Transportadora De Gas Del Sur Sa Class B · BCBA:TGSU2
Transportadora De Gas Del Sur Sa Class B — Gas Transporter of the South — 9M 2013 Earnings Presentation
56 slides from Transportadora De Gas Del Sur Sa Class B's earnings presentation, Nov 20, 2013
Slide 1: Overview
Overview For the nine-month period ended September 30, 2013, the Company has reported a net income of Ps. 49.0 million, in comparison to the Ps. 131.4 million reported in the same period 2012. The decrease in the net income for the nine-month period 2013 was mainly driven by the negative impact of t
Slide 2: Income tax expense and Liquidity
This increase was mainly related to the Ps. 156.5 million increase in the foreign exchange loss generated basically by a higher devaluation of the local currency in the nine-month period of 2013, which has impacted TGS’ U.S. dollar denominated debt obtained to finance the acquisition of the fixed as
Slide 3: Third quarter 2013 revenues and costs
Total net revenues for the third quarter of 2013 increased by Ps. 30.7 million in comparison with the same period in 2012. Natural Gas transportation revenues for the third quarter of 2013 presented a Ps. 14.8 million increase over the same quarter of 2012. Higher revenues were explained by an incre
Slide 4: Consolidated Statements of Comprehensive Income Summary
5. Consolidated Statements of Comprehensive Income Summary Summary of the consolidated statements of comprehensive income information for the nine-month periods ended September 30, 2013 and 2012 :
Slide 5: Statistical Data (Physical Units)
2.83 2.81 2.73 2.87 2.91 2.84 2.84 2.24 2.14 2.23 2.59 2.43 2.39 2.28 178,306 64,092 78,144 66,972 56,666 88,697 262,619 107,212 106,646 100,041 141,989 118,806 55,525 19,276 23,713 20,552 30,174 25,400 178,306 64,092 78,144 66,972 56,666 88,697 130,479 91,013 85,335 87,603 94,346 68,091 138,685 18,
Slide 6: Condensed Interim Consolidated Statements of Financial Position
Ricardo I. Monge Board of Directors’ Chairman CONDENSED INTERIM CONSOLIDATED STATEMENTS OF FINANCIAL POSITION AS OF SEPTEMBER 30, 2013, DECEMBER 31, 2012 AND JANUARY 1, 2012 (Stated in thousands of pesos as described in Note 2)
Slide 7: Condensed Interim Consolidated Statements of Changes in Equity
Ricardo I. Monge Board of Directors’ Chairman CONDENSED INTERIM CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY FOR THE NINE-MONTH PERIODS ENDED SEPTEMBER 30, 2013 AND 2012 (Stated in thousands of pesos as described in Note 2)
Slide 8: Condensed Interim Consolidated Statements of Cash Flows
Ricardo I. Monge Board of Directors’ Chairman Notes to the Condensed Interim Consolidated Financial Statements as of September 30, 2013 and comparative information (Stated in thousands of pesos as described in Note 2) __________________________________________________________________________________
Slide 9: Business Description
Ricardo I. Monge Board of Directors’ Chairman Notes to the Condensed Interim Consolidated Financial Statements as of September 30, 2013 and comparative information (Stated in thousands of pesos as described in Note 2) __________________________________________________________________________________
Slide 10: Reconciliation of the statement of financial position
Notes to the Condensed Interim Consolidated Financial Statements as of September 30, 2013 and comparative information (Stated in thousands of pesos as described in Note 2) _____________________________________________________________________________________________________ · Reconciliation of the st
Slide 11: Reconciliation of financial position as of December 31, 2012
Notes to the Condensed Interim Consolidated Financial Statements as of September 30, 2013 and comparative information (Stated in thousands of pesos as described in Note 2) _____________________________________________________________________________________________________ · Reconciliation of the st
Slide 12: Reconciliation of results of operations, nine months 2012
Notes to the Condensed Interim Consolidated Financial Statements as of September 30, 2013 and comparative information (Stated in thousands of pesos as described in Note 2) _____________________________________________________________________________________________________ · Reconciliation of the re
Slide 13: Reconciliation of results of operations, year 2012
Notes to the Condensed Interim Consolidated Financial Statements as of September 30, 2013 and comparative information (Stated in thousands of pesos as described in Note 2) _____________________________________________________________________________________________________ · Reconciliation of the re
Slide 14: Recognition and measurement differences
Recognition and measurement differences Management has identified the following major identifiable differences in measurement: 1.1 In accordance with professional accounting standards effective at the date of transition to IFRS the Company has capitalized as part of the cost of major construction pr
Slide 15: Critical Accounting Estimates and Judgments
4. CRITICAL ACCOUNTING ESTIMATES AND JUDGMENTS The preparation of the condensed interim consolidated financial statements in conformity with generally accepted accounting principles requires management to make accounting estimates and assumptions that affect the reported amounts of assets and liabil
Slide 16: Nine-month period ended September 30, 2013 segment information
Nine-month period ended S eptember 30,2013 Production and Natural Gas Comercialization of Other Transportation Liquids Services Total Revenue fromsales 302,110 1,249,713 97,683 1,849,506 Cost of sales 81,322) (631,809) 0,511) 063,647) Administrative exp enses 72,598) 0,943) B27 (86,818) Selling expe
Slide 17: Summary of significant financial position and income items
6. SUMMARY OF SIGNIFICANT STATEMENT OF FINANCIAL POSITION AND STATEMENT OF COMPREHENSIVE INCOME ITEMS a) Other receivable
Slide 18: Other receivable by currency
Notes to the Condensed Interim Consolidated Financial Statements as of September 30, 2013 and comparative information (Stated in thousands of pesos as described in Note 2) _____________________________________________________________________________________________________ The breakdown of Other rec
Slide 19: Trade receivable by currency
The breakdown of Trade receivable according to the currency is the following:
Slide 20: Advances from customers by currency
(1) They are mainly related to the financing of TGS pipeline system expansion works for the rendering of firm transportation services contracted by such clients. The advance will be settled with the effective rendering of firm transportation service. The breakdown of Advances from customers accordin
Slide 21: Taxes payable and Trade payable
The recorded values from Taxes payable are totally denominated in pesos. g) Trade payable
Slide 22: Investments in equity-accounted investees
i) Investments in equity-accounted investees
Slide 23: (Loss) / gain on related companies
j) (Loss) / gain on related companies
Slide 24: Expenses by nature
Notes to the Condensed Interim Consolidated Financial Statements as of September 30, 2013 and comparative information (Stated in thousands of pesos as described in Note 2) ________________________________________________________________________________________________________________________________
Slide 25: Expenses by nature (continued)
____________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
Slide 26: Financial results
For the three-month periods ended September, 30 For the nine-month periods ended S eptember, 30 2013 2012 2013 2012 Financial income Interest income 37,114 23,846 76309 49,142 Foreign exhange gan 32,560 11,729 76,826 43,805 Subtotal 69,674 35,575 153,135 92,947 Financial expenses Interest ew ense (6
Slide 27: Intangible Assets
Notes to the Condensed Interim Consolidated Financial Statements as of September 30, 2013 and comparative information (Stated in thousands of pesos as described in Note 2) ______________________________________________________________________________________________________________ 8. INTANGIBLE ASS
Slide 28: Loans
9. LOANS Short-term and long-term loans as of September 30, 2013, December 31, 2012 and January 1, 2012 comprise the following:
Slide 29: Loans by currency
Notes to the Condensed Interim Consolidated Financial Statements as of September 30, 2013 and comparative information (Stated in thousands of pesos as described in Note 2) ______________________________________________________________________________________________________________ The breakdown of
Slide 30: Maturities of current and non-current loans
The maturities of the current and non-current loans as of September 30, 2013 are as follows:
Slide 31: Income tax
The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the years in which those temporary differences become recoverable. Management considers the scheduled reversal of deferred tax liabilities, projected future taxable income and tax plannin
Slide 32: Supplemental Cash Flow Information
Notes to the Condensed Interim Consolidated Financial Statements as of September 30, 2013 and comparative information (Stated in thousands of pesos as described in Note 2) ______________________________________________________________________________________________________________ 11. SUPPLEMENTAL
Slide 33: Financial Instruments by Category and Hierarchy
Notes to the Condensed Interim Consolidated Financial Statements as of September 30, 2013 and comparative information (Stated in thousands of pesos as described in Note 2) ______________________________________________________________________________________________________________ 13. FINANCIAL INS
Slide 34: Fair value measurement hierarchy and estimates
Notes to the Condensed Interim Consolidated Financial Statements as of September 30, 2013 and comparative information (Stated in thousands of pesos as described in Note 2) ______________________________________________________________________________________________________________ 13.2 Fair value m
Slide 35: Related party transactions, nine months 2013
The detail of significant transactions with related parties for the nine-month periods ended September 30, 2013 and 2012 is as follows: Notes to the Condensed Interim Consolidated Financial Statements as of September 30, 2013 and comparative information (Stated in thousands of pesos as described in
Slide 36: Related party transactions, nine months 2012
Nine-month period ended September 30, 2012:
Slide 37: Subsidiary and Affiliates
Notes to the Condensed Interim Consolidated Financial Statements as of September 30, 2013 and comparative information (Stated in thousands of pesos as described in Note 2) ______________________________________________________________________________________________________________ SUBSIDIARY AND AF
Slide 38: Consolidated Statement of Financial Position, December 31, 2012
The accompanying notes are an integral part of these consolidated financial statements. Ricardo I. Monge Board of Directors’ Chairman Exhibit I CONSOLIDATED STATEMENT OF FINANCIAL POSITION AS OF DECEMBER 31, 2012 AND JANUARY 1, 2012 (Stated in thousands of pesos as described in Note 2)
Slide 39: Consolidated Statements of Changes in Equity, 2012
The accompanying notes are an integral part of these consolidated financial statements. Ricardo I. Monge Board of Directors’ Chairman Exhibit I CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY FOR THE YEAR ENDED DECEMBER 31, 2012 AND JANUARY 1, 2012 (Stated in thousands of pesos as described in Note 2)
Slide 40: Consolidated Statements of Cash Flows, 2012
The accompanying notes are an integral part of these consolidated financial statements. Ricardo I. Monge Board of Directors’ Chairman Exhibit I CONSOLIDATED STATEMENTS OF CASH FLOWS FOR THE YEAR ENDED DECEMBER 31, 2012 (Stated in thousands of pesos)
Slide 41: Business Description
The accompanying notes are an integral part of these consolidated financial statements. For supplemental cash flow information, see Note 6. Ricardo I. Monge Board of Directors’ Chairman Exhibit I Notes to the Consolidated Financial Statements as of December 31, 2012 and comparative information (Stat
Slide 42: Reconciliation of results of operations as of December 31, 2012
Exhibit I Notes to the Consolidated Financial Statements as of December 31, 2012 and comparative information (Stated in thousands of pesos as described in Note 2) · Reconciliation of results of operations as of December 31, 2012
Slide 43: Recognition and measurement differences
Recognition and measurement differences Management has identified the following major identifiable differences in measurement: 1.4 In accordance with professional accounting standards effective at the date of transition to IFRS the Company has capitalized as part of the cost of major construction pr
Slide 44: Other receivable by currency
The breakdown of Other receivable according to the currency is the following:
Slide 45: Trade receivable by currency
The breakdown of Trade receivable according to the currency is the following:
Slide 46: Advances from customers by currency
(1) They are mainly related to the financing of TGS pipeline system expansion works for the rendering of firm transportation services contracted by such clients. The advance will be settled with the effective rendering of firm transportation service. The breakdown of Advances from customers accordin
Slide 47: Financial results, net
Exhibit I Notes to the condensed consolidated financial Statements as of December 31, 2012 and comparative information (Stated in thousands of pesos as described in Note 2) __________________________________________________________________________________________________________ 8.i. Financial resul
Slide 48: Other operating expenses
8.j. Other operating expenses
Slide 49: Property, Plant and Equipment
(1) Included in Other payable. Exhibit I Notes to the Consolidated Financial Statements as of December 31, 2012 and comparative information (Stated in thousands of pesos as described in Note 2) __________________________________________________________________________________________________________
Slide 50: Intangible Assets
Exhibit I Notes to the Consolidated Financial Statements as of December 31, 2012 and comparative information (Stated in thousands of pesos as described in Note 2) __________________________________________________________________________________________________________ 11. INTANGIBLE ASSETS
Slide 51: Loans
12. LOANS Short-term and long-term loans as of December 31, 2012 and January 1, 2012 comprise the following:
Slide 52: Loans by currency
The breakdown of Loans according to the currency is the following:
Slide 53: Income tax
The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the years in which those temporary differences become recoverable. Management considers the scheduled reversal of deferred tax liabilities, projected future taxable income and tax plannin
Slide 54: Fair value measurement hierarchy and estimates
Fair value measurement hierarchy and estimates According to IFRS, 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 – inputs are based upon unadjusted quoted prices for identical instrument
Slide 55: Related party transactions, 2012
The detail of significant transactions with related parties for the years ended December 31, 2012 is as follows:
Slide 56: Subsidiary and Affiliates
20. SUBSIDIARY AND AFFILIATES 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
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