Reported Earnings • May 18
First quarter 2026 earnings released: EPS: AR$18.12 (vs AR$9.20 in 1Q 2025) First quarter 2026 results: EPS: AR$18.12 (up from AR$9.20 in 1Q 2025). Revenue: AR$121.3b (up 20% from 1Q 2025). Net income: AR$6.04b (up 97% from 1Q 2025). Profit margin: 5.0% (up from 3.0% in 1Q 2025). Over the last 3 years on average, earnings per share has increased by 47% per year but the company’s share price has increased by 74% per year, which means it is tracking significantly ahead of earnings growth. Announcement • May 12
Camuzzi Gas Pampeana S.A. announces Annual dividend, payable on May 18, 2026 Camuzzi Gas Pampeana S.A. announced Annual dividend of ARS 125.2096 per share payable on May 18, 2026, ex-date on May 12, 2026 and record date on May 12, 2026. New Risk • Mar 25
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 33% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.9x net interest cover). Dividend is not well covered by earnings and cash flows. Payout ratio: 0% Cash payout ratio: 206% Minor Risks Share price has been volatile over the past 3 months (7.5% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (3.5% net profit margin). New Risk • Mar 20
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 1.2x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.2x net interest cover). Dividend is not well covered by earnings and cash flows. Payout ratio: 0% Cash payout ratio: 206% Minor Risks Share price has been volatile over the past 3 months (7.4% average weekly change). Profit margins are more than 30% lower than last year (3.5% net profit margin). Announcement • Mar 19
Camuzzi Gas Pampeana S.A., Annual General Meeting, Apr 16, 2026 Camuzzi Gas Pampeana S.A., Annual General Meeting, Apr 16, 2026. Location: av alicia moreau de justo 240, 3rd floor, buenos aires Argentina Valuation Update With 7 Day Price Move • Mar 09
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to AR$2,400, the stock trades at a trailing P/E ratio of 32.3x. Average trailing P/E is 8x in the Gas Utilities industry in Argentina. Total returns to shareholders of 1,110% over the past three years. Buy Or Sell Opportunity • Mar 04
Now 24% overvalued Over the last 90 days, the stock has fallen 37% to AR$2,045. The fair value is estimated to be AR$1,654, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 42% over the last 3 years. Earnings per share has grown by 90%. New Risk • Dec 11
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 167% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (15% average weekly change). Dividend is not well covered by earnings and cash flows. Payout ratio: 0% Cash payout ratio: 231% Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (4.3% net profit margin). Valuation Update With 7 Day Price Move • Nov 28
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to AR$2,975, the stock trades at a trailing P/E ratio of 15.1x. Average trailing P/E is 10x in the Gas Utilities industry in Argentina. Total returns to shareholders of 2,088% over the past three years. Reported Earnings • Nov 18
Third quarter 2025 earnings released: EPS: AR$68.35 (vs AR$377 in 3Q 2024) Third quarter 2025 results: EPS: AR$68.35 (down from AR$377 in 3Q 2024). Revenue: AR$259.7b (up 24% from 3Q 2024). Net income: AR$22.8b (down 82% from 3Q 2024). Profit margin: 8.8% (down from 60% in 3Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 96% per year but the company’s share price has increased by 180% per year, which means it is tracking significantly ahead of earnings growth. New Risk • Nov 18
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 10.0% Last year net profit margin: 25% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (15% average weekly change). Minor Risks Dividend is not well covered by cash flows (189% cash payout ratio). Profit margins are more than 30% lower than last year (10.0% net profit margin). Valuation Update With 7 Day Price Move • Oct 27
Investor sentiment improves as stock rises 24% After last week's 24% share price gain to AR$1,900, the stock trades at a trailing P/E ratio of 3.8x. Average trailing P/E is 7x in the Gas Utilities industry in Argentina. Total returns to shareholders of 2,073% over the past three years. Valuation Update With 7 Day Price Move • Oct 13
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to AR$1,675, the stock trades at a trailing P/E ratio of 3.3x. Average trailing P/E is 7x in the Gas Utilities industry in Argentina. Total returns to shareholders of 1,797% over the past three years. Valuation Update With 7 Day Price Move • Sep 18
Investor sentiment deteriorates as stock falls 21% After last week's 21% share price decline to AR$1,370, the stock trades at a trailing P/E ratio of 2.7x. Average trailing P/E is 5x in the Gas Utilities industry in Argentina. Total returns to shareholders of 1,422% over the past three years. Reported Earnings • Aug 16
Second quarter 2025 earnings released: EPS: AR$6.13 (vs AR$84.96 in 2Q 2024) Second quarter 2025 results: EPS: AR$6.13 (down from AR$84.96 in 2Q 2024). Revenue: AR$197.9b (down 6.7% from 2Q 2024). Net income: AR$2.04b (down 93% from 2Q 2024). Profit margin: 1.0% (down from 13% in 2Q 2024). Over the last 3 years on average, earnings per share has increased by 114% per year but the company’s share price has increased by 170% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Aug 13
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to AR$2,165, the stock trades at a trailing P/E ratio of 3.7x. Average trailing P/E is 8x in the Gas Utilities industry in Argentina. Total returns to shareholders of 2,603% over the past three years. Buy Or Sell Opportunity • Aug 07
Now 23% undervalued Over the last 90 days, the stock has risen 7.2% to AR$2,445. The fair value is estimated to be AR$3,161, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 56% over the last 3 years. Meanwhile, the company has become profitable. Valuation Update With 7 Day Price Move • Jul 29
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to AR$2,490, the stock trades at a trailing P/E ratio of 4.3x. Average trailing P/E is 8x in the Gas Utilities industry in Argentina. Total returns to shareholders of 3,992% over the past three years. Buy Or Sell Opportunity • Jun 17
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 14% to AR$2,305. The fair value is estimated to be AR$2,902, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 56% over the last 3 years. Meanwhile, the company has become profitable. Reported Earnings • May 15
First quarter 2025 earnings released First quarter 2025 results: Revenue: AR$95.6b (up 469% from 1Q 2024). Net income: AR$2.89b (up AR$12.3b from 1Q 2024). Profit margin: 3.0% (up from net loss in 1Q 2024). Over the last 3 years on average, earnings per share has increased by 136% per year but the company’s share price has increased by 283% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • May 12
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to AR$2,520, the stock trades at a trailing P/E ratio of 4.7x. Average trailing P/E is 7x in the Gas Utilities industry in Argentina. Total returns to shareholders of 5,195% over the past three years. Valuation Update With 7 Day Price Move • Apr 04
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to AR$2,190, the stock trades at a trailing P/E ratio of 4.1x. Average trailing P/E is 12x in the Gas Utilities industry in Argentina. Total returns to shareholders of 4,143% over the past three years. Reported Earnings • Mar 13
Full year 2024 earnings released: EPS: AR$535 (vs AR$7.42 loss in FY 2023) Full year 2024 results: EPS: AR$535 (up from AR$7.42 loss in FY 2023). Revenue: AR$524.3b (up 211% from FY 2023). Net income: AR$178.2b (up AR$180.7b from FY 2023). Profit margin: 34% (up from net loss in FY 2023). Over the last 3 years on average, earnings per share has increased by 131% per year but the company’s share price has increased by 245% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Mar 13
Camuzzi Gas Pampeana S.A., Annual General Meeting, Apr 16, 2025 Camuzzi Gas Pampeana S.A., Annual General Meeting, Apr 16, 2025. Location: av alicia moreau de justo 240, 3rd floor, buenos aires Argentina Valuation Update With 7 Day Price Move • Feb 11
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to AR$2,680, the stock trades at a trailing P/E ratio of 6.9x. Average trailing P/E is 17x in the Gas Utilities industry in Argentina. Total returns to shareholders of 5,017% over the past three years. Valuation Update With 7 Day Price Move • Dec 26
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to AR$3,945, the stock trades at a trailing P/E ratio of 10.1x. Average trailing P/E is 20x in the Gas Utilities industry in Argentina. Total returns to shareholders of 8,706% over the past three years. Valuation Update With 7 Day Price Move • Dec 03
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to AR$3,490, the stock trades at a trailing P/E ratio of 8.9x. Average trailing P/E is 18x in the Gas Utilities industry in Argentina. Total returns to shareholders of 8,121% over the past three years. Reported Earnings • Nov 17
Third quarter 2024 earnings released: EPS: AR$377 (vs AR$2.59 loss in 3Q 2023) Third quarter 2024 results: EPS: AR$377 (up from AR$2.59 loss in 3Q 2023). Revenue: AR$208.7b (up 219% from 3Q 2023). Net income: AR$125.7b (up AR$126.5b from 3Q 2023). Profit margin: 60% (up from net loss in 3Q 2023). Over the last 3 years on average, earnings per share has increased by 126% per year but the company’s share price has increased by 310% per year, which means it is tracking significantly ahead of earnings growth. New Risk • Nov 15
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Argentinean stocks, typically moving 6.4% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (20% accrual ratio). Minor Risk Share price has been volatile over the past 3 months (6.4% average weekly change). Valuation Update With 7 Day Price Move • Nov 07
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to AR$2,305, the stock trades at a trailing P/E ratio of 68.4x. Average trailing P/E is 31x in the Gas Utilities industry in Argentina. Total returns to shareholders of 5,388% over the past three years. Reported Earnings • Aug 18
Second quarter 2024 earnings released: EPS: AR$60.94 (vs AR$5.99 in 2Q 2023) Second quarter 2024 results: EPS: AR$60.94 (up from AR$5.99 in 2Q 2023). Revenue: AR$152.1b (up 451% from 2Q 2023). Net income: AR$20.3b (up AR$18.3b from 2Q 2023). Profit margin: 13% (up from 7.2% in 2Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 40% per year but the company’s share price has increased by 329% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • May 15
First quarter 2024 earnings released: AR$23.76 loss per share (vs AR$1.12 loss in 1Q 2023) First quarter 2024 results: AR$23.76 loss per share (further deteriorated from AR$1.12 loss in 1Q 2023). Revenue: AR$14.2b (down 24% from 1Q 2023). Net loss: AR$7.92b (loss widened AR$7.55b from 1Q 2023). Over the last 3 years on average, earnings per share has increased by 35% per year but the company’s share price has increased by 376% per year, which means it is tracking significantly ahead of earnings growth. New Risk • Nov 22
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Argentinean stocks, typically moving 13% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. This is currently the only risk that has been identified for the company. Valuation Update With 7 Day Price Move • Aug 17
Investor sentiment improves as stock rises 23% After last week's 23% share price gain to AR$485, the stock trades at a trailing P/E ratio of 39.5x. Average trailing P/E is 16x in the Gas Utilities industry in South America. Total returns to shareholders of 2,145% over the past three years. Valuation Update With 7 Day Price Move • Jun 08
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to AR$441, the stock trades at a trailing P/E ratio of 35.9x. Average trailing P/E is 13x in the Gas Utilities industry in South America. Total returns to shareholders of 1,930% over the past three years. Valuation Update With 7 Day Price Move • May 10
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to AR$371, the stock trades at a trailing P/E ratio of 30.2x. Average trailing P/E is 9x in the Gas Utilities industry in South America. Total returns to shareholders of 1,748% over the past three years. Valuation Update With 7 Day Price Move • Mar 06
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to AR$252, the stock trades at a trailing P/E ratio of 23x. Average trailing P/E is 11x in the Gas Utilities industry in South America. Total returns to shareholders of 1,300% over the past three years. Valuation Update With 7 Day Price Move • Jan 25
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to AR$291, the stock trades at a trailing P/E ratio of 26.5x. Average trailing P/E is 11x in the Gas Utilities industry in South America. Total returns to shareholders of 1,220% over the past three years. Valuation Update With 7 Day Price Move • Dec 24
Investor sentiment improved over the past week After last week's 15% share price gain to AR$190, the stock trades at a trailing P/E ratio of 17.3x. Average trailing P/E is 10x in the Gas Utilities industry in South America. Total returns to shareholders of 715% over the past three years. Valuation Update With 7 Day Price Move • Nov 29
Investor sentiment improved over the past week After last week's 28% share price gain to AR$152, the stock trades at a trailing P/E ratio of 12.2x. Average trailing P/E is 10x in the Gas Utilities industry in South America. Total returns to shareholders of 677% over the past three years. Board Change • Nov 16
No independent directors There is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 11 experienced directors. No highly experienced directors. No independent directors (10 non-independent directors). Second Vice Chairman Mariano Frias was the last director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Valuation Update With 7 Day Price Move • Aug 29
Investor sentiment improved over the past week After last week's 18% share price gain to AR$131, the stock trades at a trailing P/E ratio of 11.5x. Average trailing P/E is 8x in the Gas Utilities industry in South America. Total returns to shareholders of 757% over the past three years. Board Change • Apr 27
No independent directors There is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 11 experienced directors. No highly experienced directors. No independent directors (10 non-independent directors). Second Vice Chairman Mariano Frias was the last director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Is New 90 Day High Low • Mar 10
New 90-day low: AR$18.00 The company is down 16% from its price of AR$21.45 on 09 December 2020. The Argentinean market is down 18% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Gas Utilities industry, which is flat over the same period. Is New 90 Day High Low • Jan 26
New 90-day low: AR$18.20 The company is down 8.0% from its price of AR$19.80 on 27 October 2020. The Argentinean market is flat over the last 90 days, indicating the company underperformed over that time. It also underperformed the Gas Utilities industry, which is up 4.0% over the same period. Is New 90 Day High Low • Dec 02
New 90-day high: AR$22.00 The company is up 12% from its price of AR$19.60 on 03 September 2020. The Argentinean market is up 23% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Gas Utilities industry, which is up 4.0% over the same period. Reported Earnings • Nov 15
Third quarter 2020 earnings released: EPS AR$2.67 The company reported a decent third quarter result with improved earnings and profit margins, although revenues were weaker. Third quarter 2020 results: Revenue: AR$11.4b (down 30% from 3Q 2019). Net income: AR$890.0m (up AR$951.0m from 3Q 2019). Profit margin: 7.8% (up from net loss in 3Q 2019). The move to profitability was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 60% per year but the company’s share price has only fallen by 31% per year, which means it has not declined as severely as earnings. Is New 90 Day High Low • Sep 18
New 90-day low: AR$17.40 The company is down 13% from its price of AR$20.10 on 19 June 2020. The Argentinean market is up 1.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Gas Utilities industry, which is down 2.0% over the same period.