Transportadora De Gas Del Sur Sa Class B · BCBA:TGSU2
Transportadora De Gas Del Sur Sa Class B — Gas Transporter of the South — Q2 2025 Earnings Presentation
23 slides from Transportadora De Gas Del Sur Sa Class B's earnings presentation, Aug 6, 2025
Slide 1: 2Q25 Earnings Release
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Slide 2: Total comprehensive income 2Q2025
(1) The financial information included in this press release is based, unless otherwise stated, on the interim condensed financial statements and is presented in millions of constant Argentine pesos as of June 30, 2025 (Ps.), which is based on the application of International Financial Reporting Sta
Slide 3: Operating profit for 2Q2025
Operating profit for 2Q2025 totaled Ps. 122,575 million, Ps. 54,360 million below 2Q2024. This variation was mainly due to lower revenues in the Production and Commercialization of Liquids (“Liquids”) segment and the Natural Gas Transportation segment amounting to Ps. 25,216 million and Ps. 12,982 m
Slide 4: Breakdown of net cost of sales and expenses
The breakdown of net cost of sales , administrative and selling expenses , excluding depreciation, for 2Q2025 and 2Q2024 is shown in the table below: Transportadora de Gas del Sur S.A. Madero Office Building – 355 Cecilia Grierson St. 26 th floor (C1107CPG), Autonomous City of Buenos Aires, Argentin
Slide 5: Cost of sales and expenses increase drivers
Net c ost of sale s and administrative and selling expenses increased by Ps. 17,445 million, mainly due to higher: (i) depreciation of Ps. 8,941 million, (ii) impairment of financial assets corresponding to a customer in the Natural Gas Transportation segment of Ps. 8,383 million, (iii) labor costs
Slide 6: floor
Transportadora de Gas del Sur S.A. Madero Office Building – 355 Cecilia Grierson St. 26 th floor (C1107CPG), Autonomous City of Buenos Aires, Argentina. https://www.tgs.com.ar/investors/Press-releases
Slide 7: Natural Gas Transportation revenues
Natural gas transportation revenues accounted for approximately 43% and 44% of total revenues in 2Q2025 and 2Q2024, respectively. Revenues from this segment are derived mainly from firm natural gas transportation contracts, which represented approximately 81% and 85% of the total revenues for this s
Slide 8: Natural Gas Transportation operating profit and tariff review
During the second quarter of 2025, the Secretariat of Energy approved the monthly adjustment methodology applicable following the completion of the Five-Year Tariff Review (RQT) process. The negative variation in operating profit was mainly explained by a decrease in revenues of Ps. 12,982 million,
Slide 9: Liquids segment operating profit
During 2Q2025, operating profit for this business segment reached Ps. 22,310 million, representing a decrease of Ps. 27,411 million compared to the same period in 2024 (Ps. 49,721 million). This decline was mainly due to a reduction in revenues of Ps. 25,216 million and higher other operating result
Slide 10: floor
Transportadora de Gas del Sur S.A. Madero Office Building – 355 Cecilia Grierson St. 26 th floor (C1107CPG), Autonomous City of Buenos Aires, Argentina. https://www.tgs.com.ar/investors/Press-releases
Slide 11: Midstream and Telecommunications
Midstream and Telecommunications Midstream and Telecommunications business segment includes mainly services provided by tgs at Vaca Muerta, representing approximately 22% and 16% of our total revenues for 2Q2025 and 2Q2024, respectively.
Slide 12: Midstream operating profit increase
The operating profit increased by Ps. 4,992 million, mainly explained by higher revenues of Ps. 16,548 million in 2Q2025 compared to 2Q2024. This effect was partially offset by higher net cost of sales and administrative and selling expenses of Ps. 12,541 million. The increase in revenues was mainly
Slide 13: Financial position analysis
Financial position analysis Net debt As of June 30, 2025, our net financial debt amounted a negative balance of Ps. 2,303 million, compared to Ps. 249,669 million as of December 31, 2024. On both dates, the entirety of our financial debt was denominated in foreign currency. The table below shows a r
Slide 14: floor
Transportadora de Gas del Sur S.A. Madero Office Building – 355 Cecilia Grierson St. 26 th floor (C1107CPG), Autonomous City of Buenos Aires, Argentina. https://www.tgs.com.ar/investors/Press-releases
Slide 15: Funds allocation
As of June 30, 2025 and December 31, 2024, the funds allocation was as follows:
Slide 16: Free cash flow reconciliation
The table below shows a reconciliation of the free cash flows for the 2Q2025 and 2Q2024 periods:
Slide 17: 2Q2025 vs. 2Q2024 cash flows
2Q2025 vs. 2Q2024 During 2Q2025, cash flows provided by operating activities amounted to Ps. 88,300 million, representing a decrease of Ps. 49,080 million compared to 2Q2024. This variation was mainly explained by a decline in net income (Ps. 40,278 million compared to Ps. 119,739 million in 2Q2024)
Slide 18: Financial Information for three and six-month periods
Transportadora de Gas del Sur S.A. Financial Information for the three ("2Q") and six-month periods ("6M") ended June 30, 2025 and 2024 (In millions of Argentine pesos, except for per share and per ADS information in pesos or where otherwise indicated) 202025 202024 62025 6M2024 Natural Gas Transpor
Slide 19: floor
Transportadora de Gas del Sur S.A. Madero Office Building – 355 Cecilia Grierson St. 26 th floor (C1107CPG), Autonomous City of Buenos Aires, Argentina. https://www.tgs.com.ar/investors/Press-releases
Slide 20: floor
Transportadora de Gas del Sur S.A. Madero Office Building – 355 Cecilia Grierson St. 26 th floor (C1107CPG), Autonomous City of Buenos Aires, Argentina. https://www.tgs.com.ar/investors/Press-releases
Slide 21: floor
Transportadora de Gas del Sur S.A. Madero Office Building – 355 Cecilia Grierson St. 26 th floor (C1107CPG), Autonomous City of Buenos Aires, Argentina. https://www.tgs.com.ar/investors/Press-releases
Slide 22: floor
Transportadora de Gas del Sur S.A. Madero Office Building – 355 Cecilia Grierson St. 26 th floor (C1107CPG), Autonomous City of Buenos Aires, Argentina. https://www.tgs.com.ar/investors/Press-releases
Slide 23: floor
Transportadora de Gas del Sur S.A. Madero Office Building – 355 Cecilia Grierson St. 26 th floor (C1107CPG), Autonomous City of Buenos Aires, Argentina. https://www.tgs.com.ar/investors/Press-releases
Gas Transporter of the South — Q2 2025 Earnings Presentation on 6ix