Transportadora De Gas Del Sur Sa Class B · BCBA:TGSU2
Transportadora De Gas Del Sur Sa Class B — Gas Transporter of the South — Q3 2023 Earnings Presentation
21 slides from Transportadora De Gas Del Sur Sa Class B's earnings presentation, Nov 6, 2023
Slide 1: Buenos Aires, Argentina, November 6, 2023
Buenos Aires, Argentina, November 6, 2023 During the 3Q2023, total comprehensive income amounted to Ps. 4,883 million, or Ps. 6.49 per share (Ps. 32.43 per ADS), compared to a total comprehensive income of Ps. 11,390 million, or Ps. 15.13 per share (Ps. 75.65 per ADS) in the third quarter ended on S
Slide 2: Operating profit for 3Q2023 totaled Ps. 17,285 million
Operating profit for 3Q2023 totaled Ps. 17,285 million, which was Ps. 407 million below 3Q2022. This variation was mainly due to lower revenues from the Natural Gas Transportation and Production and Commercialization of the Natural Gas Liquids (Liquids) segments amounting to Ps. 2,613 million and Ps
Slide 3: Breakdown of operating costs, administrative and commercialization expenses
The breakdown of operating costs, administrative and commercialization expenses , excluding depreciation, for 3Q2023 and 3Q2022 is shown in the table below:
Slide 4: Natural Gas Transportation
Natural Gas Transportation Operating profit of the Natural Gas Transportation segment was Ps. 592 million in 3Q2023 compared to a loss of Ps. 118 million in 3Q2022.
Slide 5: Natural gas transportation revenues share of total revenues
Natural gas transportation revenues accounted for approximately 23% and 27% of total revenues in 3Q2023 and 3Q2022, respectively. Revenues from this segment are derived mainly from firm natural gas transportation contracts which represent approximately 85% and 84% of the total revenues for this segm
Slide 6: Tariff segment and Liquids Production and Commercialization
This tariff segment, subject to ENARGAS regulation, received the last increase on April 29, 2023 at 95%. Prior to that, we received a tariff increase of 60%, which became effective March 1, 2022. The increase in operating income was mainly due to decreasing operating expenses. Revenues showed a decr
Slide 7: Liquids segment operating profit for 3Q2023
The operating profit of this business segment for 3Q2023 was Ps. 4,112 million below, reaching Ps. 8,280 million (compared to Ps. 12,392 million recorded in 3Q2022). This decrease was mainly due to lower revenues of Ps. 3,223 million and an increase in the cost of natural gas consumed of Ps. 1,042 m
Slide 8: Liquids volumes and revenues 3Q2023 vs 3Q2022
3Q2023 3Q2022 Variation (in tons) Local market Ethane 98,694 43,462 55,232 Beene ae oss aaa Butane 37,725 48,303 (10,578) ‘Subtotal 209,764 162,517 47,247 Foreian market Propane 13,815 42,652 (28,837) Butane 9,321 9,911 (590) Natural gasoline 26,185 24,001 2,184 Subtotal, 49,321 76,564 (27,243) Tota
Slide 9: Other Services and Telecommunications
Other Services and Telecommunications The Other Services business segment includes mainly services provided by tgs in Vaca Muerta, representing approximately 23% and 15% of our total revenues for 3Q2023 and 3Q2022, respectively. Transportadora de Gas del Sur S.A. 6 Edificio Madero Office – 355 Cecil
Slide 10: Operating profit rose by Ps. 2,994 million
Operating profit rose by Ps. 2,994 million mainly as a result of the Ps. 5,676 million increase in revenues in 3Q2023, which was partially offset by higher operating costs of Ps. 2,602 million. The increase in revenues was primarily explained by higher natural gas transportation and conditioning ser
Slide 11: Financial position analysis
Financial position analysis Net debt As of September 30, 2023, our negative net debt amounted to Ps. 9,625 million compared to the positive net debt of Ps. 24,727 million as of December 31, 2022. Our total net financial debt is denominated foreign currency, different from the Argentine peso, for bot
Slide 12: Liquidity and capital resources
Liquidity and capital resources The net variation in cash and cash equivalents for 3Q2023 and 3Q2022 was as follows:
Slide 13: Fund allocations at September 30, 2023 and December 31, 2022
As of September 30, 2023 and December 31, 2022, fund allocations were as follows:
Slide 14: Reconciliation of free cash flows
Below is a reconciliation of the free cash flows for the 3Q2023 and 3Q2022:
Slide 15: 3Q2023 vs. 3Q2022 cash flow
3Q2023 vs. 3Q2022 During 3Q2023, the cash flow provided by operating activities amounted to Ps. 21,613 million, while in 3Q2022 the cash flow used in operating activities totaled Ps. 20,872 million. This was mainly due to higher working capital requirements during 3Q2023 as opposed to the reduction
Slide 16: Cash flow used in investing activities
Cash flow used in investing activities amounted to Ps. 35,079 million in 3Q2023, compared to Ps. 17,306 in 3Q2022. This increase was mainly related to higher payments for the acquisition of non-cash investments and higher payments for the acquisition of PPE as part of the investments in Vaca Muerta.
Slide 17: Financial Information for 3Q and 9M periods
Transportadora de Gas del Sur S.A. Finandal Information for the three ("3Q") and nine-month ("9M") periods ended September 30, 2023 and 2022 (in millions of Argentine pesos, except for per share and er ADS information in pesos or where otherwée indicated) 302023 392022 9M2023 9m 2022 Natural Gas Tra
Slide 18: Edificio Madero Office –
Transportadora de Gas del Sur S.A. 11 Edificio Madero Office – 355 Cecilia Grierson St. 26 th floor (C1107CPG), Autonomous City of Buenos Aires, Argentina. https://www.tgs.com.ar/investors/Press-releases 3Q2023 EARNINGS RELEASE
Slide 19: Edificio Madero Office –
Transportadora de Gas del Sur S.A. 12 Edificio Madero Office – 355 Cecilia Grierson St. 26 th floor (C1107CPG), Autonomous City of Buenos Aires, Argentina. https://www.tgs.com.ar/investors/Press-releases 3Q2023 EARNINGS RELEASE
Slide 20: Edificio Madero Office –
Transportadora de Gas del Sur S.A. 13 Edificio Madero Office – 355 Cecilia Grierson St. 26 th floor (C1107CPG), Autonomous City of Buenos Aires, Argentina. https://www.tgs.com.ar/investors/Press-releases 3Q2023 EARNINGS RELEASE
Slide 21: Signatures
Transportadora de Gas del Sur S.A. 14 Edificio Madero Office – 355 Cecilia Grierson St. 26 th floor (C1107CPG), Autonomous City of Buenos Aires, Argentina. https://www.tgs.com.ar/investors/Press-releases SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant h
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