New Risk • May 20
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Argentinean stocks, typically moving 7.9% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (7.9% average weekly change). Minor Risk Profit margins are more than 30% lower than last year (9.9% net profit margin). New Risk • May 19
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 9.9% Last year net profit margin: 15% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (7.7% average weekly change). Profit margins are more than 30% lower than last year (9.9% net profit margin). Reported Earnings • May 11
First quarter 2026 earnings released: EPS: AR$38.05 (vs AR$42.69 in 1Q 2025) First quarter 2026 results: EPS: AR$38.05 (down from AR$42.69 in 1Q 2025). Revenue: AR$283.1b (up 30% from 1Q 2025). Net income: AR$21.7b (down 11% from 1Q 2025). Profit margin: 7.6% (down from 11% in 1Q 2025). The decrease in margin was driven by higher expenses. Valuation Update With 7 Day Price Move • Mar 12
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to US$1.49, the stock trades at a trailing P/E ratio of 9x. Average trailing P/E is 9x in the Gas Utilities industry in Argentina. Total loss to shareholders of 11% over the past year. Reported Earnings • Nov 10
Third quarter 2025 earnings released: EPS: AR$83.00 (vs AR$77.56 in 3Q 2024) Third quarter 2025 results: EPS: AR$83.00 (up from AR$77.56 in 3Q 2024). Revenue: AR$366.3b (up 13% from 3Q 2024). Net income: AR$47.2b (up 7.0% from 3Q 2024). Profit margin: 13% (in line with 3Q 2024). Valuation Update With 7 Day Price Move • Oct 09
Investor sentiment improves as stock rises 27% After last week's 27% share price gain to US$1.10, the stock trades at a trailing P/E ratio of 8.6x. Average trailing P/E is 6x in the Gas Utilities industry in Argentina. Negligible returns to shareholders over past year. Valuation Update With 7 Day Price Move • Sep 23
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to US$1.03, the stock trades at a trailing P/E ratio of 8x. Average trailing P/E is 6x in the Gas Utilities industry in Argentina. Valuation Update With 7 Day Price Move • Aug 25
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to US$1.27, the stock trades at a trailing P/E ratio of 9.2x. Average trailing P/E is 6x in the Gas Utilities industry in Argentina. Reported Earnings • Aug 11
Second quarter 2025 earnings released: EPS: AR$55.61 (vs AR$107 in 2Q 2024) Second quarter 2025 results: EPS: AR$55.61 (down from AR$107 in 2Q 2024). Revenue: AR$285.9b (up 6.1% from 2Q 2024). Net income: AR$31.6b (down 48% from 2Q 2024). Profit margin: 11% (down from 23% in 2Q 2024). The decrease in margin was driven by higher expenses. Valuation Update With 7 Day Price Move • Jul 29
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to US$1.70, the stock trades at a trailing P/E ratio of 8.4x. Average trailing P/E is 8x in the Gas Utilities industry in Argentina. Buy Or Sell Opportunity • Jul 23
Now 21% overvalued Over the last 90 days, the stock has fallen 15% to US$1.50. The fair value is estimated to be US$1.24, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 55% over the last 3 years. Meanwhile, the company has become profitable. Buy Or Sell Opportunity • Jun 25
Now 27% overvalued Over the last 90 days, the stock has fallen 1.8% to US$1.67. The fair value is estimated to be US$1.31, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 55% over the last 3 years. Meanwhile, the company has become profitable. Valuation Update With 7 Day Price Move • May 16
Investor sentiment improves as stock rises 30% After last week's 30% share price gain to US$2.04, the stock trades at a trailing P/E ratio of 9x. Average trailing P/E is 8x in the Gas Utilities industry in Argentina. Reported Earnings • May 12
First quarter 2025 earnings released: EPS: AR$40.12 (vs AR$39.84 in 1Q 2024) First quarter 2025 results: EPS: AR$40.12 (up from AR$39.84 in 1Q 2024). Revenue: AR$205.2b (up 167% from 1Q 2024). Net income: AR$22.8b (flat on 1Q 2024). Profit margin: 11% (down from 30% in 1Q 2024). The decrease in margin was driven by higher expenses. Valuation Update With 7 Day Price Move • Apr 19
Investor sentiment improves as stock rises 24% After last week's 24% share price gain to US$1.64, the stock trades at a trailing P/E ratio of 7.1x. Average trailing P/E is 10x in the Gas Utilities industry in Argentina. Valuation Update With 7 Day Price Move • Apr 04
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to US$1.38, the stock trades at a trailing P/E ratio of 6.7x. Average trailing P/E is 12x in the Gas Utilities industry in Argentina. 공시 • Mar 21
MetroGAS S.A., Annual General Meeting, Apr 25, 2025 MetroGAS S.A., Annual General Meeting, Apr 25, 2025. Location: gregorio araoz de lamadrid 1360, buenos aires Argentina New Risk • Mar 10
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 17% Last year net profit margin: 29% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (8.9% average weekly change). Profit margins are more than 30% lower than last year (17% net profit margin). Reported Earnings • Mar 10
Full year 2024 earnings released: EPS: AR$271 (vs AR$168 in FY 2023) Full year 2024 results: EPS: AR$271 (up from AR$168 in FY 2023). Revenue: AR$925.1b (up 182% from FY 2023). Net income: AR$154.4b (up 62% from FY 2023). Profit margin: 17% (down from 29% in FY 2023). The decrease in margin was driven by higher expenses. Valuation Update With 7 Day Price Move • Feb 27
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to US$1.72, the stock trades at a trailing P/E ratio of 12.5x. Average trailing P/E is 15x in the Gas Utilities industry in Argentina. Valuation Update With 7 Day Price Move • Jan 17
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to US$2.09, the stock trades at a trailing P/E ratio of 14.7x. Average trailing P/E is 17x in the Gas Utilities industry in Argentina. Valuation Update With 7 Day Price Move • Dec 06
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to US$2.50, the stock trades at a trailing P/E ratio of 15.3x. Average trailing P/E is 20x in the Gas Utilities industry in Argentina. Valuation Update With 7 Day Price Move • Nov 22
Investor sentiment improves as stock rises 26% After last week's 26% share price gain to US$2.13, the stock trades at a trailing P/E ratio of 13.1x. Average trailing P/E is 18x in the Gas Utilities industry in Argentina. Board Change • Nov 21
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Director Valeria Soifer was the last director to join the board, commencing their role in 2024. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 10
Third quarter 2024 earnings released: EPS: AR$77.56 (vs AR$50.84 in 3Q 2023) Third quarter 2024 results: EPS: AR$77.56 (up from AR$50.84 in 3Q 2023). Revenue: AR$324.1b (up 153% from 3Q 2023). Net income: AR$44.1b (up 53% from 3Q 2023). Profit margin: 14% (down from 23% in 3Q 2023). The decrease in margin was driven by higher expenses. Valuation Update With 7 Day Price Move • Nov 04
Investor sentiment improves as stock rises 26% After last week's 26% share price gain to US$1.39, the stock trades at a trailing P/E ratio of 29.2x. Average trailing P/E is 28x in the Gas Utilities industry in Argentina. Valuation Update With 7 Day Price Move • Oct 15
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to US$1.10, the stock trades at a trailing P/E ratio of 22.5x. Average trailing P/E is 24x in the Gas Utilities industry in Argentina.