Tenaga Nasional Bhd · MYX:TENAGA

Tenaga Nasional Bhd — Q3 FY2008 Earnings Presentation

30 slides from Tenaga Nasional Bhd's earnings presentation, 2008

  1. Slide 1: 3rd Quarter FY2008

    3rd QUARTER FY2008 (200866-W)

  2. Slide 2: Agenda

    AGENDA O Highlights Of The Group’s Performance UO Details Of The Group’s Performance O Q&A TENAGA <J NASIONAL cera

  3. Slide 3: Highlights Of The Group's Performance

    Highlights Of The Group’s Performance “Powering The Nation.” Y.Bhg. Tan Sri Leo Moggie CHAIRMAN TENAGA <J NASIONAL cera

  4. Slide 4: 3rd Qtr Performance

    / + 3rd Qtr Performance Net profit reduced to RM298.8 million compared to RM1,091.7million in the corresponding period of FY’07 Operating expenses for the quarter rose by RM1,002.3 million 9 months Period FY’08 RM1,464 mn increase in generation cost Unit Electricity Demand Growth 5.5% - Group 6.6% -

  5. Slide 5: 9 Months Income Statement FY'07 vs FY'08

    RM mn 9 Months FY'07 9 Months FY'08 Revenue 17,194.4 18,661.6 Operating Expenses (13,261.7) (15,519.3) Other Operating Income 407.2 640.3 Operating Surplus 4,339.9 3,782.6 Finance Cost (966.8) (845.3) Transaction Gain/(Loss) 28.5 (12.3) Profit Before Tax & Translation Gain/(Loss) 3,435.1 2,958.4 Tax

  6. Slide 6: Quarterly Performance FY2008

    ) & '& 0) +# (! 1 1 2 & !& $ ( ! 3 4, 5. 6 ( ((! ' 1 ! !7 - .& ' ! , 89 1Q 2Q 3Q Total Units Sold (GWh) 22,724.8 22,456.4 22,396.3 Revenue 6,208.3 6,099.3 6,354.0 Operating Expenses 4,742.6 5,057.6 5,719.1 EBITDA Margin (%) 40.3% 33.7% 28.1% Profit Before Taxation 1,644.0 1,216.8 439.6 Net Profit at

  7. Slide 7: (!'!% ($ ! 5> ! = !%" & !' 8:0, '( & ' (!'!%

    (!'!% ($ ! 5> ! = !%" & !' 8:0, 9 '( & ' (!'!% ( ! !%; < = (' ' - = '( & ' '2 1 &" & :<. :<. + + B + + . %' . %' ()*+!, -# , !%.$ %, / $ A C:4, 4 A 80C, 0 !" #" $ % & '! (!'!% ( & > A 0,0= >A8 B, = (!'!% ( & ! .& >0A 8B, 4= >0A ,C= . $ 5> = > $ D . >0 ,= >: ,= = .: , %' (!'!% ( ! ? 2& ' !&' > &@= !

  8. Slide 8: Financial Ratios and Technical Performance

    * $ . (' ' * $ - %" !2 % ' ' & ' * ' !2 & Financial Ratios >, 89= > B, 09= % Gearing % ROA Interest Coverage , 49 Basic EPS % sen 80 >4, :9= 7 8 100 91.3 6.2 67.4 67.3 5.7 70 65.8 90 62.2 6 7 6.4 5.9 80 60 6 66.4 49.1 5 70 46.2 50 5 4.3 4.2 4 4.0 60 4.0 40 2.9 4 50 2.6 2.6 3 34.4 40 30 3 1.7 30 22.0

  9. Slide 9: F B C %!'

    $ . &1 ' / $ ! %&'( '1 (& ! ' & ( & & 0 %!' C%!' : %!' ' & 2 + B + + + + 8 8 8 8 '!' > = C, 09 4, 49 B, 9 C, 49 4, B9 & ' :, :9 4 ,9 B, 9 C, 9 C, 9 '"&'' 1 & & ,9 E ,9 8, 9 0, 9 , :9 > = :, 9 :, :9 :, 49 * ! 8 ,9 E8 , 9 B, 9 0 ,9 0 :, 9 0 0 &' % !' % :, 0 EB, , 4 0, , .' >% ' = F !' 0, B, 8B, B 0C,

  10. Slide 10: $ - + $ $$ I & ( ( &'1 (!2 '( & '

    $ - + $ 6 $$ I 6 7 & ( 7 ( &'1 (!2 '( & ' " ( ! '( & ! 1!% (5 ! !1 (!' % 7 ! %!' & " ! H6 > ' -&'1= !7 " ( '& '( & ! !7 2! & '1 & &'1 !7 2! & (!%% (& (!' % 7 %!' (!' %" !' ! " ! H6 A(!%"& 1 !(!' % ' " ( 2 (& ! (2 8 10

  11. Slide 11: Breakdown of Group's Electricity Sales

    I Breakdown of Group’s Electricity Sales 9 Months & ' () ! !" ## $% 11

  12. Slide 12: B F 0A

    + + 6 $ . + + B + 8) ) 0) ) " ( !2 ( &' F .& " .& ' 01 0A 40 '1 & 0 1 , C 01 A 00 !%% (& 0 1 0, C 01 8A 04 !% ( 0 1 , C 8) ) 0) ) " ( !2 ( &' F .& " .& ' 234 01 BA CA CA C0 CA 8B CA :C0 BA 8 CA 4B: BA 48 BA 080 BA 08 234 01 0 1 B, 88, B, B 8, : C, B 8 , B, C 8, 4, B 0, C : %!' + B : %!' + 4, 9 C, C9

  13. Slide 13: Peak Demand

    + .6 / +. J . . . * +) % , ! + 50 ! + B5 > " < $ !1= - . . 1Q 2Q 3Q 4Q 14,000 13,500 13,000 12,500 12,000 11,500 MD 11,000 10,500 Peak Demand 10,000 FY 2003 MW FY 2004 MW 9,500 FY 2005 MW FY 2006 MW 9,000 FY 2007 MW 8,500 FY 2008 MW 1 3 5 7 9 11 13 15 17 19 21 23 25 27 29 31 33 35 37 39 41 43 45 47

  14. Slide 14: Market Capitalization and Share Price

    8 , C9 ! ' & !1 ' & & 0 ' ! ' & !1 ' % & $ 4 4 4 4 ! 4 8 4 4 ! 4 8 4 2 54 2 54 2 54 2 54 6 74 4 ) 4 ( "4 : 4 8 4 2 54 6 4 6 74 ! ! ! ! ! 9 .& H &" & K& !' .&' & !1 ' Variance Market Aug'07 Nov'07 Feb'08 May'08 (Aug'07 & % Weight Shares in the Capitalization Share Price May'08) in the Index Index (mn

  15. Slide 15: Agenda

    AGENDA O Highlights Of The Group’s Performance UO Details Of The Group’s Performance O Q&A TENAGA <J NASIONAL cera 15

  16. Slide 16: Details Of The Group's Performance

    & ! "# $ ! %&'( +, - , & !# / & F - ' .! &%&1 ! $ 1 '5 @( 2 ( 16

  17. Slide 17: !(H 2 & ' " !G ( 1 F !' 1

    $ . !%"&' <6 1 ' & 2 !(H 2 & F !' 1 !; < >= '( & '" ( ! !(H >= & ' " !G ( 1 !7& &2 &'1 !F &' ' " % 0 C : ( & & %!' %!' %!' .L %' + B + + + + '( & ' !'< & 2' &'1 & M 04:, 8 , 04, 0 4, 4 8 0, &2' !% 6! H$ !( %" !2 % ' %" !2 1$ !( % ' & 5$&''' MM , 4, 8, : 8 , , 4 1 ( !' ' !(H 2 !% (2 '2 ' ! !(H.&'& %

  18. Slide 18: Electricity Sales by Sector 9 Months FY2008

    I -+ '1 & * !%% (& (! (! 1 1 !' !7 6 !% ( (! (! 1 1 !7 !7 9 months FY2008 = 6.5% 9 months FY2008 = 5.5% RM'mn (9 months FY2007 = 15.5% ) Gwh (9 months FY2007 = 5.2% ) 6.6% 7,500 35,000 7,000 8.0% 6.0% 23 #% $ & & : $ ) $ 6,500 30,000 0 1 6,000 5,500 25,000 5,000 8.1% 4,500 20,000 4,000 3,500 5.7% 3,

  19. Slide 19: Industrial Sector Sales Breakdown

    I & ! - &H1!7' ! !" 8A ( !% > .= I r on & St eel B '1 & * !%% (& ( ( & Ot her s 16. 3% &((! ' ! 8, 9 ! ! & $ ' ' & 34. 9% .&& & & , B !" 8A $ . ( !% &((! ' ! 0, C9 ! '1 & * !%% (& ( ( & E l ect r i c al & Cement & E l ect r oni cs Concr et e P et r ochemi c al Ser vi c es 18. 1% 5. 2% 7. 1% 18. 4% :

  20. Slide 20: Operating Expenses 9 Months

    $ J$ 8 , 9 '( & ' ' & !' ! &' &C, 49 '( & ' 2' !% ( ( & 9 Months 9 Months Changes RM mn Variance FY'07 FY'08 (%) Sales of Electricity 16,529.4 17,599.7 6.5% 1,070.3 IPP (5,565.7) (6,615.0) 18.9% (1,049.3) .8A C0, C%' Fuel (2,553.9) (3,048.2) 19.4% (494.3) Fuel Subsidy - SESB 316.1 396.1 25.3% 80.0 R

  21. Slide 21: Cost Per Unit Sold (sen/kWh)

    ! $ ' ! $ ' !1 !% &8 , 09 '( & ' ' & !' ! 9 months COST PER UNIT SOLD YTD FY'03 YTD FY'04 YTD FY'05 YTD FY'06 YTD FY'07 YTD FY'08 (sen/kWh) 20.2 20.2 20.1 20.2 20.7 23.0 ! $ ' !1 > '5H6 = 9! !& " & ' ! 20.7 20.9 21.7 23.0 1.0 100% 6.3 7.2 6.5 1.3 1.5 1.4 1.9 8.3 0.9 90% 3.6 3.6 3.7 3.8 17.4 17.2 17.

  22. Slide 22: ' & !' F :, 9 6 '( & 1 F B

    >$ ,. + += - * $$ '( & ' !& ' & !' F :, 9 6 !& ! '( & 1 F C, 9 >: .!' =+ + B >: .!' =+ + !& & C0, 9 !& !& 4, 9 & $$ ! > . %'= . ,8%' $$ .8 , %' $$ & >,C9= : %!' I& &'( .0 , %' .0,4%' $$ !& >,09= > , 9= !& .8A C8,B%' .8B,8%' >,89= .B :,0%' " + B + .L %' 9 >8B, C9= .8A 0B,4%' >0B, 9= > , 9= > B,C9= 0

  23. Slide 23: ) . +# : 84. . - $ ( ! & !' '< !'

    ) . +# : 84. . - $ ( ! & !' '< !' +# +# 4 +# C +# B +# +# : 2 & !& $ ( > = 0 , :, 4 , 4, 0 B4, M < > 5% ( !'' = A B C D E F G H I J K L 8C, 8 , 8 , 8 , !'' >%'= !$/0 1 $21$ 3 , 4 5$ /% 0 C, !$/%) 2 01 , , , +L +L 4 +L C +L B +L +L : ( 1 !& !' %" !' %& 1 23

  24. Slide 24: J$ B C, 9

    + - J$ 08 B 08 .& , 89 ,9 B, 9 C, 9 + ' + ' . . 8B, B9 8:,B9 4 ,9 40, 49 & & 08< < B 08<.& < . %' !& F 0A :B:, A 48 , & -&&'( 4A ::, 0 A B C, 1F 8 A C , 8 8BA ,C ! & ' >9= :,: C, & ' >9= 0 ,: 0C,C 6 1 2 & ! ! F >9= 4, 4 4,4 @ 15 !& ' >9= :8, :; , 8 : , ;B, 24

  25. Slide 25: - &H1!7' ! JO &H ' ' ! . &' ' .& #

    - J$ * J - &H1!7' ! JO 6 &H ' ' ! . &' ' .& # & & 8) ) 0) 08<.& < 08<.& < B & & & & . %' . %' . %' . %' . %' 8< "< B 0 < !2< B :< F< 08<.& < 8 *3 0-* D D D D D E>) D D E9: 6/ D D D D +)!(9 ,> !9E>3 D D D D D ),C >9 , , >8 ,= 0 , 8A 8, 0 +)!( ,> !9E>3 D D D D ),C >9 > ,= :, C > 8, B= >8 , 0= , 4 , :

  26. Slide 26: Capital Expenditure

    $ J$ CC, 9 1 ! 7 "" &'1 % %" !2 % ' New Supply : RM1,184.2mn (36.5%) 9 Months FY'07 9 Months FY'08 66.0% RM mn RM mn Sys. ImprovemenT : RM956.0mn (29.5%) 3,173.0 3,243.5 Others Others 32.1 137.4 SESB SESB 173.6 187.1 861.7 New Supply : New Supply : 963.4 Distribution 465.1 Distribution Sys. Improvem

  27. Slide 27: 08<.& < B D D

    6 .L %' !" !%"&' 08<.& < B 08<.& < 08<.& < B 08<.& < $= &1 2 ) $ D / D # $9 " F :"% %= 9 5$% $ 6 0A 8:0, B , C A8 , B 0BB, F ( 1: 5 D > 7 F * %$= $$ =$ $ & !7 F 2( A 0B, >80 , = 8A 0 , >CB , 4= >4 , C= > C, := > :B, 4= >040, = & 8A B B, >4B:, 8= 8A 4 , 4 >8A 08,B= 7 $& %= = $ D D & -&&'( 4A B8 , A B

  28. Slide 28: Agenda

    AGENDA O Highlights Of The Group’s Performance UO Details Of The Group’s Performance O Q&A TENAGA <J NASIONAL cera 28

  29. Slide 29: We now open the session for Q&A

    We now open the session for O&A TENAGA =J NASIONAL sernap 29

  30. Slide 30: Thank You

    Thank You Powering The Nation’s Progress www.tnb.com.my 30

Tenaga Nasional Berhad — Q3 FY2008 Earnings Presentation on 6ix