Attached files
| file | filename |
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| EX-99.1 - EX. 99-1_PRESS RELEASE - NORTHWESTERN CORP | ex99-1_pressrelease.htm |
| 8-K - 8-K_04/25/2012_EARNINGS RELEASE - NORTHWESTERN CORP | ek_04252012-er.htm |
Annual Shareholders Meeting
Butte, Montana April 25, 2012
Butte, Montana April 25, 2012
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Forward looking statements
During the course of this presentation, there will be forward-looking
statements within the meaning of the “safe harbor” provisions of the Private
Securities Litigation Reform Act of 1995. Forward-looking statements often
address our expected future business and financial performance, and often
contain words such as “expects,” “anticipates,” “intends,” “plans,” “believes,”
“seeks,” or “will.”
statements within the meaning of the “safe harbor” provisions of the Private
Securities Litigation Reform Act of 1995. Forward-looking statements often
address our expected future business and financial performance, and often
contain words such as “expects,” “anticipates,” “intends,” “plans,” “believes,”
“seeks,” or “will.”
The information in this presentation is based upon our current expectations as
of the date hereof unless otherwise noted. Our actual future business and
financial performance may differ materially and adversely from our
expectations expressed in any forward-looking statements. We undertake no
obligation to revise or publicly update our forward-looking statements or this
presentation for any reason. Although our expectations and beliefs are based
on reasonable assumptions, actual results may differ materially. The factors
that may affect our results are listed in certain of our press releases and
disclosed in the Company’s public filings with the SEC.
of the date hereof unless otherwise noted. Our actual future business and
financial performance may differ materially and adversely from our
expectations expressed in any forward-looking statements. We undertake no
obligation to revise or publicly update our forward-looking statements or this
presentation for any reason. Although our expectations and beliefs are based
on reasonable assumptions, actual results may differ materially. The factors
that may affect our results are listed in certain of our press releases and
disclosed in the Company’s public filings with the SEC.
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Who we are
Financial update
Investment opportunity
outlook
Financial update
Investment opportunity
outlook
Outline
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Who we are
ð Our Vision: Enriching lives through a safe,
sustainable energy future
sustainable energy future
ð Our Mission: Working together to deliver safe,
reliable and innovative energy solutions
reliable and innovative energy solutions
ð Our Values:
Safety
Excellence
Respect
Value
Integrity
Community
Environment
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Geographically positioned for success
ð Our service territory covers some of the
best wind regimes in the nation
ð We have the opportunity to provide
transmission services into two different
markets (West and
Midwest)
Midwest)
Great wind profile
Low unemployment rates
ð A fully-regulated utility located in states
with relatively stable economies with
opportunity for system investment and
grid expansion
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With competitive customer rates
Typical
Customer
bills
Customer
bills
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One hundred years later….
After a
hundred
years,
electricity
hundred
years,
electricity
is still a
great
value
great
value
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Who we are
Financial update
Investment opportunity
outlook
Financial update
Investment opportunity
outlook
Outline
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A strong credit profile
ð Long-term targeted total debt to
capitalization of 50-55% with a current
capitalization of 55.6%(1)
capitalization of 50-55% with a current
capitalization of 55.6%(1)
ð Total liquidity of $136 million as of Dec
31, ’11
ð Refinanced nearly all debt in the last 2 years
– Lowered average coupon on long-term
debt by 1.2% and extended maturities
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Reaffirming 2012 earning guidance
Reaffirming 2012 guidance range of $2.35-$2.50 based upon, but not limited
to, the following major assumptions and expectations:
to, the following major assumptions and expectations:
• A consolidated income tax rate of approximately 18% - 20% of pre-tax income;
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8.1% Cash From
Operations
Operations
6.5% Dividend Growth
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A history of earnings and dividend growth
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Solid pension funding
NorthWestern Energy’s Pension Assumptions
ð Target allocation 50% equity and 50%
fixed income
fixed income
ð Expected long-term rate of return of 7.00%
ð Discount rate of 4.40 - 4.55%
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Who we are
Financial update
Investment opportunity
outlook
Financial update
Investment opportunity
outlook
Outline
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Growing investment in our existing system
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Great investment growth opportunities
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Investment project summary
Note: Color / label indicate NorthWestern Energy's current probability of execution and timing of
expenditures.
expenditures.
Changed to Green with MPSC pre-approval
granted Feb ‘12
granted Feb ‘12
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Questions?
Thank you from all of us at NorthWestern Energy.