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Q1 2015 EARNINGS CALL – YPF S.A.

YPF S.A. · May 8, 2015 · 18 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. Q1 2015 EARNINGS CALL – YPF S.A. – slide 1
    1st Quarter 2015 Earnings Webcast May 8, 2015
  2. Q1 2015 EARNINGS CALL – YPF S.A. – slide 2
    Contents 1 Q1 2015 Results 2 Financial Situation 3 Summary 3
  3. Q1 2015 EARNINGS CALL – YPF S.A. – slide 3
    Q1 2015 Results Highlights Revenues of Ps 34.7 billion (+13% vs. Q1 2014) Adj. EBITDA(1) reached Ps 10.2 billion (+21%) Operating Cash Flow topped Ps 12 billion (+78%) Operating Income was Ps 4.5 billion (+2%) Net Income was Ps…
  4. Q1 2015 EARNINGS CALL – YPF S.A. – slide 4
    Q1 2015 Results Expressed in US Dollars Despite 50% reduction y-o-y in Brent prices, the company showed solid results. Revenues (1) Adj. EBITDA (1) (2) Operating Income (1) (in millions of USD) (in millions of USD) (in millions of…
  5. Q1 2015 EARNINGS CALL – YPF S.A. – slide 5
    Q1 2015 Operating Income Operating income increased 1.9% driven by higher revenues and lower imports. (in millions of Ps) 1,318 6 4,038 -2,741 4,384 4,469 -1,661 -745 -130 Q1 2014 Revenues Purchases Exploration Other…
  6. Q1 2015 EARNINGS CALL – YPF S.A. – slide 6
    Q1 2015 Upstream Results Upstream Operating Income reached Ps 2.3 billion (-25%) due to increases in costs and depreciation that outpaced the increases in revenues due to the decrease in local oil prices. In million of Ps…
  7. Q1 2015 EARNINGS CALL – YPF S.A. – slide 7
    Q1 2015 Upstream Results Production Total y-o-y production growth of 10.2%: 2.3% in crude oil, 18% in natural gas and 12% in NGL Crude oil production Natural gas production Total production (Kbbl/d) (Mm3/d) (Kboe/d) +2.3% +18.0%…
  8. Q1 2015 EARNINGS CALL – YPF S.A. – slide 8
    Q1 2015 Upstream Results Shale Update 47 wells drilled in Q1 2015 (total of 332 producing wells), including 3 horizontal shale oil wells in the east area of Loma Campana and 2 horizontal shale gas wells in El Orejano. Best production…
  9. Q1 2015 EARNINGS CALL – YPF S.A. – slide 9
    Q1 2015 Upstream Results Tight Gas Update Tight gas production in Q1 2015 represents 12% of total gas production, compared to 8% in Q1 2014. Loma La Lata (121 km2 29,900 acres)(1) Rincn del Mangrullo (183 km2 - 45,200 acres)…
  10. Q1 2015 EARNINGS CALL – YPF S.A. – slide 10
    Q1 2015 Downstream Results Downstream operating income decreased by 39%. Lower international prices resulted in a drop in exports, which did not affect domestic sales. (in millions of Ps) 2,306 -27 2,453 -1,985 -628 1,494…
  11. Q1 2015 EARNINGS CALL – YPF S.A. – slide 11
    Q1 2015 Downstream Results - Sales Refinery utilization reached 94% helped by lighter crude coming from unconventional production. Imported volumes of diesel dropped 67% against Q1 2014. Crude processed Domestic sales of refined…
  12. Q1 2015 EARNINGS CALL – YPF S.A. – slide 12
    Q1 2015 Downstream Results Demand Brand recognition; solid demand based on slight market share growth. Monthly Gasoline Sales (Km3) Monthly Diesel Sales (Km3) 800 440 ++ 1.4% 3.9% 2014 +- 0.7% 0.8% Q1 2015 750 420 2013 400 700…
  13. Q1 2015 EARNINGS CALL – YPF S.A. – slide 13
    Q1 2015 Capex (1) (in millions of Ps) Upstream Upstream Neuquina basin: Loma Campana, Downstream Rincn del Mangrullo, Aguada Others +27% 12,351 Toledo and Chachahuen Golfo San Jorge basin: 9,722 Manantiales Behr, El Trbol,…
  14. Q1 2015 EARNINGS CALL – YPF S.A. – slide 14
    Contents 1 Q1 2015 Results 2 Financial Situation 3 Summary 15
  15. Q1 2015 EARNINGS CALL – YPF S.A. – slide 15
    Q1 2015 Cash Flow From Operations Strong Cash Flow From Operations of Ps 12 bn, 78% growth compared to Q1 2014. Sound capital structure; Net Debt / Adj. EBITDA LTM of 1x(3). Consolidated statement of cash flows Cash flow from…
  16. Q1 2015 EARNINGS CALL – YPF S.A. – slide 16
    Financial Situation Update1 Cash position strengthened by additional indebtedness in the international and local markets during Q2 2015. Continued to extend average life of debt. Financial debt amortization schedule (1) (2) (in millions…
  17. Q1 2015 EARNINGS CALL – YPF S.A. – slide 17
    Contents 1 Q1 2015 Results 2 Financial Situation 3 Summary 18
  18. Q1 2015 EARNINGS CALL – YPF S.A. – slide 18
    Summary Solid results despite challenging global oil price environment Focus in cost reductions to offset the effects of a strong peso Keeping activity flat as price visibility supports ongoing projects Continued to build cash…

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