PAM Pampa Energia SA

BUENOS AIRES, Argentina, Nov. 19, 2012 /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 nine-month period ended on September 30th, 2012. All figures are stated in Argentine Pesos and have been prepared in accordance with International Financial Reporting Standards.

Highlights for the nine-month period of 2012

Consolidated net sales of AR$5,758.7 million(1), 30.9% greater than the AR$4,400.2 million for the same period of 2011, mainly due to increases of 30.9% (AR$683.8 million) in generation, 29.0% (AR$630.4 million) in distribution, and AR$107.7 million in holding and others.

Adjusted Consolidated EBITDA(2) of AR$405.9 million, 45.0% lower than for the same period of 2011, mainly due to decreases of 56.5% (AR$39.7 million) in transmission and of 90.9% (AR$447.8 million) in distribution, which were partially offset by increases of 64.3% (AR$119.4 million) in generation and a higher gain in holding and others (AR$36.4 million).

Consolidated loss under IFRS of AR$646.4 million, of which AR$381.4 are attributable to the owners of the Company, compared to the gain of AR$44.5 million attributable to the owners of the Company for the same period of 2011, mainly due to higher losses in our transmission segment (AR$10.2 million), distribution (AR$495.5 million), partially offset by minor losses in our generation segment (AR$29.6 million) and higher gains in holding and others segment (AR$50.1 million).

Highlights for the third quarter of 2012(3)

Consolidated net sales of AR$2,102.1 million, 27.8% greater than the AR$1,644.9 million for the same period of 2011, mainly due to increases of 33.3% (AR$282.3 million) in generation, 19.8% (AR$157.1 million) in distribution, and AR$35.5 million in holding and others.

Adjusted Consolidated EBITDA of AR$36.2 million, 86.1% lower than for the same period of 2011, mainly due to decreases of 66.1% (AR$18.0 million) in transmission and of AR$249.1 million in distribution, which were partially offset by increases of 47.8% (AR$25.8 million) in generation and a higher gain in holding and others (AR$17.4 million).

Consolidated net loss under IFRS of AR$346.5 million, of which AR$233.6 are attributable to the owners of the Company, in comparison to a net loss of AR$87.8 million attributable to the owners of the Company for the same period of 2011, mainly due to losses in our generation segment (AR$87.3 million), transmission (AR$8.1 million), distribution (AR$178.5 million), partially offset by a net profit in our holding and others (AR$40.2 million).

(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 earnings before financial results, net, income taxes, depreciation, amortization, reserve directors options, other income and expenses, net, and minority interest, including PUREE proceeds and other collections, impairments 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 September 30, 2012 and of 2011 are based on unaudited financial statements prepared according to the IFRS accounting standards in force in Argentina corresponding to the nine-month periods ended on September 30, 2012 and of 2011, and the six-month periods ended on June 30, 2012 and of 2011.

Consolidated Balance Sheet

(As of September 30, 2012 and December 31, 2011, in millions of Argentine Pesos)

Consolidated Income Statement

(For the nine and three-month period ended on September 30, 2012, and September 30, 2011, 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 third quarter 2012 results on Wednesday, November 21, 2012 at 10:00 a.m. New York Time / 12:00 p.m. Buenos Aires Time. Mr. Ricardo Torres, Chief Executive Officer of Pampa and Chairman of Edenor, will be presenting for Pampa Energia S.A. For those interested in participating, please dial 0800-444-2930 in Argentina, (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.

Besides the access to the audio file in the website, a replay of the Conference Call through telephone is available, dialing (877) 344-7529 in the United States or +1 (412) 317-0088 from any other country. The conference's identification code is 10020022. This material will be available one hour after the finalization of the Conference Call and until November 29, 2012.

For further information, contact:

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

SOURCE Pampa Energia S.A.