Atmos Energy 2003 Annual Report Download - page 6

Since 1983, our annual
customer growth rate
has averaged over
9%. By making sound
acquisitions and
adding customers
within existing
operations, we’ve
become one of
America’s largest
pure natural gas
distributors. Along
the way, we’ve also
learned how to
efficiently integrate
new operations and
customers into a
growing Atmos Energy.
tmos Energy has a long history of being a company that works. Since 1983, we have been delivering value to
our investors, energy to our customers, improvements to our communities and investments in our employees.
Over this time, a number of characteristics have evolved that set us apart from others in the natural gas delivery
industry—giving us not only a distinctive personality, but also the strengths on which our success has been formed.
In particular, our commitment to hard work and sound acquisitions has helped us grow from 279,000 customers
in 1983 to nearly 1.7 million today, making us one of the country’s largest natural gas distributors.
We fuel our steady revenue
growth through acquisitions,
population growth and by
attracting new commercial
and industrial customers.
We have remained steadfast to our clear three-part strategy: running our utilities exceptionally well, making
sound acquisitions and expanding our nonutility operations. Our business model is unlike virtually any other
natural gas distributor’s. It’s based on our focus on gas operations, tight cost control, geographic diversity and
growth by acquisitions. Moreover, our record of consecutive annual dividend increases ranks us as one of only
284 corporations that have paid higher consecutive dividends for 10 years or longer, according to Mergent’s
list of Dividend Achievers. Our dividend has grown at a 20-year average annual compound rate of 6.44 percent.
Commercial and industrial
customers like Unilever
Bestfoods account for
almost two-fifths of our
utility gas revenues with
high-volume meters that
run almost nonstop.
We serve mainly small to
medium-size communities.
Nine major acquisitions have
enabled us to grow from
279,000 customers in 1983 to
nearly 1.7 million in 2003.
Growth through
acquisitions is one of
our key strategies
and a way to leverage
our technology and
purchasing power to
better serve customers.
American families
and value-minded
builders choose our
natural gas for clean,
low-cost energy.
Steamboat Springs,
Colorado