Central Puerto S.A 6-K, filed Aug 20, 2021

About this 6-K

Central Puerto S.A. (CEPU)

6-K 2021-08-20 For: 2021-06-30

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Added on April 11, 2026

Central Puerto S.A.

Date: August 20, 2021

/s/ OSVALDO POLLICE

Osvaldo Pollice

Attorney-in-Fact

Central Puerto S.A filed this 6-K on August 20, 2021.

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Class of shares	Subscribed, paid-in, issued and registered

1,514,022,256 common, outstanding book-entry shares, with face value of 1 each and entitled to one vote per share.	1,514,022,256

		6 months		3 months
		Unaudited		Unaudited
	Notes	01-01-2021 to 06-30-2021	01-01-2020 to 06-30-2020	04-01-2021 to 06-30-2021	04-01-2020 to 06-30-2020
		ARS 000	ARS 000	ARS 000	ARS 000

Revenues	4	23,531,528	23,459,552	12,254,422	10,789,505
Cost of sales	Exhibit F	(12,481,169)	(10,321,846)	(6,721,916)	(5,069,649)
Gross income		11,050,359	13,137,706	5,532,506	5,719,856

Administrative and selling expenses	Exhibit H	(1,631,336)	(1,824,063)	(750,617)	(832,795)
Other operating income	5.1	6,027,294	10,672,860	2,041,219	5,605,048
Other operating expenses	5.2	(571,665)	(524,972)	(565,040)	(263,903)
Impairment of property, plant and equipment and intangible assets		(3,898,450)	(1,880,099)	(3,898,450)	(654,366)
Operating income		10,976,202	19,581,432	2,359,618	9,573,840

Loss on net monetary position		227,360	728,811	26,689	232,308
Finance income	5.3	310,625	2,300,913	(157,408)	2,083,176
Finance expenses	5.4	(10,653,205)	(14,261,631)	(2,873,377)	(7,547,180)
Share of the profit of associates		(699,370)	(48,032)	(402,964)	(133,716)
Income (loss) before income tax		161,612	8,301,493	(1,047,442)	4,208,428

Income tax for the period	6	(3,865,079)	(3,499,489)	(3,365,876)	(919,938)
Net (loss) income for the period		(3,703,467)	4,802,004	(4,413,318)	3,288,490
Total comprehensive (loss) income for the period		(3,703,467)	4,802,004	(4,413,318)	3,288,490

Attributable to:
– Equity holders of the parent		(3,734,920)	4,772,223	(4,438,155)	3,296,111
– Non-controlling interests		31,453	29,781	24,837	(7,621)
		(3,703,467)	4,802,004	(4,413,318)	3,288,490

Basic and diluted earnings per share (ARS)		(2.48)	3.17	(2.95)	2.19

		06-30-2021	12-31-2020
	Notes	Unaudited	Audited
		ARS 000	ARS 000
Assets
Non-current assets
Property, plant and equipment	Exhibit A	$96,480,904	$99,240,225
Intangible assets	Exhibit B	6,274,346	8,452,000
Investment in associates		5,030,003	5,845,134
Trade and other receivables	7.1	31,009,895	36,845,428
Other non-financial assets	8.1	337,588	606,715
Inventories		529,114	824,786
Deferred tax asset	6	969,480	123,294
		140,631,330	151,937,582
Current assets
Inventories		436,546	1,007,891
Other non-financial assets	8.1	1,605,900	1,128,372
Trade and other receivables	7.1	25,129,437	23,479,630
Other financial assets	7.4	11,039,887	17,641,047
Cash and cash equivalents		290,002	349,276
		38,501,772	43,606,216
Property, plant and equipment available for sale	11.1	2,956,967	2,956,967
Total assets		182,090,069	198,500,765

Equity and liabilities
Equity
Capital stock		1,514,022	1,514,022
Adjustment to capital stock		32,491,347	32,491,347
Legal reserve		5,241,866	4,810,003
Voluntary reserve		68,962,421	60,757,028
Other equity accounts		(2,464,063)	(2,464,063)
Retained earnings		(3,728,022)	8,644,154
Equity attributable to holders of the parent		102,017,571	105,752,491
Non-controlling interests		94,471	160,814
Total equity		102,112,042	105,913,305

Non-current liabilities
Other non-financial liabilities	8.2	5,517,976	6,584,920
Other loans and borrowings	7.3	36,262,123	38,656,132
Compensation and employee benefits liabilities	8.3	409,425	394,285
Provisions		45,403	56,901
Deferred income tax liabilities	6	13,866,756	11,279,067
		56,101,683	56,971,305
Current liabilities
Trade and other payables	7.2	3,710,902	3,190,127
Other non-financial liabilities	8.2	2,969,515	2,821,299
Other loans and borrowings	7.3	15,462,229	25,220,852
Compensation and employee benefits liabilities	8.3	976,162	1,276,954
Income tax payable		729,413	3,063,241
Provisions	Exhibit E	28,123	43,682
		23,876,344	35,616,155
Total liabilities		79,978,027	92,587,460
Total equity and liabilities		182,090,069	198,500,765

	Attributable to holders of the parent
	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, 2021	1,514,022	32,491,347	4,810,003	60,757,028	(2,464,063)	8,644,154	105,752,491	160,814	105,913,305

Net (loss) income for the period	-	-	-	-	-	(3,734,920)	(3,734,920)	31,453	(3,703,467)
Total comprehensive (loss) income for the period	-	-	-	-	-	(3,734,920)	(3,734,920)	31,453	(3,703,467)

Increase in legal reserve	-	-	431,863	-	-	(431,863)	-	-	-
Increase in voluntary reserve	-	-	-	8,205,393	-	(8,205,393)	-	-	-
Dividends in cash distributed by a subsidiary (2)	-	-	-	-	-	-	-	(97,796)	(97,796)
As of June 30, 2021	1,514,022	32,491,347	5,241,866	68,962,421	(2,464,063)	(3,728,022)	102,017,571	94,471	102,112,042

Item
1.		English translation of the consolidated financial statements for the six-month period ended on June 30, 2021, together with the independent auditor’s report of Central Puerto S.A. dated August 11, 2021, submitted to the Argentine securities regulator (the Comisión Nacional de Valores, or the CNV) on August 11, 2021

	06-30-2021	06-30-2020
	Unauited
	ARS 000	ARS 000
Operating activities
Income for the period before income tax	161,612	8,301,493

Adjustments to reconcile income for the period before income tax to net cash flows:
Depreciation of property, plant and equipment	3,033,902	2,207,981
Amortization of intangible assets	1,383,999	1,462,564
Impairment of property, plant and equipment and intangible assets	3,898,450	1,880,099
Discount of accounts receivables and payables, net	(127,343)	58,607
Interest earned from customers	(1,588,618)	(2,178,221)
Trade and tax interests lost	516,056	443,502
Finance income	(310,625)	(2,300,913)
Finance expenses	10,653,205	14,261,631
Share of the profit of associates	699,370	48,032
Share-based payments	-	2,097
Movements in provisions and long-term employee benefit plan expense	111,186	85,090
Foreign exchange difference for trade receivables	(4,283,539)	(8,486,294)
Loss on net monetary position	(6,977,265)	(6,651,696)

Working capital adjustments:
Decrease in trade and other receivables	6,426,430	12,787,910
(Decrease) Increase in other non-financial assets and inventories	(161,629)	304,995
Decrease in trade and other payables, other non-financial liabilities and liabilities from employee benefits	(4,281,866)	(8,485,977)
	9,153,325	13,740,900
Trade and tax interests paid	(516,056)	-
Interest received from customers	1,579,694	1,926,227
Income tax paid	(3,643,364)	(3,342,452)
Net cash flows provided by operating activities	6,573,599	12,324,675

Investing activities
Purchase of property, plant and equipment	(2,286,870)	(8,906,099)
Dividends received	115,635	176,686
Sale of available-for-sale financial assets, net	1,581,752	3,450,226
Net cash flows used in investing activities	(589,483)	(5,279,187)

Financing activities
Bank and investment accounts overdrafts obtained (paid), net	1,028,471	(3,005,289)
Long-term loans paid	(4,654,940)	(1,079,366)
Interest and other financial costs paid	(2,280,296)	(2,163,917)
Dividends paid	(97,796)	(78,938)
Net cash flows used in financing activities	(6,004,561)	(6,327,510)

(Decrease) Increase in cash and cash equivalents	(20,445)	717,978
Exchange difference and other financial results	46,687	158,722
Monetary results effect on cash and cash equivalents	(85,516)	(222,772)
Cash and cash equivalents as of January 1	349,276	2,548,798
Cash and cash equivalents as of June 30	290,002	3,202,726

2021	Electric Power Generation from conventional sources	Electric Power Generation from renewable sources	Natural Gas Transport and Distribution (1) (2)	Others (1)	Adjustments and Eliminations	Total
	ARS 000	ARS 000	ARS 000	ARS 000	ARS 000	ARS 000

Revenues	18,212,445	4,721,168	12,164,103	969,996	(12,536,184)	23,531,528
Cost of sales	(10,680,168)	(1,385,800)	(10,138,071)	(927,560)	10,650,430	(12,481,169)
Administrative and selling expenses	(1,412,718)	(218,618)	(2,574,691)	-	2,574,691	(1,631,336)
Other operating income	5,786,875	227,917	447,839	12,502	(447,839)	6,027,294
Other operating expenses	(557,330)	(14,335)	(128,542)	-	128,542	(571,665)
Impairment of property, plant and equipment and intangible assets	(3,898,450)	-	-	-	-	(3,898,450)
Operating income	7,450,654	3,330,332	(229,362)	54,938	369,640	10,976,202

Other (expenses) income	(12,614,553)	(1,258,534)	(2,375,943)	(78,991)	1,648,352	(14,679,669)

Net (loss) income for the segment	(5,163,899)	2,071,798	(2,605,305)	(24,053)	2,017,992	(3,703,467)
Share in the net (loss) income for the segment	(5,163,899)	2,071,798	(626,030)	14,664	-	(3,703,467)

2020	Electric Power Generation from conventional sources	Electric Power Generation from renewable sources	Natural Gas Transport and Distribution (1) (2)	Others (1)	Adjustments and Eliminations	Total
	ARS 000	ARS 000	ARS 000	ARS 000	ARS 000	ARS 000

Revenues	18,686,634	4,080,054	9,102,850	929,718	(9,339,704)	23,459,552
Cost of sales	(8,836,528)	(1,023,451)	(7,813,937)	(714,060)	8,066,130	(10,321,846)
Administrative and selling expenses	(1,577,801)	(246,262)	(1,786,888)	-	1,786,888	(1,824,063)
Other operating income	10,456,625	207,255	232,795	8,980	(232,795)	10,672,860
Other operating expenses	(419,143)	(105,060)	(129,717)	(769)	129,717	(524,972)
Impairment of property, plant and equipment	(1,880,099)	-	-	-	-	(1,880,099)
Operating income	16,429,688	2,912,536	(394,897)	223,869	410,236	19,581,432

Other (expenses) income	(10,669,578)	(3,969,007)	(182,247)	(4,869)	46,273	(14,779,428)

Net income (loss) for the segment	5,760,110	(1,056,471)	(577,144)	219,000	456,509	4,802,004
Share in the net income (loss) for the segment	5,760,110	(1,056,471)	(51,278)	149,643	-	4,802,004

	Consolidated statement of financial position		Consolidated statement of income and comprehensive income
	06-30-2021	12-31-2020	06-30-2021	12-31-2020
	ARS 000	ARS 000	ARS 000	ARS 000

Trade receivables	3,214	4,059	(845)	428
Other financial assets	(1,077)	(490)	(587)	357,626
Employee benefit liability	190,981	137,863	53,118	(18,805)
Provisions and others	(417,333)	(367,230)	(50,103)	(371,826)
Investments in associates	(1,638,476)	(1,355,342)	(283,134)	7,545
Property, plant and equipment - Material & spare parts - Intangible assets	(7,647,281)	(6,744,945)	(902,336)	357,057
Deferred tax income	(3,772,823)	(3,300,955)	(471,868)	8,564
Tax loss carry-forward	2,439,248	3,010,126	(570,878)	67,531
Tax inflation adjustment - Asset	188,645	234,309	(45,664)	(396,875)
Tax inflation adjustment - Liability	(2,242,374)	(2,773,168)	530,794	(386,592)
Deferred income tax expense			(1,741,503)	(375,347)
Deferred income tax liabilities, net	(12,897,276)	(11,155,773)

			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

06-30-21	56,150,860	50,504,577	5,632,847	-	1,143	682	11,611
12-31-20	60,342,437	56,538,605	3,770,025	2,936	15,857	34	14,980

06-30-2021	Measurement date	Fair value measurement using:
		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	06.30.2021	1,109,278	1,109,278	-	-
Public debt securities	06.30.2021	9,930,609	9,930,609	-	-
Total financial assets measured at fair value		11,039,887	11,039,887	-	-

Liabilities measured at fair value

Derivative financial liabilities not designated as hedging instruments
Interest rate swap	06.30.2021	698,084	-	698,084	-
Stock options	06.30.2021	123,634	123,634	-	-
Total financial liabilities measured at fair value		821,718	123,634	698,084	-

		Income	Expenses	Receivables	Payables
		ARS 000	ARS 000	ARS 000	ARS 000

Associates:

Termoeléctrica José de San Martín S.A.	06-30-2021	263	-	51	-
	06-30-2020	380	-	77	-
	12-31-2020	708	-	60	-

Distribuidora de Gas Cuyana S.A.	06-30-2021	-	141,061	-	51,346
	06-30-2020	-	247,178	-	31,910
	12-31-2020	-	464,862	-	34,663

Energía Sudamericana S.A.	06-30-2021	-	-	-	548
	06-30-2020	-	-	-	823
	12-31-2020	-	-	-	687

Related companies:

RMPE Asociados S.A.	06-30-2021	118	386,349	-	138,602
	06-30-2020	171	423,639	-	-
	12-31-2020	318	682,282	-	-

Coyserv S.A.	06-30-2021	-	-	-	-
	06-30-2020	-	3,708	-	-
	12-31-2020	-	3,708	-	-
Total	06-30-2021	381	527,410	51	190,496
	06-30-2020	551	674,525	77	32,733
	12-31-2020	1,026	1,150,852	60	35,350

	06-30-2021
	Cost
	At the beginning	Additions	Transfers	Disposals	At the end
	ARS 000	ARS 000	ARS 000	ARS 000	ARS 000

Lands and buildings	12,291,620	7,517	141	-	12,299,278
Electric power facilities	87,636,492	-	1,301,766	(203,676)	88,734,582
Wind turbines	29,075,908	-	9,297	-	29,085,205
Gas turbines	3,199,513	1,202	-	-	3,200,715
Construction in progress	25,948,402	3,376,517	(1,317,401)	-	28,007,518
Other	4,992,835	42,230	6,197	(96,007)	4,945,255
Total 06-30-2021	163,144,770	3,427,466	-	(299,683)	166,272,553

	06-30-2021					12-31-2020
	Depreciation and impairment
	At the beginning	Charges	Disposals and impairment	At the end	Net book value	Net book value
	ARS 000	ARS 000	ARS 000	ARS 000	ARS 000	ARS 000

Lands and buildings	1,782,610	200,022	-	1,982,632	10,316,646	10,509,010
Electric power facilities	48,764,821	2,093,100	(155,586)	50,702,335	38,032,247	38,871,671
Wind turbines	1,901,843	731,509	-	2,633,352	26,451,853	27,174,065
Gas turbines	-	-	-	-	3,200,715	3,199,513
Impairment of gas turbines (1)	1,864,569	-	-	1,864,569	(1,864,569)	(1,864,569)
Impairment of electric power facilities, lands and buildings, construction in progress and others (1)	5,852,202	(119,031)	3,104,795	8,837,966	(8,837,966)	(5,852,202)
Construction in progress	-	-	-	-	28,007,518	25,948,402
Other	3,738,500	128,302	(96,007)	3,770,795	1,174,460	1,254,335
Total 06-30-2021	63,904,545	3,033,902	2,853,202	69,791,649	96,480,904
						99,240,225

	6 months		3 months
	01-01-2021 to 06-30-2021	01-01-2020 to 06-30-2020	04-01-2021 to 06-30-2021	04-01-2020 to 06-30-2020
	ARS 000	ARS 000	ARS 000	ARS 000

Revenues from Resolution 1, Resolution 19, SGE Resolution 70/2018 and amendments	10,838,969	11,172,651	6,216,780	4,460,442
Sales under contracts	11,411,355	11,022,521	5,370,636	5,660,634
Steam sales	683,289	571,516	371,264	285,799
Resale of gas transport and distribution capacity	148,455	214,519	63,405	118,087
Revenues from CVO thermal plant management	449,460	478,345	232,337	264,543
	23,531,528	23,459,552	12,254,422	10,789,505

	06-30-2021				12-31-2020
Account	Currency and amount (in thousands)		Effective exchange rate (1)	Book value	Currency and amount (in thousands)		Book value
				ARS 000			ARS 000

NON-CURRENT ASSETS

Trade and other receivables	USD	319,810	95.73 (2)	30,615,427	USD	404,860	36,617,334
				30,615,427			36,617,334

CURRENT ASSETS

Cash and cash equivalents	USD	2,743	95.52	262,012	USD	29,834	317,313
	EUR	2	113.10	226	EUR	1	258
Other financial assets	USD	68,562	95.52	6,549,041	USD	97,220	3,438,152
	EUR	-	113.10	-	EUR	2,211	285,609
Trade and other receivables	USD	68,825	95.73 (2)	6,588,581	USD	79,002	7,069,438
	USD	31,095	95.52	2,970,196	USD	8,837	1,716,287
				16,370,056			12,827,057
				46,985,483			49,444,391


NON-CURRENT LIABILITIES

Other loans and borrowings	USD	409,645	95.72	39,211,219	USD	532,441	39,720,413
				39,211,219			39,720,413

CURRENT LIABILITIES

Other loans and borrowings	USD	138,807	95.72	13,286,606	USD	110,804	22,739,172
Trade and other payables	USD	16,543	95.72	1,583,496	USD	22,537	2,023,997
	EUR	185	113.57	21,011	EUR	291	15,699
				14,891,113			24,778,868
				54,102,332			64,499,281

	6 months
	01-01-2021 to 06-30-2021			01-01-2020 to 06-30-2020
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	1,847,758	637,110	2,484,868	1,864,313	636,163	2,500,476
Other long-term employee benefits	97,453	20,432	117,885	72,544	12,764	85,308
Depreciation of property, plant and equipment	3,033,902	-	3,033,902	2,191,099	16,882	2,207,981
Amortization of intangible assets	1,383,999	-	1,383,999	1,461,517	1,047	1,462,564
Purchase of energy and power	83,519	-	83,519	105,410	-	105,410
Fees and compensation for services	605,414	560,032	1,165,446	690,249	514,850	1,205,099
Maintenance expenses	1,803,059	39,848	1,842,907	987,195	133,665	1,120,860
Consumption of materials and spare parts	421,832	-	421,832	300,649	-	300,649
Insurance	548,201	11,955	560,156	464,758	15,307	480,065
Levies and royalties	183,193	-	183,193	279,246	-	279,246
Taxes and assessments	35,999	135,060	171,059	30,108	204,155	234,263
Tax on bank account transactions	3,761	179,436	183,197	4,213	260,914	265,127
Others	4,446	47,463	51,909	11,353	28,316	39,669
Total	10,052,536	1,631,336	11,683,872	8,462,654	1,824,063	10,286,717

	3 months
	04-01-2021 to 06-30-2021			04-01-2020 to 06-30-2020
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	944,414	313,089	1,257,503	883,080	315,848	1,198,928
Other long-term employee benefits	37,264	18,742	56,006	35,280	6,334	41,614
Depreciation of property, plant and equipment	1,544,544	-	1,544,544	1,088,449	12,512	1,100,961
Amortization of intangible assets	750,571	-	750,571	730,841	786	731,627
Purchase of energy and power	50,787	-	50,787	69,266	-	69,266
Fees and compensation for services	346,212	250,305	596,517	334,314	216,778	551,092
Maintenance expenses	1,167,999	4,605	1,172,604	543,865	44,751	588,616
Consumption of materials and spare parts	320,199	-	320,199	193,423	-	193,423
Insurance	271,191	4,838	276,029	225,476	7,268	232,744
Levies and royalties	101,939	-	101,939	110,567	-	110,567
Taxes and assessments	17,692	30,675	48,367	17,863	102,094	119,957
Tax on bank account transactions	1,634	98,061	99,695	2,571	110,097	112,668
Others	2,611	30,302	32,913	4,491	16,327	20,818
Total	5,557,057	750,617	6,307,674	4,239,486	832,795	5,072,281

	06-30-2021								12-31-2020
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	121,169	40,340	121,169	206,261
CP Renovables S.A.	1 vote	1	6,973,083,473	6,413,574	Unlisted	8,579,954	900,970	8,579,954	7,678,984
Proener S.A.U.	1 vote	1	6,301,241,595	1	Unlisted	5,339,418	(1,860,126)	5,339,418	24,965
Vientos La Genoveva S.A.U.	1 vote	1	1,615,451,861	1,615,452	Unlisted	3,269,382	827,506	3,269,382	2,441,876
Vientos La Genoveva II S.A.U.	1 vote	1	498,293,542	498,294	Unlisted	2,109,879	323,062	2,109,879	1,786,817
							231,752	19,419,802	12,138,903

	Latest available financial information
Name and characteristics of securities and issuers	Date	Capital stock	(Loss) Income	Equity	Direct and indirect equity interest %

INVESTMENT IN SUBSIDIARIES

Central Vuelta de Obligado S.A.	06/30/2021	500	70,940	215,641	56.19%
CP Renovables S.A.	06/30/2021	6,973,083	955,016	9,272,707	100.00%
Proener S.A.U.	06/30/2021	6,301,242	(1,860,126)	5,348,717	100.00%
Vientos La Genoveva S.A.U.	06/30/2021	1,615,452	839,185	2,827,082	100.00%
Vientos La Genoveva II S.A.U.	06/30/2021	498,294	237,617	1,718,024	100.00%