Pampa Energia Sa · BCBA:PAMP

Pampa Energia Sa — Q2 2018 Earnings Presentation

17 slides from Pampa Energia Sa's earnings presentation, Aug 14, 2018

  1. Slide 1: Q2 2018 Results Call

    Q2 2018 Results Call August 14, 2018 10 AM EST / 11 AM ART

  2. Slide 2: Disclaimer

    Disclaimer The material that follows is a presentation of general background information about Pampa Energía SA as of the date of the presentation. It is information in summary form and does not purport to be complete. It is not intended to be relied upon as advice to potential investors. This prese

  3. Slide 3: Today’s Agenda

    Today’s Agenda • Presented by Lida Wang, IRO  Q2 2018 consolidated EBITDA  Q2 2018 consolidated net income  Results & news by business segment  Cash and debt • Power generation  Q&A session • Electricity distribution • Oil & gas upstream • Refining & marketing • Petrochemicals • Holding – TGS –

  4. Slide 4: Q2 2018 Consolidated Results

    Q2 2018 Consolidated Results Adjusted EBITDA from Continuing Businesses1 In million AR$ 7,505 Segment Q2 17 Q2 18 ∆$ ∆% Power Generation 848 2,491 1,643 +194% 2,491 Electricity Distribution 338 1,585 1,247 NA Oil & Gas* 1,583 2,069 486 +31% 1,585 Refining & Marketing* 20 (29) (49) NA 3,208 Petrochem

  5. Slide 5: Q2 2018 Consolidated Results: Adjusted EBITDA

    Q2 2018 Consolidated Results Adjusted EBITDA from Continuing Businesses In million AR$ Adj. EBITDA Q2 18 2,491 1,585 2,069 (29) 45 1,344 7,505 +134% +926 yoy +486 -49 +44 +1,247 +1,643 3,208 Total Q2 17 Power Power Generation Electricity Electricity Distribution Oil & Gas Refining Refining & Petro-

  6. Slide 6: Power Generation

    Power Generation Adjusted EBITDA Generation Performance In million AR$ In GWh  Lower dispatch requested at CPB 2,491 AR$ devaluation 3,794 3,659 & CTGEBA TG #3 +194% Full fare for  Lower water at legacy capacity HIDISA New PPAs in Commissioning of force Thermal CTPP, CTLL’s 89% 848  Higher co

  7. Slide 7: Power Generation: Genelba Expansion

    Power Generation Genelba Expansion Pampa Energía ● Q2 2018 Earnings Call 7

  8. Slide 8: Power Generation: PEPE II Wind Farm Expansion

    Power Generation PEPE II Wind Farm Expansion Pampa Energía ● Q2 2018 Earnings Call 8

  9. Slide 9: Electricity Distribution

    Electricity Distribution Adjusted EBITDA Sales Performance  Lower demand In million AR$ RTI’s full fare In GWh from SMEs 1,585 implementation + costs update 5,359 5,344 Stable demand in Aug ‘17 and from residential 6% 6% and large users, Def. income 395 Feb ‘18 35% 35% peaked in June Income from

  10. Slide 10: Oil & Gas

    Oil & Gas Adjusted EBITDA from Continuing Businesses Total Production Performance (Argentina + Abroad) In million AR$ In kboe per day +31% 2,069 FX impact Better oil sale 50.7  End of service at Medanito La price in US$ Abroad 46.2 Pampa in Oct-17 1,583 Incl. OldelVal’s 1.6 0.3  Lower productio

  11. Slide 11: Oil & Gas: News Update

    Oil & Gas News Update • 35-year period unconventional exploitation concession at El Mangrullo and Sierra Chata blocks • Cammesa’s new reference price of gas for power generation • Program for the financing of gas winter consumptions to distribution companies Pampa Energía ● Q2 2018 Earnings Call 11

  12. Slide 12: Downstream: Refining & Marketing

    Downstream: Refining & Marketing Adjusted EBITDA Sales Performance In million AR$ In thousand m3 Higher sale prices 427 in AR$ US$550/m3 US$538/m3 Excludes gain from assets’ sale 480 1% Crude Oil  Higher costs of 14% 377 456 16% 6% Other distillates imported diesel & 17% Fuel Oil, IFOs & crude oi

  13. Slide 13: Downstream: Petrochemicals

    Downstream: Petrochemicals Adjusted EBITDA Sales Performance In million AR$ In thousand ton US$984/ton US$1,161/ton 45 Better int’l sale prices in US$ 107 Excludes ex PZE’s 95 contingencies  Lower output 64% 56% Other  Higher operating SBR & raw material’s 7% 8% Styrene & 1 cost 29% 35% Polystyr

  14. Slide 14: Holding & Others

    Holding & Others Adjusted EBITDA Affiliates’ EBITDA Performance @ 100% Ownership In million AR$ In million AR$ Transener TGS 1,364 RTI 3,789 FX +225% RTI impact 1,189 Better 420 966 TGS 847 liquids 1,281 margin 327 Higher Transener 313 liquids 223 85 Holding volume (130) sold Q2 17 Q2 18 Q2 17

  15. Slide 15: Q2 2018 Consolidated Results: Net Income to Shareholders

    Q2 2018 Consolidated Results Net Income to Shareholders In million AR$ Reported Q2 18 NI to (1,748) (91) (2,908) 633 (616) 2,069 (2,661) Shareholders (91) -1,800 -71 +1,582 +753 -517 -2,517 Power Electricity Refining & Petro- Holding, Q2 17 Generation Distribution Oil & Gas Marketing chemicals Other

  16. Slide 16: Strong Cash & Debt Position

    Strong Cash & Debt Position Principal Debt Profile as of June 30, 20181 + Share Repurchases After Q2 18 In US$ million Consolidated debt from FS US$2,087 million US$ US$ Link AR$ 750 + Affiliates' debt @ O/S US$225 million 2 Total gross debt US$2,312 million 513 Consolidated cash from FS US$930 mill

  17. Slide 17: Thank you! Any Questions?

    Thank you! Any Questions? For further information, contact: • Gustavo Mariani Vice President • Ricardo Torres Vice President • Mariano Batistella Planning, Strategy & Related Companies Executive Director • Lida Wang Investor Relations Officer The Pampa Energía Building, Maipú 1 (C1084ABA), Ciudad Au

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