BUENOS AIRES, Argentina, Nov. 11 /PRNewswire-FirstCall/ -- Pampa
Energia S.A. (NYSE: PAM; Buenos Aires Stock Exchange: PAMP)
("Pampa" or the "Company"), the largest integrated electricity
company in Argentina that, through its subsidiaries, participates
in the generation, transmission and distribution of electricity,
announces today its results corresponding to the nine-month period
ended September 30, 2009. All figures are stated in Argentine pesos
and have been prepared in accordance with Argentine GAAP.
HIGHLIGHTS FOR THE NINE-MONTH PERIOD ENDED SEPTEMBER 30, 2009 -
Consolidated Net Sales Revenues of AR$3,386.3 million for the nine
months ended September 30, 2009, 14.8% higher than the AR$2,949.0
million for the same period of 2008, mainly due to a 13.9% increase
in the generation segment, a 33.3% increase in the transmission
segment and a 13.1% increase in the distribution segment. -
Consolidated EBITDA(*) of AR$630.6 million for the nine months
ended September 30, 2009, 8.7% higher than the AR$580.1 million for
the same period of 2008, mainly due to a 7.6% increase in the
generation segment, a 24.1% increase in the transmission segment
and a 2.6% increase in the distribution segment. - Consolidated
gain on subsidiaries bonds' repurchase of AR$244.8 million for the
nine months ended September 30, 2009, that added to the AR$190.3
million gain as of December 31, 2008, totals AR$435.1 million. -
Consolidated Net Income of AR$254.7 million for the nine months
ended September 30, 2009, or 414.4% higher than the AR$49.5 million
for the same period of 2008. HIGHLIGHTS FOR THIRD QUARTER 2009 The
financial information presented in this document for the quarters
ended September 30, 2009 and 2008 is derived from the unaudited
financial statements prepared in accordance with Argentine GAAP for
the nine month periods ended September 30, 2009 and 2008 and the
six month periods ended June 30, 2009 and 2008. - Consolidated Net
Sales Revenues of AR$1,300.3 million in the third quarter of 2009,
31.8% higher than the AR$986.6 million for the same period of 2008,
mainly due to a 58.0% increase in the generation segment, a 23.3%
increase in the transmission segment and a 7.3% increase in the
distribution segment. - Consolidated EBITDA(*) of AR$191.5 million
in the third quarter of 2009, 4.9% higher than the AR$182.6 million
for the same period of 2008, mainly due to a 36.1% increase in the
generation segment and a 31.1% increase in the transmission segment
that were partially offset by a 23.1% decrease in the distribution
segment. - Consolidated gain on subsidiaries bonds' repurchase of
AR$34.9 million in the third quarter of 2009. - Consolidated Net
Income of AR$58.5 million in the third quarter of 2009, compared to
a loss of AR$8.4 million for the same period of 2008. (*)
Consolidated EBITDA represents the consolidated income before
financial results, net, income taxes, depreciation, amortization,
reserve for directors' options, other income and expenses, net, and
minority interests. CONSOLIDATED BALANCE SHEET (AR$) (For the nine
months ended September 30, 2009, in Argentine Pesos.) 09.30.09
09.30.09 ASSETS LIABILITIES CURRENT ASSETS CURRENT LIABILITIES Cash
and banks 146,757,245 Accounts payable 526,275,054 Short-term
investments 581,993,085 Financial debt 471,582,589 Salaries and
Trade receivables, social security net 754,789,481 payable
136,339,139 Other receivables, net 278,973,381 Taxes payable
176,725,104 Materials & spare parts 40,342,824 Other
liabilities 218,543,535 Inventories 5,689,982 Provisions 59,968,000
Other assets 8,219,187 Total current Total current assets
1,816,765,185 liabilities 1,589,433,421 NON-CURRENT ASSETS
NON-CURRENT LIABILITIES Trade receivables, net 239,712,068 Accounts
payable 81,228,512 Long-term investments 210,017,483 Financial debt
1,812,615,588 Salaries and Other receivables, social security net
164,581,779 payable 57,704,135 Materials & spare parts
22,543,547 Taxes payable 570,716,170 Inventories 1,030,930 Other
liabilities 381,243,135 Fixed assets, net 6,192,033,839 Provisions
15,910,959 Intangible assets, Total non-current net 303,232,873
liabilities 2,919,418,499 Other assets 118,701,732 Total
liabilities 4,508,851,920 Sub-total non- current assets
7,251,854,251 Goodwill, net 574,255,940 Minority interest
1,743,849,023 Total non-current Shareholders' assets 7,826,110,191
equity 3,390,174,433 Total assets 9,642,875,376 Total liabilities,
minority interest and shareholders' equity 9,642,875,376
CONSOLIDATED INCOME STATEMENT (AR$) (For the nine months ended
September 30, 2009 and September 30, 2008, in Argentine Pesos.)
Nine months ended Nine months ended September 30, September 30,
2009 2008 Sales revenue 3,386,312,055 2,948,987,990 Cost of sales
(2,685,324,505) (2,318,245,959) Gross profit 700,987,550
630,742,031 - - Selling expenses (111,254,182) (99,865,197)
Administrative expenses (207,059,753) (185,261,435) Goodwill
amortization (15,001,948) (14,959,219) Operating income 367,671,667
330,656,180 - - Financial and holding results generated by assets:
Interest income 34,682,858 28,174,417 Taxes and bank commissions
(8,304,438) (4,440,068) Foreign currency exchange difference
95,183,541 10,351,685 Result of receivables measured at present
value 8,014,327 26,017,441 Holding results on financial assets
122,130,011 (9,224,741) Impairment of fixed assets and other assets
(18,179,143) (60,806,296) Other financial results (1,795,387)
4,418,003 Sub-total 231,731,769 (5,509,559) - - Financial and
holding results generated by liabilities: Interest expense
(161,038,846) (145,249,050) Foreign currency exchange difference
(199,074,860) (6,299,547) Result from repurchase of financial debt
244,829,765 20,425,355 Taxes and bank commissions (13,404,820)
(10,103,511) Other financial results (8,678,246) 190,707 Sub-total
(137,367,007) (141,036,046) Total financial and holding results,
net 94,364,762 (146,545,605) - - Other income and expenses, net
8,995,933 (11,494,766) - - Income before taxes and minority
interest 471,032,362 172,615,809 - - Income tax and tax on assets
(129,467,408) (75,168,799) - - Minority interest (86,867,052)
(47,930,964) - - Net income 254,697,902 49,516,046 Basic income per
share 0.1902 0.0324 Diluted income per share 0.1825 0.0315
CONSOLIDATED INCOME STATEMENT (AR$) (For the third quarter ended
September 30, 2009 and September 30, 2008, in Argentine Pesos.) The
financial information presented in this document for the quarters
ended September 30, 2009 and 2008 is derived from the unaudited
financial statements prepared in accordance with Argentine GAAP for
the nine month periods ended September 30, 2009 and 2008 and the
six month periods ended June 30, 2009 and 2008. 3Q09 3Q08 Sales
revenue 1,300,262,147 986,612,511 Cost of sales (1,071,605,204)
(782,768,671) Gross profit 228,656,943 203,843,840 - - Selling
expenses (49,147,110) (30,468,894) Administrative expenses
(71,061,852) (69,834,274) Goodwill amortization (5,020,803)
(4,894,453) Operating income 103,427,178 98,646,219 - - Financial
and holding results generated by assets: Interest income 10,823,336
8,976,485 Taxes and bank commissions (2,693,437) (2,201,091)
Foreign currency exchange difference 7,170,674 23,387,841 Result of
receivables measured at present value 11,417,747 22,963,749 Holding
results on financial assets 27,698,663 (9,652,117) Impairment of
fixed assets and other assets (561,811) (29,415,484) Other
financial results (4,784,881) 8,539,877 Sub-total 49,070,291
22,599,260 - - Financial and holding results generated by
liabilities: Interest expense (54,065,457) (59,133,688) Foreign
currency exchange difference (16,067,174) (71,518,265) Result from
repurchase of financial debt 34,893,465 20,425,355 Taxes and bank
commissions (4,183,478) (2,536,392) Other financial results
(4,567,710) 143,699 Sub-total (43,990,354) (112,619,291) Total
financial and holding results, net 5,079,937 (90,020,031) - - Other
income and expenses, net (6,120,167) (7,951,414) - - Income before
taxes and minority interest 102,386,948 674,774 - - Income tax and
tax on assets (31,232,016) (8,392,946) Minority interest
(12,627,158) (725,326) - - Net income 58,527,774 (8,443,498) Basic
income per share 0.0437 (0.0056) Diluted income per share 0.0389
(0.0065) FOR THE FULL VERSION OF THIS RESULTS REPORT, PLEASE VISIT
http://www.pampaenergia.com/ri. CONFERENCE CALL INFORMATION There
will be a conference call to discuss Pampa's third quarter 2009
results on Friday, November 13, 2009 at 10:00 a.m. Eastern Standard
Time / 12.00 p.m. Buenos Aires Time. Mr. Ricardo Torres, Chief
Executive Officer of the Company, will be presenting for Pampa
Energia S.A. For those interested in participating, please dial 0
800 666 1537 in Argentina, or (1 706) 634 1313 from outside
Argentina. Conference-call participants should use the
identification number 37306410 and dial in five minutes before the
scheduled time. There will also be a live audio webcast of the
conference at our investor relations website:
http://www.pampaenergia.com/ri. For further information, contact:
Ricardo Torres - Chief Executive Officer Mariano Batistella -
Investor Relations Phone: 5411 4809 9500
http://www.pampaenergia.com/ri DATASOURCE: Pampa Energia S.A.
CONTACT: Ricardo Torres, Chief Executive Officer, or Mariano
Batistella, Investor Relations, +011-54-11-4809-9500, , both of
Pampa Energia S.A. Web site: http://www.pampaenergia.com/ri
http://www.pampaholding.com/
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