Pampa Energia (PAM) has released an update.
Pampa Energía reports a 7% year-on-year decrease in Q1 2024 sales due to lower energy prices and exports, despite a climb in domestic gas sales. The company’s net profit soared by 89%, reaching US$267 million, driven by inflation-related tax credits and affiliate earnings, while net debt rose to US$718 million with a leverage ratio of 1.1x. Significant delays in payments from CAMMESA have impacted cash flow, but new natural gas export permits and tariff increases may influence future performance.
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