Pampa Energía Q1 Sales Up 38% to US$573M; EBITDA Soars 48%
PAM•Pampa Energía's sales reached US$573 million in Q1, 38% higher year-over-year, driven by 502% surge in oil output to 19.5 kbpd and 17% rise in gas production to 81.2 kboepd. Adjusted EBITDA rose 48% to US$325 million, net income jumped 40% to US$214 million and net debt reached US$1.2 billion.
1. Sales and Production Gains
Pampa Energía reported Q1 sales of US$573 million, a 38% increase from the prior year. The rise was underpinned by a 502% boost in crude oil output to 19.5 kbpd at Rincón de Aranda and a 17% jump in gas production to 81.2 kboepd under the new wholesale electricity framework.
2. Profitability and Margins
Adjusted EBITDA climbed 48% to US$325 million, driven by stronger shale oil contributions and higher spot power margins. Net income attributable to shareholders surged 40% to US$214 million, boosted by operational improvements and a non-cash deferred tax credit linked to inflation effects, partially offset by lower realized oil prices.
3. Debt Increase and Capex Impact
Net debt rose to US$1.2 billion as of March 31, reflecting increased capital expenditures on upstream and power assets and higher collateral requirements from oil hedges. The company maintains investment in vertical integration between production and power generation to support future growth.
