Promigas Sa Esp · BVC:PROMIGAS
Promigas Sa Esp — Promigas — Q1 2021 Earnings Presentation
51 slides from Promigas Sa Esp's earnings presentation, May 27, 2021
Slide 1: Promigas Results 1Q 2021
PROMIGAS RESULTS 1Q 2021 May 27, 2021
Slide 2: Disclaimer
DISCLAIMER Promigas, S.A., E.S.P. (“Promigas”) is a bond issuer in Colombia, registered in the National Registry of Securities and Issuers. Thus, the company is subject to compliance with applicable securities regulations in Colombia; in addition, Promigas is committed as IR ISSUER of the BVC, and h
Slide 3: Contents
01 Relevant Facts 02 Corporate Aspects 03 SBU Transportation Contents 04 SBU Distribution 05 Financial Statements
Slide 4: Relevant Facts 1Q 2021
RELEVANT FACTS 1Q 2021
Slide 5: Relevant Facts
PERIOD RESULTS– EBITDA: COP $321.115 MM Net Income: COP $270.839 MM Consolidated EBITDA 7% increase compared to 1Q 2020 ($443,687 MM vs. $412,845 MM) and consolidated Net Income 2.5% increase RELEVANT compared to the same period in 2020 ($270,963 MM vs. COP 264,277 MM). FACTS CREDIT RATINGS The resu
Slide 6: Relevant Facts: Shareholder Meeting and Dividends
PROMIGAS SHAREHOLDER MEETING AND DIVIDENDS On March 17, the Shareholders' Meeting of Promigas S.A. was held. E.S.P. successfully. This was attended by 92.8% of the RELEVANT subscribed shares and the Profit Distribution Project was approved, decreeing dividends for a total of $ 524,300 MM, FACTS incr
Slide 7: Corporate Aspects
CORPORATE ASPECTS 7 aT
Slide 8: Relevant Data by SBU
RELEVANT DATA BY SBU 21 COMPANIES 2 COUNTRIES 3.014(1) EMPLOYEES Accumulated to March 2021 SBU TRANSPORTATION SBU DISTRIBUTION COLOMBIA PERU TOTAL Users 3.86 MM 1.23 MM 5.1 MM (Δ3%) (Δ14%) (Δ5%) Gas Pipelines Transportation Volume Populations 878 44 922 Capacity Transported 3,292 KM Served (Δ4%) (Δ3
Slide 9: Individual Financial Results
INDIVIDUAL FINANCIAL RESULTS Notable figures as of March 2021 1T 2020 REVENUE EBITDA NET INCOME $0.4 Bn (Exec.103%) $0.3 Bn (Exec.107%) $0.3 Bn (Exec.106%) Variation 2021 vs. 2020 ∆8% ∆10% ∆2% 43% 57% Participation Promigas Method
Slide 10: Consolidated Financial Results
CONSOLIDATED FINANCIAL RESULTS Notable figures as of March 2021 1T 2020 REVENUE (1) EBITDA (2) NET INCOME $1.1 Bn (Ejec.98%) $0.4 Bn (Ejec.103%) $0.3 Bn (Ejec.106%) Variation 2021 vs. 2020 ∆-2% ∆7% ∆2% 70% 30% 49% 51% 49% 51% Transportation Distribution Note: (1) Revenue: Revenue + Participation Met
Slide 11: COVID-19 Response
COVID-19 RESPONSE Planning, diligence and adaptabilty 100% Normal Operation HR 73% 1.693* 626* 27% FIELD/OFFICE HOME OFFICE WORK * Direct Employees Prevention Strategy Biosafety protocols, covid-19 test plans, safe facilities. Financing Strategy Funding assured for the CAPEX 2021 base plan. Customer
Slide 12: CEO message on first quarter results
“ Our results for the first quarter that ended in March 31 reflect the effort, by both Promigas and the companies in our portfolio, to meet the challenges faced in 2020 due to the COVID-19 pandemic. Although traces of it still persist in some of our activities in Colombia and Peru, we continue to wo
Slide 13: Corporate Aspects: Sustainable Management (ESG)
CORPORATE ASPECTS SUSTAINABLE MANAGEMENT (ESG)
Slide 14: Commitment to gender equality and empowerment of women
SUSTAINABLE MANAGEMENT: Commitment to gender equality and empowerment of women Promigas is the COLCAP company with the highest female participation (60%), since there are three women and two men Our sustainability agenda, a on its Board of Directors. way of strengthening our For the first time, fema
Slide 15: Contributing to social and economic development of regions
We are committed to contributing to the social and economic development of the regions where we operate We help communities experience the great transformations that are required to overcome their challenges. To overcome To guide development To incorporate practices To create poverty traps and oppor
Slide 16: Supporting our communities and interest groups
SUSTAINABLE MANAGEMENT: Supporting our communities and interest groups Aid Relief to PYME “More Solidarity, More Life”: Suppliers 13.800 humanitarian aid packages In order to make a greater delivered contribution to the economic reactivation of the country, Promigas and the Transportation and Distri
Slide 17: Hands to the Field
SUSTAINABLE MANAGEMENT: Productive Hands to the Field Projects in Connection with Tropical Dry Forest Beneficiaries: 400 families from El Crucero, Objective: Cañito, San Nicolas y Paiva (Córdoba, Sucre Conservation of the Tropical Dry Forest Ecosystem by y Bolivar) communities providing financial ai
Slide 18: Let's Cultivate Hugs
LETS CULTIVATE HUGS We are going to plant 200,000 trees that represent hope, life and the sustainability of our territories. 200,000 native tres will be planted in 11 departments of Colombia by the sustainability teams of Promigas and its subsidiaries. With the sowing of our native species, we contr
Slide 19: Innovation: Building a Sustainable Future for Our Business
INNOVATION: Building a Sustainable Future for Our Business Innovation “Create Your Innovative Project Acceleration Plan Environment” 2nd Edition Recognition Promigas launches Innovation 2nd edition of the “Invent Your Project Acceleration Plan, with a 2021-2025 Environment” Tournament was horizon, m
Slide 20: Innovation: Building a Sustainable Future for Our Business
INNOVATION: Building a Sustainable Future for Our Business
Slide 21: Results: SBU Transportation
RESULTS SBU TRANSPORTATION
Slide 22: SBU Transportation Results Q1 2021
SBU TRANSPORTATION RESULTS Q1 2021 INFRASTRUCTURE AT THE SERVICE OF THE COUNTRY’S ENERGY MATRIX, RELIABLE AND SAFE SPEC COMPANIES SBU Transportation 2020 2021 Var % Figures in million of pesos Ene - Mar Ene - Mar Revenues 353.470 332.987 -6% Figures 100% subsidiares, before eliminations. Does not in
Slide 23: Natural Gas Transportation: Relevant Facts
NATURAL GAS TRANSPORTATION RELEVANT FACTS Non-thermoelectric demand picks up on the Coast in 2021, due to reactivation of the economy Thermoelectric Sector SPEC ▪ Dispatches by our thermoelectric customers have reduced significantly due to hydrological contributions in the first few months of the ye
Slide 24: Natural Gas Transportation: Relevant Facts of Our Management
NATURAL GAS TRANSPORTATION RELEVANT FACTS OF OUR MANAGEMENT Transported Volume (MMSCFD) In 2021, higher consumption 2020 2021 by the Barranca refinery and Var% Jan-Mar Jan-Mar gradual recovery from the 31 38 +21% effect of COVID-19. Transported Volume Positive recovery from the effects (MMSCFD) of t
Slide 25: Natural Gas Transportation: Relevant Facts
NATURAL GAS TRANSPORTATION RELEVANT FACTS
Slide 26: SPEC LNG
SPEC LNG RELEVANT FACTS OF A STRATEGIC ASSET FOR THE COUNTRY 4 Strategic proximity to Years of Operation 2020 2021 international LNG OPERATING FIGURES Var % markets. Jan - Mar Jan - Mar Number of LNG shipments 7 0 -100% LNG recieved (M3) 320.793 0 -100% 170.000 m3 NG delivered (MMCF) Regasification
Slide 27: Promisol
PROMISOL RELEVANT FACTS Promisol continued to execute the corrective and preventive maintenance service framework contract for Promigas, exceeding the promise established in the contract. It also carried out a successful operation of the Bonga and Mamey hydrocarbon treatment plant, in line with the
Slide 28: Natural Gas Transportation: Regulatory Aspects
NATURAL GAS TRANSPORTATION REGULATORY ASPECTS Transportation Marketing In January, the CREG published Resolution 001 of 2021, which established the mechanism for assigning gas transportation capacity in the event of contractual congestion; in other words, when requests exceed available transportatio
Slide 29: Natural Gas Transportation: Regulatory Aspects
NATURAL GAS TRANSPORTATION REGULATORY ASPECTS Supply Plan Projects In February, through Resolutions 006 and 007 of 2021, the CREG proposed regulatory adjustments associated with the execution of, and remuneration for, Supply Plan projects. The CREG is expected to define and approve the efficient val
Slide 30: CEO commitment message
“ Today, more than ever, we ratify our firm commitment to contribute our services, activities and all our infrastructure, which are key elements of the energy grids of Colombia and Peru, to providing all our interested parties with comprehensive benefits for the good of the sector, of the regions wh
Slide 31: Results: SBU Distribution
RESULTS SBU DISTRIBUTION
Slide 32: SBU Distribution Results Q1 2021
SBU DISTRIBUTION RESULTS Q1 2021 SAFE AND RELIABLE SERVICE GUARANTEE TO OUR USERS Gases de La Guajira Gases del Caribe COMPANIES Surtigas GASES DEL NORTE GASES DEL PACÍFICO CEO Efigas GdO Quavii GASES DEL NORTE SBU Distribution 2020 2021 Promigas Perú Var % Figures in million of pesos Jan - Mar Jan
Slide 33: Natural Gas Distribution: Management in Colombia
NATURAL GAS DISTRIBUTION RELEVANT FACTS – MANAGEMENT IN COLOMBIA ▪ At the close of Q1, Promigas was serving around 37% of users in Colombia. The service reached 42 new populations in the last 12 months and 5 more in Q1 2021, reaffirming our commitment to the massification of the benefits of the serv
Slide 34: Natural Gas Distribution: Management in Peru
NATURAL GAS DISTRIBUTION RELEVANT FACTS – MANAGEMENT IN PERU ▪ Cálidda serves 1,099,035 users in Lima and El Callao, with an effective coverage figure of 92% (connected users/rings). ▪ At the close of Q1, it sold 1,882 MMm3 of natural gas, increasing 17 MM m3 compared to the accumulated as of March
Slide 35: Natural Gas Distribution: Management in Peru
NATURAL GAS DISTRIBUTION RELEVANT FACTS – MANAGEMENT IN PERU GASES DEL PACÍFICO ▪ Quavii distributed 19 MMm3 of natural gas (∆48%), a growth in volume that was related to the increase in the number of accumulated users (∆36%). Seven of these new customers are industries with high consumption figures
Slide 36: Natural Gas Distribution: Regulatory Aspects Update
NATURAL GAS DISTRIBUTION UPDATE ON REGULATORY ASPECTS Colombia The CREG published a draft resolution which sets out general remuneration criteria for the retail marketing of fuel gas through pipeline networks to regulated users. It establishes a fixed component plus a variable component that conside
Slide 37: Electric Power Distribution
ELECTRIC POWER DISTRIBUTION SERVICE QUALITY AND MANAGEMENT INDICATORS HIGHER THAN THE STANDARDS REQUIRE Regulatory Aspects Notable Operational Facts ▪ As of March 2021, CEO had connected 3,898 new users, for an accumulated total of 413,291. ▪ Through resolution 40060 of March 3, 2021, issued by the
Slide 38: Non-Banking Financing: Brilla
NON-BANKING FINANCING: BRILLA PROGRAM WITH WIDE BENEFITS FOR OUR CUSTOMERS, PROFITABILITY AND LOYALTY 119,065 users benefited from January to March, for In Q1 2021: an accumulated total of 3.8 million since the program Quotas were unified by leveling all started, distributed as follows: companies, w
Slide 39: Financial Statements Q1 2021
FINANCIAL STATEMENTS Q1 2021
Slide 40: Promigas Profit & Loss Statement Individual
Financial Statements PROMIGAS PROFIT & LOSS STATEMENT INDIVIDUAL Q1 2021 vs. Q1 2020 Revenue $373,501 MM (103% Budget) Revenue EBITDA Net Income • Operating Revenue (-5%): Decrease due to reduced volumes transported in ∆8% ∆10% ∆2% 2021. In the first quarter of 2020, thermal dispatches from the Coas
Slide 41: Promigas Profit & Loss Statement Individual
Financial Statements PROMIGAS PROFIT & LOSS STATEMENT INDIVIDUAL Q1 2021 vs. Q1 2020 EBITDA $321,115 MM (107% Budget) Revenue EBITDA Net Income • Increase generated mainly by higher participation method revenue and ∆8% ∆10% ∆2% lower costs and expenses, in line with our Responsible Austerity plan. 3
Slide 42: Promigas Balance Sheet March 2021: Assets
Financial Statements PROMIGAS BALANCE SHEET March 2021 Assets Δ3% (YTD) • Other Current Assets (154%): Increase due to dividends decreed by affiliated companies at meetings in March 2021. Assets • Financial Assets (3%): Update of macroeconomic variables for the calculation of financial assets, $8.6
Slide 43: Promigas Balance Sheet March 2021: Liabilities
Financial Staements PROMIGAS BALANCE SHEET March 2021 Liabilities Δ13% (YTD) Liabilities • Current Liabilities (178%): Increase due to $4.5 Bn ordinary dividends decreed in March 2021 and ∆13% YTD Liabilities transfer from long term of seven-year bond $4.5 Bn series. ∆13% YTD Equity • Long-term Liab
Slide 44: Promigas Consolidated Debt
Financial Statements Average Cost of Debt: • March 2020: 5.94% PROMIGAS CONSOLIDATED DEBT: $6.1 Bn (∆1% vs Mar-20) • March 2021: 4.41% Debt by Product Debt by Currency Debt by Company 1% 3% 1% 2% 2% PROMIGAS 1T-2021 1T-2021 1% QUAVII 23% 3% 1T-2021 1T-2020 1T-2020 3% 1T-2020 GDO 4% 4% 1T-2020 4% SUR
Slide 45: Q&A
Q&A
Slide 46: Annexes
Annexes » :
Slide 47: Promigas Cash Flow Statement
Annex PROMIGAS CASH FLOW STATEMENT Figures in Millions of Pesos March 2021 Net Profit 270.839 Depreciations, Amortizations and Provisions 37.977 Participation Method -183.643 Dividends Received 23.870 Changes in Assets/Liabilities -38.248 Operational Flow 110.795 Investment in Capital Goods -16.061
Slide 48: Promigas Profit & Loss Statement Consolidated
Financial Statements PROMIGAS PORFIT & LOSS STATEMENT CONSOLIDATED Revenue (∆-2%): ▪ Operating Revenue (-1%): SPEC: Decrease, mainly, because of fewer regasification days in 2021 and the effect of the annual decrease in Va revenue Q1 2021 vs. Q1 2020 due to its treatment as a financial asset under I
Slide 49: Financial Results by SBU
FINANCIAL RESULTS BY SBU SBU TRANSPORTATION SBU DISTRIBUTION Q1 2020 CONSOLIDATED REVENUE(1) $1,063,914 MM 30% 59% 11% Execution: 98% CONSOLIDATED EBITDA(2) $ $443,687 MM 51% 41% 8% Execution: 103% CONSOLIDATED NET INCOME $270,963 MM 51% 44% 5% Execution: 106% Revenue EBITDA Net Income Q1 2021 vs. Q
Slide 50: Promigas Balance Sheet Consolidated
Financial Statements PROMIGAS BALANCE SHEET CONSOLIDATED Assets Consolidated Balance $13.6 Bn March 2021 ∆3% YTD (COP) Liabilities Assets $9.3 Bn $13.6 Bn ∆8% YTD ∆3% YTD Equity Liabilities $4.3 Bn $9.3 Bn ∆-5% YTD ∆8% YTD Figures in COP
Slide 51: Thank You!
Investor Relations [email protected] Calle 66 # 67-123 Barranquilla, Colombia THANK YOU! @promigasoficial | promigas