teams.
This report on “Energy Efficiency in India: PAT Scheme - Success and Failures”, prepared by Tata Strategic Management Group, has a holistic view on the current state of energy efficiency and energy management in India. The focus of this report is on identifying key challenges faced by designated consumers in implementation of PAT Cycle I and how a collaborative effort in the right direction could ensure fast adoption of EE and robust energy management in India. It would gear India towards reducing energy intensity of the future growth, one of the prime objectives under NAPCC
The document provides an overview and summary of PHI's strategy and performance across its various business segments. PHI aims to remain a regional diversified energy delivery and competitive services company focused on value creation and operational excellence. Key aspects include achieving constructive regulatory outcomes and 4% annual earnings growth for its power delivery utilities, optimizing assets and market opportunities for Conectiv Energy, and expanding Pepco Energy Services into additional markets. Financial performance has been positively impacted by infrastructure investments and sales growth, though earnings have been reduced in some jurisdictions due to higher standard offer service pricing.
Leaders in oil and gas reinvention are taking decisive, holistic actions across five key areas (competitiveness, carbon, connectivity, customer, and culture) to reinvent their businesses. They are balancing investments in hydrocarbons with growing a low-carbon portfolio. Leaders are also focusing on total enterprise reinvention, setting reasonable expectations, and strengthening capabilities. In carbon, leaders are setting ambitious emission reduction targets and meaningfully investing in decarbonization. They are also integrating multiple solutions to accelerate decarbonization progress. Leaders prioritize digital connectivity, customer experiences, and culture change led from the top to build capabilities for the future.
This document provides an overview of Pepco Holdings, Inc.'s power delivery business. It discusses planned infrastructure investments totaling $4.99 billion from 2008-2012 to improve reliability, support load growth, and implement new technology. A key project is the $1.05 billion Mid-Atlantic Power Pathway transmission line. The document also reviews regulatory highlights, including recent rate cases, and outlines operational and financial summaries for the company's distribution and transmission businesses.
ExxonMobil delivered record financial results in 2007, with net income of $40.6 billion. The company invested $20.9 billion in capital projects. ExxonMobil operates worldwide in upstream, downstream, and chemical businesses, and seeks to grow shareholder value through disciplined investment, operational excellence, and industry-leading returns. Key accomplishments in 2007 included starting up seven major upstream projects, replacing over 100% of oil and gas production, and achieving the best safety performance on record.
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3) An agenda for the call including presentations on strategy/operations highlights and financial overview from the CEO and CFO, followed by Q&A.
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The document is a transcript from an investor call held by EFH Corp. on April 1, 2008. It includes:
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2) Information on EFH Corp.'s adjusted EBITDA for 2006-2007, which dropped 13% due to factors including price discounts, increased fuel costs, and lower customer volumes.
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Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
A toxic combination of 15 years of low growth, and four decades of high inequality, has left Britain poorer and falling behind its peers. Productivity growth is weak and public investment is low, while wages today are no higher than they were before the financial crisis. Britain needs a new economic strategy to lift itself out of stagnation.
Scotland is in many ways a microcosm of this challenge. It has become a hub for creative industries, is home to several world-class universities and a thriving community of businesses – strengths that need to be harness and leveraged. But it also has high levels of deprivation, with homelessness reaching a record high and nearly half a million people living in very deep poverty last year. Scotland won’t be truly thriving unless it finds ways to ensure that all its inhabitants benefit from growth and investment. This is the central challenge facing policy makers both in Holyrood and Westminster.
What should a new national economic strategy for Scotland include? What would the pursuit of stronger economic growth mean for local, national and UK-wide policy makers? How will economic change affect the jobs we do, the places we live and the businesses we work for? And what are the prospects for cities like Glasgow, and nations like Scotland, in rising to these challenges?
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
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1. AES Corporation
September 4, 2008
Victoria Harker, Executive VP and
Chief Financial Officer
Lehman Brothers CEO
Energy/Power Conference
1
2. Safe Harbor Disclosure
Certain statements in the following presentation regarding AES’s business
operations may constitute “forward-looking statements.” Such forward-
looking statements include, but are not limited to, those related to future
earnings growth and financial and operating performance. Forward-looking
statements are not intended to be a guarantee of future results, but instead
constitute AES’s current expectations based on reasonable assumptions.
Forecasted financial information is based on certain material assumptions.
These assumptions include, but are not limited to, continued normal or
better levels of operating performance and electricity demand at our
distribution companies and operational performance at our generation
businesses consistent with historical levels, as well as achievements of
planned productivity improvements and incremental growth from
investments at investment levels and rates of return consistent with prior
experience. For additional assumptions see the Appendix to this
presentation. Actual results could differ materially from those projected in
our forward-looking statements due to risks, uncertainties and other
factors. Important factors that could affect actual results are discussed in
AES’s filings with the Securities and Exchange Commission including but
not limited to the risks discussed under Item 1A “Risk Factors” in the
Company’s Annual Report on Form 10-K for the year ended December 31,
2007, as well as our other SEC filings. AES undertakes no obligation to
update or revise any forward-looking statements, whether as a result of
new information, future events or otherwise.
2
3. AES Overview Contains Forward Looking Statements
A mix of core power, renewables and climate solution businesses
Operations in 29 countries with workforce of over 28,000
Unique Electric
Power Company Holding company structure with broad capabilities – e.g., fuel/
technology, development and construction/operational management
25 years of development, construction and operations experience
Proven Operating Focused on operating excellence
Model with Strong Active approach towards portfolio management
Fundamentals Continued improvement in financial metrics with strong and growing
free cash flow
Global demand for electricity continues to grow
Well Positioned to Favorable renewable energy policies
Leverage Market Environmental regulations create market for greenhouse gas offsets
Opportunities Strong development pipeline, market knowledge and relationships
with lenders, EPC contractors and offtakers
Organic growth
Diverse Growth
Greenfield development and focused M&A
Drivers to Yield Core Power
14-17%1 Annual Renewables
EPS Growth Climate Solutions
1 Compound Annual Growth Rate (CAGR) from 2007 through 2012
3
4. AES is Among the Largest
Global Power Companies Contains Forward Looking Statements
1,185 MW Wind
Generation in the
United States
124 Power plants
worldwide totaling more
than 43 GW gross
generation capacity
Fuel Type Geography
Asia &
Latin
Renewables Middle East
Coal America
14%
21%
15 Utilities worldwide, 26%
Other
serving 11 million 41% Europe,
6%
Thermal 26%
customers, with sales of CIS &
Africa
32% 34%
more than 78,000 GWh
Gas North America
4
5. Track Record of Growth
in Key Financial Metrics Contains Forward Looking Statements
Adjusted Earnings Per Share1 Operating Cash Flow ($ in Millions)2
3%
4
Up
(1)
low
hF
as $2,206
eC $2,087
3% Fre
R3 007 $1,878
AG 4-2
$1.02
C 0
007 20
$0.94
-2
004 $1,436 3
2
$1,372
$1,290
$0.64
$1,340
$0.43 $939
$165 $235
$65
$632 $599
$473
$497
2004 2005 2006 2007 2004 2005 2006 2007
Maintenance Capex
Environmental Capex
1 A non-GAAP financial measure Free Cash Flow1
2 Excludes EDC, a business sold in May 2007, see appendix for reconciliation
3 Unaudited
5
6. Our Strategy is Aligned
With Key Market Trends Contains Forward Looking Statements
Market Conditions AES Strengths AES Focus
More than 16
Global demand for new Core Power
years international
generation capacity Gas
development,
continues to grow Coal
construction and
Higher GDP growth, increasing operation Other fossil
per capita consumption, lack of
experience fuel generation
infrastructure investments in
recent years and aging capacity
Presence in
Nuclear renaissance delayed
29 countries
Resource Scarcity Renewables
28,000 people
Wind
Higher fuel prices around the world
Solar
Concerns about energy security
Proven Hydro
management
team
Environmental Regulations Climate Solutions
Stricter regulations are driving Greenhouse
Strong
need for renewable power Gas Offsets
development
Kyoto protocol and EU’s
pipeline
emission trading schemes
6
7. 2,500 GW1 of Additional
Global Power Needed by 2020 Contains Forward Looking Statements
Greenfield Gross Capacity Investment AES's Global Core Power Pipeline
Needs by 2020 As of May 2008
2,500 GW 29 GW
Latin America Latin America
North America
5% North America
11%
12%
8%
Europe,
13% CIS &
Africa Europe,
22%
59% CIS &
70%
Africa
Asia & the
Asia & the
Middle East
Middle East
1 Cambridge Energy Research Associates (CERA), May 2008
7
8. Progress Continues in Projects
Under Construction Contains Forward Looking Statements
Currently 3,000 MW under construction in 8 countries
Since December 2007, began construction on 4 power projects in 3 countries totaling 954 MW 1
(100% platform expansion); Commenced simple cycle operations for the 370 MW Amman East
facility in Jordan
Core Power Renewables
Chile Jordan Chile Bulgaria Chile UK Cameroon
Chile Chile Chile China Turkey Panama
Santa Amman Nueva Kilroot I.C.
Project Guacolda 3 Maritza East Guacolda 4 Angamos Campiche Dibamba Huanghua JV Changuinola I
Lidia2 East Ventanas OCGT Energy JV
Type Diesel Gas Coal Coal Coal Coal Coal Coal Gas Diesel Wind Hydro Hydro
Gross MW 130 MW 370 MW 152 MW 670 MW 267 MW 152 MW 518 MW 270 MW 80 MW 86 MW 49 MW 62 MW 223 MW
Expected Unit 1: 1H 2010 Unit 1: 1H 2011
2H 2008 1H 2009 2H 2009 1H 2010 2H 2010 1H 2011 1H 2009 2009 2009 2H 2010 1H 2011
COD Unit 2: 2H 2010 Unit 2: 2H 2011
Long Term
Offtake
Contract
Platform
Expansion
1 Chile: 788 MW (Angamos and Campiche), UK: 80 MW (Kilroot OCGT) and Cameroon: 86 MW (Dibamba)
2 Peaking facility with fixed capacity payments
8
9. We Are Aggressively Executing Our 29,000 MW
Core Power Development Pipeline – Examples Contains Forward Looking Statements
Land Fuel
Rights Supply Power
Environmental
Letter of for the Water Secured Engineering Purchase
Permits
Intent Power Rights Tolling/ and Agreement/ Commercial
Fuel Platform Signed/ Plant Secured/ Pass Construction Not Financial Operation
Countries Capacity Type Expansion Awarded Secured Applied Secured Available Through Contract Required Close Date
Chile 530 MW Hydro NA NA Q2 2009 Q3 2013
El Salvador 267 MW Coal NA Q4 2008 Q4 2011
North
600 MW Coal Q2 2009 Q2 2013
America
Trinidad 720 MW Gas Q4 2008 Q4 2010
Cameroon 150-215 MW Gas Q4 2008 Q2 2010
Hungary 330 MW Coal Q2 2009 Q4 2012
Northern
430 MW Gas NA Q2 2009 Q4 2012
Ireland
India 1,200 MW Coal Q2 2010 Q4 2013
India 1,200 MW Coal Q4 2009 Q2 2013
Vietnam 1,200 MW Coal Q4 2009 Q2 2013
Development lead time ranges between three and five years with most key agreements executed within
six months prior to the financial close. Construction period is typically between two and four years
Critical milestones including project award/LOI, siting and permitting requires significant development duration
Note: The table set forth above includes examples of some of the more advanced greenfield projects in our pipeline.
Other projects not currently on the table, whether developed through acquisitions or otherwise, may be brought
online before these projects. In addition, some of these examples may not close as anticipated due to uncertainty
inherent in the development process.
9
10. We Are Well-Positioned to Achieve
Our Core Power Growth Targets Contains Forward Looking Statements
Core Power Already in Construction
Expected New Capacity Additions in MW
prior to Guidance
by Year 2012
1,964 MW4 under construction at the
time of long term guidance
8,000
Incremental Capacity Embedded in
7,000
Core Power Growth Guidance5
Guidance1
6,000
4,100 MW additional capacity in
5,000
operation by 2012
MW
4,000
3,000
Progress Towards Guidance Goals3
2,000
1,676 MW already announced
1,000
– Acquisition of 660 MW Masinloc
0
Project in the Philippines
2008 2009 2010 2011 2012 2013 &
Beyond
– 1,016 MW projects under construction
announced post long term guidance
Pipeline (Not Identified) 2
Disclosed Projects in Development 3
Approximately 29,000 MW pipeline
Acquired or Currently Under Construction - Post Guidance
4
supports our growth targets
Currently Under Construction - Announced Prior to Guidance
Includes 4,100 MW of incremental capacity embedded in core power growth guidance, plus 1,964 MW under construction at the time of long term guidance
1
In development projects expected to come on line through 2012 and disclosed on the previous slide
2
3 Projects announced post long term guidance. Includes acquisition of 660 MW Masinloc coal plant in the Philippines, as well as projects under construction, including 520 MW Angamos coal
plant in Chile, 267 MW Campiche coal plant in Chile, 62 MW hydro plants in Turkey, 80 MW Kilroot OCGT in Northern Ireland and 86 MW Dibamba project in Cameroon
4 Includes 130 MW Santa Lidia diesel plant in Chile, 152 MW Guacolda 3 coal plant in Chile, 370 MW Amman East gas plant in Jordan, 670 MW Maritza East coal plant in Bulgaria,
152 MW Guacolda 4 coal plant in Chile, 267 MW Nueva Ventanas coal plant in Chile and 223 MW Changuinola I hydro plant in Chile
5 Guidance updated in March 2008
10
11. We Are Also Successfully
Growing Our Global Wind Pipeline Contains Forward Looking Statements
AES’s Global Wind
Global Wind Potential Installed Capacity (MW)1
Pipeline (6,000 MW)
250,000
Rest of World Asia & the
Middle East
North
%
20
Asia Pacific
200,000 America
GR
CA 11%
North America
2
01
–2
150,000 Europe
07
20 42%
39%
100,000
8% Europe,
50,000
CIS &
Africa
Latin
0 America
2005 2006 2007 2008 2009 2010 2011 2012
Long term energy demand and regulatory support continue to favor
wind build out
North America, Europe, Brazil and China continue to be the main
growth markets, due to favorable tariff regimes
1 Source: Emerging Energy Research forecast as of April 2008
11
12. Significant Milestones Already Achieved to
Deliver Wind Growth – Examples Contains Forward Looking Statements
Environmental
Interconnection
Permitting
Capacity Site Turbine Delivery Long-Term Construction Commercial
Countries Wind Data
MW Control Secured PPA/Tariff Start Operation Date
Applied Secured Advanced Signed
USA – CA 80 MW 1Q 2010 4Q 2010
USA – CA 49 MW 1Q 2010 1Q 2011
USA – PJM 100 MW 4Q 2008 4Q 2009
USA – PJM 125 MW 4Q 2009 4Q 2010
USA – PJM 125 MW 4Q 2009 4Q 2010
USA – PJM 50 MW 3Q 2010 3Q 2011
USA – TX 130 MW 1Q 2011 1Q 2012
Bulgaria 156 MW 4Q 2008 4Q 2009
France 34 MW 3Q 2008 3Q 2009
France 68 MW 4Q 2008 4Q 2009
Scotland 22 MW 4Q 2008 4Q 2009
Scotland 108 MW 4Q 2010 4Q 2011
Scotland 48 MW 4Q 2010 4Q 2011
China 49 MW 2Q 2008 2Q 2009
China 49 MW 3Q 2008 4Q 2009
China 49 MW 4Q 2008 3Q 2009
China 49 MW 4Q 2008 3Q 2009
Development lead time ranges between three and five years. Construction period is
typically twelve months
Note: The table set forth above includes examples of some of the more advanced greenfield projects in our pipeline.
Other projects not currently on the table, whether developed through acquisitions or otherwise, may be brought
online before these projects. In addition, some of these examples may not close as anticipated due to uncertainty
inherent in the development process.
12
13. We Are Also Well Positioned to
Achieve Our Wind Power Targets Contains Forward Looking Statements
Wind Power Growth Guidance1
Expected New Capacity Additions in MW
by Year 2012
2,600 MW additional capacity
in operation by 2012
3,000
Guidance1
2,500
Progress
2,000
1,500 700 MW2 already in operation
MW
or under construction
1,000
500 Over 6,000 MW pipeline
supporting our goal to add
0
May 2007– 2009 2010 2011 2012
500 MW annually
May 2008
Disclosed Projects in Development (Turbines Secured) 3
Disclosed Projects in Development 3
Pipeline (Not Identified)
Already Announced (In Operation or Under Construction) 2
1 Guidance updated in March 2008
2 Projects announced or completed since our guidance and includes Buffalo Gap II (233 MW), Buffalo Gap III (170 MW),
GE Acquisition (186 MW), Mountain View I & II (67 MW) and Huanghua JV (50 MW)
3 Projects in development expected to come on line by 2012 and disclosed on the previous slide.
13
14. Solar Offers Significant
Growth Opportunities Contains Forward Looking Statements
Projected Global Solar PV Installed Capacity (MW)1
Market Drivers
Significant increase in fossil fuel prices
7,000
Government incentives
6,000
Steadily dropping cost of solar energy
%
40
from more efficient photovoltaic (PV) cells
R
and related manufacturing technology 5,000
AG
C
0
01
4,000
-2
AES
07
20
Long-term contract market is a good 3,000
fit with AES’s core contract generation
business model 2,000
Focusing on Spain, Italy and Greece;
currently 24 MW under construction in 1,000
Spain with very favorable tariffs in place
Formed joint venture with Riverstone 0
1990 1995 2000 2005 2006 2007 2008 2009 2010
in March 2008
1 Pacific Growth Equities Research, January 2008
14
15. Carbon Regulations Are Expected to Create
a Need for Carbon Reductions/Offsets Contains Forward Looking Statements
Kyoto Protocol: Phase II Potential Market Size
of 1,500–3,000 Million Tonnes of Offsets per Year
Current pipeline
AES Climate Solutions Pipeline by Region AES Climate Solutions Pipeline by Sector
includes projects
19 million tonnes
19 million tonnes
representing more
Lighting Energy than 19 million
efficiency efficiency
Latin America tonnes per year
Biofuels 1%
Biomass 1%
9%
13% 13% Already achieved
Wastewater
1.8 million tonnes
Hydro
treatment
20% 10% per year capacity1
Europe,
CIS & 25% 7%
Africa 62% Wind Near-term goal
10%
is to bring
20%
9%
6 million tonnes
Landfill
Asia & the gas per year capacity
Middle East
Animal into production by
Coal mine
waste
December 2009
methane
1 Annualized production over project life
15
16. High Quality Development Pipeline Positions
AES to Help Meet Market Demand Through 2012 Contains Forward Looking Statements
Core Power Wind Power
1
800 2
132
GW
GW
4
29 6 2.6
4.1
Global Potential AES's Base Case Growth Global Potential AES's Base Case Growth
Target by 2012 5 Target by 2012 5
Development Development
Pipeline Pipeline
Climate Solutions (GHG)
3
2,000
Million Tonnes/Year
34
19
Global Potential AES's Base Case Growth
Target by 2012 5
Development
Pipeline
1 CERA and IEA forecasts (2006)
2 Emerging Energy Research (March 2008)
3 World Bank (2007)
4 Target is to close 6,500 MW, primarily greenfield projects, 4,100 of which are expected in operation by
December 2012, and remaining 2,400 projects will still be under construction by 2012.
5 Guidance updated in March 2008
16
17. Focused Acquisition Strategy Contains Forward Looking Statements
Masinloc – the Philippines TEG and TEP – Mexico
660 MW Coal-Fired Plant 460 MW Pet Coke-Fired Plants
$930 million acquisition closed in April 2008 $611 million acquisition closed in
February 2007
Closed on ~$650 million non-recourse financing
Refinanced $454 million (upsized from
One of the lowest cost thermal $421 million) in Q4 2007 non-recourse
financing with term exceeding 15 years
plants in the system
Raised non-recourse financing with the longest
Excellent entry point into the robust and tenor in the history of Mexican power sector
growing Philippines market
Opportunity for performance improvement
Opportunity for performance improvements Last three years availability ~77% vs. AES
CFB fleet average of 92%
Lower availability during last three
years vs. similar plants in AES portfolio AES pioneered the CFB technology in the
USA – 5 power plants totaling 1,400 MW
Expansion options in operation in the USA
Existing infrastructure supports expansion
potential of up to 600 MW
17
18. Portfolio Management is Also a Good
Source of Capital to Grow Our Business Contains Forward Looking Statements
Continuous Assessment of Asset Hold Versus Market Value,
Risk Profiles, and Strategic Fit Drive Capital Market Transactions
Examples
Gener, Chile Kazakhstan
Sold 10% stake in Gener (Chile) for approximately Sold northern Kazakhstan assets for up to $1.48 billion
$300 million net proceeds to AES Corp (Oct 2007) Already received approximately $1.1 billion
Up to $381 million over next 3 years
Recorded net gain of $124 million
AES will maintain its existing business in eastern
AES still maintains 80% interest with a market cap
Kazakhstan
of more than $2 billion
Owns 1,655 MW coal-fired capacity and additional
1,000 MW hydro capacity under long-term concessions
Gener Stock Price (CLP/Share)
350
Sold 10%
Stake
300
250
200
150
100
50
0
10/26/06 1/26/07 4/26/07 7/26/07 10/26/07 1/26/08
18
19. Earnings Growth Driven by Diversified
Factors Contains Forward Looking Statements
As a Result, We Target 14–17% Growth in EPS Over the Next
Five Years (CAGR), Tied To Pipeline Projects in Each Segment
2.50
$2.10
Core Power
2.00
Wind and Climate
Solutions
$ Per Share
1.50
Organic Growth and
$1.16
Under Construction
$1.02
Projects3
$0.94
1.00
$0.64
$0.43
0.50
0.00
2
2004 2005 2006 2007 2008 2012
1 A non-GAAP financial measure. See Appendix.
2 For 2012, Diluted EPS from Continuing Operations and Adjusted EPS for the purposes of this slide are assumed to be the same and reflect the
Base Case for our March 2008 Guidance
3 Projects under construction at the time of long term guidance include 670 MW in Bulgaria (Maritza East), 701 MW in Chile
(Guacolda 3 & 4, Nueva Ventanas, and Santa Lidia), 370 MW in Jordan (Amman East) and 223 MW in Panama (Changuinola I).
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20. Forecast Shows Strong Cash Flow Growth Contains Forward Looking Statements
Net Cash from Operating
Free Cash Flow1,2 ($ in Millions)
Activities2 ($ in Millions)
3,700
2,900
2,206 2,200
2,087
1,400
1,372
1,290
2006 2007 2008 2012 2006 2007 2008 2012
1A non-GAAP financial measure. See Appendix.
2Excludes EDC, a business sold in May 2007, see appendix for reconciliation. 2012
projections reflect the Base Case for our March 2008 Guidance
20
21. Strategy to Increase Shareholder Value Contains Forward Looking Statements
Unique position
Growing free cash flow
Proven development, construction and operation capabilities
Global growth potential with:
– Organic growth of existing portfolio through performance improvements
and increased demand
– Platform expansion opportunities and presence in 29 countries
– Strong pipeline of development projects in core power, renewables and
climate solutions
Focused approach to growth:
Investing in high growth markets
Pursuing emerging opportunities (wind, solar, climate solutions)
Goal to Deliver 14–17% EPS Growth (CAGR) Through 2012
21
22. The World Needs Power… Contains Forward Looking Statements
Existing Facility
Pakistan China
Development Office
“Pakistan power shortage “China cuts aluminum
hits steel, textile mills.” output by 6% on
power curbs.”
— Reuters, 01/05/08
— Bloomberg,
South Africa 01/31/08
“South Africa, the world’s
biggest precious metals
producer, said mining
output fell 17% in March Vietnam
on power shortages.”
— Bloomberg, 05/13/08
Vietnam
“Vietnam’s Ministry of
Industry and Trade
Chile South Africa
predicts the country will
continue to suffer from a
India
“Chilean drought, power
shortage of electricity
shortages drive up
through 2020.”
“Power shortages spark
world metal prices.”
— dpa, 04/14/08
outrage in northern India.”
— The Washington Post,
5/11/08 — AP, 05/07/08
…AES is Well Positioned
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24. Reconciliation of Adjusted EPS Contains Forward Looking Statements
Forecast
Actual
2004 2005 2006 2007 2008 2009 2010 2011 2012
Diluted EPS from $1.20- $1.45- $1.70- $1.95-
$0.29 $0.56 $0.27 $0.73 $2.22
Continuing Operations $1.25 $1.65 $1.95 $2.25
FAS 133 Mark to
– 0.03 (0.05) 0.03 – – – – –
Market (Gains)
Losses
Currency
0.04 0.05 0.01 – – – – – –
Transaction Losses
Net Asset Losses
(1.06)1
0.08 0.00 0.68 0.18 – – – –
& Impairments
Debt Retirement
0.02 0.00 0.03 0.08 – – – – –
Losses
$1.20- $1.45- $1.70- $1.95-
Adjusted EPS $0.43 $0.64 $0.94 $1.02 $1.16
$1.25 $1.65 $1.95 $2.25
1Includes (a) estimated net gain of approximately $908 million or $1.31 per share primarily from sale of two indirectly owned subsidiaries in
Kazakhstan, which closed on May 29, 2008, (b) tax expense of $0.19 per share related to the repatriation of a portion of Kazakhstan sale proceeds
and $0.06 losses related to refinancing of Corporate and Subsidiary debt.
Note: For 2009-2012, Diluted EPS from Continuing Operations and Adjusted EPS for the purposes of this slide are assumed to be the same.
24
26. Definitions of Non-GAAP Financial Measures
Adjusted earnings per share – Adjusted earnings per share (a non-GAAP financial measure) is defined
as diluted earnings per share from continuing operations excluding gains or losses associated with (a)
mark-to-market amounts related to FAS 133 derivative transactions, (b) foreign currency transaction
impacts on the net monetary position related to Brazil and Argentina, (c) significant asset gains or losses
due to disposition transactions and impairments, and (d) costs related to early retirement of recourse
debt. Effective January 1, 2008, the Company has decided to include costs associated with early
retirement of non-recourse debt, in addition to recourse debt. This modification will apply prospectively
and is not reflected in the 2007 results presented in this presentation. AES believes that adjusted
earnings per share better reflects the underlying business performance of the Company, and is
considered in the Company’s internal evaluation of financial performance. Factors in this determination
include the variability associated with mark-to-market gains or losses related to certain derivative
transactions, currency gains and losses, periodic strategic decisions to dispose of certain assets which
may influence results in a given period, and the early retirement of corporate debt.
Free cash flow – Free cash flow (a non-GAAP financial measure) is defined as net cash from operating
activities less maintenance capital expenditures (including environmental capital expenditures). AES
believes that free cash flow is a useful measure for evaluating our financial condition because it
represents the amount of cash provided by operations less maintenance capital expenditures as defined
by our businesses, that may be available for investing or for repaying debt.
Liquidity – Defined as cash at the Parent Company plus availability under corporate revolver plus cash
at qualifying holding companies (QHCs). AES believes that unconsolidated Parent Company liquidity is
important to the liquidity position of AES as a Parent Company because of the non-recourse nature of
most of AES’s indebtedness.
26
27. Assumptions
Forecasted financial information is based on certain material assumptions. Such assumptions include,
but are not limited to: (a) no unforeseen external events such as wars, depressions, or economic or
political disruptions occur; (b) businesses continue to operate in a manner consistent with or better than
prior operating performance, including achievement of planned productivity improvements including
benefits of global sourcing, and in accordance with the provisions of their relevant contracts or
concessions; (c) new business opportunities are available to AES in sufficient quantity to achieve its
growth objectives; (d) no material disruptions or discontinuities occur in GDP, foreign exchange rates,
inflation or interest rates during the forecast period; and (e) material business-specific risks as described
in the Company’s SEC filings do not occur individually or cumulatively. In addition, benefits from global
sourcing include avoided costs, reduction in capital project costs versus budgetary estimates, and
projected savings based on assumed spend volume which may or may not actually be achieved. Also,
improvement in certain KPIs such as equivalent forced outage rate and commercial availability may not
improve financial performance at all facilities based on commercial terms and conditions. These
benefits will not be fully reflected in the Company’s consolidated financial results.
The cash held at qualifying holding companies (QHCs) represents cash sent to subsidiaries of the
Company domiciled outside of the U.S. Such subsidiaries had no contractual restrictions on their ability
to send cash to AES, the Parent Company. Cash at those subsidiaries was used for investment and
related activities outside of the U.S. These investments included equity investments and loans to other
foreign subsidiaries as well as development and general costs and expenses incurred outside the U.S.
Since the cash held by these QHCs is available to the Parent, AES uses the combined measure of
subsidiary distributions to Parent and QHCs as a useful measure of cash available to the Parent to meet
its international liquidity needs. AES believes that unconsolidated parent company liquidity is important
to the liquidity position of AES as a parent company because of the non-recourse nature of most of
AES’s indebtedness.
27