Pampa Energia SA【PAM】株式ニュース

Pampa Energía Announces First Quarter 2026 ResultsMay 6, 2026 5:35 PM
ACCESS NewswireBUENOS AIRES, AR / ACCESS Newswire / May 6, 2026 / Pampa Energía S.A. (NYSE:PAM)(Buenos Aires Stock Exchange:PAMP), an independent energy company with active participation in Argentine oil, gas and electricity, announces the results for the quarter ended on March 31, 2026.Pampa reports its financial information in US$, its functional currency. For local currency equivalents, transactional exchange rate (‘FX') is applied. However, Transener and Transportadora de Gas del Sur's (‘TGS') figures are adjusted for inflation as of March 31, 2026, and converted to US$ using the period-end FX. Previously reported figures remained unchanged.First quarter 2026 (‘Q1 26') main results[1]Sales reached US$573 million in Q1 26[2], up 38% year-on-year, driven primarily by higher shale oil production at Rincón de Aranda and the Wholesale Electricity Market's (‘WEM') new power generation framework, which led to stronger spot prices and increased gas sales to our thermal power plants. Lower crude oil prices and volumes sold under the Plan Gas Gas Sale Agreements (‘GSA') partially offset these effects.The Q1 26 reflected sustained expansion in shale oil production at Rincón de Aranda, together with higher gas sales, supported by the vertical integration with the power generation business.Pampa's main operational KPIs Q1 26 Q1 25 Variation Oil and gasProduction (kboe/day) 100.6 72.7 +38%
Gas production (kboepd) 81.2 69.5 +17%
Crude oil production (kbpd) 19.5 3.2 +502%
Average gas price (US$/MBTU) 2.9 3.0 -4%
Average oil price (US$/bbl)* 58.2 68.4 -15% PowerGeneration (GWh) 5,738 5,951 -4%
Gross margin (US$/MWh) 29.4 24.5 +20%

PetrochemicalsVolume sold (k ton) 83 84 -0%
Average price (US$/ton) 1,055 1,095 -4%Note: * Price net of export duty and quality/logistic discounts.Adjusted EBITDA[3] totaled US$325 million in Q1 26, a 48% year-on-year increase, reflecting higher shale oil contributions, stronger spot margins in power generation, and growth in gas sales, offset by lower realized crude oil prices due to hedging.Net income attributable to shareholders was US$214 million, 40% higher than Q1 26, driven by stronger operating margins and a higher recognition of a non-cash deferred income tax credit, as inflation outpaced the AR$ devaluation. These effects were partially offset by the recovery of a customs contingency recorded in Q1 25.Net debt stood at US$1.2 billion as of March 2026, vs. US$801 million as of December 2025, reflecting higher capital expenditures and increased collateral requirements due to oil hedging.[1] The information is based on financial statements (‘FS') prepared according to International Financial Reporting Standards (‘IFRS') in force in Argentina.
[2] Sales from the affiliates CTBSA, Transener and TGS are excluded, shown as ‘Results for participation in joint businesses and associates.'
[3] Consolidated adjusted EBITDA represents the flows before financial items, income tax, depreciations and amortizations, extraordinary and non-cash income and expense, equity income, and includes affiliates' EBITDA at our ownership.Consolidated balance sheet
(As of March 31, 2026 and December 31, 2025, in US$ million)In US$ million As of 03.31.2026 As of 12.31.2025 ASSETS Property, plant and equipment 3,384 3,303 Intangible assets 88 89 Right-of-use assets 30 36 Deferred tax asset 293 43 Investments in associates and joint ventures 1,261 1,059 Financial assets at fair value through profit and loss 33 33 Trade and other receivables 66 43 Total non-current assets 5,155 4,606 Inventories 238 231 Financial assets at fair value through profit and loss 441 366 Derivatives - 52 Trade and other receivables 947 614 Cash and cash equivalents 236 725 Total current assets 1,862 1,988 Total assets 7,017 6,594 EQUITY Share capital 36 36 Share capital adjustment 191 191 Share premium 517 516 Treasury shares adjustment 1 1 Treasury shares cost (54) (54)Legal reserve 44 44 Voluntary reserve 2,399 2,399 Other reserves (13) (12)Other comprehensive income 18 124 Retained earnings 639 351 Equity attributable to owners of the company 3,778 3,596 Non-controlling interest 11 9 Total equity 3,789 3,605 LIABILITIES Provisions 73 100 Income tax and minimum notional income tax provision 26 26 Tax liabilities 220 212 Deferred tax liability 46 56 Defined benefit plans 29 26 Borrowings 1,841 1,844 Trade and other payables 81 86 Total non-current liabilities 2,316 2,350 Provisions 14 13 Income tax liability 197 83 Tax liabilities 69 56 Defined benefit plans 7 6 Salaries and social security payable 24 36 Derivatives 181 - Borrowings 39 48 Trade and other payables 381 397 Total current liabilities 912 639 Total liabilities 3,228 2,989 Total liabilities and equity 7,017 6,594 Consolidated income statement
(For the quarters ended on March 31, 2026 and 2025, in US$ million) In US$ million First quarter 2026 2025 Sales revenue 573 414 Domestic sales 451 352 Foreign market sales 122 62 Cost of sales (380) (285) Gross profit 193 129 Selling expenses (26) (21)Administrative expenses (44) (43)Other operating income 9 32 Other operating expenses (19) (22)Impairment of financial assets (1) - Impairment of inventories (1) - Results for part. in joint businesses & associates 67 46 Operating income 178 121 Financial income 4 33 Financial costs (39) (41)Other financial results 7 37 Financial results, net (28) 29 Profit before tax 150 150 Income tax 66 4 Net income for the period 216 154 Attributable to the owners of the Company 214 153 Attributable to the non-controlling interest 2 1 Net income per share to shareholders 0.2 0.1 Net income per ADR to shareholders 3.9 2.8 Average outstanding common shares1 1,360 1,360 Outstanding shares by the end of period1 1,360 1,360 Note: 1 Includes shares allocated to the employee compensation plan, which amounted to 3.9 million and 3.6 million shares as of March 31, 2025, and 2026, respectively. Treasury shares are deducted from shares outstanding only if they are held as common shares.Consolidated cash flow statement
(For the quarters ended on March 31, 2026 and 2025, in millions) In US$ million First quarter 2026 2025 OPERATING ACTIVITIES Profit of the period 216 154 Adjustments to reconcile net profit to cash flows from operating activities 34 3 Changes in operating assets and liabilities (483) (67)Increase in trade receivables and other receivables (472) (112) Increase in inventories (8) (23) Increase in trade and other payables 24 79 Decrease in salaries and social security payables (14) (13) Defined benefit plans payments (1) (1) (Decrease) increase in tax liabilities (7) 5 Decrease in provisions (1) (2) Payments for derivative financial instruments, net (4) - Net cash generated by (used in) operating activities (233) 90 INVESTING ACTIVITIES Payment for property, plant and equipment acquisitions (265) (162)Collection for sales of public securities and shares, net 87 151 Subscription of mutual funds, net (9) - Capital integration in companies (16) (31)Payment for right-of-use - (1) Net cash used in investing activities (203) (43) FINANCING ACTIVITIES Proceeds from borrowings - 45 Payment of borrowings (23) (70)Payment of borrowings interests (22) (38)Repurchase and redemption of corporate bonds (2) (360)Payment of leases (6) (1) Net cash used in financing activities (53) (424) Decrease in cash and cash equivalents (489) (377) Cash and cash equivalents at the beginning of the period 725 738 Decrease in cash and cash equivalents (489) (377) Cash and cash equivalents at the end of the period 236 361 For the full version of the Earnings Report, please visit Pampa's Investor Relations website: ri.pampa.com/en.Information about the videoconferenceThere will be a videoconference to discuss Pampa's Q1 26 results on Thursday, May 7, 2026, at
10:00 a.m. Eastern Standard Time/11:00 a.m. Buenos Aires Time. The hosts will be Gustavo Mariani, CEO, Horacio Turri, EVP and head of oil and gas, Adolfo Zuberbühler, CFO and Lida Wang, IR & ESG Officer at Pampa.For those interested in participating, please register here.For further information about Pampa:investor@pampa.comri.pampa.com/en www.argentina.gob.ar/cnvwww.sec.govSOURCE: 1/3 Pampa Energía S.A.View the original press release on ACCESS NewswireOriginal: Pampa Energía Announces First Quarter 2026 Results

Pampa Energía Announces Fiscal Year and Fourth Quarter 2025 ResultsMarch 2, 2026 4:00 PM
ACCESS NewswireBUENOS AIRES, AR / ACCESS Newswire / March 2, 2026 / Pampa Energía S.A. (NYSE:PAM)(Buenos Aires Stock Exchange:PAMP), an independent company with active participation in Argentine oil, gas and electricity, announces the results for the fiscal year and quarter ended on December 31, 2025.Pampa reports its financial information in US$, its functional currency. For local currency equivalents, transactional exchange rate (‘FX') is applied. However, Transener and Transportadora de Gas del Sur's (‘TGS') figures are adjusted for inflation as of December 31, 2025, and converted into US$ using the period-end FX. Previously reported figures remained unchanged.Fourth quarter 2025 ('Q4 25') main results1Sales recorded US$507 million in Q4 252, a 16% year-on-year increase, driven by higher crude oil production at Rincón de Aranda, improved spot prices under the new Wholesale Electricity Market ('WEM') framework for our thermal units and higher gas exports to Chile, offset by lower income from the styrenics business and from units under Power Purchase Agreements ('PPAs').Q4 25 was market by sustained shale oil growth at Rincón de Aranda and strong performance across our thermal power plants.Pampa's main operational KPIs Q4 25 Q4 24 Variation Oil and gas Production (kboe/day) 81.2 61.6 +32%Gas production (kboepd) 63.2 57.6 +10%Crude oil production (kbpd) 18.0 4.0 +355%Average gas price (US$/MBTU) 3.0 2.9 +4%Average oil price (US$/bbl)* 60.9 67.6 -10% Power Generation (GWh) 4,947 4,797 +3%Gross margin (US$/MWh) 26.6 22.8 +16% Petrochemicals Volume sold (k ton) 129 121 +7%Average price (US$/ton) 886 1,017 -13%Note: * Price net of export duty and quality/logistic discounts.Adjusted EBITDA3 reached US$230 million in Q4 25, a 26% year-on-year increase, mainly reflecting the growing contribution from Rincón de Aranda, the impact of the WEM's new framework in power generation, higher gas exports and stronger reforming margins. These effects were partially offset by lower contributions from PPAs and by the deconsolidation of Oleoducto de Crudos Pesados S.A. (‘OCP Ecuador') within the holding, transport, and others.Net income attributable to shareholders was US$161 million, 52% higher than Q4 24, driven by stronger operating margins and the recognition of a non-cash deferred income tax credit, as inflation outpaced the AR$ devaluation during Q4 25, offset by weaker net financial results.1The information is based on financial statements ('FS') prepared according to International Financial Reporting Standards ('IFRS') in force in Argentina.
2Sales from the affiliates CTBSA, Transener and TGS are excluded, shown as ‘Results for participation in joint businesses and associates.'
3Consolidated adjusted EBITDA represents the flows before financial items, income tax, depreciations and amortizations, extraordinary and non-cash income and expense, equity income, and includes affiliates' EBITDA at our ownership. Further information on section 3.1.Net debt decreased to US$801 million as of December 2025, compared to US$874 million as of September 2025, reflecting solid free cash flow generation and reduced collateral requirements.Consolidated balance sheet
(As of December 31, 2025 and December 2024, in millions)In US$ million As of 12.31.2025 As of 12.31.2024 ASSETS Property, plant and equipment 3,303 2,607 Intangible assets 89 95 Right-of-use assets 36 11 Deferred tax asset 43 157 Investments in associates and joint ventures 1,059 993 Financial assets at fair value through profit and loss 33 27 Trade and other receivables 43 75 Total non-current assets 4,606 3,965 Inventories 231 223 Financial assets at amortized cost - 80 Financial assets at fair value through profit and loss 366 850 Derivative financial instruments 52 1 Trade and other receivables 614 488 Cash and cash equivalents 725 738 Total current assets 1,988 2,380 Total assets 6,594 6,345 EQUITY Share capital 36 36 Share capital adjustment 191 191 Share premium 516 516 Treasury shares adjustment 1 1 Treasury shares cost (54) (7)Legal reserve 44 44 Voluntary reserve 2,399 1,657 Other reserves (12) (13)Other comprehensive income 124 119 Retained earnings 351 742 Equity attributable to owners of the company 3,596 3,286 Non-controlling interest 9 9 Total equity 3,605 3,295 LIABILITIES Provisions 100 137 Income tax and minimum notional income tax provision 26 75 Tax liabilities 212 - Deferred tax liability 56 49 Defined benefit plans 26 30 Borrowings 1,844 1,373 Trade and other payables 86 84 Total non-current liabilities 2,350 1,748 Provisions 13 10 Income tax liability 83 257 Tax liabilities 56 30 Defined benefit plans 6 7 Salaries and social security payable 36 39 Borrowings 48 706 Trade and other payables 397 253 Total current liabilities 639 1,302 Total liabilities 2,989 3,050 Total liabilities and equity 6,594 6,345 Consolidated income statement
(For the fiscal year and quarters ended on December 31, 2025 and 2024, in millions)In US$ million Fiscal year Fourth quarter 2025 2024 2025 2024 Sales revenue 1,998 1,876 507 435 Domestic sales 1,618 1,575 411 368 Foreign market sales 380 301 96 67 Cost of sales (1,369) (1,279) (369) (349) Gross profit 629 597 138 86 Selling expenses (98) (74) (29) (17)Administrative expenses (192) (239) (61) (100)Exploration expenses - (21) - (21)Other operating income 100 175 15 59 Other operating expenses (72) (88) (10) (16)Impairment of financial assets (21) (56) (16) - Recovery of impairment (Impairment) of PPE, int. assets and inventories 15 (34) 23 (15)Results for part. in joint businesses & associates 142 146 41 45 Income from the sale of associates - 34 - 27 Operating income 503 440 101 48 Financial income 45 32 3 28 Financial costs (196) (185) (45) (48)Other financial results 230 211 93 97 Financial results, net 79 58 51 77 Profit before tax 582 498 152 125 Income tax (204) 121 10 (19) Net income for the period 378 619 162 106 Attributable to the owners of the Company 377 619 161 106 Attributable to the non-controlling interest 1 - 1 - Net income per share to shareholders 0.3 0.5 0.1 0.1 Net income per ADR to shareholders 6.9 11.4 3.0 1.9 Average outstanding common shares1 1,360 1,360 1,360 1,360 Outstanding shares by the end of period1 1,360 1,360 1,360 1,360 Consolidated cash flow statement
(For the fiscal year and quarters ended on December 31, 2025 and 2024, in millions)In US$ million Fiscal year Fourth quarter 2025 2024 2025 2024 OPERATING ACTIVITIES Profit of the period 378 619 162 106 Adjustments to reconcile net profit to cash flows from operating activities 418 152 11 12 Changes in operating assets and liabilities (18) (336) 115 31 (Increase) decrease in trade receivables and other receivables (100) (411) 119 47 (Increase) decrease in inventories (13) (20) 21 13 Increase in trade and other payables 69 75 (25) (5) Increase in salaries and social security payables 10 25 8 10 Defined benefit plans payments (3) (3) (1) (1) Increase (decrease) in tax liabilities 22 17 (3) (17) Decrease in provisions (10) (19) (3) (16) Income tax payment (8) - (8) - Collection for derivative financial instruments, net 15 - 7 - Net cash generated by (used in) operating activities 778 435 288 149 INVESTING ACTIVITIES Payment for property, plant and equipment acquisitions (993) (447) (242) (97)Collection for sales (Payment for purchases) of public securities and shares, net 592 (5) 216 21 Recovery (Suscription) of mutual funds, net 3 (10) (8) (9)Capital integration in companies (44) - (3) - Payment for companies' acquisitions (1) (48) (1) - Collection for equity interests in companies sales 1 39 - 21 Collection for joint ventures' share repurchase - 37 - - Collections for intangible assets sales 9 - - - Dividends collection 25 9 - 1 Collection for equity interests in areas sales 7 9 5 9 Cash addition from purchase of subsidiary - 71 - - Collection of loans, net - 1 - 1 Net cash generated by (used in) investing activities (401) (344) (33) (53) FINANCING ACTIVITIES Proceeds from borrowings 986 1,174 432 464 Payment of borrowings (306) (236) (178) (142)Payment of borrowings interests (161) (145) (39) (27)Repurchase and redemption of corporate bonds (837) (313) (111) 16 Payment for treasury shares acquisition (47) - (31) - Payment of dividends (1) - (1) - Payment of leases (24) (4) (13) (1) Net cash (used in) generated by financing activities (390) 476 59 310 (Decrease) Increase in cash and cash equivalents (13) 567 314 406 Cash and cash equivalents at the beginning of the period 738 171 411 332 (Decrease) Increase in cash and cash equivalents (13) 567 314 406 Cash and cash equivalents at the end of the period 725 738 725 738 For the full version of the Earnings Report, please visit Pampa's Investor Relations website: ri.pampa.com/en.Information about the videoconferenceThere will be a videoconference to discuss Pampa's Q4 25 results on Monday, March 2, 2026, at 4:30 p.m. Eastern Standard Time/6:30 p.m. Buenos Aires Time. The hosts will be Gustavo Mariani, CEO, head of oil and gas Horacio Turri, Adolfo Zuberbühler, CFO and Lida Wang, IR & ESG Officer at Pampa.For those interested in participating, please register here.For further information about Pampa:investor@pampa.comri.pampa.com/enwww.argentina.gob.ar/cnvwww.sec.govSOURCE: 1/3 Pampa Energía S.A.View the original press release on ACCESS NewswireOriginal: Pampa Energía Announces Fiscal Year and Fourth Quarter 2025 Results