(Pampa Energía, 10.Mar.2022) — Pampa Energía S.A. (NYSE: PAM; Buenos Aires Stock Exchange: PAMP), an independent company with active participation in Argentina’s electricity and gas value chain, announces the results for the fiscal year and quarter ended on 31 December 2021.
Pampa’s financial information adopts US$ as functional currency, and it’s expressed in AR$ at the transactional nominal exchange rate (‘FX’). However, its affiliates Transener, TGS and Refinor report under local currency. Hence, their figures are adjusted by inflation as of 31 December 2021, except for previous periods already reported.
Main results from the quarter
— 42% year-on-year increase in sales, recording US$406mn in the fourth quarter 2021 (‘Q4 21’), explained by the rise in prices of gas, oil and petrochemical products, increased physical volume sold in all our businesses and higher legacy energy sales, offset by the Power Purchase Agreement (‘PPA’) maturity at Loma De La Lata Thermal Power Plant (‘CTLL’)’s steam turbine.
— 8% year-on-year increase in the adjusted EBITDA, recording US$199mn in Q4 21, explained by an increase of US$27mn in oil and gas, and US$5mn in holding and others, offset by decreases of US$16mn in power generation and US$1mn in petrochemicals.
— Pampa recorded a consolidated profit attributable to the company’s shareholders of US$39mn, vs. a net loss of US$463mn in the fourth quarter 2020 (‘Q4 20’), mainly due to the impairment of assets from discontinued operations in Q4 20, better operating margin in oil and gas, and to lower stock of debt, offset by losses from the holding of financial securities in Q4 21.
— Consolidated net debt decreased to US$866mn as of 31 December 2021, recording a continuous and significant reduction compared to the US$1,148mn recorded by the end of 2020.
____________________
