Pampa Energia Sa · BCBA:PAMP

Pampa Energia Sa — Q1 2019 Earnings Presentation

17 slides from Pampa Energia Sa's earnings presentation, May 14, 2019

  1. Slide 1: Q1 2019 Results Call

    Q1 2019 Results Call May 14, 2019 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 • Reporting considerations to take into account • Q1 2019’s key takeaways • Results & news by business segment  Power generation  Electricity distribution  Oil & gas upstream  Petrochemicals  Holding and Others • Q1 2019 consolidated net income • Cash and debt • Q&A session Pampa

  4. Slide 4: Q1 2019's Key Takeaways: Adjusted EBITDA in constant currency

    Q1 2019’s Key Takeaways Results in constant currency (adjusted by inflation) Adjusted EBITDA from continuing businesses, in AR$ million Adj. EBITDA Q1 19 4,230 889 1,527 - (134) 1,526 8,037 Power Electricity Refining & Petro- Holding, Q1 18 Generation1 Distribution Oil & Gas2 Marketing chemicals Oth

  5. Slide 5: Q1 2019's Key Takeaways: Results in nominal currency, US$

    Q1 2019’s Key Takeaways Results in nominal currency, translated into US$1 Revenues2, US$ million Consolidated Adjusted EBITDA2, US$ million -25% yoy EBITDA margin 1,122 +4% qoq 390 -45% yoy 450 80%  AR$ +17% qoq 400 807 837 70% depreciation 350 over AR$- 60% 216 300 inflation 184  FX effect 50% re

  6. Slide 6: Power Generation

    Power Generation Results in nominal currency, translated into US$1 Adjusted EBITDA2, in US$ million Generation Performance, in GWh -1% yoy -9% yoy 105 +9% qoq  Net margin over 4,289 +18% qoq  Lower demand 104 fuel in CVP 3,913  Higher CVP from  Includes Mario 3,325 imported gas Cebreiro’s 50% 

  7. Slide 7: Power Generation: PEPE II Wind Farm

    Power Generation PEPE II Wind Farm: 53 MW to private large users, fully sold Pampa Energía ● Q1 2019 Earnings Call 7

  8. Slide 8: Power Generation: PEPE III Wind Farm

    Power Generation PEPE III Wind Farm: 53 MW to private large users, fully sold Pampa Energía ● Q1 2019 Earnings Call 8

  9. Slide 9: Power Generation: Genelba Expansion

    Power Generation Genelba Expansion: 383 MW, first milestone 200 MW open cycle to be ready next month Pampa Energía ● Q1 2019 Earnings Call 9

  10. Slide 10: Electricity Distribution

    Electricity Distribution Results in nominal currency, translated into US$1 Adjusted EBITDA, in US$ million Sales Performance , in GWh  Lower demand 5,550 -10% yoy 139 -82% yoy  10% lower 5% +8% qoq 4,652 5,018  Mild weather demand  Economic 6%  CPD lagging 6% recession 36% AR$ deval 36%  Price

  11. Slide 11: Oil & Gas

    Oil & Gas Results in nominal currency, translated into US$1 Adjusted EBITDA2, in US$ million Domestic Production Performance, in kboe/d -59% yoy +2% yoy 91 -23% qoq  Lower gas prices +10% qoq 46.8 in US$ 45.9 19 Plan Gas II from PEPASA  End of Plan Gas 2 42.5 reversed in  Lower trading Q2 18 49 s

  12. Slide 12: Oil & Gas: Gas Production and Prices

    Oil & Gas Weighted Average Gas Price for Pampa, Argentina Gas Production Performance, in mcf/d without Subsidy, in US$/MBTU +1% yoy Price in US$/MBTU 5.5 6.3/5.51 3.4 3.1 +12% qoq  End of Plan Gas 2 5.0 247 249  Excess of supply 5.0 4.8 4.8 4.7 222  CAMMESA & 4.7 2017 industries 4.5 4.8  Slightl

  13. Slide 13: Petrochemicals

    Petrochemicals Results in nominal currency, translated into US$1 Adjusted EBITDA, in US$ million Sales Performance, in thousand ton  Lower local and -110% yoy -5% yoy int’l demand of 2 -6% qoq styrene products 1,109 955 938 and SBR  Lower int’l sale prices in US$ 87 88 83  Closing of Zárate & San

  14. Slide 14: Holding & Others

    Holding & Others Results in nominal currency, translated into US$1 Adjusted EBITDA2, in US$ million News Update -2% yoy 53 +28% qoq 49 • TGS Refinor 3  Semiannual remuneration update Transener 40 1 Refinor  Vaca Muerta gathering pipeline update and new pipeline 11 Transener 16  Cash dividend 9 •

  15. Slide 15: Q1 2019's Key Takeaways: Net Income to Shareholders

    Q1 2019’s Key Takeaways Results in constant currency (adjusted by inflation) Net Income to Shareholders, in AR$ million Reported Q1 19 NI to 2,847 85 (1,413) - (300) 5,156 6,375 Shareholders Power Electricity Refining & Petro- Holding, Q1 18 Generation Distribution Oil & Gas Marketing chemicals Othe

  16. Slide 16: Strong Cash & Debt Position

    Strong Cash & Debt Position Summary @ Mar-191 + Debt Cancellations + Principal Debt Profile as of March 31, 20191 Share Buyback, in US$ million In US$ million Consolidated debt from FS US$1,902 million Pampa Edenor Transener @ O/S TGS @ O/S Other affiliates @ O/S + Affiliates' debt @ O/S US$228 mill

  17. Slide 17: Thank you! Any Questions?

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

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