Transportadora De Gas Del Sur Sa Class B · BCBA:TGSU2
Transportadora De Gas Del Sur Sa Class B — Gas Transporter of the South — FINANCIAL SATEMENTS AS OF 31, MARCH 2024
34 slides from Transportadora De Gas Del Sur Sa Class B's investor presentation, May 13, 2024
Slide 1: Financial Statements as of March 31, 2024
FINANCIAL STATEMENTS AS OF MARCH 31, 2024 tose
Slide 2: Memoria 2023
Memoria 2023
Slide 3: Index
TRANSPORTADORA DE GAS DEL SUR S.A. FINANCIAL STATEMENTS AS OF MARCH 31, 2024 AND 2023 INDEX 01. ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS FOR THE THREE-MONTH PERIOD ENDED MARCH 31, 2024 02. CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS Statements of comprehensive income Stateme
Slide 4: Activities of the Company in 3M2024 and 3M2023
Activities of the Company in 3M2024 and 3M2023 Revenues Revenues for 3M2024 increased by Ps. 10,739 million compared to 3M2023, mainly due to the increase in revenues from Midstream and Production and Commercialization of Liquids business segments. Natural Gas Transportation During 3M2024 revenues f
Slide 5: Midstream
Midstream Revenues derived from the Midstream segment increased by Ps. 17,488 million in 3M2024 compared to the same period of 2023. This increase is due to higher revenues corresponding to: (i) natural gas transportation and conditioning services in Vaca Muerta, (ii) the positive variation in the r
Slide 6: Net financial results
Net financial results In 3M2024, the financial results experienced a positive effect of Ps. 34,247 million with respect to same period of 2023. The breakdown of net financial results is as follows:
Slide 7: Liquidity
This positive variation is mainly due to the lower negative foreign exchange loss, net, and the higher positive financial results recorded by financial assets due to the increase in fund placements. These effects were partially offset by the higher loss on net monetary position. 2. Liquidity The Com
Slide 8: Net variation in cash and cash equivalents
During 3M2024 the net variation in cash and cash equivalents was positive by Ps. 32,550 million. Cash flow from operations amounted to Ps. 48,194 million. This cash flow was Ps. 49,887 million lower than in 3M2023 due to lower working capital and higher interest payments. These effects were partiall
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, 2024, 2023, 2022, 2021 and 2020:
Slide 10: Cash flow summary (in thousands of Argentine Pesos)
(in thousands of Argentine Pesos) Gash flows provided by operating adivities 48,153,584 98,080,747 114,094,392 110,658,101 91,451,376 Cash flows used in investing activities 10,724,326) (52,438,099) (96,515,343) (140,675,634) (146,594,733) Cash flows (used in) / provided by finandal adivities (4,91
Slide 11: Operating statistics accumulated as of March 31
Accumulated as of March 31, 2024 2023 2022 2024 2020 Gas Transportation Average firm contracted cepadty (millions of m3/d) 83.1 83.1 82.5 82.4 82.4 Average daily deliveries (milions of maa) 58.5 54.3 621 58.8 62.0 NGL production and commerdalization 2 Production Ethane (in tons) 70.460 102.48 3,49 7
Slide 12: Horacio Turri, Chairman of the Board of Directors
Horacio Turri Chairman of the Board of Directors
Slide 13: Horacio Turri, Chairman of the Board of Directors
Horacio Turri Chairman of the Board of Directors
Slide 14: Horacio Turri, Chairman of the Board of Directors
Horacio Turri Chairman of the Board of Directors
Slide 15: Horacio Turri, Chairman of the Board of Directors
Horacio Turri Chairman of the Board of Directors
Slide 16: Three-month period ended March 31, 2024 by segment
‘Three-month period ended March 31, 2024 Production and NaturalGas Commercialization Transportation of Liquids Midstream __Telecommunications Eliminations Total Revenues 20,934,384 128,149 442 40,603,173 1,166,339 = 190,853,338) Intercompany revenues from sales 580,942 : = E (580,342) E Gost of sale
Slide 17: Breakdown of revenues by market and opportunity
The breakdown of revenues from sales of goods and services by market and opportunity for the three-month periods ended March 31, 2024 and 2023 is as follows:
Slide 18: Revenues by market and timing of recognition
Three-month period ended March 31, 2024 Production and Natural Gas Commercialization of Transportation Liquids Midstream Telecommunications Total Primary geographical market External Market = 77,202,902 = = 77,202,502 Local Market 20,934,384 “49,642,921 2,603,473 166,338 112,346,817 Total 20,934,384
Slide 19: Summary of significant financial position and income items
9. SUMMARY OF SIGNIFICANT STATEMENT OF FINANCIAL POSITION AND STATEMENT OF COMPREHENSIVE INCOME ITEMS a) Other receivables
Slide 20: Other receivables
03/31/2024 12/31/2023 Current Non Current Gurrent___Non Gurrent “Turnover tax balance 6,605 154,250 E \VAT credit balance. 7.762.753 = 254,304 E Income tax credit balance z : 11,328,816 E (Other tax receivables 163,545 : 394,652 : Prepaid services and expenses 500,051 20,006 7,205,549 32,608 ‘Advano
Slide 21: Movement of the allowance for doubtful accounts
The movement of the allowance for doubtful accounts is as follows:
Slide 22: Allowance for doubtful accounts balances
Balances as of 12/31/2022 625,714 Inflation adjustment restatement (G11, 706) Additions: = Applications: = Decreases = Balances as of 03/31/2023 314,008 Inflation adjustment restatement (313,077) Additions 258,688 Applications (2,070) Reversals E Balances as of 12/31/2023 457,549, Inflation adjustme
Slide 23: Operating expenses
2024 2023 Operating expenses Regulated Non-regulated Administrative Selling Financial Accounts Total activities activities expenses expenses expenses Total Selaries, wages and other compensations 17,591,040 7,680,354 5,726,371 3,200,630 973,685 - 16,347,227 Social security taxes 2,771,891 4,178,173
Slide 24: Other operating results, net
l) Other operating results, net
Slide 25: Property, plant and equipment
(03/31/2024 12/31/2023 Cost Depreciation and Impairment ‘Accumulated at ‘Accumulated at Beginning End of the beginning at the end Net book Net book Account of the year Additions Retirements Transfers the period ofthe year Retirements For the period Rate % of the period value value Pipelines 1,278,75
Slide 26: Loans denominated in foreign currency
Loans are totally denominated in foreign currency different than the Argentine peso. The activity of the loans as of March 31, 2024 and 2023 is the following:
Slide 27: New bank loans and lease liability
During the three-month period ended March 31, 2024, the Company incurred new bank loans of Ps. 21,615,478. Additionally, bank loans cancellations were made for Ps. 26,371,487. In January 2023, the Company entered into a new lease liability for Ps. 2,728,554. It is denominated in US dollars, payable
Slide 28: Provisions for legal claims and others
For legal claims and others Balances as of 12/31/2022 10,859,260 Inflation adjustment restatement (G,171 490) Additions 269,762" Uses: (7048) Decreases = Balances as of 03/31/2023 5,950,504 Inflation adjustment restatement (4,099,022) Additions 1,900,575 Uses. : Decreases : Balances as of 12/31/2023
Slide 29: Financial assets and liabilities as of March 31, 2024
March 31, 2024 Financial assets Financial assets at at fair value amortized cost Total CURRENT ASSETS Trade receivables = 31711469 Bae Other receivables = 6,028,952 6,028,952 Finandal assets at amortized cost : 199,770,410 199,770,410 Finandal_assets at fair value through profit or loss 215,738,615
Slide 30: Fair value measurement hierarchy and estimates
17.2 Fair value measurement hierarchy and estimates According to IFRS Accounting Standard 13, the fair value hierarchy introduces three levels of inputs based on the lowest level of input significant to the overall fair value. These levels are: · Level 1: includes financial assets and liabilities wh
Slide 31: Assets and liabilities in foreign currency
03/31/2024 12/31/2023 Foreign currency ‘Amount Foreign currency ‘Amount and amount Exchange in local and amount in local (in thousands) rate (in thousands) currency CURRENT ASSETS Cash and cash equivalents uss 14,259 855.000 12,191,629 uss 5,607 6,847,146 Financial assets at amortized cost uss 233,6
Slide 32: Related party transactions
As of March 31, 2024 and December 31, 2023, tgs holds Ps. 10,946,767 and Ps. 15,136,248, respectively, corresponding to dollar-linked notes issued by CT Barragán S.A.. The book value of the notes is disclosed within the caption “Financial assets at fair value through profit or loss”. The detail of s
Slide 33: Related party services received
Additionally, during the three-months period ended March 31, 2024, the Company received from SACDE Construcciones S.A. construction and site engineering services for Ps. 24,387,509. Three -month period ended March 31 , 202 3 :
Slide 34: Related party revenues, costs and financial results
Revenues Costs Financial results Production and Natural Gas commercialization of Gas purchase Compensation for _Interest Selling expenses Company Transportation liquids Midstream and others technical assistance __expense__Interest gain a Associate which exercises joint control on the controlling sha
Gas Transporter of the South — FINANCIAL SATEMENTS AS OF 31, MARCH 2024 on 6ix