Pampa Energia Announces Results for the Quarter Ended on March 31st, 2014

BUENOS AIRES, Argentina, May 12, 2014 /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 quarter ended on March 31, 2014. All figures are stated in Argentine Pesos and have been prepared in accordance with International Financial Reporting Standards.

Highlights for the First Quarter of 2014

Consolidated sales revenues of AR$1,431.4 million¹ for the quarter ended on March 31, 2014, 2.8% higher than the AR$1,392.2 million for the same period of 2013, primarily explained by increases of 7.7% (AR$64.2 million) in distribution and 108.5% (AR$40.1 million) in holding and others segments, partially offset by a decrease of 8.7% (AR$45.7 million) in the generation segment.

Adjusted consolidated EBITDA² of AR$78.4 million, compared to AR$(140.5) million for the same period of 2013, mainly due to increases of AR$224.1 million in generation, AR$74.4 million in the transmission segment and AR$29.4 million in holding and others, which were partially offset by a decrease of AR$108.9 million in distribution.

Consolidated loss of AR$719.8 million during the quarter ended on March 31, 2014, of which AR$390.1 million are attributable to the owners of the Company, compared to a AR$386.6 million loss attributable to the owners of the Company in the same period of 2013. The results from first quarter of 2014 were affected by a loss of AR$617.9 million from net exchange rate difference, which was caused by the 23% devaluation of local currency against US Dollar.

Consolidated Balance Sheet

(As of March 31, 2014 and December 31, 2013, in millions of Argentine Pesos)

Consolidated Income Statement

(For the quarter ended on March 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.

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 Pampa's full 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 Pampa's full Earnings Release.

Information about the Conference Call

There will be a conference call to discuss Pampa and Edenor's first quarter 2014 results on Wednesday May 14, 2014 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] 

SOURCE Pampa Energia S.A.