Transportadora De Gas Del Sur Sa Class B · BCBA:TGSU2

Transportadora De Gas Del Sur Sa Class B — TGS-NOPEC Geophysical Company — Q3 2020 Earnings Presentation

33 slides from Transportadora De Gas Del Sur Sa Class B's earnings presentation, Oct 29, 2020

Slide 1: Q3 2020 Financial Results
Q3 2020 Financial Results Kristian Johansen Fredrik Amundsen CEO CFO 29 October 2020
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 • Q3 2020 net revenues of USD 80.6 million • Late sales USD 60.7 million • Pre-funding USD 17.4 million • Costs and capex re-set to reflect challenging market conditions • Q3 2020 Personnel and Other operational costs down 64% y/y • Forward run-rate reduced ~40% compared to 2019 pro-forma
Slide 4: Operational Highlights
na ee Operational Highlights < Ag
Slide 5: Q3 2020 Operational Highlights
Q3 2020 Operational Highlights 3D OPERATIONS OBN OPERATIONS FULL TENSION GRAV 1 Atlantic Margin 20 Engagement OBN JV eFTG Airborne Survey JV 2 3 ©TGS-NOPEC Geophysical Company ASA. All rights reserved 5
Slide 6: Key Projects in Q3 2020
Key Projects in Q3 2020 ENGAGEMENT – U.S. GOM AM20 3D – Offshore Norway eFTG SURVEY – Onshore MENA • Project completed in September 2020 • Completed acquisition of Atlantic Margin • The Enhanced Full Tensor Gravity OBN survey Gradiometry (eFTG) technology used for • Highly pre-funded project followi
Slide 7: Key R&D Achievements
Key R&D Achievements Update image OBN Tests ARLAS Cross Section Tool Augmented Quality Assurance • 11-day, industry supported, test of two different (AQuA) Toolkit low frequency source technologies, as part of • An evolution from the TGS ARLAS engine, this our continued investment in OBN projects in
Slide 8: Recent ESG Highlights
Recent ESG Highlights Increasing recognition • Received an A- rating in The Governance Group’s annual Top 100 ESG ranking for OSE listed companies Improving emission measuring • Established systems for accurately measuring environmental footprint of all surveys • Improved tracking of internally gene
Slide 9: Growing Interest for Alternative Uses of TGS Products
Growing Interest for Alternative Uses of TGS Products • Increased interest for TGS data and capabilities for non-Oil & Gas purposes • Ongoing projects and discussions related to: • Carbon Capture and Storage (CCS) • Wind energy • Geothermal energy • Deep Sea Minerals (DSM) • Several product developm
Slide 10: Financials
Financials
Slide 11: IFRS 15
IFRS 15 • The accounting standard IFRS 15 regarding revenue recognition implemented from 1 January 2018 • Implications for TGS • Recognition of revenues related to multi-client projects postponed until projects are delivered to customers • No amortization until completion of the project • No impact
Slide 13: Operating Expenses, EBIT, MC Investments
Operating Expenses, EBIT, MC Investments Pro-forma (incl. Spectrum) 1. Personnel costs and other operating expenses excluding reported non-recurring items 2. Earnings before interest and taxes excluding reported non-recurring items ©TGS-NOPEC Geophysical Company ASA. All rights reserved 13
Slide 17: Dividends
Dividends • The Board has resolved to maintain the dividend of USD 0.125 per share in Q4 2020 • Ex date 5 November 2020 – payment date 19 November 2020 1. Quarterly dividends defined in USD from 2016. Annual dividends defined in NOK prior to 2016, converted to USD with the FX rate at ex-dividend dat
Slide 18: Outlook
Outlook
Slide 19: COVID Continues to Cause Uncertainty in the Oil Market
COVID Continues to Cause Uncertainty in the Oil Market World liquid fuels production and consumption World liquid fuels implied stock build/(draw) 8.0 110 6.0 105 Change mbbl/day 100 4.0 Mbbl/day 95 2.0 90 0.0 85 -2.0 80 -4.0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1
Slide 20: Business Model with Counter-Cyclical Qualities
Business Model with Counter-Cyclical Qualities Free cash flow 12 months • Lean and adjustable cost base 1,000 900 800 • Asset-light – few capital commitments 700 600 • Counter-cyclical investment philosophy – MUSD 500 400 unit cost of investments correlated with cycles 300 200 100 • Track-record of
Slide 21: Further strengthening of cash flow capacity
Further strengthening of cash flow capacity 300 • Costs and capex re-set to reflect market conditions 250 200 • Significant cost cutting measures implemented during 2020 – full impact from Q4 MUSD 150 100 • Cash opex run rate: • ~40% lower than 2019 pro-forma 50 • ~30% lower LTM as of Q3 20 0 Cash o
Slide 22: Preliminary 2021 Investment Considerations
Preliminary 2021 Investment Considerations Multi-client investments and vessel dayrates • Counter-cyclical investment strategy – 600 planning for upholding investment data volumes through the downturn 500 400 • Monetary value of multi-client investments likely to be reduced in 2021 MC inv. MUSD 300
Slide 23: 2020 Project Schedule
2020 Project Schedule South Halfway 3D Ravenclaw 3D Land Plains 3D Kuukpik 3D Engagement OBN* Malvinas 3D Campos 3D Santos 3D 3D Norway AM 20 Senegal OUP-NORD-20 Senegal SN-UDO-19 Gambito 3D Para Maranhao 2D/Seaseep/Air Argentina 111/113 & 102 Potiguar 2D eFTG Airborne Survey* Nigeria Seaseep Jan Fe
Slide 25: Summary
Summary • Q3 2020 net revenues of USD 80.6 million • Late sales USD 60.7 million • Pre-funding USD 17.4 million • Q3 2020 Costs and capex re-set to reflect challenging market conditions • Q3 2020 Personnel and Other operational costs down 64% y/y • Forward run-rate reduced ~40% compared to 2019 pro-
Slide 26: Appendix
Appendix
Slide 31: Multi-Client Library – Investments and NBV by year of completion
Multi-Client Library – Investments and NBV by year of completion Pro-forma (incl. Spectrum) 1. Operational multi-client seismic investments ©TGS-NOPEC Geophysical Company ASA. All rights reserved 31
Slide 32: Multi-Client Library – Net revenues and NBV by year-of-completion
Multi-Client Library – Net revenues and NBV by year-of-completion Pro-forma (incl. Spectrum) 1. Operational multi-client seismic investments ©TGS-NOPEC Geophysical Company ASA. All rights reserved 32
Slide 33: Thank you
Thank you

TGS-NOPEC Geophysical Company — Q3 2020 Earnings Presentation on 6ix

Transportadora De Gas Del Sur Sa Class B — TGS-NOPEC Geophysical Company — Q3 2020 Earnings Presentation

Slide 1: Q3 2020 Financial Results

Slide 2: Forward-looking statements

Slide 3: Highlights

Slide 4: Operational Highlights

Slide 5: Q3 2020 Operational Highlights

Slide 6: Key Projects in Q3 2020

Slide 7: Key R&D Achievements

Slide 8: Recent ESG Highlights

Slide 9: Growing Interest for Alternative Uses of TGS Products

Slide 10: Financials

Slide 11: IFRS 15

Slide 12: Net Revenues

Slide 13: Operating Expenses, EBIT, MC Investments

Slide 14: Income Statement

Slide 15: Balance Sheet

Slide 16: Cash Flow Statement

Slide 17: Dividends

Slide 18: Outlook

Slide 19: COVID Continues to Cause Uncertainty in the Oil Market

Slide 20: Business Model with Counter-Cyclical Qualities

Slide 21: Further strengthening of cash flow capacity

Slide 22: Preliminary 2021 Investment Considerations

Slide 23: 2020 Project Schedule

Slide 24: Backlog

Slide 25: Summary

Slide 26: Appendix

Slide 27: Income Statement

Slide 28: Balance Sheet

Slide 29: Reconciliation

Slide 30: Multi-Client Library

Slide 31: Multi-Client Library – Investments and NBV by year of completion

Slide 32: Multi-Client Library – Net revenues and NBV by year-of-completion

Slide 33: Thank you