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Item
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Central Puerto S.A.
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Date:
September 10, 2020
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By:
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/s/
Leonardo
Marinaro
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Name:
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Leonardo
Marinaro
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Title:
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Attorney-in-Fact
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English translation of the consolidated financial statements
originally filed in Spanish with the Argentine Securities
Commission (“CNV”).
In case of discrepancy, the consolidated financial statements filed
with the CNV prevail over this translation.
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CENTRAL
PUERTO S.A.
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Class
of shares
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Subscribed,
paid-in, issued and registered
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|
1,514,022,256
common, outstanding book-entry shares, with face value of 1 each
and entitled to one vote per share.
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1,514,022,256
|
English translation of the consolidated financial statements
originally filed in Spanish with the Argentine Securities
Commission (“CNV”).
In case of discrepancy, the consolidated financial statements filed
with the CNV prevail over this translation.
|
CENTRAL
PUERTO S.A.
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6
months
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3
months
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||
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Unaudited
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Unaudited
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Notes
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01-01-2020 to
06-30-2020
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01-01-2019 to
06-30-2019
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04-01-2020 to
06-30-2020
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04-01-2019 to
06-30-2019
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ARS
000
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ARS
000
|
ARS
000
|
ARS
000
|
|
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Revenues
|
4
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15,618,868
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18,055,908
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7,183,422
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8,307,463
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Cost of sales
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Exhibit F
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(6,872,064)
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(10,400,232)
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(3,375,264)
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(4,679,682)
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Gross
income
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|
8,746,804
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7,655,676
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3,808,158
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3,627,781
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Administrative and selling
expenses
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Exhibit H
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(1,214,422)
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(1,311,219)
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(554,457)
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(600,616)
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Other operating
income
|
5.1
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7,105,762
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5,628,328
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3,731,721
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1,068,666
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Other operating
expenses
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5.2
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(349,515)
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(222,582)
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(175,701)
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(168,491)
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Impairment of property, plant and
equipment
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2.4
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(1,251,730)
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-
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(435,663)
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-
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Operating
income
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13,036,899
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11,750,203
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6,374,058
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3,927,340
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|
|
|
|
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Loss on net monetary
position
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485,227
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(3,770,239)
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154,666
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(1,685,120)
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Finance income
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5.3
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1,531,899
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1,391,699
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1,386,934
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793,929
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Finance
expenses
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5.4
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(9,495,089)
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(3,023,663)
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(5,024,751)
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(734,201)
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Share of the profit of
associates
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(31,979)
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492,525
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(89,025)
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341,403
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Income before
income tax
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5,526,957
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6,840,525
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2,801,882
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2,643,351
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Income tax for the
period
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6
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(2,329,885)
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(2,987,539)
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(612,475)
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(713,193)
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Net income for
the period
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3,197,072
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3,852,986
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2,189,407
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1,930,158
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Total
comprehensive income for the period
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3,197,072
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3,852,986
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2,189,407
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1,930,158
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Attributable
to:
|
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- Equity holders of the
parent
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3,177,244
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3,623,720
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2,194,480
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1,653,872
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- Non-controlling
interests
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19,828
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229,266
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(5,073)
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276,286
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3,197,072
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3,852,986
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2,189,407
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1,930,158
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- Basic and
diluted earnings per share (ARS)
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2.11
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2.41
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1.46
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1.10
|
English translation of the consolidated financial statements
originally filed in Spanish with the Argentine Securities
Commission (“CNV”).
In case of discrepancy, the consolidated financial statements filed
with the CNV prevail over this translation.
|
CENTRAL
PUERTO S.A.
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06-30-2020
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12-31-2019
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Notes
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Unaudited
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Audited
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ARS
000
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ARS
000
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Assets
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Non-current
assets
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Property, plant and
equipment
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67,066,257
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64,403,725
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Intangible
assets
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7,099,914
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8,029,670
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Investment in
associates
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3,769,902
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3,919,621
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Trade and other
receivables
|
7.1
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26,396,121
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27,545,418
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Other non-financial
assets
|
8.1
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533,241
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782,868
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Inventories
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155,762
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163,766
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|
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105,021,197
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104,845,068
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Current
assets
|
|
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Inventories
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884,140
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746,983
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Other non-financial
assets
|
8.1
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1,021,426
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1,143,030
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Trade and other
receivables
|
7.1
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14,460,513
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17,767,078
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Other financial
assets
|
7.5
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4,436,505
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8,745,249
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Cash and cash
equivalents
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2,132,306
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1,696,935
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|
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22,934,890
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30,099,275
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Total
assets
|
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127,956,087
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134,944,343
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Equity
and liabilities
|
|
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Equity
|
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Capital
stock
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1,514,022
|
1,514,022
|
Adjustment to
capital stock
|
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21,126,025
|
21,126,025
|
Legal
reserve
|
|
3,202,398
|
2,702,087
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Voluntary
reserve
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|
40,450,730
|
30,114,738
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Other equity
accounts
|
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(1,640,520)
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-
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Retained
earnings
|
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3,177,244
|
10,836,303
|
Equity
attributable to holders of the parent
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67,829,899
|
66,293,175
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Non-controlling
interests
|
|
71,627
|
898,203
|
Total
equity
|
|
67,901,526
|
67,191,378
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|
|
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Non-current
liabilities
|
|
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Other non-financial
liabilities
|
8.2
|
4,741,259
|
4,946,614
|
Other loans and
borrowings
|
7.3
|
29,283,170
|
34,858,710
|
Compensation and
employee benefits liabilities
|
8.3
|
280,929
|
260,446
|
Provisions
|
|
32,297
|
10,621
|
Deferred income tax
liabilities
|
6
|
7,417,832
|
7,167,934
|
|
|
41,755,487
|
47,244,325
|
Current
liabilities
|
|
|
|
Trade and other
payables
|
7.2
|
2,019,064
|
6,701,367
|
Other non-financial
liabilities
|
8.2
|
1,125,985
|
1,970,105
|
Other loans and
borrowings
|
7.3
|
13,007,827
|
9,116,881
|
Compensation and
employee benefits liabilities
|
8.3
|
595,612
|
793,687
|
Income tax
payable
|
|
1,523,250
|
1,895,412
|
Provisions
|
|
27,336
|
31,188
|
|
|
18,299,074
|
20,508,640
|
Total
liabilities
|
|
60,054,561
|
67,752,965
|
Total
equity and liabilities
|
|
127,956,087
|
134,944,343
|
English translation of the consolidated financial statements
originally filed in Spanish with the Argentine Securities
Commission (“CNV”).
In case of discrepancy, the consolidated financial statements filed
with the CNV prevail over this translation.
CENTRAL PUERTO S.A.
|
|
Attributable to
holders of the parent
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|
|
||||||
|
Capital
stock
|
Retained
earnings
|
|
|
|
|
|
||
|
Face value
(1)
|
Adjustment to
capital stock
|
Legal
reserve
|
Voluntary
reserve
|
Other
equity
accounts
|
Unappropriated
retained earnings
|
Total
|
Non-controlling
interests
|
Total
|
|
ARS
000
|
ARS
000
|
ARS
000
|
ARS
000
|
ARS
000
|
ARS
000
|
ARS
000
|
ARS
000
|
ARS
000
|
|
|
|
|
|
|
|
|
|
|
As of January
1, 2020
|
1,514,022
|
21,126,025
|
2,702,087
|
30,114,738
|
-
|
10,836,303
|
66,293,175
|
898,203
|
67,191,378
|
|
|
|
|
|
|
|
|
|
|
Net income for the
period
|
-
|
-
|
-
|
-
|
-
|
3,177,244
|
3,177,244
|
19,828
|
3,197,072
|
Total comprehensive income for the
period
|
-
|
-
|
-
|
-
|
-
|
3,177,244
|
3,177,244
|
19,828
|
3,197,072
|
|
|
|
|
|
|
|
|
|
|
Increase in legal
reserve
|
-
|
-
|
500,311
|
-
|
-
|
(500,311)
|
-
|
-
|
-
|
Increase in voluntary
reserve
|
-
|
-
|
-
|
10,335,992
|
-
|
(10,335,992)
|
-
|
-
|
-
|
Dividends in cash distributed by a
subsidiary (2)
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
(52,555)
|
(52,555)
|
Transaction with non-controlling
interest (Note 10)
|
-
|
-
|
-
|
-
|
(1,640,520)
|
-
|
(1,640,520)
|
(795,245)
|
(2,435,765)
|
Share-based
payments
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
1,396
|
1,396
|
As of
June 30, 2020
|
1,514,022
|
21,126,025
|
3,202,398
|
40,450,730
|
(1,640,520)
|
3,177,244
|
67,829,899
|
71,627
|
67,901,526
|
English translation of the consolidated financial statements
originally filed in Spanish with the Argentine Securities
Commission (“CNV”).
In case of discrepancy, the consolidated financial statements filed
with the CNV prevail over this translation.
|
CENTRAL
PUERTO S.A.
|
|
Attributable to
holders of the parent
|
|
|
|||||
|
Capital
stock
|
Retained
earnings
|
|
|
|
|
||
|
Face value
(1)
|
Adjustment to
capital stock
|
Legal
reserve
|
Voluntary
reserve
|
Unappropriated
retained earnings
|
Total
|
Non-controlling
interests
|
Total
|
|
ARS
000
|
ARS
000
|
ARS
000
|
ARS
000
|
ARS
000
|
ARS
000
|
ARS
000
|
ARS
000
|
|
|
|
|
|
|
|
|
|
As of January
1, 2019
|
1,514,022
|
21,126,025
|
669,954
|
7,699,679
|
25,713,984
|
56,723,664
|
817,232
|
57,540,896
|
|
|
|
|
|
|
|
|
|
Net income for the
period
|
-
|
-
|
-
|
-
|
3,623,720
|
3,623,720
|
229,266
|
3,852,986
|
Total comprehensive income for the
period
|
-
|
-
|
-
|
-
|
3,623,720
|
3,623,720
|
229,266
|
3,852,986
|
|
|
|
|
|
|
|
|
|
Increase in legal
reserve
|
-
|
-
|
2,032,132
|
-
|
(2,032,132)
|
-
|
-
|
-
|
Increase in voluntary
reserve
|
-
|
-
|
-
|
23,681,852
|
(23,681,852)
|
-
|
-
|
-
|
Contributions from non-controlling
interests
|
-
|
-
|
-
|
-
|
-
|
-
|
220,272
|
220,272
|
Dividends in cash distributed by a
subsidiary (2)
|
-
|
-
|
-
|
-
|
-
|
-
|
(26,388)
|
(26,388)
|
Share-based
payments
|
-
|
-
|
-
|
-
|
-
|
-
|
17,138
|
17,138
|
As of
June 30, 2019
|
1,514,022
|
21,126,025
|
2,702,086
|
31,381,531
|
3,623,720
|
60,347,384
|
1,257,520
|
61,604,904
|
English translation of the consolidated financial statements
originally filed in Spanish with the Argentine Securities
Commission (“CNV”).
In case of discrepancy, the consolidated financial statements filed
with the CNV prevail over this translation.
|
CENTRAL
PUERTO S.A.
|
|
06-30-2020
|
06-30-2019
|
|
Unaudited
|
|
|
ARS
000
|
ARS
000
|
|
|
|
Operating
activities
|
|
|
Income for the
period before income tax
|
5,526,957
|
6,840,525
|
|
|
|
Adjustments
to reconcile income for the period before income tax to net cash
flows:
|
|
|
Depreciation of
property, plant and equipment
|
1,470,027
|
923,325
|
Amortization of
intangible assets
|
973,744
|
316,359
|
Impairment of
property, plant and equipment
|
1,251,730
|
-
|
Discount of
accounts receivables and payables, net
|
39,019
|
39
|
Interest earned
from customers
|
(1,450,213)
|
(2,552,831)
|
Trade and tax
interests lost
|
295,274
|
120,944
|
Finance
income
|
(1,531,899)
|
(1,391,699)
|
Finance
expenses
|
9,495,089
|
3,023,663
|
Share of the profit
of associates
|
31,979
|
(492,525)
|
Share-based
payments
|
1,396
|
17,138
|
Movements in
provisions and long-term employee benefit plan expense
|
56,651
|
110,414
|
Foreign exchange
difference for trade receivables
|
(5,649,993)
|
(3,074,724)
|
Loss on net
monetary position
|
(4,428,558)
|
(3,841,108)
|
|
|
|
Working
capital adjustments:
|
|
|
Decrease in trade
and other receivables
|
8,513,917
|
9,355,767
|
Decrease in other
non-financial assets and inventories
|
203,059
|
90,645
|
(Decrease) Increase
in trade and other payables, other non-financial liabilities and
liabilities from employee benefits
|
(5,649,782)
|
610,649
|
|
9,148,397
|
10,056,581
|
Interest received
from customers
|
1,282,441
|
2,425,474
|
Income tax
paid
|
(2,225,333)
|
(8,753,407)
|
Net
cash flows provided by operating activities
|
8,205,505
|
3,728,648
|
|
|
|
Investing
activities
|
|
|
Purchase of
property, plant and equipment
|
(5,929,490)
|
(7,986,902)
|
Acquisition of
Thermal Station Brigadier López
|
-
|
(9,617,330)
|
Dividends
received
|
117,634
|
133,163
|
Sale of
available-for-sale financial assets, net
|
2,766,959
|
708,415
|
Net
cash flows used in investing activities
|
(3,044,897)
|
(16,762,654)
|
|
|
|
Financing
activities
|
|
|
Bank and investment
accounts overdrafts received (paid), net
|
(2,000,857)
|
821,758
|
Long-term loans
received
|
-
|
14,811,924
|
Long-term loans
paid
|
(718,619)
|
(527,172)
|
Interest and other
financial costs paid
|
(1,440,690)
|
(1,647,749)
|
Contributions from
non-controlling interests
|
-
|
220,272
|
Dividends
paid
|
(52,555)
|
(26,388)
|
Net
cash flows (used in) provided by financing activities
|
(4,212,721)
|
13,652,645
|
|
|
|
Increase
in cash and cash equivalents
|
947,887
|
618,639
|
Exchange difference
and other financial results
|
(364,199)
|
9,201
|
Monetary results
effect on cash and cash equivalents
|
(148,317)
|
129,030
|
Cash and cash
equivalents as of January 1
|
1,696,935
|
401,819
|
Cash
and cash equivalents as of June 30
|
2,132,306
|
1,158,689
|
English translation of the consolidated financial statements
originally filed in Spanish with the Argentine Securities
Commission (“CNV”).
In case of discrepancy, the consolidated financial statements filed
with the CNV prevail over this translation.
|
CENTRAL
PUERTO S.A.
|
English translation of the consolidated financial statements
originally filed in Spanish with the Argentine Securities
Commission (“CNV”).
In case of discrepancy, the consolidated financial statements filed
with the CNV prevail over this translation.
|
CENTRAL
PUERTO S.A.
|
Hours of maximum
thermal requirement
|
|
FRPHMRT
|
||||||
|
Summer
|
|
Autumn
|
|
Winter
|
|
Spring
|
|
|
|
|
|
|
|
|
|
|
HMRT-1
|
|
1.2
|
|
0.2
|
|
1.2
|
|
0.2
|
HMRT-2
|
|
0.6
|
|
0.0
|
|
0.6
|
|
0.0
|
English translation of the consolidated financial statements
originally filed in Spanish with the Argentine Securities
Commission (“CNV”).
In case of discrepancy, the consolidated financial statements filed
with the CNV prevail over this translation.
|
CENTRAL
PUERTO S.A.
|
Hidro scale
|
|
PowerBasePrice [$/MW-month]
|
|
|
|
Power
> 300 MW
|
|
99,000
|
Power
> 120 MW and <= 300 MW
|
|
132,000
|
Power
> 50 MW and <= 120 MW
|
|
181,500
|
English translation of the consolidated financial statements
originally filed in Spanish with the Argentine Securities
Commission (“CNV”).
In case of discrepancy, the consolidated financial statements filed
with the CNV prevail over this translation.
|
CENTRAL
PUERTO S.A.
|
English translation of the consolidated financial statements
originally filed in Spanish with the Argentine Securities
Commission (“CNV”).
In case of discrepancy, the consolidated financial statements filed
with the CNV prevail over this translation.
|
CENTRAL
PUERTO S.A.
|
English translation of the consolidated financial statements
originally filed in Spanish with the Argentine Securities
Commission (“CNV”).
In case of discrepancy, the consolidated financial statements filed
with the CNV prevail over this translation.
|
CENTRAL
PUERTO S.A.
|
2020
|
Electric Power
Generation from conventional sources
|
Electric Power
Generation from renewable sources
|
Natural Gas
Transport and Distribution (1) (2)
|
Others
(1)
|
Adjustmentsand
Eliminations
|
Total
|
|
ARS
000
|
ARS
000
|
ARS
000
|
ARS
000
|
ARS
000
|
ARS
000
|
|
|
|
|
|
|
|
Revenues
|
12,441,161
|
2,716,413
|
6,060,483
|
618,986
|
(6,218,175)
|
15,618,868
|
Cost of sales
|
(5,883,172)
|
(681,392)
|
(5,202,352)
|
(475,405)
|
5,370,257
|
(6,872,064)
|
Administrative and selling
expenses
|
(1,050,466)
|
(163,956)
|
(1,189,672)
|
-
|
1,189,672
|
(1,214,422)
|
Other operating
income
|
6,961,797
|
137,986
|
154,990
|
5,979
|
(154,990)
|
7,105,762
|
Other operating
expenses
|
(279,056)
|
(69,947)
|
(86,363)
|
(512)
|
86,363
|
(349,515)
|
Impairment of property, plant and
equipment
|
(1,251,730)
|
-
|
-
|
-
|
-
|
(1,251,730)
|
Operating
income
|
10,938,534
|
1,939,104
|
(262,914)
|
149,048
|
273,127
|
13,036,899
|
|
|
|
|
|
|
|
Other (expenses)
income
|
(7,103,578)
|
(2,642,480)
|
(121,336)
|
(3,241)
|
30,808
|
(9,839,827)
|
Net income (loss) for the
segment
|
3,834,956
|
(703,376)
|
(384,250)
|
145,807
|
303,935
|
3,197,072
|
Share in the net
income (loss) for the segment
|
3,834,956
|
(703,376)
|
(34,138)
|
99,630
|
-
|
3,197,072
|
2019
|
Electric Power
Generation from conventional sources
|
Electric Power
Generation from renewable sources
|
Natural Gas
Transport and Distribution (1) (2)
|
Others
(1)
|
Adjustmentsand
Eliminations
|
Total
|
|
ARS
000
|
ARS
000
|
ARS
000
|
ARS
000
|
ARS
000
|
ARS
000
|
|
|
|
|
|
|
|
Revenues
|
16,240,094
|
1,373,283
|
15,169,468
|
896,375
|
(15,623,312)
|
18,055,908
|
Cost of sales
|
(9,689,335)
|
(372,282)
|
(11,368,800)
|
(618,398)
|
11,648,583
|
(10,400,232)
|
Administrative and selling
expenses
|
(1,165,865)
|
(145,354)
|
(1,934,028)
|
-
|
1,934,028
|
(1,311,219)
|
Other operating
income
|
5,559,661
|
60,732
|
529,501
|
7,935
|
(529,501)
|
5,628,328
|
Other operating
expenses
|
(190,753)
|
(13,214)
|
(33,992)
|
(18,615)
|
33,992
|
(222,582)
|
Operating
income
|
10,753,802
|
903,165
|
2,362,149
|
267,297
|
(2,536,210)
|
11,750,203
|
|
|
|
|
|
|
|
Other (expenses)
income
|
(8,294,090)
|
(63,981)
|
(1,205,463)
|
(110,747)
|
1,777,064
|
(7,897,217)
|
Net income (loss) for the
segment
|
2,459,712
|
839,184
|
1,156,686
|
156,550
|
(759,146)
|
3,852,986
|
Share in the net
income (loss) for the segment
|
2,459,712
|
839,184
|
465,157
|
88,933
|
-
|
3,852,986
|
English translation of the consolidated financial statements
originally filed in Spanish with the Argentine Securities
Commission (“CNV”).
In case of discrepancy, the consolidated financial statements filed
with the CNV prevail over this translation.
|
CENTRAL
PUERTO S.A.
|
|
6
months
|
3
months
|
||
|
01-01-2020 to
06-30-2020
|
01-01-2019 to
06-30-2019
|
04-01-2020 to
06-30-2020
|
04-01-2019 to
06-30-2019
|
|
ARS
000
|
ARS
000
|
ARS
000
|
ARS
000
|
|
|
|
|
|
Revenues from Resolution 1,
Resolution 31, Resolution 19,
SGE Resolution 70/2018 and amendments
|
7,438,512
|
15,873,004
|
2,969,667
|
7,220,256
|
Sales under
contracts
|
7,338,559
|
1,588,041
|
3,768,729
|
778,752
|
Steam sales
|
380,503
|
152,332
|
190,279
|
75,194
|
Resale of gas transport and
distribution capacity
|
142,822
|
165,810
|
78,620
|
86,749
|
Revenues from CVO thermal plant
management
|
318,472
|
276,721
|
176,127
|
146,512
|
|
15,618,868
|
18,055,908
|
7,183,422
|
8,307,463
|
|
6
months
|
3
months
|
||
|
01-01-2020 to
06-30-2020
|
01-01-2019 to
06-30-2019
|
04-01-2020 to
06-30-2020
|
04-01-2019 to
06-30-2019
|
|
ARS
000
|
ARS
000
|
ARS
000
|
ARS
000
|
|
|
|
|
|
Interest earned from
customers
|
1,450,213(1)
|
2,552,831(1)
|
642,348(3)
|
2,069,134(3)
|
Foreign exchange difference,
net
|
5,649,993(2)
|
3,074,724(2)
|
3,093,431(4)
|
(1,001,241)(4)
|
Others
|
5,556
|
773
|
(4,058)
|
773
|
|
7,105,762
|
5,628,328
|
3,731,721
|
1,068,666
|
|
6
months
|
3
months
|
||
|
01-01-2020 to
06-30-2020
|
01-01-2019 to
06-30-2019
|
04-01-2020 to
06-30-2020
|
04-01-2019 to
06-30-2019
|
|
ARS
000
|
ARS
000
|
ARS
000
|
ARS
000
|
|
|
|
|
|
(Charge) Recovery related to
discount of tax credits
|
(39,019)
|
-
|
8,891
|
-
|
Recovery (Charge) related to the
provision for lawsuits and claims
|
145
|
(80,175)
|
(339)
|
(43,293)
|
Charge related to the allowance for
doubtful accounts
|
(3,351)
|
(1,503)
|
(3,571)
|
(1,342)
|
Interests
|
(295,274)
|
(120,944)
|
(168,666)
|
(106,121)
|
Others
|
(12,016)
|
(19,960)
|
(12,016)
|
(17,735)
|
|
(349,515)
|
(222,582)
|
(175,701)
|
(168,491)
|
English translation of the consolidated financial statements
originally filed in Spanish with the Argentine Securities
Commission (“CNV”).
In case of discrepancy, the consolidated financial statements filed
with the CNV prevail over this translation.
|
CENTRAL
PUERTO S.A.
|
|
6
months
|
3
months
|
||
|
01-01-2020 to
30-06-2020
|
01-01-2019 to
30-06-2019
|
04-01-2020 to
30-06-2020
|
04-01-2019 to
30-06-2019
|
|
ARS
000
|
ARS
000
|
ARS
000
|
ARS
000
|
|
|
|
|
|
Interest earned
|
75,326
|
44,111
|
10,848
|
16,075
|
Net income on financial assets at
fair value through profit or loss (1)
|
1,203,016
|
716,466
|
1,130,251
|
327,239
|
Foreign exchange
differences
|
253,557
|
631,122
|
245,835
|
450,615
|
|
1,531,899
|
1,391,699
|
1,386,934
|
793,929
|
|
6
months
|
3
months
|
||
|
01-01-2020 to
30-06-2020
|
01-01-2019 to
30-06-2019
|
04-01-2020 to
30-06-2020
|
04-01-2019 to
30-06-2019
|
|
ARS
000
|
ARS
000
|
ARS
000
|
ARS
000
|
|
|
|
|
|
Interest on loans and borrowings
from CAMMESA
|
(1,573,295)
|
(1,534,228)
|
(651,964)
|
(816,372)
|
Foreign exchange
differences
|
(6,815,916)
|
(1,225,581)
|
(4,161,094)
|
256,953
|
Bank commissions for loans and
others
|
(158,903)
|
(29,190)
|
(55,233)
|
(12,760)
|
Others
|
(946,975)
|
(234,664)
|
(156,460)
|
(162,022)
|
|
(9,495,089)
|
(3,023,663)
|
(5,024,751)
|
(734,201)
|
|
6
months
|
3
months
|
||
|
01-01-2020 to
30-06-2020
|
01-01-2019 to
30-06-2019
|
04-01-2020 to
30-06-2020
|
04-01-2019 to
30-06-2019
|
|
ARS
000
|
ARS
000
|
ARS
000
|
ARS
000
|
|
|
|
|
|
Current income
tax
|
|
|
|
|
|
|
|
|
|
Income tax charge for the
period
|
(2,167,097)
|
(3,583,736)
|
(984,232)
|
(1,295,924)
|
Adjustment related to current
income tax for the prior period
|
87,110
|
30,854
|
87,110
|
30,854
|
|
|
|
|
|
Deferred income
tax
|
|
|
|
|
|
|
|
|
|
Related to the net variation in
temporary differences
|
(249,898)
|
565,343
|
284,647
|
551,877
|
Income
tax
|
(2,329,885)
|
(2,987,539)
|
(612,475)
|
(713,193)
|
English translation of the consolidated financial statements
originally filed in Spanish with the Argentine Securities
Commission (“CNV”).
In case of discrepancy, the consolidated financial statements filed
with the CNV prevail over this translation.
|
CENTRAL
PUERTO S.A.
|
|
6
months
|
3
months
|
||
|
01-01-2020 to
30-06-2020
|
01-01-2019 to
30-06-2019
|
04-01-2020 to
30-06-2020
|
04-01-2019 to
30-06-2019
|
|
ARS
000
|
ARS
000
|
ARS
000
|
ARS
000
|
|
|
|
|
|
Income before
income tax
|
5,526,957
|
6,840,525
|
2,801,882
|
2,643,351
|
|
|
|
|
|
At statutory income tax rate of
30%
|
(1,658,087)
|
(2,052,157)
|
(840,564)
|
(793,005)
|
Share of the profit of
associates
|
(2,185)
|
(3,439)
|
1,325
|
(10,394)
|
Effect related to statutory income
tax rate change (1)
|
550,771
|
77,943
|
(47,153)
|
(20,178)
|
Effect related to the discount of
income tax payable
|
234,064
|
(460,575)
|
49,621
|
(83,749)
|
Adjustment related to current
income tax for the prior period
|
87,109
|
30,854
|
87,111
|
30,854
|
Loss on net monetary
position
|
(1,817,549)
|
(580,142)
|
212,183
|
163,293
|
Others
|
275,992
|
(23)
|
(74,998)
|
(14)
|
Income tax for
the period
|
(2,329,885)
|
(2,987,539)
|
(612,475)
|
(713,193)
|
|
Consolidated
statement of financial position
|
Consolidated
statement of income and comprehensive income
|
||
|
06-30-2020
|
12-31-2019
|
06-30-2020
|
06-30-2019
|
|
ARS
000
|
ARS
000
|
ARS
000
|
ARS
000
|
|
|
|
|
|
Provisions and
others
|
(195,608)
|
51,946
|
(247,554)
|
30,933
|
Trade
receivables
|
4,362
|
4,077
|
285
|
-
|
Other financial
assets
|
(74,752)
|
(312,852)
|
238,100
|
(56,721)
|
Employee benefit
liability
|
78,380
|
90,900
|
(12,520)
|
(6,177)
|
Receivables and other non-financial
liabilities
|
-
|
-
|
-
|
455
|
Investments in
associates
|
(864,882)
|
(869,905)
|
5,023
|
(136,268)
|
Property, plant and equipment -
Material & spare parts - Intangible assets
|
(4,959,102)
|
(5,196,823)
|
237,721
|
38,823
|
Deferred tax
income
|
(2,386,605)
|
(2,392,307)
|
5,702
|
792,529
|
Tax loss
carry-forward
|
1,923,610
|
1,878,649
|
44,961
|
(98,231)
|
Tax inflation adjustment -
Asset
|
245,967
|
510,198
|
(264,231)
|
-
|
Tax inflation adjustment -
Liability
|
(1,189,202)
|
(931,817)
|
(257,385)
|
-
|
Deferred income
tax (expense) income
|
|
|
(249,898)
|
565,343
|
Deferred income
tax liabilities, net
|
(7,417,832)
|
(7,167,934)
|
|
|
|
Consolidated
statement of financial position
|
|
|
06-30-2020
|
12-31-2019
|
|
ARS
000
|
ARS
000
|
|
|
|
Deferred income tax
asset
|
2,252,319
|
1,288,217
|
Deferred income tax
liability
|
(9,670,151)
|
(8,456,151)
|
Deferred
income tax liability, net
|
(7,417,832)
|
(7,167,934)
|
English translation of the consolidated financial statements
originally filed in Spanish with the Argentine Securities
Commission (“CNV”).
In case of discrepancy, the consolidated financial statements filed
with the CNV prevail over this translation.
|
CENTRAL
PUERTO S.A.
|
|
06-30-2020
|
12-31-2019
|
|
ARS
000
|
ARS
000
|
|
|
|
Non-current:
|
|
|
Trade receivables -
CAMMESA
|
26,396,078
|
27,545,369
|
Guarantee
deposits
|
43
|
49
|
|
26,396,121
|
27,545,418
|
|
|
|
Current:
|
|
|
Trade receivables -
CAMMESA
|
11,340,795
|
15,673,186
|
Trade receivables -
YPF SA and YPF Energía Eléctrica SA
|
278,469
|
359,175
|
Trade receivables -
Large users
|
902,024
|
453,610
|
Receivables from
associates, shareholders and other related parties
|
181,769
|
927
|
Other
receivables
|
1,773,340
|
1,294,434
|
|
14,476,397
|
17,781,332
|
|
|
|
Allowance for
doubtful accounts - Exhibit E
|
(15,884)
|
(14,254)
|
|
14,460,513
|
17,767,078
|
English translation of the consolidated financial statements
originally filed in Spanish with the Argentine Securities
Commission (“CNV”).
In case of discrepancy, the consolidated financial statements filed
with the CNV prevail over this translation.
|
CENTRAL
PUERTO S.A.
|
|
|
|
Past
due
|
||||
|
Total
|
To
due
|
90
days
|
90-180
days
|
180-270
days
|
270-360
days
|
More than 360
days
|
|
ARS
000
|
ARS
000
|
ARS
000
|
ARS
000
|
ARS
000
|
ARS
000
|
ARS
000
|
|
|
|
|
|
|
|
|
06-30-20
|
40,856,634
|
38,134,243
|
2,683,198
|
-
|
17,742
|
3,991
|
17,460
|
12-31-19
|
45,312,496
|
41,881,764
|
3,405,735
|
4,866
|
4,087
|
-
|
16,044
|
|
06-30-2020
|
12-31-2019
|
|
ARS
000
|
ARS
000
|
Current:
|
|
|
Trade and other
payables
|
1,997,271
|
6,318,726
|
Insurance
payable
|
-
|
359,930
|
Payables to
associates and other related parties
|
21,793
|
22,711
|
|
2,019,064
|
6,701,367
|
|
06-30-2020
|
12-31-2019
|
|
ARS
000
|
ARS
000
|
Non-current
|
|
|
|
|
|
Long-term loans for
project financing (Notes 7.3.1, 7.3.2, 7.3.3, 7.3.4, 7.3.5, 7.3.6
and 7.3.8)
|
28,079,579
|
34,519,981
|
Derivative
financial liabilities not designated as hedging instrument -
Interest rate swap (Note 7.4)
|
1,203,591
|
338,729
|
|
29,283,170
|
34,858,710
|
Current
|
|
|
|
|
|
Long-term loans for
project financing (Notes 7.3.1, 7.3.2, 7.3.3, 7.3.4, 7.3.5, 7.3.6
and 7.3.8)
|
12,988,766
|
7,431,237
|
Short-term loans -
Banco Macro S.A. (Note 7.3.7)
|
-
|
1,269,890
|
Bank and investment
accounts overdrafts
|
19,061
|
415,754
|
|
13,007,827
|
9,116,881
|
English translation of the consolidated financial statements
originally filed in Spanish with the Argentine Securities
Commission (“CNV”).
In case of discrepancy, the consolidated financial statements filed
with the CNV prevail over this translation.
|
CENTRAL
PUERTO S.A.
|
English translation of the consolidated financial statements
originally filed in Spanish with the Argentine Securities
Commission (“CNV”).
In case of discrepancy, the consolidated financial statements filed
with the CNV prevail over this translation.
|
CENTRAL
PUERTO S.A.
|
English translation of the consolidated financial statements
originally filed in Spanish with the Argentine Securities
Commission (“CNV”).
In case of discrepancy, the consolidated financial statements filed
with the CNV prevail over this translation.
|
CENTRAL
PUERTO S.A.
|
English translation of the consolidated financial statements
originally filed in Spanish with the Argentine Securities
Commission (“CNV”).
In case of discrepancy, the consolidated financial statements filed
with the CNV prevail over this translation.
|
CENTRAL
PUERTO S.A.
|
English translation of the consolidated financial statements
originally filed in Spanish with the Argentine Securities
Commission (“CNV”).
In case of discrepancy, the consolidated financial statements filed
with the CNV prevail over this translation.
|
CENTRAL
PUERTO S.A.
|
|
|
Fair value
measurement using:
|
|||
06-30-2020
|
Measurement
date
|
Total
|
Level
1
|
Level
2
|
Level
3
|
|
|
ARS
000
|
ARS
000
|
ARS
000
|
ARS
000
|
Assets
measured at fair value
|
|
|
|
|
|
|
|
|
|
|
|
Financial assets at
fair value through profit or loss
|
|
|
|
|
|
Mutual
funds
|
06.30.2020
|
3,035,729
|
3,035,729
|
-
|
-
|
Public debt
securities
|
06.30.2020
|
1,354,695
|
1,354,695
|
-
|
-
|
Stocks
|
06.30.2020
|
46,081
|
46,081
|
-
|
-
|
Total
financial assets measured at fair value
|
|
4,436,505
|
4,436,505
|
-
|
-
|
|
|
|
|
|
|
Liabilities
measured at fair value
|
|
|
|
|
|
|
|
|
|
|
|
Derivative
financial liabilities not designated as hedging
instruments
|
|
|
|
|
|
Interest rate
swap
|
06.30.2020
|
1,203,591
|
-
|
1,203,591
|
-
|
Total
financial liabilities measured at fair value
|
|
1,203,591
|
-
|
1,203,591
|
-
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Fair value
measurement using:
|
|||
12-31-2019
|
Measurement
date
|
Total
|
Level
1
|
Level
2
|
Level
3
|
|
|
ARS
000
|
ARS
000
|
ARS
000
|
ARS
000
|
Assets
measured at fair value
|
|
|
|
|
|
|
|
|
|
|
|
Financial assets at
fair value through profit or loss
|
|
|
|
|
|
Mutual
funds
|
12.31.2019
|
4,811,319
|
4,811,319
|
-
|
-
|
Public debt
securities
|
12.31.2019
|
3,933,930
|
3,933,930
|
-
|
-
|
Total
financial assets measured at fair value
|
|
8,745,249
|
8,745,249
|
-
|
-
|
|
|
|
|
|
|
Liabilities
measured at fair value
|
|
|
|
|
|
|
|
|
|
|
|
Derivative
financial liabilities not designated as hedging
instruments
|
|
|
|
|
|
Interest rate
swap
|
12.31.2019
|
338,729
|
-
|
338,729
|
-
|
Total
financial liabilities measured at fair value
|
|
338,729
|
-
|
338,729
|
-
|
English translation of the consolidated financial statements
originally filed in Spanish with the Argentine Securities
Commission (“CNV”).
In case of discrepancy, the consolidated financial statements filed
with the CNV prevail over this translation.
|
CENTRAL
PUERTO S.A.
|
|
06-30-2020
|
12-31-2019
|
|
ARS
000
|
ARS
000
|
Non-current:
|
|
|
Tax
credits
|
401,386
|
633,089
|
Income tax
credits
|
127,441
|
144,765
|
Prepayments to
vendors
|
4,414
|
5,014
|
|
533,241
|
782,868
|
Current:
|
|
|
Upfront payments of
inventories purchases
|
125,880
|
241,786
|
Prepayment
insurance
|
217,823
|
495,611
|
Tax
credits
|
610,488
|
328,606
|
Other
|
67,235
|
77,027
|
|
1,021,426
|
1,143,030
|
|
06-30-2020
|
12-31-2019
|
|
ARS
000
|
ARS
000
|
Non-current:
|
|
|
VAT
payable
|
4,566,016
|
4,732,852
|
Tax on bank account
transactions payable
|
175,243
|
213,762
|
|
4,741,259
|
4,946,614
|
|
|
|
Current:
|
|
|
VAT
payable
|
857,935
|
1,575,922
|
Turnover tax
payable
|
56,077
|
66,718
|
Income tax
withholdings payable
|
38,882
|
51,903
|
Concession fees and
royalties
|
29,274
|
71,431
|
Tax on bank account
transactions payable
|
137,477
|
154,020
|
Others
|
6,340
|
50,111
|
|
1,125,985
|
1,970,105
|
|
06-30-2020
|
12-31-2019
|
|
ARS
000
|
ARS
000
|
Non-current:
|
|
|
Employee long-term
benefits
|
280,929
|
260,446
|
|
|
|
Current:
|
|
|
Vacation and
statutory bonus
|
275,416
|
275,381
|
Contributions
payable
|
103,382
|
108,899
|
Bonus
accrual
|
211,791
|
404,105
|
Other
|
5,023
|
5,302
|
|
595,612
|
793,687
|
English translation of the consolidated financial statements
originally filed in Spanish with the Argentine Securities
Commission (“CNV”).
In case of discrepancy, the consolidated financial statements filed
with the CNV prevail over this translation.
|
CENTRAL
PUERTO S.A.
|
|
|
Income
|
Expenses
|
Receivables
|
Payables
|
|
|
ARS
000
|
ARS
000
|
ARS
000
|
ARS
000
|
|
|
|
|
|
|
Associates:
|
|
|
|
|
|
|
|
|
|
|
|
Termoeléctrica
José de San Martín S.A.
|
06-30-2020
|
253
|
-
|
51
|
-
|
|
06-30-2019
|
140
|
-
|
54
|
-
|
|
12-31-2019
|
537
|
-
|
306
|
-
|
|
|
|
|
|
|
Distribuidora de
Gas Cuyana S.A.
|
06-30-2020
|
-
|
164,566
|
-
|
21,245
|
|
06-30-2019
|
-
|
246,786
|
-
|
41,566
|
|
12-31-2019
|
-
|
492,703
|
-
|
21,919
|
|
|
|
|
|
|
Energía
Sudamericana S.A.
|
06-30-2020
|
-
|
-
|
-
|
548
|
|
06-30-2019
|
-
|
-
|
-
|
782
|
|
12-31-2019
|
-
|
-
|
-
|
622
|
|
|
|
|
|
|
Related
companies:
|
|
|
|
|
|
|
|
|
|
|
|
RMPE
Asociados S.A.
|
06-30-2020
|
114
|
282,050
|
-
|
-
|
|
06-30-2019
|
111
|
175,977
|
-
|
-
|
|
12-31-2019
|
202
|
408,119
|
-
|
-
|
|
|
|
|
|
|
Coyserv
S.A.
|
06-30-2020
|
-
|
2,469
|
-
|
-
|
|
06-30-2019
|
-
|
17,635
|
-
|
-
|
|
12-31-2019
|
-
|
35,142
|
621
|
170
|
Total
|
06-30-2020
|
367
|
449,085
|
51
|
21,793
|
|
06-30-2019
|
251
|
440,398
|
54
|
42,348
|
|
12-31-2019
|
739
|
935,964
|
927
|
22,711
|
English translation of the consolidated financial statements
originally filed in Spanish with the Argentine Securities
Commission (“CNV”).
In case of discrepancy, the consolidated financial statements filed
with the CNV prevail over this translation.
|
CENTRAL
PUERTO S.A.
|
English translation of the consolidated financial statements
originally filed in Spanish with the Argentine Securities
Commission (“CNV”).
In case of discrepancy, the consolidated financial statements filed
with the CNV prevail over this translation.
|
CENTRAL
PUERTO S.A.
|
English translation of the consolidated financial statements
originally filed in Spanish with the Argentine Securities
Commission (“CNV”).
In case of discrepancy, the consolidated financial statements filed
with the CNV prevail over this translation.
|
CENTRAL
PUERTO S.A.
|
English translation of the consolidated financial statements
originally filed in Spanish with the Argentine Securities
Commission (“CNV”).
In case of discrepancy, the consolidated financial statements filed
with the CNV prevail over this translation.
|
CENTRAL
PUERTO S.A.
|
English translation of the consolidated financial statements
originally filed in Spanish with the Argentine Securities
Commission (“CNV”).
In case of discrepancy, the consolidated financial statements filed
with the CNV prevail over this translation.
|
CENTRAL
PUERTO S.A.
|
English translation of the consolidated financial statements
originally filed in Spanish with the Argentine Securities
Commission (“CNV”).
In case of discrepancy, the consolidated financial statements filed
with the CNV prevail over this translation.
|
CENTRAL
PUERTO S.A.
|
English translation of the consolidated financial statements
originally filed in Spanish with the Argentine Securities
Commission (“CNV”).
In case of discrepancy, the consolidated financial statements filed
with the CNV prevail over this translation.
|
CENTRAL
PUERTO S.A.
|
English translation of the consolidated financial statements
originally filed in Spanish with the Argentine Securities
Commission (“CNV”).
In case of discrepancy, the consolidated financial statements filed
with the CNV prevail over this translation.
|
|
06-30-2020
|
|
||||
|
Cost
|
|||||
|
At the
beginning
|
Additions
|
Transfers
|
Disposals
|
At the
end
|
|
|
ARS
000
|
ARS
000
|
ARS
000
|
ARS
000
|
ARS
000
|
|
|
||||||
Lands and
buildings
|
7,171,403
|
-
|
(555,176)
|
-
|
6,616,227
|
|
Electric power
facilities
|
49,956,813
|
61,621
|
1,088,924
|
-
|
51,107,358
|
|
Wind turbines
|
11,218,836
|
-
|
2,427,955
|
-
|
13,646,791
|
|
Gas turbines
|
5,501,584
|
-
|
-
|
-
|
5,501,584
|
|
Construction in
progress
|
25,878,157
|
5,303,082
|
(3,447,257)
|
-
|
27,733,982
|
|
Other
|
2,776,323
|
65,012
|
441,566
|
(1,438)
|
3,281,463
|
|
Total
06-30-2020
|
102,503,116
|
5,429,715
|
(43,988)(1)
|
(1,438)
|
107,887,405
|
|
|
06-30-2020
|
12-31-2019
|
||||
|
Depreciation and
impairment
|
|
|
|||
|
At the
beginning
|
Charges
|
Impairment
|
At the
end
|
Net book
value
|
Net book
value
|
|
ARS
000
|
ARS
000
|
ARS
000
|
ARS
000
|
ARS
000
|
|
|
|
|
|
|
|
|
Lands and
buildings
|
1,000,173
|
140,303
|
-
|
1,140,476
|
5,475,751
|
6,171,230
|
Electric power
facilities
|
30,408,977
|
987,138
|
-
|
31,396,115
|
19,711,243
|
19,547,836
|
Wind turbines
|
508,729
|
331,239
|
-
|
839,968
|
12,806,823
|
10,710,107
|
Gas turbines
|
-
|
-
|
-
|
-
|
5,501,584
|
5,501,584
|
Impairment of gas turbines
(2)
|
1,414,968
|
-
|
1,251,730
|
2,666,698
|
(2,666,698)
|
(1,414,968)
|
Impairment of electric power
facilities and construction in progress (2)
|
2,364,945
|
(36,058)
|
-
|
2,328,887
|
(2,328,887)
|
(2,364,945)
|
Construction in
progress
|
-
|
-
|
-
|
-
|
27,733,982
|
25,878,157
|
Other
|
2,401,599
|
47,405
|
-
|
2,449,004
|
832,459
|
374,724
|
Total
06-30-2020
|
38,099,391
|
1,470,027
|
1,251,730
|
40,821,148
|
67,066,257
|
64,403,725
|
English translation of the consolidated financial statements
originally filed in Spanish with the Argentine Securities
Commission (“CNV”).
In case of discrepancy, the consolidated financial statements filed
with the CNV prevail over this translation.
|
|
06-30-2020
|
||
|
Cost
|
||
|
At the
beginning
|
Transfers
|
At the
end
|
|
ARS
000
|
ARS
000
|
ARS
000
|
|
|
|
|
Concession
right
|
13,813,025
|
-
|
13,813,025
|
Transmission lines and electrical
substations for wind farms
|
2,298,153
|
43,988
|
2,342,141
|
Turbogas and turbosteam supply
agreements for thermal station Brigadier López (“BL
contracts”)
|
6,922,807
|
-
|
6,922,807
|
Total
06-30-2020
|
23,033,985
|
43,988(2)
|
23,077,973
|
|
06-30-2020
|
12-31-2019
|
||||
|
Amortization and
impairment
|
|
|
|||
|
At
the beginning
|
%
|
Charges
|
At
the end
|
Net book
value
|
Net book
value
|
|
ARS
000
|
|
ARS
000
|
ARS
000
|
ARS
000
|
ARS
000
|
|
|
|
|
|
|
|
Concession right
|
11,509,364
|
3.3
|
287,958
|
11,797,322
|
2,015,703
|
2,303,661
|
Transmission lines and electrical
substations for wind farms
|
1,305,735
|
5
|
27,837
|
1,333,572
|
1,008,569
|
992,418
|
Turbogas and turbosteam supply
agreements for thermal station Brigadier López (“BL
contracts”)
|
965,971
|
|
827,975
|
1,793,946
|
5,128,861
|
5,956,836
|
BL contracts impairment
(1)
|
1,223,245
|
|
(170,026)
|
1,053,219
|
(1,053,219)
|
(1,223,245)
|
Total
06-30-2020
|
15,004,315
|
|
973,744
|
15,978,059
|
7,099,914
|
8,029,670
|
English translation of the consolidated financial statements
originally filed in Spanish with the Argentine Securities
Commission (“CNV”).
In case of discrepancy, the consolidated financial statements filed
with the CNV prevail over this translation.
|
|
06-30-2020
|
12-31-2019
|
||||
Item
|
At
beginning
|
Increases
|
Decreases
|
Recoveries
|
At
end
|
At
end
|
|
ARS
000
|
ARS
000
|
ARS
000
|
ARS
000
|
ARS
000
|
ARS
000
|
|
|
|
|
|
|
|
ASSETS
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-current
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Inventories
|
140,451
|
-
|
(16,807)(1)
|
-
|
123,644
|
140,451
|
|
|
|
|
|
|
|
Trade and other
receivables
|
|
|
|
|
|
|
Allowance for doubtful accounts -
Trade receivables
|
14,254
|
4,276
|
(1,721)(1)
|
(925)
|
15,884
|
14,254
|
Total
06-30-2020
|
154,705
|
4,276
|
(18,528)
|
(925)
|
139,528
|
|
Total
12-31-2019
|
167,367
|
46,063
|
(58,725)(1)
|
-
|
|
154,705
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
LIABILITIES
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Current
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Provisions
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Provision for lawsuits and
claims
|
31,188
|
695
|
(3,707)(1)
|
(840)
|
27,336
|
31,188
|
Total
06-30-2020
|
31,188
|
695
|
(3,707)
|
(840)
|
27,336
|
|
Total
12-31-2019
|
939,244
|
6,000
|
(914,056)(2)
|
-
|
|
31,188
|
English translation of the consolidated financial statements
originally filed in Spanish with the Argentine Securities
Commission (“CNV”).
In case of discrepancy, the consolidated financial statements filed
with the CNV prevail over this translation.
|
|
6
months
|
3
months
|
||
|
01-01-2020 to
06-30-2020
|
01-01-2019 to
06-30-2019
|
04-01-2020 to
06-30-2020
|
04-01-2019 to
06-30-2019
|
|
ARS
000
|
ARS
000
|
ARS
000
|
ARS
000
|
|
|
|
|
|
Inventories at beginning of each
period
|
910,749
|
516,511
|
921,541
|
593,708
|
|
|
|
|
|
Purchases and operating expenses
for each period:
|
|
|
|
|
|
|
|
|
|
- Purchases
|
1,366,963
|
6,222,763
|
671,066
|
2,618,046
|
- Operating expenses (Exhibit
H)
|
5,634,254
|
4,271,576
|
2,822,559
|
2,078,546
|
|
7,001,217
|
10,494,339
|
3,493,625
|
4,696,592
|
|
|
|
|
|
Inventories at the end of each
period
|
(1,039,902)
|
(610,618)
|
(1,039,902)
|
(610,618)
|
Total sales
costs
|
6,872,064
|
10,400,232
|
3,375,264
|
4,679,682
|
English translation of the consolidated financial statements
originally filed in Spanish with the Argentine Securities
Commission (“CNV”).
In case of discrepancy, the consolidated financial statements filed
with the CNV prevail over this translation.
|
|
06-30-2020
|
12-31-2019
|
|||||
Account
|
Currency and
amount (in thousands)
|
Effective
exchange rate (1)
|
Bookvalue
|
Currency and
amount (in thousands)
|
Bookvalue
|
||
|
|
|
|
ARS
000
|
|
|
ARS
000
|
NON-CURRENT
ASSETS
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Trade and other
receivables
|
USD
|
374,648
|
70.4550(2)
|
26,395,837
|
USD
|
404,860
|
27,545,369
|
|
|
|
26,395,837
|
|
|
27,545,369
|
|
CURRENT
ASSETS
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash and cash
equivalents
|
USD
|
27,307
|
70.2600
|
1,918,590
|
USD
|
29,834
|
2,022,860
|
|
EUR
|
2
|
78.8669
|
158
|
EUR
|
1
|
76
|
Other financial
assets
|
USD
|
9,992
|
70.2600
|
702,038
|
USD
|
97,220
|
6,591,872
|
Trade and other
receivables
|
USD
|
68,782
|
70.4550(2)
|
4,846,036
|
USD
|
79,002
|
5,375,044
|
|
USD
|
13,555
|
70.2600
|
952,374
|
USD
|
8,837
|
599,183
|
|
|
|
8,419,196
|
|
|
14,589,035
|
|
|
|
|
34,815,033
|
|
|
42,134,404
|
|
|
|
|
|
|
|
|
|
NON-CURRENT
LIABILITIES
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other loans and
borrowings
|
USD
|
429,741
|
70.4600
|
30,279,551
|
USD
|
532,441
|
36,222,528
|
|
|
|
30,279,551
|
|
|
36,222,528
|
|
|
|
|
|
|
|
|
|
CURRENT
LIABILITIES
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other loans and
borrowings
|
USD
|
189,756
|
70.4600
|
13,370,208
|
USD
|
110,804
|
7,538,115
|
Trade and other
payables
|
USD
|
23,595
|
70.4600
|
1,662,504
|
USD
|
22,537
|
1,533,216
|
|
EUR
|
283
|
79.2675
|
22,433
|
EUR
|
291
|
22,222
|
|
|
|
15,055,145
|
|
|
9,093,553
|
|
|
|
|
45,334,696
|
|
|
45,316,081
|
English translation of the consolidated financial statements
originally filed in Spanish with the Argentine Securities
Commission (“CNV”).
In case of discrepancy, the consolidated financial statements filed
with the CNV prevail over this translation.
|
|
6
months
|
|||||
|
01-01-2020 to
06-30-2020
|
01-01-2019 to
06-30-2019
|
||||
Accounts
|
Operating
expenses
|
Administrative
and selling expenses
|
Total
|
Operating
expenses
|
Administrative
and selling expenses
|
Total
|
|
ARS
000
|
ARS
000
|
ARS
000
|
ARS
000
|
ARS
000
|
ARS
000
|
|
|
|
|
|
|
|
Compensation to
employees
|
1,241,220
|
423,544
|
1,664,764
|
1,404,895
|
432,022
|
1,836,917
|
Other long-term employee
benefits
|
48,298
|
8,498
|
56,796
|
25,856
|
4,383
|
30,239
|
Depreciation of property, plant and
equipment
|
1,458,787
|
11,240
|
1,470,027
|
923,325
|
-
|
923,325
|
Amortization of intangible
assets
|
973,047
|
697
|
973,744
|
316,359
|
-
|
316,359
|
Purchase of energy and
power
|
70,180
|
-
|
70,180
|
57,854
|
22,405
|
80,259
|
Fees and compensation for
services
|
459,553
|
342,776
|
802,329
|
319,313
|
286,454
|
605,767
|
Maintenance
expenses
|
657,253
|
88,991
|
746,244
|
647,157
|
100,321
|
747,478
|
Consumption of materials and spare
parts
|
200,166
|
-
|
200,166
|
181,759
|
-
|
181,759
|
Insurance
|
309,426
|
10,191
|
319,617
|
169,495
|
3,983
|
173,478
|
Levies and
royalties
|
185,916
|
-
|
185,916
|
181,068
|
-
|
181,068
|
Taxes and
assessments
|
20,045
|
135,922
|
155,967
|
16,095
|
98,185
|
114,280
|
Tax on bank account
transactions
|
2,805
|
173,711
|
176,516
|
2,899
|
331,167
|
334,066
|
Others
|
7,558
|
18,852
|
26,410
|
25,501
|
32,299
|
57,800
|
Total
|
5,634,254
|
1,214,422
|
6,848,676
|
4,271,576
|
1,311,219
|
5,582,795
|
English translation of the consolidated financial statements
originally filed in Spanish with the Argentine Securities
Commission (“CNV”).
In case of discrepancy, the consolidated financial statements filed
with the CNV prevail over this translation.
|
|
3
months
|
|||||
|
04-01-2020 to
06-30-2020
|
04-01-2019 to
06-30-2019
|
||||
Accounts
|
Operating
expenses
|
Administrative
and selling expenses
|
Total
|
Operating
expenses
|
Administrative
and selling expenses
|
Total
|
|
ARS
000
|
ARS
000
|
ARS
000
|
ARS
000
|
ARS
000
|
ARS
000
|
|
|
|
|
|
|
|
Compensation to
employees
|
587,936
|
210,285
|
798,221
|
711,919
|
138,830
|
850,749
|
Other long-term employee
benefits
|
23,489
|
4,217
|
27,706
|
12,243
|
2,064
|
14,307
|
Depreciation of property, plant and
equipment
|
724,666
|
8,330
|
732,996
|
336,885
|
-
|
336,885
|
Amortization of intangible
assets
|
486,578
|
523
|
487,101
|
151,060
|
-
|
151,060
|
Purchase of energy and
power
|
46,116
|
-
|
46,116
|
25,345
|
20,048
|
45,393
|
Fees and compensation for
services
|
222,579
|
144,326
|
366,905
|
171,734
|
115,191
|
286,925
|
Maintenance
expenses
|
362,094
|
29,794
|
391,888
|
383,153
|
11,174
|
394,327
|
Consumption of materials and spare
parts
|
128,777
|
-
|
128,777
|
106,160
|
-
|
106,160
|
Insurance
|
150,117
|
4,839
|
154,956
|
80,620
|
2,949
|
83,569
|
Levies and
royalties
|
73,613
|
-
|
73,613
|
75,084
|
-
|
75,084
|
Taxes and
assessments
|
11,893
|
67,972
|
79,865
|
6,634
|
82,360
|
88,994
|
Tax on bank account
transactions
|
1,712
|
73,300
|
75,012
|
1,482
|
217,604
|
219,086
|
Others
|
2,989
|
10,871
|
13,860
|
16,227
|
10,396
|
26,623
|
Total
|
2,822,559
|
554,457
|
3,377,016
|
2,078,546
|
600,616
|
2,679,162
|
English translation of the consolidated financial statements
originally filed in Spanish with the Argentine Securities
Commission (“CNV”).
In case of discrepancy, the consolidated financial statements filed
with the CNV prevail over this translation.
|
CENTRAL
PUERTO S.A.
|
|
6
months
|
3
months
|
||
|
Unaudited
|
Unaudited
|
||
|
01-01-2020 to
06-30-2020
|
01-01-2019 to
06-30-2019
|
04-01-2020 to
06-30-2020
|
04-01-2019 to
06-30-2019
|
|
ARS
000
|
ARS
000
|
ARS
000
|
ARS
000
|
|
|
|
|
|
Revenues
|
12,583,983
|
16,405,905
|
5,617,730
|
7,514,966
|
Cost of
sales
|
(5,994,646)
|
(9,853,253)
|
(2,901,982)
|
(4,387,961)
|
Gross
income
|
6,589,337
|
6,552,652
|
2,715,748
|
3,127,005
|
|
|
|
|
|
Administrative and
selling expenses
|
(1,057,350)
|
(1,165,480)
|
(478,910)
|
(522,237)
|
Other operating
income
|
6,999,489
|
5,579,030
|
3,492,766
|
996,566
|
Other operating
expenses
|
(298,483)
|
(80,174)
|
(172,576)
|
(43,291)
|
Impairment of
property, plant and equipment
|
(1,251,730)
|
-
|
(435,663)
|
-
|
Operating
income
|
10,981,263
|
10,886,028
|
5,121,365
|
3,558,043
|
|
|
|
|
|
Loss on net
monetary position
|
(1,738,070)
|
(5,738,720)
|
(761,554)
|
(2,608,966)
|
Finance
income
|
1,509,829
|
1,450,315
|
1,094,346
|
823,505
|
Finance
expenses
|
(5,065,569)
|
(1,311,990)
|
(2,663,463)
|
(798,470)
|
Share of the profit
of associates and subsidiaries
|
(702,808)
|
1,155,796
|
(359,748)
|
1,246,529
|
Income
before income tax
|
4,984,645
|
6,441,429
|
2,430,946
|
2,220,641
|
|
|
|
|
|
Income tax for the
period
|
(1,807,401)
|
(2,817,709)
|
(236,466)
|
(566,769)
|
Net
income for the period
|
3,177,244
|
3,623,720
|
2,194,480
|
1,653,872
|
Total
comprehensive income for the period
|
3,177,244
|
3,623,720
|
2,194,480
|
1,653,872
|
|
|
|
|
|
- Basic
and diluted earnings per share (ARS)
|
2.11
|
2.41
|
1.46
|
1.10
|
English translation of the consolidated financial statements
originally filed in Spanish with the Argentine Securities
Commission (“CNV”).
In case of discrepancy, the consolidated financial statements filed
with the CNV prevail over this translation.
|
CENTRAL
PUERTO S.A.
|
|
|
06-30-2020
|
12-31-2019
|
|
Notes
|
Unaudited
|
Audited
|
|
|
ARS
000
|
ARS
000
|
Assets
|
|
|
|
Non-current
assets
|
|
|
|
Property, plant and
equipment
|
|
43,760,965
|
43,864,265
|
Intangible
assets
|
|
6,091,347
|
7,037,255
|
Investment in
associates
|
|
3,769,803
|
3,919,507
|
Investment in
subsidiaries
|
Exhibit
C
|
6,924,494
|
5,250,174
|
Trade and other
receivables
|
|
26,396,121
|
27,545,418
|
Other non-financial
assets
|
|
131,809
|
149,726
|
Other financial
assets
|
|
-
|
3,466,041
|
Inventories
|
|
155,762
|
163,766
|
|
87,230,301
|
91,396,152
|
|
Current
assets
|
|
|
|
Inventories
|
|
874,612
|
739,280
|
Other non-financial
assets
|
|
355,850
|
769,321
|
Trade and other
receivables
|
|
11,433,752
|
16,081,076
|
Other financial
assets
|
|
7,447,441
|
4,206,772
|
Cash and cash
equivalents
|
|
9,553
|
1,169,920
|
|
20,121,208
|
22,966,369
|
|
Total
assets
|
|
107,351,509
|
114,362,521
|
|
|
|
|
Equity
and liabilities
|
|
|
|
Capital
stock
|
|
1,514,022
|
1,514,022
|
Adjustment to
capital stock
|
|
21,126,025
|
21,126,025
|
Legal
reserve
|
|
3,202,398
|
2,702,087
|
Voluntary
reserve
|
|
40,450,730
|
30,114,738
|
Other equity
accounts
|
|
(1,640,520)
|
-
|
Retained
earnings
|
|
3,177,244
|
10,836,303
|
Total
equity
|
|
67,829,899
|
66,293,175
|
|
|
|
|
Non-current
liabilities
|
|
|
|
Other non-financial
liabilities
|
|
4,741,259
|
4,946,614
|
Other loans and
borrowings
|
|
11,824,313
|
18,000,939
|
Compensation and
employee benefits liabilities
|
|
269,638
|
260,446
|
Deferred income tax
liabilities
|
|
6,482,897
|
6,706,657
|
|
23,318,107
|
29,914,656
|
|
Current
liabilities
|
|
|
|
Trade and other
payables
|
|
1,860,458
|
6,067,890
|
Other non-financial
liabilities
|
|
968,229
|
1,824,609
|
Other loans and
borrowings
|
|
11,306,809
|
7,675,491
|
Compensation and
employee benefits liabilities
|
|
540,778
|
719,064
|
Income tax
payable
|
|
1,499,894
|
1,836,448
|
Provisions
|
|
27,335
|
31,188
|
|
16,203,503
|
18,154,690
|
|
Total
liabilities
|
|
39,521,610
|
48,069,346
|
Total
equity and liabilities
|
|
107,351,509
|
114,362,521
|
English translation of the consolidated financial statements
originally filed in Spanish with the Argentine Securities
Commission (“CNV”).
In case of discrepancy, the consolidated financial statements filed
with the CNV prevail over this translation.
|
CENTRAL
PUERTO S.A.
|
|
06-30-2020
|
06-30-2019
|
|
Unaudited
|
|
|
ARS
000
|
ARS
000
|
Operating
activities
|
|
|
Income for the
period before income tax
|
4,984,645
|
6,441,429
|
|
|
|
Adjustments
to reconcile income for the period before income tax to net cash
flows:
|
|
|
Depreciation of
property, plant and equipment
|
1,007,817
|
695,848
|
Amortization of
intangible assets
|
945,907
|
287,957
|
Impairment of
property, plant and equipment
|
1,251,730
|
-
|
Interest earned
from customers
|
(1,449,342)
|
(2,552,831)
|
Trade and tax
interests lost
|
295,274
|
120,944
|
Finance
income
|
(1,509,829)
|
(1,450,315)
|
Finance
expenses
|
5,065,569
|
1,311,990
|
Share of the profit
of associates and subsidiaries
|
702,808
|
(1,155,796)
|
Movements in
provisions and long-term employee benefit plan expense
|
52,911
|
110,380
|
Foreign exchange
difference for trade receivables
|
(5,549,580)
|
(3,019,457)
|
Loss on net
monetary position
|
(2,306,878)
|
(1,846,587)
|
|
|
|
Working
capital adjustments:
|
|
|
Decrease in trade
and other receivables
|
9,752,586
|
9,639,089
|
(Increase) Decrease
in other non-financial assets and inventories
|
304,060
|
(12,611)
|
(Decrease) Increase
in trade and other payables, other non-financial liabilities and
liabilities from employee benefits
|
(5,738,727)
|
89,674
|
|
7,808,951
|
8,659,714
|
|
|
|
Interest
received
|
1,282,441
|
2,425,474
|
Income tax
paid
|
(2,197,098)
|
(8,681,269)
|
Net
cash flows provided by operating activities
|
6,894,294
|
2,403,919
|
|
|
|
Investing
activities
|
|
|
Purchase of
property, plant and equipment
|
(2,260,518)
|
(6,090,719)
|
Acquisition of
Thermal Station Brigadier López
|
-
|
(9,617,330)
|
Loans granted to
subsidiaries, net
|
(1,051,892)
|
(258,162)
|
Dividends
received
|
187,071
|
167,006
|
(Acquisition) Sale
of other financial assets, net
|
(386,930)
|
989,311
|
Capital
contributions to subsidiaries
|
(1,702,886)
|
(971,582)
|
Net
cash flows used in investing activities
|
(5,215,155)
|
(15,781,476)
|
|
|
|
Financing
activities
|
|
|
Long-term loans
received
|
-
|
13,987,264
|
Bank and investment
accounts overdrafts received (paid), net
|
(1,628,252)
|
816,072
|
Long-term loans
paid
|
(172,636)
|
-
|
Interest and other
financial costs paid
|
(886,442)
|
(1,057,825)
|
Net
cash flows (used in) provided by financing activities
|
(2,687,330)
|
13,745,511
|
|
|
|
(Decrease)
Increase in cash and cash equivalents
|
(1,008,191)
|
367,954
|
Exchange difference
and other financial results
|
(96,393)
|
(82,597)
|
Monetary results
effect on cash and cash equivalents
|
(55,783)
|
66,830
|
Cash and cash
equivalents as of January 1
|
1,169,920
|
277,240
|
Cash
and cash equivalents as of June 30
|
9,553
|
629,427
|
English translation of the consolidated financial statements
originally filed in Spanish with the Argentine Securities
Commission (“CNV”).
In case of discrepancy, the consolidated financial statements filed
with the CNV prevail over this translation.
|
CENTRAL
PUERTO S.A.
|
English translation of the consolidated financial statements
originally filed in Spanish with the Argentine Securities
Commission (“CNV”).
In case of discrepancy, the consolidated financial statements filed
with the CNV prevail over this translation.
|
|
06-30-2020
|
12-31-2019
|
||||||||
Name and
characteristics of securities and issuers
|
|
Class
|
Face
value
|
Number
|
Cost
value
|
Listed
price
|
Value obtained
by the equity method
|
Share of profit
of subsidiaries
|
Book
value
|
Book
value
|
|
|
|
|
|
|
|
|
|
|
|
INVESTMENT IN
SUBSIDIARIES
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Central Vuelta de
Obligado S.A.
|
|
1 vote
|
1
|
280,950
|
281
|
Unlisted
|
91,867
|
39,060
|
91,867
|
120,212
|
CP
Renovables S.A.
|
|
1 vote
|
1
|
5,016,199,569
|
6,413,574
|
Unlisted
|
4,149,224
|
(23,528)
|
3,998,211
|
1,568,008
|
Central Aime
Paine S.A.
|
|
1 vote
|
1
|
97,000
|
97
|
Unlisted
|
97
|
-
|
97
|
110
|
Proener S.A.U.
|
|
1 vote
|
1
|
282,557
|
1
|
Unlisted
|
21,741
|
(10,884)
|
15,550
|
67,597
|
Vientos La Genoveva
S.A.U.
|
|
1 vote
|
1
|
1,615,451,861
|
1,615,452
|
Unlisted
|
1,522,161
|
(705,999)
|
1,829,595
|
2,535,595
|
Vientos La Genoveva II
S.A.U.
|
|
1 vote
|
1
|
498,293,542
|
498,294
|
Unlisted
|
770,192
|
30,523
|
989,174
|
958,652
|
|
|
|
|
|
|
|
(670,828)
|
6,924,494
|
5,250,174
|
|
|
Latest available
financial information
|
|||||
Name and
characteristics of securities and issuers
|
|
Date
|
Capital
stock
|
(Loss)
Income
|
Equity
|
|
Equity interest
%
|
|
|
|
|
|
|
|
|
INVESTMENT IN
SUBSIDIARIES
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Central Vuelta de
Obligado S.A.
|
|
06/30/2020
|
500
|
79,938
|
163,494
|
|
56.19%
|
CP
Renovables S.A.
|
|
06/30/2020
|
5,016,200
|
(33,612)
|
4,149,224
|
|
100.00%
|
Central Aime
Paine S.A.
|
|
06/30/2020
|
100
|
-
|
100
|
|
97.00%
|
Proener S.A.U.
|
|
06/30/2020
|
283
|
(10,884)
|
21,741
|
|
100.00%
|
Vientos La Genoveva
S.A.U.
|
|
06/30/2020
|
1,615,452
|
(705,999)
|
1,522,161
|
|
100.00%
|
Vientos La Genoveva II
S.A.U.
|
|
06/30/2020
|
498,294
|
36,235
|
770,192
|
|
100.00%
|
|
PISTRELLI,
HENRY MARTIN Y ASOCIADOS S.R.L. C.P.C.E.C.A.B.A. T° 1 –
F° 13
GERMÁN
E. CANTALUPI
Partner
Certified Public
Accountant (U.B.A.) C.P.C.E.C.A.B.A. T° 248 – F°
60
|
|
PISTRELLI,
HENRY MARTIN Y ASOCIADOS S.R.L. C.P.C.E.C.A.B.A. T° 1 –
F° 13
GERMÁN
E. CANTALUPI
Partner
Certified Public
Accountant (U.B.A.) C.P.C.E.C.A.B.A. T° 248 – F°
60
|
|
ARS 000
|
Income
(loss) for the period
|
|
attributable
to shareholders of the Company
|
3,177,244
|
attributable
to non-controlling shareholding
|
19,828
|
Total
income(loss) for the period- Income
|
3,197,072
|
|
ARS 000
|
Other
comprehensive income for the period
|
|
attributable
to shareholders of the Company
|
-
|
attributable
to non-controlling shareholding
|
-
|
Total
other comprehensive income for the period
|
-
|
|
ARS 000
|
Net
comprehensive income for the period
|
|
attributable
to shareholders of the Company
|
3,177,244
|
attributable
to non-controlling shareholding
|
19,828
|
Total
net comprehensive income for the period- Inome
|
3,197,072
|
|
ARS 000
|
Share
Capital – Face Value
|
1,514,022
|
Capital
adjustment
|
21,126,025
|
Statutory
Reserve
|
3,202,398
|
Optional
Reserve
|
40,450,730
|
Other
accounts of equity
|
(1,640,520)
|
Retained
earnings -Income (Loss) for the period
|
3,177,244
|
Non-controlling
shareholding
|
71,627
|
Total
|
67,901,526
|
|
|
attributable
to shareholders of the Company
|
67,829,899
|
attributable
to non-controlling shareholding
|
71,627
|
City of
Buenos Aires,
|
By
Statutory Audit Committee
|
August
26, 2020
|
CÉSAR
HALLADJIAN
|
|
Statutory
Auditor
|
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