Transportadora De Gas Del Sur Sa Class B · BCBA:TGSU2
Transportadora De Gas Del Sur Sa Class B — Gas Transporter of the South — H1 2014 Earnings Presentation
34 slides from Transportadora De Gas Del Sur Sa Class B's earnings presentation, Aug 29, 2014
Slide 1: Overview
______________________________________________________________________ Overview For the six-month period ended June 30, 2014, the Company has reported a net income of Ps. 37.3 million, in comparison to the total comprehensive income of Ps. 93.3 million reported in the first half 2013. The Ps. 56.0 m
Slide 2: Income tax expense and Liquidity
This increase was mainly related to the Ps. 282.3 million increase in the foreign exchange loss which was generated by approximately a 25% higher devaluation of the local currency in the first half of 2014 and the Ps. 69.3 million of negative results in derivative financial instruments. The foreign
Slide 3: Cash flows and Second Quarter 2014 vs. 2013
The net increase in cash flows provided by operating activities was Ps. 274.6 million and was mainly related to additional cash flow generated by the Liquids Production and Commercialization segment. Finally, the variation in the Cash flows used in financial activities was mainly due to the cancella
Slide 4: Total Net Revenues increased in the second quarter of 2014
______________________________________________________________________ Total Net Revenues increased Ps. 486.2 million in the second quarter of 2014, when compared to the second quarter of 2013. Net revenues from Natural Gas Transportation business segment increased by Ps. 30.7 million in the second
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 six-month periods ended June 30, 2014 and 2013:
Slide 6: Statistical Data (Physical Units)
______________________________________________________________________ 6. Statistical Data (Physical Units)
Slide 7: Statistical data table by period
‘Six-month period ended June 30. Second quarter ended June 30. 2014 2013 2012 2011 2010 2014 2013 2012 2011 2010 Gas Transportation Avemge fim contacted capacity @ billions ofcubic feet per day("Bcfé") 287 290 291 3 281 29 2 29 2 Avenge daily deliveries (in Bcf'é) 228 20 227 224 2M 248 20 243 pes 22
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 JUNE 30, 2014 AND DECEMBER 31, 2013 (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 SIX-MONTH PERIODS ENDED JUNE 30, 2014 AND 2013 (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 SIX-MONTH PERIODS ENDED JUNE, 2014 AND 2013 (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 JUNE 30, 2014 AND COMPARATIVE INFORMATION (Stated in thousands of pesos as described in Note 3, unless otherwise stated) _____________________
Slide 12: Notes to the Financial Statements
TRANSPORTADORA DE GAS DEL SUR S.A. NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS AS OF JUNE 30, 2014 AND COMPARATIVE INFORMATION (Stated in thousands of pesos as described in Note 3, unless otherwise stated) _________________________________________________________________________
Slide 13: Summary of Significant Statement Items
9. SUMMARY OF SIGNIFICANT STATEMENT OF FINANCIAL POSITION AND STATEMENT OF COMPREHENSIVE INCOME ITEMS a) Other receivables
Slide 14: Other receivables by currency
The breakdown of other receivables based on its currency of origin is the following:
Slide 15: Trade receivables
TRANSPORTADORA DE GAS DEL SUR S.A. NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS AS OF JUNE 30, 2014 AND COMPARATIVE INFORMATION (Stated in thousands of pesos as described in Note 3, unless otherwise stated) _________________________________________________________________________
Slide 16: Trade receivables by currency
The breakdown of trade receivables based on its currency of origin is the following:
Slide 17: Balances roll-forward
Balances as of December 31, 2012 31,300 Additions Ea) Applications Decreases (18,287) o Balances as of June 30, 2013 4,121 Additions : Applications - Decreases : Balances as of December 31, 2013 4,121 Additions : Applications : Decreases : Balances as of June 30,2014 4,121 © Included in Other operat
Slide 18: Cash and cash equivalents by currency
The breakdown of cash and cash equivalents based on its currency of origin is the following:
Slide 19: Advances from customers and Other payables
Advances from customers are denominated in pesos. e) Other payables
Slide 20: Other payables and Taxes payables
Other payables are denominated in pesos. f) Taxes payables
Slide 21: Trade payables by currency
The breakdown of trade payables based on its currency of origin is the following:
Slide 22: Expenses by nature
TRANSPORTADORA DE GAS DEL SUR S.A. NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS AS OF JUNE 30, 2014 AND COMPARATIVE INFORMATION (Stated in thousands of pesos as described in Note 3) __________________________________________________________________________________________________
Slide 23: Net financial results
TRANSPORTADORA DE GAS DEL SUR S.A. NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS AS OF JUNE 30, 2014 AND COMPARATIVE INFORMATION (Stated in thousands of pesos as described in Note 3, unless otherwise stated) j) Net financial results
Slide 24: Other operating income / (expenses)
k) Other operating income / (expenses)
Slide 25: Loans
TRANSPORTADORA DE GAS DEL SUR S.A. NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS AS OF JUNE 30, 2014 AND COMPARATIVE INFORMATION (Stated in thousands of pesos as described in Note 3, unless otherwise stated) 13. LOANS In order to improve the maturity profile of TGS’s financial deb
Slide 26: The 2014 Notes and loans breakdown
The 2014 Notes are traded in the Bolsa de Comercio de Buenos Aires ("BCBA"), the Mercado Abierto Electrónico (“MAE”) and the Euro MTF of the Luxembourg Exchange. The terms and conditions of the 2014 Notes are similar to those applied to the 2007 Notes, having not changed financial covenants with res
Slide 27: Loans by currency of origin
The breakdown of loans based on its currency of origin is the following:
Slide 28: Financial instruments by category and hierarchy
16. FINANCIAL INSTRUMENTS BY CATEGORY AND HIERARCHY 16.1 Financial instrument categories There have been no significant changes regarding the accounting policies for the categorization of financial instruments since the policies disclosed by the Company as of December 31, 2013. The categories of fin
Slide 29: Financial instruments tables
(1) Tax credits, prepaid expenses and advances from suppliers are excluded from the other receivables balance, as this analysis is required only for financial instruments. TRANSPORTADORA DE GAS DEL SUR S.A. NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS AS OF JUNE 30, 2014 AND COMP
Slide 30: Fair value measurement hierarchy and estimates
(1) Tax credits, prepaid expenses and advances from suppliers are excluded from the other receivables balance, as this analysis is required only for financial instruments. 2.1 Fair value measurement hierarchy and estimates According to IFRS 13, the fair value hierarchy introduces three levels of inp
Slide 31: Key management compensation and related parties
Key management compensation The accrued amounts corresponding to the compensation of the members of the Board of Directors, the Statutory Committee and the Executive Committee for the six-month periods ended June 30, 2014 and 2013 were Ps. 12,017 and Ps. 12,080, respectively. Balances and transactio
Slide 32: Transactions with related parties
The detail of significant transactions with related parties for the six-month period ended June 30, 2014 and 2013 is as follows: Six-month period ended June 30, 2014:
Slide 33: Six-month period ended June 30, 2013
Six-month period ended June 30, 2013:
Slide 34: Subsidiary and Associates
TRANSPORTADORA DE GAS DEL SUR S.A. NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS AS OF JUNE 30, 2014 AND COMPARATIVE INFORMATION (Stated in thousands of pesos as described in Note 3, unless otherwise stated) SUBSIDIARY AND ASSOCIATES Link: Link was created in February 2001, with t
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