Central Puerto 3Q24 Earnings Release
Central Puerto 3Q24 Earnings Release
Buenos Aires, Argentina--(Newsfile Corp. - December 10, 2024) - Central Puerto S.A (NYSE: CEPU) ("Central Puerto" or the "Company"), the largest private sector power generation companies in Argentina, reports its consolidated financial results for the Third Quarter 2024 ("3Q24"), ended on September 30th, 2024.
阿根廷布宜诺斯艾利斯--(新闻文件公司 - 2024年12月10日) - 中央港口公司(纽交所:CEPU)("中央港口"或"公司"),阿根廷最大的私营电力生成公司,发布了截至2024年9月30日的2024年第三季度("3Q24")合并财务结果。
A conference call to discuss the 3Q24 results will be held on November 11th, 2024, at 10 AM Eastern Time (see details below). All information provided is presented on a consolidated basis, unless otherwise stated.
将于2024年11月11日上午10点(东部时间)召开电话会议,讨论3Q24结果(详见下文)。除非另有说明,提供的所有信息均为合并基础。
Financial statements as of September 30th, 2024, include the effects of the inflation adjustment, applying IAS 29. Accordingly, the financial statements have been stated in terms of the measuring unit current at the end of the reporting period, including the corresponding financial figures for previous periods reported for comparative purposes. Growth comparisons refer to the same periods of the previous year, measured in the current unit at the end of the period, unless otherwise stated. Consequently, the information included in the Financial Statements for the period ended on September 30th, 2024, is not comparable to the Financial Statements previously published by the company. However, we presented some figures converted from Argentine Pesos to U.S. dollars for comparison purposes only. The exchange rate used to convert Argentine Pesos to U.S. dollars was the reference exchange rate (Communication "A" 3500) reported by the Central Bank for U.S. dollars for the end of each period. The information presented in U.S. dollars is for the convenience of the reader only and may defer if such conversion for each period is performed at the exchange rate applicable at the end of the latest period. You should not consider these translations to be representations that the Argentine Peso amounts actually represent these U.S. dollars amounts or could be converted into U.S. dollars at the rate indicated.
截至2024年9月30日的财务报表已包括根据IAS 29进行的通货膨胀调整的影响。因此,财务报表已以报告期末的计量单位为基础列示,包括为比较目的而报告的前期对应财务数字的相应数据。增长比较指的是前一年相同的时期,以报告期末的当前单位衡量,除非另有说明。因此,截止2024年9月30日的财务报表中的信息与公司之前发布的财务报表不具有可比性。然而,我们提供了一些阿根廷比索转换为美元的数字,仅供比较用途。用于将阿根廷比索转换为美元的汇率为中央银行报告的美元参考汇率(通信"A" 3500),适用于每个期间的末期。以美元呈现的信息仅为读者的便利,具体的转换如果在最近期末适用的汇率下进行,可能会有所不同。您不应将这些转换视为阿根廷比索实际上代表这些美元金额或可以按所示汇率转换为美元的陈述。
Definitions and terms used herein are provided in the Glossary at the end of this document. This release does not contain all the Company's financial information. As a result, investors should read this release in conjunction with Central Puerto's consolidated financial statements as of and for the period ended on September 30th, 2024, and the notes thereto, which will be available on the Company's website.
此处使用的定义和术语在本文件末尾的词汇表中提供。本发布不包含公司的所有财务信息。因此,投资者应结合中央港口截至2024年9月30日的合并财务报表及其附注阅读本发布,这些信息将在公司网站上提供。
A. Regulatory Updates and News
A. 监管更新与资讯
Resolution SE N°151/2024
决议 SE N°151/2024
On July 8th, 2024, the Secretariat of Energy cancelled the so called Terconf, a thermal generation tender aiming to increase the thermal power supply and its reliability. Central Puerto had been awarded with 516 MW allocated in Central Costanera.
2024年7月8日,能源秘书处取消了所谓的Terconf,一个旨在增加热电供应及其可靠性的热发电招标。Central Puerto被授予516 MW的电力分配,分配在Central Costanera。
Resolution SE N°193/2024
决议 SE N°193/2024
On August 1st, 2024, the Secretariat of Energy updated remuneration prices for energy and power of generation units not committed in a PPA (spot market). Remuneration values increased 3% since August 1st, 2024.
2024年8月1日,能源秘书处更新了未参与PPA(现货市场)发电单元的能量和发电价格的报酬。自2024年8月1日起,报酬值增加了3%。
Extension of Operation for Piedra del Águila Hydroelectric Complex
延长Piedra del Águila水电综合体的运营
On August 12th, 2024, Presidential decree No. 718/2024 was published in the Official Gazette, extending Central Puerto's concession to operate Piedra del Águila Hydroelectric Complex for one more year. The decree also stated that within 180 days after its issuance date, the Secretary of Energy would call for a national and international public tender looking to grant a new 30 year concession for Comahue hydroelectric plants.
2024年8月12日,官方公报发布了718/2024总统法令,延长Central Puerto对Piedra del Águila水电综合体的运营特许权一年。法令还指出,在发布之日起180天内,能源秘书将召集一次国家和国际公开招标,希望授予Comahue水电厂一个新的30年特许权。
Resolution SE N°233/2024
决议 SE N°233/2024
On August 29th, 2024, the Secretariat of Energy updated remuneration prices for energy and power of generation units not committed in contracts (spot market). The resolution replaced Annexes I to V of Resolution N°193/2024 and increased remuneration values by 5% starting September 1st, 2024.
在2024年8月29日,能源秘书处更新了未在合同中承诺的发电机组的能源和电力补偿价格(现货市场)。该决议取代了第193/2024号决议的附件I至V,并从2024年9月1日起将补偿值提高了5%。
Resolution SE N°285/2024
SE第285/2024号决议
On September 27th, 2024, the Secretariat of Energy updated remuneration prices for energy and power of generation units not committed in a PPA (spot market). This resolution replaced Annexes I to V of Resolution N°233/2024 and established a 2,7% increase in remuneration values effective from October 1st, 2024.
在2024年9月27日,能源秘书处更新了未在PPA中承诺的发电机组的能源和电力补偿价格(现货市场)。该决议取代了第233/2024号决议的附件I至V,并设立了自2024年10月1日起生效的2.7%的补偿值增长。
Resolution SE N°294/2024
SE第294/2024号决议
On October 1st, 2024, the Secretariat of Energy published Resolution N°294 in the Official Gazette, establishing a contingency plan for the electricity sector aiming to mitigate possible critical situations ("Contingency Plan for critical months of the period 2024/2026"). The plan covers the period December 2024 - March 2026 and states action plans for generation, transmission and distribution, as well as for large users demand. Regarding generation, an "additional, complementary and exceptional" remuneration for power and energy is stablished, with the aim of ensuring the availability of equipment in critical months and hours. The scheme is for thermal power plants located in critical nodes that do not have MEM supply contracts (PPAs) and that have not adhered to Resolution 59/23 (for combined cycles). Generators included in this universe are invited to adhere to a "Power Availability Commitment and Reliability Improvement" (the Commitment). The Commitment establishes an Availability Price Agreement (USD/MW 2,000) that is affected by a node criticality factor, which can vary between 0.75 and 1.25, being the final remuneration obtained by the generator affected by the real availability of the generation units.
在2024年10月1日,能源秘书处在官方公报上发布了第294号决议,建立了电力行业的应急计划,旨在缓解可能的危急情况("应急计划针对2024/2026年期间的关键月份")。该计划覆盖了2024年12月至2026年3月,并制定了发电、输电和配电的行动计划,以及大型用户需求。关于发电,规定了对电力和能源的"额外、补充和例外"补偿,旨在确保在关键月份和时段设备的可用性。该方案适用于位于关键节点的热电厂,这些热电厂没有MEm供应合同(PPAs),也没有遵循第59/23号决议(适用于联合循环)。该范围内的发电机被邀请参加"电力可用性承诺和可靠性提升"(承诺)。该承诺规定了一个可用性价格协议(USD/MW 2,000),受到节点关键性因素的影响,该因素可以在0.75到1.25之间变化,发电机实际获得的最终补偿受到发电机组实际可用性的影响。
The units belonging to the Group that are eligible to adhere to this resolution are the steam turbines located in Buenos Aires and Luján de Cuyo, the gas turbines located in Luján de Cuyo and the Brigadier López thermal power plant. For Central Puerto, the additional remuneration varies from USD/MW 2,000 to USD/MW 2,500 depending on months and units considered.
符合该决议的集团单位包括位于布宜诺斯艾利斯和卢哈恩德库约的蒸汽涡轮机,位于卢哈恩德库约的燃气涡轮机,以及布里嘉迪尔·洛佩斯热电厂。对于Central Puerto,额外补偿从USD/MW 2,000到USD/MW 2,500不等,具体取决于考虑的月份和单位。
Resolution SE N°20/2024
决议 SE N°20/2024
On November 1st, 2024, the Secretariat of Energy and Mining published Resolution N°20/2024 in the Official Gazette. This resolution updated the remuneration values for power and energy generation of units not committed in contracts. It replaced Annexes I to V of Resolution N°285/2024 and established a 6% increase in remuneration values effective from November 1st, 2024.
2024年11月1日,能源和矿业秘书处在官方公报上发布了第20/2024号决议。此项决议更新了未签约单位的电力和能源生产报酬值。它替代了第285/2024号决议的附录I至V,并从2024年11月1日起设定了6%的报酬值增长。
Dividend Payment
分红派息
The Board of Directors of Central Puerto S.A. has decided to pay Dividends, distributing $39.47 per share.
Central Puerto S.A.董事会已决定支付分红,每股分配39.47美元指数。
Investment projects currently in execution: San Carlos solar farm and Brigadier Lopez Combined Cycle
当前正在执行的投资项目:圣卡洛斯太阳能农场和布里加迪尔·洛佩斯联合循环。
Both projects are on schedule and on budget. The works are being carried out as planned and at a good pace, without setbacks. The solar farm is expected to be completed by the second quarter of 2025 whereas the combined cycle COD is planned for the fourth quarter of 2025.
这两个项目都按计划进行且预算正常。工程按计划在良好的节奏下进行,没有出现任何挫折。太阳能农场预计将于2025年第二季度完成,而联合循环的商业运营日期定于2025年第四季度。
B. Argentine Market Overview
b. 阿根廷市场概况
The table below sets forth key Argentine energy market data for 3Q24 compared to 2Q24 and 3Q23.
下表列出了与2024年第二季度和2023年第三季度相比的阿根廷能源市场关键数据。
3Q24 | 2Q24 | 3Q23 |
Δ % 3Q24/ 3Q23 |
9M24 | 9M23 |
Δ % 9M24/ 9M23 |
|
Installed capacity (MW; EoP1) | 42,919 | 43,602 | 43,452 | (1%) | 42,919 | 43,452 | (1%) |
Thermal | 25,165 | 25,115 | 25,405 | (1%) | 25,165 | 25,405 | (1%) |
Hydro | 9,639 | 10,834 | 10,834 | (11%) | 9,639 | 10,834 | (11%) |
Nuclear | 1,755 | 1,755 | 1,755 | 0% | 1,755 | 1,755 | 0% |
Renewable | 6,360 | 5,898 | 5,458 | 17% | 6,360 | 5,458 | 17% |
Installed capacity (%) | 100% | 100% | 100% | N/A | 100% | 100% | N/A |
Thermal | 59% | 58% | 58% | 0 p.p. | 59% | 58% | 1 p.p. |
Hydro | 22% | 25% | 25% | (2 p.p.) | 22% | 25% | (3 p.p.) |
Nuclear | 4% | 4% | 4% | 0 p.p. | 4% | 4% | 1 p.p. |
Renewable | 15% | 14% | 13% | 2 p.p. | 15% | 13% | 3 p.p. |
Energy Generation (GWh) | 34,888 | 33,811 | 35,861 | (3%) | 107,986 | 106,536 | 1% |
Thermal | 18,782 | 17,620 | 16,557 | 13% | 57,757 | 58,852 | (2%) |
Hydro | 8,017 | 7,839 | 12,026 | (33%) | 24,912 | 27,218 | (8%) |
Nuclear | 2,378 | 3,373 | 2,233 | 6% | 8,977 | 6,152 | 46% |
Renewable | 5,711 | 4,979 | 5,045 | 13% | 16,340 | 14,314 | 14% |
Energy Generation (%) | 100% | 100% | 100% | N/A | 100% | 100% | N/A |
Thermal | 54% | 52% | 46% | 7 p.p. | 53% | 55% | (2 p.p.) |
Hydro | 23% | 23% | 34% | (10 p.p.) | 23% | 26% | (3 p.p.) |
Nuclear | 7% | 10% | 6% | 0 p.p. | 8% | 6% | 3 p.p. |
Renewable | 16% | 15% | 14% | 2 p.p. | 15% | 13% | 2 p.p. |
Energy Demand (GWh) | 35,635 | 33,444 | 35,195 | 1% | 106,977 | 107,626 | (1%) |
Residential | 17,139 | 15,630 | 16,673 | 3% | 51,083 | 50,581 | 1% |
Commercial | 9,316 | 9,026 | 9,459 | (2%) | 28,771 | 29,352 | (2%) |
Major Demand (Industrial/Commercial) | 9,180 | 8,788 | 9,063 | 1% | 27,123 | 27,693 | (2%) |
Energy Demand (%) | 100% | 100% | 100% | N/A | 100% | 100% | N/A |
Residential | 48% | 47% | 47% | 0 p.p. | 48% | 47% | 1 p.p. |
Commercial | 26% | 27% | 27% | (0 p.p.) | 27% | 27% | (1 p.p.) |
Major Demand (Industrial/Commercial) | 26% | 26% | 26% | 0 p.p. | 25% | 26% | (1 p.p.) |
2024年第三季度 | 2024年第二季度 | 2023年第三季度 | Δ % 2024年第三季度/ 2023年第三季度 |
2024年前九个月 | 2023年前九个月 | Δ % 9M24/ 2023年前九个月 |
|
已安装容量(MW;年末1) | 42,919 | 43,602 | 43,452 | (1%) | 42,919 | 43,452 | (1%) |
热能 | 25,165 | 25,115 | 25,405 | (1%) | 25,165 | 25,405 | (1%) |
水电 | 9,639 | 10,834 | 10,834 | (11%) | 9,639 | 10,834 | (11%) |
核能 | 1,755 | 1,755 | 1,755 | 0% | 1,755 | 1,755 | 0% |
可再生 | 6,360 | 5,898 | 5,458 | 17% | 6,360 | 5,458 | 17% |
装机容量(百分比) | 100% | 100% | 100% | 不适用 | 100% | 100% | 不适用 |
热能 | 59% | 58% | 58% | 0个百分点 | 59% | 58% | 1个百分点。 |
水电 | 22% | 25% | 25% | (2个百分点)。 | 22% | 25% | (3个百分点) |
核能 | 4% | 4% | 4% | 0个百分点 | 4% | 4% | 1个百分点。 |
可再生 | 15% | 14% | 13% | 2百分点。 | 15% | 13% | 3个百分点 |
能源生成(千瓦时) | 34,888 | 33,811 | 35,861 | (3%) | 107,986 | 106,536 | 1% |
热能 | 18,782 | 17,620 | 16,557 | 13% | 57,757 | 58,852 | (2%) |
水电 | 8,017 | 7,839 | 12,026 | (33%) | 24,912 | 27,218 | (8%) |
核能 | 2,378 | 3,373 | 2,233 | 6% | 8,977 | 6,152 | 46% |
可再生 | 5,711 | 4,979 | 5,045 | 13% | 16,340 | 14,314 | 14% |
能源产生(%) | 100% | 100% | 100% | 不适用 | 100% | 100% | 不适用 |
热能 | 54% | 52% | 46% | 7个百分点 | 53% | 55% | (2个百分点)。 |
水电 | 23% | 23% | 34% | (10个百分点) | 23% | 26% | (3个百分点) |
核能 | 7% | 10% | 6% | 0个百分点 | 8% | 6% | 3个百分点 |
可再生 | 16% | 15% | 14% | 2百分点。 | 15% | 13% | 2百分点。 |
能源需求(GWh) | 35,635 | 33,444 | 35,195 | 1% | 106,977 | 107,626 | (1%) |
住宅 | 17,139 | 15,630 | 16,673 | 3% | 51,083 | 50,581 | 1% |
商业 | 9,316 | 9,026 | 9,459 | (2%) | 28,771 | 29,352 | (2%) |
主要需求(行业/商业) | 9,180 | 8,788 | 9,063 | 1% | 27,123 | 27,693 | (2%) |
能源需求(%) | 100% | 100% | 100% | 不适用 | 100% | 100% | 不适用 |
住宅 | 48% | 47% | 47% | 0个百分点 | 48% | 47% | 1个百分点。 |
商业 | 26% | 27% | 27% | (0百分点) | 27% | 27% | (1个百分点) |
主要需求(行业/商业) | 26% | 26% | 26% | 0个百分点 | 25% | 26% | (1个百分点) |
Source: CAMMESA; company data. Figures are rounded.
来源:CAMMESA;公司数据。数字经过四舍五入。
(1) As of September 30th, 2024.
(1) 截至2024年9月30日。
Installed Power Generation Capacity: By the end of the third quarter of 2024 (3Q24), the country's installed capacity reached 42,919 MW, which means a decrease of 1% (or 533 MW) compared to the 43,452 MW recorded as of September 30th, 2023. The variation results from the installation of new power facilities, a reduction in installed capacity and adjustments to the actual installed capacity of certain machines. The contraction of 533 MW is decomposed as follows: (i) +902 MW of renewable sources, of which +621 MW corresponds to wind farms (271 MW of new plants installed during the 3Q24), +273 MW to solar plants (76 MW of new capacity installed during the 3Q24) and +8 MW to biogas power plants; (ii) a reduction of 1,195 MW in hydraulic sources and (iii) a net decrease of 240 MW in thermal sources, where (295 MW) corresponds to gas turbines, (470 MW) to steam turbines and (99 MW) to diesel engines, being all partially offset by +624 MW in combined cycles. The decline of 1,195 MW in hydro installed capacity is basically explained by a reassessment of Yacyretá's power available for Argentina and Paraguay. Since August 2024, 50% of Yacyreta's installed capacity is allocated to Argentina, whereas it used to be approximately 88% before then.
发电装机容量:截至2024年第三季度末(3Q24),我国的装机容量达到了42,919 MW,较2023年9月30日记录的43,452 MW下降了1%(或533 MW)。这一变化源于新电力设施的安装、装机容量的减少以及对某些机器实际装机容量的调整。533 MW的减少分解如下: (i) 可再生能源增加902 MW,其中风电场贡献621 MW(3Q24期间新增装机271 MW),太阳能电站273 MW(3Q24期间新增装机76 MW)和生物气电站8 MW; (ii) 水力源减少1,195 MW, (iii) 热力源净减少240 MW,其中(295 MW)为燃气涡轮,(470 MW)为蒸汽涡轮,以及(99 MW)为柴油机,所有这些部分被复合循环的624 MW所抵消。水力装机容量减少1,195 MW的主要原因是对雅西雷塔用于阿根廷和巴拉圭的可用电力进行了重新评估。自2024年8月以来,雅西雷塔的50%装机容量分配给阿根廷,而此前大约为88%。
Power generation & demand: During the 3Q24, energy demand increased 1% to 35,635 GWh compared to 35,195 GWh recorded during the 3Q23, which is basically explained by a rise in residential consumption due to weather conditions. Colder temperatures during July and August of this year vis-à-vis same months of 2023 prompted higher retail consumption, which shrank in September as a result of milder temperatures compared to equal month of 2023. End to end, residential consumption rose 3%. With regards to major demand, a slightly higher consumption was recorded, specially for wholesale major demand, which was boosted by stronger economic activity. The trend is similar to residential pattern: positive YoY growth rates during July and August then decreasing in September.
发电与需求:在3Q24期间,能源需求同比增长1%,达到了35,635 GWh,相比于3Q23记录的35,195 GWh,主要是由于天气条件引起的居民消费上升。今年7月和8月较2023年同月的较低温度促使了更高的零售消费,而在9月由于与2023年同月相比的温和气温消费有所减少。整体来看,居民消费增长了3%。至于主要需求,特别是批发主要需求,消费略有增加,这得益于经济活动的加强。这一趋势与居民模式相似:在7月和8月期间显示出正的同比增长率,随后在9月减少。
On the other hand, generation decreased 3% during the quarter on a year-over-year (YoY) basis. The decrease was driven by hydro generation (-33%). Renewable and thermal generation both rose 13%, and nuclear generation grew 7%.
另一方面,发电量在季度内同比下降了3%。下降的主要原因是水力发电减少(-33%)。可再生能源和热能发电均增长了13%,而核能发电增长了7%。
Hydro generation shrank due to a combination of two factors: i) the aforementioned change in the allocation of Yacyretá's installed capacity and energy generation upon Paraguay's claim and ii) a reduction of river flows. In this regard, the contraction was as follows: 60% in Neuquén River, 55% in the Collón Curá River, 38% in the Limay River, 26% in the Uruguay River and 22% in the Paraná River. As it was previously stated, Paraguay historically consumed a smaller portion of the energy produced at Yacyretá: while this country took only 15% of the generated energy in 2023, this year it started to take its full 50% share, leaving Argentina with a smaller portion of the generated energy.
水力发电的减少是由于两个因素的综合影响:一是上文提到的关于巴拉圭声索后Yacyretá的装机容量和电能生成分配的变化;二是河流流量的减少。在这方面,收缩情况如下:Neuquén河减少60%,Collón Curá河减少55%,Limay河减少38%,乌拉圭河减少26%, Paraná河减少22%。正如前面所述,巴拉圭历史上消耗的Yacyretá生产的能源份额较小:在2023年,该国仅占生成能量的15%,而今年开始获得50%的份额,使阿根廷的生成能源份额减少。
Nuclear supply growth 7% basically as a result of higher availability and generation of Atucha II. This performance was partially offset by Embalse Power Plant, which entered into maintenance shutdown in September and resumed operations in October.
核电供应增长7%,主要得益于Atucha II的可用性和发电量提高。这一表现部分被Embalse发电厂所抵消,该发电厂于9月开始维护停产,并在10月恢复运行。
The increase in energy generation from renewable sources was driven mainly by the impact of new installed capacity.
可再生能源发电的增长主要是由于新装机容量的影响。
Finally, there was an increase in thermal generation to cope with higher energy demand. Despite the slight decrease in availability (71% on average during the 3Q24 vs 73% on average during the same period of 2023), generation rose 13% YoY. The growth in thermal generation led to higher fuel consumption: 66% of gas oil, 9% of natural gas and 3% fuel oil. The breakdown of availability levels shows that combined cycles figures increased 4%, from 90% to 94%, while gas and steam turbines decreased 4%, from 61% to 57%.
最后,热能发电的增加是为了应对更高的能源需求。尽管可用性略有下降(2024年第三季度平均为71%,而2023年同期平均为73%),但同比发电量增长了13%。热能发电的增长导致燃料消耗提高:66%的燃油,9%的天然气和3%的重油。可用性水平的分解显示,联合循环的数字增加了4%,从90%升至94%,而燃气和蒸汽涡轮机则减少了4%,从61%降至57%。
Additionally, the electricity trade balance resulted in a net import situation during the whole quarter, with a peak in August: YoY, net import values were 32% higher in July and 339% higher in August while it was significantly reduced in September.
此外,电力贸易平衡在整个季度内导致了净进口状态,8月达到峰值:同比,7月的净进口值比上年增长了32%,而8月增长了339%,9月则大幅减少。
Energy Demand per type
(TWh)
能源需求按类型
(TWh)
Local energy Demand
(TWh)
本地能源需求
(TWh)
C. Central Puerto S.A.: Main operating metrics
C. Central Puerto S.A.: 主要运营指标
The table below sets forth key operating metrics of the Central Puerto group for 3Q24, compared to 2Q24 and 3Q23:
下表列出了Central Puerto集团在2023年第3季度的主要运营指标,与2023年第2季度和第3季度相比:
3Q24 | 2Q24 | 3Q23 |
Δ % 3Q24/ 3Q23 |
9M24 | 9M23 | Δ % 9M24/ 9M23 |
|
Energy Generation (GWh) | 5,685 | 4,985 | 5,721 | (1%) | 16,189 | 15,605 | 4% |
Thermal | 3,832 | 3,604 | 3,166 | 21% | 11,709 | 10,966 | 7% |
Hydro | 1,405 | 978 | 2,151 | (35%) | 3,190 | 3,502 | (9%) |
Wind | 386 | 354 | 404 | (4%) | 1,099 | 1,137 | (3%) |
Solar | 61 | 48 | - | N/A | 192 | - | N/A |
Installed capacity (MW) | 6,703(1) | 6,703(1) | 7,113 | (6%) | 6,703 | 7,113 | (6%) |
Thermal | 4,783 | 4,783 | 5,298 | (10%) | 4,783 | 5,298 | (10%) |
Hydro | 1,441 | 1,441 | 1,441 | 0% | 1,441 | 1,441 | 0% |
Wind | 374 | 374 | 374 | 0% | 374 | 374 | 0% |
Solar | 105 | 105 | - | N/A | 105 | - | N/A |
Thermal availability | |||||||
Central Puerto CC | 91% | 94% | 85% | 6% | 86% | 83% | 3% |
Central Puerto turbines | 72% | 72% | 76% | (4%) | 86% | 83% | 3% |
Steam production (Ktn) | 880 | 600 | 498 | 77% | 2,206 | 1,586 | 39% |
2024年第三季度 | 2024年第二季度 | 2023年第三季度 | Δ % 2024年第三季度/ 2023年第三季度 |
2024年前九个月 | 2023年前九个月 | Δ % 9M24/ 2023年前九个月 |
|
能源生成(千瓦时) | 5,685 | 4,985 | 5,721 | (1%) | 16,189 | 15,605 | 4% |
热能 | 3,832 | 3,604 | 3,166 | 21% | 11,709 | 10,966 | 7% |
水电 | 1,405 | 978 | 2,151 | (35%) | 3,190 | 3,502 | (9%) |
风 | 386 | 354 | 404 | (4%) | 1,099 | 1,137 | (3%) |
太阳能 | 61 | 48 | - | 不适用 | 192 | - | 不适用 |
装机容量(MW) | 6,703(1) | 6,703(1) | 7,113 | (6%) | 6,703 | 7,113 | (6%) |
热能 | 4,783 | 4,783 | 5,298 | (10%) | 4,783 | 5,298 | (10%) |
水电 | 1,441 | 1,441 | 1,441 | 0% | 1,441 | 1,441 | 0% |
风 | 374 | 374 | 374 | 0% | 374 | 374 | 0% |
太阳能 | 105 | 105 | - | 不适用 | 105 | - | 不适用 |
热能可用性 | |||||||
Central Puerto CC | 91% | 94% | 85% | 6% | 86% | 83% | 3% |
Central Puerto 涡轮机 | 72% | 72% | 76% | (4%) | 86% | 83% | 3% |
蒸汽生产 (Ktn) | 880 | 600 | 498 | 77% | 2,206 | 1,586 | 39% |
Source: CAMMESA; company data.
来源:CAMMESA;公司数据。
Thermal availability(1)
(%)
热能可用性(1)
(%)
Steam & gas turbines
蒸汽和燃气涡轮
Combined Cycles
联合循环
(1) Availability weighted average by power capacity. Off-time due to scheduled maintenance agreed with CAMMESA is not considered in the ratio.
(1) 根据发电能力加权的可用性平均值。与CAMMESA约定的计划维护导致的停机时间不计入此比例。
During 3Q24, Central Puerto's power generation slightly decreased 1% to 5,685 GWh, compared to 5,721 GWh in 3Q23.
在2024年第三季度,Central Puerto的发电量略微下降1%,降至5,685 GWh,而2023年第三季度为5,721 GWh。
This minor decline was influenced by various factors across different energy sources.
这一小幅下降受到不同能源来源中多种因素的影响。
Hydro energy generation from Piedra del Aguila drop 35%, reaching 1,405 GWh from 2,151 GWh in 3Q23. This decline was primarily due to a 55% reduction in water levels of the Collón Curá River, which resulted in lower availability of water for generation.
来自Piedra del Aguila的水能发电下降35%,从2023年第三季度的2,151 GWh降至1,405 GWh。这一下降主要是由于Collón Curá河水位降低了55%,导致可用于发电的水量减少。
Regarding renewable generation, there are mixed results. Wind generation decreased 4%, reaching 386 GWh in 3Q24 compared to 404 GWh in the same period of 2023. This decline was mainly due to lower wind resource and also to some maintenance works, including those performed in several blades of La Castellana II, which were damaged by a storm in December 2023. On the other hand, solar energy generation reached 61 GWh in 3Q24 with full impact during the quarter since there is no comparable data for 3Q23.
关于可再生能源的发电,结果参差不齐。风能发电下降4%,在2024年第三季度达到386 GWh,而2023年同一时期为404 GWh。这一下降主要是由于风资源较低以及一些进行中的维护工作,包括在2023年12月因风暴损坏的La Castellana II的几个叶片。此外,2024年第三季度的太阳能发电量达到了61 GWh,该季度的影响完全体现,因为缺乏2023年第三季度的可比数据。
Thermal generation increased 21% during 3Q24 compared to 3Q23, reaching 3,832 GWh from 3,166 GWh. The growth was mainly due to higher dispatch of some units at Puerto site and higher availability and dispatch at Costanera site. Cogeneration units in Luján de Cuyo and Brigadier Lopez open cycle also had higher availability and dispatch.
与2023年第三季度相比,热能发电在2024年第三季度增长了21%,从3,166 GWh增至3,832 GWh。增长主要是由于Puerto现场一些单位的调度增加以及Costanera现场的可用性和调度增加。在Luján de Cuyo和Brigadier Lopez的开放循环的联合发电单元也提高了可用性和调度。
Finally, steam production rose 77% during 3Q24, reaching 880 thousands of tons compared to 498 in 3Q23. This growth was driven by a 124% rise at San Lorenzo cogeneration plant and a 25% growth at Lujan de Cuyo facility. The surge at Lujan de Cuyo was primarily due to higher availability of gas turbines, following the completion of a maintenance program in mid-2023, and increased demand from YPF. A higher demand from San Lorenzo's client was also recorded.
最后,蒸汽生产在2024年第三季度上升了77%,达到88万吨,而在2023年第三季度为498吨。这一增长是由于San Lorenzo联合发电厂的产量增加了124%,而Lujan de Cuyo设施的产量增长了25%。Lujan de Cuyo的激增主要是由于燃气轮机的可用性提高,因在2023年中期完成了一项维护计划,以及YPF的需求增加。同时,San Lorenzo的客户需求也有所增加。
D. 3Q24 Analysis of Consolidated Results
D. 2024年第三季度合并结果分析
Important notice: The results presented for the 3Q24 are positively or negatively affected, as appropriate, by a non-cash effect, given by the fact that inflation rates were greater than currency depreciation rates during the quarter. Since the functional currency of Central Puerto is the Argentine peso, our Financial Statements are subject to inflation adjustment, while Company's figures are converted into US dollars using the end of period official exchange rate. Thus, given the significant disparity between inflation and devaluation for the period, it might affect comparability.
重要通知:2024年第三季度呈现的结果受到非现金效应的正面或负面影响,具体情况取决于通货膨胀率高于该季度货币贬值率。由于Central Puerto的功能货币为阿根廷比索,我们的基本报表受到通货膨胀调整的影响,而公司的数据则在期末官方汇率下转换为美元。因此,鉴于该期间通货膨胀与贬值之间的重大差异,可能会影响可比性。
Main financial magnitudes of continuing operations (1) (2) (3)
持续经营的主要财务指标 (1) (2) (3)
Main Financial Figures (unaudited figures in US$ millions) | 3Q24 | 2Q24 | 3Q23 |
% 3Q24/ 3Q23 | 9M24 | 9M23 |
% 9M24/ 9M23 |
Revenues | 185 | 168 | 162 | 14% | 504 | 439 | 15% |
Operating Income | 78 | 46 | 143 | (45%) | 208 | 328 | (36%) |
EBITDA | 103 | 71 | 174 | (41%) | 285 | 420 | (32%) |
Adjusted EBITDA | 93 | 46 | 93 | 1% | 223 | 233 | (4%) |
Net Income | 40 | 8 | 20 | 100% | 80 | 37 | 112% |
FONI trade receivables | 211 | 238 | 269 | (22%) | 211 | 269 | (22%) |
Total Debt | 395 | 387 | 352 | 12% | 395 | 352 | 12% |
主要财务数据 (未经审计的数据,以百万美元计) | 2024年第三季度 | 2024年第二季度 | 2023年第三季度 | % 2024年第三季度/ 2023年第三季度 | 2024年前九个月 | 2023年前九个月 | % 9M24/ 2023年前九个月 |
营业收入 | 185 | 168 | 162 | 14% | 504 | 439 | 15% |
营业收入 | 78 | 46 | 143 | (45%) | 208 | 328 | (36%) |
息税折旧摊销前利润 | 103 | 71 | 174 | (41%) | 285 | 420 | (32%) |
调整后的EBITDA | 93 | 46 | 93 | 1% | 223 | 233 | (4%) |
净利润 | 40 | 8 | 20 | 100% | 80 | 37 | 112% |
FONI 应收账款 | 211 | 238 | 269 | (22%) | 211 | 269 | (22%) |
总债务 | 395 | 387 | 352 | 12% | 395 | 352 | 12% |
(1) The FX rate used to convert Argentine Pesos to U.S. dollars is the reference exchange rate reported by the Central Bank (Communication "A" 3500) as of 9/30/2024 (AR$970.92 to US$1.00), 6/30/2024 (AR$911.75 to US$1.00), and 9/30/2023 (AR$350.01 to US$1.00), as appropriate.
(1) 将阿根廷比索转换为美元的汇率是由中央银行(通知 "A" 3500)报告的参考汇率,截至2024年9月30日(每美元970.92阿根廷比索),2024年6月30日(每美元911.75阿根廷比索),以及2023年9月30日(每美元350.01阿根廷比索),视情况而定。
(2) See "Disclaimer-EBITDA & Adjusted EBITDA" on page 25 for further information.
(2) 请参阅第25页的"免责声明- EBITDA & 调整后EBITDA"以获取更多信息。
(3) Central Costanera revenues are not affected by COSTTV04 and COSTTV06 disconnection.
(3) Central Costanera的收入不受COSTTV04和COSTTV06断开连接的影响。
During 3Q24, revenues totaled US$185 million, increasing 14% or US$23 million compared to US$162 million in 3Q23.
在2024年第三季度,收入总计18500万美元,比2023年第三季度的16200万美元增长了14%或2300万美元。
Revenue breakdown by type (unaudited figures in US$ Millions) | 3Q24 | 2Q24 | 3Q23 |
% 3Q24/ 3Q23 | 9M24 | 9M23 |
% 9M24/ 9M23 |
Revenues | 185 | 168 | 162 | 14% | 504 | 439 | 15% |
Spot market revenues | 93 | 81 | 83 | 11% | 247 | 218 | 13% |
Sales under contracts | 71 | 66 | 64 | 12% | 202 | 181 | 12% |
Steam sales | 12 | 10 | 8 | 41% | 28 | 22 | 29% |
Forestry activity revenues | 6 | 5 | 4 | 60% | 15 | 8 | 94% |
Resale of gas transport and distribution capacity | 2 | 2 | 1 | 81% | 4 | 3 | 42% |
Revenues from CVO thermal plant management | 2 | 4 | 2 | 12% | 8 | 7 | 7% |
按类型划分的收入 (未经审计的数字,单位:百万美元) | 2024年第三季度 | 2024年第二季度 | 2023年第三季度 | % 2024年第三季度/ 2023年第三季度 | 2024年前九个月 | 2023年前九个月 | % 9M24/ 2023年前九个月 |
营业收入 | 185 | 168 | 162 | 14% | 504 | 439 | 15% |
现货市场营业收入 | 93 | 81 | 83 | 11% | 247 | 218 | 13% |
合同下的销售 | 71 | 66 | 64 | 12% | 202 | 181 | 12% |
Steam 销售 | 12 | 10 | 8 | 41% | 28 | 22 | 29% |
林业活动收入 | 6 | 5 | 4 | 60% | 15 | 8 | 94% |
燃气运输和分配能力的再出售 | 2 | 2 | 1 | 81% | 4 | 3 | 42% |
来自CVO热电厂管理的营业收入 | 2 | 4 | 2 | 12% | 8 | 7 | 7% |
This was mainly due to a combination of:
这主要是由于以下几个因素的综合作用:
- An 11% or US$10 million increase in spot market revenues, which amounted to US$93 million in 3Q24 compared to US$83 million in 3Q23, driven by:
- A cash effect on the gap between currency devaluation and spot remuneration increases.
- Higher thermal generation (specially in Brigadier Lopez, Puerto and Costanera sites).
- Higher availability of thermal units (specially in Costanera site and Brigadier Lopez).
- Non-cash effect on the gap between currency devaluation and inflation.
- A 12% or US$7 million increase in sales under contracts, which totaled US$71 million in 3Q24 compared to US$64 million in 3Q23, driven by:
- The solar farm acquired in Oct-23 (Guañizuil II).
- Higher availability and energy sales of cogeneration units (Luján de Cuyo and San Lorenzo plants).
- A non-cash effect on the gap between currency devaluation and inflation.
- Being all partially offset by lower wind generation (mainly due to extraordinary maintenance in some blades of La Castellana II).
- A 41% or US$4 million increase in steam sales, driven by higher steam production in both Luján de Cuyo and San Lorenzo facilities, as a consequence of higher demand from clients.
- A 60% or US$2 million increase in forestry activity revenues.
- An 81% or US$1 million increase in resale of gas transport and distribution capacity revenues.
- 现货市场营业收入增加了11%或1000万美元,2024年第三季度达到了9300万美元,而2023年第三季度为8300万美元,主要受以下因素推动:
- 货币贬值与现货报酬增加之间差距的现金效应。
- 更高的热电生成(特别是在Brigadier Lopez、Puerto和Costanera站点)。
- 热电单位的可用性更高(特别是在Costanera站点和Brigadier Lopez)。
- 货币贬值与通货膨胀之间差距的非现金效应。
- 销售合同下的营业收入增加了12%或700万美元,2024年第三季度总计为7100万美元,而2023年第三季度为6400万美元,主要受以下因素推动:
- 在2023年10月收购的太阳能农场(Guañizuil II)。
- 热电联产单元(Luján de Cuyo和San Lorenzo工厂)更高的可用性和电能销售。
- 货币贬值与通货膨胀之间差距的非现金影响。
- 所有这一切部分被降低的风力发电抵消(主要由于La Castellana II的一些叶片进行的超常维护)。
- 蒸汽销售增加了41%或400万美元,主要受益于Luján de Cuyo和San Lorenzo设施蒸汽生产的增加,原因是客户需求提高。
- 林业活动收入增加了60%或200万美元。
- 气体运输和分配能力的转售收入增加了81%或100万美元。
Operating cost, excluding depreciation and amortization, in 3Q24 amounted to US$61 million, increasing 1% or US$1 million when compared to US$60 million in 3Q23.
除折旧与摊销外,2024年第三季度的营业费用为6100万美元,与2023年第三季度的6000万美元相比增加了1%或100万美元。
Production costs increased primarily due to a rise in: (i) insurance and compensation to employees, being both mostly impacted by the real appreciation of the Argentine Peso On the other hand, production costs were also negatively impacted by a non-cash effect on the gap between currency devaluation and inflation.
生产成本的增加主要是由于:(i) 保险费和雇员补偿的上升,前者主要受到阿根廷比索实际升值的影响。此外,生产成本还受到货币贬值与通货膨胀之间差距的非现金影响的负面影响。
SG&A, excluding depreciations and amortizations, increased 20% or US$3 million to US$16 million from US$14 million in 3Q23.
不包括折旧和摊销的SG&A费用在2023年第三季度增加了20%,即300万美元,从1400万美元增至1600万美元。
The increase in SG&A during the quarter was mainly due to higher: (i) fees and compensation for services (one-time projects) and (ii) compensation to employees, being both mostly impacted by the real appreciation of the Argentine Peso.
本季度SG&A的增加主要是由于更高的:(i) 服务费用和薪酬(一次性项目)及(ii) 员工补偿,主要受到阿根廷比索实际升值的影响。
Similar to production costs, SG&A were also negatively impacted by a non-cash effect due to the gap between currency devaluation and inflation.
与生产成本类似,SG&A也受到由于货币贬值与通货膨胀之间差距造成的非现金影响。
Other operating results net in 3Q24 were positive in US$20 million, diminishing 79% or US$75 million compared to 3Q23.
2024年第三季度的其他营业结果净额为2000万美元,较2023年第三季度减少79%,即7500万美元。
This is mainly explained by lower (i) interest from clients, due to lower CAMMESA delays and (ii) FX differences (income).
这主要是由于较低的(i) 客户利息,因CAMMESA延迟减少,以及(ii) 外汇差异(收入)。
Additionally, there was a negative non-cash effect due to the gap between currency devaluation and inflation.
此外,由于货币贬值与通货膨胀之间的差距,存在负的非现金影响。
Consequently, Consolidated Adjusted EBITDA (1) amounted to US$93 million in 3Q24, compared to US$93 million in 3Q23.
因此,合并调整后EBITDA(1)在2024年第三季度达到9300万美元,较2023年第三季度的9300万美元持平。
Consolidated Net financial results in 3Q24 were negative in US$16 million compared to a loss of US$24 million in 3Q23, which means an improvement of US$8 million. This was mainly driven by lower foreign exchange differences on financial liabilities and lower bank commissions, partially offset by lower interest earned and a reduction in net income on financial assets.
2024年第三季度的合并净财务结果为负1600万美元,而2023年第三季度的损失为2400万美元,改善了800万美元。这主要得益于金融负债上的外汇差异减少和银行手续费降低,部分抵消了利息收入的下降和金融资产净利润的减少。
Loss on net monetary position in 3Q24 measured in US dollars amounted to US$4 million, being 95% lower than the US$84 million loss in 3Q23, driven by the significantly lower inflation rates during 3Q24 vis-à-vis 3Q23.
2024年第三季度以美元计的净货币损失为400万美元,比2023年第三季度的8400万美元损失低了95%,这主要是由于2024年第三季度的通货膨胀率明显低于2023年第三季度。
Profit/Loss on associate companies was positive in US$8 million compared to a US$3 million gain in 3Q23. Additionally, there was a Gain on fair value valuation of acquisitions of US$2 million during 3Q24 as a consequence of the investment made by our subsidiary Proener in AbraSilver Resource Corp in May 2024.
联营公司利润/损失为800万美元,而2023年第三季度为300万美元的收益。此外,由于我们的子公司Proener在2024年5月对AbraSilver Resource Corp的投资,2024年第三季度的收购公允价值评估收益为200万美元。
Income tax in 3Q24 was negative in US$28 million compared to, also negative, US$19 million in 3Q23 due to basically a higher income before tax.
2024年第三季度的所得税为负2800万美元,而2023年第三季度同样为负1900万美元,这主要是由于税前收入的增加。
Finally, Net Income in 3Q24 amounted to US$40 million, compared to US$20 million of 3Q23.
最终,2024年第三季度的净利润为4000万美元,而2023年第三季度为2000万美元。
Adjusted EBITDA Reconciliation (1)
调整后的EBITDA对账(1)
Adj.EBITDA reconciliation (unaudited figures in US$ millions) | 3Q24 | 2Q24 | 3Q23 | 9M24 | 9M23 |
Net income for the period | 40 | 8 | 20 | 80 | 37 |
Result from exposure to the change in purchasing | 4 | 0 | 84 | 10 | 174 |
power of the currency | |||||
Financial expenses | 36 | 39 | 123 | 119 | 282 |
Financial income | (21) | (18) | (99) | (61) | (205) |
Share of the profit of an associate | (8) | (7) | (3) | (12) | (3) |
Gain on fair value valuation of acquisitions | (2) | (1) | 0 | (3) | 0 |
Income tax expenses | 28 | 26 | 19 | 75 | 43 |
Depreciation and amortization | 25 | 25 | 32 | 76 | 93 |
EBITDA | 103 | 71 | 174 | 285 | 420 |
FONI FX Difference and interests and D&A | (15) | (18) | (77) | (51) | (174) |
Biological Assets - Fair value variation | 6 | (7) | (4) | (10) | (14) |
Adjusted EBITDA | 93 | 46 | 93 | 223 | 233 |
调整后的EBITDA对账 (未经审计的数据,以百万美元计) | 2024年第三季度 | 2024年第二季度 | 2023年第三季度 | 2024年前九个月 | 2023年前九个月 |
该期间的净利润 | 40 | 8 | 20 | 80 | 37 |
结果来自于对采购变化的曝光 | 4 | 0 | 84 | 10 | 174 |
货币的力量 | |||||
财务费用 | 36 | 39 | 123 | 119 | 282 |
金融收入 | (21) | (18) | (99) | (61) | (205) |
关联公司利润分成 | (8) | (7) | (3) | (12) | (3) |
收购公允价值评估收益 | (2) | (1) | 0 | (3) | 0 |
所得税费用 | 28 | 26 | 19 | 75 | 43 |
折旧和摊销 | 25 | 25 | 32 | 76 | 93 |
息税折旧摊销前利润 | 103 | 71 | 174 | 285 | 420 |
FONI外汇期货差异与利息及折旧和摊销 | (15) | (18) | (77) | (51) | (174) |
生物资产 - 公允价值变动 | 6 | (7) | (4) | (10) | (14) |
调整后的EBITDA | 93 | 46 | 93 | 223 | 233 |
Financial Situation
财务状况
As of September 30th, 2024, the Company and its subsidiaries had Cash and Cash Equivalents of US$7 million, and Other Current Financial Assets of US$238 million.
截至2024年9月30日,公司及其子公司拥有现金及现金等价物700万美元,以及其他流动金融资产23800万美元。
The following chart breaks down the Net Debt position of Central Puerto (on a stand-alone basis) and its subsidiaries:
以下图表分解了Central Puerto(单独计算)的净债务状况及其子公司:
Million U$S | As of September 30, 2024 |
Cash and cash equivalents (stand-alone) | 3 |
Other current financial assets (stand-alone) | 73 |
Financial Debt (stand-alone) | (129) |
Composed of: | |
Financial Debt (current) (Central Puerto S.A stand-alone) | (11) |
Financial Debt (non-current) (Central Puerto S.A stand-alone) | (117) |
Subtotal Central Puerto stand-alone Net Cash Position | (53) |
Cash and cash equivalents of subsidiaries | 4 |
Other current financial assets of subsidiaries | 165 |
Financial Debt of subsidiaries | (266) |
Composed of: | |
Financial Debt of subsidiaries (current) | (55) |
Financial Debt of subsidiaries (non-current) | (211) |
Subtotal Subsidiaries Net Cash Position | (97) |
Consolidated Net Debt Position | (149) |
百万美元指数 | 截至2024年9月30日 |
现金及现金等价物(单独计算) | 3 |
其他流动金融资产(独立) | 73 |
金融债务(独立) | (129) |
构成: | |
金融债务(流动)(Central Puerto S.A 独立) | (11) |
财务债务(非流动)(Central Puerto S.A 独立) | (117) |
小计 Central Puerto 独立净现金状况 | (53) |
子公司的现金及现金等价物 | 4 |
子公司的其他流动金融资产 | 165 |
子公司的金融债务 | (266) |
构成: | |
子公司的金融债务(流动) | (55) |
子公司的金融债务(非流动) | (211) |
子公司净现金状况小计 | (97) |
合并净债务状况 | (149) |
Cash Flows of 9M24
2024年9月的现金流
Million of US$ | 9M24 |
ended on September 30, 2024 | |
Cash and Cash equivalents at the beginning | 24 |
Net cash flows provided by operating activities | 184 |
Net cash flows used in investing activities | (119) |
Net cash flows used in financing activities | (78) |
Exchange difference and other financial results | 0 |
Results due to exposure to the change in the purchasing | (5) |
power of the currency generated by cash and cash equivalents | |
Cash and Cash equivalents at the end | 7 |
以百万美元计 | 2024年前九个月 |
截至2024年9月30日 | |
期初现金及现金等价物 | 24 |
经营活动产生的净现金流 | 184 |
用于投资活动的净现金流 | (119) |
用于融资活动的净现金流 | (78) |
交易所差额和其他金融结果 | 0 |
由于购买变动而导致的结果 | (5) |
现金及现金等价物产生的货币力量 | |
期末现金及现金等价物 | 7 |
Net cash provided by operating activities was US$184 million during 9M24. This cash flow arises mainly from (i) US$165 million of net income for the period before income tax; (ii) US$30 million in collection of interest from clients; (iii) adjustments to reconcile profit for the period before income tax with net cash flows of US$22 million; and (iv) US$1 million in insurance recovery; partially offset by (v) US$21 million in working capital variations (accounts payables, accounts receivables, inventory, and other non-financial assets and liabilities); and (vi) US$13 million in income tax and other taxes payments.
截至2024年9月,提供的净现金来自营业活动为18400万美元。此现金流主要来自(i)本期税前净利润为16500万美元;(ii)从客户收取的3000万美元利息;(iii)调整以使税前利润与2200万美元的净现金流相匹配;以及(iv)100万美元的保险赔偿;部分抵消(v)2100万美元的营运资本变化(应付账款,应收账款,存货和其他非金融资产及负债);及(vi)1300万美元的所得税及其他税款支付。
Net cash used by investing activities was US$119 million during 9M24. This amount is mainly explained by US$79 million in acquisitions of property, plant, and equipment and inventory and US$49 million in acquisitions of other financial assets, net, being partially offset by US$8 million generated by dividends received and US$1 million from the sale of property, plant, and equipment.
截至2024年9月,投资活动使用的净现金为11900万美元。此金额主要由7900万美元的物业、工厂和设备及存货的收购和4900万美元的其他金融资产的收购所解释,部分抵消由收到的分红产生的800万美元和物业、厂房及设备销售带来的100万美元。
Net cash used by financing activities was US$78 million in the 9M24. This is basically the result of (i) US$107 million in long-term debt repayments; (ii) US$32 million in interest and other long-term debt costs paid; and (iii) US$14 million in dividends paid, being partially offset by (iv) US$61 million in long-term loans received and (v) US$14 million in net overdrafts received.
截至2024年9月,融资活动使用的净现金为7800万美元。这基本上是由于(i)10700万美元的长期债务还款;(ii)3200万美元的利息及其他长期债务成本支付;和(iii)支付的1400万美元分红,部分抵消(iv)收到的6100万美元长期贷款和(v)收到的1400万美元净透支。
The net decrease in cash and cash equivalents was US$12 million. The exchange difference and other financial results was US$0.5 million while the monetary loss on cash and cash equivalents due to the change in purchasing power of the currency was US$4 million. Hence, given that Cash and cash equivalents as of January 1, 2024, was US$24 million, as of September 30, 2024 it ended-up at US$7 million.
现金及现金等价物的净减少为1200万美元。汇率差异及其他金融结果为50万美元,而由于货币购买力变化导致的现金及现金等价物的货币损失为400万美元。因此,考虑到截至2024年1月1日现金及现金等价物为2400万美元,截至2024年9月30日,最终为700万美元。
The following table shows the company's principal maturity profile as of September 30, 2024, expressed in millions of dollars:
下表展示了截至2024年9月30日公司的主要到期结构,以百万美元计:
Debt Maturity schedule(1)(2)
(US$ mm.)
债务到期计划(1)(2)
(美元百万)
(1) As of September 30th, 2024.
(1) 截至2024年9月30日。
(2) Considers only principal maturities. Does not considering accrued interest.
(2) 仅考虑本金到期。未考虑应计利息。
E. Tables
E. 表格
- Consolidated Statement of Income
- 合并损益表
Consolidated Statement of Income and Comprehensive Income (unaudited figures in AR$ millions) | 3Q24 | 2Q24 | 3Q23 | % 3Q24/ 3Q23 | 9M24 | 9M23 | % 9M24/ 9M23 |
Revenues | 179,844 | 172,064 | 175,067 | 3% | 523,031 | 472,360 | 11% |
Cost of Sales | (107,452) | (105,534) | (118,008) | (9%) | (309,808) | (324,704) | (5%) |
Gross Income | 72,393 | 66,530 | 57,059 | 27% | 213,224 | 147,656 | 44% |
Administrative and selling expenses | (16,225) | (13,547) | (15,612) | 4% | (46,962) | (44,207) | 6% |
Other operating income | 18,057 | 29,811 | 109,070 | (83%) | 87,440 | 250,066 | (65%) |
Other operating expenses | 1,626 | (35,697) | (6,306) | (126%) | (34,897) | (10,546) | 231% |
Impairment of property, plant and equipment and intangible assets | - | - | - | n.a | - | - | n.a |
Operating Income | 75,851 | 47,096 | 144,212 | (47%) | 218,805 | 342,970 | (36%) |
Gain (loss) on net monetary position | (4,263) | (21) | (90,416) | (95%) | (10,854) | (187,454) | (94%) |
Financial income | 19,991 | 18,855 | 107,007 | (81%) | 63,647 | 221,012 | (71%) |
Financial costs | (35,247) | (40,317) | (132,699) | (73%) | (124,781) | (303,701) | (59%) |
Share of profit (loss) of associates | 7,719 | 7,644 | 3,528 | 119% | 11,026 | 3,339 | 230% |
Gain (loss) from bargain purchase | 1,859 | 914 | - | n.a | 2,773 | - | n.a |
Income before Income tax | 65,910 | 34,173 | 31,630 | 108% | 160,616 | 76,165 | 111% |
Income tax for the period | (27,312) | (26,279) | (20,205) | 35% | (77,566) | (45,954) | 69% |
Net Income for the period | 38,597 | 7,893 | 11,425 | 238% | 83,050 | 30,211 | 175% |
Total comprehensive Income for the period | 38,597 | 7,893 | 11,425 | 238% | 83,050 | 30,211 | 175% |
Other Integral Results | |||||||
Attributable to: | |||||||
- Equity holders of the parent | 38,136 | 6,739 | 13,874 | 175% | 76,385 | 34,240 | 123% |
- Non-controlling interest | 461 | 1,155 | (2,449) | (119%) | 6,666 | (4,029) | (265%) |
38,597 | 7,893 | 11,425 | 238% | 83,050 | 30,211 | 175% | |
Basic and diluted earnings per share | 25.38 | 25.45 | 9.23 | 175% | 50.83 | 22.77 | 123% |
合并损益及综合收益表 (未经审计的数字,以阿根廷比索百万计) | 2024年第三季度 | 2024年第二季度 | 2023年第三季度 | % 2024年第三季度/ 2023年第三季度 | 2024年前九个月 | 2023年前九个月 | % 9M24/ 2023年前九个月 |
营业收入 | 179,844 | 172,064 | 175,067 | 3% | 523,031 | 472,360 | 11% |
销售成本 | (107,452) | (105,534) | (118,008) | (9%) | (309,808) | (324,704) | (5%) |
毛收入 | 72,393 | 66,530 | 57,059 | 27% | 213,224 | 147,656 | 44% |
行政与销售费用 | (16,225) | (13,547) | (15,612) | 4% | (46,962) | (44,207) | 6% |
其他经营收入 | 18,057 | 29,811 | 109,070 | (83%) | 87,440 | 250,066 | (65%) |
其他营业费用 | 1,626 | (35,697) | (6,306) | (126%) | (34,897) | (10,546) | 231% |
资产、设备和无形资产的减值 | - | - | - | 无 | - | - | 无 |
营业收入 | 75,851 | 47,096 | 144,212 | (47%) | 218,805 | 342,970 | (36%) |
净货币头寸的收益(损失) | (4,263) | (21) | (90,416) | (95%) | (10,854) | (187,454) | (94%) |
金融收入 | 19,991 | 18,855 | 107,007 | (81%) | 63,647 | 221,012 | (71%) |
财务成本 | (35,247) | (40,317) | (132,699) | (73%) | (124,781) | (303,701) | (59%) |
联营公司的利润(损失)份额 | 7,719 | 7,644 | 3,528 | 119% | 11,026 | 3,339 | 230% |
从低价购置中获得的收益(损失) | 1,859 | 914 | - | 无 | 2,773 | - | 无 |
税前收入 | 65,910 | 34,173 | 31,630 | 108% | 160,616 | 76,165 | 111% |
本期所得税 | (27,312) | (26,279) | (20,205) | 35% | (77,566) | (45,954) | 69% |
期间净利润 | 38,597 | 7,893 | 11,425 | 238% | 83,050 | 30,211 | 175% |
本期总体综合收益 | 38,597 | 7,893 | 11,425 | 238% | 83,050 | 30,211 | 175% |
其他整体成果 | |||||||
归因于: | |||||||
- 母公司的股东 | 38,136 | 6,739 | 13,874 | 175% | 76,385 | 34,240 | 123% |
- 非控制性权益 | 461 | 1,155 | (2,449) | (119%) | 6,666 | (4,029) | (265%) |
38,597 | 7,893 | 11,425 | 238% | 83,050 | 30,211 | 175% | |
基本和稀释每股收益 | 25.38 | 25.45 | 9.23 | 175% | 50.83 | 22.77 | 123% |
Consolidated Statement of Income and Comprehensive Income (unaudited figures in US$ Millions) | 3Q24 | 2Q24 | 3Q23 | % 3Q24/ 3Q23 | 9M24 | 9M23 | % 9M24/ 9M23 |
Revenues | 185 | 168 | 162 | 14% | 504 | 439 | 15% |
Cost of Sales | (111) | (103) | (100) | 11% | (299) | (292) | 2% |
Gross Income | 75 | 65 | 62 | 20% | 205 | 146 | 40% |
Administrative and selling expenses | (17) | (13) | (14) | 16% | (45) | (41) | 10% |
Other operating income | 19 | 29 | 101 | (82%) | 82 | 232 | (64%) |
Other operating expenses | 2 | (35) | (6) | (129%) | (34) | (10) | 247% |
Impairment of property, plant and equipment and intangible assets | - | - | - | n.a | - | - | n.a |
Operating Income | 78 | 46 | 143 | (45%) | 208 | 328 | (36%) |
Gain (loss) on net monetary position | (4) | (0) | (84) | (95%) | (10) | (174) | (94%) |
Financial income | 21 | 18 | 99 | (79%) | 61 | 205 | (70%) |
Financial costs | (36) | (39) | (123) | (70%) | (119) | (282) | (58%) |
Share of profit (loss) of associates | 8 | 7 | 3 | 144% | 12 | 3 | 273% |
Gain (loss) from bargain purchase | 2 | 1 | - | n.a | 3 | - | n.a |
Income before Income tax | 68 | 33 | 39 | 76% | 154 | 80 | 93% |
Income tax for the period | (28) | (26) | (19) | 51% | (75) | (43) | 75% |
Net Income for the period | 40 | 8 | 20 | 100% | 80 | 37 | 112% |
Total comprehensive Income for the period | 40 | 8 | 20 | 100% | 80 | 37 | 112% |
Attributable to: | |||||||
- Equity holders of the parent | 39 | 7 | 13 | 206% | 50 | 32 | 58% |
- Non-controlling interest | 0 | 1 | (2) | (121%) | 34 | (4) | (1000%) |
40 | 8 | 11 | 276% | 84 | 28 | 199% | |
Basic and diluted earnings per share | 0.02 | 0.02 | 0.01 | 174% | 0.07 | 0.02 | 231% |
合并损益及综合收益表 (未经审计的数字,单位:百万美元) | 2024年第三季度 | 2024年第二季度 | 2023年第三季度 | % 2024年第三季度/ 2023年第三季度 | 2024年前九个月 | 2023年前九个月 | % 9M24/ 2023年前九个月 |
营业收入 | 185 | 168 | 162 | 14% | 504 | 439 | 15% |
销售成本 | (111) | (103) | (100) | 11% | (299) | (292) | 2% |
毛收入 | 75 | 65 | 62 | 20% | 205 | 146 | 40% |
行政与销售费用 | (17) | (13) | (14) | 16% | (45) | (41) | 10% |
其他经营收入 | 19 | 29 | 101 | (82%) | 82 | 232 | (64%) |
其他营业费用 | 2 | (35) | (6) | (129%) | (34) | (10) | 247% |
资产、设备和无形资产的减值 | - | - | - | 无 | - | - | 无 |
营业收入 | 78 | 46 | 143 | (45%) | 208 | 328 | (36%) |
净货币头寸的收益(损失) | (4) | (0) | (84) | (95%) | (10) | (174) | (94%) |
金融收入 | 21 | 18 | 99 | (79%) | 61 | 205 | (70%) |
财务成本 | (36) | (39) | (123) | (70%) | (119) | (282) | (58%) |
联营公司的利润(损失)份额 | 8 | 7 | 3 | 144% | 12 | 3 | 273% |
从低价购置中获得的收益(损失) | 2 | 1 | - | 无 | 3 | - | 无 |
税前收入 | 68 | 33 | 39 | 76% | 154 | 80 | 93% |
本期所得税 | (28) | (26) | (19) | 51% | (75) | (43) | 75% |
期间净利润 | 40 | 8 | 20 | 100% | 80 | 37 | 112% |
本期总体综合收益 | 40 | 8 | 20 | 100% | 80 | 37 | 112% |
归因于: | |||||||
- 母公司的股东 | 39 | 7 | 13 | 206% | 50 | 32 | 58% |
- 非控制性权益 | 0 | 1 | (2) | (121%) | 34 | (4) | (1000%) |
40 | 8 | 11 | 276% | 84 | 28 | 199% | |
基本和稀释每股收益 | 0.02 | 0.02 | 0.01 | 174% | 0.07 | 0.02 | 231% |
The FX rate used to convert Argentine Pesos to U.S. dollars is the reference exchange rate reported by the Central Bank (Communication "A" 3500) as of 9/30/2024 (AR$970.92 to US$1.00), 6/30/2024 (AR$911.75 to US$1.00), 3/31/2024 (AR$857.42 to US$1.00), and 9/30/2023 (AR$350.01 to US$1.00), as appropriate.
用于将阿根廷比索转换为美元的汇率是中央银行报告的参考汇率(通讯"A" 3500),截至2024年9月30日(阿$970.92兑换美$1.00),2024年6月30日(阿$911.75兑换美$1.00),2024年3月31日(阿$857.42兑换美$1.00),以及2023年9月30日(阿$350.01兑换美$1.00),视情况而定。
- Consolidated Statement of Financial Position
- 合并财务状况表
Consolidated Statement of Financial Position | in AR$ millions | in US$ millions | |||
(unaudited figures) | 9M24 | 12M23 | 9M24 | 12M23 | |
Assets | |||||
Non-current assets | |||||
Property, plant, and equipment | 1,543,745 | 1,529,866 | 1,590 | 939 | |
Intangible assets | 30,075 | 32,164 | 31 | 20 | |
Biological Assets | 190,334 | 179,895 | 196 | 110 | |
Investment in associates | 77,781 | 69,263 | 80 | 42 | |
Inventories | 10,880 | 12,058 | 11 | 7 | |
Other non-financial assets | 2,205 | 613 | 2 | 0 | |
Trade and other receivables | 145,352 | 311,639 | 150 | 191 | |
Other financial assets | 53,914 | 78,094 | 56 | 48 | |
Deferred tax asset | 7,990 | 25,527 | 8 | 16 | |
2,062,277 | 2,239,120 | 2,124 | 1,374 | ||
Current assets | |||||
Biological Assets | 11,983 | 13,624 | 12 | 8 | |
Inventories | 26,625 | 18,021 | 27 | 11 | |
Other non-financial assets | 22,146 | 24,634 | 23 | 15 | |
Trade and other receivables | 211,326 | 325,110 | 218 | 199 | |
Other financial assets | 231,329 | 181,096 | 238 | 111 | |
Cash and cash equivalents | 6,739 | 27,154 | 7 | 17 | |
510,149 | 589,641 | 525 | 362 | ||
Total Assets | 2,572,426 | 2,828,760 | 2,649 | 1,736 | |
Equity and liabilities | |||||
Equity | |||||
Capital stock | 1,514 | 1,514 | 2 | 2 | |
Adjustment to capital stock | 499,297 | 499,297 | 514 | 305 | |
Legal reserve | 98,097 | 83,175 | 101 | 51 | |
Voluntary reserve | 698,087 | 698,087 | 719 | 428 | |
Shareholder Contribution | (37,908) | (45,414) | (39) | (28) | |
Optional reserve for future dividend distribution | 416,731 | 147,801 | 429 | 91 | |
Retained earnings | 77,441 | 298,380 | 80 | 183 | |
Equity attributable to shareholders of the parent | 1,753,259 | 1,682,839 | 1,806 | 1,033 | |
Non-controlling interests | 54,173 | 43,846 | 56 | 27 | |
Total Equity | 1,807,432 | 1,726,685 | 1,862 | 1,059 | |
Non-current liabilities | |||||
Accounts Payable Trade and Other Accounts Payable | 1,269 | - | 1 | - | |
Other non-financial liabilities | 26,214 | 56,600 | 27 | 35 | |
Other loans and borrowings | 318,858 | 577,275 | 328 | 354 | |
Compensation and employee benefits liabilities | 7,009 | 6,671 | 7 | 4 | |
Provisions | 1,168 | 3,899 | 1 | 2 | |
Deferred income tax liabilities | 170,737 | 159,580 | 176 | 98 | |
525,255 | 804,026 | 541 | 493 | ||
Current liabilities | |||||
Trade and other payables | 69,617 | 100,394 | 72 | 62 | |
Other non-financial liabilities | 33,808 | 51,641 | 35 | 32 | |
Other loans and borrowings | 64,298 | 98,393 | 66 | 60 | |
Compensation and employee benefits liabilities | 28,986 | 31,702 | 30 | 19 | |
Income tax payable | 40,413 | 12,646 | 42 | 8 | |
Provisions | 2,615 | 3,274 | 3 | 2 | |
239,738 | 298,050 | 247 | 183 | ||
Total liabilities | 764,993 | 1,102,075 | 788 | 676 | |
Total equity and liabilities | 2,572,426 | 2,828,760 | 2,649 | 1,736 |
合并财务状况表 | 以阿根廷比索计(百万) | 以美元计(百万) | |||
(未经审计的数字) | 2024年前九个月 | 12M23 | 2024年前九个月 | 12M23 | |
资产 | |||||
非流动资产 | |||||
财产、厂房和设备 | 1,543,745 | 1,529,866 | 1,590 | 939 | |
无形资产 | 30,075 | 32,164 | 31 | 20 | |
生物资产 | 190,334 | 179,895 | 196 | 110 | |
对联营公司的投资 | 77,781 | 69,263 | 80 | 42 | |
存货 | 10,880 | 12,058 | 11 | 7 | |
其他非金融资产 | 2,205 | 613 | 2 | 0 | |
交易及其他应收款 | 145,352 | 311,639 | 150 | 191 | |
其他金融资产 | 53,914 | 78,094 | 56 | 48 | |
递延所得税资产 | 7,990 | 25,527 | 8 | 16 | |
2,062,277 | 2,239,120 | 2,124 | 1,374 | ||
流动资产 | |||||
生物资产 | 11,983 | 13,624 | 12 | 8 | |
存货 | 26,625 | 18,021 | 27 | 11 | |
其他非金融资产 | 22,146 | 24,634 | 23 | 15 | |
交易及其他应收款 | 211,326 | 325,110 | 218 | 199 | |
其他金融资产 | 231,329 | 181,096 | 238 | 111 | |
现金及现金等价物 | 6,739 | 27,154 | 7 | 17 | |
510,149 | 589,641 | 525 | 362 | ||
总资产 | 2,572,426 | 2,828,760 | 2,649 | 1,736 | |
权益和负债 | |||||
股权 | |||||
资本股票 | 1,514 | 1,514 | 2 | 2 | |
资本股票的调整 | 499,297 | 499,297 | 514 | 305 | |
法定储备 | 98,097 | 83,175 | 101 | 51 | |
自愿储备 | 698,087 | 698,087 | 719 | 428 | |
股东贡献 | (37,908) | (45,414) | (39) | (28) | |
未来分红派息的可选准备金 | 416,731 | 147,801 | 429 | 91 | |
滚存收益 | 77,441 | 298,380 | 80 | 183 | |
归属于母公司股东的权益 | 1,753,259 | 1,682,839 | 1,806 | 1,033 | |
非控股权益 | 54,173 | 43,846 | 56 | 27 | |
总资产 | 1,807,432 | 1,726,685 | 1,862 | 1,059 | |
非流动负债 | |||||
应付账款及其他应付账款 | 1,269 | - | 1 | - | |
其他非金融负债 | 26,214 | 56,600 | 27 | 35 | |
其他贷款和借款 | 318,858 | 577,275 | 328 | 354 | |
薪酬和员工福利负债 | 7,009 | 6,671 | 7 | 4 | |
准备金 | 1,168 | 3,899 | 1 | 2 | |
递延所得税负债 | 170,737 | 159,580 | 176 | 98 | |
525,255 | 804,026 | 541 | 493 | ||
流动负债 | |||||
交易及其他应付款 | 69,617 | 100,394 | 72 | 62 | |
其他非金融负债 | 33,808 | 51,641 | 35 | 32 | |
其他贷款和借款 | 64,298 | 98,393 | 66 | 60 | |
薪酬和员工福利负债 | 28,986 | 31,702 | 30 | 19 | |
应付所得税 | 40,413 | 12,646 | 42 | 8 | |
准备金 | 2,615 | 3,274 | 3 | 2 | |
239,738 | 298,050 | 247 | 183 | ||
总负债 | 764,993 | 1,102,075 | 788 | 676 | |
总权益和负债 | 2,572,426 | 2,828,760 | 2,649 | 1,736 |
The FX rate used to convert Argentine Pesos to U.S. dollars is the reference exchange rate reported by the Central Bank (Communication "A" 3500) as of 9/30/2024 (AR$970.92 to US$1.00), 6/30/2024 (AR$911.75 to US$1.00), 3/31/2024 (AR$857.42 to US$1.00), and 9/30/2023 (AR$350.01 to US$1.00), as appropriate.
用于将阿根廷比索转换为美元的汇率是中央银行报告的参考汇率(通讯"A" 3500),截至2024年9月30日(阿$970.92兑换美$1.00),2024年6月30日(阿$911.75兑换美$1.00),2024年3月31日(阿$857.42兑换美$1.00),以及2023年9月30日(阿$350.01兑换美$1.00),视情况而定。
- Consolidated Statement of Cash Flow
- 合并现金流量表
Consolidated Statement of Cash Flow | In AR$ Millions | In US$ Millions | |||
(unaudited figures) | 30-sep-24 | 30-sep-23 | 30-sep-24 | 30-sep-23 | |
Operating activities | |||||
Income for the period before income tax | 160,616 | 76,165 | 165 | 70 | |
Adjustments to reconcile income for the period before income tax to | |||||
net cash flows: | |||||
Depreciation of property, plant, and equipment | 77,853 | 90,618 | 80 | 84 | |
Amortization of intangible assets | 2,090 | 9,120 | 2 | 8 | |
Income from sale of property, plant and equipment and inventory | (47) | (173) | (0) | (0) | |
Recovery (Charge) for discount of tax credits | (10) | 2,895 | (0) | - | |
Interest earned from customers | (25,008) | (55,089) | (26) | (48) | |
Financial income | (63,647) | (221,012) | (66) | (204) | |
Financial expenses | 124,781 | 303,701 | 129 | 281 | |
Insurance recovery | (4,533) | - | (5) | - | |
Share of the profit of associates | (11,026) | (3,339) | (11) | (3) | |
Result from investments in entities measured at fair value | (2,773) | - | (3) | - | |
Movement in accruals and charge to long-term employee benefit plan | 9,455 | 4,935 | 10 | 5 | |
Revaluation of biological assets | (11,907) | (53,640) | (12) | (50) | |
Foreign exchange difference for trade receivables | (40,702) | (178,074) | (42) | (165) | |
Cammesa Agreement | 11,426 | - | 12 | - | |
Loss on net monetary position | (44,372) | 174,553 | (46) | 161 | |
Working capital adjustments: | |||||
Increase/Decrease in trade and other receivables | 42,819 | 67,442 | 44 | 62 | |
Increase/Decrease in other non-financial assets, inventories and | (4,605) | 6,212 | (5) | 6 | |
biological assets | |||||
Increase/Decrease in trade and other payables, other non-financial | (58,783) | (26,693) | (61) | (25) | |
liabilities, and liabilities from employee benefits | |||||
Interest received from customers | 28,933 | 45,567 | 30 | 42 | |
Income tax paid | (12,916) | (56,728) | (13) | (54) | |
Fiscal interest paid | - | (1,979) | - | - | |
Collected Insurance Recovery | 1,330 | 238 | 1 | 0 | |
Net cash flows provided by operating activities | 178,973 | 184,721 | 184 | 171 | |
Investing activities | |||||
Purchase of property, plant and equipment and intangible assets | (76,961) | (15,443) | (79) | (14) | |
Shares buyback | - | (1,863) | - | (2) | |
Dividends received | 7,538 | 2,383 | 8 | 2 | |
Sale of property, plant and equipment | 1,034 | - | 1 | - | |
Acquisition of other financial assets, net | (47,288) | (1,932) | (49) | (2) | |
Acquisition of subsidiaries and associates, net of the cash acquired | - | (67,440) | - | (62) | |
Net cash flows used in investing activities | (115,676) | (84,295) | (119) | (78) | |
Financing activities | |||||
Procurement / Cancellation of advances in bank checking accounts and principal accounts, net | 13,617 | (2,648) | 14 | (2) | |
Loans received | 59,803 | 44,787 | 62 | 41 | |
Loans cancelled | (103,974) | (85,935) | (107) | (79) | |
Payment for bond buybacks | - | (13,051) | - | (12) | |
Interests and other loan costs paid | (31,036) | (30,548) | (32) | (28) | |
Dividends paid | (13,768) | (4,590) | (14) | (4) | |
Net cash flows used in financing activities | (75,358) | (91,984) | (78) | (85) | |
Increase/Decrease in cash and cash equivalents | (12,062) | 8,442 | (12) | 8 | |
Exchange difference and other financial results | 466 | 21,873 | 0 | 20 | |
Monetary results effect on cash and cash equivalents | (8,818) | (25,441) | (5) | (24) | |
Cash and cash equivalents as of January 1 | 27,154 | 58,027 | 24 | 54 | |
Cash and cash equivalents at closing | 6,740 | 62,900 | 7 | 58 |
合并现金流量表 | 以阿根廷比索计(百万) | 以美元计(百万) | |||
(未经审计的数字) | 2024年9月30日 | 2023年9月30日 | 2024年9月30日 | 2023年9月30日 | |
运营活动 | |||||
本期税前收入 | 160,616 | 76,165 | 165 | 70 | |
对税前收入进行调整以便与本期收入进行对账 | |||||
净现金流: | |||||
物业、厂房及设备的折旧 | 77,853 | 90,618 | 80 | 84 | |
无形资产摊销 | 2,090 | 9,120 | 2 | 8 | |
出售物业、设备、存货的收入 | (47) | (173) | (0) | (0) | |
税收抵免折扣的恢复(收取) | (10) | 2,895 | (0) | - | |
来自客户的利息收入 | (25,008) | (55,089) | (26) | (48) | |
金融收入 | (63,647) | (221,012) | (66) | (204) | |
财务费用 | 124,781 | 303,701 | 129 | 281 | |
保险索赔 | (4,533) | - | (5) | - | |
联营公司利润的分享 | (11,026) | (3,339) | (11) | (3) | |
以公允价值计量的实体投资结果 | (2,773) | - | (3) | - | |
应计项目的变动和长期员工福利计划的费用 | 9,455 | 4,935 | 10 | 5 | |
生物资产的重估 | (11,907) | (53,640) | (12) | (50) | |
交易应收款的汇率差异 | (40,702) | (178,074) | (42) | (165) | |
Cammesa协议 | 11,426 | - | 12 | - | |
净货币头寸损失 | (44,372) | 174,553 | (46) | 161 | |
营运资本调整: | |||||
交易和其他应收款的增加/减少 | 42,819 | 67,442 | 44 | 62 | |
其他非金融资产、库存的增加/减少以及 | (4,605) | 6,212 | (5) | 6 | |
生物资产 | |||||
贸易及其他应付款项、其他非金融项目的增加/减少 | (58,783) | (26,693) | (61) | (25) | |
负债,以及来自员工福利的负债 | |||||
从客户那里获得的利息 | 28,933 | 45,567 | 30 | 42 | |
已支付的所得税 | (12,916) | (56,728) | (13) | (54) | |
财政利息支出 | - | (1,979) | - | - | |
收集的保险赔偿 | 1,330 | 238 | 1 | 0 | |
经营活动产生的净现金流 | 178,973 | 184,721 | 184 | 171 | |
投资活动 | |||||
购置不动产、设备和无形资产 | (76,961) | (15,443) | (79) | (14) | |
股票回购 | - | (1,863) | - | (2) | |
已收到分红派息 | 7,538 | 2,383 | 8 | 2 | |
物业、厂房和设备的出售 | 1,034 | - | 1 | - | |
其他金融资产的收购,净额 | (47,288) | (1,932) | (49) | (2) | |
收购子公司和关联公司的净现金获取 | - | (67,440) | - | (62) | |
用于投资活动的净现金流 | (115,676) | (84,295) | (119) | (78) | |
融资活动 | |||||
采购 / 银行支票账户和本金账户的提前支出取消,净额 | 13,617 | (2,648) | 14 | (2) | |
收到的贷款 | 59,803 | 44,787 | 62 | 41 | |
贷款已取消 | (103,974) | (85,935) | (107) | (79) | |
债券型回购的支付 | - | (13,051) | - | (12) | |
支付的利息及其他贷款费用 | (31,036) | (30,548) | (32) | (28) | |
分红派息 | (13,768) | (4,590) | (14) | (4) | |
用于融资活动的净现金流 | (75,358) | (91,984) | (78) | (85) | |
现金及现金等价物的增加/减少 | (12,062) | 8,442 | (12) | 8 | |
交易所差额和其他金融结果 | 466 | 21,873 | 0 | 20 | |
货币结果对现金及现金等价物的影响 | (8,818) | (25,441) | (5) | (24) | |
截至1月1日的现金及现金等价物 | 27,154 | 58,027 | 24 | 54 | |
期末现金及现金等价物 | 6,740 | 62,900 | 7 | 58 |
The FX rate used to convert Argentine Pesos to U.S. dollars is the reference exchange rate reported by the Central Bank (Communication "A" 3500) as of 9/30/2024 (AR$970.92 to US$1.00), 6/30/2024 (AR$911.75 to US$1.00), 3/31/2024 (AR$857.42 to US$1.00), and 9/30/2023 (AR$350.01 to US$1.00), as appropriate.
用于将阿根廷比索转换为美元的汇率是中央银行报告的参考汇率(通讯"A" 3500),截至2024年9月30日(阿$970.92兑换美$1.00),2024年6月30日(阿$911.75兑换美$1.00),2024年3月31日(阿$857.42兑换美$1.00),以及2023年9月30日(阿$350.01兑换美$1.00),视情况而定。
F. Information about the Conference Call
F. 关于电话会议的信息
There will be a conference call to discuss Central Puerto's 3Q 2024 results on November 11, 2024, at 10:00 AM ET.
将于2024年11月11日美国东部时间10:00召开电话会议,讨论Central Puerto的2024年第三季度业绩。
The conference will be hosted by Mr. Fernando Bonnet, Chief Executive Officer, Enrique Terraneo, Chief Financial Officer and Alejandro Diaz Lopez, Investor Relations Officer.
会议将由首席执行官Fernando Bonnet先生、首席财务官Enrique Terraneo和投资者关系官Alejandro Diaz Lopez主持。
To access the conference call:
要参加电话会议,请:
Webcast URL:
网络广播网址:
The Company will also host a live audio webcast of the conference call on the Investor Relations section of the Company's website at . Please allow extra time prior to the call to visit the website and download any streaming media software that might be required to listen to the webcast. The call will be available for replay on the Company's website under the Investor Relations section.
公司还将在公司网站的投资者关系部分举行会议电话的现场直播音频网络广播。请在电话会议开始前预留额外时间,访问网站并下载可能需要的任何流媒体软件以收听网络广播。会议电话可在公司网站的投资者关系部分进行重播。
You may find additional information on the Company at:
您可以在此找到有关公司的更多信息:
- www.sec.gov
- www.sec.gov
Glossary
词汇表
In this release, except where otherwise indicated or where the context otherwise requires:
在本公告中,除非另有说明或上下文另有要求:
"BCRA" refers to Banco Central de la República Argentina, Argentina's Central Bank,
"CAMMESA" refers to Compañía Administradora del Mercado Mayorista Eléctrico Sociedad Anónima;
"COD" refers to Commercial Operation Date, the day in which a generation unit is authorized by CAMMESA (in Spanish, "Habilitación Comercial") to sell electric energy through the grid under the applicable commercial conditions;
"Ecogas" refers collectively to Distribuidora de Gas Cuyana ("DGCU"), Distribuidora de Gas del Centro ("DGCE"), and their controlling company Inversora de Gas del Centro ("IGCE");
"Energía Base" (legacy energy) refers to the regulatory framework established under Resolution SE No. 95/13, as amended, currently regulated by Resolution SE No. 9/24;
"FONINVEMEM" or "FONI", refers to the Fondo para Inversiones Necesarias que Permitan Incrementar la Oferta de Energía Eléctrica en el Mercado Eléctrico Mayorista (the Fund for Investments Required to Increase the Electric Power Supply) and Similar Programs, including Central Vuelta de Obligado (CVO) Agreement;
"p.p.", refers to percentage points;
"PPA" refers to power purchase agreements.
"BCRA"指的是阿根廷中央银行,阿根廷的中央银行。
“CAMMESA”是指电力市场管理公司股份有限公司(Compañía Administradora del Mercado Mayorista Eléctrico Sociedad Anónima);
“COD”是指商业运营日期,是指发电单位被CAMMESA授权(西班牙语为“商业启用”)以适用的商业条件通过电网销售电能的日期;
“Ecogas”是指包括Cuyana天然气分销公司(“DGCU”)、中央天然气分销公司(“DGCE”)及其控股公司中央天然气投资公司(“IGCE”)在内的集合体;
“基础能源”(legacy energy)是指根据第SE 95/13号决议所建立的监管框架,经过修订后,当前受第SE 9/24号决议的监管;
“FONINVEMEM”或“FONI”指的是为增加电力市场电力供应而需进行投资的基金(Fondo para Inversiones Necesarias que Permitan Incrementar la Oferta de Energía Eléctrica en el Mercado Eléctrico Mayorista)及类似项目,包括中央Vuelta de Obligado(CVO)协议;
“p.p.”是指百分比点;
“PPA”是指电力采购协议。
Disclaimer
免责声明
Rounding amounts and percentages: Certain amounts and percentages included in this release have been rounded for ease of presentation. Percentage figures included in this release have not in all cases been calculated on the basis of such rounded figures, but on the basis of such amounts prior to rounding. For this reason, certain percentage amounts in this release may vary from those obtained by performing the same calculations using the figures in the financial statements. In addition, certain other amounts that appear in this release may not sum due to rounding.
金额和百分比的四舍五入在本发布中包含的某些金额和百分比经过四舍五入,以便于展示。本发布中包含的百分比数字并非在所有情况下都基于这些四舍五入的数字计算,而是基于四舍五入前的金额进行计算。因此,本发布中的某些百分比金额可能与使用财务报表中的数据进行相同计算所得到的结果有所不同。此外,本发布中出现的某些其他金额可能由于四舍五入而无法相加。
This release contains certain metrics, including information per share, operating information, and others, which do not have standardized meanings or standard methods of calculation and therefore such measures may not be comparable to similar measures used by other companies. Such metrics have been included herein to provide readers with additional measures to evaluate the Company's performance; however, such measures are not reliable indicators of the future performance of the Company and future performance may not compare to the performance in previous periods.
本发布包含某些指标,包括每股信息、运营信息等,这些指标没有标准化的含义或标准计算方法,因此这些指标可能无法与其他公司使用的类似指标进行比较。这些指标的加入旨在为读者提供额外的评估公司业绩的措施;然而,这些措施并不是公司未来业绩的可靠指标,未来业绩可能与之前时期的业绩不相 compar.
OTHER INFORMATION
其他信息
Central Puerto routinely posts important information for investors in the Investor Relations support section on its website, . From time to time, Central Puerto may use its website as a channel of distribution of material Company information. Accordingly, investors should monitor Central Puerto's Investor Relations website, in addition to following the Company's press releases, SEC filings, public conference calls and webcasts. The information contained on, or that may be accessed through, the Company's website is not incorporated by reference into, and is not a part of, this release.
Central Puerto定期在其网站的投资者关系支持部分发布重要信息。Central Puerto可能不时利用其网站作为传播公司重要信息的渠道。因此,投资者应关注Central Puerto的投资者关系网站,同时跟踪公司的新闻稿、SEC备案、公开电话会议和网络广播。此发布中包含的信息或可能通过公司网站访问的信息并未通过引用纳入本发布,也不构成本发布的一部分。
CAUTIONARY STATEMENTS RELEVANT TO FORWARD-LOOKING INFORMATION
与前瞻性信息相关的警告性声明
This release contains certain forward-looking information and forward-looking statements as defined in applicable securities laws (collectively referred to in this Earnings Release as "forward-looking statements") that constitute forward-looking statements. All statements other than statements of historical fact are forward-looking statements. The words ''anticipate'', ''believe'', ''could'', ''expect'', ''should'', ''plan'', ''intend'', ''will'', ''estimate'' and ''potential'', and similar expressions, as they relate to the Company, are intended to identify forward-looking statements.
本发布包含某些前瞻性信息和前瞻性声明,按照适用的证券法定义(在本财报中统称为"前瞻性声明"),构成前瞻性声明。所有非历史事实的陈述都是前瞻性声明。与公司相关的“预计”,“信任”,“可能”,“期望”,“应该”,“计划”,“打算”,“将会”,“估计”和“潜在”等词语,以及类似的表达,旨在识别前瞻性声明。
Statements regarding possible or assumed future results of operations, business strategies, financing plans, competitive position, industry environment, potential growth opportunities, the effects of future regulation and the effects of competition, expected power generation and capital expenditures plan, are examples of forward-looking statements. Forward-looking statements are necessarily based upon a number of factors and assumptions that, while considered reasonable by management, are inherently subject to significant business, economic and competitive uncertainties, and contingencies, which may cause the actual results, performance, or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements.
关于可能或假定的未来运营结果、业务策略、融资计划、竞争地位、行业环境、潜在增长机会、未来监管的影响以及竞争的影响、预期的电力生产和资本支出计划的声明,是前瞻性声明的例子。前瞻性声明必然基于许多因素和假设,虽然管理层认为这些因素是合理的,但本质上受到重大业务、经济和竞争不确定性以及或有事项的影响,这可能导致公司实际的结果、表现或成就与前瞻性声明中所表达或暗示的任何未来结果、表现或成就有显著不同。
The Company assumes no obligation to update forward-looking statements except as required under securities laws. Further information concerning risks and uncertainties associated with these forward-looking statements and the Company's business can be found in the Company's public disclosures filed on EDGAR (www.sec.gov).
公司不承担根据证券法要求更新前瞻性声明的义务。有关与这些前瞻性声明及公司业务相关的风险和不确定性的更多信息,可以在公司提交到EDGAR(www.sec.gov)的公开披露文件中找到。
EBITDA & ADJUSTED EBITDA
EBITDA & 调整后EBITDA
In this release, EBITDA, a non-IFRS financial measure, is defined as net income for the period, plus finance expenses, minus finance income, minus share of the profit (loss) of associates, plus (minus) losses (gains) on net monetary position, plus income tax expense, plus depreciation and amortization, minus net results of discontinued operations.
在本发布中,EBITDA(非国际财务报告准则财务指标)被定义为期间的净利润,加上财务费用,减去财务收入,减去联营公司利润(亏损)的份额,加(减)净货币头寸的损失(收益),加上所得税费用,加上折旧和摊销,减去停业业务的净结果。
Adjusted EBITDA refers to EBITDA excluding impairment on property, plant & equipment, foreign exchange difference and interests related to FONI trade receivables and variations in fair value of biological asset.
调整后EBITDA是指不包括物业、厂房及设备减值、外汇差异以及与FONI应收账款相关的利息和生物资产公允价值变动的EBITDA。
Adjusted EBITDA is believed to provide useful supplemental information to investors about the Company and its results. Adjusted EBITDA is among the measures used by the Company's management team to evaluate the financial and operating performance and make day-to-day financial and operating decisions. In addition, Adjusted EBITDA is frequently used by securities analysts, investors, and other parties to evaluate companies in the industry. Adjusted EBITDA is believed to be helpful to investors because it provides additional information about trends in the core operating performance prior to considering the impact of capital structure, depreciation, amortization, and taxation on the results.
调整后EBITDA被认为为投资者提供有关公司及其业绩的有用补充信息。调整后EBITDA是公司管理层用于评估财务和运营绩效以及做出日常财务和运营决策的众多指标之一。此外,调整后EBITDA也常被证券分析师、投资者及其他各方用于评估同行业的公司。调整后EBITDA被认为对投资者有帮助,因为它在考虑资本结构、折旧、摊销和税收对结果的影响之前提供了关于核心运营绩效趋势的额外信息。
Adjusted EBITDA should not be considered in isolation or as a substitute for other measures of financial performance reported in accordance with IFRS. Adjusted EBITDA has limitations as an analytical tool, including:
调整后的EBITDA不应孤立考虑,也不能作为根据国际财务报告准则(IFRS)报告的其他财务表现指标的替代。调整后的EBITDA作为分析工具有其局限性,包括:
Adjusted EBITDA does not reflect changes in, including cash requirements for, working capital needs or contractual commitments;
Adjusted EBITDA does not reflect the finance expenses, or the cash requirements to service interest or principal payments on indebtedness, or interest income or other finance income;
Adjusted EBITDA does not reflect income tax expense or the cash requirements to pay income taxes;
although depreciation and amortization are non-cash charges, the assets being depreciated or amortized often will need to be replaced in the future, and Adjusted EBITDA does not reflect any cash requirements for these replacements;
although share of the profit of associates is a non-cash charge, Adjusted EBITDA does not consider the potential collection of dividends; and
other companies may calculate Adjusted EBITDA differently, limiting its usefulness as a comparative measure.
调整后的EBITDA未反映工作资本需求或合同承诺的变化,包括现金需求;
调整后的EBITDA未反映财务费用,或偿还债务的利息或本金支付的现金需求,或利息收入或其他财务收入;
调整后的EBITDA未反映所得税费用或支付所得税的现金需求;
尽管折旧和摊销是非现金费用,但被折旧或摊销的资产往往在未来需要被替换,调整后的EBITDA未反映这些替换的现金需求;
尽管关联公司的利润份额是非现金费用,但调整后的EBITDA未考虑潜在的分红收取;
其他公司可能以不同方式计算调整后的EBITDA,限制其作为比较指标的有效性。
The Company compensates for the inherent limitations associated with using Adjusted EBITDA through disclosure of these limitations, presentation of the Company's consolidated financial statements in accordance with IFRS and reconciliation of Adjusted EBITDA to the most directly comparable IFRS measure, net income. For a reconciliation of the net income to Adjusted EBITDA, see the tables included in this release.
公司通过披露这些局限性,按照国际财务报告准则(IFRS)呈现公司的综合财务报表,以及将调整后的EBITDA与最直接可比的IFRS指标——净利润进行对账,来弥补使用调整后的EBITDA的固有局限性。有关净利润与调整后的EBITDA的对账,请参见本公告中包含的表格。
All the information presented must be considered as consolidated unless otherwise specified.
除非另有说明,所呈现的所有信息必须视为合并信息。
Stock information:
股票信息:
New York Stock Exchange
Ticker: CEPU
1 ADR = 10 ordinary shares
Bolsas y Mercados Argentinos
Ticker: CEPU
纽约证券交易所
逐笔明细:CEPU
1 ADR = 10 普通股
阿根廷证券交易所
逐笔明细:CEPU
Contact information:
Chief Financial Officer
Enrique Terraneo
联系信息:
首席财务官
恩里克·特拉尼欧
- Tel:
(+54 11) 4317 5000 - Email:
inversores@centralpuerto.com - Investor Relations Website:
- 电话:
(+54 11) 4317 5000 - 电子邮件:
inversores@centralpuerto.com - 投资者关系网站:
(1) See "Disclaimer-EBITDA & Adjusted EBITDA" on page 25 for further information.
(1) 请参见第25页的"免责声明-EBITDA & 调整后EBITDA"以获取更多信息。
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