YPF Announces 2Q24 Results and Webcast

TL;DR

YPF dropped its 2Q24 earnings report today, check the webcast for details.

AI Summary

YPF Sociedad Anónima announced its 2Q24 results on August 9, 2024, with a webcast scheduled for 9:00 am ET. The financial statements are prepared according to IFRS in Argentina, and the company will report in both US$ and AR$ starting from 1Q24 for better understanding. The functional currency of the company is the US$.

Why It Matters

This filing provides investors with the latest financial performance data for YPF, a key energy company, allowing them to assess its current standing and future prospects.

Risk Assessment

Risk Level: low — This is a routine earnings announcement and does not contain significant new risks.

Key Players & Entities

• YPF Sociedad Anónima (company) — Registrant
• YPF (company) — Company Name
• August 9, 2024 (date) — Results Announcement Date
• 9:00 am ET (time) — Webcast Time
• 10:00 am BAT (time) — Webcast Time
• August 8, 2024 (date) — Date of Announcement
• US$ (currency) — Functional Currency
• AR$ (currency) — Reporting Currency
• 2Q24 (period) — Financial Reporting Period
• 1Q24 (period) — Financial Reporting Period

FAQ

Key Financial Figures

• $1.2 billion — o products. Adjusted EBITDA totaled US$1.2 billion (-3% vs. 1Q24), on the back of increasi
• $257 m — . Free cash flow totaled a negative US$257 million, compared to a negative US$394 mi
• $394 million — S$257 million, compared to a negative US$394 million in 1Q24. Both periods were affected by
• $7.5 billion — debt was steady, net debt amounted to US$7.5 billion (vs. US$7.2 billion in 1Q24), while mai
• $7.2 billion — debt amounted to US$7.5 billion (vs. US$7.2 billion in 1Q24), while maintaining net leverag
• $4,935 million — 5 7.3 % Net Revenues amounted to US$4,935 million (+15% q/q), mainly driven by higher sea
• $36 — variations include price effects by (US$36) million in 2Q23, (US$169) million for
• $169 — effects by (US$36) million in 2Q23, (US$169) million for 1Q24, US$12 million for 2Q
• $12 million — n in 2Q23, (US$169) million for 1Q24, US$12 million for 2Q24, (US$65) million in 1H23 and (
• $65 — on for 1Q24, US$12 million for 2Q24, (US$65) million in 1H23 and (US$157) million i
• $157 — or 2Q24, (US$65) million in 1H23 and (US$157) million in 1H24. OPEX totaled US$1,8
• $1,842 million — $157) million in 1H24. OPEX totaled US$1,842 million (+33% q/q), mostly explained by higher
• $383 million — f our refineries. Other costs totaled US$383 million (+41% q/q), primarily due to higher tax
• $1,188 million — ases and Stock Variations amounted to US$1,188 million (+9% q/q), mainly due to higher seasona
• $3 million — tock variation was negative in 2Q24 (-US$3 million), but not as pronounced as 1Q24 (-US$12

Filing Documents

• d884730d6k.htm (6-K) — 726KB
• g884730g01s05.jpg (GRAPHIC) — 20KB
• g884730g02s01.jpg (GRAPHIC) — 339KB
• g884730g06s02.jpg (GRAPHIC) — 48KB
• g884730g06s03.jpg (GRAPHIC) — 54KB
• g884730g12s04.jpg (GRAPHIC) — 92KB
• 0001193125-24-197138.txt ( ) — 1489KB

From the Filing

6-K SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 6-K REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13A-16 OR 15D-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934 For the month of August 2024 Commission File Number: 001-12102 YPF Sociedad Anónima (Exact name of registrant as specified in its charter) Macacha Güemes 515 C1106BKK Buenos Aires, Argentina (Address of principal executive office) Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F: Form 20-FForm 40-F 2Q24 Webcast on August 9, 2024 9:00 am ET / 10:00 am BAT Buenos Aires, August 8, 2024 YPF (BYMA: YPFD | NYSE: YPF 1 ), announces the 2Q24 results. Information based on financial statements prepared according to IFRS in force in Argentina. The sum of the parts of certain figures is subject to rounding. The Companys functional currency is US$. As from 1Q24, quarterly financial statements, in addition to annuals, are also reported in both currencies (US$ and AR$) to provide a better understanding of our business activities and analysis of our financial performance. 1. MAIN HIGHLIGHTS OF 2Q24 KPI 2Q24 1Q24 Q/Q 2Q23 Y/Y 1H24 1H23 Financial Revenues 4,935 4,310 15 % 4,375 13 % 9,245 8,613 7 % Adjusted EBITDA 1,204 1,245 -3 % 1,005 20 % 2,449 2,050 19 % Net Result 535 657 -19 % 380 41 % 1,192 721 65 % CAPEX 1,200 1,169 3 % 1,281 -6 % 2,369 2,480 -4 % FCF (257 ) (394 ) -35 % (284 ) -10 % (651 ) (301 ) 116 % Net Debt 7,457 7,200 4 % 6,312 18 % 7,457 6,312 18 % Net Leverage Ratio (x) 1.7 1.7 -1 % 1.4 19 % 1.7 1.4 19 % Upstream Hydrocarbon Production (Kboe/d) 539.0 526.0 2 % 513.1 5 % 532.5 511.9 4 % Crude Oil (Kbbl/d) 248.8 255.5 -3 % 240.9 3 % 252.1 239.7 5 % Natural Gas (Mm3/d) 38.8 36.4 7 % 36.5 6 % 37.6 36.5 3 % NGL (Kbbl/d) 46.1 41.8 10 % 42.7 8 % 43.9 42.8 3 % Crude Oil Price (US$/bbl) 70.8 68.3 4 % 63.4 12 % 69.5 65.1 7 % Natural Gas Price (US$/MBTU) 4.0 3.0 35 % 3.9 2 % 3.5 3.5 1 % Medanito Oil Exports (Kbbl/d) 28.6 22.9 25 % 6.0 373 % 25.7 3.0 748 % Total Lifting Cost (US$/boe) 16.2 12.9 25 % 16.0 1 % 14.6 15.3 -5 % Core-Hub Lifting Cost (US$/boe) 4.7 3.3 42 % 4.1 13 % 4.0 4.1 -3 % Downstream Crude Processed (Kbbl/d) 299.2 301.1 -1 % 305.1 -2 % 300.1 306.1 -2 % Refineries Utilization Rate (%) 91 % 92 % -1 % 93 % -2 % 91 % 93 % -2 % Local Fuels Volume Sold (Km3) 3,431 3,489 -2 % 3,658 -6 % 6,920 7,225 -4 % Local Fuels Net Price (US$/m3) 711 691 3 % 625 14 % 701 640 10 % Imported Fuels (Km3) 142 N/A 236 N/A 142 665 -79 % R&M Adj. EBITDA (US$/bbl) 12.7 19.1 -33 % 10.3 24 % 15.9 11.7 36 % In US$ million, unless noted otherwise. EBITDA = Operating income + Depreciation of PP&E + Depreciation of the right of use assets + Amortization of intangible assets + Unproductive exploratory drillings + (Reversal) / Deterioration of PP&E. Adjusted EBITDA = EBITDA that excludes IFRS 16 effects +/- one-off items. Net Leverage Ratio = Net Debt / LTM Adj. EBITDA. FCF = Cash flow from Operations less CAPEX (Investing activities), M&A (Investing activities), and interest and leasing payments (Financing activities). Fuels = diesel + gasoline. R&M is refining and marketing business, it excludes petrochemicals and agro products. Adjusted EBITDA totaled US$1.2 billion (-3% vs. 1Q24), on the back of increasing costs in dollar terms, reflecting the catch up with the devaluation of mid-December (though lower replacement cost of our inventories in 1Q24), and reduced conventional output, affected by severe weather conditions in the south of Argentina in June. These were partially offset by higher seasonal gas, better fuel prices, growing oil exports and tariff update at Metrogas. Interannually, it expanded 20%, mostly due to higher fuel prices (though lower demand) and hydrocarbon output growth, partially offset by increased cost due to higher activity. Hydrocarbon production averaged 539 kboe/d (+2% q/q and +5% y/y), boosted by shale operations, representing 52% of the total. Crude oil declined 3% q/q, since conventional production was affected by harsh weather conditions, while recording a growth of 3% y/y, driven by steady shale oil positive contribution, reaching 113 kbbl/d in 2Q24. Medanito oil exports to Chile averaged 29 kbbl/d (+25% q/q). Domestic fuel demand declined by 2% q/q, mainly due to gasoline demand contraction, mostly offset by higher seasonal diesel demand, addressed with inventory drawdowns, thus avoiding imports. Processing levels at our refineries averaged 299 kbbl

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View this 6-K filing on SEC EDGAR