Central Puerto S.A. (NYSE:CEPU) Q4 2023 Earnings Conference Call March 11, 2024 11:00 AM ET Company Participants Pablo Calderone - Corporate Finance and Investor Relations Manager Fernando Bonnet - Chief Executive Officer Conference Call Participants Martin Arancet - Balanz Capital Operator Good morning, ladies and gentlemen, and welcome to Central Puerto's Fourth Quarter 2023 Earnings Webcast. All participants will be in a listen-only mode. [Operator Instructions] After today's presentation, there will be ...

Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.Considering these trends, value investing is clearly one of the most preferred ways to find strong stocks in any type of market. Value investors rely on traditional forms of analysis on key valuation metrics to find stocks that they believe are unde ...

Company Participants Fernando Bonnet - Chief Executive Officer Rodrigo Nistor - Latin Securities Good morning, ladies and gentlemen. Welcome to Central Puerto's Third Quarter 2023 Earnings Webcast. All participants will be in a listen-only mode. [Operator Instructions] After todayÂ's presentation there will be an opportunity to ask questions. Please note, this event is being recorded. If you do not have a copy of the press release, please refer to the Investor Relations support section on the company's corp ...

Company Participants MartÃn Arancet – Balanz Capital On the call today from Central Puerto is Fernando Bonnet, Chief Executive Officer; Enrique Terraneo, Chief Financial Officer; and Pablo Calderone, Corporate Finance and Investor Relations Manager. Thus, on a consolidated basis, the adjusted EBITDA of the quarter recorded the contraction of 34% compared to the Ps. 25.8 billion in the second quarter of 2022 as explained before. When analyzing the adjusted EBITDA excluding acquisitions, we can observe that t ...

Fernando Bonnet My last question then is about the new resolution 59. I was wondering what power plants did you add to that? And how much additional EBITDA do you expect from this resolution? Operator Central Puerto S.A. (NYSE:CEPU) Q1 2023 Earnings Conference Call May 15, 2023 11:00 AM ET Federico Bozhori - Financial Controller Conference Call Participants Operator Before we proceed, please be aware that all financial figures were prepared in accordance with IFRS and are stated in Argentinian pesos, unless ...

Title of each class Name of each exchange on which registered American Depositary Shares, each representing 10 common shares of Central Puerto S.A.* New York Stock Exchange* None Indicate the number of outstanding shares of each of the issuer's classes of capital or common stock as of the close of the period covered by the annual report. If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflect ...

Financial Data and Key Metrics Changes - In Q4 2022, revenues decreased to PEs 21.4 billion, a 22% decline from PEs 27.4 billion in Q4 2021, primarily due to a 48% decrease in sales under contracts [24][49] - Adjusted EBITDA for Q4 2022 was PEs 6.9 billion, a 61% decrease from PEs 17.7 billion in Q4 2021, driven by lower revenues and increased administrative expenses [46][47] - Consolidated net income for 2022 was PEs 19.1 billion, compared to a net loss of PEs 1.3 billion in 2021, mainly due to fair value gains on forestry acquisitions [61] Business Line Data and Key Metrics Changes - Energy generation in Q4 2022 was 35,084 gigawatt-hours, a 1% decrease from 35,534 gigawatt-hours in Q4 2021, with a 10% decrease in thermal generation and an 83% decrease in nuclear generation [11][21] - In 2022, energy generation increased 21% to 17,484 gigawatt-hours, attributed to a 23% increase in thermal generation and a 28% increase in hydro generation [23] - Steam production increased 62% in 2022, totaling 1.96 billion tons, compared to 1.21 billion tons in 2021 [4] Market Data and Key Metrics Changes - Installed capacity in the system reached 42,927 megawatts in Q4 2022, a slight decrease of 0.1% from 42,988 megawatts in Q4 2021 [20] - Energy demand increased 3% to 34,564 gigawatt-hours in Q4 2022, with residential demand growing by 4% [42] Company Strategy and Development Direction - The company is focusing on new opportunities in the energy sector and has made significant acquisitions in the forestry sector, positioning itself as a market leader [19][39] - The acquisition of Enel Generacion Costanera for $48 million is expected to reinforce growth and operational synergies [19] Management Comments on Operating Environment and Future Outlook - Management highlighted the impact of new regulations on pricing and expected EBITDA, estimating an impact of $10 million to $15 million for combined cycles [53][65] - The company anticipates recovering the revenue loss from the ending of the Brigadier Lopez TG PPA contract with a new contract expected to be finalized by Q1 2025 [45] Other Important Information - The Secretariat of Energy issued Resolution 826, which includes tariff increases for capacity power energy and energy generation, expected to positively impact revenues [17] - The company distributed dividends of PEs 2.88 per share following the ordinary general assembly on December 23, 2022 [18] Q&A Session Summary Question: What is the expected average EBITDA for the new forestry business? - Management indicated that the expected EBITDA could be affected by FX fluctuations, estimating between $10 million and $15 million for combined cycles [53][65] Question: Will the company sell wood on the spot or through contracts? - The company confirmed that it engages in both selling wood on the spot and through contracts, primarily focusing on spot sales [66] Question: What is the status of the 10 megawatt solar park construction? - Management stated that while they have land for expansion, current transmission line constraints limit immediate growth beyond 5 megawatts [57] Question: What is the updated CapEx for the Brigadier López project? - Management mentioned that a clear view of CapEx would be available in 2 to 3 months, with expectations not exceeding $140 million [69] Question: Are there any remaining payments for the forestry acquisition? - Management confirmed that the full payment for the forestry acquisition has been made, with no further payments expected in 2023 [72]

Financial Data and Key Metrics Changes - Revenues decreased by 17% to Ps.20.3 billion compared to Ps.24.3 billion in Q3 2021, primarily due to a 35% decrease in certain sales and a 2% decrease in sales and contracts [16][23] - Consolidated net income was Ps.4.5 billion in Q3 2022, down from Ps.4.9 billion in the same period of 2021 [23] - Adjusted EBITDA increased by 42% to Ps.20.7 billion in Q3 2022 compared to Ps.14.6 billion in Q3 2021 [19][23] Business Line Data and Key Metrics Changes - Energy generation decreased by 10% to 33,452 gigawatts in Q3 2022 compared to 37,059 gigawatts in Q3 2021, with a 21% decrease in thermal generation and a 19% decrease in nuclear generation [10][11] - The main sources of energy generation were thermal (57%) and hydro (22%), while renewables accounted for 14% and nuclear for 7% [11] Market Data and Key Metrics Changes - Installed capacity in the system reached 42,899 megawatts, a 1% increase from 42,589 megawatts in Q3 2021, with 59% thermal, 25% hydro, 12% renewable, and 4% nuclear [9] - Energy demand increased by 1% to 34,730 kilowatts compared to 34,454 kilowatts in Q3 2021, with commercial demand growing by 5% and residential demand decreasing by 1% [12] Company Strategy and Development Direction - The company is negotiating with an engineering firm to complete the combined cycle power plant at Brigadier López, with expected completion between 22 to 24 months after contract closure [34][38] - The Board of Directors approved the acquisition of shares, indicating a focus on shareholder value [7] - The company aims to broaden its business scope beyond energy generation to include industries such as mining, forestry, and agriculture [8] Management's Comments on Operating Environment and Future Outlook - Management is in discussions with the government regarding the extension of concessions for hydroelectric power plants, with a decision expected early next year [33] - There is an expectation for an increase in energy asset prices this year, with plans to set a path for future increases to keep up with inflation [40][41] - The company is analyzing the possibility of paying dividends next year, indicating positive cash flow generation [41] Other Important Information - The company received a rating upgrade from Category A+ to AA- with a stable outlook, reflecting improved credit quality [6] - The financial figures are stated in Argentinian pesos and include inflation adjustments [2] Q&A Session Summary Question: Updates on hydroelectric power plant concessions - Management is in discussions with the government regarding the concession of Piedra del Águila, with no concrete information available yet [33] Question: Status of the Brigadier Lopez project - Management is working with an EPC provider to close the cycle, expecting to finalize the contract by early next year, with completion anticipated in 22 to 24 months [34][38] Question: Maintenance and remuneration for combined cycle plants - Management is discussing additional remuneration for maintenance with the government, particularly for combined cycle plants reaching their lifetime limits [38][39] Question: Consideration of paying dividends next year - Management confirmed that paying dividends is under analysis and is a possibility due to positive cash flow generation [41]

Company Information - Central Puerto S.A. filed its report for the month of September 2022 under the Securities Exchange Act of 1934[1] - The registrant's principal executive office is located at Avenida Thomas Edison 2701, Buenos Aires, Argentina[2] Report Details - The report was signed by Leonardo Marinaro, Attorney-in-Fact, on September 30, 2022[8]

Financial Data and Key Metrics Changes - Revenues for Q2 2022 were ARS 19.1 billion, a 5% decrease from ARS 20.1 billion in Q2 2021, primarily due to a 37% decrease in Spot/Energía sales [19] - EBITDA for Q2 2022 was ARS 12 billion, a 6% increase from ARS 11.3 billion in Q2 2021, driven by a 5% decrease in cost of sales [21] - Consolidated net income was ARS 2.4 billion in Q2 2022, compared to a net loss of ARS 7.2 billion in the same period of 2021 [22] Business Line Data and Key Metrics Changes - Energy generation in Q2 2022 was 4,280 gigawatts, a 14% increase from the same period in 2021, mainly due to a 39% increase in thermal units [14] - Energy generation from hydro plants decreased by 45% due to lower water inflows [14] - In the first half of 2022, energy generation increased 23% to 8,865 gigawatts compared to 7,218 gigawatts in the same period in 2021 [16] Market Data and Key Metrics Changes - Total energy demand increased by 6% to 34,948 gigawatts in Q2 2022, with commercial users growing by 7% and residential users also growing by 7% [13] - The energy generation mix as of Q2 2022 was 60% thermal, 32% hydro, 13% renewable, and 6% nuclear [11] Company Strategy and Development Direction - The company successfully bid for 10 megawatts of dispatch priority for the Parque Solar San Carlos Project, indicating a focus on renewable energy projects [8] - The company is in discussions with the government regarding the renewal of the concession for the Piedra del Águila hydro plant, indicating a strategic focus on maintaining and expanding its operational capacity [31][32] Management Comments on Operating Environment and Future Outlook - Management noted a recovery in industrial demand, returning to pre-COVID levels, but indicated uncertainty regarding residential demand due to potential subsidy changes [28][29] - There is an expectation of improved hydro conditions for the Piedra del Águila plant, but management remains cautious about the sustainability of this improvement [30] Other Important Information - The company reported a significant increase in financial expenses due to foreign exchange differences and inflation, impacting net income [22] - Cash flow from operating activities was ARS 16.9 billion, including collections from trade receivables [24] Q&A Session Summary Question: What are the current plans for any stoppages or maintenance in the second half of the year? - Management indicated no significant maintenance is expected for the rest of the year, with only small regular maintenance planned [26] Question: What changes in demand are expected in the second half? - Management noted some recovery in industrial demand but expressed uncertainty regarding residential demand due to potential subsidy changes [28][29] Question: What is the current situation regarding the Piedra del Águila hydro plant? - Management reported improved inflows but stated it is too early to determine if production levels will return to medium levels [30] Question: What percentage of EBITDA does Piedra del Águila represent? - Management indicated that Piedra del Águila contributes around $30 million to EBITDA [33] Question: What are the payment delays from CAMMESA? - Management reported delays of around 60 days currently, with expectations to reduce this as the new administration stabilizes [35]