Pampa Energia S.A. (NYSE:PAM) Q3 2024 Earnings Conference Call November 7, 2024 10:00 AM ET

Company Participants

Raquel Cardasz - Investor Relations
Lida Wang - Investor Relations and Sustainability Officer
Gustavo Mariani - Executive Vice president and Chief Executive Officer
Nicolas Mindlin - Chief Financial Officer
Horacio Jorge Tomas Turri - Head of E&P

Conference Call Participants

Bruno Montanari - Morgan Stanley
Alejandro Demichelis - Jefferies
Marina Mertens - Latine Securities
Daniel Guardiola - BTG
Ignacio Sniechowski - IEB
Gustavo Faria - Bank of America
Matías Cattaruzzi - AdCap

Raquel Cardasz

Good morning everyone and thank you for waiting. I'm Raquel Cardasz from IR and we would like to welcome everyone to Pampa Energia's Third Quarter 2024. We would like to inform you that this event is being recorded. All participants will be in listen-only mode during the presentation. After the company's remarks, there will be a Q&A session.

Questions can only be submitted in writing through Zoom. Should any participants need assistance, please send us a chat message. Before proceeding, please read the disclaimer on the second 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 and could cause results to differ materially from those expressed in such forward-looking statements.

Now I'll turn the video conference over to Lida. Please go ahead.

Lida Wang

Hello. Thank you, Raquel. Hello, everyone, and thank you for joining our conference call. I will make a quick summary of Q3. You might find more details in our earnings release and financial statements. Today, we are having our Q&A with our CEO, Gustavo Mariani, our CFO, Mr. Nicolas Mindlin, and Horacio Turri, our Head of E&P.

Let's start with the quarter's figures marked by the solid outperformance from gas upstream and power generation, which helped to overcome the winter peak. This is the year's most critical period. Gas production increased 8% year-on-year with a growing contribution from Shell. Our CCGTs achieved high load factors supported by strong gas and capacity availability. Our balance sheet remains solid with extended maturities and improved liquidity, bringing net debt to its lowest level since 2016 when we acquired Petrobras Argentina.