Enbridge Inc. · TSX:ENB
Enbridge — Q4 2010 Earnings Presentation
11 slides from Enbridge's earnings presentation, Feb 3, 2011
Slide 1: 2010 Fourth Quarter Financial Results
2010 Fourth Quarter Financial Results February 3, 2011 Patrick D. Daniel President & CEO J. Richard Bird Executive Vice President, CFO and Corporate Development
Slide 2: Outline
Outline • Strategic Update: Patrick D. Daniel • Financial Results: J. Richard Bird • Question & Answer Period 2
Slide 3: Legal Notice
Legal Notice This presentation includes certain forward looking information (FLI) to provide Enbridge shareholders and potential investors with information about Enbridge and management’s assessment of its future plans and operations, which may not be appropriate for other purposes. FLI is typically
Slide 4: Results Overview
Results Overview Fourth Quarter Full Year 2010 2009 2010 2009 Reported Earnings $326 M $300 M $963 M $1,555 M Per Share $0.87 $0.81 $2.60 $4.27 Adjusted Earnings * $238 M $239 M $984 M $855 M Per Share $0.64 $0.64 $2.66 $2.35 2010 Adjusted Earnings* Guidance Range $2.50 $2.60 $2.66 $2.70 * * Please
Slide 5: Projects In-Service in 2010
Projects In-Service in 2010 Project Capital Expenditure In Service Date North Dakota Expansion – Phase 6 US $140 million January 2010 Alberta Clipper $3.7 billion April 2010 Southern Lights $2.3 billion July 2010 Sarnia Solar Expansion (60MW) $300 million September 2010 Talbot Wind Project $285 mill
Slide 6: Projects Secured in 2010
Projects Secured in 2010 Capital Expenditure Project In Service Date ($ millions) Christina Lake Expansion 250 Q3 2011 Greenwich Wind 275 Q3 2011 Waupisoo Expansion 400 2H 2013 Cedar Point Wind 500 Q4 2011 EEP – 370 Bakken Expansion Project Q1 2013 ENF – 190 Wood Buffalo Pipeline 370 Mid 2013 Athaba
Slide 7: Fourth Quarter Financial Results
Fourth Quarter Financial Results Reported Earnings Adjusted Earnings* ($ Millions) ($ Millions) 300 Q4 304 YTD 238 Q4 393 326 Q4 $1,555 239 Q4 196 YTD 157 YTD 153 YTD $963 138 $855 $984 232 195 558 342 268 318 2009 2010 2009 2010 YTD $4.27 $2.60 $2.35 $2.66 EPS 13% EPS Growth * Please refer to Non-G
Slide 8: Segmented Earnings Variance
Segmented Earnings Variance 2010 vs. 2009 Adjusted Earnings* Fourth Quarter Year over Year -- Liquids Pipelines ++++++ - Gas Distribution + Gas Pipelines, Processing and + Energy Services + + Sponsored Investments ++++++ + Corporate - * Please refer to Non-GAAP Measures disclosure in news release 8
Slide 9: Earnings Per Share
Visible Growth Continued Industry Leading EPS Growth $4.00 10% EPS CAGR I Earnings Per Share $0.00 2009 2010 2011e 2014e (Guidance Range) Note: Adjusted EPS 9
Slide 10: Key Takeaways
Key Takeaways • 2010: A year of accomplishment and humility • Large suite of growth projects placed in service • Numerous attractive new projects secured to extend enviable growth rate • Enbridge is committed to applying the learnings from the incidents 10
Slide 11: 2010 Fourth Quarter Financial Results Q & A
2010 Fourth Quarter Financial Results February 3, 2011 Q&A 11