Transportadora De Gas Del Sur Sa Class B · BCBA:TGSU2
Transportadora De Gas Del Sur Sa Class B — Gas Transporter of the South — Q3 2014 Earnings Presentation
35 slides from Transportadora De Gas Del Sur Sa Class B's earnings presentation, Nov 25, 2014
Slide 1: Overview
Overview For the nine-month period ended September 30, 2014, the Company has reported a net income of Ps. 77.8 million, in comparison to the total comprehensive income of Ps. 49.0 million reported in the same period last year, representing an increase of Ps. 28.8 million. The main negative effect wh
Slide 2: Net financial results, income tax expense and liquidity
This increase was mainly related to: (i) the Ps. 264.4 million increase in the foreign exchange loss which was generated by approximately a 29% higher devaluation of the local currency in the nine-month period ended September 30, 2014, (ii) the Ps. 80.5 million of negative results in derivative fina
Slide 3: Cash flows and third quarter 2014 vs. third quarter 2013
The net increase in cash flows provided by operating activities was Ps. 198.5 million and was mainly related to additional cash flow generated by the Liquids Production and Commercialization segment. Finally, the variation in the Cash flows used in financial activities was mainly due to the cancella
Slide 4: Third quarter 2014 net revenues by segment
Total Net Revenues increased Ps. 413.1 million in the third quarter of 2014, when compared to the third quarter of 2013. Net revenues from Natural Gas Transportation business segment increased by Ps. 28.4 million in the third quarter 2014, when compared with the same period of the previous year. Thi
Slide 5: Consolidated Statements of Comprehensive Income Summary
5. Consolidated Statements of Comprehensive Income Summary Summary of the consolidated statements of comprehensive income information for the nine-month periods ended September 30, 2014, 2013 and 2012:
Slide 6: Statistical Data (Physical Units)
6. Statistical Data (Physical Units)
Slide 7: Statistical data: nine-month period and third quarter
‘Nine-month period ended S eptember 30, Third quarter ended $ eptember 30, 2014 2013 2012 2011 2010 2014 2013 2012 2011 2010 Gas Transportation ‘Average firm contracted capacity Gn billions of cubic feet per day (Bef/d")) 285 2.89 2.91 2.88 2.81 2.84 287 291 284 2.84 Average daily deliveries (in Bef
Slide 8: Condensed Interim Consolidated Statements of Financial Position
Ricardo I. Monge Chairman of the Board of Directors TRANSPORTADORA DE GAS DEL SUR S.A. CONDENSED INTERIM CONSOLIDATED STATEMENTS OF FINANCIAL POSITION AS OF SEPTEMBER 30, 2014 AND DECEMBER 31, 2013 (Stated in thousands of pesos as described in Note 3)
Slide 9: Condensed Interim Consolidated Statements of Changes in Equity
Ricardo I. Monge Chairman of the Board of Directors TRANSPORTADORA DE GAS DEL SUR S.A. CONDENSED INTERIM CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY FOR THE NINE-MONTH PERIODS ENDED SEPTEMBER 30, 2014 AND 2013 (Stated in thousands of pesos as described in Note 3)
Slide 10: Condensed Interim Consolidated Statements of Cash Flows
Ricardo I. Monge Chairman of the Board of Directors TRANSPORTADORA DE GAS DEL SUR S.A. CONDENSED INTERIM CONSOLIDATED STATEMENTS OF CASH FLOWS FOR THE NINE-MONTH PERIODS ENDED SEPTEMBER, 2014 AND 2013 (Stated in thousands of pesos as described in Note 3) _____________________________________________
Slide 11: Notes: Business Description
Ricardo I. Monge Chairman of the Board of Directors TRANSPORTADORA DE GAS DEL SUR S.A. NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS AS OF SEPTEMBER 30, 2014 AND COMPARATIVE INFORMATION (Stated in thousands of pesos as described in Note 3, unless otherwise stated) ________________
Slide 12: Segment information, nine months ended September 30, 2014
Nine-month period ended $ eptember 30,2014 Production and Natural Gas © Commer cialization of Other Transportation Liquids Services Total Revenue from sales"? 558,455 2,371,546 233,191 3,163,192 Cost of sales (437,150) 1,300,909) (76,392) (814,451) ‘Administrative expenses (6,521) (23,582) 6,207) (1
Slide 13: Summary of significant statement items: other receivables
TRANSPORTADORA DE GAS DEL SUR S.A. NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS AS OF SEPTEMBER 30, 2014 AND COMPARATIVE INFORMATION (Stated in thousands of pesos as described in Note 3, unless otherwise stated) ____________________________________________________________________
Slide 14: Other receivables by currency of origin
The breakdown of other receivables based on its currency of origin is the following:
Slide 15: Trade receivables by currency of origin
The breakdown of trade receivables based on its currency of origin is the following:
Slide 16: Provision balances
Balances as of December 31, 2012 31,300 Additions Applications (8892) Decreases (18,287) Balances as of September 30, 2013 4,121 Additions - Applications - Decreases - Balances as of December 31, 2013 4,121 Additions - Applications - Decreases (207) Balances as of S eptember 30, 2014 3,914 “) tn clu
Slide 17: Advances from customers
Advances from customers are denominated in pesos. TRANSPORTADORA DE GAS DEL SUR S.A. NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS AS OF SEPTEMBER 30, 2014 AND COMPARATIVE INFORMATION (Stated in thousands of pesos as described in Note 3, unless otherwise stated) __________________
Slide 18: Other payables and taxes payables
Other payables are denominated in pesos. f) Taxes payables
Slide 19: Expenses by nature
TRANSPORTADORA DE GAS DEL SUR S.A. NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS AS OF SEPTEMBER 30, 2014 AND COMPARATIVE INFORMATION (Stated in thousands of pesos as described in Note 3) _____________________________________________________________________________________________
Slide 20: Net financial results
TRANSPORTADORA DE GAS DEL SUR S.A. NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS AS OF SEPTEMBER 30, 2014 AND COMPARATIVE INFORMATION (Stated in thousands of pesos as described in Note 3, unless otherwise stated) j) Net financial results
Slide 21: Other operating (expenses) / income
k) Other operating (expenses) / income
Slide 22: Property, plant and equipment
TRANSPORTADORA DE GAS DEL SUR S.A. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS AS OF SEPTEMBER 30, 2014 AND COMPARATIVE INFORMATION (Stated in thousands of pesos as described in Note 3, unless otherwise stated) ______________________________________________________________________________________
Slide 23: Loans
TRANSPORTADORA DE GAS DEL SUR S.A. NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS AS OF SEPTEMBER 30, 2014 AND COMPARATIVE INFORMATION (Stated in thousands of pesos as described in Note 3, unless otherwise stated) 13. LOANS In order to improve the maturity profile of TGS’s financia
Slide 24: 2014 Notes and loans by term
The 2014 Notes are traded in the Bolsa de Comercio de Buenos Aires ("BCBA"), the Mercado Abierto Electrónico (“MAE”) and the Euro MTF of the Luxembourg Exchange. The terms and conditions of the 2014 Notes are similar to those applied to the 2007 Notes, having not changed financial covenants with res
Slide 25: Loans by currency of origin
TRANSPORTADORA DE GAS DEL SUR S.A. NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS AS OF SEPTEMBER 30, 2014 AND COMPARATIVE INFORMATION (Stated in thousands of pesos as described in Note 3, unless otherwise stated) The breakdown of loans based on its currency of origin is the follow
Slide 26: Maturities of current and non-current loans
The maturities of the current and non-current loans as of September 30, 2014 are as follows:
Slide 27: Income tax and deferred tax
14. INCOME TAX AND DEFERRED TAX As of the date of the issuance of these condensed interim consolidated financial statements, there are no significant changes with respect to the situation disclosed by the Company as of December 31, 2013. The reconciliation between the tax computed for tax purposes a
Slide 28: Financial instruments by category and hierarchy
16. FINANCIAL INSTRUMENTS BY CATEGORY AND HIERARCHY 16.1 Financial instrument categories There have been no significant changes regarding the accounting policies for the categorization of financial instruments since the policies disclosed by the Company as of December 31, 2013. The categories of fin
Slide 29: Notes to the condensed interim consolidated financial statements
TRANSPORTADORA DE GAS DEL SUR S.A. NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS AS OF SEPTEMBER 30, 2014 AND COMPARATIVE INFORMATION (Stated in thousands of pesos as described in Note 3, unless otherwise stated)
Slide 30: Fair value measurement hierarchy and estimates
16.2 Fair value measurement hierarchy and estimates According to IFRS 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 whose fair values
Slide 31: Financial assets at fair value by level
Level Level2 Level3 Total Financial assets at fair value Cash and cash equivalents 6467 6467 Other current finan cialassets at fair value through profit or loss 190,377 190,377 Other non-current financial assets at fair value through profit or loss 23,423 23,423 Total 220,267 220,267
Slide 32: Key management compensation and related party balances
Key management compensation The accrued amounts corresponding to the compensation of the members of the Board of Directors, the Statutory Committee and the Executive Committee for the nine-month periods ended September 30, 2014 and 2013 were Ps. 16,509 and Ps. 13,595, respectively. Balances and tran
Slide 33: Related party transactions, nine months 2014
TRANSPORTADORA DE GAS DEL SUR S.A. NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS AS OF SEPTEMBER 30, 2014 AND COMPARATIVE INFORMATION (Stated in thousands of pesos as described in Note 3, unless otherwise stated) The detail of significant transactions with related parties for the
Slide 34: Related party transactions, nine months 2013
Nine-month period ended September 30, 2013:
Slide 35: Subsidiary and Associates
SUBSIDIARY AND ASSOCIATES 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 extends from Buchanan, located in the high-pre
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