Transportadora De Gas Del Sur Sa Class B · BCBA:TGSU2
Transportadora De Gas Del Sur Sa Class B — TGS — Q2 2022 Earnings Presentation
33 slides from Transportadora De Gas Del Sur Sa Class B's earnings presentation, Jul 21, 2022
Slide 1: Q2 2022 Financial Results
Q2 2022 Financial Results Kristian Johansen Sven Børre Larsen Jan Schoolmeesters CEO CFO EVP Digital Energy Solutions 21 July 2022
Slide 2: Forward-looking Statements
Forward-looking Statements All statements in this presentation other than statements of historical fact, are forward-looking statements, which are subject to a number of risks, uncertainties, and assumptions that are difficult to predict and are based upon assumptions as to future events that may no
Slide 3: Highlights
Highlights • Strong late sales of USD 97 million in Q2 2022 compared to USD 30 million in Q2 2021 • Total revenue of USD 230 million compared to USD 72 million in Q2 2021 • POC revenue of USD 136 million compared to USD 54 million in Q2 2021 • Robust order inflow of USD 156 million compared to USD 4
Slide 4: Operational Highlights
Operational Highlights
Slide 5: Q2 2022 Multi-client Operations
Q2 2022 Multi-client Operations Cameron Canyon 3D4 NOAKA22 OBN1 • 10,000 sqkm of 3D data • 318 sqkm of OBN data located • Extension of South Bank survey within the APA area between acquired in 2020 Oseberg and Alvheim in the Engagement 2 OBN1 • Fast-track data ready for 2022 Norwegian North Sea • OB
Slide 6: World's first multi-client offshore wind measurement campaign
World’s first multi-client offshore wind measurement campaign • TGS revolutionizing the way the wind industry accesses offshore measurement data • Applying MC business model and data lake capabilities to wind LiDAR data • First project is a new wind measurement project offshore the US East Coast in
Slide 7: Strategy Update
Strategy Update
Slide 8: Roadmap for continued long-term value creation
Roadmap for continued long-term value creation Scale Strong Balance Sheet • Relentless focus on • High margin on • Utilizing core • Low financial costs incremental sales competencies to build gearing to counter • Efficiency through • Providing customers offering across high operational with better q
Slide 9: Recent M&A activity
Recent M&A activity Delivering on strategic agenda as presented at Capital Markets Day Feb’21 New technologies in mature New technologies in mature basins basins New technologies in mature Profitable Growth Strengthening position in South Atlantic basins New technologies in mature Further growth ons
Slide 10: Magseis – Strengthening position towards ILX and 4D
Magseis – Strengthening position towards ILX and 4D Global OBN market Description 1.6 32% • World’s leading OBN acquisition company 1.4 28% • Strong position in TGS’ core markets OBN share of total seismic market 1.2 24% • Offer to acquire all outstanding shares announced on OBN spending (USDbn) 29
Slide 11: ION – Expanding MC footprint and data processing offering
ION – Expanding MC footprint and data processing offering Description • Considered the number five multi-client company globally • Asset light with a strong position in Africa and Latin America • All of Ion’s offshore multi client data (both 3D and 2D) and the processing business acquired as part of
Slide 12: Prediktor – Important building-block in renewables strategy
Prediktor – Important building-block in renewables strategy Expected growth solar power Description 4,000 4.0% • Leading provider of asset management and real-time data 3,500 3.5% management solutions to renewable and energy asset Share of total energy demand 3,000 3.0% owners CAGR 11.7% • Strong pr
Slide 13: Update on Digital Energy Solutions Progress
Update on Digital Energy Solutions Progress
Slide 14: DES Vision
DES Vision Energy distributors H2 Data APIs Software Data and data-driven solutions for the full project life cycle across energy value chains See the energy at TGS.com - 14 -
Slide 15: Organic development – TGS Wind Ecosystem
Organic development – TGS Wind Ecosystem Components Prospecting • 4C Offshore Intel • Wind AXIOM Assessment • Wind Modelling • Lidar Measurement • Multibeam Echosounder Dev Ex/ Opex • XHR shallow seismic • Energy Forecasting ➢ Wind AXIOM launched in Q1, growing subscriptions ➢ World’s first MC Lidar
Slide 16: Venture investment in disruptive solutions NASH Renewables
Venture investment in disruptive solutions NASH Renewables • NASH is a 2022 startup led by the former CDO of Siemens Gamesa • Using AI to optimize wind park design and operations • Using production value and profitability as criteria instead of production volume and cost • Increasingly important in
Slide 17: M&A – Prediktor
M&A – Prediktor Data driven operations of energy asset portfolios • Data capture and management of millions of sensor signals across energy asset portfolios • Field proven in energy installations world-wide • e.g. Johan Sverdrup, Doggerbank wind park, Benban solar park • 7GW of renewable assets unde
Slide 18: Financials
Financials
Slide 19: Operating Revenues
Operating Revenues Early Sales Revenue Late Sales Revenue 180 120 160 100 140 120 80 MUSD MUSD 100 60 80 164 97 60 127 40 105 112 73 76 40 52 20 41 20 36 38 40 28 28 26 30 31 28 0 0 Q2 2020 Q3 2020 Q4 2020 Q1 2021 Q2 2021 Q3 2021 Q4 2021 Q1 2022 Q2 2022 Q2 2020 Q3 2020 Q4 2020 Q1 2021 Q2 2021 Q3 202
Slide 20: Operating Result and Cash Flow
Operating Result and Cash Flow Operating Expenses 1 Amortization and Impairments 35 180 30 160 140 25 120 MUSD MUSD 20 100 15 31 80 165 161 27 147 144 24 26 60 126 10 22 20 17 40 89 14 60 62 5 20 0 0 Q3 2020 Q4 2020 Q1 2021 Q2 2021 Q3 2021 Q4 2021 Q1 2022 Q2 2022 Q3 2020 Q4 2020 Q1 2021 Q2 2021 Q3 2
Slide 21: Multi-client Library
Multi-client Library Operational Investments Net Book Value Multi-Client Library 70 1,200 60 1,000 50 800 40 600 MUSD 30 64 1,078 MUSD 57 54 966 915 893 45 43 400 805 20 39 705 688 34 33 570 10 200 0 0 Q3 2020 Q4 2020 Q1 2021 Q2 2021 Q3 2021 Q4 2021 Q1 2022 Q2 2022 Q3 2020 Q4 2020 Q1 2021 Q2 2021 Q3
Slide 22: Income Statement
Income Statement See the energy at TGS.com - 22 -
Slide 23: Balance Sheet
Balance Sheet Change from (MUSD) 30-Jun-22 30-Jun-21 31-Dec-21 31 Dec 21 Goodwill 304.0 303.8 304.0 0% Multi-client library 570.1 893.0 704.9 -19% Deferred tax asset 86.5 80.7 95.9 -10% Other non-current assets 85.1 107.3 89.8 -5% Total non-current assets 1,045.7 1,384.9 1,194.5 -12% Cash and cash e
Slide 24: Q2 2022 Cash Flow Statement
Q2 2022 Cash Flow Statement See the energy at TGS.com - 24 -
Slide 25: Dividends and Share Buybacks
Dividends and Share Buybacks Dividend yield2 Dividend per share1 1.6 6.0 % NOK 8.0 NOK 8.5 5.2% 1.4 4.9% 5.0 % 4.6% 4.5% 1.2 NOK 8.5 4.2% USD 1.08 4.0% 4.0% 3.9% USD per share NOK 6.0 4.0 % 3.6% 3.7% 1.0 NOK 5.0 3.5% USD 0.8 USD 0.75 2.8% 0.8 3.0 % 2.6% NOK 4.0 USD 0.6 USD 0.6 USD 0.56 0.6 2.0 % 0.4
Slide 26: Market Outlook
Market Outlook
Slide 27: Positioning TGS for the next energy upcycle
Positioning TGS for the next energy upcycle 1 Energy demand continues to rise and energy security is becoming critical Significant underinvestment in oil and gas, forces higher spending on all energy 2 sources 3 Recent exploration success drives frontier investments and licensing activity Price vola
Slide 28: Contract Backlog & Inflow
Contract Backlog & Inflow Contract Backlog 700 618 600 543 500 468 446 Timing of expected recognition of contract backlog MUSD 400 334 293 300 276 220 200 100 25% 0 Q3 2020 Q4 2020 Q1 2021 Q2 2021 Q3 2021 Q4 2021 Q1 2022 Q2 2022 Contract Inflow 180 163 61% 156 14% 160 140 120 107 MUSD 100 91 85 80 6
Slide 29: Highlights
Highlights • Strong late sales of USD 97 million in Q2 2022 compared to USD 30 million in Q2 2021 • Total revenue of USD 230 million compared to USD 72 million in Q2 2021 • POC revenue of USD 136 million compared to USD 54 million in Q2 2021 • Robust order inflow of USD 156 million compared to USD 4
Slide 30: Thank you
Thank you TGS?
Slide 31: Appendix
Appendix
Slide 32: TGS' Industry-Leading ESG Performance
TGS’ Industry-Leading ESG Performance OBX ESG Index OBX Included on Euronext Group’s OBX ESG Index as one of 40 blue-chip companies listed in Norway demonstrating best ESG ESG practices *As of May 2022 Sustainalytics Since 2016, TGS has been committed to the State Street UN Global Compact corporate
Slide 33: License Round Activity
License Round Activity Africa Europe Angola: North America Norway: • 2021 round – May 2022 (awards) • 2022 APA round – Sep 2022 (close) • 2023 round – 8 blocks Canada: • 2025 round – 10 blocks • Flemish Pass/Grand Banks/Jeanne d’Arc - UK: • Out of Round direct awards legally decreed Q4 2022 (close)