Central Puerto Sa · BCBA:CEPU
Central Puerto Sa — Q1 2024 Earnings Presentation
15 slides from Central Puerto Sa's earnings presentation, May 13, 2024
Slide 1: 1Q24 Earnings Webcast
1Q24Earnings Webcast May 13th, 2024
Slide 2: Disclaimer
Disclaimer Additional information about Central Puerto can be found in the Investor Support section on the website at www.centralpuerto.com. This presentation does not contain all the Company’s financial information. As a result, investors should read this presentation in conjunction with Central Pu
Slide 3: Agenda
1Q24 Earnings Webcast - Agenda ▪ 1Q24 Key Figures ▪ Regulatory Update and News ▪ Argentine Market Overview ▪ CEPU main operating metrics ▪ Financial Results ▪ Questions & Answers 3
Slide 4: 1Q24 Key Figures
1Q24 Key Figures(1)(2) Installed Energy Revenues Adj.EBITDA(4) Net Income Net Debt Capacity(3) Generation US$ MM US$ MM US$ MM US$ MM MW GWh 1Q24 1Q24 1Q24 1Q24 1Q24 7,173 5,520 150 84 32 326 +49% Y/Y +8% Y/Y +15%Y/Y 10% Y/Y +5,061% Y/Y -US$108 mm (1) The results presented for the annual period 2023
Slide 5: Regulatory Updates and Relevant Facts
Regulatory Updates and Relevant Facts Resolution Energy and capacity prices update for legacy units by 74% SE N°9/2024 (Feb-24) since February 2024. Status on Cammesa’s delayed payments On May 6 th, 2024, the Secretariat of Energy issued Resolution SE No. 58/2024, which determined the payment mechan
Slide 6: Argentine market overview
Argentine market overview (1) Installed Capacity(2) Energy Generation (MW) (TWh) +595 MW +0.65 TWh +1.% +2.% 43,278 43,874 38.6 39.3 4% 4% 5% 8% 12% 13% 12% 14% 25% 25% 22% 23% 59% 58% 61% 54% 1Q23 1Q24 1Q23 1Q24 Thermal Hydro Renewable Nuclear Thermal Hydro Renewable Nuclear Thermal: (85 MW) • High
Slide 7: Argentine market overview: Local Energy Demand
Argentine market overview (1) Local Energy Demand (TWh) -1.6 TWh (4%) 13.59 14.00 13.07 13.09 12.85 11.91 11.95 10.57 10.88 • Milder temperatures in January and March prompted a 6% lower energy demand from retail during 1Q24. • 3% contraction in industrial demand on the back of weak economic activit
Slide 8: Central Puerto operating metrics
Central Puerto operating metrics (1) Energy Generation Thermal Availability(2) (GWh) (%) Steam & gas turbines +398 95% +8% 82% 71% 68% 63%67% 62% 51% 34% 24% Puerto Lujan de Cuyo Brigadier Central CEPU Market +347 Nuevo/Nuevo Lopez Costanera Puerto 1Q23 1Q24 Average 1Q24 Combined Cycles 96% 98% 96%
Slide 9: Revenues breakdown
1Q24 Revenues breakdown (1) Revenues (1) (US$ mm) +20 15% Spot Sales (Legacy) ▲ CECO acquisition (full impact in Jan and Feb). ▲ Non-cash effect on the gap between currency devaluation and inflation. ▼ Lower remuneration in US dollars (partially offset with Res. 59/23). ▼ Lower dispatch (thermal ex
Slide 10: Reconciliation of Adj. EBITDA
1Q24 Reconciliation of Adj. EBITDA(1) Sales Adj. EBITDA (1) ▲ Higher aggregate sales, driven by spot sales and sales (US$ mm) under contracts. +8 ▲ Non-cash effect on the gap between currency 10% devaluation and inflation. Cost of Sales ▼ Higher employee compensations, energy and power purchases, ma
Slide 11: Reconciliation of Net Income
1Q24 Reconciliation of Net Income(1) Net Income (1) (US$ mm) Non-Cash Effects +31 ▲ Results driven by the change in purchasing power of the 5,061% currency. ▲ Variation on biological asset. Net Financial Results ▲ Lower foreign exchange differences on financial liabilities. ▲ Lower bank commissions.
Slide 12: Consolidated Cashflow
1Q24 Consolidated Cashflow (1) Cashflow Bridge (1) (US$ mm) Investing Activities -18 ▲ Sale of financial assets. (73%) ▲ Dividends collected. ▼ CAPEX in San Lorenzo facility. ▼ CAPEX in Brigadier López facility. Operating Cash Flow ▼ FONI collections. ▼ Income tax. ▲ Adj. EBITDA of the period. Finan
Slide 13: Low leverage ratio and manageable short-term maturities
Low leverage ratio and manageable short-term maturities Debt Maturity schedule(1)(2) (US$ mm.) 124 Net Debt/ Adj. 50 82 83 EBITDA(3) 64 47 29 30 30 56 1.1x 14 16 23 17 18 18 8 28 12 14 12 12 12 12 6 9 2 2 2 2Q24 3Q24 4Q24 2025 2026 2027 2028 2029 (+)2030 Corporate Loan Project Finance Debt Securitie
Slide 14: Questions & Answers
1Q24 Earnings Webcast May 13th, 2024 Questions & Answers
Slide 15: 1Q24 Earnings Webcast
1Q24 Earnings Webcast May 13th, 2024 15