Transportadora De Gas Del Sur Sa Class B · BCBA:TGSU2
Transportadora De Gas Del Sur Sa Class B — Gas Transporter of the South — Q1 2024 Earnings Presentation
21 slides from Transportadora De Gas Del Sur Sa Class B's earnings presentation, May 6, 2024
Slide 1: tgs announces results for the first quarter (1Q) ended March 31, 2024
tgs announces results for the first quarter (“1Q”) ended on March 31, 2024 (1) Transportadora de Gas del Sur (" tgs ", "the Company", “us”, “our”, or “we”) is the leader in Argentina in the transportation of natural gas, transporting approximately 60% of the gas consumed in the country, through more
Slide 2: Buenos Aires, Argentina, May 6, 2024
Buenos Aires, Argentina, May 6, 2024 During the 1Q2024, total comprehensive income amounted to Ps. 55,932 million, or a Ps. 74.30 income per share (Ps. 371.51 per ADS), compared to a total comprehensive income of Ps. 21,963 million, or Ps. 29.18 per share (Ps. 145.89 per ADS) in the first quarter en
Slide 3: Operating profit for 1Q2024 totaled Ps. 65,293 million
Operating profit for 1Q2024 totaled Ps. 65,293 million, Ps. 10,637 million above 1Q2023. This variation was mainly due to higher revenues from the Midstream and Telecommunications segment (“Midstream”) and the Production and Commercialization of Natural Gas Liquids (Liquids) segments amounting to Ps
Slide 4: Breakdown of net cost of sales, administrative and selling expenses
The breakdown of net cost of sales , administrative and selling expenses , excluding depreciation, for 1Q2024 and 1Q2023 is shown in the table below:
Slide 5: Natural Gas Transportation
Natural Gas Transportation Operating loss of the Natural Gas Transportation segment was Ps. 21,761 million in 1Q2024, Ps. 18,876 million above the loss recorded in 1Q2023.
Slide 6: Natural gas transportation revenues share of total
Natural gas transportation revenues accounted for approximately 11% and 20% of total revenues in 1Q2024 and 1Q2023, respectively. Revenues from this segment are derived mainly from firm natural gas transportation contracts, which represented approximately 75% and 77% of the total revenues for this s
Slide 7: Tariff segment regulated by ENARGAS
This tariff segment, subject to ENARGAS regulation, recorded its last increase on April 29, 2023 at 95%. The increase in the operating loss was mainly related to lower revenues of Ps. 15,364 million as a result of the adjustment of its tariffs, failed to offset the negative variation of the effect o
Slide 8: Liquids segment operating profit
The operating profit of this business segment in 1Q2024 totaled Ps. 64,578 million, Ps. 17,494 million above the Ps. 47,084 million recorded in 1Q2023. This increase was mainly due to higher revenues amounting to Ps. 8,616 million, and a lower cost of natural gas consumed of Ps. 10,253 million. In t
Slide 9: Liquids volumes and revenues by market
192024 192023 Variation (in tons) Local market Ethane 70,460 102,449 (31,989) Propane 38,227 33,539 4,688 Butane 34,755 36,087 (1,332) Subtotal 143,442 172,075 (28,633) Foreign market Propane 73,916 64,216 9,700 Butane 39,175 36,221 2,954 Natural gasoline 33,913 41,563 (7,650) Subtotal 147,004 142,0
Slide 10: Operating Data - Liquids Production and Commercialization Segment
Tons 350,000 300,000 250,000 200,000 150,000 100,000 50,000 Operating Data - Liquids Production and Commercialization Segment Till 1Q2020 1Q2021 1Q2022 1Q2023 mmm Ethane mmm Propane Local Market mmm Butane Local Market mmm Propane Foreign Market mam Butane Foreign Market mmm Natural Gasoline —®— Pro
Slide 11: Midstream operating profit increase
Operating profit rose by Ps. 12,018 million mainly as a result of the Ps. 17,488 million increase in revenues during 1Q2024, which was partially offset by higher operating costs of Ps. 4,826 million. The increase in revenues was primarily explained by the nominal effect of the exchange rate on U.S.
Slide 12: Operating Information - Vaca Muerta System
Operating Information - Vaca Muerta System 25 20 15 MMm3/d 10 1Q2021 1Q2022 mam Average daily Deliveries (transportation) ——<Average firm contracted capacity (transportation) 1Q2023 1Q2024 Average natural gas injection (conditioning) —Average firm conditioning capacity (conditioning)
Slide 13: Liquidity and capital resources
Liquidity and capital resources The net variation in cash and cash equivalents for 1Q2024 and 1Q2023 is broken down as follows:
Slide 14: Funds allocation as of March 31, 2024
As of March 31, 2024 and December 31, 2023, the funds allocation was as follows:
Slide 15: Cash and fund allocations table
03/31/2024 EVYESVELY=} Cash and banks 13,116 4,051, Interest -bearing current bank accounts 250 3,114 Mutual funds 23,674 2,841, Total cash and cash equivalents 37,040 10,006 Public debt bonds 77,625 127,039 Private debt bonds 146,717 220,414 Time deposits 193,797 274,487 Shares 23,092 30,119 Total
Slide 16: 1Q2024 vs. 1Q2023 cash flow
1Q2024 vs. 1Q2023 During 1Q2024, the cash flow provided by operating activities amounted to Ps. 48,194 million, while in 1Q2023 the cash flow provided by operating activities totaled Ps. 98,081 million. The negative variation is mainly due to the increase in working capital during 1Q2024 as opposed
Slide 17: Statements of comprehensive income
Transportadora de Gas del Sur S.A. Statements of comprehensive income for the three-month periods (""1Q") ended March 31, 2024 and 2023 (In millions of Argentine pesos, except for per share and per ADS information in pesos or where otherwise indicated) 192024 192023 Natural Gas Transportation 20,934
Slide 18: Financial results for the three-month periods
Financial results for the three-month periods ended March 31, 2024 and 2023 (In million of Argentine Pesos) 192024 192023 Financial income Interest 16,833 2,808 Foreign exchange gain 20,260 41,311 Subtotal 37,094 44,119 Financial expenses Interest (G,008) (7368) Foreign exchange less, (28,365) (76,2
Slide 19: Business Segment information
Business Segment information Natural Gas Midstream —Telecommun Transportation (In million of Argentine Pesos) 192024 Depreciation (14,662) (1,724) (6,339) = (22,725) Operating (loss) / profit (21,761) 64,578 22,301 175 65,293 Depreciation (15,723) (1,743) (4,634) 7 (22,100) Operating profit (2,885)
Slide 20: Consolidated Statement of Financial Position
Consolidated Statement of Financial Position as of March 31, 2024 and December 31, 2023 (in million of Argentine pesos) 03/31/2024 12/31/2023 Assets Non Current assets Proparty, plart and equipment Lmsz4 1,505,467 Investments in associates Ea 3 Ctherfinandal assets at arrottized cost 25,723 162,25 D
Slide 21: Consolidated Statement of Cash Flows
Consolidated Statement of Cash Flows for the fiscal quarters ended March 31, 2024 and 2023 (in million of Argentine Pesos) Cash flows provided by operating activities Total comprehensive ‘come for the period 55,932 21,963 Reconciliation of net income to cash flows provided by operating activities: D
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