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CONSOLIDATED BUSINESS SEGMENT INFORMATION | 12 Months Ended
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Dec. 31, 2023
CONSOLIDATED BUSINESS SEGMENT INFORMATION [Abstract] |
CONSOLIDATED BUSINESS SEGMENT INFORMATION |
7. | CONSOLIDATED BUSINESS SEGMENT INFORMATION
IFRS Accounting Standards 8 “Operating Segments” requires an entity to report financial and descriptive information about its reportable segments, which are operating segments or aggregations of operating segments that meet specified criteria. Operating segments are components of an entity about which separate financial information is available that is evaluated regularly by the chief operating decision maker (“CODM”) in deciding how to allocate resources and in assessing performance. The Company’s CODM is the Board of Directors. As of December 31, 2023, the Company changed the name of the Other Services business segment to Midstream. This modification does not alter the criteria for assigning income, costs, expenses, assets and liabilities adopted in the past or the comparative information presented. The Company analyzes its businesses into four segments: (i) Natural Gas Transportation Services, subject to ENARGAS regulations, (ii) Liquids Production and Commercialization, (iii) Midstream and (iv) Telecommunications. These last three business segments are not regulated by ENARGAS. Liquids Production and Commercialization business segment is regulated by the SE. Non-current assets are mostly located in the entity’s country of domicile. Detailed information on each business segment for the years ended December 31, 2023, 2022 and 2021 is disclosed below:
Year ended December 31, 2023 |
|  |  |  |  | Production and |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Natural Gas |  |  | Commercialization of |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Transportation |  |  | Liquids |  |  | Midstream |  |  | Telecommunications |  |  | Eliminations |  |  | Total |
Revenues |  |  | 99,052,395 |  |  |  | 265,413,067 |  |  |  | 85,614,680 |  |  |  | 2,728,612 |  |  |  | - |  |  |  | 452,808,754 |
Intersegment revenues |  |  | 2,809,126 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (2,809,126 | ) |  |  | - |
Cost of sales |  |  | (90,767,353 | ) |  |  | (161,942,800 | ) |  |  | (32,605,483 | ) |  |  | (2,239,234 | ) |  |  | 2,809,126 |  |  |  | (284,745,744 | )
Administrative expenses |  |  | (14,607,853 | ) |  |  | (3,204,974 | ) |  |  | (2,471,994 | ) |  |  | (160,434 | ) |  |  | - |  |  |  | (20,445,255 | )
Selling expenses |  |  | (7,906,362 | ) |  |  | (14,424,099 | ) |  |  | (7,683,464 | ) |  |  | (407,970 | ) |  |  | - |  |  |  | (30,421,895 | )
Other operating results |  |  | (813,350 | ) |  |  | (77,489 | ) |  |  | 132,052 |  |  |  | - |  |  |  | - |  |  |  | (758,787 | )
Operating profit |  |  | (12,233,397 | ) |  |  | 85,763,705 |  |  |  | 42,985,791 |  |  |  | (79,026 | ) |  |  | - |  |  |  | 116,437,073 |
Depreciation of property, plant and equipment |  |  | (40,555,152 | ) |  |  | (4,502,892 | ) |  |  | (15,569,642 | ) |  |  | - |  |  |  | - |  |  |  | (60,627,686 | )
|  | Natural Gas |  |  | Production and Commercialization of |  |  |  |  |  |  |  |  |  |
|  | Transportation |  |  | Liquids |  |  | Midstream |  |  | Telecommunications |  |  | Total |
Identifiable assets |  |  | 663,256,185 |  |  |  | 333,249,699 |  |  |  | 502,685,961 |  |  |  | 26,599,035 |  |  |  | 1,525,790,880 |
Identifiable liabilities |  |  | 325,592,353 |  |  |  | 23,465,448 |  |  |  | 299,050,047 |  |  |  | 22,008,138 |  |  |  | 670,115,986 |
Year ended December 31, 2022 |
|  |  |  |  | Production and |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Natural Gas |  |  | Commercialization of |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Transportation |  |  | Liquids |  |  | Midstream |  |  | Telecommunications |  |  | Eliminations |  |  | Total |
Revenues |  |  | 126,566,847 |  |  |  | 324,533,037 |  |  |  | 58,379,759 |  |  |  | 2,863,126 |  |  |  | - |  |  |  | 512,342,769 |
Intersegment revenues |  |  | 3,627,152 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (3,627,152 | ) |  |  | - |
Cost of sales |  |  | (91,420,235 | ) |  |  | (183,060,361 | ) |  |  | (26,181,847 | ) |  |  | (2,045,480 | ) |  |  | 3,627,152 |  |  |  | (299,080,771 | )
Administrative expenses |  |  | (13,175,069 | ) |  |  | (2,582,373 | ) |  |  | (1,953,283 | ) |  |  | (209,019 | ) |  |  | - |  |  |  | (17,919,744 | )
Selling expenses |  |  | (9,402,172 | ) |  |  | (17,868,518 | ) |  |  | (4,162,916 | ) |  |  | (341,175 | ) |  |  | - |  |  |  | (31,774,781 | )
Other operating results |  |  | (561,630 | ) |  |  | 118,148 |  |  |  | 205,261 |  |  |  | 0 |  |  |  | - |  |  |  | (238,221 | )
Operating profit |  |  | 15,634,893 |  |  |  | 121,139,933 |  |  |  | 26,286,974 |  |  |  | 267,452 |  |  |  | - |  |  |  | 163,329,252 |
Depreciation of property, plant and equipment |  |  | (44,797,434 | ) |  |  | (4,074,803 | ) |  |  | (12,078,552 | ) |  |  | - |  |  |  | - |  |  |  | (60,950,789 | )
|  |  |  |  | Production and |  |  |  |  |  |  |  |  |  |
|  | Natural Gas |  |  | Commercialization of |  |  |  |  |  |  |  |  |  |
|  | Transportation |  |  | Liquids |  |  | Midstream |  |  | Telecommunications |  |  | Total |
Identifiable assets |  |  | 698,770,492 |  |  |  | 248,394,528 |  |  |  | 320,338,223 |  |  |  | 15,783,444 |  |  |  | 1,283,286,687 |
Identifiable liabilities |  |  | 213,757,357 |  |  |  | 24,731,014 |  |  |  | 198,581,048 |  |  |  | 14,060,406 |  |  |  | 451,129,825 |
Year ended December 31, 2021 |
|  |  |  |  | Production and |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Natural Gas |  |  | Commercialization of |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Transportation |  |  | Liquids |  |  | Midstream |  |  | Telecommunications |  |  | Eliminations |  |  | Total |
Revenues |  |  | 148,634,694 |  |  |  | 338,063,360 |  |  |  | 50,253,829 |  |  |  | 2,779,288 |  |  |  | - |  |  |  | 539,731,171 |
Intersegment revenues |  |  | 5,461,629 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (5,461,629 | ) |  |  | - |
Cost of sales |  |  | (94,663,455 | ) |  |  | (175,262,050 | ) |  |  | (22,716,039 | ) |  |  | (1,941,542 | ) |  |  | 5,461,629 |  |  |  | (289,121,457 | )
Administrative expenses |  |  | (11,896,541 | ) |  |  | (2,068,133 | ) |  |  | (1,450,879 | ) |  |  | (142,582 | ) |  |  | - |  |  |  | (15,558,135 | )
Selling expenses |  |  | (10,443,853 | ) |  |  | (15,225,336 | ) |  |  | (3,145,578 | ) |  |  | (269,349 | ) |  |  | - |  |  |  | (29,084,116 | )
Other operating results |  |  | (1,235,653 | ) |  |  | 1,952,096 |  |  |  | 62,590 |  |  |  | 2,367 |  |  |  | - |  |  |  | 781,400 |
Operating profit |  |  | 35,856,821 |  |  |  | 147,459,937 |  |  |  | 23,003,923 |  |  |  | 428,182 |  |  |  | - |  |  |  | 206,748,863 |
Depreciation of property, plant and equipment |  |  | (43,111,810 | ) |  |  | (3,720,829 | ) |  |  | (11,466,450 | ) |  |  | - |  |  |  | - |  |  |  | (58,299,089 | )
|  |  |  |  | Production and |  |  |  |  |  |  |  |  |  |
|  | Natural Gas |  |  | Commercialization of |  |  |  |  |  |  |  |  |  |
|  | Transportation |  |  | Liquids |  |  | Midstream |  |  | Telecommunications |  |  | Total |
Identifiable assets |  |  | 755,351,383 |  |  |  | 233,222,088 |  |  |  | 271,943,691 |  |  |  | 2,302,853 |  |  |  | 1,262,820,015 |
Identifiable liabilities |  |  | 243,054,283 |  |  |  | 66,653,975 |  |  |  | 220,958,204 |  |  |  | 636,797 |  |  |  | 531,303,259 |

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