Pampa Energía S.A. Announces Results for the Quarter Ended on March 31, 2017

BUENOS AIRES, Argentina, May 11, 2017 /PRNewswire/ -- 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 quarter ended on March 31, 2017. All figures are stated in Argentine Pesos and have been prepared in accordance with International Financial Reporting Standards.

Main Results for the First Quarter of 2017 ('Q1 17')^[1]:

Consolidated sales revenues of AR$15,166 million^[2] for the quarter ended on March 31, 2017, compared to AR$4,227 million for the first quarter 2016 ('Q1 16'), mainly explained by increases of AR$1,078 million in power generation, AR$2,377 million in electricity distribution, AR$3,420 million in oil and gas, AR$3,991 million in refining and distribution, AR$1,807 million in petrochemicals and AR$87 million in holding and others segment, partially offset by higher eliminations from intersegment sales of AR$1,821 million.

Consolidated adjusted EBITDA^[3] of AR$3,861 million for the quarter ended on March 31, 2017, compared to an adjusted EBITDA of AR$1,589 million for Q1 16, mainly due to increases of AR$556 million in power generation, AR$1,511 million in oil and gas segment, AR$269 million in refining and distribution, AR$98 million in petrochemicals and AR$26 million in intersegment eliminations, partially offset by reductions of AR$52 million in electricity distribution and AR$135 million in holding and others.

Consolidated gain of AR$2,295 million for the quarter ended on March 31, 2017, of which AR$1,901 million are attributable to the owners of the Company, AR$1,293 million higher compared to the gain of AR$608 million attributable to the owners of the Company in the Q1 16, explained by reported higher earnings in our segments of power generation (AR$1,017 million), electricity distribution (AR$546 million), oil and gas (AR$852 million), refining and distribution (AR$217 million), petrochemicals (AR$64 million) and intersegment eliminations (AR$26 million), partially offset by reported higher losses in our segment of holding and others (AR$1,429 million). 

For the full version of this Results Report, please visit Pampa's Investor Relations website: www.pampaenergia.com/ir.

Information about the Conference Call

There will be a conference call to discuss Pampa and Edenor's first quarter 2017 results on Friday May 12, 2017 at 10:00 a.m. New York Time / 11:00 a.m. Buenos Aires Time.

The hosts will be Mr. Leandro Montero, CFO of Edenor and Ms. Lida Wang, Investor Relations Manager at Pampa. For those interested in participating, please dial 0-800-444-2930 in Argentina, +1 (844) 854-4411 in the United States or +1 (412) 317-5481 from any other country. Participants of the conference call should use the identification password Pampa Energía / Edenor and dial in five minutes before the scheduled time. There will also be a live audio webcast of the conference at www.pampaenergia.com/ir.

You may find additional information on the Company at:

• www.pampaenergia.com/ir
• www.cnv.gob.ar
• www.sec.gov

For further information, contact:

Gustavo Mariani
Executive Vice-president

Ricardo Torres
Executive Vice-president

Mariano Batistella
Executive Director of Planning, Strategy & Affiliates

Lida Wang
Investor Relations Officer

The Pampa Energía Building, Maipú 1 (C1084AB) Ciudad de Buenos Aires, Argentina
Tel: +54 (11) 4344-6000
investor@pampaenergia.com 
www.pampaenergia.com/ir 

^[1] The financial information presented in this document for the quarters ended on March 31, 2017 and of 2016 are based on unaudited financial statements prepared according to the IFRS accounting standards in force in Argentina.

^[2] Under the IFRS, Greenwind, OldelVal, Refinor, Transener and TGS are not consolidated in Pampa's income statement and balance sheet, being only its equity income shown as 'Results for participation in associates' and 'Results for participation in joint businesses'. For more information, please refer to section 3 of the Earnings Release.

^[3] Consolidated adjusted EBITDA represents the consolidated results before net financial results, income tax and minimum notional income tax, depreciations and amortizations, non-recurring incomes and expenses and non-controlling interest, and includes other incomes not accrued and other adjustments from the IFRS implementation. For more information, please refer to section 3 of the Earnings Release.

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SOURCE Pampa Energia S.A.