Pampa Energía announces second quarter 2022 results

Q2 22

Q2 21

Variation

Power

Generation (GWh)

4,477

3,808

+18 %

Gross margin (US$/MWh)

22.1

35.0

-37 %

Hydrocarbon

Production (k boe/day)

64.6

47.7

+35 %

Gas over total production

92 %

90 %

+2 %

Average gas price (US$/MBTU)

4.4

3.9

+14 %

Average oil price (US$/bbl)

72.6

57.7

+26 %

Petrochemicals

Volume sold (k ton)

91

76

+19 %

Average price (US$/ton)

1,739

1,285

+35 %

Figures in million

As of 6.30.2022

As of 12.31.2021

AR$

US$ FX 125.23

AR$

US$ FX 102.72

ASSETS

Property, plant and equipment

213,941

1,708

170,390

1,659

Intangible assets

5,732

46

3,956

39

Right-of-use assets

1,070

9

1,231

12

Deferred tax asset

26,073

208

8,675

84

Investments in joint ventures and associates

109,591

875

79,500

774

Financial assets at amortized cost

12,585

100

10,821

105

Financial assets at fair value through profit and loss

3,654

29

2,998

29

Other assets

69

1

61

1

Trade and other receivables

3,284

26

3,379

33

Total non-current assets

375,999

3,002

281,011

2,736

Inventories

21,590

172

15,888

155

Financial assets at amortized cost

1,276

10

537

5

Financial assets at fair value through profit and loss

56,428

451

47,026

458

Derivative financial instruments

172

1

16

0

Trade and other receivables

59,654

476

40,892

398

Cash and cash equivalents

13,172

105

11,283

110

Total current assets

152,292

1,216

115,642

1,126

Assets classified as held for sale

1,544

12

-

-

Total assets

529,835

4,231

396,653

3,861

EQUITY

Equity attributable to owners of the company

250,953

2,004

183,431

1,786

Non-controlling interest

968

8

609

6

Total equity

251,921

2,012

184,040

1,792

LIABILITIES

Investments in joint ventures

424

3

386

4

Provisions

17,758

142

14,444

141

Income tax and presumed minimum income tax liabilities

26,405

211

19,287

188

Defined benefit plans

3,210

26

2,419

24

Borrowings

175,046

1,398

139,630

1,359

Other payables

1,894

15

1,340

13

Total non-current liabilities

224,737

1,795

177,506

1,728

Provisions

594

5

560

5

Income tax liabilities

10,256

82

2,098

20

Taxes payables

4,499

36

2,314

23

Defined benefit plans

403

3

515

5

Salaries and social security payable 

2,411

19

2,876

28

Derivative financial instruments

-

-

18

0

Borrowings

8,746

70

8,165

79

Trade and other payables

26,268

210

18,561

181

Total current liabilities

53,177

425

35,107

342

Total liabilities

277,914

2,219

212,613

2,070

Total liabilities and equity

529,835

4,231

396,653

3,861

First half

Second quarter

Figures in million

2022

2021

2022

2021

AR$

US$

AR$

US$

AR$

US$

AR$

US$

Sales revenue

99,523

874

61,211

667

55,512

462

32,576

346

Cost of sales

(61,259)

(543)

(35,343)

(386)

(34,872)

(295)

(18,990)

(201)

Gross profit

38,264

331

25,868

281

20,640

167

13,586

145

Selling expenses

(3,358)

(30)

(1,083)

(12)

(1,438)

(11)

(541)

(5)

Administrative expenses

(7,326)

(63)

(4,043)

(44)

(3,797)

(31)

(2,027)

(21)

Exploration expenses

(15)

-

(44)

-

(7)

-

(37)

-

Other operating income

4,357

36

4,846

50

3,057

25

3,870

39

Other operating expenses

(2,632)

(23)

(3,831)

(42)

(964)

(8)

(781)

(9)

Impairment of financial assets

(519)

(4)

(196)

(2)

(392)

(3)

(93)

(1)

Impairment of PPE, int. assets & inventories

(4,384)

(35)

(172)

(2)

(4,375)

(35)

(172)

(2)

Results for part. in joint businesses & associates

6,861

57

3,101

34

4,179

32

875

8

Operating income

31,248

269

24,446

263

16,903

136

14,680

154

Financial income

450

5

337

3

204

2

172

1

Financial costs

(8,794)

(78)

(7,841)

(86)

(4,599)

(39)

(3,855)

(41)

Other financial results

(4,170)

(35)

2,931

29

(3,881)

(33)

4,992

53

Financial results, net

(12,514)

(108)

(4,573)

(54)

(8,276)

(70)

1,309

13

Profit before tax

18,734

161

19,873

209

8,627

66

15,989

167

Income tax

(29)

6

(6,106)

(64)

(376)

1

(5,391)

(56)

Net income for continuing operations

18,705

167

13,767

145

8,251

67

10,598

111

Net income (loss) from discontinued operations

-

-

(7,129)

(75)

-

-

(7,654)

(80)

Net income (loss) for the period

18,705

167

6,638

70

8,251

67

2,944

31

Attributable to the owners of the Company

18,469

165

9,773

103

8,165

66

6,621

70

Continuing operations

18,469

165

13,499

142

8,165

66

10,349

108

Discontinued operations

-

(0)

(3,726)

(39)

-

-

(3,728)

(38)

Attributable to the non-controlling interests

236

2

(3,135)

(33)

86

1

(3,677)

(39)

Net income (loss) per share to shareholders

13.37

0.12

6.84

0.07

5.91

0.05

4.68

0.05

From continuing operations

13.37

0.12

9.45

0.10

5.91

0.05

7.32

0.08

From discontinued operations

-

(0.0001)

(2.61)

(0.03)

-

-

(2.64)

(0.03)

Net income (loss) per ADR to shareholders

334.34

2.99

171.10

1.80

147.85

1.20

117.09

1.24

From continuing operations

334.34

2.99

236.33

2.49

147.85

1.20

183.02

1.92

From discontinued operations

-

(0.003)

(65.23)

(0.69)

-

-

(65.93)

(0.67)

Average outstanding common shares1

1,381

1,428

1,381

1,414

1,380

1,395

1,380

1,395

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