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Q2 2014 EARNINGS CALL – YPF S.A.

YPF S.A. · Aug 8, 2014 · 22 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. Q2 2014 EARNINGS CALL – YPF S.A. – slide 1
    2nd Quarter 2014 Earnings Webcast August 8, 2014
  2. Q2 2014 EARNINGS CALL – YPF S.A. – slide 2
    Contents 1 Q2 2014 Results 2 Financial Situation 3 Summary 3
  3. Q2 2014 EARNINGS CALL – YPF S.A. – slide 3
    Q2 2014 Results Highlights Revenues of ARS 35.3 bn (+61% vs. Q2 2013) Adj. EBITDA(1) reached ARS 10.5 bn (+82%) Operating Cash Flow topped 11.4bn (+251%) Operating Income was ARS 6 bn (+168%) Net Income was ARS 1.5 bn (+40%)…
  4. Q2 2014 EARNINGS CALL – YPF S.A. – slide 4
    Q2 2014 Results Expressed in US Dollars Production and Sales volumes growth at higher margins, resulted in solid y-o-y financial performance. Revenues (1) Adj. EBITDA (1) (2) Operating Income (1) (3) (MUSD) (MUSD) (MUSD) 743…
  5. Q2 2014 EARNINGS CALL – YPF S.A. – slide 5
    Q2 2014 Operating Income Operating Income increased by 168% in Q2 2014 driven mainly by higher revenues. In millions of ARS 13,389 477 -5,656 -1,881 5,950 -1,317 -723 -557 2,218 (1) Q2 2013 Revenues Others Other costs…
  6. Q2 2014 EARNINGS CALL – YPF S.A. – slide 6
    Q2 2014 Operating Income Solid performance across both business segments. In millions of ARS 1,711 159 5,950 1,862 2,218 Q2 2013 (1) Upstream Downstream Others Q2 2014 (1) Does not include the impact of non cash…
  7. Q2 2014 EARNINGS CALL – YPF S.A. – slide 7
    Q2 2014 Upstream Results Upstream Operating Income reached ARS 3.3 bn (+129%) due to higher revenues driven by the increase in production of both crude oil and natural gas and by higher prices in pesos. In million of ARS 341 191…
  8. Q2 2014 EARNINGS CALL – YPF S.A. – slide 8
    Q2 2014 Upstream Results Production Total y-o-y production growth of 15.5%, 5.6% in crude oil and 31.8% in natural gas. Crude oil production (1) Natural gas production (1) Total production (1) (Kbbl/d) (Mm3/d) (Kboe/d) 43.5 +31.8%…
  9. Q2 2014 EARNINGS CALL – YPF S.A. – slide 9
    Q2 2014 Upstream Results Production Solid conventional y-o-y natural gas production increase of 4.4%, coupled with inorganic growth and continued shale and tight progress. Crude oil production Natural gas production (kbbl/d) (Mm3/d)…
  10. Q2 2014 EARNINGS CALL – YPF S.A. – slide 10
    Vaca Muerta Vertical Well Production Loma Campana - Sweet Spots Confirming Well Productivity V H 50,000 50.000 2011: 15 wells 45,000 45.000 2012: 10 wells 2013: 93 wells 40,000 40.000 Type well curve 35,000 35.000 Avrg well…
  11. Q2 2014 EARNINGS CALL – YPF S.A. – slide 11
    Q2 2014 Downstream Results Downstream Operating Income grew 141% in Q2 2014, due to higher revenues in the domestic market. In millions of ARS 11,044 177 -7,839 2,921 -1,084 -392 1,210 -195 Q2 2013 Revenues Affiliates…
  12. Q2 2014 EARNINGS CALL – YPF S.A. – slide 12
    Q2 2014 Downstream Results - Sales Refinery output restored after La Plata Refinery incident in Q2 2013. Crude processed Domestic sales of refined products (kbbl/d) (Km3) +7% 20% 292 4,087 3,819 Others 243 +198% LPG +6%…
  13. Q2 2014 EARNINGS CALL – YPF S.A. – slide 13
    Q2 2014 Refined Products Demand Strong YPF performance in a challenging domestic market. Diesel volumes (1) Gasoline volumes (1) (Jan-13 base = 100) (Jan-13 base = 100) YPF YPF Rest of the market Rest of the market jul-13…
  14. Q2 2014 EARNINGS CALL – YPF S.A. – slide 14
    Q2 2014 Capex (1) In millions of ARS Upstream Upstream Neuquina basin: Loma La Lata, Loma Campana, Rincn del Downstream 10,866 Mangrullo and Aguada Toledo Others +66.9% Golfo San Jorge basin: Manantiales Behr, El Trbol,…
  15. Q2 2014 EARNINGS CALL – YPF S.A. – slide 15
    Contents 1 Q1 2014 Results 2 Financial Situation 3 Summary 16
  16. Q2 2014 EARNINGS CALL – YPF S.A. – slide 16
    Q2 2014 Cash Flow From Operations Cash flow from operations grew ARS 8 bn against Q2 2013. Sound capital structure (Net Debt / Adj. EBITDA LTM of 0.9x) (3). In millions of ARS 11,430 +251% 6,041 11,430 6,715 11,448 -9,132…
  17. Q2 2014 EARNINGS CALL – YPF S.A. – slide 17
    Q2 2014 Margin Evolution Healthy recovery based on production increase and pricing discipline. Adj. EBITDA and Adj. EBITDA margin (1) (2) Operating Income and Operating margin (1) (3) (MUSD - %) (MUSD - %) 28.9% 29.6% 30,0%1.000…
  18. Q2 2014 EARNINGS CALL – YPF S.A. – slide 18
    Financial Situation Update1 Cash position covers next 18-month debt maturities. Continued to extend average life of debt. Financial debt amortization schedule (1) (2) Peso denominated debt 32% (MUSD) Average interest rates of 28.04%…
  19. Q2 2014 EARNINGS CALL – YPF S.A. – slide 19
    Contents 1 Q1 2014 Results 2 Financial Situation 3 Summary 20
  20. Q2 2014 EARNINGS CALL – YPF S.A. – slide 20
    Summary Continued to increase results and expand margins despite currency devaluation Increased oil & gas production by 15.5% as a result of a balanced mix of conventional and unconventional production coupled with inorganic…
  21. Q2 2014 EARNINGS CALL – YPF S.A. – slide 21
    Questions and Answers 2nd Quarter 2014 Earnings Webcast
  22. Q2 2014 EARNINGS CALL – YPF S.A. – slide 22
    2nd Quarter 2014 Earnings Webcast August 8, 2014

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