Mensajepor Million70 » Mar Mar 13, 2018 10:20 am
Pampa Energía S.A. announces results for fiscal year and quarter ended on December 31, 2017
Mon March 12, 2018 11:24 PM|PR Newswire
BUENOS AIRES, Argentina, March 12, 2018 /PRNewswire/ -- Pampa Energía S.A. (NYSE: PAM; Buenos Aires Stock Exchange: PAMP), the largest independent energy integrated company in Argentina, with participation in the electricity and oil and gas value chain, announces the results for the fiscal year and quarter ended on December 31, 2017. All figures are stated in Argentine Pesos and have been prepared in accordance with International Financial Reporting Standards.
Main Results for the Fiscal Year 2017 ('FY 2017')1
Consolidated net revenues of AR$50,347 million2, 100.5% higher than the AR$25,110 million for the same period of 2016 ('FY 2016'), explained by increases of AR$4,973 million in power generation, AR$11,260 million in electricity distribution, AR$5,062 million in oil and gas, AR$4,722 million in petrochemicals and AR$344 million in holding and others segment, partially offset by higher eliminations as a result of intersegment sales for AR$1,124 million.
Power Generation of 14,186 GWh from 11 power plants
Electricity sales of 21,503 GWh to 3 million end-users
Production of 69.7 thousand barrels per day of hydrocarbons: 284 million cf/d of gas and 22.2 kboe/d of oil and LPG
Sales of 1.8 million m3 of refined products and 458 thousand tons of petrochemical products
Adjusted consolidated EBITDA3 of AR$17,953 million, compared to AR$7,372 million for FY 2016, mainly due to increases of AR$2,990 million in power generation, AR$1,923 million in electricity distribution, AR$3,755 million in oil and gas, AR$1,036 million in refining and distribution, AR$90 million in petrochemicals and AR$795 million in holding and others segment, partially offset by lower intersegment eliminations for AR$8 million.
Consolidated gain of AR$5,670 million, of which AR$4,606 million is attributable to the owners of the Company, higher than the AR$11 million of loss attributable to the owners in FY 2016, explained by higher reported gains in power generation (AR$2,845 million), electricity distribution (AR$2,098 million) and oil and gas (AR$2,614 million), partially offset by losses in refining and distribution (AR$117 million), petrochemicals (AR$187 million), holding and others (AR$2,574 million) and intersegment eliminations (AR$62 million).
Main Results for the Fourth Quarter of 2017 ('Q4 17')4
Consolidated net revenues of AR$13,977 million, compared to AR$9,380 million recorded in the fourth quarter 2016 ('Q4 16'), mainly explained by increases of AR$1,160 million in power generation, AR$2,801 million in electricity distribution, AR$299 million in oil and gas, AR$263 million in petrochemicals and AR$90 million in holding and others, partially offset by higher eliminations from intersegment sales for AR$16 million.
Power generation of 2,693 GWh from 11 power plants
Electricity sales of 5,064 GWh to 3 million of end-users
Production of 67.4 kboe/d of hydrocarbons: 284 million cf/d of gas and 20 kboe/d of oil and LPG
Sales of 443 thousand m3 of refined products and 104 thousand tons of petrochemical products
Consolidated adjusted EBITDA of AR$5,180 million, compared to AR$4,101 million in Q4 16, due to increases of AR$845 million in power generation, AR$51 million in oil and gas, AR$484 million in refining and distribution, AR$469 million in holding and others and AR$9 million in intersegment eliminations, partially offset by decreases of AR$671 million in electricity distribution and AR$108 million in petrochemicals.
Consolidated gain of AR$1,700 million, of which AR$1,512 million is attributable to the owners of the Company, higher than the gain of AR$982 million attributable to the owners of the Company in the Q4 16, explained by reported higher earnings in our segments of power generation (AR$646 million), electricity distribution (AR$365 million) and oil and gas (AR$985 million), partially offset by losses in refining and distribution (AR$388 million), petrochemicals (AR$41 million), holding and others (AR$959 million) and intersegment eliminations (AR$78 million).