Central Puerto Sa · BCBA:CEPU
Central Puerto Sa — Q4 2023 Earnings Presentation
15 slides from Central Puerto Sa's earnings presentation, Mar 11, 2024
Slide 1: FY2023 & 4Q23 Earnings Webcast
FY2023 & 4Q23 Earnings Webcast March 11 , 2024 th
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
FY23 & 4Q23 Earnings Webcast - Agenda ▪ FY23 & 4Q23 Key Figures ▪ Regulatory Update ▪ Argentine Market Overview ▪ CEPU main operating metrics ▪ Financial Results ▪ Questions & Answers 3
Slide 4: FY23 & 4Q23 Key Figures
FY23 & 4Q23 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 TWh FY23 4Q23 FY23 4Q23 FY23 4Q23 FY23 4Q23 7,173 20.8 5.2 536.9 98.0 276.8 45.2 193.3 155.8 286.8 +49% Y/Y +19% Y/Y +10% Y/Y (5%) Y/Y (19%) Y/Y (26%) Y/Y (
Slide 5: Regulatory Update
Regulatory Update Resolution Resolution Resolution No. 59/2023 (Feb-23) SE N°621/2023 (Jul-23) SE N°869/2023 (Nov-23) This resolution was designed to Energy and capacity encourage investments for major Announcement of a new prices update for and minor maintenance activities of tender process for the
Slide 6: Argentine market overview
Argentine market overview (1) Installed Capacity(2) Energy Generation (MW) (TWh) +847 MW +2% 42,927 43,774 35.1 34.8 4% 4% 1% 8% 12% 13% 15% (4%) 17% 25% 25% 29% 35% 59% 58% 54% 41% 4Q22 4Q23 4Q22 4Q23 Thermal Hydro Renewable Nuclear Thermal Hydro Renewable Nuclear Thermal: 162 MW • Higher supply fr
Slide 7: Argentine market overview: local energy demand
Argentine market overview (1) Local Energy Demand 16.0 (TWh) 35% -1.3 TWh (4%) 14.0 30% 14.0 13.6 34.6 13.1 13.1 13.0 29% 12.612.5 25% 11.9 12.1 33.3 12.0 11.7 11.811.8 11.8 (5%) 11.3 (4%) 10.9 11.0 11.0 (1%) 10.8 20% 10.6 10.5 10.110.0 10.3 10.2 10.0 15% 8.0 13% 10% 4Q22 Residential Industrial Comm
Slide 8: Central Puerto operating metrics
Central Puerto operating metrics (1) Energy Generation Thermal Availability(2) (GWh) (%) Steam & gas turbines +481 +10% 94%100% 80%74% 71% 72% 67%63% 60% 287 73 5,168 4,687 856 (21) (714) Puerto Lujan de Cuyo Brigadier Central (3) Market Complex Lopez Costanera average +142 4Q22 4Q23 Combined Cycles
Slide 9: 4Q23 Revenues breakdown
4Q23 Revenues breakdown (1) Revenues (1) Forestry (US$ mm) ▲ FASA acquisition in Dec-22 and EVASA acquisition in -21.6 May-23 (18%) Sales under contracts ▼ Non-cash effect on the gap between inflation and currency devaluation 120.9 2.0 ▼ Lower sales from wind farms on lower wind resource 98.0 ▲ Guañ
Slide 10: 4Q23 Reconciliation of Adj. EBITDA
4Q23 Reconciliation of Adj. EBITDA(1) Adj. EBITDA (1) (US$ mm) Cost of Sales (23) ▲ Non-cash effect on the gap between inflation and (34%) currency devaluation ▲ Reclassification of consumption of materials and spare parts allocated to the maintenance works carried on the 5.8 cogeneration units of L
Slide 11: 4Q23 Reconciliation of Net Income
4Q23 Reconciliation of Net Income(1) Net Income (1) (US$ mm) Non-Cash Effects +142.5 ▲ Recovery of Impairment in 4Q23 vs a loss in 4Q22 +11.7x ▲ Variation on biological asset FONI FX Differences and Interest ▲ Higher positive FX differences 21.1 71.9 Gain on fair value valuation of acquisition ▲ Fai
Slide 12: FY23 Consolidated Cashflow
FY23 Consolidated Cashflow (1) Cashflow Bridge (1) (US$ mm) Operating Cash Flow -35.5 ▲ Adj. EBITDA of the period + FONI collections. (68%) ▼ Income tax Investing Activities 221.9 ▼ CECO, EVASA and Guañizul II A acquisition. ▼ CAPEX ▼ Acquisition of financial assets (135.0) Financing Activities 52.2
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.) 123.8 Net Debt/ Adj. 50 FY24: 82.1 81.5 EBITDA(3) 58.9 64 47 29.0 30.0 30.1 56 1.0x 19.8 14.4 16.1 23 17 18 18 12 8.6 26 12 14 8 6.1 9 12 12 12 12 2 2 2 1Q24 2Q24 3Q24 4Q24 2025 2026 2027 2028 2029 (+)2030
Slide 14: Questions & Answers
FY23 & 4Q23 Earnings Webcast March 11th, 2024 Questions & Answers
Slide 15: FY23 & 4Q23 Earnings Webcast
FY23 & 4Q23 Earnings Webcast March 11th, 2024