Avangrid(AGR) - 2015 Q4 - Earnings Call Presentation

AVANGRID Overview - AVANGRID has $31 billion in assets and operations in 23 states[6] - AVANGRID Networks serves 31 million customers in New York and New England[6] - AVANGRID Renewables operates 63 gigawatts of electricity capacity[6] Financial Outlook and Strategy - AVANGRID's estimated earnings are expected to be approximately $2 per share in 2016[32] - The company targets a dividend payout ratio of 65%-75% through earnings growth[35] - AVANGRID plans to invest approximately $96 billion between 2016 and 2020[39] - The company estimates a net income CAGR (2014-2020) of 8-10% and an EBITDA CAGR (2014-2020) of 5-7%[33] Investments and Growth - AVANGRID plans to invest $67 billion in Networks and $28 billion in Renewables between 2016 and 2020[40] - The company anticipates rate base growth from $83 billion in 2014 to $117 billion in 2020, representing a CAGR of approximately 6%[45] - AVANGRID Renewables plans to add 1400 MW of capacity with a total capex of $28 billion through 2020[125] Financial Performance - AVANGRID's 2015 Adjusted EBITDA was $19 billion[161] - Networks contributed 71% to the 2015 Adjusted EBITDA[160] - Renewables contributed 26% to the 2015 Adjusted EBITDA[160]