Northwest Natural Gas Company (NWN) 2005年年度报告「NYSE」.pdf

1、Creating value2005ANNUAL REPORT2“We are ready for the challenges and opportunities that lie ahead.After 147 years,we remaindelivering value for all those who have placed their Mark S.Dodson,President and Chief Executive OfficerContentsLetter to Shareholders.4Interview with the Chief Financial Office

2、r.8Creating Value.10for Shareholders.12for Customers.14for Employees.16for Communities.18Company Overview.20Board of Directors&Corporate Officers.28Financial Statements Form 10-K Annual Report3dedicated to confidence in us.”4Mark Dodson,President and CEO,visits gas control in Portland.Gas controller

3、s such as John Pigott monitor the Companys 13,000 miles of pipeline.The Gas Supply Department createsvalue by maximizing storage and transportation opportunities.Letter to shareholdersDedicated to delivering valueStrategies and Execution Deliver Value Our performance last year demonstrated the value

4、 that can be produced byyears of careful planning and disciplined execution.You can see it in ourbottom line and in the many other achievements of 2005.In addition to a 13 percent increase in earnings per share,last year the Companyadded its 600,000th customer,with the landmark customer coming in ou

5、rnewest service territory,Oregons south coast.Customer growth exceeded 3percent for the 19th consecutive year,remaining well above the nationalaverage of approximately 1.5 percent for natural gas distribution companies.As our stock price increased in 2005,the Companys market capitalization hit$1 bil

6、lion for the first time putting NW Natural in the mid-cap stock range.We also continued to expand our Mist underground gas storage capacity totake advantage of favorable conditions in the interstate storage market.Thecompanys interstate storage business added 17 cents per share,anincrease of 55 perc