Q4 2024 Pampa Energia SA Earnings Call Transcript
Key Points
- Pampa Energia SA (PAM) achieved a 21% growth in average output for 2024, with an 80% increase since 2017, driven by top-performing wells in Vaca Muerta.
- The company commissioned the PEPE six wind farm, adding 140 megawatts of green energy, and achieved a 95% availability rate in 2024.
- EBITDA grew 19% year-on-year, with significant contributions from power and gas segments, and net debt fell to $410 million, the lowest since 2016.
- Gas production rose 11% year-on-year in Q4, with shale gas increasing its share to nearly 50% in 2024.
- Pampa Energia SA (PAM) successfully extended debt maturities and improved its financial position, with a net leverage ratio of 0.6 times, the lowest since 2016.
- Higher operating costs and lower exports partially offset gains in Q4, with a decrease in EBITDA due to seasonality.
- Adjusted EBITDA for the EMP segment was down 26% year-on-year in Q4, largely due to lower sales to industries in Chile and higher operating costs.
- Lifting costs per BOE rose to $8.7, with gas lifting costs increasing by 10% due to lower seasonal output.
- The company anticipates a year with negative free cash flow in 2025 due to significant CapEx deployment in Rincon de Aranda.
- The damage to two dams in Nihuiles was catastrophic, affecting 130 megawatts of capacity, though it represents less than 1% of EBITDA.
Recording in progress. There will be a Q&A session. Questions can only be submitted in writing through Zoom. Should any participant need help, please send us a chat message. Before proceeding, please read the disclaimer on the 2nd page of our presentation. Let me mention that forward-looking statements are based on Pampa Energia's management beliefs and assumptions and information currently available to the company. They involve risks, uncertainties, and assumptions because they are related to future events that may or may not occur.
Investors should understand that general economic and industry conditions and other operating factors could also affect the future results of Pampa Energia here and could cost results to differ materially from those expressed in such forward-looking statements. Now I will turn the video conference over to Lida. Please go ahead.
Thank you, Raquel. Thank you hello everyone and thank you
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