Pampa Energía S.A.
Pampa Energía announces results for the fiscal year and quarter ended on December 31, 2016
Pampa Energía S.A. (NYSE: PAM; Buenos Aires Stock Exchange: PAMP), the largest independent energy integrated company in Argentina, that through its subsidiaries participates in the electricity and oil and gas value chain, announces the results for the fiscal year and quarter ended on December 31, 2016. All figures are stated in Argentine Pesos and have been prepared in accordance with International Financial Reporting Standards.
Main Results for the Fiscal Year 2016 ('FY 2016')
In the fiscal year 2016, Pampa's figures consolidate former Petrobras Argentina's results between August and including October, and shown merged as of November.
Consolidated sales revenues of AR$31,295 million for the fiscal year ended on December 31, 2016, higher than the AR$7,106 million for the same period of 2015, primarily explained by the addition as of August 2016 of Petrobras Argentina. The net sales increased AR$2,206 million in power generation, AR$9,277 million in electricity distribution, AR$7,091 million in oil and gas, AR$6,550 million in refining and distribution, AR$2,507 million in petrochemicals and AR$26 million in holding and others segment, partially offset by higher eliminations from intersegment sales for AR$3,468 million.
Consolidated adjusted EBITDA of AR$7,344 million for the fiscal year ended on December 31, 2016, compared to a AR$4,079 million for the same period of 2015, mainly due to increases of AR$734 million in power generation, AR$4,637 million in oil and gas, AR$113 million in petrochemicals and AR$122 million in intersegment eliminations, partially offset by decreases of AR$1,132 million in electricity distribution, AR$102 million in refining and distribution and AR$1,108 million in holding and others segment.
Consolidated Loss of AR$252 million during the fiscal year ended on December 31, 2016, of which AR$11 million is attributable to the owners of the Company, below the gain of AR$3,065 million attributable to the owners of the Company in the same period of 2015, mainly explained by reported losses in electricity distribution (AR$1,147 million), petrochemicals (AR$89 million) and holding and others (AR$674 million), partially offset by reported profits in power generation (AR$1,045 million), oil and gas (AR$627 million), refining and distribution (AR$106 million) and intersegment eliminations (AR$121 million).
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Pampa Energia S.A.