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KPLC Results FY 15
Chaka
#21 Posted : Friday, October 30, 2015 5:34:00 PM
Rank: Elder


Joined: 2/16/2007
Posts: 2,114
VituVingiSana wrote:
sparkly wrote:
28B in cash holdings but the company is paying a measly 30ct as final dividend.
Where did you get that info? Do you have a link to the balance sheet?

KPLC isn't a dividend payer coz it needs cash to upgrade the grid. In any case, the cash might be temporary while it waits before paying for Work-in-Progress. KPLC has huge liabilities too.


If I may ask, what is the work of KETRACO and how is it funded?
VituVingiSana
#22 Posted : Friday, October 30, 2015 6:32:58 PM
Rank: Chief


Joined: 1/3/2007
Posts: 18,103
Location: Nairobi
Chaka wrote:
VituVingiSana wrote:
sparkly wrote:
28B in cash holdings but the company is paying a measly 30ct as final dividend.
Where did you get that info? Do you have a link to the balance sheet?

KPLC isn't a dividend payer coz it needs cash to upgrade the grid. In any case, the cash might be temporary while it waits before paying for Work-in-Progress. KPLC has huge liabilities too.


If I may ask, what is the work of KETRACO and how is it funded?

KETRACO is funded by GoK (& multilateral donors) and is supposed to develop the high voltage & long distance interconnections between different producers and markets eg Lake Turkana Wind to Nairobi.

KPLC builds and maintains the grids into the urban/rural areas from the sub-stations that receive power from KETRACO. Let's call it 'distribution' for now. In Nairobi, the largest market, KPLC has been upgrading transformers, installing new lines/connections/meters and strengthening the grid.

KENGEN produces. KETRACO transports. KPLC distributes. [This is a simplified explanation]
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
mwekez@ji
#23 Posted : Friday, October 30, 2015 6:56:56 PM
Rank: Chief


Joined: 5/31/2011
Posts: 5,121
VituVingiSana wrote:
Chaka wrote:
VituVingiSana wrote:
sparkly wrote:
28B in cash holdings but the company is paying a measly 30ct as final dividend.
Where did you get that info? Do you have a link to the balance sheet?

KPLC isn't a dividend payer coz it needs cash to upgrade the grid. In any case, the cash might be temporary while it waits before paying for Work-in-Progress. KPLC has huge liabilities too.


If I may ask, what is the work of KETRACO and how is it funded?

KETRACO is funded by GoK (& multilateral donors) and is supposed to develop the high voltage & long distance interconnections between different producers and markets eg Lake Turkana Wind to Nairobi.

KPLC builds and maintains the grids into the urban/rural areas from the sub-stations that receive power from KETRACO. Let's call it 'distribution' for now. In Nairobi, the largest market, KPLC has been upgrading transformers, installing new lines/connections/meters and strengthening the grid.

KENGEN produces. KETRACO transports. KPLC distributes. [This is a simplified explanation]


@VVS, here >>> http://www.kplc.co.ke/img/full/...2030TH%20JUNE%202015.pdf

@Sparkly, 0/30 final dividend plus 0/20 interim dividend is good. As @VVS says, the 28.2B will be used in coming year in expanding/upgrading grid
jerry
#24 Posted : Friday, October 30, 2015 7:16:04 PM
Rank: Elder


Joined: 9/29/2006
Posts: 2,570
VituVingiSana wrote:
Chaka wrote:
VituVingiSana wrote:
sparkly wrote:
28B in cash holdings but the company is paying a measly 30ct as final dividend.
Where did you get that info? Do you have a link to the balance sheet?

KPLC isn't a dividend payer coz it needs cash to upgrade the grid. In any case, the cash might be temporary while it waits before paying for Work-in-Progress. KPLC has huge liabilities too.


If I may ask, what is the work of KETRACO and how is it funded?

KETRACO is funded by GoK (& multilateral donors) and is supposed to develop the high voltage & long distance interconnections between different producers and markets eg Lake Turkana Wind to Nairobi.

KPLC builds and maintains the grids into the urban/rural areas from the sub-stations that receive power from KETRACO. Let's call it 'distribution' for now. In Nairobi, the largest market, KPLC has been upgrading transformers, installing new lines/connections/meters and strengthening the grid.

KENGEN produces. KETRACO transports. KPLC distributes. [This is a simplified explanation]

Who pays the transporter?
The opposite of courage is not cowardice, it's conformity.
enyands
#25 Posted : Friday, October 30, 2015 7:31:08 PM
Rank: Elder


Joined: 12/25/2014
Posts: 2,300
Location: kenya
MaichBlack wrote:
mlennyma wrote:
I can't pay more than 12bob

A PE of 3.2???

Ama the decision is based on dividend yield?


When should we expect this dividends
VituVingiSana
#26 Posted : Friday, October 30, 2015 8:45:25 PM
Rank: Chief


Joined: 1/3/2007
Posts: 18,103
Location: Nairobi
@mwekezaji - Thanks. The cash is as a result of borrowing. The Cashflow statement shows substantial financing inflows. I expect the cash to leave as new projects are brought online or completed.

@Jerry - KPLC pays KETRACO a fee to use the transmission lines. There are minimum (capacity) charges as well as 'step' charges. This cost is passed onto consumers. I believe KETRACO is also subsidized i.e. it is not profitable at the moment.

@eynands - After the AGM [probably in Dec]. They are quite efficient.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
muandiwambeu
#27 Posted : Friday, October 30, 2015 11:03:40 PM
Rank: Veteran


Joined: 8/28/2015
Posts: 1,247
kplc is jinxed.... in a non-fuel backed operations year(33.34% decrease in fuel related revenues and 18.87% decline in fuel costs), and with enhanced cleaner energy uptake(24.3% increase in non fuel revenues), yr/yr operating margins are constant or dwindling. kplc has failed kengens enhanced geo power uptake. cheaper geo power in 2nd half was sold to mars and the pay check stolen by the ppp's and govas alien space shuttle crew. so saddening. Dr chewmo, what crappy distribution efficiency are u talking about or its all in your elementally maths or its the interpreter's error. if an inverse increase/ decrease in uptake of non fuel backed/ fuel backed power does not clearly point out that non fuel power sources turns a better profit margin then someone explain to me where did the chums go? GDC(Geo. Dev.Corpn) should probably be discouraged from exploring expensive geo power and start doing diesel powered plants and save Kenyans yr/yr power blackouts and tariff hikes.
yes, kplc sold more power units since approximately (13bs previously buying expensive power now is buying cheaper power units. but its even more ridiculous to note that more cheaper power was more expensively sold after hike of tariffs but its all translated into narda increment in revenues/ profit margins?
dr chewmo should tell us that fuel based revenues decreased aslo becoz of increased distribution inefficiencies and further tell us how these two differently generated power are applied to the grid.
or should we say kplc is doing fuels with ohan's and forex n lending money with mwang's?
non fuel -->(77,836- 62,597=15.239)===>distribution efficiency!!!!, fuel-->(25,584 - 38,377=-12.793 not 15 ofcoarse since fuel is cheaper improving returns per working capital unit)===> means????,
non fuel cost--->(44,460-30,659)=13.801===>
Fuel costs 25,835 - 38,973=-13.138===>
a 30% decline in fuel revenue costs implies almost 50% increase in non fuel revenue costs???? and a miserly 24.3% increase in non fuel revenue against
yr n june 15 /yr n june 15/ change/ % change
REVENUES
non fuel 77,836 62,597 15,239 24.34%
fuel 25,584 38,377 -12,793 -33.34%

COSTS
non fuel 44,460 30,659 13,801 45.01%
fuel 25,835 38,973 -13,138 -33.71%
a 33.71% reduction in fuel related costs results in 45% increase in costs of non fuel revenues resulting in a measurable 2% marginal increment in non fuel revenues against total revenue (14%-12%). where is the pay check for net power exports.
or do i say simulation or a surgeons knife was at work?
,Behold, a sower went forth to sow;....
VituVingiSana
#28 Posted : Friday, October 30, 2015 11:36:21 PM
Rank: Chief


Joined: 1/3/2007
Posts: 18,103
Location: Nairobi
If anyone can translate @muandiwambeu tirade into the Queen's English, please do so. I believe there are interesting points in the arguments but it's like pulling teeth.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
murchr
#29 Posted : Friday, October 30, 2015 11:40:06 PM
Rank: Elder


Joined: 2/26/2012
Posts: 15,980
VituVingiSana wrote:
If anyone can translate @muandiwambeu tirade into the Queen's English, please do so. I believe there are interesting points in the arguments but it's like pulling teeth.


Muandiwambeu is chewing his nails wondering where the money went to.
"There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
.
enyands
#30 Posted : Friday, October 30, 2015 11:52:55 PM
Rank: Elder


Joined: 12/25/2014
Posts: 2,300
Location: kenya
VituVingiSana wrote:
@mwekezaji - Thanks. The cash is as a result of borrowing. The Cashflow statement shows substantial financing inflows. I expect the cash to leave as new projects are brought online or completed.

@Jerry - KPLC pays KETRACO a fee to use the transmission lines. There are minimum (capacity) charges as well as 'step' charges. This cost is passed onto consumers. I believe KETRACO is also subsidized i.e. it is not profitable at the moment.

@eynands - After the AGM [probably in Dec]. They are quite efficient.


Thanks @vvs though niko swali moja , kwani hii kenya power inapeana dividends how many times a year ? I thought I recieved a dividend some few months ago kwani it's two times a year ?
gatoho
#31 Posted : Saturday, October 31, 2015 4:00:19 AM
Rank: Member


Joined: 1/1/2010
Posts: 511
Location: kandara, Murang'a
enyands wrote:
VituVingiSana wrote:
@mwekezaji - Thanks. The cash is as a result of borrowing. The Cashflow statement shows substantial financing inflows. I expect the cash to leave as new projects are brought online or completed.

@Jerry - KPLC pays KETRACO a fee to use the transmission lines. There are minimum (capacity) charges as well as 'step' charges. This cost is passed onto consumers. I believe KETRACO is also subsidized i.e. it is not profitable at the moment.

@eynands - After the AGM [probably in Dec]. They are quite efficient.


Thanks @vvs though niko swali moja , kwani hii kenya power inapeana dividends how many times a year ? I thought I recieved a dividend some few months ago kwani it's two times a year ?

Does interim na Final. To my angst cos I have odd lots and end up paying bank for EFT, twice a yr!
Foresight..
enyands
#32 Posted : Saturday, October 31, 2015 6:13:09 PM
Rank: Elder


Joined: 12/25/2014
Posts: 2,300
Location: kenya
gatoho wrote:
enyands wrote:
VituVingiSana wrote:
@mwekezaji - Thanks. The cash is as a result of borrowing. The Cashflow statement shows substantial financing inflows. I expect the cash to leave as new projects are brought online or completed.

@Jerry - KPLC pays KETRACO a fee to use the transmission lines. There are minimum (capacity) charges as well as 'step' charges. This cost is passed onto consumers. I believe KETRACO is also subsidized i.e. it is not profitable at the moment.

@eynands - After the AGM [probably in Dec]. They are quite efficient.


Thanks @vvs though niko swali moja , kwani hii kenya power inapeana dividends how many times a year ? I thought I recieved a dividend some few months ago kwani it's two times a year ?

Does interim na Final. To my angst cos I have odd lots and end up paying bank for EFT, twice a yr!

Thanks for the info
VituVingiSana
#33 Posted : Saturday, October 31, 2015 6:41:27 PM
Rank: Chief


Joined: 1/3/2007
Posts: 18,103
Location: Nairobi
enyands wrote:
VituVingiSana wrote:
@mwekezaji - Thanks. The cash is as a result of borrowing. The Cashflow statement shows substantial financing inflows. I expect the cash to leave as new projects are brought online or completed.

@Jerry - KPLC pays KETRACO a fee to use the transmission lines. There are minimum (capacity) charges as well as 'step' charges. This cost is passed onto consumers. I believe KETRACO is also subsidized i.e. it is not profitable at the moment.

@eynands - After the AGM [probably in Dec]. They are quite efficient.


Thanks @vvs though niko swali moja , kwani hii kenya power inapeana dividends how many times a year ? I thought I recieved a dividend some few months ago kwani it's two times a year ?
2x year this year. What a waste. They should pay it just once a year.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
enyands
#34 Posted : Saturday, October 31, 2015 10:25:20 PM
Rank: Elder


Joined: 12/25/2014
Posts: 2,300
Location: kenya
VituVingiSana wrote:
enyands wrote:
VituVingiSana wrote:
@mwekezaji - Thanks. The cash is as a result of borrowing. The Cashflow statement shows substantial financing inflows. I expect the cash to leave as new projects are brought online or completed.

@Jerry - KPLC pays KETRACO a fee to use the transmission lines. There are minimum (capacity) charges as well as 'step' charges. This cost is passed onto consumers. I believe KETRACO is also subsidized i.e. it is not profitable at the moment.

@eynands - After the AGM [probably in Dec]. They are quite efficient.


Thanks @vvs though niko swali moja , kwani hii kenya power inapeana dividends how many times a year ? I thought I recieved a dividend some few months ago kwani it's two times a year ?
2x year this year. What a waste. They should pay it just once a year.



Once is economically viable because of EFT charges and cheque material ,postal charges. U r right
Ericsson
#35 Posted : Saturday, October 31, 2015 10:59:41 PM
Rank: Elder


Joined: 12/4/2009
Posts: 10,684
Location: NAIROBI
The companies paying the dividends should absorb the EFT costs when sending dividend cheques
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
Ericsson
#36 Posted : Saturday, October 31, 2015 11:00:54 PM
Rank: Elder


Joined: 12/4/2009
Posts: 10,684
Location: NAIROBI
Dividends and not dividend cheques.
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
watesh
#37 Posted : Sunday, November 01, 2015 12:25:13 PM
Rank: Veteran


Joined: 8/10/2014
Posts: 969
Location: Kenya
enyands wrote:
VituVingiSana wrote:
enyands wrote:
VituVingiSana wrote:
@mwekezaji - Thanks. The cash is as a result of borrowing. The Cashflow statement shows substantial financing inflows. I expect the cash to leave as new projects are brought online or completed.

@Jerry - KPLC pays KETRACO a fee to use the transmission lines. There are minimum (capacity) charges as well as 'step' charges. This cost is passed onto consumers. I believe KETRACO is also subsidized i.e. it is not profitable at the moment.

@eynands - After the AGM [probably in Dec]. They are quite efficient.


Thanks @vvs though niko swali moja , kwani hii kenya power inapeana dividends how many times a year ? I thought I recieved a dividend some few months ago kwani it's two times a year ?
2x year this year. What a waste. They should pay it just once a year.

I agree here

Once is economically viable because of EFT charges and cheque material ,postal charges. U r right

VituVingiSana
#38 Posted : Sunday, November 01, 2015 6:41:48 PM
Rank: Chief


Joined: 1/3/2007
Posts: 18,103
Location: Nairobi
enyands wrote:
VituVingiSana wrote:
enyands wrote:
VituVingiSana wrote:
@mwekezaji - Thanks. The cash is as a result of borrowing. The Cashflow statement shows substantial financing inflows. I expect the cash to leave as new projects are brought online or completed.

@Jerry - KPLC pays KETRACO a fee to use the transmission lines. There are minimum (capacity) charges as well as 'step' charges. This cost is passed onto consumers. I believe KETRACO is also subsidized i.e. it is not profitable at the moment.

@eynands - After the AGM [probably in Dec]. They are quite efficient.


Thanks @vvs though niko swali moja , kwani hii kenya power inapeana dividends how many times a year ? I thought I recieved a dividend some few months ago kwani it's two times a year ?
2x year this year. What a waste. They should pay it just once a year.



Once is economically viable because of EFT charges and cheque material ,postal charges. U r right

When one has odd lots, one can get chqs for 20/-. They should not even pay those until the accumulated divided reaches 1000/-. It's a waste for other shareholders to pay 300/- to send out 20/-.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
MaichBlack
#39 Posted : Tuesday, November 03, 2015 11:55:32 AM
Rank: Elder


Joined: 7/22/2009
Posts: 7,455
MaichBlack wrote:
mlennyma wrote:
MaichBlack wrote:
mlennyma wrote:
MaichBlack wrote:
mlennyma wrote:
I can't pay more than 12bob

A PE of 3.2???

Ama the decision is based on dividend yield?

kplc will never be run to please the shareholder

And then why do you want to buy??

because my price offer factors the frustration involved

Okay. Then get your cheque book ready. You might just get a chance to buy @ that price on Friday 6th November 2015 (Next Friday).

If it doesn't happen by then, then it will not be happening any time soon!

@mlennyma - Is your cheque book out and dusted???
Never count on making a good sale. Have the purchase price be so attractive that even a mediocre sale gives good returns.
dunkang
#40 Posted : Tuesday, November 03, 2015 12:04:40 PM
Rank: Elder


Joined: 6/2/2011
Posts: 4,818
Location: -1.2107, 36.8831
Eeeeh, wazuanas, kwani whats going on in here? Anything i missed? That fall can't be becoz of the bear, is it?
Receive with simplicity everything that happens to you.” ― Rashi

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