Transportadora De Gas Del Sur Sa Class B · BCBA:TGSU2
Transportadora De Gas Del Sur Sa Class B — Gas Transporter of the South — Q1 2021 Earnings Presentation
42 slides from Transportadora De Gas Del Sur Sa Class B's earnings presentation, May 18, 2021
Slide 1: Reseña Informativa
Reseña Informativa Re
Slide 2: Financial Statements as of March 31, 2021 - Index
TRANSPORTADORA DE GAS DEL SUR S.A. FINANCIAL STATEMENTS AS OF MARCH 31, 2021 INDEX 01. ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS FOR THE THREE-MONTH PERIOD ENDED MARCH 31, 2021 02. CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS Statements of comprehensive income Statements of fi
Slide 3: Activities of the Company in 1Q2021 and 1Q2020
Activities of the Company in 1Q2021 and 1Q2020 Revenues Revenues for 1Q2021 decreased by Ps. 694 million from the same period last year, mainly as a consequence of lower revenues from the Natural Gas Transportation business segment. This effect was partially offset by the increase in revenues from t
Slide 4: Other Services
Other Services Revenues derived from the Other Services segment increased Ps. 233 million in 1Q2021 compared to the same period of 2020. This increase is due to higher revenues corresponding to transportation and conditioning services for natural gas in Vaca Muerta and the effect of the increase in
Slide 5: Other operating results
Other operating results The other operating results recorded a positive variation of Ps. 107 million mainly as a result of the recognition of the collections received for insurance recovery.
Slide 6: Liquidity and sources and application of funds
The negative variation is mainly due to the loss generated by the operations carried out with financial assets measured at fair value and to the lower results from derivative financial instruments and acquisition of notes recorded in 1Q2021. These effects were partially offset by the higher gain on
Slide 7: Net decrease in cash and cash equivalents
Net decrease in cash and cash equivalents had a positive variation of Ps. 6,665 million. Regarding the cash flow used for financing activities, it showed no movement during 1Q2021, while during 1Q2020 amounted to Ps. 4,625 million as a result of: (i) payments made for the repurchase of treasury shar
Slide 8: Consolidated Comprehensive Income Summary
4. Consolidated Comprehensive Income Summary Summary of the consolidated comprehensive income information for the 1Q2021, 1Q2020, 1Q2019 and 1Q2018:
Slide 9: Consolidated Cash Flow Summary
5. Consolidated Cash Flow Summary Summary of the consolidated cash flow information for 1Q2021, 1Q2020, 1Q2019 and 1Q2018:
Slide 10: Cash flow summary (in thousands of Argentine Pesos)
(ip thousands of Argentine Pesos) ‘Cash flows provided by operating activities 9,003,404 7,443,954 7.168.959) 7.168.959 Cash flows used in investing activities (01,445,701) (41,927,292) (6,991,771) (6,991,771) Cash flows used in financial activities = (4,625,307) (28,833) (28,833) Net (decrease) / i
Slide 11: Gas Transportation
2021 2017 Gas Transportation Average frm contracted capaaty Gn billions of cubic feet per day ("Bef/d")) 2.91 2.91 2.91 2.87 2.78 Average daly delvenes (in BA/d) 2.08 2.19 2.18 2.15 2.05 NGL production and commercial Production Ethane (in short tons) 33,152 106,825 108,187 118,397 68,278 Propane (in
Slide 12: Luis Alberto Fallo
Luis Alberto Fallo Chairman of the Board of Directors
Slide 13: Luis Alberto Fallo
Luis Alberto Fallo Chairman of the Board of Directors
Slide 14: Luis Alberto Fallo
Luis Alberto Fallo Chairman of the Board of Directors
Slide 15: Luis Alberto Fallo
Luis Alberto Fallo Chairman of the Board of Directors
Slide 16: Subsidiary control and impact of COVID-19
Detailed data reflecting subsidiary control as of March 31, 2021 is as follows: Company Incorporation country Closing date Main activity Telcosur Argentina December 31 Telecommunication Services CTG Argentina December 31 Electrical power related services Impact of COVID-19 (“COVID”) on tgs operation
Slide 17: Three-month period ended March 31, 2021
‘Three-month period ended March 31, 2021 Production and Natural Gas Commercialization Other ‘Transportation of Liquids Services __Telecommunications Eliminations, Total Revenues 5,328,005. 9,859,509 1,395,928 86,756 = 16,670,199 Intercompany revenues from sales 220,412 = = = (220,412) = Cost of sale
Slide 18: Breakdown of revenues by market and opportunity
The breakdown of revenues by market and opportunity for the three-month periods ended March 31, 2021 and 2020 is as follows:
Slide 19: Three-month period ended March 31, 2021
Three-month period ended March 31, 2021 Production and Palen Commercialization Other Services Telecommunications Total Per destination market External Market = 5250.50 = = $280,501 Local Market 5,328,005 4,578,908 1,385,539 86,756 71,389,598 Total 5,328,005 9,859,509 1,395,929 26,756 16,670,199. Tim
Slide 20: Three-month period ended March 31, 2020
Three-month period ended March 31, 2020 Production and Tear Gas, Commercialization Other Services Telecommunications Total of Liquids Per destination market External market 2,936,161 Z 2536161 Local market 7,724,080 5,454,586 1980,766 168,871 14,428,308 Total 7,724,080 3,390,747 1,080,766 168,871 17
Slide 21: Movement of the allowance for doubtful accounts
The movement of the allowance for doubtful accounts is as follows:
Slide 22: Allowance for doubtful accounts balances
Balances as of 12/31/2019 = ‘Additions 227,069 Applications - Decreases = Balances as of 03/31/2020 227,069 Inflation adjustment restatement (49,901) Additions © 36,539 Applications = Decreases (152,637) Balances as of 12/31/2020 61,070. Inflation adjustment restatement (7,003) ‘Additions : Applicat
Slide 23: Movement of the allowance for doubtful accounts
The movement of the allowance for doubtful accounts is as follows:
Slide 24: For doubtful accounts
For doubtful accounts Balances as of 12/31/2019 207,529 Inflation adjustment restatement (14,084) ‘Additions Applications Decreases Balances as of 03/31/2020 193,445 Inflation adjustment restatement (43,759) Additions Applications Decreases Balances as of 12/31/2020 149,686 Inflation adjustment rest
Slide 25: Operating expenses
2021 2020 Operating expenses Regulated Non-regulated Administrative _Selling Financial Accounts Total activities activities expenses expenses expenses Total Salaries, wages and other compensations 680,089 278,174 241,154 120,585 40,176 - 1,039,504 Social security taxes 268,971 122,907 77,193 49,826
Slide 26: Other operating results, net
l) Other operating results, net
Slide 27: Description of securities
03/31/2021 12/31/2020 Description of seaurities Face Amount Cost Book Book Name and issuer value value value Transporte y Servicios de Gas en Uruguay S.A. Ps.Uru.1 196,000 280 8,823, 9,646 Emprendimientos de Gas del Sur S.A. (in liquidation) $1 116,130 3,115 504 553 Gas Link S.A. $1 502,962 13,216 1
Slide 28: Share of gain from associates
12. SHARE OF GAIN FROM ASSOCIATES
Slide 29: Cost, depreciations and impairment
3/31/2021 12/31/2020 Cost Depreciations and Impairment ‘Accumulated at Accumulated at Beginning End of the beginning at the end Net book Net book Account of the year Additions Retirements Transfers the period of the year Retirements For the period Rate % of the period vakie value Pipelines 101,252,0
Slide 30: Loans
14. LOANS Short-term and long-term loans as of March 31, 2021 and December 31, 2020 comprise the following:
Slide 31: Loans denominated in US dollars and activity
Loans are totally denominated in US dollars. The activity of the loans as of March 31, 2021 and 2020 is the following:
Slide 32: Maturities of current and non-current financial debt
The maturities of current and non-current financial debt, net of issuance costs, as of March 31, 2021 are as follows:
Slide 33: Deferred assets / (liabilities)
Deferred assets / (Liabilities) 03/31/2021 12/31/2020 Account receivables discounted vale 300 726 Provisions for legal daims and other provisions 235,167 252,038 Financial leases 762,921 822,484 Contract liabilities 702,125 722,405 Other credits 13,517 15,265 Loans (48,240) 22,527) Property, Plant a
Slide 34: Financial instruments by category and hierarchy
17. FINANCIAL INSTRUMENTS BY CATEGORY AND HIERARCHY 17.1 Financial instrument categories There have been no significant changes regarding the accounting policies for the categorization of financial instruments to the policies disclosed in the financial statements as of December 31, 2020. The categor
Slide 35: Financial assets and liabilities, March 31, 2021
March 31, 2021 Finandal assets Financial assets at fair value _at amortized cost Total CURRENT ASSETS Trade receivables = ZAG 190 TACT I90 ‘Other receivables: = 764,549) 764,549 Other financial assets at amortized cost = 19,721,127 19,721,127 Other financial assets at fair value through profit or lo
Slide 36: Fair value measurement hierarchy and estimates
1.2 Fair value measurement hierarchy and estimates According to IFRS 13, the fair value hierarchy introduces three levels of inputs based on the lowest level of input significant to the overall fair value. These levels are: · Level 1: includes financial assets and liabilities whose fair values are e
Slide 37: Assets and liabilities in foreign currency
CURRENT ASSETS Cash and cash equivalents Other financial assets at amortized cost or loss Trade receivables Other receivables Total current assets NON CURRENT ASSETS Other financial assets at fair value through profit or loss Total non- current assets TOTAL ASSETS CURRENT LIABILITIES Trade payables
Slide 38: Significant transactions with related parties
The detail of significant transactions with related parties for the three-month periods ended March 31, 2021 and 2020 is as follows: Three-month period ended March 31, 2021:
Slide 39: Related party revenues and costs
Revenues Costs Financial resuts Company Natural Gas ‘Transportation Production and commercialization of liquids Other services Gas purchase and others ‘Compensation for technical assistance Revenues for administrative services Interest expense Controlling shareholder: CIESA Es ‘Associate which exerc
Slide 40: Associates and joint agreement
23. ASSOCIATES AND JOINT AGREEMENT Associates with significant influence Link: Link was created in February 2001, with the purpose of the operation of a natural gas transportation system, which links TGS’s natural gas transportation system with the Cruz del Sur S.A. pipeline. The connection pipeline
Slide 41: Report on review of interim financial information
REPORT ON REVIEW OF INTERIM FINANCIAL INFORMATION To the Shareholders, President and Directors of Transportadora de Gas del Sur S.A. Legal address: Don Bosco 3672, 5 th Floor Ciudad Autónoma de Buenos Aires CUIT N° 30-65786206-8 I. Report on the Financial Statements Introduction 1. We have reviewed
Slide 42: Auditors' report conclusion
English translation of the original report issued in Spanish for publication in Argentina of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion. Conclusion 5. Based on our review, nothing has come to our attention that causes us to believe t
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