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FINANCIAL ASSETS AND LIABILITIES (Tables)
 12 Months Ended
Dec. 31, 2023
Financial Assets And Liabilities  
Schedule of financial assets at amortized cost
       
    12.31.2023   12.31.2022
Non-current        
Term deposit   -   101
Notes receivable   -   1
Total non-current   -   102
Current        
Term deposit   101   -
Notes receivable   4   8
Total current   105   8
Schedule of financial assets at fair value through profit and loss
       
    12.31.2023   12.31.2022
Non-current        
Shares   35   27
Total non-current   35   27
         
Current        
Government securities    389   279
Corporate bonds   79   116
Shares   88   160
Mutual funds   3   31
Total current   559   586
Schedule of trade and other receivables
           
Note   12.31.2023   12.31.2022
Non-Current          
Related parties 16   11   17
Tax credits     1   2
Receivables for sale of associates     1   -
Contractual indemnity receivable     4   -
Other     1   1
Other receivables     18   20
Total non-current     18   20

 

  Note   12.31.2023   12.31.2022
Current          
Receivables     105   141
CAMMESA     100   165
Related parties 16   5   5
Impairment of financial assets     (1)   (6)
Trade receivables, net     209   305
           
Current          
Related parties 16   7   7
Tax credits     10   14
Receivables for complementary activities     1   -
Prepaid expenses     5   14
Guarantee deposits     19   27
Expenses to be recovered     6   15
Insurance to be recovered     4   -
Receivables for acquisition of subsidiary     -   7
Receivables for sale of associates     1   4
Receivables for financial instruments sale     -   1
GasAr Plan     11   32
Receivables for arbitration award     -   37
Contractual indemnity credit     2   -
Advances to employees     10   -
Other     11   7
Other receivables, net     87   165
           
Total current     296   470
Schedule of allowance for the impairment of trade receivables
             
    12.31.2023   12.31.2022   12.31.2021
At the beginning of the year     6   9   16
Impairment     1   1   1
Utilization     -   (1)   -
Reversal of unused amounts     (1)   -   (6)
Foreign currency exchange difference     (5)   (3)   (2)
At the end of the year     1   6   9
Schedule of cash and cash equivalents
       
    12.31.2023   12.31.2022
Banks   31   11
Mutual funds   140   95
Total   171   106
Schedule of borrowings
         
      12.31.2023   12.31.2022
Non-Current          
Financial borrowings     -   108
Corporate bonds     1,224   1,232
Total non-current     1,224   1,340
           
Current          
Bank overdrafts     31   59
Financial borrowings     67   51
Corporate bonds     126   163
Total current     224   273
Total     1,448   1,613
Schedule of changes in borrowings
             
    12.31.2023   12.31.2022   12.31.2021
At the beginning of the year   1,613   1,438   1,614
Proceeds from borrowings   424   308   188
Payment of borrowings   (191)   (143)   (336)
Accrued interest   304   172   137
Payment of interests   (280)   (162)   (140)
Repurchase of CB   (6)   (28)   (3)
Result from exchange of CB   -   14   -
Result from repurchase of CB   (1)   (6)   -
Increases for incorporation   -   89   -
Foreign currency exchange difference   (356)   (80)   (22)
Decrease for subsidiaries sales   (80)   -   -
Borrowing costs capitalized in property, plant and equipment   21   11   -
At the end of the year   1,448   1,613   1,438
Schedule of borrowings composition
                             
Type of instrument   Company   Currency   Residual value     Interest   Rate   Expiration   Book value as of 12.31.2023
               
                               
Corporate bonds (1)                              
Class 17 CB   PAMPA   $   5,980     Fixed   Badlar + 2%   May-24   9
Class 15 CB   PAMPA   $   18,264     Variable   Badlar + 0%   Jul-24   29
Class 18 CB   PAMPA   US$   72     Fixed   5.00%   Sep-25   73
Class 16 CB   PAMPA   US$   56     Fixed   4.99%   Nov-25   56
Class 9 CB   PAMPA   US$   179     Fixed   9.50%   Dec-26   184
Class 1 CB   PAMPA   US$   597     Fixed   7.50%   Jan-27   611
Class 13 CB   PAMPA   US$   98     Fixed   0.00%   Dec-27   96
Class 3 CB   PAMPA   US$   293     Fixed   9.13%   Apr-29   292
                              1,350
Financial loans (2)(3)                              
    PAMPA   US$   8     Variable   SOFR 6M + 4,21%   Nov-24   8
    PAMPA   $   3,000     Variable   Between 80% and 110%   Between Apr-24 and Jun-24   5
                              13
Other financial loans (4)                              
    PAMPA   US$   22     Variable   SOFR + 0,35%   Jul-24   23
    PAMPA   US$   12     Variable   SOFR + 0%   Agu-24   12
    PAMPA   US$   14     Fixed   Between 13% and 16%   Between Jan-24 and Jun-24   14
    PAMPA   CNY   37     Fixed   Between 12% and 12.50%   Between Mar-24 and Nov-24   5
                              54
Bank overdrafts (2)                              
    PAMPA   $   23,140     Fixed   Between79.00% and 81,00%   Between Jan-24 and Apr-24   31
                              31
                              1,448

 

(1)Net of repurchases for a face value of US$ 113.7 million for 2026 CB, US$ 153.0 million of 2027 CB, and US$ 7.5 million for 2029 CB.

 

(2)During the fiscal year ended December 31, 2023, the Company took out short-term bank loans with local financial institutions, net of cancellations, for $ 16,535 million and import financing for CNY 37 million. Additionally, it took out import financing, net, for US$ 6.2 million. Post-closing, the Company took out net import financing for US$1 million and cancelled net bank debt for $100 million.

 

(3)Regarding the FINNVERA credit facility and due to the discontinuation of the Libor benchmark interest rate as from July 2023, on September 5, 2023, Pampa and CACIB (Credit Agricole Corporate & Investment Bank) entered into an amendment to the credit facility replacing the Libor rate with the Term SOFR rate for debt services after November 2023. In this same line, the interest rate hedge agreement associated with the credit facility was also amended.

 

(4)During the fiscal year ended December 31, 2023, the Company received disbursements in the amount of US$ 2.0 million under the credit facilities taken out with BNP Paribas S.A. in 2020.

 

 

Type of instrument   Company   Currency   Residual value     Interest   Rate   Expiration   Book value as of 12.31.2022
               
                               
Corporate bonds (1)                              
T Series CB   PAMPA   US$   93     Fixed   7.38%   Jul-23   95
Class 8 CB   PAMPA   $   3,107     Variable   Badlar + 2%   Jul-23   20
Class 11 CB   PAMPA   $   21,655     Variable   Badlar + 0%   Jan-24   140
Class 9 CB   PAMPA   US$   102     Fixed   9.50%   Dec-26   184
Class 1 CB   PAMPA   US$   501     Fixed   7.50%   Jan-27   616
Class 13 CB   PAMPA   US$   49     Fixed   0.00%   Dec-27   48
Class 3 CB   PAMPA   US$   285     Fixed   9.13%   Apr-29   292
                              1,395
Financial loans (2)                              
    PAMPA   US$   15     Variable   Libor + 4.21%   Nov-24   16
    GW   US$   83     Variable   Libor + 5.75%   Sep-26   85
                              101
Other financial loans (3)                              
    PAMPA   US$   22     Variable   SOFR + 0.35%   Jul-23   23
    PAMPA   US$   8     Fixed   Between 9.50% and 14.50%   Between Jan-23 and May-23   8
    PAMPA   US$   27     Variable   SOFR + 0%   Agu-24   27
                              58
                               
Bank overdrafts (3)   PAMPA   $   10,065     Fixed   Between 54% and 54.50%   Jan-23   59
                              59
                              1,613

 

(1)Net of the following face value repurchases: US$ 113.7 million of ON 2026, US$ 146.2 million of ON 2027 and US$ 7.5 million of ON 2029.

 

(2)During the the fiscal year ended December 31, 2022, the Company took on new short-term financing with domestic financial entities, net of cancellations, for a total $ 8,618 million and import prefinancing for US$ 7.6 million. Additionally, the Company repaid at maturity two principal installments for the credit facility sponsored by FINNVERA in the amount of US$ 7.7 million and US$ 10.4 million corresponding to the credit facility subscribed between IDB Invest and Greenwind, a Company that is consolidated since acquisition of an additional 50% interest in August 2022.

 

(3)During the fiscal year ended December 31, 2022, the Company received disbursements in the amount of US$ 1.3 million under the credit facilities taken out with BNP Paribas S.A. in 2020. After the fiscal year closing, the Company repaid short-term bank loans with local financial entities for $ 10,065 million and import prefinancing for US$ 0.7 million.
Schedule of trade and other payables
         
  Note   12.31.2023   12.31.2022
Non-Current          
Compensation agreements      28   10
Finance leases liability     14   10
Contractual penalty debt     4   -
Other     -   1
Other payables     46   21
Total non-current     46   21
         
Current          
Suppliers     186   198
Customer advances     9   3
Related parties 16   15   14
Trade payables     210   215
           
Compensation agreements      11   12
Liability for acquisition of companies     8   46
Finance leases liability     4   2
Investment plan readjustment liability     -   5
Contractual penalty debt     2   -
Debtors     3   -
Other     -   1
Other payables     28   66
Total current     238   281
Schedule of financial instruments
                   
As of December 31, 2023   Financial assets/liabilities at amortized cost   Financial assets/liabilities at fair value through profit and loss   Subtotal financial assets/liabilities   Non financial assets/liabilities   Total
Assets                    
Trade receivables and other receivables   279   7   286   28   314
Financial assets at amortized cost                    
Term deposit   101   -   101   -   101
Notes receivable   4   -   4   -   4
Financial assets at fair value through profit and loss                  
Government securities    -   389   389   -   389
Corporate bonds   -   79   79   -   79
Shares   -   123   123   -   123
Mutual funds   -   3   3   -   3
Cash and cash equivalents   31   140   171   -   171
Total   415   741   1,156   28   1,184
                     
Liabilities                    
Trade and other liabilities   275   -   275   9   284
Borrowings   1,448   -   1,448   -   1,448
Total   1,723   -   1,723   9   1,732
                     
                     
As of December 31, 2022   Financial assets/liabilities at amortized cost   Financial assets/liabilities at fair value through profit and loss   Subtotal financial assets/liabilities   Non financial assets/liabilities   Total
Assets                    
Trade receivables and other receivables   437   22   459   31   490
Financial assets at amortized cost                    
Term deposit   101   -   101   -   101
Notes receivable   9   -   9   -   9
Financial assets at fair value through profit and loss                
Government securities    -   279   279   -   279
Corporate bonds   -   116   116   -   116
Shares   -   187   187   -   187
Mutual funds   -   31   31   -   31
Cash and cash equivalents   11   95   106   -   106
Total   558   730   1,288   31   1,319
                     
Liabilities                    
Trade and other liabilities   298   -   298   4   302
Borrowings   1,613   -   1,613   -   1,613
Derivative financial instruments   -   2   2   -   2
Total   1,911   2   1,913   4   1,917
Schedule of income, expenses, gains and losses from financial instruments
                   
As of December 31, 2023   Financial assets/liabilities at amortized cost   Financial assets/liabilities at fair value through profit and loss   Subtotal financial assets/liabilities    Non Financial assets/ liabilities    Total
Interest income   5   -   5   -   5
Interest expenses   (307)   -   (307)   (49)   (356)
Foreign currency exchange difference, net   (1,035)   (560)   (1,595)   1,718   123
Changes in the fair value of financial instruments   -   444   444   -   444
Result from present value measurement   (1)   -   (1)   (9)   (10)
Other financial results   (7)   -   (7)   -   (7)
Total   (1,345)   (116)   (1,461)   1,660   199
                     
                     
As of December 31, 2022   Financial assets/liabilities at amortized cost   Financial assets/liabilities at fair value through profit and loss   Subtotal financial assets/liabilities    Non Financial assets/ liabilities    Total
Interest income   5   -   5   -   5
Interest expenses   (175)   -   (175)   (41)   (216)
Foreign currency exchange difference, net   16   (85)   (69)   149   80
Changes in the fair value of financial instruments   -   110   110   -   110
Result from present value measurement   (1)   -   (1)   (13)   (14)
Other financial results   (15)   -   (15)   -   (15)
Total   (170)   25   (145)   95   (50)
                     
                     
                     
                     
As of December 31, 2021   Financial assets/liabilities at amortized cost   Financial assets/liabilities at fair value through profit and loss   Subtotal financial assets/liabilities    Non Financial assets/ liabilities    Total
Interest income   10   -   10   -   10
Interest expenses   (138)   -   (138)   (40)   (178)
Foreign currency exchange difference, net   (11)   (19)   (30)   33   3
Changes in the fair value of financial instruments   -   (15)   (15)   -   (15)
Result from present value measurement   2   -   2   (3)   (1)
Other financial results   (4)   -   (4)   (4)   (8)
Total   (141)   (34)   (175)   (14)   (189)
Schedule of fair value of financial instruments
               
As of December 31, 2023   Level 1   Level 2   Level 3   Total
Assets                
Financial assets at fair value through
profit and losss		                
Government securities   389   -   -   389
Corporate bonds   79   -   -   79
Mutual funds   3   -   -   3
Shares   88   -   35   123
Cash and cash equivalents                
Mutual funds   140   -   -   140
Other receivables                
Guarantee deposits on derivative financial instruments   7   -   -   7
Total assets   706   -   35   741
                 
                 
As of December 31, 2022   Level 1   Level 2   Level 3   Total
Assets                
Financial assets at fair value through
profit and losss		                
Government securities   279   -   -   279
Corporate bonds   116   -   -   116
Mutual funds   31   -   -   31
Shares   160   -   27   187
Cash and cash equivalents       -   -    
Mutual funds   95   -   -   95
Other receivables   22   -   -   22
Total assets   703   -   27   730
                 
Liabilities                
Derivative financial instruments   -   2   -   2
Total liabilities   -   2   -   2