Transportadora De Gas Del Sur Sa Class B · BCBA:TGSU2
Transportadora De Gas Del Sur Sa Class B — TGS — Q1 2021 Earnings Presentation
34 slides from Transportadora De Gas Del Sur Sa Class B's earnings presentation, May 12, 2021
Slide 1: Q1 2021 Financial Results
Q1 2021 Financial Results Kristian Johansen Fredrik Amundsen Jan Schoolmeesters CEO CFO EVP Operations & NES 12 May 2021
Slide 2: Forward-looking Statements
Forward-looking Statements All statements in this presentation other than statements of historical fact, are forward-looking statements, which are subject to a number of risks, uncertainties, and assumptions that are difficult to predict and are based upon assumptions as to future events that may no
Slide 3: Financial Highlights Q1
Financial Highlights Q1 • Q1 2021 net revenues of USD 74.8 million (segment) • Late sales USD 44.8 million • Pre-funding USD 25.3 million • Lower opex and capex result in strong free cash flow* of USD 83.9 million • Cash balance of USD 254 million plus undrawn credit facility of USD 100 million • Su
Slide 4: Other Highlights
Other Highlights • Acquisition of 4C announced • First M&A in renewables – building block for additional organic and inorganic growth • Ambition to become the leading global provider of energy data and insights • Supporting the establishment of new vessel company - PXGeo with cash and vessel commitm
Slide 5: Key projects in Q1 2021
Key projects in Q1 2021 MALVINAS 3D – Argentina ESPERITO SANTO 3D - Brazil PELOTAS 2D - Brazil • Acquisition of the 17,800 square • Covering 1,347 square kilometers of • Commencement of 8,559 km 2D kilometer Malvinas 3D multi-client the Espirito Santo basin offshore Survey in the Pelotas Basin. surv
Slide 6: Financials
Financials
Slide 7: Segment and IFRS Reporting
Segment and IFRS Reporting • Q1 presentation remains focused on Segment Reporting • Gradually shifting to IFRS going forward • IFRS will be accompanied by Alternative Performance Measures • Cash Flow • Order Generation and Backlog • Operational Progress • Return on Investments See the energy at TGS.
Slide 8: Net Revenues
Net Revenues Segment reporting See the energy at TGS.com -8-
Slide 9: Operating Expenses, EBIT, MC Investments
Operating Expenses, EBIT, MC Investments Segment reporting 1. Personnel costs and other operating expenses excluding reported non-recurring items 2. Earnings before interest and taxes excluding reported non-recurring items See the energy at TGS.com -9-
Slide 10: Income Statement
Income Statement Segment reporting See the energy at TGS.com - 10 -
Slide 11: Balance Sheet
Balance Sheet Segment reporting See the energy at TGS.com - 11 -
Slide 12: Cash Flow Statement
Cash Flow Statement See the energy at TGS.com - 12 -
Slide 13: Backlog
Backlog Segment reporting 1. Sales committed by customers but not yet recognized in the Segment Reporting accounts See the energy at TGS.com - 13 -
Slide 14: Dividends and Share Buyback
Dividends and Share Buyback • The Board has resolved to maintain the dividend to USD 0.14 per share for Q2 2021 • Ex date 19 May 2021 – payment date 2 June 2021 • In addition, the Company repurchased 160,000 shares for USD 2.7 million under the authorization of a USD 20 million share buyback program
Slide 15: Market Outlook
Market Outlook
Slide 16: The link between oil price and spending seems to be broken
The link between oil price and spending seems to be broken 3,500 80 • Oil price has increased significantly over the past six months – back at 70 3,000 pre-COVID levels 60 Multi-client spending (MUSD) 2,500 • Seismic spending has remained muted – few signs of near-term Oil price (USD/bbl) 50 2,000 r
Slide 17: Clients' preferences are changing
Clients’ preferences are changing Shell’s aim is to build material low-carbon businesses • Major International Oil Companies of significant scale by the early 2030s. Upstream will • Strong budget discipline continue to deliver vital energy supplies, which will • Incremental cash flow allocated to de
Slide 18: Vessel Market Becoming More Concentrated
Vessel Market Becoming More Concentrated Available 3D capacity (market share) • Number of available vessels reduced from 65 Rosgeo to 26 in less than 5 years PXGeo 4% 4% COSL 7% • Recent consolidation in vessel market BGP 4% • Leading player controlling almost 60% of supply • Five players controllin
Slide 19: 2021 Revised Operational Guidance
2021 Revised Operational Guidance Investment Distribution • Investment plan for 2021 remain flexible and diversified EUR • Current backlog of USD 82 million in prefunding largely relate to the 2021 4% investment plan • The current cash cost provides flexibility Onshore & WDP to increase activity as
Slide 20: Long-term Energy Market Trends
Long-term Energy Market Trends See the energy at TGS.com - 20 -
Slide 21: Strategic Priorities
Strategic Priorities New technologies in mature basins O&G data Strengthening position in South Atlantic Further growth onshore Technology Expand value chain through Data & Analytics Imaging quality and reputation businesses Capitalize on data library to create exploration upside New data Data offer
Slide 22: Strategic update
Strategic update
Slide 23: Long-term Strategic Ambition Launched
Long-term Strategic Ambition Launched 2020 energy mix 2040 energy mix Other Other Oil Oil TGS addressable TGS addressable Coal market market Coal Gas Gas Renewables Renewables Source: IEA (SDS scenario) TGS today: TGS Long-term ambition • World’s leading subsurface data company • World’s leading ene
Slide 24: Status New Energy Solutions
Status New Energy Solutions Carbon Storage Geothermal Deep Sea Minerals Wind Solar • CCS Data Sale in • Well data sale to • Developed a • 4C Offshore M&A • Reviewing M&A Q1 Utilities company geophysical value • Building wind candidates • Funded CCS • Enhancing chain for DSM resource • Assessing repr
Slide 25: Acquisition of 4C Offshore Ltd.
Acquisition of 4C Offshore Ltd. • TGS acquiring 4C Offshore Ltd. The intelligence offering • Fits perfectly with TGS’ ambitions of becoming a leading data provider to the New Energy space Offshore Wind • 4C Offshore at a glance: Global Offshore Wind Farms Turbines Subsea Cables • Based in Lowestoft,
Slide 26: New Partnerships and Collaborations
New Partnerships and Collaborations • CCS • Horisont Energi MOU: Aim to jointly research reservoir identification and monitoring solutions • E&P Supermajor: Joint research of suitability of different data types for CCS monitoring • Canadian Discovery Ltd.: Collaboration to develop a regional CO2 sto
Slide 27: The NES Ecosystem – Our Delivery Platform
The NES Ecosystem – Our Delivery Platform Data input Data lake Apps Use cases TGS data TGS apps Site screening Public data Structured Partner apps Concept evaluation Contextualized Partner data Analytics ready Customer apps Investment decisions Customer data 3rd party apps Financing • Developing the
Slide 28: Summary
Summary • Q1 2021 net revenues of USD 74.8 million • Free Cash flow of USD 83.9 million - strong return to shareholders • Quarterly dividend maintained at USD 0.14 per share • Bought back 160,000 shares under share buy-back program • 2021 financial guidance updated • Multi-client investments of appr
Slide 29: Thank you
Thank you TGS)
Slide 30: Appendix
Appendix
Slide 31: Income Statement
Income Statement IFRS See the energy at TGS.com - 31 -
Slide 32: Balance Sheet
Balance Sheet IFRS See the energy at TGS.com - 32 -
Slide 33: Reconciliation
Reconciliation IFRS See the energy at TGS.com - 33 -
Slide 34: Multi-Client Library
Multi-Client Library Segment reporting 1. Operational multi-client seismic investments See the energy at TGS.com - 34 -