Promigas Sa Esp · BVC:PROMIGAS
Promigas Sa Esp — Promigas — Q4 2021 Earnings Presentation
47 slides from Promigas Sa Esp's earnings presentation, 2022
Slide 1: Corporate Results 4Q
PROMIGAS CORPORATE RESULTS 4Q =>- PROMIGAS
Slide 2: Disclaimer
DISCLAIMER Promigas, S.A., E.S.P. (“Promigas”) is a securities issuer in Colombia, registered in the National Registry of Securities and Issuers. Considering the foregoing, it is subject to compliance with the securities regulations applicable in Colombia, in addition, it has committed itself as an
Slide 3: Corporate Results 4Q
CORPORATE RESULTS 4Q
Slide 4: Relevant Facts
RELEVANT FACTS Period results consolidated Energy services Ebitda: $501,900 MM -37% 4Q-2020 – 4Q-2021 Promigas advances in the consolidation of services to accompany the energy transition and descarbonization of Net Income: $265,046 MM -47% 4Q-2020 – 4Q-2021 our clientes, accumulating, 17.5MWp contr
Slide 5: Relevant Facts
RELEVANT FACTS Period results ESG Compliance 109% (+$94,230 MM) • Sustainability Government Model for the Role of Budget 2021. Net Income: $1.15 Bn. Corporate Center. • Implementation of the Gender Policy in Board of Directors: % women SBU Transportation 34%, SBU Regulatory aspects Distribution 33%
Slide 6: Relevant Data by SBU
4% 298* 46% 1032* 50% 1118* RELEVANT DATA BY SBU HOME OFFICE ALTERNANCY FIELD WORK / OFFICE * Empleados directos Accumulated to December 2021 SBU TRANSPORTATION SBU DISTRIBUTION Colombia Peru Total 4.0 MM 1.4 MM 5.4 MM Transportation Users Gas Pipeline Volumen Δ4% Δ26% Δ9% Network Capacity Transport
Slide 7: Financial Results Individual 4Q 2021
FINANCIAL RESULTS INDIVIDUAL 4Q 2021 Revenue (1) Ebitda Net Income $0.4 Bn (Exec.113%) $0.3 Bn (Exec.110%) $0.3 Bn (Exec.98%) Variation 2021 - 2020 -31% -36% -49% 62% 38% Participation Method Promigas 1Revenue: Operating Revenue + Participation Method
Slide 8: Financial Results Individual Accumulated December 2021
FINANCIAL RESULTS Accumulated INDIVIDUAL December 2021 Revenue (1) Ebitda Net Income $1.6 Bn (Ejec.110%) $1.4 Bn (Ejec.111%) $1.1 Bn (Ejec.109%) Variation 2021 - 2020 7% 6% 1% 60% 40% Participation Method Promigas 1Revenue: Operating Revenue + Participation Method
Slide 9: Financial Results Consolidated 4Q 2021
FINANCIAL RESULTS CONSOLIDATED 4Q 2021 Revenue (1) Ebitda (2) Net Income* $1.2 Bn (Exec.105%) $0.5 Bn (Exec.109%) $0,3 Bn (Exec.101%) Variación 2021 - 2020 10% -37% -47% 27% 34% 32% 73% 66% 68% Transportation Distribution *The net income of the individual and consolidated financial statements must a
Slide 10: Financial Results Consolidated Accumulated December 2021
FINANCIAL RESULTS Accumulated CONSOLIDATED December 2021 Revenue (1) Ebitda (2) Net Income* $4.5 Bn (Exec.100%) $2.0 Bn (Exec.108%) $1.1 Bn (Exec.104%) Variation 2021 - 2020 7% 1% -3% 29% 41% 38% 71% 59% 62% Transportation Distribution *The net income of the individual and consolidated financial sta
Slide 11: Results 4Q
VPO&l RESULTS 4Q
Slide 12: Our Operation Safe, Efficient and Reliable
OUR OPERATION SAFE, EFFICENT AND RELIABLE We reaffirm our commitment with excellence in the provision of our services Evolution of the percentage of corporate losses in Corporate Transported Volume Corporate Transportation Capacity transport 2017 to 2021 (MMCFD) 1,00% ≈ 1,153 MMCFD 0,80% 218 0,60% 2
Slide 13: Guaranteeing Safe Operation
GUARANTEEING Vision accidents SAFE OPERATION Reduction LTI FR 2017 -2021 Lost Day Frecuency Rate 2021- *LTIFR 62% 4.66 18% Reduction of the LTIFR 2021 compared to 2020. 3.67 2.45 2.16 1.78 0 Fatal accidents. 2017 2018 2019 2020 2021 Unification of standards for security management in Corporativo Cor
Slide 14: SBU Transportation
RESULTADOS SBU TRANSPORTATION
Slide 15: SBU Transportation 2021 Companies
SPEC RESULTS 4Q SBU TRANSPORTATION 2021 SAFE AND RELIABLE INFRASTRUCTURE AT THE SERVICE OF THE COUNTRY'S ENERGY MATRIX -24% 41% COMPANIES 3% 41% 3% SBU Transportation 2020 2021 2020 2021 -24% Var% Var% Millions of COP Oct - Dec Oct - Dec Jan - Dec Jan - Dec Revenue 344,844 344,740 0% 1,325,730 1,350
Slide 16: Natural Gas Transportation Promigas Atlantic Coast
NATURAL GAS TRANSPORTATION PROMIGAS – ATLANTIC COAST THERMOELECTRIC SECTOR -24% • It remained stable compared to the same quarter of 2020. 41% NON-THERMOELECTRIC SECTOR 3% • Gas consumption in the industrial sector decreased by 2% compared to the same quarter of 2020, mainly due to maintenance at th
Slide 17: Natural Gas Transportation
TRANSPORTATION NATURAL GAS Volume transported (MMCFD) -24% Oct-Dec Oct-Dec Var% • Effect on transported volumes due 2020 2021 to an emergency in the Gibraltar - -52% Bucaramanga gas pipeline (Aug 3 33 16 to Dec 14). 41% 3% By the end of the fourth quarter, it reached: 335 KM 49.9 MMCFD Pipeline Leng
Slide 18: Relevant Aspects
RELEVANT ASPECTS • Revenues from • Availability of 100% in • 32% progress in the Promigas gas pipeline the BOMT of the Bonga- construction of the maintenance services Mamey plant by 4Q Promigas Zona increased by 36% in 4Q 2021. Bananera gas pipeline, 2021 vs. 2020. as planned. Natural Gas Infrastruc
Slide 19: SPEC LNG Relevant Aspects of a Strategic Asset
SPEC LNG RELEVANT ASPECTS OF A STRATEGIC ASSET FOR THE SECTOR AND THE COUNTRY Key actor in country’s energy Hechos Operativos 2020 2021 2020 2021 matrix reliability Destacables Oct - Dec Oct - Dec Var% Ene - Dec Ene - Dec Var% -24% Number of LNG Shipments 0 0 0 14 3 -78.6 Received LNG (M3) 0 0 0 689
Slide 20: Natural Gas Transportation Regulatory Aspects
NATURAL GAS TRANSPORTATION Var% REGULATORY ASPECTS 4Q-2021 NATURAL GAS TRANSPORTATION METHODOLOGY Resolution 175 of 2021: • -24% 2022. Carriers must submit their rate applications in February • Updating of charges by stages, asabril of June 1 the rates are updated with the cost of capital rate and t
Slide 21: SBU Distribution
RESULTS SBU DISTRIBUTION fe at ely oe —_ PROMIGAS™
Slide 22: SBU Distribution 2021 Companies
Gases del Caribe Gases de La Guajira RESULTS 4Q Surtigas SBU DISTRIBUTION 2021 WE GROW BY STAYING CLOSE TO OUR CUSTOMERS, ALWAYS INNOVATING AND TAKING ADVANTAGE OF OUR EXPERIENCE Efigas GdO -24% CEO COMPANIES 41% GASES DEL PACÍFICO 3% Quavii GASES DEL NORTE Promigas Perú SBU Distribution 2020 2021 2
Slide 23: SBU Distribution Relevant Aspects
SBU DISTRIBUTION RELEVANT ASPECTS We provide 38% of users with access to Natural Gas in Colombia and 94% in Peru • The goals set for 2021 were exceeded, despite the challenges posed by the COVID-19 pandemic and the National Strike. • We continue to advance in the digital transformation of business t
Slide 24: SBU Distribution Relevant Aspects
SBU DISTRIBUTION RELEVANT ASPECTS Electric Power • Fitch Ratings rated CEO for the first time, granting it AAA, the highest credit rating at the local level. Energy Solutions • We are allies in energy transformation, offering comprehensive and sustainable solutions for renewable energy and energy ef
Slide 25: SBU Distribution Accumulated Results
SBU DISTRIBUTION ACCUMULATED RESULTS Var% Brilla 748 K 37% INCOME BRAKET 1 Users with portfolio Brilla as of 2021 45% INCOME BRAKET 2 Volume N.G. Demand E.P. 4.5 Millon INCOME 11,913 MMm3 Accumulated transactions BRAKET 3 1.002 GWh 14% Var. 10% since the start of the program OTHERS Var. 1% 4% 80% di
Slide 26: Corporate Aspects: Sustainable Management (ESG)
CORPORATE ASPECTS SUSTAINABLE MANAGEMENT (ESG)
Slide 27: Our Route to Decarbonization
OUR ROUTE TO DESCARBONIZATION 1. MEASUREMENT 3. EMISSION REDUCTION TARGETS – TOWARDS NET ZERO Since 2013 we have measured our emissions annually and since 2016, We are part of the Carbon Neutrality initiatives led by the Ministry we have been certified under the ISO 14064 standard. of the Environmen
Slide 28: Contribution to Social Progress: Achievements
CONTRIBUTION TO SOCIAL PROGRESS ACHIEVEMENTS Total social investment 2021: For every $1 peso inverted from Management IV Quarter 2021 for We contribute to the SDGs: $37,427 million the Promigas Foundation, economic reactivation, focused on: $1,25 pesos were mobilized • English strengthening to acces
Slide 29: Financial Results 4Q
FINANCIAL RESULTS 4Q =
Slide 30: Financial Statements: Profit and Loss, Individual 4Q
FINANCIAL STATEMENTS PROMIGAS PROFIT AND LOSS Revenue for $421,983 MM (113% Budget) STATEMENT | Individual Operational Revenue (11%): increase originated mainly by higher billing TRM in 2021 ($3,731 in 2021 vs $3,482 in 2020). 4Q 2021 – 4Q 2020 Participation Method (-49%): This account, which reflec
Slide 31: Financial Statements: Profit and Loss, Individual 4Q
FINANCIAL STATEMENTS PROMIGAS PROFIT AND LOSS EBITDA for $346,135 MM (110% Budget) STATEMENT | Individual Decrease due to lower revenue from the participation method and higher costs and expenses due to higher specialized consulting services related to the incursion 4Q 2021 – 4Q 2020 into new busine
Slide 32: Financial Statements: Profit and Loss, Individual Accumulated
FINANCIAL STATEMENTS Revenue for $1.6 Bn (110% Budget) PROMIGAS PROFIT AND LOSS STATEMENT | Individual Operational Revenue (8%): This item shows an increase due to higher billing TRM in 2021 ($3,690 in 2021 vs. $3,518 in 2020), while we had lower revenues in 2020 due to flexibility of contracts as a
Slide 33: Financial Statements: Profit and Loss, Individual Accumulated
FINANCIAL STATEMENTS EBITDA for $1.4 Bn (111% Budget) PROMIGAS PROFIT AND LOSS Increase in EBITDA generated mainly by higher revenues from STATEMENT | Individual transportation and via the participation method due to the results of our affiliated companies, partially mitigated by higher costs and ex
Slide 34: Financial Statements: Balance Sheet Individual, Assets
FINANCIAL STATEMENTS PROMIGAS BALANCE SHEET INDIVIDUAL | December 2021 vs December 2020 Assets $9.3 Bn 11% (YTD) Other current assets (9%): show an increase mainly due to the dividends decreed by the related companies in the March 2021 assemblies, which 1% had an increase of 2% with respect to those
Slide 35: Financial Statements: Balance Sheet Individual, Liabilities
FINANCIAL STATEMENTS PROMIGAS BALANCE SHEET INDIVIDUAL | December 2021 vs December 2020 10% Liabilities Δ7% (YTD) Liabilities $4.3 Bn Current Liabilities (29%): increase in this account due to the transfer from long-term liabilities to 7% YTD debt bonds with short-term maturities, and balance due to
Slide 36: Q&A
Q&A
Slide 37: Annexes
ANNEXES SS. PROMIGAS
Slide 38: Promigas Cash Flow Statement
ANNEX PROMIGAS CASH FLOW STATEMENT Figures in Millions of Pesos December 2021 Net Profit 1,149,048 Depreciations, Amortizations and Provisions 156,686 Participation Method -845,113 Dividends Received 412,729 Changes in Assets/Liabilities -47,018 Operational Flow 826,332 Investment in Capital Goods -
Slide 39: Profitability Indicators: Promigas Individual
PROFITABILITY INDICATORS PROMIGAS INDIVIDUAL Annual Indicators Quarterly Indicators 85% 85% 80% 81% 74% 70% 70% 70% 26% 23% 23% 23% 12% 12% 14% 13% 2018 2019 2020 2021 ROE ROA Margen EBITDA Margen Neto
Slide 40: Financial Statements: Profit and Loss, Consolidated 4Q
FINANCIAL STATEMENTS PROMIGAS PROFIT AND LOSS STATEMENT | Consolidated Revenue (∆10%) 4Q 2021 – 4Q 2020 Operational Revenue (10%): Surtigas and GDO: increase Revenue1 EBITDA Utilidad neta in 2020 since there was a lower gross profit in the 10% -37% -47% marketing and distribution businesses, of righ
Slide 41: Financial Statements: Profit and Loss, Consolidated 4Q
FINANCIAL STATEMENTS PROMIGAS PROFIT AND LOSS EBITDA (∆-37%) STATEMENT | Consolidated Decrease in EBITDA mainly due to the mandatory application of IFRS 15 in Gases del Pacífico and Gases 4Q 2021 – 4Q 2020 del Norte de Perú in 2020 and retroactive to previous years, recognizing a margin associated w
Slide 42: Financial Statements: Profit and Loss, Consolidated Accumulated
FINANCIAL FINANCIEROS Revenue (∆7%) PROMIGAS PROFIT AND LOSS Operating Revenue (7%): Surtigas: higher profits in the natural gas business, NBF and materials and services, and lower STATEMENT | Consolidated financial costs. GDO: increase mainly due to better results in the natural gas business and lo
Slide 43: Financial Statements: Profit and Loss, Consolidated Accumulated
FINANCIAL FINANCIEROS EBITDA (∆1%) PROMIGAS PROFIT AND LOSS Increase in EBITDA mainly due to higher operating revenues. This STATEMENT | Consolidated was offset by higher costs and expenses as a result of the normalization of economic activities due to the end of the quarantine. Accumulated 2021 – A
Slide 44: Financial Statements: Balance Sheet Consolidated
FINANCIAL STATEMENTS PROMIGAS BALANCE SHEET | Consolidated 21% 15% Consolidated Balance Sheet Assets Activo Corriente Current Assets December 2021 $14.9 Bn 10% PP&E PP&E (COP) 21% ∆13% YTD Activos Concessioned Assets Concesionados Activo Financiero Financial Asset Liabilities 33% Assets $9.7 Bn $14.
Slide 45: Profitability Indicators: Promigas Consolidated
PROFITABILITY INDICATORS PROMIGAS CONSOLIDATED Annual Indicators Quarterly Indicators 47% 44% 41% 37% 27% 24% 22% 22% 25% 23% 22% 21% 12% 13% 11% 10% 2018 2019 2020 2021 ROE ROA Margen EBITDA Margen Neto
Slide 46: Results by SBU
RESULTS BY SBU SBU TRANSPORTATION SBU DISTRIBUTION 4Q 2021 CONSOLIDATED REVENUE1 $1,216,221 MM 27% 61% 12% Execution: 105% CONSOLIDATED EBITDA1 $501,900 MM 34% 58% 8% Execution: 109% CONSOLIDATED NET INCOME1 $ 265,046 MM 32% 67% 1% Execution: 101% ACCUMULATED DECEMBER 2021 CONSOLIDATED REVENUE1 $ 4,
Slide 47: #GoodEnergyInOneClic
PROMIGAS #GOODENERGYINONECLIC Investor Relations investors@promigas.com Calle 66 # 67-123 Barranquilla, Colombia @promigasoficial | promigas