Transportadora De Gas Del Sur Sa Class B · BCBA:TGSU2
Transportadora De Gas Del Sur Sa Class B — Gas Transporter of the South — Q4 2024 Earnings Presentation
23 slides from Transportadora De Gas Del Sur Sa Class B's earnings presentation, Feb 27, 2025
Slide 1: tgs announces results for the fourth quarter (4Q2024)
tgs announces results for the fourth quarter (“4Q2024”) ended on December 31, 2024 (1) Transportadora de Gas del Sur (" tgs ", "the Company", “us”, “our”, or “we”) is the leader in Argentina in the transportation of natural gas, transporting approximately 60% of the gas consumed in the country, thro
Slide 2: Buenos Aires, Argentina, February 27, 2025
Buenos Aires, Argentina, February 27, 2025 During the 4Q2024, total comprehensive income amounted to Ps. 129,619 million, or a Ps. 172.19 income per share (Ps. 860.96 per ADS), compared to a total comprehensive loss of Ps. 51,090 million, or Ps. 67.87 loss per share (Ps. 339.36 per ADS) in the fourt
Slide 3: Operating profit for 4Q2024
The operating profit for 4Q2024 amounted to Ps. 198,291 million, Ps. 148,975 million above 4Q2023. This variation was mainly due to higher revenues from the Natural Gas Transportation and Liquids Production and Commercialization segments ("Liquids") of Ps. 89,710 million and Ps. 38,434 million, resp
Slide 4: Breakdown of net cost of sales, administrative and selling expenses
The breakdown of net cost of sales , administrative and selling expenses for 4Q2024 and 4Q2023 is shown in the table below:
Slide 5: Cost breakdown table
Natural gas purchase (RTP) 28% 49,561 29% Labor costs 17% 33,037 19% Taxes, fees and contributions 11% 16,530 10% Repair and maintenance 10% 14,882 O% Other fees and third parties services 12% 16,498 10% Depreciation 18% 35,806 21% Other charges 3% 6,923 We
Slide 6: Natural Gas Transportation
Natural Gas Transportation Operating profit of the Natural Gas Transportation segment for the 4Q2024 was Ps. 99,052 million, while in 4Q2023 this business segment recorded an operating loss of Ps. Ps. 25,064 million.
Slide 7: Natural Gas Transportation results table
Natural Gas Transportation 402024 492023 Variation (in million of Argentine pesos) Revenues 133,930 44,220 89,710 203% Inter com pany revenues 4,295 1,585 2741 171% Cost of sales 65,513) 57,389) 8,124) 14% Other administrative and selling expenses 15,097) 12,903) 2,194) 17% Reversal of impairment of
Slide 8: Tariff increases and RQT process
During 2024, this business segment, subject to ENARGAS regulation, received an initial tariff increase of 675% effective April 2024. Subsequently, effective on August 1, September 2, October 1, November 4, December 4, 2024, January 1, and February 1, 2025, ENARGAS published new transitional tariff c
Slide 9: Liquids segment operating profit
Operating profit of this business segment for 4Q2024 was Ps. 29,333 million above 4Q2023, reaching Ps. 74,896 million (compared to Ps. 45,563 million in 4Q2023). This increase was mainly due to higher revenues of Ps. 38,434 million, an effect that was partially offset by higher net cost of sales and
Slide 10: Liquids volumes and revenues
402024 402023 Variation (in tons) Local market Ethane 100,338 89,369 10,969 Propane 37,152 45,083 (7,931) Butane 34,758 45,861 (11,103) Subtotal 172,248 180,313 (8,065) Foreign market. Natural gasoline 27,801 32,973 (5,172) Subtotal 166,063 90,266 75,797 Total 338,311 270,579 67,732 (in million of A
Slide 11: Midstream and Telecommunications
Midstream and Telecommunications Midstream and Telecommunications business segment includes mainly services provided by tgs at Vaca Muerta, representing approximately 16% and 26% of our total revenues in 4Q2024 and 4Q2023, respectively.
Slide 12: Midstream operating profit decrease
Operating profit decreased by Ps. 4,475 million mainly as a result of the Ps. 2,385 million decline in revenues and the increase in net cost of sales, administrative and selling expenses of Ps. 1,910 million. The decrease in revenues was primarily related to the inflation adjustment in accordance wi
Slide 13: Financial position analysis
Financial position analysis Net debt As of December 31, 2024, our negative net debt amounted to Ps. 216,429 million, which compares to the positive net debt of Ps. 76,262 million as of December 31, 2023. Our total net financial debt is denominated in foreign currency for both periods. During 4Q2024,
Slide 14: Net debt reconciliation
12/31/2024 12/31/2023 (in million of Argentine pesos) Current loans 78,396 131,893 Non current loans 501,713 895,185 Cash and cash equivalents (59,974) 4371) (Other finandal assets at fair value through profit or loss (464,955) (473,717), Other finandal assets at amortized cot. (271,609) (462,788) N
Slide 15: Liquidity and capital resources
Liquidity and capital resources The net variation in cash and cash equivalents for 4Q2024 and 4Q2023 is broken down as follows:
Slide 16: Funds allocation
As of December 31, 2024 and 2023, the funds allocation was as follows:
Slide 17: Cash and fund allocations table
12/31/2024 12/31/2023 Cash and banks 41,859 5,818 Mutual funds 7,717 4,080 Interest -bearing current bank accounts 398 4,472 Total cash and cash equivalents 59,974 14,371 Public debt bonds 201,860, 226,253, Private debt bonds 217,663 204,196 Time deposits 271,609 462,788 Shares 45,431 43,258 Total f
Slide 18: 4Q2024 vs. 4Q2023 cash flow
4Q2024 vs. 4Q2023 During 4Q2024, the cash flow provided by operating activities amounted to Ps. 165,457 million, while in 4Q2023 the cash flow provided by operating activities totaled Ps. 113,969 million. The positive variation is mainly related to lower interest payments and the increase in working
Slide 19: Transportadora de Gas del Sur S.A. financial information
Transportadora de Gas del Sur S.A. (In millions of Argentine pesos, except for per share and Per ADS information in pesos or where otherwise indicated) nancial Information for the three month periods ("4Q") and fiscal years ("FY") ended December 31, 2024 and 2023 492024 492023 FY2024 FY2023 Natural
Slide 20: Financial results for the three-month periods and fiscal years
Financial results for the three three-month periods and fiscal years ended December 31, 2024 and 2023 (in million of Argentine Pesos) 492024 492023 Fy2024 FY2023 Financial income Interest 4,788 36,745 23,245 52,676 Foreign exchange gain 20,847 332,719 92,554 588,432 Subtotal 25,635 359,464 116,195 6
Slide 21: Business Segment information
Business Segment information Natural Gas ee Gade Midstream —Telecommunications, Total (Cin million of Argentine Pesos) FY2024 —— festa Thassos! Tieden a eee ae : : SEE ee CT = se — Te ae sete oe Gani (elma Tesooai Se) ‘Operating (loss) / profit (26,640) 186,762 93,607 Ga) 253,558 Natural Gas Picinio
Slide 22: Consolidated Statement of Financial Position
Consolidated Statement of Financial Position as of December 31, 2024 and 2023 (in million of Argentine pesos) 32/31/2024 12/31/2023 Assets Non Current assets Proparty, plart and equipment 2.384,577 2,162,194 Investments in associates 125 22 Ctherfinandal assets at arottized cost c 233,23 Defamed inc
Slide 23: Consolidated Statement of Cash Flows
Consolidated Statement of Cash Flows for the fiscal years ended December 31, 2024 and 2023 (an million of Argentine Pesos) 2024 2023 Cash flows provided by operating activities Total comprehensive ‘come for the year 370,163 51,214) Reconciliation of net income to cash flows provided by operating act
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