Pampa Energia Announces Results for the fiscal year and quarter ended on December 31st, 2014

BUENOS AIRES, Argentina, March 11, 2015 /PRNewswire/ -- Pampa Energia S.A. (NYSE: PAM; Buenos Aires Stock Exchange: PAMP), the largest integrated electricity company in Argentina that, through its subsidiaries, participates in the generation, transmission and distribution of electricity, announces the results for the fiscal year and quarter ended on December 31, 2014: All figures are stated in Argentine Pesos and have been prepared in accordance with International Financial Reporting Standards.

Highlights for the Fiscal Year 2014

Consolidated sales revenues of AR$6,204.6 million^[1] for the fiscal year ended on December 31, 2014, 16.3% higher than the AR$5,335.0 million for the fiscal year of 2013, primarily explained by increases of 31.4% (AR$544.1 million) in generation, 4.6% (AR$157.7 million) in distribution and 99.8% (AR$209.6 million) in holding and others segments.

Adjusted consolidated EBITDA^[2] of AR$(320.7) million for the fiscal year ended on December 31, 2014, compared to AR$(505.9) million for the fiscal year of 2013, mainly due to increases of AR$747.9 million in generation, AR$208.3 million in transmission and AR$128.0 million in holding and others, partially offset by a decrease of AR$899.0 million in distribution.

Consolidated profit of AR$529.5 million during the fiscal year ended on December 31, 2014, of which a profit of AR$743.2 million are attributable to the owners of the Company, compared to a AR$286.1 million profit attributable to the owners of the Company in the fiscal year of 2013, mainly explained by profits of AR$633.0 million in generation, AR$34,1 million in transmission and AR$963.9 million in holding and others, partially offset by a loss of AR$1,101.4 million in the distribution segment.

Highlights for the Fourth Quarter of 2014^[3]

Consolidated sales revenues of AR$1,662.0 million for the quarter ended on December 31, 2014, 20.8% higher than the AR$1,376.3 million for the same period of 2013, mainly explained by increases of 55.2% (AR$252.5 million) in generation and 109.6% (AR$73.5 million) in holding and others, partially offset by a decrease of 2.5% (AR$22.0 million) in the distribution segment.

Adjusted consolidated EBITDA of AR$(325.1) million, AR$210.7 million of higher losses compared to AR$(114.5) million in the same period of 2013, mainly due to higher losses of AR$403.0 million in distribution, partially offset by increases of AR$80.2 million in generation, AR$26.2 million in transmission and AR$85.9 million in holding and others segments profits.

Consolidated profit of AR$1,112.0 million in the fourth quarter ended on December 31, 2014, of which AR$728.0 million profit are attributable to the owners of the Company, compared to AR$98.6 million attributable to the owners of the Company in the same period of 2013. The Q4 14's results includes AR$1,536.4 million profit in the distribution segment due to the recognition of retroactive costs by the application of Resolution SE No. 250/13 and subsequent Notes ('MMC'), compared to AR$720.4 million recognized in the same period of 2013, plus a net profit of AR$369.1 million due to an increase in the recoverable value of credits held against CAMMESA in the generation segment.

Consolidated Balance Sheet
(As of December 31, 2014 and December 31, 2013, in millions of Argentine Pesos)

Consolidated Income Statement
(For the Fiscal Year and quarter ended on December 31, 2014 and 2013, in millions of Argentine Pesos)

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 fourth quarter 2014 results on Thursday March 12, 2015 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 Mr. Mariano Batistella, Special Projects, Planning Manager and Investor Relations Officer of Pampa. For those interested in participating, please dial 0800-444-2930 in Argentina, +1 (877) 317-6776 in the United States or +1 (412) 317-6776 from any other country. Participants of the conference call should use the identification password Pampa Energia / 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.

For further information, contact:

Ricardo Torres - Chief Executive Officer
Mariano Batistella – Special Projects and Planning Manager and Investor Relations Officer
Lida Wang - Investor Relations and Special Projects Associate
3302 Ortiz de Ocampo, Building #4
(C1425DSR) Ciudad Autonoma de Buenos Aires, Argentina
Phone: +54 (11) 4809 9500
http://www.pampaenergia.com/ir
[email protected]

^[1] Under the International Financial Reporting Standards ('IFRS'), we no longer consolidate the Transmission segment, and our net income in said segment is shown in the line 'Results for participation in joint businesses'. For more information, please refer to section 4 of the Earnings Release.

^[2] Adjusted consolidated EBITDA represents the consolidated results for continuing activities before net financial results, income taxes, depreciation, amortization, reserve directors options, one-time income and expenses, and non-controlling interests, including PUREE proceeds, other non-accrued collections, and other adjustments related to IFRS. For more information, please refer to section 4 of the Earnings Release.

^[3] The financial information presented in this document for the quarters ended on December 31, 2014 and of 2013 are based on unaudited financial statements prepared according to the IFRS accounting standards in force in Argentina corresponding to the fiscal year ended on December 31, 2014 and of 2013, and the nine-month periods ended on September 30, 2014 and of 2013.

SOURCE Pampa Energia S.A.

Related Links

http://www.pampaenergia.com