This document summarizes UGI Corporation's 2014 Q4 earnings conference call. UGI reported adjusted EPS of $1.99 for FY2014 and issued guidance of $1.88-$1.98 for FY2015 adjusted EPS. Business segments like AmeriGas saw growth in 2014 despite warmer weather. UGI also discussed strategic initiatives including partnerships in midstream infrastructure projects and an acquisition in France. The company concluded with strong financial performance in 2014 and growth opportunities across all business segments in the coming year.
Ugi 2015 q3 earnings call presentation v final finalUGI_Corporation
The document provides information for UGI Corporation's Q3 2015 earnings conference call, including:
- UGI reported adjusted EPS of $0.03 compared to $0.10 in Q3 2014, impacted by a $0.06 loss from its Totalgaz acquisition.
- Business segments like AmeriGas Propane, UGI International, and Midstream & Marketing saw lower earnings due to factors like warmer weather and currency impacts. The Gas Utility saw higher earnings from customer growth.
- UGI has available liquidity of $432.9 million and over $600 million in identified capital projects underway across its businesses to drive future growth.
Ugi 2015 q3 earnings call presentation v finalUGI_Corporation
The document provides information on UGI Corporation's Q3 2015 earnings conference call. It includes:
- UGI reported adjusted EPS of $0.03 compared to $0.10 in Q3 2014, impacted by a $0.06 loss from its Totalgaz acquisition.
- Business unit results were mixed - AmeriGas saw lower volume due to warmer weather but higher margins, while UGI International faced acquisition costs and currency impacts.
- Midstream & Marketing had higher natural gas and power margins but lower capacity management income.
- The company reiterated its FY2015 adjusted EPS guidance range despite the Totalgaz impact.
- UGI Corporation held a conference call on May 8, 2014 to discuss Q2 2014 earnings results.
- Adjusted EPS for Q2 2014 was $1.90, a 26% increase over the prior year period. FY2014 adjusted EPS guidance was increased to a range of $2.95 to $3.05.
- Results were driven by colder than normal weather in key regions, increasing natural gas demand, and strategic investments and acquisitions across UGI's businesses. However, significant supply issues and infrastructure constraints also increased costs.
Ugi 2015 q2 earnings call presentation v finalUGI_Corporation
The document provides information on UGI Corporation's Q2 2015 earnings conference call. It includes details on the company's financial results, operational performance, and strategic initiatives. UGI saw higher adjusted EPS compared to last year, driven by strong performance across its businesses. Midstream and Marketing benefited from capacity constraints. Utilities saw record profits from customer growth and colder weather. AmeriGas achieved record adjusted EBITDA despite warmer weather. UGI remains focused on growing its business through projects and acquisitions.
- Broadwind's Q1 2015 earnings conference call discussed lower than expected revenue and earnings due to production issues at its Abilene plant and delays receiving inventory at West Coast ports.
- Production has returned to normal levels at Abilene and inventory levels increased due to deferred deliveries, which will be consumed later in the year.
- Order backlog remains solid at $174M, providing visibility for the majority of revenue through Q4 2015. Management expects significant new orders in Q2 2015.
This document summarizes Husqvarna Group's Q3 2016 results. Key points include:
- Operating income increased 6% to SEK 431m and operating margin increased 0.4 percentage points to 5.9% due to operational improvements.
- EBIT was higher year-to-date despite unfavorable currency impacts and additional costs for growth initiatives.
- New financial targets were announced reflecting increased focus on profitable growth, including 3-5% average net sales growth and an EBIT margin of at least 10%.
The document summarizes Petrobras' financial results for the second quarter of 2009. It notes a 6% increase in oil and gas production compared to the previous quarter due to production boosts from several platforms. Exploration and production activities are increasing in the pre-salt region with new wells and rigs. Lifting costs remained stable while oil prices rose between the quarters. Overall the company saw significant improvements in operating income and net income compared to the previous quarter.
- Operating income rose to SEK 1,729m (1,675), though currency impacts reduced income by SEK -170m. Operational improvements are on track to fund growth initiatives and mitigate currency effects.
- While the turnaround of Consumer Brands is proceeding as planned, its North American business was impacted by unfavorable weather during the peak season.
- Continued margin improvements and trends of better results, but the priority is now to offset currency headwinds through further operational enhancements. Operating cash flow and net debt also improved.
Ugi 2015 q3 earnings call presentation v final finalUGI_Corporation
The document provides information for UGI Corporation's Q3 2015 earnings conference call, including:
- UGI reported adjusted EPS of $0.03 compared to $0.10 in Q3 2014, impacted by a $0.06 loss from its Totalgaz acquisition.
- Business segments like AmeriGas Propane, UGI International, and Midstream & Marketing saw lower earnings due to factors like warmer weather and currency impacts. The Gas Utility saw higher earnings from customer growth.
- UGI has available liquidity of $432.9 million and over $600 million in identified capital projects underway across its businesses to drive future growth.
Ugi 2015 q3 earnings call presentation v finalUGI_Corporation
The document provides information on UGI Corporation's Q3 2015 earnings conference call. It includes:
- UGI reported adjusted EPS of $0.03 compared to $0.10 in Q3 2014, impacted by a $0.06 loss from its Totalgaz acquisition.
- Business unit results were mixed - AmeriGas saw lower volume due to warmer weather but higher margins, while UGI International faced acquisition costs and currency impacts.
- Midstream & Marketing had higher natural gas and power margins but lower capacity management income.
- The company reiterated its FY2015 adjusted EPS guidance range despite the Totalgaz impact.
- UGI Corporation held a conference call on May 8, 2014 to discuss Q2 2014 earnings results.
- Adjusted EPS for Q2 2014 was $1.90, a 26% increase over the prior year period. FY2014 adjusted EPS guidance was increased to a range of $2.95 to $3.05.
- Results were driven by colder than normal weather in key regions, increasing natural gas demand, and strategic investments and acquisitions across UGI's businesses. However, significant supply issues and infrastructure constraints also increased costs.
Ugi 2015 q2 earnings call presentation v finalUGI_Corporation
The document provides information on UGI Corporation's Q2 2015 earnings conference call. It includes details on the company's financial results, operational performance, and strategic initiatives. UGI saw higher adjusted EPS compared to last year, driven by strong performance across its businesses. Midstream and Marketing benefited from capacity constraints. Utilities saw record profits from customer growth and colder weather. AmeriGas achieved record adjusted EBITDA despite warmer weather. UGI remains focused on growing its business through projects and acquisitions.
- Broadwind's Q1 2015 earnings conference call discussed lower than expected revenue and earnings due to production issues at its Abilene plant and delays receiving inventory at West Coast ports.
- Production has returned to normal levels at Abilene and inventory levels increased due to deferred deliveries, which will be consumed later in the year.
- Order backlog remains solid at $174M, providing visibility for the majority of revenue through Q4 2015. Management expects significant new orders in Q2 2015.
This document summarizes Husqvarna Group's Q3 2016 results. Key points include:
- Operating income increased 6% to SEK 431m and operating margin increased 0.4 percentage points to 5.9% due to operational improvements.
- EBIT was higher year-to-date despite unfavorable currency impacts and additional costs for growth initiatives.
- New financial targets were announced reflecting increased focus on profitable growth, including 3-5% average net sales growth and an EBIT margin of at least 10%.
The document summarizes Petrobras' financial results for the second quarter of 2009. It notes a 6% increase in oil and gas production compared to the previous quarter due to production boosts from several platforms. Exploration and production activities are increasing in the pre-salt region with new wells and rigs. Lifting costs remained stable while oil prices rose between the quarters. Overall the company saw significant improvements in operating income and net income compared to the previous quarter.
- Operating income rose to SEK 1,729m (1,675), though currency impacts reduced income by SEK -170m. Operational improvements are on track to fund growth initiatives and mitigate currency effects.
- While the turnaround of Consumer Brands is proceeding as planned, its North American business was impacted by unfavorable weather during the peak season.
- Continued margin improvements and trends of better results, but the priority is now to offset currency headwinds through further operational enhancements. Operating cash flow and net debt also improved.
- Antero Resources is the largest producer and most active driller in the Appalachian Basin.
- In 2015, Antero is targeting 40% production growth, the highest among large cap E&P companies. This growth will be driven by completing 130 operated wells and maintaining an average of 14 operated drilling rigs.
- Antero has a large inventory of undrilled locations and substantial net acreage across the Marcellus Shale, Utica Shale, and Utica Dry Gas plays that will support long-term growth.
Company website presentation (a) january 2016AnteroResources
The document provides an overview of Antero Resources Corporation and contains forward-looking statements regarding estimates, plans, expectations and guidance. It notes that actual results could differ materially from forward-looking statements due to risks and uncertainties inherent in the oil and gas business. The document highlights Antero's large production base, declining costs, hedging position, and transportation agreements. It also summarizes Antero's reserves and production growth, operating performance, liquids-rich acreage position, and status as the most active driller in Appalachia.
Highlights of the third quarter of 2014. Net sales amounted to SEK 28,784m (27,258). Sales increased by 5.6%, whereof currencies had a positive impact of 4.0%. Strong improvement in operating income for Major Appliances in Europe.
The document summarizes Petrobras' 1st quarter 2016 results. Net income decreased 123% to a loss of R$1.2 billion due to lower oil prices, weaker demand, and higher financial expenses. Oil and gas production declined 6% to 2.6 million boed. Lifting costs fell 21% in Brazil and 37% abroad. Refining costs decreased slightly. Downstream sales volumes declined 5-8% while refining utilization remained stable. Cash flow from operations fell 2% to US$6 billion. Investments declined 13% to R$15.6 billion.
Electrolux Interim Report Q2 2015 - PresentationElectrolux Group
Highlights of the second quarter of 2015. Net sales increased to SEK 31,355m (26,330). Sales increased by 19.1%, of which 7.0% was organic sales growth, 0.1% acquisitions and 12.0% currency translation. Organic sales growth across all business areas.
- Antero Resources announced its 2015 capital budget of $1.8 billion, a 41% decrease from its final 2014 capital budget of $3.05 billion.
- Key guidance for 2015 includes net daily production of 1,400 MMcfe/d and net liquids production of 33,000 Bbl/d, with a targeted 40% production growth over 2014.
- Antero owns a 70% limited partner interest in Antero Midstream Partners, which provides substantial value given AM's $4 billion market valuation as of March 2015.
- Antero Resources announced its 2015 capital budget of $1.8 billion, a 41% decrease from its final 2014 budget of $3.05 billion.
- The budget is focused on drilling and completing 130 wells in the Marcellus shale and continuing development of the Utica shale.
- Antero's guidance for 2015 includes expected production growth of 40% over 2014, reaching 1,400 MMcfe/d, driven by continued development of its liquids-rich Marcellus and Utica positions.
The document announces Petrobras' 2nd quarter 2015 results. Net income decreased 90% from the previous quarter to R$0.5 billion due to higher interest expenses, exchange rate variations, and a R$3.1 billion tax liability. Operating income fell 29% as production and oil product sales increased but costs also rose. Impairments of R$1.3 billion were recorded for various assets. Full-year capex and production targets were maintained while cash flow improved significantly in the quarter.
This document provides a year-end report and outlook for 2011 from Billerud AB. It summarizes that while Billerud achieved a 6% increase in net sales in 2011, earnings declined due to price pressure and higher costs in the second half of the year. It also announces the acquisition of UPM-Kymmene's packaging paper business in Finland, which will strengthen Billerud's packaging offerings and reduce its market pulp exposure.
Electrolux consolidated results 2016 - PresentationElectrolux Group
- Electrolux reported net sales of SEK 121 billion for full year 2016, with an EBIT margin of 5.2%.
- The company saw organic growth in EMEA, Asia/Pacific, and Professional, while Latin America was negatively impacted by weak market conditions.
- Earnings improved due to cost efficiencies, improved structural costs, and strong performance in most business areas, though Latin America continued to struggle.
- For Q1 2017, Electrolux expects negative impact from volume/price/mix and raw materials, but positive impact from net cost efficiency and currency. The outlook for full year 2017 is flat volume/price/mix and negative impact from raw materials.
Ramirent's interim report summarizes their financial performance in Q1 2014. Demand remained mixed across core markets with overall construction activity lower than the previous year. Net sales decreased 10% though were only down 2% when adjusted for divested operations. The EBITA margin of 5.2% was not satisfactory and efficiency improvement measures were intensified. Ramirent continued focusing on strategic priorities like strengthening their customer offering and achieving operational excellence.
The document provides information on Petrobras' 3rd quarter 2014 conference call, including:
- Operating income decreased 48% from the previous quarter due to write-downs and losses totaling $4.1 billion.
- Net income decreased 38% and EBITDA decreased 27% from the previous quarter.
- Oil production is forecast to be 2,125 thousand barrels per day in 2015, a 4.5% increase from 2014.
- The 2015 CAPEX budget is estimated between $31-33 billion and oil prices are projected between $50-70 per barrel.
Investor presentation of financial results and operational data of Enea Capital Group in Q3 2015. Discussion of financial results and major events in 2015.
1) Energy market and key operating data
2) Enea CG's financial results in Q3 and Q1-Q3 2015
3) Update of Strategy for 2015-2020
4) New unit in Kozienice Power Plant
5) Acqusition of LW Bogdanka
Electrolux Capital Markets Day 2013 - Presentation Tomas Eliasson, CFOElectrolux Group
Electrolux today at its capital markets day presents a status update on the Group’s strategy, focusing on actions to drive profitable growth and further improve operational excellence. President and CEO Keith McLoughlin and members of senior management will hold presentations, including an in-depth view of the operations in North America.
The document summarizes an upcoming earnings call for Celanese Corporation for the fourth quarter and full year of 2007. It lists Dave Weidman, Chairman and CEO, and Steven Sterin, Senior Vice President and CFO, as speakers on the call. The document also provides key financial highlights including year-over-year increases in 4Q 2007 net sales, operating profit, adjusted EPS, and operating EBITDA compared to 4Q 2006, as well as increases in full year 2007 net sales and operating EBITDA compared to full year 2006.
The document summarizes Celanese Corporation's 4Q 2007 earnings conference call. It includes highlights such as a 23% increase in 4Q net sales and a 52% increase in adjusted EPS compared to the same period last year. Celanese also provides guidance for 2008, forecasting adjusted EPS between $3.40-$3.70 and operating EBITDA of $1,290-$1,360 million. Segment results and details on continued strong cash generation are also presented. Key executives Dave Weidman and Steven Sterin will discuss 4Q performance and business outlook further on the earnings call.
The document summarizes Celanese Corporation's 3Q 2008 earnings conference call and webcast scheduled for October 21, 2008. It includes an agenda with the Chairman and CEO and SVP and CFO slated to speak. The document also provides forward-looking statements, non-GAAP reconciliations, and highlights of Celanese's 3Q 2008 financial results including net sales, operating profit, adjusted EPS, and operating EBITDA by business segment. Celanese's affiliates continued to deliver value through dividends in 3Q 2008.
AmeriGas has grown significantly through acquisitions since 1959. It provides propane service to all 50 states through over 2,000 locations and 8,500 employees. The company sells over 1.2 billion gallons of propane annually and has a fleet of over 8,000 vehicles. AmeriGas has a nationwide footprint and focuses on strategic growth initiatives like national accounts, cylinder exchange, and acquisitions to build on its competitive advantages of size, diversity, and experience.
The document is the transcript from a February 5, 2015 earnings conference call for UGI Corporation. It provides an overview of UGI's financial results for the first quarter of 2015, including adjusted earnings per share of $0.66. Each of UGI's business segments - AmeriGas Propane, UGI International, UGI Utilities, and Midstream & Marketing - are discussed. Weather conditions were warmer than the prior year for most segments. Overall, the company reported solid performance despite the warmer weather and foreign exchange impacts. The presentation concludes with an update on growth initiatives and a reiteration of UGI's adjusted EPS guidance range for fiscal year 2015 of $1.88 to $1.98.
El capitán cocodrilo encontró un mensaje en una botella que contenía un mapa para encontrar un tesoro enterrado por el pirata "Caracortada". El capitán cocodrilo y sus amigos siguieron las instrucciones en el mapa para encontrar las llaves y llegar al árbol y al tesoro, pero tuvieron dificultades para encontrarlo. Finalmente, la pirata "Patitos" encontró el tesoro enterrado.
Pārresoru koordinācijas centra vadītāja Mārtiņa Krieviņa prezentācija NAP2020 vadības grupas 5.sēdē 2012.gada 17.maijā. Papildu informācija: http://www.nap.lv/nap2020-vadības-grupa
- Antero Resources is the largest producer and most active driller in the Appalachian Basin.
- In 2015, Antero is targeting 40% production growth, the highest among large cap E&P companies. This growth will be driven by completing 130 operated wells and maintaining an average of 14 operated drilling rigs.
- Antero has a large inventory of undrilled locations and substantial net acreage across the Marcellus Shale, Utica Shale, and Utica Dry Gas plays that will support long-term growth.
Company website presentation (a) january 2016AnteroResources
The document provides an overview of Antero Resources Corporation and contains forward-looking statements regarding estimates, plans, expectations and guidance. It notes that actual results could differ materially from forward-looking statements due to risks and uncertainties inherent in the oil and gas business. The document highlights Antero's large production base, declining costs, hedging position, and transportation agreements. It also summarizes Antero's reserves and production growth, operating performance, liquids-rich acreage position, and status as the most active driller in Appalachia.
Highlights of the third quarter of 2014. Net sales amounted to SEK 28,784m (27,258). Sales increased by 5.6%, whereof currencies had a positive impact of 4.0%. Strong improvement in operating income for Major Appliances in Europe.
The document summarizes Petrobras' 1st quarter 2016 results. Net income decreased 123% to a loss of R$1.2 billion due to lower oil prices, weaker demand, and higher financial expenses. Oil and gas production declined 6% to 2.6 million boed. Lifting costs fell 21% in Brazil and 37% abroad. Refining costs decreased slightly. Downstream sales volumes declined 5-8% while refining utilization remained stable. Cash flow from operations fell 2% to US$6 billion. Investments declined 13% to R$15.6 billion.
Electrolux Interim Report Q2 2015 - PresentationElectrolux Group
Highlights of the second quarter of 2015. Net sales increased to SEK 31,355m (26,330). Sales increased by 19.1%, of which 7.0% was organic sales growth, 0.1% acquisitions and 12.0% currency translation. Organic sales growth across all business areas.
- Antero Resources announced its 2015 capital budget of $1.8 billion, a 41% decrease from its final 2014 capital budget of $3.05 billion.
- Key guidance for 2015 includes net daily production of 1,400 MMcfe/d and net liquids production of 33,000 Bbl/d, with a targeted 40% production growth over 2014.
- Antero owns a 70% limited partner interest in Antero Midstream Partners, which provides substantial value given AM's $4 billion market valuation as of March 2015.
- Antero Resources announced its 2015 capital budget of $1.8 billion, a 41% decrease from its final 2014 budget of $3.05 billion.
- The budget is focused on drilling and completing 130 wells in the Marcellus shale and continuing development of the Utica shale.
- Antero's guidance for 2015 includes expected production growth of 40% over 2014, reaching 1,400 MMcfe/d, driven by continued development of its liquids-rich Marcellus and Utica positions.
The document announces Petrobras' 2nd quarter 2015 results. Net income decreased 90% from the previous quarter to R$0.5 billion due to higher interest expenses, exchange rate variations, and a R$3.1 billion tax liability. Operating income fell 29% as production and oil product sales increased but costs also rose. Impairments of R$1.3 billion were recorded for various assets. Full-year capex and production targets were maintained while cash flow improved significantly in the quarter.
This document provides a year-end report and outlook for 2011 from Billerud AB. It summarizes that while Billerud achieved a 6% increase in net sales in 2011, earnings declined due to price pressure and higher costs in the second half of the year. It also announces the acquisition of UPM-Kymmene's packaging paper business in Finland, which will strengthen Billerud's packaging offerings and reduce its market pulp exposure.
Electrolux consolidated results 2016 - PresentationElectrolux Group
- Electrolux reported net sales of SEK 121 billion for full year 2016, with an EBIT margin of 5.2%.
- The company saw organic growth in EMEA, Asia/Pacific, and Professional, while Latin America was negatively impacted by weak market conditions.
- Earnings improved due to cost efficiencies, improved structural costs, and strong performance in most business areas, though Latin America continued to struggle.
- For Q1 2017, Electrolux expects negative impact from volume/price/mix and raw materials, but positive impact from net cost efficiency and currency. The outlook for full year 2017 is flat volume/price/mix and negative impact from raw materials.
Ramirent's interim report summarizes their financial performance in Q1 2014. Demand remained mixed across core markets with overall construction activity lower than the previous year. Net sales decreased 10% though were only down 2% when adjusted for divested operations. The EBITA margin of 5.2% was not satisfactory and efficiency improvement measures were intensified. Ramirent continued focusing on strategic priorities like strengthening their customer offering and achieving operational excellence.
The document provides information on Petrobras' 3rd quarter 2014 conference call, including:
- Operating income decreased 48% from the previous quarter due to write-downs and losses totaling $4.1 billion.
- Net income decreased 38% and EBITDA decreased 27% from the previous quarter.
- Oil production is forecast to be 2,125 thousand barrels per day in 2015, a 4.5% increase from 2014.
- The 2015 CAPEX budget is estimated between $31-33 billion and oil prices are projected between $50-70 per barrel.
Investor presentation of financial results and operational data of Enea Capital Group in Q3 2015. Discussion of financial results and major events in 2015.
1) Energy market and key operating data
2) Enea CG's financial results in Q3 and Q1-Q3 2015
3) Update of Strategy for 2015-2020
4) New unit in Kozienice Power Plant
5) Acqusition of LW Bogdanka
Electrolux Capital Markets Day 2013 - Presentation Tomas Eliasson, CFOElectrolux Group
Electrolux today at its capital markets day presents a status update on the Group’s strategy, focusing on actions to drive profitable growth and further improve operational excellence. President and CEO Keith McLoughlin and members of senior management will hold presentations, including an in-depth view of the operations in North America.
The document summarizes an upcoming earnings call for Celanese Corporation for the fourth quarter and full year of 2007. It lists Dave Weidman, Chairman and CEO, and Steven Sterin, Senior Vice President and CFO, as speakers on the call. The document also provides key financial highlights including year-over-year increases in 4Q 2007 net sales, operating profit, adjusted EPS, and operating EBITDA compared to 4Q 2006, as well as increases in full year 2007 net sales and operating EBITDA compared to full year 2006.
The document summarizes Celanese Corporation's 4Q 2007 earnings conference call. It includes highlights such as a 23% increase in 4Q net sales and a 52% increase in adjusted EPS compared to the same period last year. Celanese also provides guidance for 2008, forecasting adjusted EPS between $3.40-$3.70 and operating EBITDA of $1,290-$1,360 million. Segment results and details on continued strong cash generation are also presented. Key executives Dave Weidman and Steven Sterin will discuss 4Q performance and business outlook further on the earnings call.
The document summarizes Celanese Corporation's 3Q 2008 earnings conference call and webcast scheduled for October 21, 2008. It includes an agenda with the Chairman and CEO and SVP and CFO slated to speak. The document also provides forward-looking statements, non-GAAP reconciliations, and highlights of Celanese's 3Q 2008 financial results including net sales, operating profit, adjusted EPS, and operating EBITDA by business segment. Celanese's affiliates continued to deliver value through dividends in 3Q 2008.
AmeriGas has grown significantly through acquisitions since 1959. It provides propane service to all 50 states through over 2,000 locations and 8,500 employees. The company sells over 1.2 billion gallons of propane annually and has a fleet of over 8,000 vehicles. AmeriGas has a nationwide footprint and focuses on strategic growth initiatives like national accounts, cylinder exchange, and acquisitions to build on its competitive advantages of size, diversity, and experience.
The document is the transcript from a February 5, 2015 earnings conference call for UGI Corporation. It provides an overview of UGI's financial results for the first quarter of 2015, including adjusted earnings per share of $0.66. Each of UGI's business segments - AmeriGas Propane, UGI International, UGI Utilities, and Midstream & Marketing - are discussed. Weather conditions were warmer than the prior year for most segments. Overall, the company reported solid performance despite the warmer weather and foreign exchange impacts. The presentation concludes with an update on growth initiatives and a reiteration of UGI's adjusted EPS guidance range for fiscal year 2015 of $1.88 to $1.98.
El capitán cocodrilo encontró un mensaje en una botella que contenía un mapa para encontrar un tesoro enterrado por el pirata "Caracortada". El capitán cocodrilo y sus amigos siguieron las instrucciones en el mapa para encontrar las llaves y llegar al árbol y al tesoro, pero tuvieron dificultades para encontrarlo. Finalmente, la pirata "Patitos" encontró el tesoro enterrado.
Pārresoru koordinācijas centra vadītāja Mārtiņa Krieviņa prezentācija NAP2020 vadības grupas 5.sēdē 2012.gada 17.maijā. Papildu informācija: http://www.nap.lv/nap2020-vadības-grupa
Nacionālā attīstības plāna 2014.-2020.gadam (NAP2020) izstrāde. Pārresoru koordinācijas centra vadītāja Mārtiņa Krieviņa prezentācija Vidzemes plānošanas reģiona padomes sēdē Cēsīs 2012.gada 27.martā
Antonio Cánovas fue uno de los grandes escultores neoclásicos conocidos por obras como Dédalo e Ícaro y Teseo y el Minotauro. Logró gran realismo en sus esculturas al aplicar piedra pómez para evitar una apariencia fría. Su fama internacional creció con encargos como el retrato semidesnudo de Paulina Bonaparte como Venus. Su último gran trabajo fue una estatua de George Washington para el parlamento estadounidense inspirada en Dionisos del Partenón.
The document provides details on UGI Corporation's Q3 2014 earnings conference call. It includes:
- A 36% increase in adjusted EPS compared to the prior year period.
- Operational highlights across its business segments including volume growth, margin expansion, and progress on growth initiatives.
- Financial results for each business segment, noting the impact of warmer weather on volumes but margin expansion through pricing.
- Affirmation of the company's adjusted EPS guidance range.
- Announcement of a dividend increase, three-for-two stock split, and details on available liquidity.
The document provides details of UGI Corporation's Q3 2014 earnings conference call. It summarizes key financial results including a 36% increase in adjusted EPS compared to the prior year period. Operational highlights are presented for each business segment showing performance against the prior year. Weather impacts, margin and expense drivers are discussed. The document concludes with an update on liquidity, dividend increases, and affirmed guidance for the year.
UGI Corporation reported financial results for the first quarter of fiscal year 2014, ended December 31, 2013. Adjusted earnings per share increased 21% compared to the prior year period, driven by colder weather, strong operational performance, and strategic milestones including placing a new pipeline into service. All of UGI's business segments experienced higher adjusted operating income compared to the first quarter of fiscal year 2013. UGI reaffirmed its fiscal year 2014 adjusted earnings per share guidance range despite warmer than expected weather at some international operations.
UGI Corporation reported financial results for the first quarter of 2014, with adjusted earnings per share increasing 21% compared to the prior year period. Operational performance was strong across business segments due to colder weather. AmeriGas Propane saw a 19% rise in adjusted EBITDA driven by volume growth and expense control. The Gas Utility benefited from margin growth from new customers and conversions. Midstream & Marketing saw higher margins in gas marketing and electric generation, though power marketing margins declined. UGI reaffirmed full-year 2014 adjusted EPS guidance.
- UGI Corporation held a conference call on May 8, 2014 to discuss its Q2 2014 earnings results.
- Adjusted EPS for Q2 2014 was $1.90, a 26% increase over the prior year period, and full year 2014 adjusted EPS guidance was increased.
- Results were positively impacted by colder than normal weather in some regions driving higher volumes, as well as growth initiatives and acquisitions. However, operational expenses also increased due to supply issues, distribution challenges, and higher uncollectible accounts during periods of peak demand.
J.P. Morgan Global High-Yield & Leveraged Financial ConferenceAmeriGas
- AmeriGas is the largest retail propane distributor in the US, with a 15% market share. It has a nationwide distribution network and over 2,000 locations.
- The company focuses on growing through acquisitions, expanding its propane exchange business, and gaining national commercial accounts. It has achieved steady distribution growth and EBITDA growth of 3-4% annually.
- Warmer weather in Q1 2015 reduced volumes compared to the prior year, but lower propane prices are expected to benefit the company through reduced conservation and working capital needs. AmeriGas is well positioned for continued growth through its scale and integration experience.
This document provides a summary of UGI's financial results for fiscal year 2015 and guidance for fiscal year 2016. Key highlights include record earnings per share for FY2015 despite warmer weather. Growth was driven by acquisitions including Finagaz in France and organic projects. FY2016 guidance forecasts continued earnings growth of 11% driven by projects expanding infrastructure and services.
This document provides a summary of UGI's financial results for fiscal year 2015 and guidance for fiscal year 2016. Key highlights include record earnings per share for FY2015 despite warmer weather. Growth was driven by acquisitions including Finagaz in France and organic projects. FY2016 guidance forecasts continued earnings growth of 11% driven by projects expanding infrastructure and services.
This document summarizes an analyst day presentation by UGI Corporation. It discusses UGI's diverse business segments, including utilities, energy services, and propane distribution. It highlights recent investments and growth opportunities across its businesses. Management provides guidance of 6-10% annual EPS growth driven by organic growth projects and acquisitions. The utilities segment overview discusses its strong customer growth, infrastructure investments, and opportunities to expand natural gas access in Pennsylvania.
Ugi 2015 q3 earnings call presentation v finalAmeriGas
The document provides information on UGI Corporation's Q3 2015 earnings conference call. It includes:
- UGI reported adjusted EPS of $0.03 compared to $0.10 in Q3 2014, impacted by a $0.06 loss from its Totalgaz acquisition.
- Business unit results were mixed - AmeriGas saw lower volume due to warmer weather but higher margins, while UGI International faced acquisition costs and currency impacts.
- Midstream & Marketing had higher natural gas and power margins but lower capacity management income.
- The company reiterated its FY2015 adjusted EPS guidance range of $2.00-$2.10 and provided updates on growth projects.
Ugi 2015 q3 earnings call presentation v final finalAmeriGas
The document provides information for UGI Corporation's Q3 2015 earnings conference call, including:
- UGI reported adjusted EPS of $0.03 compared to $0.10 in Q3 2014, impacted by a $0.06 loss related to its Totalgaz acquisition.
- Business unit results were mixed - AmeriGas saw lower volume due to warmer weather but higher margins. UGI International was impacted by Totalgaz integration costs and currency effects. Midstream & Marketing saw higher margins.
- UGI reaffirmed its FY2015 adjusted EPS guidance range despite challenges. It continues investing in growth projects like pipelines and LNG facilities totaling over $600 million.
Ugi 2015 q2 earnings call presentation v finalAmeriGas
The document provides details on UGI Corporation's Q2 2015 earnings conference call held on May 5, 2015. It includes an overview of the company's financial results, operating performance across different business segments, and strategic initiatives. UGI reported adjusted EPS of $1.23 for Q2 2015, increased its full-year 2015 adjusted EPS guidance range to $2.00-$2.10, and discussed progress on various capital projects and acquisition opportunities.
The document provides an earnings presentation for UGI Corporation's Q1 2015 results. It includes a discussion of financial results for each of UGI's business segments, including adjusted EPS of $0.66 compared to $0.71 in Q1 2014. Operational highlights are provided for each segment, noting the impact of warmer weather on volumes. The presentation concludes with an update on Q2 and reaffirmation of the FY2015 adjusted EPS guidance range of $1.88-$1.98.
The document discusses AmeriGas' business overview and growth opportunities. It notes that AmeriGas is the largest propane provider in the US with over 2 million customers and 2,000 distribution locations. The document highlights that AmeriGas has consistently met its commitments around distribution growth, synergies from acquisitions, and EBITDA growth. It identifies key growth opportunities in cylinder exchange, national commercial accounts, and local acquisitions to continue delivering 3-4% annual EBITDA growth.
The document provides an overview of UGI Corporation, which distributes energy products including natural gas, propane, butane, and electricity. It discusses UGI's strategy of capitalizing on synergies across its businesses to grow earnings through acquisitions, capital projects, and organic growth. Key takeaways include UGI delivering outstanding shareholder returns through 6-10% annual EPS growth and a 4% annual dividend growth rate, with a track record of disciplined capital deployment and strong free cash flow generation. Business segments like UGI Utilities and UGI Energy Services are positioned for continued growth through infrastructure investments and opportunities from the Marcellus Shale.
200215 Santos 2014 full year results presentationSantos Ltd
Santos today announced a 2014 underlying net profit of $533 million, up 6 per cent on the previous year.
Full-year highlights
•Production up 6% to 54.1 mmboe
•Sales revenue up 12% to $4 billion
•EBITDAX up 8% to $2,153 million
•Operating cash flow up 13% to $1,843 million
•PNG LNG start-up ahead of schedule with the project shipping 55 LNG cargoes in the year
•GLNG more than 90% complete and on track for first LNG in the second half of 2015, within budget
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Jerry Sheridan, President and CEO of AmeriGas Partners, LP, presented at the Wells Fargo Pipeline, MLP and Energy Symposium on December 10, 2013. In his presentation, Sheridan outlined AmeriGas' competitive advantages as the largest propane distributor in the U.S., including its nationwide geographic coverage and scale benefits. He also discussed the company's strategic growth initiatives like national accounts and cylinder exchange programs, which are expected to drive earnings growth of 3-4% annually. Sheridan emphasized AmeriGas' track record of margin management and distribution growth, supported by a strong balance sheet.
Jerry Sheridan, President and CEO of AmeriGas Partners, LP, presented at the Wells Fargo Pipeline, MLP and Energy Symposium on December 10, 2013. In his presentation, Sheridan outlined AmeriGas' competitive advantages as the largest propane distributor in the U.S., including its nationwide geographic coverage and scale benefits. He also discussed the company's strategic growth initiatives like national accounts and cylinder exchange programs, which are expected to drive earnings growth of 3-4% annually. Sheridan emphasized AmeriGas' track record of margin management and distribution growth, supported by a strong balance sheet.
UGI Corporation is a distributor and marketer of energy products and services including natural gas, propane, butane, and electricity across 50 states and 16 European countries. It operates through several business units: UGI Utilities is Pennsylvania's largest gas utility serving over 600,000 customers; AmeriGas is the largest retail propane marketer in the US serving over 2 million customers; International operations distribute propane in Europe; and Midstream & Marketing sources and markets natural gas and electricity. UGI aims to generate steady growth and income through its diversified portfolio.
This document is a presentation by Jerry Sheridan, President and CEO of AmeriGas Partners, LP, given at the J.P. Morgan Global High Yield & Leveraged Finance Conference on February 24-26, 2014. The presentation provides an overview of AmeriGas, including its size and market position, competitive advantages, geographic and end-use diversity, history of margin management, and strategic growth initiatives. AmeriGas is focused on growing through acquisitions, its AmeriGas Cylinder Exchange business, and national commercial accounts while maintaining its conservative financial profile and track record of distribution growth.
Similar to UGI 2014 Q4 Earnings Call Presentation (20)
The document provides a summary of UGI Corporation's fiscal third quarter results for 2018. Some key points:
1) Adjusted EPS for Q3 2018 was $0.09, nearly doubling the results from Q3 2017, excluding a $0.09 per share reserve related to a PA PUC order requiring utilities to establish a regulatory liability for tax benefits.
2) Business units like AmeriGas, UGI International, and Midstream & Marketing performed strongly in Q3 2018 compared to the prior year, benefiting from factors like warmer weather, acquisitions, and new investments.
3) However, earnings at UGI Utilities were negatively impacted by the $22.7 million revenue reduction required
Jerry E. Sheridan, President and CEO of AmeriGas Partners, provided a recap of the company's fiscal 2018 first quarter results. Volume was flat compared to the prior year quarter due to uneven weather. Adjusted EBITDA was down 10.3% to $194.1 million compared to the prior year, impacted by late-December weather experienced after the quarter ended. Despite average propane costs being 64% higher than the prior year, unit margins were up approximately $0.01. The company's transport fleet responded well to ensure security of supply during the quarter. Growth initiatives in national accounts and cylinder exchange saw volume increases of 7% and 9% respectively compared to the prior year quarter.
Ameri gas wells-fargo_december_2017_vfinalAmeriGas
The document is a presentation by AmeriGas Partners about its business. It discusses AmeriGas' position as the largest propane distributor in the US, with over 1.8 million customers. It highlights key aspects of AmeriGas' business such as its competitive advantages, growth accomplishments, technology investments, and financial objectives. AmeriGas aims for 3-4% annual EBITDA growth through programs like national accounts and acquisitions, while maintaining its distribution growth and coverage ratios.
This document summarizes AmeriGas Partners' fiscal year 2017 results and provides an outlook for fiscal year 2018. In FY2017, AmeriGas achieved adjusted EBITDA of $551 million despite warmer-than-normal weather and higher propane costs. Growth drivers like national accounts, cylinder exchange, and acquisitions delivered record results. For FY2018, AmeriGas expects adjusted EBITDA between $650-690 million based on normal weather. Additionally, the company secured a standby equity commitment of up to $225 million to fund strategic growth investments if needed.
The document summarizes AmeriGas Partners' fiscal 2017 third quarter results. Weather was warmer than the prior year, lowering propane demand and volumes by 4%, though margins increased due to higher average propane costs. Adjusted EBITDA was $58.4 million compared to $64.6 million last year. Cylinder exchange and national accounts volumes grew. Guidance for full year fiscal 2017 Adjusted EBITDA remains at $550 million. Acquisitions and debt refinancing were also discussed.
The second quarter results presentation covered AmeriGas's performance in the fiscal year 2017 second quarter. Key points included:
- The quarter was warmer than normal and last year, leading to a 6% decline in retail propane volume sold. However, unit margins increased 2% despite higher propane costs.
- Adjusted EBITDA was $271.2 million, down 8% from the prior year second quarter.
- Growth initiatives such as cylinder exchange and national accounts saw increased volume, and the company expects to complete 3 acquisitions in the coming months.
- AmeriGas refinanced its long term debt, reducing interest rates and extending maturities with no significant debt due until 2024.
UGI reported record earnings for fiscal year 2016 despite warmer than normal weather. Earnings were driven by contributions from growth initiatives and acquisitions. Looking ahead, UGI expects continued earnings growth of 16% in fiscal year 2017 from ongoing organic growth, strategic investments, and a return to more normal weather. UGI has a strong balance sheet and cash flow to fund capital investments that will further expand its infrastructure and customer base.
- UGI reported adjusted EPS of $1.24 for Q2 2016, down from $1.26 in Q2 2015. Results were impacted by significantly warmer weather.
- Weather-adjusted demand remains strong across business units. Guidance is revised to $1.95-2.05 EPS due to warm weather in Q1-Q2.
- Business units demonstrated benefits of diversification, with lower impacts from warm weather compared to prior periods. Cost controls and margin management partly offset weather impacts.
- UGI's Q1 2016 earnings were impacted by significantly warmer weather compared to the prior year period, which lowered volumes. However, this was partially offset by benefits from investments in Midstream & Marketing and the acquisition of Finagaz.
- AmeriGas saw lower volumes due to weather that was nearly 17% warmer than the prior year, but achieved higher unit margins and lower operating expenses.
- UGI International saw higher total margin and earnings due to the Finagaz acquisition, partially offset by warmer weather impacts. Integration is progressing on or ahead of schedule.
- Utilities saw lower throughput from warmer weather, but customer additions partially offset this impact. A rate case was filed in Q2 2016.
Jerry Sheridan, President and CEO of AmeriGas Partners, LP, presented at the J.P. Morgan Global High Yield & Leveraged Finance Conference on February 24-26, 2014. The presentation provided an overview of AmeriGas, including its size and scale as the largest propane distributor in the US, its competitive advantages from geographic coverage and scale benefits, end-use diversity among its customers, a track record of maintaining margins in volatile pricing environments, and growth initiatives in areas like cylinder exchange and national accounts. AmeriGas seeks to continue growing distributions to unitholders through pursuing acquisitions and organic growth opportunities while maintaining a conservative balance sheet and credit metrics.
AmeriGas has grown significantly through acquisitions since 1959. It provides propane service to all 50 states through over 2,000 locations and 8,500 employees. The company sells over 1.2 billion gallons of propane annually and has a fleet of over 8,000 vehicles. AmeriGas has a nationwide footprint and focuses on strategic growth initiatives like national accounts, cylinder exchange, and acquisitions to build on its competitive advantages of size, diversity, and experience.
AmeriGas provides propane service to all 50 states through over 2,000 locations and 8,500 employees. It was started in 1959 and has grown significantly through 165 acquisitions since 1982, including major acquisitions such as Heritage in 2012. AmeriGas has an unmatched geographic coverage across the US and benefits from scale advantages in purchasing and synergies from acquisitions. It aims to continue growing through strategic initiatives such as national accounts, cylinder exchange, and further acquisitions.
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UnityNet World Environment Day Abraham Project 2024 Press ReleaseLHelferty
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Cleades Robinson, a respected leader in Philadelphia's police force, is known for his diplomatic and tactful approach, fostering a strong community rapport.
Methanex is the world's largest producer and supplier of methanol. We create value through our leadership in the global production, marketing and delivery of methanol to customers. View our latest Investor Presentation for more details.
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The world of blockchain and decentralized technologies is about to witness a groundbreaking event. ZKsync, the pioneering Ethereum Layer 2 network, has announced the highly anticipated airdrop of its native token, ZK. This move marks a significant milestone in the protocol's journey, empowering the community to take the reins and shape the future of this revolutionary ecosystem.
2. November 13, 2014
2
This presentation contains certain forward-looking statements that management believes to be reasonable as of today’s date only. Actual results may differ significantly because of risks and uncertainties that are difficult to predict and many of which are beyond management’s control. You should read UGI’s Annual Report on Form 10-K and quarterly reports on Form 10-Q for a more extensive list of factors that could affect results. Among them are adverse weather conditions, cost volatility and availability of all energy products, including propane, natural gas, electricity and fuel oil, increased customer conservation measures, the impact of pending and future legal proceedings, domestic and international political, regulatory and economic conditions in the United States and in foreign countries, including the current conflicts in the Middle East and those involving Russia, and currency exchange rate fluctuations (particularly the euro), the timing of development of Marcellus Shale gas production, the timing and success of our acquisitions, commercial initiatives and investments to grow our business, and our ability to successfully integrate acquired businesses and achieve anticipated synergies. UGI undertakes no obligation to release revisions to its forward-looking statements to reflect events or circumstances occurring after today.
About This Presentation
3. November 13, 2014
John Walsh
President & CEO, UGI
Kirk Oliver
Chief Financial Officer, UGI
Jerry Sheridan
President & CEO, AmeriGas
4. November 13, 2014
4
FY14 Results and FY15 Guidance
* See appendix for Adjusted EPS reconciliation.
$1.00
$1.25
$1.50
$1.75
$2.00
$2.25
2013
2014 Forecast
2015 Guidance
FY 2015 Adjusted EPS* Guidance Range: $1.88 – $1.98
Adjusted EPS*
$1.58
$1.99
$1.88 - $1.98
Weather impacts of U.S. and Europe
5. November 13, 2014
5
Strategic Milestones
Midstream & Marketing
•20% equity partner in PennEast Pipeline
o100+ mile pipeline will link Marcellus production with customers in southeast PA and central NJ
•Project Manager and Pipeline Operator UGI Utilities
•Record levels of customer additions and infrastructure investments
•Positive Response to GET Gas Program
6. November 13, 2014
6
Strategic Milestones
AmeriGas
•Strong ACE and National Accounts growth at AmeriGas
•8% ACE volume growth
•Over 20% National Account volume growth UGI International
•Purchase agreement to acquire Total’s LPG distribution business in France was signed earlier this week
•Anticipate closing in first half of calendar year 2015
8. November 13, 2014
8
Fiscal Year Weather vs. Normal
(WARMER)
COLDER
(WARMER)
3.4%
-4.9%
-14.1%
3.7%
-15.7%
0.9%
10.0%
-0.5%
-20.0%
-10.0%
0.0%
10.0%
20.0%
2014
2013
AmeriGas
Antargaz
Flaga
Gas Utility
9. November 13, 2014
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Opex includes all operating expenses, net of miscellaneous income. Excludes impact of mark-to- market changes in commodity hedging instruments. Total Margin represents total revenues less total cost of sales.
AmeriGas
VOLUME
Colder weather MARGIN
Higher retail unit margins OPEX
Higher distribution-related expenses
Higher uncollectable accounts expense
Higher casualty and general liability expense
Total Margin
394.4
472.0
4.1
25.3
31.8
66.5
8.7
$250
$300
$350
$400
$450
$500
$550
2013
Volume
Unit Margins
Ancillary sales/services
Opex & Other
D&A
2014
Operating Income, $ MM
10. November 13, 2014
10
UGI International
MARGIN
Lower volume due to warmer weather
Slightly higher total margin at Flaga
Slightly stronger Euro and British pound OPEX
Increased costs at Flaga from BP Poland acquisition
Expenses related to proposed acquisition of Total’s LPG distribution business in France
* Opex includes all operating expenses, net of miscellaneous income.
Total Margin represents total revenues less total cost of sales.
116.2
87.4
16.4
12.9
0.1
0.4
$0
$20
$40
$60
$80
$100
$120
$140
2013
Total Margin
Opex & Other
D&A
Int. expense
2014
Income Before Taxes, $ MM
11. November 13, 2014
11
Gas Utility
MARGIN
Colder weather
Higher core market and large firm delivery margins OPEX
Higher distribution system maintenance
Higher uncollectable accounts
Lower pension expense
Total Margin
* Opex includes all operating expenses, net of miscellaneous income.
Total Margin represents total revenues less total cost of sales.
159.1
199.6
33.8
14.9
(5.9)
(3.1)
0.8
$0
$50
$100
$150
$200
$250
2013
Core Market Margin
Other Margin
Opex & Other
D&A
Int. expense
2014
Income Before Taxes, $ MM
12. November 13, 2014
12
Midstream & Marketing
MARGIN
Higher capacity management, storage, and gathering margin
Higher gas marketing margin
Higher electric generation margin
Locational basis differentials OPEX
Increased operating and depreciation expenses associated with storage and natural gas gathering assets
Total Margin
* Excludes impact of mark-to-market changes in commodity hedging instruments. Total Margin represents total revenues less total cost of sales.
86.8
195.7
14.2
5.4
24.5
13.9
89.8
0.3
$0
$30
$60
$90
$120
$150
$180
$210
$240
2013
Marketing
Generation
Midstream/Other
Opex & Other
D&A
Int. Expense
2014
Income Before Taxes, $ MM
15. November 13, 2014 15
Liquidity and Guidance
Total AmeriGas
UGI
International Utilities Midstream
Corporate
& Other
Cash on Hand $419.5 $13.5 $140.2 $12.4 $8.1 $245.4
Revolving Credit Facilities $525.0 $123.8 $300.0 $240.0 NA
Accounts Receivable Facility NA NA NA 46.4 NA
Drawn on Facilities 109.0 0.0 86.3 7.5 NA
Letters of Credit 64.7 40.8 2.0 0.0 NA
Available Facilities $351.3 $83.0 $211.7 $278.9
Available Liquidity $364.8 $223.2 $224.1 $287.0
Excluding cash residing at operating subsidiaries, UGI had $225 million of cash at 09/30/14
compared with $172 million at 09/30/13.
* See appendix for Adjusted EPS reconciliation.
FY 2015 Adjusted EPS* Guidance Range: $1.88 – $1.98
17. November 13, 2014
17
Q4 Adjusted EBITDA
* See appendix for Adjusted EBITDA reconciliation
$46.5
$48.3
$30
$35
$40
$45
$50
Q4 2013
Q4 2014
Adjusted EBITDA*, $ Millions
18. November 13, 2014
18
Fiscal 2014 Adjusted EBITDA
* See appendix for Adjusted EBITDA reconciliation
$617.7
$664.8
$500
$540
$580
$620
$660
$700
FY2013
FY2014
Adjusted EBITDA*, $ Millions
19. November 13, 2014
19
AmeriGas Cylinder Exchange (ACE)
•Volume growth up 8% in fiscal 2014
•Added over 1,300 new locations
•Now 48,000 distribution locations nationwide National Accounts
•22% volume growth in fiscal 2014
•Over 50 new accounts added Local Acquisitions
•Seven deals closed in fiscal 2014
Growth Initiatives
20. November 13, 2014
20
Strong Balance Sheet
•Leverage Ratio ~ 3.6x
•Distribution coverage - 1.2x Earnings Power
•Earnings have nearly doubled from just two years ago
•FY15 Adjusted EBITDA Guidance of $670MM-$700MM
•Supports long-term goals of 3%-4% EBITDA growth and 5% distribution growth
Strategic Milestones
22. November 13, 2014
22
Operational Highlights
Gas Utility
•Added 16,000 residential heating customers and 2,000 new commercial customers
•Moving forward with innovative approaches to support continued growth, such as GET Gas
•Received the highest customer satisfaction score among large utilities in the Eastern U.S. by J.D. Power1 Midstream & Marketing
•Effective Marcellus asset utilization helped to double operating income
•Successfully concluded the first phase of Auburn III pipeline capacity expansion and the Union Dale Lateral
•Announced PennEast and Temple liquefaction expansion
1 UGI received the highest numerical score among large utilities in the Eastern U.S. in the proprietary J.D. Power 2014 Gas Utility Residential Customer Satisfaction StudySM. Study based on 69,806 online interviews ranking 10 providers in the Eastern U.S. (CT, DC, MD, MA, NH, NJ, NY, PA, RI, VA). Proprietary study results are based on experiences and perceptions of consumers surveyed September 2013-July 2014. Your experiences may vary. Visit jdpower.com.
23. November 13, 2014
23
Operational Highlights
UGI International
•Strong performance despite significantly warmer weather
•Planned Total acquisition remains on track to close in first half of calendar year 2015 AmeriGas
•Leveraged size and scale to ensure uninterrupted access to propane for customers
•Achieved strategic growth milestones in ACE and National Accounts
24. November 13, 2014
24
In Conclusion
Strongest financial performance in our history
Progress on a range of strategic growth initiatives
Significant growth opportunities across all four business segments in FY 2015 and beyond
27. November 13, 2014
27
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 net income attributable to UGI is net income attributable to UGI excluding (i) net after-tax gains and losses on commodity derivative instruments not associated with current period transactions at Midstream & Marketing and net after-tax gains and losses on commodity derivative instruments entered into beginning April 1, 2014 not associated with current period transactions at AmeriGas Propane, and (ii) those items that management regards as highly unusual in nature and not expected to recur. Volatility in net income at UGI can occur as a result of gains and losses on derivative instruments not associated with current period transactions but included in earnings in accordance with generally accepted accounting principles.
Non-GAAP financial measures are not in accordance with, or an alternative to, GAAP and should be considered in addition to, and not as a substitute for, the comparable GAAP measures. Management believes that these non- GAAP measures provide meaningful information to investors about UGI's performance because they eliminate the impact of (i) gains and losses on Midstream & Marketing's commodity derivative instruments, and gains and losses on AmeriGas Propane's commodity derivative instruments entered into beginning April 1, 2014, that are not associated with current period transactions and (ii) those items that management regards as highly unusual in nature and not expected to recur.
The following table reconciles consolidated net (loss) income attributable to UGI Corporation, the most directly comparable GAAP measure, to adjusted net (loss) income attributable to UGI, and reconciles diluted earnings (loss) per share, the most comparable GAAP measure, to adjusted diluted earnings (loss) per share, to reflect the adjustments referred to above.
28. November 13, 2014
28
Adjusted EPS to GAAP EPS Reconciliation Three Months EndedTwelve Months EndedSeptember 30,September 30,2014201320142013Adjusted diluted earnings (loss) per share: UGI Corporation earnings (loss) per share - diluted(0.11)$ (0.08)$ 1.92$ 1.60$ Net losses (gains) on Midstream & Marketing'sderivative instruments not associated with current period transactions (1)0.03 - 0.03 (0.02) Net losses on AmeriGas Propanecommodity derivative instruments entered into beginning April 1, 2014, not associated with current period transactions, net of minority interest impact 0.01 - 0.01 - Retroactive impact of change in Frenchtax law- - 0.03 - Adjusted diluted earnings (loss) per share(0.08)$ (0.08)$ 1.99$ 1.58$ (1) Includes the impact of rounding.
29. November 13, 2014
29
Adjusted Net Income to GAAP Net Income Reconciliation Three Months EndedTwelve Months EndedSeptember 30,September 30,2014201320142013Adjusted net (loss) income attributable to UGI Corporation: Net (loss) income attributable to UGI Corporation(19.8)$ (14.2)$ 337.2$ 278.1$ Net losses (gains) on Midstream & Marketing'sderivative instruments not associated with current period transactions 5.5 0.4 4.9 (4.3) Net losses on AmeriGas Propanecommodity derivative instruments entered into beginning April 1, 2014, not associated with current period transactions, net of minority interest impact1.1 0.01.7 0.0Retroactive impact of change in French tax law0.00.05.7 0.0Adjusted net (loss) income attributable to UGI Corporation(13.2)$ (13.8)$ 349.5$ 273.8$
30. November 13, 2014
30
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 Income.
EBITDA and Adjusted EBITDA are not measures of performance or financial condition under accounting principles generally accepted in the United States ("GAAP"). Management believes EBITDA and Adjusted EBITDA are meaningful non-GAAP financial measures used by investors to compare the Partnership's operating performance with that of other companies within the propane industry. The Partnership's definitions of EBITDA and Adjusted EBITDA may be different from those used by other companies.
EBITDA and Adjusted EBITDA should not be considered as alternatives to net income (loss) attributable to AmeriGas Partners, L.P. Management uses EBITDA to compare year-over-year profitability of the business without regard to capital structure as well as to compare the relative performance of the Partnership to that of other master limited partnerships without regard to their financing methods, capital structure, income taxes or historical cost basis. Management uses Adjusted EBITDA to exclude from AmeriGas Partners’ EBITDA gains and losses that competitors do not necessarily have to provide additional insight into the comparison of year-over-year profitability to that of other master limited partnerships. In view of the omission of interest, income taxes, depreciation and amortization from EBITDA and Adjusted EBITDA, management also assesses the profitability of the business by comparing net income attributable to AmeriGas Partners, L.P. for the relevant years. Management also uses EBITDA to assess the Partnership's profitability because its parent, UGI Corporation, uses the Partnership's EBITDA to assess the profitability of the Partnership, which is one of UGI Corporation’s business segments. UGI Corporation discloses the Partnership's EBITDA in its disclosures about its business segments as the profitability measure for its domestic propane segment.
31. November 13, 2014
31
AmeriGas Partners EBITDA Reconciliation 2014201320142013Net (loss) income attributable to AmeriGas Partners, L.P.(47,347)$ (54,056)$ 289,893$ 221,222$ Income tax expense407 1,155 2,611 1,671 Interest expense40,617 41,213 165,581 165,432 Depreciation37,095 41,638 154,020 159,306 Amortization10,784 10,740 43,195 43,565 EBITDA 41,556$ 40,690$ 655,300$ 591,196$ Heritage Propane acquisition and transition expense- 5,793 - 26,539 Net losses on commodity derivative instruments entered into beginning April 1, 2014, not associated with current period transactions6,714 - 9,495 - Adjusted EBITDA48,270$ 46,483$ 664,795$ 617,735$ September 30, Three Months EndedTwelve Months EndedSeptember 30,
32. November 13, 2014
32
AmeriGas Partners Adj. EBITDA Guidance Reconciliation
ForecastFiscalYearEndingSeptember 30,2015Net income attributable to AmeriGas Partners, L.P. (estimate)323,000$ Interest expense (estimate)163,000 Income tax expense (estimate)4,000 Depreciation (estimate)154,000 Amortization (estimate)41,000 Adjusted EBITDA (c) 685,000$ (c) Represents the midpoint of Adjusted EBITDA guidance range for fiscal 2015. Forecasted net income attributable to AmeriGas Partners, L.P. for fiscal 2015 excludes the impact of potential gains or losses on commodity derivative instruments not associated with current period transactions since this number cannot be reasonably estimated / forecasted.
33. November 13, 2014
Investor Relations:
610-337-1000
Daniel Platt (x1029)
plattd@ugicorp.com