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4Q 2018 TGI Results PresentationMarch 13, 2019
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This presentation contains statements that are forward-looking within the meaning of Section 27A of the Securities
Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as
amended. Such forward-looking statements are only predictions and are not guarantees of future performance. All
statements other than statements of historical fact are, or may be deemed to be, forward-looking statements.
Forward-looking statements include, among other things, statements concerning the potential exposure of TGI, its
consolidated subsidiaries and related companies to market risks and statements expressing management’
expectations, beliefs, estimates, forecasts, projections and assumptions. These forward-looking statements are
identified by their use of terms and phrases such as “anticipate”, “believe”, “could”, “estimate”, “expect”, “intend”,
“may”, “plan”, “objectives”, ”outlook”, “probably”, “project”, “will”, “seek”, “target”, “risks”, “goals”, “should” and similar
terms and phrases. Forward-looking statements are statements of future expectations that are based on
management’s current expectations and assumptions and involve known and unknown risks and uncertainties that
could cause actual results, performance or events to differ materially from those expressed or implied in these
statements. Although TGI believes that the expectations and assumptions reflected in such forward-looking
statements are reasonable based on information currently available to TGI’s management, such expectations and
assumptions are necessarily speculative and subject to substantial uncertainty, and as a result, TGI cannot guarantee
future results or events. TGI does not undertake any obligation to update any forward-looking statement or other
information to reflect events or circumstances occurring after the date of this presentation or to reflect the occurrence
of unanticipated events.
Disclaimer
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Agenda
01 Key Updates
02 Financial and Operational Performance
03 Investment Projects
04 Questions and Answers
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Key Updates01
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Key Updates1
December: Exit points Floresta (Boyacá) and Paratebueno (Cundinamarca) were delivered
October 17: Pricing of TGI´s Bond with maturity on 2028, closing at a rate of 5,55% and reaching a Bid to offer of 3,5 times
November 1: Replacement of the 2022 bond for the 2028 bond
Operational Performance
Financial Performance
October 24: Dividend payment (remaining balance) to GEB for COP$150.038 million
December 3: Capitalization of Contugas for USD$1,8 million
End of December: Entry into operations of the realignment for the Gualanday Dina gas pipeline
Award of Transmilenio tender: 481 of 1.383 articulated and biarticulated, with an estimated volume of 2,9 Mpcd
Satisfactory results of the TGI 2018 Forum, with an attendance of more than 270 guests, participation of different agents of the chain, guilds, government and the country’s productive sector
Commercial Performance
Increase in the capacity of the Morichal - Yopal gas pipeline, from 5 Mpcd to 11,8 Mpcd
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Financial and Operational Performance02
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Revenue Breakdown
Stable and predictable generation of cash flow2TGI presents an important stability
in its revenue
Revenue by Industry Revenue by Customers
USD$ Million
Quarterly Revenue
TGI’s revenue is highly regulated
The Company has excellent quality of contracts:
97% of firm contracts, with an average remaining life
of 7 years
Firm contracts - 90% of fixed charges
In 4Q 2018, the main clients of TGI represented
approximately 88% of the total operational revenue
and the most representative sectors represented
98% of such entry
64,5%
13,1%10,3%
2,3%8,3%
1,5%
63,9%
12,9% 12,9%
2,3%7,2%
0,8%
Distributor Refinery Thermal Commercial Vehicular Others
4Q 2018
4Q 2017
31,3%
18,3%
14,7%
9,1%
5,1% 5,0% 4,9%
11,6%
28,5%
19,3%
13,0%10,3%
6,1%4,9%
4,2%
13,7%
Gas Natural Gases deOccidente
Ecopetrol EPM Isagen Alcanos Efigas Others
4Q 2018
4Q 2017
104,7109,9 108,1
112,7 111,0
4Q 2017 1Q 2018 2Q2018 3Q 2018 4Q 2018
2018
USD$441,7
6,9% YoY
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EBITDA & EBITDA Margin
Costs| Operational Expenses Operational income
Net Income
3 months figures / USD$ Million
2018
USD$198,27
13,7% YoY
2018
USD$249,33
3,9% YoY
2018
USD$136,01
-3,0% YoY
2018
USD$328,98
3,9% YoY
Margin: 74,5%
2 TGI Financial Performance
53,08
39,27
51,37 52,6155,02
4Q 2017 1Q 2018 2Q2018 3Q 2018 4Q 2018
52,12
70,71
58,67
63,82
56,13
4Q 2017 1Q 2018 2Q2018 3Q 2018 4Q 2018
72,67
91,65
77,9182,13
77,29
69,4%
83,4%
72,1% 72,9%69,6%
4Q 2017 1Q 2018 2Q2018 3Q 2018 4Q 2018
43,14
22,69
37,66
12,50
63,16
4Q 2017 1Q 2018 2Q2018 3Q 2018 4Q 2018
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(USD$ Million)
(USD$ Billion) (USD$ Billion)
Liabilities | EquityPPE
Cash and EquivalentsTotal Assets
(USD$ Billion)
3,24
2,812,60
2,49
2015 2016 2017 2018
258,00
229,00
79,50
46,82
2015 2016 2017 2018
1,97 2,041,79 1,65
1,270,77
0,810,84
2015 2016 2017 2018
Liabilities Equity
2,28 2,22 2,20 2,18
2015 2016 2017 2018
2 TGI Financial Performance
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3,4
4,0
3,7
3,5
2015 2016 2017 2018
Gross Total Debt / EBITDA
Net Total Debt / EBITDA EBITDA / Financial Expenses
Debt profile
LTM
LTM
LTM
Total
USD$1,2 billion
TGI Bond64.0%
Subordinated Debt
31.6%
IELAH3.4%
Leasing & Renting
1.0%
2,7
3,2
3,5 3,4
2015 2016 2017 2018
4.0(1)
5,0
4,4
3,8 3,8
2015 2016 2017 2018
(1) Reasonable indebtedness limit
2 TGI Financial Performance
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Gas pipeline length
(km)
Transported Volume
Average – mpcd
The total length of the TGI pipeline system is
approximately 3.994 km, of which 3.844 km are owned and
operated by TGI; the remaining 150 km, even though they
are under the control and supervision of TGI, are operated
by the contractor.
Of the total transported volume in the gas pipeline
network at a national level, TGI continues to be the main
actor with 460 Mpcd, the second is Promigas with 358,2
Mpcd.
2 TGI Operational Performance
3.957 3.957
3.994 3.994 3.994
1Q 2018 2Q 2018 3Q 2018 4Q 2018 Q4 2018
438
426
440
460 460
1Q 2018 2Q 2018 3Q 2018 4Q 2018 Q4 2018
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Total Capacity Firm contracted capacity(1)
Use factor
(mpcd) Average – mpcd
(1) The trend line refers to the ratio: Firm contracted capacity/available capacity. The Available capacity differs from the Total Capacity because TGI requires a percentage of the capacity for its own use.
2 TGI Operational Performance
754
785 785 785 792
1Q 2018 2Q 2018 3Q 2018 4Q 2018 Q4 2018
689
704716 719
713
91% 90% 91% 92% 90%
1Q 2018 2Q 2018 3Q 2018 4Q 2018 Q4 2018
52,1%
50,0%50,8%
52,3% 51,9%
1Q 2018 2Q 2018 3Q 2018 4Q 2018 Q4 2018
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Investment Projects03
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TGI Outlook3New opportunities in evaluation Gas pipeline network(1)
The following IPAT projects are subject to being executed by TGI,
according to the following resolutions in force:
• Loop Marquita – Gualanday
• Barrancabermeja – Ballena Bidirectionality
• Yumbo – Mariquita Bidirectionality
• Compressor Project. Jamundi Branch -
Downstream (Pradera Node)
TGI is waiting for the release of the final terms of reference for the
following project, to decide on its participation:
• Regasification Plant - Buenaventura and Buenaventura –
Yumbo Gas pipeline
New expected date for start of operations: September 2023
Cartagena Refinery
Barrancabermeja Refinery
Bucaramanga
Bogotá
Neiva
Cali
Medellin 2.27 tcf
0,49 tcf
EsternProducers:
EcopetrolEquion
High Magdalena
Valley
Middle Magdalena
Lower Magdalena
NorthenProducers:
ChevronEcopetrol
0,71 tcf
Guajira
Cusiana-Cupiagua
References
TGI Gas pipelines
Natural Gas Reserves
City
Field
Refinery
Third-party Gas pipelines
Reserves in other regions 0.4 2tcf
Total reserves 3.89 tcf
Pac
ific
Oce
an
Caribbean Sea
VE
NE
ZU
ELA
(1) has access to the three main gas production fields, Guajira and Cusiana-Cupiagua
Source: National Mining and Energy Planing Unit - National Hydrocarbons Agency
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Project Description Total projectinvestment
Status
Increase the natural gas transportation
capacity in 58 Mpcd between Cusiana
and Vasconia, with the construction of
39,6 Km of 30" diameter loops
• Expansion of the Gas Compression
Station of Puente Guillermo
• Modifications to the Gas
Compression Stations of Miraflores
and Vasconia
~$ 70,7 mm• Total Capex executed to date – USD$27,8 million
• Total Capex executed 4Q 2018 – USD$8,4 million
• Execution – 52,4%
• Start of Operations – 1T 2020
Cusiana Phase IV
Replacement of
Branches
Replacement of 4 branches for reaching
their regulatory useful lifespan in
accordance with resolution CREG 126 of
2016
~$ 11,6mm
• Total Capex executed to date – USD$2 million
• Total Capex executed 4Q 2018 – USD$0,7 million
• Execution – 23,9%
• Start of Operations – 3Q 2019
Branch Yarigüíes - Puerto Wilches
Branch Z. Industrial Cantagallo –
Cantagallo
Branch Cantagallo – San Pablo
Total Galán – Casabe – Yondó
3 Investment Projects in Execution
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Questions and Answers04
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Investor RelationsFor more information about TGI contact any of the members of the Investor Relations team
Julio Alarcón
Finance Vice President (E)
+57 (1) 3138400 Valeria Marconi
Investor Relations
Manager
GEB
+57 (1) 326 8000 Ext 1536
Sandra JiménezInvestor Relations
Adviser
GEB
+57 (1) 326 8000 Ext 1827
www.tgi.com.cowww.grupoenergiabogota.com/en/investors
Sergio Gomez
Planning and Financial
Control Director
TGI
+57 (1) 3138400Ext 2111
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For restricted use by GRUPO ENERGÍA BOGOTÁ S.A. ESP. All rights
reserved. No part of this presentation may be reproduced or used in any
manner or by any means without the express authorization of GRUPO
ENERGÍA BOGOTÁ S.A ESP.
