Transportadora De Gas Del Sur Sa Class B · BCBA:TGSU2
Transportadora De Gas Del Sur Sa Class B — Gas Transporter of the South — Q1 2023 Earnings Presentation
38 slides from Transportadora De Gas Del Sur Sa Class B's earnings presentation, May 22, 2023
Slide 1: Financial Statements as of March 31, 2023
FINANCIAL STATEMENTS AS OF MARCH 31, 2023
Slide 2: Financial Statements as of March 31, 2023 and 2022 - Index
TRANSPORTADORA DE GAS DEL SUR S.A. FINANCIAL STATEMENTS AS OF MARCH 31, 2023 AND 2022 INDEX 01. ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS FOR THE THREE-MONTH PERIOD ENDED MARCH 31, 2023 02. CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS Statements of comprehensive income Stateme
Slide 3: Activities of the Company in 3M2023 and 3M2022
Activities of the Company in 3M2023 and 3M2022 Revenues Revenues for 3M2023 decreased by Ps. 11,983 million compared to 3M2022, mainly as a consequence of the decrease in revenues from Production and Commercialization of Liquids business segment and Natural Gas Transportation business segment. Natur
Slide 4: Other Services
Other Services Revenues derived from the Other Services segment increased by Ps. 1,258 million in 3M2023 compared to the same period of 2022. This increase is due to higher revenues corresponding to transportation and conditioning services for natural gas in Vaca Muerta and compression and treatment
Slide 5: Operating cost breakdown
Natural gas purchase (RTP) 13,669 43% 46%: (1,604) (11%) Labor costs 4,980 15% 3,958 12% 1,022 26%. Taxes, fees and contributions 3,385) 10% 3,891 12% (506) (23%) Repair and maintenance 1,570 5% 1,104 3% 66 A2% Other fees and third parties services 2,039) 6% 2,449 7% (10) (7%) Depreciation 5,698 18%
Slide 6: Financial results and liquidity
This negative variation is mainly due to the lower gain on net monetary position recorded in 2023 as opposed to the gain in the 2022 period, and the higher negative foreign exchange loss, net. These effects were partially offset by the gain generated by financial assets measured at fair value and th
Slide 7: Net change in cash and cash equivalents
During 3M2023 the net change in cash and cash equivalents was positive by Ps. 11,833 million. Cash flow from operations amounted to Ps. 25,287 million. This cash flow was Ps. 4,129 million lower than in 3M2022 as a result of the drop in operating income and the higher payment of income tax. These ef
Slide 8: Consolidated Comprehensive Income Summary
4. Consolidated Comprehensive Income Summary Summary of the consolidated comprehensive income information for the three-month periods ended March 31, 2023, 2022, 2021, 2020 and 2019:
Slide 9: Consolidated Cash Flow Summary
5. Consolidated Cash Flow Summary Summary of the consolidated cash flow information for the three-month periods ended March 31, 2023, 2022, 2021, 2020 and 2019:
Slide 10: Cash flow summary (in thousands of Argentine Pesos)
(in thousands of Argentine Pesos) Gash flows provided by operating adivities 25,287,076 29,415,697 28,529,756 25,508,211 22,716,515 Cash flows used in investing activities 13,519,535) (24,883,485) (6,268,845) (67,794,901) (22,155,345) Cash flows provided by / (used in) financing activities 65,534 2,
Slide 11: Operating statistics, three-month periods ended March 31
‘Three-month period ended march 31, 2023 2022 2021 2020 2019 Gas Transportation Average firm contracted cepadty (millions of m3/d) 83.1 82.5 82.4 82.4 82.4 Average daily deliveries (milions of m3/a) 54.3 621 58.8 62.0 619 NGL production and commercalization 2 Production Ethane (in tons] 102448 34,94
Slide 12: Luis Fallo, Chairman of the Board of Directors
Luis Fallo Chairman of the Board of Directors
Slide 13: Luis Fallo, Chairman of the Board of Directors
Luis Fallo Chairman of the Board of Directors
Slide 14: Luis Fallo, Chairman of the Board of Directors
Luis Fallo Chairman of the Board of Directors
Slide 15: Luis Fallo, Chairman of the Board of Directors
Luis Fallo Chairman of the Board of Directors
Slide 16: Economic context
Economic context The Company operates in a complex economic context whose main variables have recently had strong volatility as a result of political and economic events both domestically and internationally. At the local level, the measures tending to restrict access to the Mercado Único y Libre de
Slide 17: Segment information, three months ended March 31, 2023
‘Three-month period ended March 31, 2023 Production and NaturalGas Commercialization Other Transportation of Liquids Services __Telecommunications Eliminations Total Revenues 9,358,424 30,817,976 6,006,558 253,828, = “46, 436,786 Intercompany revenues from sales 734,382 - = = (234,382) E Gost of sal
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, 2023 and 2022 is as follows:
Slide 19: Revenues by market, three months ended March 31, 2023
Three-month period ended March 31, 2023. Production and Natural Gas Commercialization of Transportation Liquids Other Services _Telecommunications Total Primary geographical market External Market = 16,367,732 = = 16,367,732 Local Market 9,358,408 14,450,244 6,006,558 253,828 30,069,054 Total 3,358,
Slide 20: Revenues by market, three months ended March 31, 2022
Three-month period ended March 31, 2022 Production and Natural Gas Commercialization of Transportation Liquids Other Services _Telecommunications Total Primary geographical market External market = 25,062,948 = = 25,082, 988 Local market 12,611,884 15,742,845 4,747,841 254,653, 33,357,223, Total 12,
Slide 21: Other receivables, current and non-current
03/31/2023 12/31/2022 Current Non Current Gurrent Non Gurrent "Turnover tax balance: 283,808, = 268,540 z VAT credit balance 1,426,214 = 1,820,507 : Income tax credit balance = : 117,699 = (Other tax receivables 15,262 5 130,557 a Prepaid expenses: 3,281,873, 5 7,855,714 2 ‘Advanoss to suppliers 9,2
Slide 22: Movement of the allowance for doubtful accounts
The movement of the allowance for doubtful accounts is as follows:
Slide 23: Allowance for doubtful accounts
For doubtful accounts Balances as of 12/31/2021 314,242 Inflation adjustment restatement (152,521) Additions E Applications z Decreases = Balances as of 12/31/2022 161321. Inflation adjustment restatement (28,800) Additions = Applications = Reversals Balances as of 03/31/2023 132,521
Slide 24: Operating expenses
2023 2022 Operating expenses Regulated Non-regulated Administrative Selling Financial Accounts Total activities activities expenses expenses expenses Total Selaries, wages and other compensations 4,214,625 1,522,918 4,492,208 1,010,058 199,441 - 3,217,893 Social security taxes 784,75 234,779 269,531
Slide 25: Other operating results, net
l) Other operating results, net
Slide 26: 11. Joint Arrangements
11. JOINT ARRANGEMENTS The breakdown of the amounts included in the statements of financial position related to the Company's participation in the UT as of March 31, 2023 and December 31, 2022, and its results for the three-month periods as of March 31, 2023 and 2022 is the following:
Slide 27: 12. Share of Profit from Associates
12. SHARE OF PROFIT FROM ASSOCIATES
Slide 28: Property, plant and equipment schedule
oa/fsi fama Rise? cost ‘Accumulated at ‘Accumulated Beginning End of the beginning at the end Net book Net book ‘Account ofthe year Additions ements Transfers the year ofthe year Retirements Fortheyear ———Rate % of the year value value Pipelines 327,981,583 : E 254,007 328,245,590 184,307,271 = 1,90
Slide 29: Loans denominated in US dollars
Loans are totally denominated in US dollars. The activity of the loans as of March 31, 2023 and 2022 is the following:
Slide 30: New financial lease, January 2023
In January 2023, the Company entered into a new financial lease for Ps. 703,473. It is denominated in US dollars, payable in fixed monthly installments until December 2027.
Slide 31: Deferred Liabilities
Deferred Liabilities 03/31/2023 __12/31/2022 nancial assets at fair value through profit or loss (523.03) 23.518 fr ‘or lal claims and othe Lado Financial lessee 801.588 3758,031 Contractliabiives 3331444 3.355.456 ‘Other credits (119.380) (15.338) Loans: 43,160 (170.411) rosary, Plant and Eauinmant
Slide 32: 17. 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, 2022. The categor
Slide 33: Financial assets and liabilities, March 31, 2023
March 31, 2023, Financial assets Financial assets measured at at fair value __amortised cost Total CURRENT ASSETS Trade receivables : 7,558,572 17,458,572 ‘Other receivables = 2,959,164 2,959,144 Finandal assets measured at amortsed cos = 26,193,288 26,193, 288 Finandal assets at fair value through
Slide 34: Financial assets and liabilities, December 31, 2022
December 31, 2022 Financial assets Financial assets measured at at fairvalue _amortised cost Total CURRENT ASSETS Trade receivables 5 20,620, 603 20,620,605 ‘Other receivables z 5,307,209 5,307,309 Finandal assets measured at amortsed cos = 1751 L75L Finandal assets at fair value through profit or l
Slide 35: Foreign currency assets and liabilities
03/31/2023 12/31/2022 Foreign currency ‘Amount Foreign currency Amount and amount Exchange in local and amount in local (in thousands) rate currency (in thousands) currency CURRENT ASSETS: sh and cash equivalents uss 13,586 208.610” 2,830,003, uss 1,613 347,468, Other financial assets at amortized c
Slide 36: Related party transactions and CT Barragán notes
As of March 31, 2023, tgs holds Ps. 754,650 corresponding to dollar-linked notes issued by CT Barragán S.A. that accrue an annual rate of 4% above the exchange rate established in BCRA Communication "A" 3500 and that amortize the total principal on June 4, 2023. The book value of the notes is disclo
Slide 37: Related party transactions, three months ended March 31, 2022
Three-month period ended March 31, 2022 :
Slide 38: Related party revenues, costs and financial results
Revenues Costs Financial results Production and Income from Compensation Interest gain 7 Natural Gas commerdialization of Gas purchase administrative _for technical Interest Gain / (loss) on Company ‘Transportation liquids Other services and others services and others assistance expense fair value C
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