Apa Group · ASX:APA
Apa — Ethane Pipeline Income Fund — Investor Presentation (November 2015)
15 slides from Apa's investor presentation, Nov 19, 2015
Slide 1: Investor Presentation 19 November 2015
Investor Presentation 19 November 2015
Slide 2: Introductions and Agenda
Introductions and Agenda Introductions – Board of APA Ethane Limited, the Responsible Entity for EPX • Robert Wright – Non-Executive Director, Chairman • Rick Coles – Non-Executive Independent Director • Nancy Fox – Non-Executive Independent Director – Management • Sam Pearce – Fund Manager • Sam
Slide 3: Brief Overview
Brief Overview Principal Activity - Investment in the Moomba to Sydney Ethane Gas Pipeline, through wholly owned subsidiary, Gorodok Pty Limited. - Pipeline – 1,375km in length, running through regional NSW as well as the urban areas from Wilton into Botany. Commercial Arrangements - Pursuant to
Slide 4: Distributions in FY16 (year to date)
Distributions in FY16 (year to date) Sept Dec On 20 August 2015, EPX announced the Distribution distribution for the quarter ending September (paid (payable (cps) 2015 of 3.25 cents per security and franking 15 Oct 15) 15 Jan 16) credits of 1.07 cents per security. The cash Cash 3.25 3.25 distribu
Slide 5: FY15 Results
FY 15 Results Statutory Results FY15 Distributions $’000 % Change Period Date Cash Franking Paid per credits security per Revenue from PTA 21,288 4.2▼ (cents) security (cents) Net Profit After Tax 4,274 16.8▼ July 14 - Sept 14 15 Oct 14 3.20 1.05 Operating Cash Flow 9,030 14.4▼ Oct 14 - Dec 14 15 Ja
Slide 6: Balance Sheet Summary
Balance Sheet Summary Actual FY15 ($000) Cash held Current – cash and cash equivalents 6,459 FY15 items of note Non-current – cash on deposit 2,169 Non-current cash on deposit held to support Total cash held 8,628 bank guarantees in relation to various Trade and other receivables 1,846 contractual
Slide 7: Product Transportation Agreement changes
Product Transportation Agreement changes Background • Qenos approached EPX seeking some relief under the existing PTA tariff structure to match their volume expectations under their proposed new ethane supply arrangements. • After detailed negotiations, terms acceptable to EPX were agreed in Novembe
Slide 8: Key Issues
Key Issues Product Transportation Agreement PTA changes with effect 2015 to 2018 Distribution guidance reflects the impacts on revenues Increased revenue certainty Removal of termination risk prior to 1 Jan 2019 Non Routine Operating Costs Mine Subsidence Monitoring Due to underground coal m
Slide 9: FY16 Distribution Guidance
FY16 Distribution Guidance Distribution Sept Dec Mar June (cps) (actual) (announced) (forecast) (forecast) Cash 3.25 3.25 3.0 – 3.25 3.0 – 3.25 Franking 1.07 1.07 ~1.0 ~1.0 Total 4.32 4.32 4.0 – 4.25 4.0 – 4.25 Based on the above guidance distributions will be paid: – around 80% from EPIT fully fr
Slide 10: Ethane Pipeline – mine subsidence
Ethane Pipeline – mine subsidence Investor Presentation 10
Slide 11: Ethane Pipeline – through Sydney
Ethane Pipeline – through Sydney Investor Presentation 11
Slide 12: Bulla Park Pump Station
Bulla Park Pump Station Ethane Pump Station From Moomba To Sydney Investor Presentation 12
Slide 13: Question & Answer Session
Question & Answer Session Questions on notice 1. 1) What is the end product being produced from ethane being delivered by the pipeline? 2) Is there an "end of life" envisaged for the pipeline, either because of expected deterioration, life expectancy of the pipe, because the end product may have a
Slide 14: Disclaimer
Disclaimer This Presentation has been prepared by APA Ethane Limited (ACN 132 157 290) the responsible entity of the Ethane Pipeline Income Trust (ARSN 118 961 167) and Ethane Pipeline Income Financing Trust (ARSN 118 961 023) (Ethane Pipeline Income Fund (the Fund)). Summary information This Presen
Slide 15: Appendix
Appendix Investor Presentation 15
Ethane Pipeline Income Fund — Investor Presentation (November 2015) on 6ix