Transportadora De Gas Del Sur Sa Class B · BCBA:TGSU2
Transportadora De Gas Del Sur Sa Class B — Gas Transporter of the South — Merger or Acquisition (November 2015)
36 slides from Transportadora De Gas Del Sur Sa Class B's merger presentation, Nov 25, 2015
Slide 1: Overview
Overview For the nine-month period ended September 30, 2015, the Company has reported a net loss of Ps. 11.2 million, compared with a net income of Ps. 77.8 million reported in the same period last year, representing a negative variation of Ps. 89.0 million. The negative variation in the comprehensi
Slide 2: Net financial expense, income tax and liquidity
This positive variation is mainly due to the lower exchange difference of Ps. 384.1 millions, principally due to the lower depreciation of the peso against the dollar US registered during the nine-month period ended September 30, 2015 and lower net liability position in US dollars after the cancella
Slide 3: Cash variation and third quarter 2015 vs 2014
The negative variation in cash and cash equivalent of the nine-month period ended September 30, 2015 amounted to Ps. 74.6 million. For the nine-month period ended September 30, 2015, net decrease in cash and cash equivalents was Ps. 74.6 million, Ps. 136.7 million lower from the net decrease in cash
Slide 4: Third quarter 2015 comprehensive loss and revenues
During third quarter of 2015, the Company obtained a comprehensive loss of Ps. 171.2 million in comparison with the comprehensive net income of Ps. 40.5 million obtained in the third quarter of 2014. Total Net Revenues for the third quarter of 2015 decreased by Ps. 70.5 million or 7.3% when compared
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 nine-month periods ended September 30, 2015, 2014, 2013 and 2012:
Slide 6: Statistical Data (Physical Units)
6. Statistical Data (Physical Units)
Slide 7: Statistical data: gas transportation and NGL production
Period endedS eptember 30, Third quarter ended S eptember 30, Gas Transportation Average firm contracted capacity Gn billions of cubic feet per day ¢ Bcffd")) Average daily deliv eries (in Beff/d) NGL producti andcommercialization Productim Ethane (in short tones) Propane and butane (in shorttones)
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 SEPTEMBER 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 NINE-MONTH PERIODS ENDED SEPTEMBER 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 NINE-MONTH PERIODS ENDED SEPTEMBER 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 SEPTEMBER 30, 2015 AND COMPARATIVE INFORMATION (Stated in thousands of pesos as described in Note 3, unless otherwise stated) ________________
Slide 12: Segment information, nine months 2015
‘Nine-month period ended September 30, 2015 Production and Natural Gas Commereialization of Other ‘Transportation Liguids Services Telecommunications Total Revenue fromsales © 50,856 1364976 190.806 2116 2839354 Costofsales (533.663) (0254816) 3.192) 0654) 0.984215) Administrative expenses (116,290)
Slide 13: Notes: Other receivables
TRANSPORTADORA DE GAS DEL SUR S.A. NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS AS OF SEPTEMBER 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
TRANSPORTADORA DE GAS DEL SUR S.A. NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS AS OF SEPTEMBER 30, 2015 AND COMPARATIVE INFORMATION (Stated in thousands of pesos as described in Note 3, unless otherwise stated) ____________________________________________________________________
Slide 16: Allowance balances roll-forward
Balances as of December 31, 2013 4,121 Additions : Applications - Decreases (207) Balances as of S eptember 30, 2014 3,914 Additions : Applications (2,525) Decreases - Balances as of December 31, 2014 1,389 ‘Additions : Applications - Decreases - Balances as of S eptember 30, 2015 1,389 © Included i
Slide 17: Advances from customers and other payables
Advances from customers are denominated in pesos. e) Other payables
Slide 18: Other payables and taxes payables
Other payables are denominated in pesos. f) Taxes payables
Slide 19: Taxes payables and trade payables
Taxes payables are denominated in pesos. TRANSPORTADORA DE GAS DEL SUR S.A. NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS AS OF SEPTEMBER 30, 2015 AND COMPARATIVE INFORMATION (Stated in thousands of pesos as described in Note 3, unless otherwise stated) ___________________________
Slide 20: Expenses by nature
TRANSPORTADORA DE GAS DEL SUR S.A. NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS AS OF SEPTEMBER 30, 2015 AND COMPARATIVE INFORMATION (Stated in thousands of pesos as described in Note 3) _____________________________________________________________________________________________
Slide 21: Net financial results
TRANSPORTADORA DE GAS DEL SUR S.A. NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS AS OF SEPTEMBER 30, 2015 AND COMPARATIVE INFORMATION (Stated in thousands of pesos as described in Note 3, unless otherwise stated) j) Net financial results
Slide 22: Other operating (expense) / income
k) Other operating (expense) / income
Slide 23: Other financial assets at fair value through profit or loss
l) Other financial assets at fair value through profit or loss
Slide 24: Telcosur 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 FROM ASSOCIATES
Slide 25: Property, plant and equipment
TRANSPORTADORA DE GAS DEL SUR S.A. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS AS OF SEPTEMBER 30, 2015 AND COMPARATIVE INFORMATION (Stated in thousands of pesos as described in Note 3, unless otherwise stated) ______________________________________________________________________________________
Slide 26: Loans
TRANSPORTADORA DE GAS DEL SUR S.A. NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS AS OF SEPTEMBER 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 September 30, 2015 an
Slide 27: Loans by currency
The breakdown of loans based on its currency of origin is the following:
Slide 28: Loan maturities
The maturities of the current and non-current loans as of September 30, 2015 are as follows:
Slide 29: Exchange rate hedging and income tax
In order to cover the risk associated with the exposure to exchange rate derived from its financial debt, TGS concrete forward operations to purchase US dollars. As of September 30, 2015 and December 31, 2014, there were outstanding transactions with a fair value of (Ps. 13,967) and (Ps. 28,810), re
Slide 30: Financial instruments by category
TRANSPORTADORA DE GAS DEL SUR S.A. NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS AS OF SEPTEMBER 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 i
Slide 31: Notes to the financial statements
TRANSPORTADORA DE GAS DEL SUR S.A. NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS AS OF SEPTEMBER 30, 2015 AND COMPARATIVE INFORMATION (Stated in thousands of pesos as described in Note 3, unless otherwise stated)
Slide 32: 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 33: Related party loan and arbitration rights acquisition
In accordance with the provisions of the Loan (granted by TGS to Pampa Energía on October 6, 2011, as amended on April 26, 2013), its cancellation by the total transfer to TGS of the Rights of Arbitration Proceeding that were promptly acquired by Pampa Energía with the loan, was mandatory on or prio
Slide 34: Related party transactions 2015
The detail of significant transactions with related parties for the nine-month period ended September 30, 2015 and 2014 is as follows: Nine-month period ended September 30, 2015:
Slide 35: Related party transactions 2014
TRANSPORTADORA DE GAS DEL SUR S.A. NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS AS OF SEPTEMBER 30, 2015 AND COMPARATIVE INFORMATION (Stated in thousands of pesos as described in Note 3, unless otherwise stated) Nine-month period ended September 30, 2014:
Slide 36: Subsidiary and Associates
SUBSIDIARY AND ASSOCIATES Link: Link operates 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-pressure ring that surrounds the city of Buenos Aires, which
Gas Transporter of the South — Merger or Acquisition (November 2015) on 6ix