Q3 2020 results videoconference Disclaimer Pampa Energa 2 - - PowerPoint PPT Presentation

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q3 2020 results videoconference disclaimer
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Q3 2020 results videoconference Disclaimer Pampa Energa 2 - - PowerPoint PPT Presentation

Mar 20, 2023 238 likes •423 views

Q3 2020 results videoconference Disclaimer Pampa Energa 2 Reporting considerations Q3 2020 Q3 2019 Reporting How Pampa reports FC US$ FC US$ FC AR$ @ FC AR$ @ Sept 30, 2020 Sept 30, 2019 Inflation = 4% Inflation = 6% Devaluation

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SLIDE 1

Q3 2020 results videoconference

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SLIDE 2

Disclaimer

Pampa Energía ⚫ 2

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SLIDE 3

Reporting considerations

Q3 2020 Q3 2019 Reporting How Pampa reports FC US$ FC US$ FC AR$ @ Sept 30, 2020 Inflation = 4% Devaluation = 8% FC AR$ @ Sept 30, 2019 Inflation = 6% Devaluation = 36% Pampa Restricted Group Pampa consolidated non-GAAP

  • Pampa Energía ⚫ 3
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SLIDE 4

Aerial view of Mario Cebreiro Wind Farm, 2020 Pampa Energía ⚫ 4

The main highlights of the quarter

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SLIDE 5

128 68 52

20 40 60 80 100 120 140

242 120 234 37% 22% 34%

0% 10% 20% 30% 40% 50% 60% 70% 80% 50 100 150 200 250 300

656 544 689

100 200 300 400 500 600 700 800

Consolidated adjusted EBITDA1 Consolidated adjusted EBITDA breakdown1,2 Revenues1 Capex Pampa Restricted Group+Edenor

Q3 2020’s key takeaways Consolidated figures, in US$ million

Pampa Energía ⚫ 5

Q3 20

29% 71%

15%

11% 56%

3%

%

Q3 20 Q3 20

+5% yoy +27% qoq

  • 59% yoy
  • 23% qoq

  ✓ ✓    

3%

  • 3% yoy

+95% qoq

✓ ✓  

12%

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SLIDE 6

Argentina’s net electricity demand, monthly average in MW

Winter season and lockdown easing drove demand up

Pampa Energía ⚫ 6

2020

Jun Jul Aug Winter season

Q3

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SLIDE 7

98.9% 98.6% 98.6% 4,138 3,461 4,000

  • 500
1, 000 1, 500 2, 000 2, 500 3, 000 3, 500 4, 000 4, 500

131 95 132 52% 68% 71%

40% 50% 60% 70% 80% 90% 100%
  • 20
40 60 80 100 120 140
  • Generation performance, in GWh

Availability performance, in % to installed capacity Adjusted EBITDA1, in US$ million Main news

Power generation kept contributing resiliency to our performance

Pampa Energía ⚫ 7

Q3 20 Q3 20 Q3 20

+1% yoy +39% qoq

  • 3% yoy

+16% qoq

✓ ✓ ✓      ✓ ✓ ✓

≅ yoy, qoq

✓

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SLIDE 8

Pampa Energía ⚫ 8

Ensenada Barragán Thermal Power Plant Key infrastructure project for Argentina’s electricity supply

Aerial view of CTEB, 2020

Works resumed with the strictest protocols in place

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SLIDE 9

2020

80 90 100 110 120 130 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec /2.8 /3.2 /3.5 /3.9 /4.2 /4.6 Evolution of domestic gas production, in mcm/bcf per day

Gas upstream is facing an unprecedented collapse

Pampa Energía ⚫ 9

Jun Jul Aug Peak season

Q3

May

 35%  29%  21%  27%

Sep

Additional required imports as % of total gas demand in Q3

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SLIDE 10

49.8 43.7 46.8

  • 5.
10. 15. 20. 25. 30. 35. 40. 45. 50.

52 6 36 42% 11% 43%

5% 25% 45% 65% 85% 105% 125% 145%
  • 10
20 30 40 50

42 20 23

9.1 5.1 5.5

4. 5 5. 5 6. 5 7. 5 8. 5 9. 5 10. 5 11. 5 12. 5
  • 5
10 15 20 25 30 35 40 45 50

Lifting cost, in US$ million Crude oil sales, in kbbl/d Adjusted EBITDA1, in US$ million Production performance, in kboe/d

Winter demand boosted our upstream performance…

Pampa Energía ⚫ 10

Q3 20

 ✓ ✓ ✓

  • 31% yoy

6x qoq

✓ ✓

  • 44% yoy

+16% qoq

  • 6% yoy

+7% qoq

Q3 20 Q3 20

4.8 4.1 4.2

  • 1.
2. 3. 4. 5. 6.

40.4

Q3 20

 ✓  ✓

  • 11% yoy

+4% qoq

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SLIDE 11

3.1 3.1 3.3 2.6 2.3 2.0

2.5

312 253 264

  • 50
100 150 200 250 300 350

Q3

Weighted avg gas price for Pampa, in US$/MBTU Destination of our sales, YTD as of September Gas sales, in mcf/d

  • Operational update

Main news

… but gas prices are the lowest in years, even for peak season

Pampa Energía ⚫ 11

Q3 20

  • 15% yoy

+4% qoq

 ✓   ✓

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SLIDE 12

Pampa Energía ⚫ 12

Q3 2020’s key takeaways Consolidated figures, in US$ million

78 Q3 19 Q3 20

Q3 20 Net income to shareholders

  • 33% yoy

20x qoq

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SLIDE 13

Key leverage figures, as of September 30, 20201, US$ million Pampa Restricted Group principal debt, net of repurchases

Sound balance sheet to weather a challenging environment and ready to seize any opportunity

Pampa Energía ⚫ 13

After Q3 2020:

  • AR$

14% US$ 86%

%

67 174 8 397 8 644 293

Local Bonds 6% Int'l Bonds 84% ECA 2% Banks 8%

%

Restricted Group Edenor Affiliates at ownership3 Consolidated with affiliates at ownership

Debt2 1,607 115 419 2,141 Cash 352 118 171 641 Net debt 1,255 (3) 248 1,500 LTM adj. EBITDA 452 75 242 768 Net leverage

2.8x na 1.0x

2.0x

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SLIDE 14

Q&A

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SLIDE 15

5,362 4,791 5,434 3.09 3.13 3.14 45 (14) 28 19% 9%

  • 1
0% 0% 10% 20% 30% 40% 50% (1 4) (4 ) 6 16 26 36 46
  • Sales Performance , in GWh

Main News

  • Adj. EBITDA, in US$ million

Number of End-Users, in million

Electricity Distribution

Pampa Energía ⚫ 15

Q3 20 Q3 20 Q3 20

✓ ✓  ✓

+1% yoy +0.3% qoq

  • US$17m yoy

+US$42m qoq

  ✓ ✓

+1% yoy +13% qoq

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SLIDE 16

75 52 90

  • 10
20 30 40 50 60 70 80 90 100

3 4 7 4% 10% 10%

0% 5% 10% 15% 20% 25% 30% 35% 40% 45% 50%
  • 1
2 3 4 5 6 7 8
  • Sales Performance, in thousand ton
  • Adj. EBITDA, in US$ million

Main News

Petrochemicals

Pampa Energía ⚫ 16

Q3 20 Q3 20

748 +21% yoy +73% qoq +4m yoy +3m qoq

✓ ✓  ✓ ✓ 

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SLIDE 17

30 79 90 1 (2) (2) 23 28 26 12 29 31

(2 ) 3 8 13 18 23 28 33 38
  • ▪

▪

  • ▪

Main News

  • Adj. EBITDA2, in US$ million

Affiliates’ EBITDA Performance @ 100% Ownership, in US$ million

Holding & Others

Pampa Energía ⚫ 17

Q3 20

Q3 20 Q3 20 Q3 20 ✓ ✓     ✓

+19% yoy +9% qoq

✓ ✓ ✓ ✓   