Transportadora De Gas Del Sur Sa Class B · BCBA:TGSU2
Transportadora De Gas Del Sur Sa Class B — Gas Transporter of the South — Q1 2025 Earnings Presentation
42 slides from Transportadora De Gas Del Sur Sa Class B's earnings presentation, May 20, 2025
Slide 1: Yes No X
Yes No X If "Yes" is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b):
Slide 2: Financial Statements as of March 31, 2025
FINANCIAL STATEMENTS AS OF MARCH 31, 2025 tgse@
Slide 3: Slide 3
Slide 4: Activities of the Company in 1Q2025 and 1Q2024
Activities of the Company in 1Q2025 and 1Q2024 Revenues Total revenues for 1Q2025 increased by Ps. 24,832 million compared to 1Q2024, mainly as a result of the increase in revenues from the Natural Gas Transportation, partially offset by the decline in revenues from the Liquids Production and Commer
Slide 5: Climatic event impact on volumes and midstream revenues
The decrease in volumes sold was mainly due to the impact of the climatic event that occurred on March 7, 2025, when unprecedented heavy rainfall caused the overflow of the Saladillo García stream, which flooded the Cerri Complex and consequently halted the production of liquids and partially affect
Slide 6: Other operating results, net
Other operating results, net Other operating results, net experienced a loss of Ps. 13,615 million compared to Ps. 1,007 million in 1Q2024. The negative variation is mainly due to the loss recorded for Ps. 14,058 million in expenses and provisions for impairment of materials and other PPE items (the
Slide 7: Financial results and liquidity
This negative variation is mainly due to the lower positive financial results recorded by financial assets due to the decrease in yields obtained and the higher negative loss on net monetary position. These effects were partially offset by the higher net negative foreign exchange loss. 2. Liquidity
Slide 8: Cash flows in 1Q2025
During 1Q2025, increase in cash and cash equivalents was negative by Ps. 13,809 million. Cash Flows provided by operating activities amounted to Ps. 149,329 million. This cash flow is Ps. 74,181 million higher than that provided in 1Q2024 due to the lower working capital. This effect was partially o
Slide 9: Consolidated Comprehensive Income Summary
4. Consolidated Comprehensive Income Summary Summary of the consolidated comprehensive income information for the three-month periods ended March 31, 2025, 2024, 2023, 2022 and 2021:
Slide 10: Consolidated Cash Flow Summary
5. Consolidated Cash Flow Summary Summary of the consolidated cash flow information for the three-month periods ended March 31, 2025, 2024, 2023, 2022 and 2021:
Slide 11: Cash flow summary table (thousands of Argentine Pesos)
in thousands of Argentine Pesos) ‘Gash flows provided by operating adivities 129,329,235 75,148,263 152,937,324 177,907,403 172,545,194 ‘Gash flows used in investing adivities (262,483,486) (16,722,443) (61,766,736) (150,496,389) (219,355,538) ‘Gash flows (used in) / provided by finandal activities,
Slide 12: Operating statistics accumulated as of March 31
Accumulated as of March 31, 2025 2024 2023 2022 2021 Natural Gas Transportation Average firm contracted cepacty (millions of m3/d) 99.4 83.1 83.1 82.5 82.4 Average daily deliveries (milions of 37a) 62.9 58.5 543 621 58.8 NGL production and commerdalization 2 Production Ethane (in tons) 66,301 70,460
Slide 13: Statement of comprehensive income, three-month period
Three-month period ended March 31, Notes 2025 2024 Revenues Sch. 322,429,818 297,597,640 Net cost of sales Sui (136,885,311) __(157,660,608) Gross profit 185,544,507 139,937,032 Administrative expenses (3,954,354) (14,652,286) Selling expenses (20,885,881) (22,486, 032) (Other operating results, net
Slide 14: Statement of financial position: assets
ASSETS Non-current assets Property, plant and equipment Investments in associates Deferred income tax assets Other receivables Notes 03/31/2025 2,583,578,733 41,398,546 435,898 12/31/2024 2,589,239, 954 1,330,330 5,335 474,880 Total non-current assets 2,585,413,177 2,591,050,499 Current assets Other
Slide 15: Statement of changes in shareholders' equity
Shareholders” Contributions, —— ‘Outstanding shares “Treasury shares: ‘Reserve for Taflation Taflation ‘apltal expend tures, adjustment adjustment Acquisition cost ‘acquisition of ‘common tocommon Common to:common of treasury treasury shores Accumulated ‘Non-Conteoting stock stock stock"? stock" es
Slide 16: Cash flows provided by operating activities
2025 2024 CASH FLOWS PROVIDED BY OPERATING ACTIVITIES ‘Total comprehensive income for the period 107,351,434 87,214,716 Reconciliation of total comprehensive income to cash flows provided by operating activities: Depreciation of property, plant and equipment 40,249,292 35,434,343 Disposal of propert
Slide 17: Subsidiary control data as of March 31, 2025
Detailed data reflecting subsidiary control as of March 31, 2025, is as follows:
Slide 18: Segment information, three-month period ended March 31, 2025
Three-month period ended March 31, 2025 Natural Gas Liquids Production Transportation and Commercalizatior Midstream __Telecommunications Eliminations Total Revenues 152,035,100 111,070,172 57,853,055 4,471,491, = 322,429,818) Intersegment revenues 5,745,237 : : > (5,745,237) = Gst of sales. (4,194,
Slide 19: Segment information, three-month period ended March 31, 2024
Three-month period ended March 31, 2024 Natural Gas Liquids Production ‘Transportation and Commercializatior Midstream __Telecommunications Eliminations. Total Revenues 32,642,988, 199,823,445 63,312,534 1,818,673 = 297,597,640 Intersegment revenues ‘905,863 : = E (905,863) = Gost of sales (53,176,4
Slide 20: Revenues by market and timing, March 31, 2025
Three-month period ended March 31, 2025 Liquids Production Natural Gas and ‘Transportation _Commercialization Midstream __ Telecom munications Tot: Primary geographical market External Market E 60,892,304 5 = 60,892,328 Local Market 152,035,100 48,738,938 57,853, 055 3471 491 260, 098,584 Total 52,0
Slide 21: Detail of significant statement captions: other receivables
9. DETAIL OF SIGNIFICANT STATEMENT OF FINANCIAL POSITION AND STATEMENT OF COMPREHENSIVE INCOME CAPTIONS a) Other receivables
Slide 22: Other receivables detail
03/31/2025 12/31/2024 Gurrent ‘Non Gurrent Current Non Current Turnover tax balance 38,283 115,15 : \VAT credit balance E z 1,739,730 z Income tax credit balance ™ 683,370 = 434,855 : (Other tax receivables 614,523 : 663,771 : Prepaid expenses. 5,381,400 14,004 7,057,708 16,834 ‘Advanoss to supplier
Slide 23: Trade receivables detail
03/31/2025 12/31/2024 Current. Current. Third parties 124,112,753. 155,102, 565 Natural Gas Transportation 70,414,574 68,341,117 Liquids Production and Commerdalization 10,344,943 43,530,219 Midstream 43,353,238 37,231,229 Related parties (Note 22) 17,024,633, 14,610,767 Natural Gas Transportation 2
Slide 24: Allowance for doubtful accounts movements
Balances as of 12/31/2023 713,456 _ Inflation adjustment restatement (242,806) Additions Applications: = Reversals = Balances as of 03/31/2024 470,550, Inflation adiustmert restatement (142,921 Additions z Applications: = Reversals z Balances as of 12/31/2024 327,629 Inflation adjustment restatement
Slide 25: Operating expenses
2025 2024 Operating expenses Regulated Non-regulated Administrative Selling Financial Accounts Total activities activities expenses expenses expenses Total Selaries, wages and other compensations 26,721,204 11,754,996 9,367,804 4,295,970 3,302,434 - 27,429,711 Social security taxes 4,793,236 3,973,7
Slide 26: Loss on net monetary position under IAS 29
In accordance with IAS 29, the Company has opted to present the loss on net monetary position included in the financial results, and in a single line. The presentation made by the Company implies that the nominal magnitudes of the financial results have been restated by inflation. This means that th
Slide 27: Other operating results, net detail
Three-month period ended March 31, 2025 2024 imate event (14,058 432), E Result from disposal of Property, plant and equipment 125,631 z ‘Charge for provisions (25,981) (8,169) Recovery of insurance 355,880 2.088. Recovery of expenses: : 211,496 Derecognition of tax credits 542 213,039) Others 8,246
Slide 28: Description of securities
03/31/2025 12/31/2024 Description of securities Face Book Book Name and issuer value Amount value value Gas Link S.A, $1 502,962 1,398,546, 1,330,330 Total 1,398,546 1,330,330
Slide 29: Property, plant and equipment
31/03/2025 31/12/2024 Cost Depreciation and Impairment Accumulated at ‘Accumulated at Beoinning End of ‘the beginning ‘tthe end Net book Net book Account ofthe year Additions Retirements the period ofthe year Retirements __For the period ofthe year vahie value Poaines 2,008,393,671 : : 2,010,548,047
Slide 30: Loans denominated in US dollars
Loans are totally denominated in US dollars. The activity of the loans as of March 31, 2025 and 2024 is the following:
Slide 31: Bank loan repayments and debt maturities
During the three-month period ended March 31, 2025, the Company made repayments for bank loans for Ps. 480,448. The maturities of current and non-current financial debt, net of issuance expenses, as of March 31, 2025 are as follows:
Slide 32: 2031 Notes and covenants
The net proceeds from the 2031 Notes were US$ 483,688,800. The company used the proceeds to complete a tender offer and cancel the ON 2018. Covenants As of March 31, 2025, the Company has complied with a series of restrictions derived from its current financial agreements, which include, among other
Slide 33: Deferred tax assets and liabilities
d Assets / ( Liabilities) 03/31/2025 12/31/2024 Financial assets at fair value thraugh profit or loss $28,536 8,408,02 Provisions for leqal claims and other provisions 385,503, 302,777 Financial leases 4,399,625 53u20 Contract lsbilities 21.420,652 21,067,401 Gther receivables (usa3478) 161,354 Lean
Slide 34: Financial instruments by category and hierarchy
17. FINANCIAL INSTRUMENTS BY CATEGORY AND HIERARCHY 17.1 Financial instruments categories There have been no significant changes regarding the accounting policies for the categorization of financial instruments to the policies disclosed in the financial statements as of December 31, 2024. The catego
Slide 35: Financial assets and liabilities, March 31, 2025
March 31, 2025 Financial assets Financial assets at at fair value amortized cost Total CURRENT ASSETS Trade receivables = 140,835,616 140,835, 616 ‘Other receivables = 13,202,146 13,202,146 Finandal assets at amortized cost Z 285,240,927 285,240,927 Finandal assets at fair value through profit or lo
Slide 36: Fair value measurement hierarchy and estimates
17.2 Fair value measurement hierarchy and estimates According to IFRS Accounting Standard 13, the fair value hierarchy introduces three levels of inputs based on the lowest level of input significant to the overall fair value. These levels are: · Level 1 : includes financial assets and liabilities w
Slide 37: Fair value of financial assets and 2031 Notes
The fair value amount of the financial assets is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. As of March 31, 2025, the carrying amount of certain financial instruments used by the Com
Slide 38: Foreign currency assets and liabilities
03/31/2025 12/31/2024 Foreign currency ‘Amo unt Foreign currency Amount and amount Exchange in local and amount in local (in thousands) rate currency (in thousands) currency CURRENT ASSETS Cash and cash equivalents uss 6,975 1,071.00 7,469,732 us$ 40,373 45,103,894 Financial assets at amortized cost
Slide 39: Shares traded on BYMA and NYSE as ADSs
tgs 's shares are traded on the BYMA and under the form of the American Depositary Receipts (“ADSs”) (registered in the Securities and Exchange Commission (“SEC”) and representing 5 shares each) on the New York Stock Exchange.
Slide 40: Related party balances and transactions
As of March 31, 2025 and December 31, 2024, tgs has a balance of Ps. 21,313,493 and Ps. 22,225,723 corresponding to Dollar linked notes issued by CT Barragán S.A. and Pampa Energía. The book value of the notes is disclosed within the caption “Financial assets at fair value through profit or loss”. T
Slide 41: Related party transactions, 2025 and 2024
Additionally, during the three-month period ended March 31, 2025, the Company received from SACDE Sociedad Argentina de Construcción y Desarrollo Estratégico S.A., construction engineering services for Ps. 21,083,558 which are activated within the balance of advances to suppliers. Three-month period
Slide 42: Related party revenues, costs and financial results
Revenues Costs Financial results Tiquids Production Revenues From Interest gain 7 Natural Gas and Gas purchase Compensation for _ administrative Interest Gain / (loss) on Selling expenses Company. Transportation _commercialization _ Midstream __and others _ technical assistance services and others _
Gas Transporter of the South — Q1 2025 Earnings Presentation on 6ix