Central Puerto Sa · BCBA:CEPU
Central Puerto Sa — Q1 2025 Earnings Presentation
17 slides from Central Puerto Sa's earnings presentation, May 12, 2025
Slide 1: 1Q25 Earnings Webcast
1Q25 Earnings Webcast May 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: 1Q25 Earnings Webcast - Agenda
1Q25 Earnings Webcast - Agenda ▪ 1Q25 Key Figures ▪ Regulatory Update and News ▪ Argentine Market Overview ▪ Central Puerto’s consolidated main operating metrics ▪ Financial Results ▪ Questions & Answers 3
Slide 4: 1Q25 Key Figures
1Q25 Key Figures(1)(2) Installed Energy Revenues Adj.EBITDA(4) Net Income Net Debt Capacity Generation US$ MM US$ MM US$ MM US$ MM MW GWh 1Q25 1Q25 1Q25 1Q25 1Q25 6,703 5,731 196 90 80 132 +4% Y/Y +31%Y/Y +8% Y/Y +150% Y/Y ~ Dec-24 (1) The results presented for the period 1Q25 are positively or nega
Slide 5: Regulatory Updates and News
Regulatory Updates and News Spot market (Energía Base) Energy and capacity prices adjustments Resolution Date % Increase SE N°603/2024 Jan-25 4% SE N°27/2025 Feb-25 4% SE N°113/2025 Mar-25 1.5% Cumulative increase during April and May ➔ 3.5% Status on Brigadier Lopez Combined Cycle project Works con
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. Corporate reorganizations - January 1st ➔Effective merger of Vientos La Genoveva II S.A (VLGII) with CP Manque S.A.U., CP Los Olivos and CPR Energy Solutions S.A.U., being VLGII the absorbing company. - March 31st ➔ the Board of Directors approved a reorganization
Slide 8: Argentine market overview
Argentine market overview (1) Installed Capacity Energy Generation (MW) (TWh) (319) MW (0.5) TWh (1%) (1%) 43,873 43,554 39.3 38.8 13% 14% 16% 16% 4% 4% 8% 7% 25% 22% 23% 17% 58% 58% 54% 60% 1Q24 1Q25 1Q24 1Q25 Thermal Hydro Nuclear Renewable Thermal Hydro Nuclear Renewable • Renewable generation wa
Slide 9: Argentine market overview
Argentine market overview (1) Local Energy Demand (TWh) +0.3 TWh +1% (0.0) 0.2 0.1 13.6 13.6 14.0 13.1 12.9 12.9 11.9 12.0 11.7 37.9 38.2 1Q24 Residential Commercial Industrial 1Q25 • Milder temperatures, on average, during two- thirds of the quarter prompted an almost flat residential consumption a
Slide 10: Central Puerto's Consolidated operating metrics
Central Puerto’s Consolidated operating metrics(1) Energy Generation Thermal Availability (%) (GWh) 95% Steam & gas turbines 211 GWh 4% 72% 68% 67% 68% 63% 60% 62% 61% 58% 51% 48% 215 15 5,731 5,520 (14) (4) Puerto Lujan de Cuyo Brigadier Central CEPU avg. Market avg. 1Q24 1Q25 1Q24 1Q25 Nuevo/Nuevo
Slide 11: Revenues breakdown
1Q25 Revenues breakdown (1) Revenues (1) (US$ mm) Spot Sales (Legacy) +46 ▲ Cash effect on the gap between currency devaluation and +31% spot remuneration increases. ▲ Higher thermal generation, mainly in some turbines located in Luján de Cuyo, Puerto and Costanera sites. ▲ Non-cash effect on the ga
Slide 12: Reconciliation of Adj. EBITDA
1Q25 Reconciliation of Adj. EBITDA (1) Adj. EBITDA (1) Revenues (US$ mm) ▲ Higher spot sales and sales under contracts. ▲ Cash effect on the gap between currency devaluation and +6 remuneration increases. +8% ▲ Non-cash effect on the gap between currency devaluation and inflation. 46 Cost of Sales ▼
Slide 13: Reconciliation of Net Income
1Q25 Reconciliation of Net Income(1) Net Income (1) (US$ mm) +48 Non-Cash Effects + FONI FX Differences and Interest +150% ▼ Lower FX differences due to lower FX variation. ▼ Lower variation in biological assets. 56 80 ▼ Results driven by the change in purchasing power of the (5) currency. ▲ Gain on
Slide 14: 3M25 Consolidated Cashflow
3M25 Consolidated Cashflow (1) Cashflow Bridge (1) (US$ mm) Operating Cash Flow +2 ▲ Income before income tax of the period. +57% ▲ Interest collect from clients. ▲ Insurance recovery. ▼ Tax payments. 44 Investing Activities ▼ CAPEX San Carlos and Brigadier Lopez projects. ▼ Acquisition of financial
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.) Net Debt/ Adj. 50 EBITDA(3) 18 47 56 0.5x 46 23 17 18 18 29 12 12 12 12 2025 2026 2027 2028 2029 (+)2030 Corporate Loan Project Finance Corporate Bond (1) As of March 31th, 2025. (2) Considers only princip
Slide 16: Questions & Answers
1Q25 Earnings Webcast May 12th, 2025 Questions & Answers
Slide 17: 1Q25 Earnings Webcast
1Q25 Earnings Webcast May 12th, 2025