Pampa Energia Announces First Quarter 2024 Results - Seite 2

Petrochemicals

Volume sold (k ton)

110 103 +7 %

Average price (US$/ton)

1,098 1,219 -10 %

Adjusted EBITDA³ reached US$189 million in Q1 24, an 8% decrease compared to Q1 23, mainly explained by a 22% reduction in power generation due to credit impairment on the January invoice to CAMMESA and a 22% reduction in holding and others, offset by improvements of 14% in oil and gas and 58% in petrochemicals.

Net profit attributable to the Company's shareholders of US$267 million, 89% higher than in Q1 23, mainly explained by higher non-cash credit on deferred income tax due to higher inflation than AR$ devaluation, also positively impacted our affiliates' equity income. These effects were offset by the impairment of CAMMESA receivables and lower sales and devaluation profit from AR$ debt.

Net debt increased to US$718 million, resulting in a net leverage ratio of 1.1x, mainly due to the substantial delays in the payment collections from CAMMESA.

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¹ The information is based on financial statements ('FS') prepared according to International Financial Reporting Standards ('IFRS') in force in Argentina.
² It does not include sales from the affiliates CTBSA, Transener and TGS, shown as 'Results for participation in joint businesses and associates'.
³ Consolidated adjusted EBITDA represents the flows before financial items, income tax, depreciations and amortizations, extraordinary and non-cash income and expense, equity income, and includes affiliates' EBITDA at our ownership. Further information on section 3.1.

Consolidated balance sheet
(As of March 31, 2024 and December 2023, in millions)

Foto: Accesswire

Consolidated income statement
(For the quarters ended on March 31, 2024 and 2023, in millions)

Foto: Accesswire

Note: 1 It considers the Employee stock-based compensation plan shares, which amounted to 3.9 million common shares as of March 31, 2023 and 2024.