Transportadora De Gas Del Sur Sa Class B · BCBA:TGSU2
Transportadora De Gas Del Sur Sa Class B — Gas Transporter of the South — H1 2015 Earnings Presentation
35 slides from Transportadora De Gas Del Sur Sa Class B's earnings presentation, Aug 25, 2015
Slide 1: Overview
Overview For the six-month period ended June 30, 2015, the Company has reported a net income of Ps. 160.0 million, compared with a net income of Ps. 37.3 million reported in the same period last year, representing a positive variation of Ps. 122.7 million. The increase in net income during the first
Slide 2: Financial results, income tax and liquidity
This positive variation is mainly due to the lower exchange difference of Ps. 350.0 millions, principally due to the lower depreciation of the peso against the dollar US registered during the first half of 2015 and lower net liability position in US dollars after the cancellation made in May 2015 of
Slide 3: Cash variation and second quarter 2015 vs 2014
The negative variation in cash and cash equivalent of the first half of 2015 amounted to Ps. 226.4 million. This variation is mainly explained by the cash flows used in financial activities of Ps. 285.8 million, mainly due to the cancellation of the second installment of the principal of the notes m
Slide 4: Second quarter comprehensive income and revenues
During both second quarters of 2015 and 2014, the Company obtained a comprehensive income of Ps. 115.0 million. Total Net Revenues for the second quarter of 2015 increased by Ps. 21.0 million or 2.2% when compared to the same period of 2014. Net revenues from Natural Gas Transportation business segm
Slide 5: Consolidated Statements of Comprehensive Income Summary
5. Consolidated Statements of Comprehensive Income Summary Summary of the consolidated statements of comprehensive income information for the six-month periods ended June 30, 2015, 2014, 2013 and 2012:
Slide 6: Statistical Data (Physical Units)
6. Statistical Data (Physical Units)
Slide 7: Statistical data by period
Period ended June 30, Secand quarter ended June 30, 2015 2014 2013 2012 2011 2015 2014 2013 2012 2011 Gas Transportation ‘Average firm contracted capacity Gn billions of cubic feet per day (Beffd")) 284 287 2.90 2.91 2.83 2.85 284 2.89 291 2.84 Average daily deliveries (in Beffd) 219 2.29 22 2.27 2.
Slide 8: Statements of Financial Position
Ricardo I. Monge Chairman of the Board of Directors TRANSPORTADORA DE GAS DEL SUR S.A. CONDENSED INTERIM CONSOLIDATED STATEMENTS OF FINANCIAL POSITION AS OF JUNE 30, 2015 AND DECEMBER 31, 2014 (Stated in thousands of pesos as described in Note 3)
Slide 9: Statements of Changes in Equity
Ricardo I. Monge Chairman of the Board of Directors TRANSPORTADORA DE GAS DEL SUR S.A. CONDENSED INTERIM CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY FOR THE SIX-MONTH PERIODS ENDED JUNE 30, 2015 AND 2014 (Stated in thousands of pesos as described in Note 3)
Slide 10: Statements of Cash Flows
Ricardo I. Monge Chairman of the Board of Directors TRANSPORTADORA DE GAS DEL SUR S.A. CONDENSED INTERIM CONSOLIDATED STATEMENTS OF CASH FLOWS FOR THE SIX-MONTH PERIODS ENDED JUNE 30, 2015 AND 2014 (Stated in thousands of pesos as described in Note 3) ________________________________________________
Slide 11: Notes: Business Description
Ricardo I. Monge Chairman of the Board of Directors TRANSPORTADORA DE GAS DEL SUR S.A. NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS AS OF JUNE 30, 2015 AND COMPARATIVE INFORMATION (Stated in thousands of pesos as described in Note 3, unless otherwise stated) _____________________
Slide 12: Segment information, six-month period 2015
Six-month period ended June 30, 2015 Production and Natural Gas © Commer cialization of Other Transportation Liquids Services Telecommumicatis Total Revenue from sales"? 482,902 1,325,536 118,298 2477 1,948,213 Cost of sales (355,249) (867,595) (55,968) (10,335) (1,289,147) ‘Administrative expenses
Slide 13: Notes to the Financial Statements
TRANSPORTADORA DE GAS DEL SUR S.A. NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS AS OF JUNE 30, 2015 AND COMPARATIVE INFORMATION (Stated in thousands of pesos as described in Note 3, unless otherwise stated) _________________________________________________________________________
Slide 14: Other receivables by currency
The breakdown of other receivables based on its currency of origin is the following:
Slide 15: Trade receivables by currency
The breakdown of trade receivables based on its currency of origin is the following:
Slide 16: Allowance balances
Balances as of December 31, 2013 4,121 Additions : Applications - Decreases - Balances as of June 30,2014 4,121 Additions : Applications (2,525) ‘Decreases (207) Balances as of December 31, 2014 1,389, ‘Additions : Applications - Decreases = Balances as of June 30,2015 1,389 © tnetuded in Selling ex
Slide 17: Advances from customers and other payables
Advances from customers are denominated in pesos. TRANSPORTADORA DE GAS DEL SUR S.A. NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS AS OF JUNE 30, 2015 AND COMPARATIVE INFORMATION (Stated in thousands of pesos as described in Note 3, unless otherwise stated) _______________________
Slide 18: Other payables and taxes payables
Other payables are denominated in pesos. f) Taxes payables
Slide 19: Expenses by nature
TRANSPORTADORA DE GAS DEL SUR S.A. NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS AS OF JUNE 30, 2015 AND COMPARATIVE INFORMATION (Stated in thousands of pesos as described in Note 3) __________________________________________________________________________________________________
Slide 20: Net financial results
TRANSPORTADORA DE GAS DEL SUR S.A. NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS AS OF JUNE 30, 2015 AND COMPARATIVE INFORMATION (Stated in thousands of pesos as described in Note 3, unless otherwise stated) j) Net financial results
Slide 21: Financial income and expenses
For the three-month period For the six-manth period ended June 30, ended June 30, 2015 2014 2015 2014 Financial income Interest income 15,096 56,049 46,81 143,105 Farr value gains on financial nstruments through profit or loss 14,548 18318 B,197 20,492 Foreign exchange gain 24,323 3,665 50,017 175,6
Slide 22: Dividends and share of profit from associates
On May 16, 2014, according to resolutions of the Ordinary Shareholders Meeting of Telcosur, payment of cash dividends to TGS was Ps. 10,151. 11. SHARE OF PROFIT / (LOSS) FROM ASSOCIATES
Slide 23: Property, plant and equipment
TRANSPORTADORA DE GAS DEL SUR S.A. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS AS OF JUNE 30, 2015 AND COMPARATIVE INFORMATION (Stated in thousands of pesos as described in Note 3, unless otherwise stated) ___________________________________________________________________________________________
Slide 24: Loans
TRANSPORTADORA DE GAS DEL SUR S.A. NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS AS OF JUNE 30, 2015 AND COMPARATIVE INFORMATION (Stated in thousands of pesos as described in Note 3, unless otherwise stated) 13. LOANS Short-term and long-term loans as of June 30, 2015 and December
Slide 25: Loans by currency of origin
The breakdown of loans based on its currency of origin is the following:
Slide 26: Loan maturities
The maturities of the current and non-current loans as of June 30, 2015 are as follows:
Slide 27: Income tax and deferred tax
TRANSPORTADORA DE GAS DEL SUR S.A. NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS AS OF JUNE 30, 2015 AND COMPARATIVE INFORMATION (Stated in thousands of pesos as described in Note 3, unless otherwise stated) 14. INCOME TAX AND DEFERRED TAX As of the date of the issuance of these c
Slide 28: Financial instruments by category and hierarchy
TRANSPORTADORA DE GAS DEL SUR S.A. NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS AS OF JUNE 30, 2015 AND COMPARATIVE INFORMATION (Stated in thousands of pesos as described in Note 3, unless otherwise stated) 16. FINANCIAL INSTRUMENTS BY CATEGORY AND HIERARCHY 16.1 Financial instru
Slide 29: Notes to the Financial Statements
TRANSPORTADORA DE GAS DEL SUR S.A. NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS AS OF JUNE 30, 2015 AND COMPARATIVE INFORMATION (Stated in thousands of pesos as described in Note 3, unless otherwise stated)
Slide 30: Fair value measurement hierarchy and estimates
16.2 Fair value measurement hierarchy and estimates According to IFRS 13, the fair value hierarchy introduces three levels of inputs based on the lowest level of input significant to the overall fair value. These levels are: · Level 1: includes financial assets and liabilities whose fair values
Slide 31: Carrying amount and fair value of notes
The carrying amount of the financial assets and liabilities is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. As of June 30, 2015 and December 31, 2014, the carrying amount of certain fi
Slide 32: Key management compensation and related-party balances
Key management compensation The accrued amounts corresponding to the compensation of the members of the Board of Directors, the Statutory Committee and the Executive Committee for the six-month periods ended June 30, 2015 and 2014 were Ps. 14,423 and Ps. 12,017, respectively. TRANSPORTADORA DE GAS D
Slide 33: Related-party transactions, six-month period 2015
The detail of significant transactions with related parties for the six-month period ended June 30, 2015 and 2014 is as follows: Six-month period ended June 30, 2015:
Slide 34: Related-party transactions, six-month period 2014
TRANSPORTADORA DE GAS DEL SUR S.A. NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS AS OF JUNE 30, 2015 AND COMPARATIVE INFORMATION (Stated in thousands of pesos as described in Note 3, unless otherwise stated) Six-month period ended June 30, 2014:
Slide 35: Subsidiary and Associates
SUBSIDIARY AND ASSOCIATES Link: Link was created in February 2001, with the purpose of the operation of a natural gas transportation system, which links TGS’s natural gas transportation system with the Cruz del Sur S.A. pipeline. The connection pipeline extends from Buchanan, located in the high-pre
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