Transportadora De Gas Del Sur Sa Class B · BCBA:TGSU2
Transportadora De Gas Del Sur Sa Class B — Gas Transporter of the South — Q3 2024 Earnings Presentation
21 slides from Transportadora De Gas Del Sur Sa Class B's earnings presentation, Nov 4, 2024
Slide 1: tgs announces results for the third quarter ended September 30, 2024
tgs announces results for the third quarter (“3Q”) ended on Septembre 30, 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
Slide 2: Buenos Aires, Argentina, November 4, 2024
Buenos Aires, Argentina, November 4, 2024 During the 3Q2024, total comprehensive income amounted to Ps. 52,188 million, or a Ps. 69.33 income per share (Ps. 346.65 per ADS), compared to a total comprehensive income of Ps. 15,077 million, or Ps. 20.03 per share (Ps. 100.15 per ADS) in the third quart
Slide 3: Operating profit for 3Q2024
Operating profit for 3Q2024 totaled Ps. 105,026 million, Ps. 51,650 million above 3Q2023. This variation was mainly due to higher revenues from the Natural Gas Transportation totaling Ps. 70,917 million and lower net cost of sales, administrative and selling expenses which decreased Ps. 24,558 milli
Slide 4: Breakdown of net cost of sales, administrative and selling expenses
The breakdown of net cost of sales , administrative and selling expenses for 3Q2024 and 3Q2023 is shown in the table below:
Slide 5: Natural Gas Transportation
Natural Gas Transportation Operating profit of the Natural Gas Transportation segment was Ps. 65,340 million in 3Q2024, which is Ps. 63,512 million higher than the profit recorded in 3Q2023.
Slide 6: Natural gas transportation revenues share
Natural gas transportation revenues accounted for approximately 49% and 23% of total revenues in 3Q2024 and 3Q2023, respectively. Revenues from this segment are derived mainly from firm natural gas transportation contracts, which represented approximately 84% and 82% of the total revenues for this s
Slide 7: Tariff increases and Liquids Production and Commercialization
During 2024, this business segment, regulated by ENARGAS, received tariff increases of 675%, 4%, and 1%, which became effective on April 3, August 1, and September 2, 2024, respectively. The increase in operating profit was mainly driven by higher revenues of Ps. 70,917 million, resulting from the t
Slide 8: Liquids segment operating profit and revenues
Operating profit for this business segment in 3Q2024 was Ps. 14,090 million below 3Q2023, reaching Ps. 11,479 million (Ps. 25,569 million in 3Q2023). This decline was mainly explained by lower revenues of Ps. 43,226 million and the increase in repair and maintenance expenses and third-party services
Slide 9: Liquids sales volumes local and foreign market
302024 392023 Variation (in tons) Local market Ethane 53,394 98,698 (45,300) Propane 63,249 73,345 (10,095) Butane 38,771 37,725 1,046 ‘Subtotal 155,414 209,764 (54,350) Foreign market Propane 12,186 13,815 (1,628) Butane 13,429 9,324 4,108 Natural gasoline 17,748 26,185 (8,437) ‘Subtotal 43,363, 49
Slide 10: Midstream and Telecommunications
Midstream and Telecommunications Midstream and Telecommunications business segment includes mainly services provided by tgs at Vaca Muerta, representing approximately 20% and 23% of our total revenues in 3Q2024 and 3Q2023, respectively.
Slide 11: Midstream results table
Revenues 50,419 52,118 (1,699) (3%) Net cost of sales (17,180) (19,412) 2,231 (11%) (Other administrative and seling expenses (5,274) (6,589) 1,315 (20%) Other operating results, net 242 (339) 381 n/a Depreciation of PPE (7,196) (7,440) 244 (3%)
Slide 12: Financial position analysis
Financial position analysis Net debt As of September 30, 2024, our negative net debt amounted to Ps. 118,634 million, which compares to the positive net debt of Ps. 70,493 million as of December 31, 2023. Our total net financial debt is denominated in foreign currency for both periods. During 3Q2024
Slide 13: Net debt reconciliation
09/30/2024 12/31/2023 (in milion of Argentine pesos) Ghent loans 85,110 122,010, Non current loans: 472,811 328,107 ‘Gsh and cash equvaerts (Gi,415) (13,294) ‘ther financial assets at fair value through profit or la 388,198) (438,220) ‘Other financial assets at amortized cost (256,942) (428,110) Net
Slide 14: Liquidity and capital resources
Liquidity and capital resources The net variation in cash and cash equivalents for 3Q2024 and 3Q2023 is broken down as follows:
Slide 15: Funds allocation
As of September 30, 2024 and December 31, 2023, the funds allocation was as follows:
Slide 16: 3Q2024 vs. 3Q2023 cash flow
3Q2024 vs. 3Q2023 During 3Q2024, the cash flow provided by operating activities amounted to Ps. 120,634 million, while in 3Q2023 the cash flow provided by operating activities totaled Ps. 66,733 million. The positive variation was primarily driven by lower working capital and lower income tax paymen
Slide 17: Financial Information for nine and three-month periods
Transportadora de Gas del Sur S.A. Financial Information for the nine ("9M") and three-month periods ("39") ended September 30, 2024 and 2023 in millions of Argentine pesos, except for per share and er ADS information in pesos or where otherwée indicated) 302024 392023 9m2024 9m 2023 Natural Gas Tra
Slide 18: Financial results for the three and nine-month periods
Financial results for the three and ended September 30, 2024 and 2023 (in million of Argentine Pesos) e-month periods 392024 392023 9m2024 9m2023 Financial income Interest 20,952 7.617 52,072 34,737 Foreign exchange gain 20,196 115,265, 66,701 236,552 Subtotal 41,148 122,886 118,773 251,289 Financia
Slide 19: Business Segment information
Business Segment information Natural Gas mana Gas Liquids Midstream —Telecommunications, Total (Cin million of Argentine Pesos) Revenues 204,77 367,091 149,420 ERE 306018 Depreciation (58,762) (6,925) (22,757) z (88,444) Operating profit 112,304 137,150 84,850 579 334,882 22023 Revenues T5531 Fa IEE
Slide 20: Consolidated Statement of Financial Position
Consolidated Statement of Financial Position as of September 30, 2024 and December 31, 2023 (in millon of Argentine pesos) 09/30/2024 12/31/2023 Aesets Non Current assets Property, plane and equipment 2.116.996 2.000176 Invesments in associates 1.088 908 Other financial assets at amortized cost 23,1
Slide 21: Consolidated Statement of Cash Flows
Consolidated Statement of Cash Flows for the nine month periods ended September 30, 2024 and 2023 (in million of Argentine Pesos) 9m2024 92023 Cash flowss provided by operating activities Tea eapennaat acorn Soe Gia 222520 94,638 inti wl ky a pla Depreciation of PPE cease 69,008 Disposal of PPE tse
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