PAMPA ENERGIA: Revenue Rises, But Financial Costs Limit Gains In The 2Q17

(RTTNews) - Argentina's Pampa Energía reported a 51 million pesos (US$ 2.876 million) net income for the second quarter, from 1.099 billion pesos (US$ 61.99 million) loss in the same period of 2016.

The company showed an almost fourfold increase in revenue, to 15.635 billion pesos, and an operating income of 2.066 billion pesos - from a 749 million pesos operating loss in the second quarter of 2016.

However, even with that improvement in results, Pampa Energía still had a loss before taxes of 184 million pesos, as financial expenses almost tripled in the second quarter of this year, to 2.250 billion pesos, and weighed on the results.

Pampa's adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) for the quarter reached 3,858 million pesos, from 186 million pesos in 2Q16.

In the quarter, gross margin for power generation was 865 million pesos, 117.9% higher than in the same period of 2016.