Transportadora de Gas del Sur S.A. (TGS) Income Statement
TGS 2025 at a glance
Fiscal year ended December 31, 2025 · Argentine pesosTGS revenue and net income
Where TGS's revenue goes
2025Each bar shows an amount and its share of revenue. TGS kept 24.7% of revenue as net income.
TGS profit margins
TGS growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +63.0% | +22.6% | +64.8% | +85.0% |
| Gross profit | +63.0% | +35.5% | +66.9% | +93.2% |
| Operating income | +53.7% | +34.3% | +70.0% | +104.0% |
| Net income | +32.5% | +30.8% | +119.3% | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
TGS income statement in Argentine pesos
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ARS 1.99T | ARS 1.22T | ARS 967.50B | ARS 1.08T | ARS 526.69B | ARS 163.31B | ARS 99.37B | ARS 33.66B | ARS 12.25B | ARS 7.40B |
| Cost of revenue | ARS 923.01B | ARS 566.64B | ARS 620.07B | ARS 651.29B | ARS 289.12B | ARS 81.05B | ARS 50.09B | ARS 16.19B | ARS 6.52B | ARS 4.44B |
| Gross profit | ARS 1.06T | ARS 653.12B | ARS 347.43B | ARS 427.73B | ARS 237.57B | ARS 82.26B | ARS 49.28B | ARS 17.47B | ARS 5.72B | ARS 2.97B |
| Research & development | — | — | — | — | — | — | ARS 0 | ARS 0 | ARS 0 | ARS 0 |
| Sales, general & admin | ARS 76.70B | ARS 46.60B | ARS 48.07B | ARS 37.77B | ARS 14.11B | ARS 4.33B | ARS 8.16B | ARS 2.73B | ARS 902.9M | ARS 668.9M |
| Total operating expenses | ARS 203.92B | ARS 92.82B | ARS 93.87B | ARS 72.06B | ARS 30.82B | ARS 21.57B | ARS 8.68B | ARS 3.08B | ARS 1.05B | ARS 734.4M |
| Operating income | ARS 860.99B | ARS 560.30B | ARS 253.56B | ARS 355.67B | ARS 206.75B | ARS 60.69B | ARS 40.60B | ARS 14.26B | ARS 4.72B | ARS 2.23B |
| Interest income | ARS 32.70B | ARS 23.24B | ARS 3.35B | ARS 5.04B | ARS 10.02B | ARS 12.66B | ARS 9.20B | ARS 8.11B | ARS 804.8M | ARS 745.4M |
| Interest expense | ARS 103.29B | ARS 55.71B | ARS 53.63B | ARS 46.10B | ARS 27.10B | ARS 47.8M | ARS 375.5M | ARS 1.68B | ARS 467.7M | ARS 430.9M |
| Income before taxes | ARS 750.34B | ARS 582.10B | ARS 95.00B | ARS 334.85B | ARS 204.23B | ARS 22.61B | ARS 34.58B | ARS 11.43B | ARS 4.15B | ARS 1.42B |
| Income taxes | ARS 260.02B | ARS 211.94B | ARS 43.79B | ARS 115.70B | ARS 77.26B | ARS 12.95B | ARS 8.27B | ARS 13.2M | ARS 1.36B | ARS 489.3M |
| Net income | ARS 490.32B | ARS 370.16B | ARS 51.21B | ARS 219.16B | ARS 126.97B | ARS 9.66B | ARS 26.31B | ARS 11.42B | ARS 2.79B | ARS 930.7M |
| EBITDA | ARS 1.06T | ARS 643.37B | ARS 280.66B | ARS 513.69B | ARS 289.63B | ARS 50.60B | ARS 46.42B | ARS 18.94B | ARS 5.02B | ARS 2.55B |
| Gross margin | 53.6% | 53.5% | 35.9% | 39.6% | 45.1% | 50.4% | 49.6% | 51.9% | 46.7% | 40.1% |
| Operating margin | 43.3% | 45.9% | 26.2% | 33.0% | 39.3% | 37.2% | 40.9% | 42.4% | 38.5% | 30.2% |
| Net margin | 24.7% | 30.3% | 5.3% | 20.3% | 24.1% | 5.9% | 26.5% | 33.9% | 22.8% | 12.6% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ARS 562.77B | ARS 484.20B | ARS 567.12B | ARS 421.42B | ARS 343.01B | ARS 320.99B | ARS 413.75B | ARS 331.97B | ARS 363.42B | ARS 295.56B | ARS 220.41B | ARS 223.58B |
| Cost of revenue | ARS 279.29B | ARS 202.17B | ARS 259.44B | ARS 204.12B | ARS 164.63B | ARS 136.89B | ARS 186.96B | ARS 166.16B | ARS 156.83B | ARS 157.66B | ARS 142.05B | ARS 151.86B |
| Gross profit | ARS 283.48B | ARS 282.03B | ARS 307.69B | ARS 217.30B | ARS 178.39B | ARS 184.11B | ARS 226.79B | ARS 165.81B | ARS 206.60B | ARS 137.90B | ARS 78.35B | ARS 71.72B |
| Sales, general & admin | ARS 56.37B | ARS 41.84B | ARS 27.46B | ARS 41.50B | ARS 42.45B | ARS 12.07B | ARS 13.82B | ARS 14.37B | ARS 11.96B | ARS 14.65B | ARS 11.13B | ARS 9.52B |
| Total operating expenses | ARS 57.17B | ARS 32.69B | ARS 60.84B | ARS 45.27B | ARS 55.81B | ARS 43.02B | ARS 1.37B | ARS 27.35B | ARS 29.66B | ARS 36.09B | ARS 23.10B | ARS 18.34B |
| Operating income | ARS 226.31B | ARS 249.34B | ARS 246.84B | ARS 172.03B | ARS 122.57B | ARS 141.09B | ARS 225.42B | ARS 138.46B | ARS 176.94B | ARS 101.81B | ARS 55.25B | ARS 53.38B |
| Interest income | ARS 15.10B | ARS 10.57B | ARS 10.75B | ARS 6.27B | ARS 7.83B | ARS 6.59B | ARS 28.83B | ARS 20.95B | ARS 7.81B | ARS 16.83B | ARS 19.42B | ARS 1.02B |
| Interest expense | ARS 40.40B | ARS 34.53B | ARS 33.98B | ARS 20.28B | ARS 16.96B | ARS 14.67B | ARS 16.38B | ARS 17.75B | ARS 14.03B | ARS 13.57B | ARS 13.52B | ARS 5.05B |
| Income before taxes | ARS 209.21B | ARS 261.71B | ARS 234.31B | ARS 167.92B | ARS 63.42B | ARS 157.58B | ARS 232.62B | ARS 102.80B | ARS 194.68B | ARS 135.43B | −ARS 14.51B | ARS 37.73B |
| Income taxes | ARS 68.05B | ARS 101.73B | ARS 87.26B | ARS 55.86B | ARS 23.15B | ARS 50.23B | ARS 84.98B | ARS 34.00B | ARS 74.94B | ARS 48.21B | −ARS 7.38B | ARS 22.65B |
| Net income | ARS 141.16B | ARS 159.98B | ARS 147.04B | ARS 112.06B | ARS 40.28B | ARS 107.35B | ARS 147.64B | ARS 68.80B | ARS 119.74B | ARS 87.22B | −ARS 7.13B | ARS 15.08B |
| EBITDA | ARS 296.37B | ARS 353.39B | ARS 330.98B | ARS 240.32B | ARS 143.37B | ARS 225.62B | ARS 219.03B | ARS 164.06B | ARS 246.36B | ARS 232.26B | ARS 31.25B | ARS 86.81B |
| Gross margin | 50.4% | 58.2% | 54.3% | 51.6% | 52.0% | 57.4% | 54.8% | 49.9% | 56.8% | 46.7% | 35.6% | 32.1% |
| Operating margin | 40.2% | 51.5% | 43.5% | 40.8% | 35.7% | 44.0% | 54.5% | 41.7% | 48.7% | 34.4% | 25.1% | 23.9% |
| Net margin | 25.1% | 33.0% | 25.9% | 26.6% | 11.7% | 33.4% | 35.7% | 20.7% | 32.9% | 29.5% | −3.2% | 6.7% |
Quarterly columns are labeled by the month the quarter ended. Figures in Argentine pesos as reported in TGS's financial statements (latest annual report filed April 22, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
TGS financial results
In fiscal year 2025 (ended December 31, 2025), Transportadora de Gas del Sur reported revenue of ARS 1.99 trillion, up 63.0% from the year before. It had net income of ARS 490.3 billion (up 32.5%), a net profit margin of 24.7%. Over five years revenue grew at an average rate of 64.8% a year. Figures are in Argentine pesos, the currency of its financial statements.
See the TGS stock overview for the latest quote and news, or the TGS chart for price history and technical indicators.
TGS income statement FAQ
What is Transportadora de Gas del Sur's annual revenue?
Transportadora de Gas del Sur reported total revenue of ARS 1.99 trillion for fiscal year 2025, which ended on December 31, 2025. That was up 63.0% from ARS 1.22 trillion the previous year.
Is Transportadora de Gas del Sur profitable?
Yes. Transportadora de Gas del Sur reported net income of ARS 490.3 billion in fiscal 2025, a net profit margin of 24.7%; its operating margin was 43.3%.
What is Transportadora de Gas del Sur's gross margin?
Transportadora de Gas del Sur's gross margin was 53.6% in fiscal 2025: for every $100 of revenue, Transportadora de Gas del Sur kept $54 after the direct cost of its products and services.
How fast is Transportadora de Gas del Sur growing?
Revenue grew 64.8% a year on average over the last five fiscal years, from ARS 163.3 billion to ARS 1.99 trillion.
When will Transportadora de Gas del Sur report its next earnings?
Transportadora de Gas del Sur is expected to report results for the quarter ending September 30, 2026 on November 2, 2026.
When does Transportadora de Gas del Sur's fiscal year end?
Transportadora de Gas del Sur's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on April 22, 2026.