Transportadora De Gas Del Sur Sa Class B · BCBA:TGSU2
Transportadora De Gas Del Sur Sa Class B — Gas Transporter of the South — Q1 2025 Earnings Presentation
23 slides from Transportadora De Gas Del Sur Sa Class B's earnings presentation, May 9, 2025
Slide 1: Slide 1
Slide 2: tgs announces results for the first quarter (1Q) ended March 31, 2025
tgs announces results for the first quarter (“1Q”) ended on March 31, 2025 (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, through more
Slide 3: Buenos Aires, Argentina, May 8, 2025
Buenos Aires, Argentina, May 8, 2025 During the 1Q2025, total comprehensive income amounted to Ps. 107,351 million, or a Ps. 142.61 income per share (Ps. 713.05 per ADS), compared to a total comprehensive income of Ps. 87,215 million, or Ps. 115.86 per share (Ps. 579.30 per ADS) in the first quarter
Slide 4: Operating profit for 1Q2025 totaled Ps. 141,089 million
Operating profit for 1Q2025 totaled Ps. 141,089 million, Ps. 39,277 million above 1Q2024. This variation was mainly due to higher revenues in the Natural Gas Transportation segment amounting to Ps. 119,392 million. The net cost of sales, administrative, and selling expenses recorded a decrease of Ps
Slide 5: Breakdown of net cost of sales, administrative and selling expenses
The breakdown of net cost of sales , administrative and selling expenses , excluding depreciation, for 1Q2025 and 1Q2024 is shown in the table below:
Slide 6: Cost breakdown table
Natura gas purchase (RTP) 31,628 19% 66,684 34% (35,055) (53%) Labor costs: 31,514 19% 31,752 16% (237) Ce) Taxes, fees and contributions 19,751, 12% 21,816 11% (2,065) (9%) Repair and maintenance, 18,799) 11% 13,977, Te 4822 34% Other fees and third parties services: 18,506 11% 19,795 10% (288) (7%
Slide 7: Climate Event – Cerri Complex
Climate Event – Cerri Complex On March 7, 2025, unprecedented heavy rainfall—the most extreme in the last 100 years—was recorded in the city of Bahía Blanca and adjacent areas, causing flooding across all urban and surrounding regions (the "Event"). The Event led to the overflow of the Saladillo Gar
Slide 8: Natural gas transportation revenues
Natural gas transportation revenues accounted for approximately 47% and 11% of total revenues in 1Q2025 and 1Q2024, respectively. Revenues from this segment are derived mainly from firm natural gas transportation contracts, which represented approximately 80% and 75% of the total revenues for this s
Slide 9: Tariff increases and operating results in gas transportation
During the first quarter of 2025, this business segment received monthly tariff increases effective January 1, February 1, and March 6, 2025, of 2.5%, 1.5%, and 1.7%, respectively. The positive variation in operating results was mainly due to an increase in revenues amounting to Ps. 119,392 million,
Slide 10: Liquids Production and Commercialization operating profit
The operating profit of this business segment in 1Q2025 was Ps. 55,444 million lower than that recorded in 1Q2024, reaching Ps. 45,253 million (compared to Ps. 100,696 million in 1Q2024). This decrease was mainly due to a decline in revenues of Ps. 88,753 million and the recognition of a loss in Oth
Slide 11: Liquids volumes and revenues by market
102025 192024 Variation (in tons) Local market Ethane 66,301 70,460 (4,159) Propane 30,836 38,227 (7,391) Butane 20.814 34,755 (43,941) Subtotal 17,951 143,442 (25,491) Foreign market Propane 40,543 73,916 (33,373) Butane 30,459 39,175 (8,716) Natura gasoline 21,523 33,913 (42,390) Subtotal 92,525.
Slide 12: Midstream and Telecommunications
Midstream and Telecommunications Midstream and Telecommunications business segment includes mainly services provided by tgs at Vaca Muerta, representing approximately 18% and 22% of our total revenues for 1Q2025 and 1Q2024, respectively.
Slide 13: Midstream operating profit variation
The operating profit decreased by Ps. 10,986 million, mainly due to lower sales revenues of Ps. 5,806 million in 1Q2025 compared to 1Q2024, along higher operating costs amounting to Ps. 4,903 million.
Slide 14: Financial position analysis
Financial position analysis Net debt As of March 31, 2025, our net financial debt amounted to Ps. 365,180 million, while as of December 31, 2024, it totaled Ps. 234,975 million. On both dates, the entirety of our financial debt was denominated in foreign currency. During 1Q2025, we made net repaymen
Slide 15: Liquidity and capital resources
Liquidity and capital resources The net variation in cash and cash equivalents for 1Q2025 and 1Q2024 is broken down as
Slide 16: Funds allocation as of March 31, 2025
As of March 31, 2025 and December 31, 2024, the funds allocation was as follows:
Slide 17: Free cash flow reconciliation
The table below shows a reconciliation of the free cash flows for the 1Q2025 and 1Q2024 periods:
Slide 18: 1Q2025 vs. 1Q2024 cash flows
1Q2025 vs. 1Q2024 During 1Q2025, cash flows provided by operating activities amounted to Ps. 149,329 million, compared to Ps. 75,148 million in 1Q2024. This positive effect was mainly due to the positive variation of working capital and in the operating profit. These effects were partially offset by
Slide 19: Financial Information for the three month periods ended March 31, 2025 and 2024
Transportadora de Gas del Sur S.A. ancial Information for the three month periods ("1Q") ended March 31, 2025 and 2024 (In millions of Argentine pesos, except for per share and per ADS information in pesos or where otherwise indicated) 1.92025 192024 Natural Gas Trangportation 152,035 32,643 Liquids
Slide 20: Financial results for the three-month periods
Financial results for the three three-month periods ended March 31, 2025 and 2024 (in million of Argentine Pesos) 192025 192024 Financial income Interest 6.587 26,248 Foreign exchange gain 16,665 31,592 Subtotal 23,252 57,840 Financial expenses Interest (4566) 7,167) Foreign exchange less, (23,00) (
Slide 21: Business Segment information
Business Segment information Natural Gas Midstream Transportation Telecommunications 192025 (In million of Argentine Pesos) Depreciation (25,426) (2,901) (11,922) = (40,249) ‘Operating profit / (loss) 71,776 45,253 24,109 (48) 141,089 Depreciation (22,862) (2,688) (9,884) = (35,434) Operating (loss)
Slide 22: Consolidated Statement of Financial Position
Consolidated Statement of Finandal Position as of March 31, 2025 and December 31, 2024 (in milion of Argentine pasos) 3/31/2025 Pesets Non Currant assets Property, plant and equipment 2583579 2.589.240 Investments in associates 1339 1.20 Deferred income tax assets = 5 ther receivebles 26 25 Totalnon
Slide 23: Consolidated Statement of Cash Flows
Consolidated Statement of Cash Flows for the three-month periods ended March 31, 2025 and 2024 (in elon of Argertine Pesos) 2025 2024 Cash flows provided by operating activities, ‘Total comprehensive income for the period 107,351 87,215 Reconcifation of net income to cash flows provided by operating
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