Transportadora De Gas Del Sur Sa Class B · BCBA:TGSU2
Transportadora De Gas Del Sur Sa Class B — Gas Transporter of the South — H1 2022 Earnings Presentation
41 slides from Transportadora De Gas Del Sur Sa Class B's earnings presentation, Aug 16, 2022
Slide 1: Activities of the Company in 1S2022 and 1S2021
Activities of the Company in 1S2022 and 1S2021 Revenues Revenues for 1S2022 increased by Ps. 1,927 million compared to 1S2021, mainly as a consequence of the increase in revenues from Production and Commercialization of Liquids business segment, an effect partially offset by the decrease in revenues
Slide 2: Other Services
Other Services Revenues derived from the Other Services segment increased by Ps. 1,042 million in 1S2022 compared to the same period of 2021. This increase is due to higher revenues corresponding to transportation and conditioning services for natural gas in Vaca Muerta and compression and treatment
Slide 3: Other operating results
Other operating results The other operating results recorded a negative variation of Ps. 302 million mainly as a result of the recognition of the collections received for insurance recovery during 1S2021. Net financial results In 1S2022, the financial results showed a positive variation of Ps. 578 m
Slide 4: Liquidity
This positive variation is mainly due to the lower loss generated by the operations carried out with financial assets measured at fair value. These effects were partially offset by the lower gain on net monetary position, and the losses recognized for the repurchase of notes and for operations with
Slide 5: Net change in cash and 2Q2022 vs 2Q2021
During 1S2022 the net change in cash and cash equivalents was negative by Ps. 47 million while during 1S2021 the net change in funds was Ps. 4,608 million. This variation was due to lower cash flows used in investing activities for Ps. 10,601 million (lower placements of financial assets not conside
Slide 6: 2Q2022 comprehensive income and revenues
During 2Q2022, the Company obtained comprehensive income of Ps. 5,311 million, compared to comprehensive income of Ps. 5,570 million obtained in the same period of 2021. Total revenues for 2Q2022 decreased Ps. 1,289 million compared to the same period of the previous year. Revenues from the Natural
Slide 7: Other Services and cost of sales
The Other Services segment reported an increase of Ps. 867 million, mainly explained by higher natural gas transportation and conditioning services in Vaca Muerta. This effect was partially offset by the negative variation of the exchange rate in constant currency. Cost of sales and administrative a
Slide 8: Financial results and Consolidated Financial Position Summary
In 2Q2022, financial results suffered a negative variation of Ps. 1,644 million, compared to those registered in the 2021 period. This variation is mainly due to the lower gain on net monetary position and the higher loss due to exchange rate (greater devaluation in 2Q2022). These effects were parti
Slide 9: 5. Consolidated Comprehensive Income Summary
5. Consolidated Comprehensive Income Summary Summary of the consolidated comprehensive income information for the six-month periods ended June 30, 2022, 2021, 2020, 2019 and 2018:
Slide 10: 6. Consolidated Cash Flow Summary
6. Consolidated Cash Flow Summary Summary of the consolidated cash flow information for the six-month periods ended June 30, 2022, 2021, 2020, 2019 and 2018:
Slide 11: 7. Statistical Data (Physical units)
7. Statistical Data (Physical units)
Slide 12: Gas Transportation
Gas Transportation 2022 Three-month period ended June 30, 2021 2020 2019 2018 2022 2018 ‘Average firm contracted capacty (millions of m3/d) 83 8 8 aL 8 a Average daily deliveries (millions of ma/a) 3 i cs ist of 68 B B NGL production and commercialization 2 Production Ethane (in tons) 175,646 170,16
Slide 13: Condensed Interim Consolidated Statements of Financial Position
Horacio Turri Chairman of the Board of Directors English translation of the original prepared in Spanish for publication in Argentina TRANSPORTADORA DE GAS DEL SUR S.A. CONDENSED INTERIM CONSOLIDATED STATEMENTS OF FINANCIAL POSITION AS OF JUNE 30, 2022 AND DECEMBER 31, 2021 (Stated in thousands of p
Slide 14: Condensed Interim Consolidated Statement of Changes in Equity
Horacio Turri Chairman of the Board of Directors English translation of the original prepared in Spanish for publication in Argentina TRANSPORTADORA DE GAS DEL SUR S.A. CONDENSED INTERIM CONSOLIDATED STATEMENT OF CHANGES IN EQUITY FOR THE SIX-MONTH PERIODS ENDED JUNE 30, 2022 AND 2021 (Stated in tho
Slide 15: Condensed Interim Consolidated Statements of Cash Flows
Horacio Turri Chairman of the Board of Directors English translation of the original prepared in Spanish for publication in Argentina TRANSPORTADORA DE GAS DEL SUR S.A. CONDENSED INTERIM CONSOLIDATED STATEMENTS OF CASH FLOWS FOR THE SIX-MONTH PERIODS ENDED JUNE 30, 2022 AND 2021 (Stated in thousands
Slide 16: Notes: 1. General Information
Horacio Turri Chairman of the Board of Directors English translation of the original prepared in Spanish for publication in Argentina TRANSPORTADORA DE GAS DEL SUR S.A. NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS AS OF JUNE 30, 2022 AND COMPARATIVE INFORMATION (Stated in thousan
Slide 17: Subsidiaries and economic context
Detailed data reflecting subsidiary control as of June 30, 2022, is as follows: Company Incorporation country Closing date Main activity Telcosur Argentina December 31 Telecommunication Services CTG TGSLatam Argentina Bolivia December 31 December 31 Electrical power related services Hydrocarbons and
Slide 18: Notes to the Condensed Interim Consolidated Financial Statements
English translation of the original prepared in Spanish for publication in Argentina TRANSPORTADORA DE GAS DEL SUR S.A. NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS AS OF JUNE 30, 2022 AND COMPARATIVE INFORMATION (Stated in thousands of pesos as described in Note 3, unless otherw
Slide 19: Breakdown of revenues by market and opportunity
The breakdown of revenues by market and opportunity for the six-month periods ended June 30, 2022 and 2021 is as follows:
Slide 20: Six-month period ended June 30, 2022 revenues
Sbcmonth period ended June 30, 2022 Production and Natural Gas Commercialization of ‘Transportation Liquids. Other Services _Telecommunications Total Primary geographical market External Market z 18,187,086 = = 18,187,086 Local Market 15,489,271 21,471,806 6,204,636 297,350 “43,463,103 Total 15,489,
Slide 21: 9. Summary of Significant Statement Items
9. SUMMARY OF SIGNIFICANT STATEMENT OF FINANCIAL POSITION AND STATEMENT OF COMPREHENSIVE INCOME ITEMS a) Other receivables
Slide 22: b) Trade receivables
English translation of the original prepared in Spanish for publication in Argentina TRANSPORTADORA DE GAS DEL SUR S.A. NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS AS OF JUNE 30, 2022 AND COMPARATIVE INFORMATION (Stated in thousands of pesos as described in Note 3, unless otherw
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 12/31/2020 272,615. Inflation adjustment restatement (54,930) Additions = Applications: = Decreases 3 Balances as of 06/30/2021 2i7,685. Inflation adjustment restatement (37,075) Additions = Applications z Reversals = Balances as of 12/31/2021 180,610 Inflation a
Slide 25: k) Net financial results
English translation of the original prepared in Spanish for publication in Argentina TRANSPORTADORA DE GAS DEL SUR S.A. NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS AS OF JUNE 30, 2022 AND COMPARATIVE INFORMATION (Stated in thousands of pesos as described in Note 3, unless otherw
Slide 26: l) Other operating results, net
l) Other operating results, net
Slide 27: 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 June 30, 2022 and December 31, 2021, and its results for the six-month periods as of June 30, 2022 and 2021 is the following:
Slide 28: 12. Share of Gain from Associates
English translation of the original prepared in Spanish for publication in Argentina TRANSPORTADORA DE GAS DEL SUR S.A. NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS AS OF JUNE 30, 2022 AND COMPARATIVE INFORMATION (Stated in thousands of pesos as described in Note 3, unless otherw
Slide 29: 14. Loans
English translation of the original prepared in Spanish for publication in Argentina TRANSPORTADORA DE GAS DEL SUR S.A. NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS AS OF JUNE 30, 2022 AND COMPARATIVE INFORMATION (Stated in thousands of pesos as described in Note 3, unless otherw
Slide 30: Loans denominated in US dollars
Loans are totally denominated in US dollars. During the six-month periods ended June 30, 2022 and 2021, through various transactions, the Company acquired 2018 Notes for a nominal value of US$ 7,262,000 for which it paid Ps. 1,715,927. The result generated by such transaction, which amounted to Ps.
Slide 31: Maturities of financial debt
The maturities of current and non-current financial debt, net of issuance costs, as of June 30, 2022 are as follows:
Slide 32: Deferred assets / (Liabilities)
Deferred assets / (Liabilities) 06/30/2022 __12/31/2021 ‘Cuher liabili (36.708) (376.522) ‘Account receivables discounted value ‘310 1.243 Provisions forleaal claims and other provisions 35,588 705.238 Financial leases T141.406 7.404795 Contract labilties is7i5e4 1.923.810 Other crecits (Ziess) (3.6
Slide 33: 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, 2021. The categor
Slide 34: June 30, 2022
June 30, 2022 Financalassets Financial assets at fair value _ at amortized cost Total ‘CURRENT ASSETS Trade receivables = 13,595,625 13,395,625 Other receivables E 300,834 300,834 Other financial assets at amortized oot E 770 770 Other financial assets at fair value through profit or loss 21,188,141
Slide 35: 17.2 Fair value measurement hierarchy and estimates
English translation of the original prepared in Spanish for publication in Argentina TRANSPORTADORA DE GAS DEL SUR S.A. NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS AS OF JUNE 30, 2022 AND COMPARATIVE INFORMATION (Stated in thousands of pesos as described in Note 3, unless otherw
Slide 36: 19. Regulatory Framework; 20. Common Stock and Dividends
English translation of the original prepared in Spanish for publication in Argentina TRANSPORTADORA DE GAS DEL SUR S.A. NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS AS OF JUNE 30, 2022 AND COMPARATIVE INFORMATION (Stated in thousands of pesos as described in Note 3, unless otherw
Slide 37: Related party transactions
Additionally, during the six-month period ended June 30, 2022, the Company received from SACDE Sociedad Argentina de Construcción y Desarrollo Estratégico S.A., construction engineering services for Ps. 420,259 which are activated within the balance of advances to suppliers. As of June 30, 2022, tgs
Slide 38: Six-month period ended June 30, 2021
English translation of the original prepared in Spanish for publication in Argentina TRANSPORTADORA DE GAS DEL SUR S.A. NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS AS OF JUNE 30, 2022 AND COMPARATIVE INFORMATION (Stated in thousands of pesos as described in Note 3, unless otherw
Slide 39: 23. 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
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