Central Puerto Sa · BCBA:CEPU
Central Puerto Sa — Q4 2024 Earnings Presentation
17 slides from Central Puerto Sa's earnings presentation, Mar 12, 2025
Slide 1: FY2024 & 4Q24 Earnings Webcast
FY2024 & 4Q24 Earnings Webcast March 12th, 2025
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
FY 2024 &4Q24 Earnings Webcast - Agenda FY 2024 & 4Q24 Key Figures Regulatory Update and News Argentine Market Overview Central Puerto’s consolidated main operating metrics Financial Results Questions & Answers 3
Slide 4: FY24 & 4Q24 Key Figures
FY24 & 4Q24 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 FY24 4Q24 FY24 4Q24 FY24 4Q24 FY24 4Q24 4Q24 6,703 21.6 5.4 671 168 288 65 52 (28) 132 +4% Y/Y +5% Y/Y +25% Y/Y +71% Y/Y 4% Y/Y 44% Y/Y (73%) Y/Y (118)%
Slide 5: Regulatory Updates and News
Regulatory Updates and News Spot market (Energía Base) Energy and capacity prices adjustments Resolution Date % Increase SE N°285/2024 Oct-24 3% SE N°20/2024 Nov-24 6% SE N°387/2024 Dec-24 5% SE N°603/2024 Jan-25 4% SE N°27/2025 Feb-25 4% SE N°113/2025 Mar-25 1.5% Resolution SE N°294/2024 (Oct-24) C
Slide 6: Regulatory Updates and News – cont.
Regulatory Updates and News – cont. Resolution Beginning of deregulation. Key aspects: SE N°21/2025 (Jan-25) - New thermal facilities, with COD January 1, 2025 onwards, are able to sign Purchase Power Agreements (PPAs) with private agents.. - Since March 1st it is possible to purchase fuel again. -
Slide 7: Regulatory Updates and News – cont.
Regulatory Updates and News – cont. Puna Transmission Line - Agreement with IFC (Dec-24): to jointly finance the feasibility studies of the Puna power transmission line. - Agreement with YPF Luz (Jan-25): to jointly carry-on the analyses and development of this strategic project. Investment in minin
Slide 8: Argentine market overview
Argentine market overview (1) Installed Capacity Energy Generation (MW) (TWh) (423) MW (0.7) TWh (1%) 43,773 43,350 34.9 (2%) 34.1 4% 4% 8% 4% 13% 16% 16% 19% 25% 22% 25% 35% 58% 58% 52% 41% 4Q23 4Q24 4Q23 4Q24 Thermal Hydro Renewable Nuclear Thermal Hydro Renewable Nuclear • Renewable generation wa
Slide 9: Argentine market overview
Argentine market overview (1) Local Energy Demand (TWh) ~ 0 TWh ~ 0% (0.2) 0.1 0.1 13.6 14.0 13.1 13.1 13.1 12.513.2 13.0 11.9 12.9 12.6 11.8 12.0 11.7 12.2 12.1 11.8 12.2 11.0 11.8 10.6 10.9 10.0 11.2 11.0 10.5 11.3 11.1 11.5 33.3 33.3 10.8 10.1 10.0 10.3 10.2 10.2 10.7 4Q23 Residential Commercial
Slide 10: Central Puerto's Consolidated operating metrics
Central Puerto’s Consolidated operating metrics(1) Energy Generation Thermal Availability (%) (GWh) Steam & gas turbines 100%97% 248 GWh 5% 74% 72% 68% 73% 67% 60% 61% 63% 62% 760 (513) (14) 15 35% Puerto Lujan de Cuyo Brigadier Central CEPU avg. Market avg. 4Q23 4Q24 4Q23 4Q24 Nuevo/Nuevo Lopez Cos
Slide 11: 4Q24 Revenues breakdown
4Q24 Revenues breakdown (1) Revenues (1) (US$ mm) Spot Sales (Legacy) +70 ▲ Cash effect on the gap between currency devaluation and 71% spot remuneration increases. ▲ Non-cash effect on the gap between currency devaluation and inflation, primarily attributed to the one-time devaluation of Dec- 2023.
Slide 12: 4Q24 Reconciliation of Adj. EBITDA
4Q24 Reconciliation of Adj. EBITDA (1) Adj. EBITDA (1) Revenues (US$ mm) ▲ Higher aggregate sales (spot sales and sales under contracts). ▲ Cash effect on the gap between currency devaluation and +20 remuneration increases. 44% ▲ Non-cash effect on the gap between currency devaluation and inflation,
Slide 13: 4Q24 Reconciliation of Net Income
4Q24 Reconciliation of Net Income(1) Net Income (1) (US$ mm) Non-Cash Effects (183) (118%) ▼ Impairment & higher D&.A. ▼ One-time gains from M&A transactions in 2023. ▲ Results driven by the change in purchasing power of the currency (lower inflation). ▲ Higher variation in biological assets. 156 FO
Slide 14: 12M24 Consolidated Cashflow
12M24 Consolidated Cashflow (1) Cashflow Bridge (1) (US$ mm) Operating Cash Flow (20) ▲ Income before income tax of the period. (84%) ▲ Interest collect from clients. 250 ▲ Insurance recovery. ▼ Tax payments. Investing Activities ▼ CAPEX San Carlos and Brigadier Lopez projects ▼ Acquisition of finan
Slide 15: Low leverage ratio and manageable short-term maturities
Low leverage ratio and manageable short-term maturities Debt Maturity schedule(1)(2) (US$ mm.) 132 Net Debt/ Adj. EBITDA(3) 0.5x 50 86 81 24 47 56 29 30 30 58 23 17 18 18 30 11 12 12 12 2025 2026 2027 2028 2029 (+)2030 Corporate Loan Project Finance Corporate Bond (1) As of December 31th, 2024. (2)
Slide 16: Questions & Answers
FY2024 & 4Q24 Earnings Webcast March 12th, 2025 Questions & Answers
Slide 17: FY2024 & 4Q24 Earnings Webcast
FY2024 & 4Q24 Earnings Webcast March 12th, 2025