Investor Presentation December 2021
Strong financial position
Growing adjusted EBITDA¹
Balanced long-term capitalization
Adjusted EBITDA¹
(Millions)
$700
$600
•
Ample liquidity heading into winter
$500
•
Improved credit metrics at 9/30/21
$400
$552
-
FFO/debt4: 15.4%
$300
•
⚫ Up from 14.3% last year
$200
FY20
Target remains 15-16%
-
Holdco debt: 23.5%
Just under 30% last year
•
Targeting reduction below 20%
Long-term capitalization'
(at September 30, 2021)
Equity
Debt 3
2
¹See Adjusted EBITDA reconciliation to GAAP and Long-term capitalization in Appendix.
2Including temporary equity and excluding preferred stock.
³Including the current portion of long-term debt.
4FFO = operating income + D&A + impairments - cash paid for interest, net of amounts
capitalized-cash paid for income taxes
Total debt = long-term debt + current maturities + notes payable
Preferred stock
9
Spire | Investor presentation
December 2021
4.3%
$651
FY21
42.8%
52.9%
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