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Q4 2013 EARNINGS CALL – YPF S.A.

YPF S.A. · Mar 10, 2014 · 25 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. Q4 2013 EARNINGS CALL – YPF S.A. – slide 1
    Full Year 2013 & 4th Quarter 2013 Earnings Webcast March 10, 2014. Buenos Aires, Argentina
  2. Q4 2013 EARNINGS CALL – YPF S.A. – slide 2
    Contents 1 Highlights 2013 2 Q4 2013 Results 3 Financial Situation 4 Summary 3
  3. Q4 2013 EARNINGS CALL – YPF S.A. – slide 3
    Highlights 2013 Production Production increase reaffirms turn around: first in last 15 years with growth in both oil and gas. Production growth is higher when YPF is operator: +3.4% in oil and +2.2% in gas(1). Total Production(2)…
  4. Q4 2013 EARNINGS CALL – YPF S.A. – slide 4
    Highlights 2013 Reserves Boosted proved reserves by 10.6%. Solid results coming from secondary recovery projects, tight gas and shale formations. Total Hydrocarbon (Mboe) Liquids (Mbbl) Natural Gas (Mboe) RRR 158% RRR 137% RRR…
  5. Q4 2013 EARNINGS CALL – YPF S.A. – slide 5
    Highlights 2013 Activity Increased activity according to plan; additional 15 rigs recently contracted. Continued investments in Downstream to increase capacity in the long term. Capex (MARS) Active Drilling Rigs(1) Today 68 rigs Main…
  6. Q4 2013 EARNINGS CALL – YPF S.A. – slide 6
    Highlights 2013 Unconventional developments Shale development Tight Gas development Objective: Vaca Muerta formation Objective: Lajas formation Invested over USD 1.3 bn Invested 300 MUSD More than 100 wells drilled (19 drilling rigs)…
  7. Q4 2013 EARNINGS CALL – YPF S.A. – slide 7
    Highlights 2013 - Downstream Results Solid demand growth: +10% in gasoline and +1% in diesel. Average price increases of 29.8% in gasoline and 25.4% in diesel. Crude processed (kbbl/d) Domestic sales of refined products (Km3) -3.5%…
  8. Q4 2013 EARNINGS CALL – YPF S.A. – slide 8
    Highlights 2013 - Financial Results Production and sales volume growth, coupled with pricing discipline, led to solid financial results and healthy margins. Recurring Operating Income (MARS) Recurring EBITDA (MARS) Recurring Net…
  9. Q4 2013 EARNINGS CALL – YPF S.A. – slide 9
    Contents 1 Highlights 2013 2 Q4 2013 Results 3 Financial Situation 4 Summary 10
  10. Q4 2013 EARNINGS CALL – YPF S.A. – slide 10
    Q4 2013 Results Highlights Revenues of ARS 25.3 bn (+34.1% vs. Q4 2012) Operating Income was ARS 3.8 bn (+107%) Net Income was ARS 1.9 bn (+88%) EBITDA reached ARS 10.6 bn (+110%) Total Capex was ARS 11 bn (+62%) Crude oil…
  11. Q4 2013 EARNINGS CALL – YPF S.A. – slide 11
    Q4 2013 Operating Income Operating income reached ARS 3.8 billion during Q4 2013, 107% above same period of 2012, although heavily lifted by the ARS 1.9 bn insurance recovery. In million of ARS 2,246 6,432 -2,648 -2,120…
  12. Q4 2013 EARNINGS CALL – YPF S.A. – slide 12
    Q4 2013 Upstream Results Upstream operating income grew 42% due to higher revenues driven by an increase of both prices and production of crude oil and natural gas. In million of ARS 4,443 -2,119 -1,093 1,729 -547 1,222…
  13. Q4 2013 EARNINGS CALL – YPF S.A. – slide 13
    Q4 2013 Upstream Results Production Total production grew by 7.5%. Production in YPF-operated fields increased 8.6% both in crude oil and in natural gas(2). Total production(1) (kboe/d) Crude oil production(1) (kbbl/d) Natural gas…
  14. Q4 2013 EARNINGS CALL – YPF S.A. – slide 14
    Q4 2013 Upstream Results Conventional Production Positive results from optimizations and implementation of development projects in conventional fields. Conventional crude oil production (kbbl/d) (1) Conventional natural gas…
  15. Q4 2013 EARNINGS CALL – YPF S.A. – slide 15
    Q4 2013 Downstream Results Downstream operating income was positively impacted by higher sales volume and prices. In million of ARS 1,976 5,683 4,765 791 2,767 358 109 66 1,197 (1) Q4 2012 Revenues Others Purchases…
  16. Q4 2013 EARNINGS CALL – YPF S.A. – slide 16
    Q4 2013 Downstream Results - Sales Maintained market share with average price increases of 34.7% in gasoline and 30.6% in diesel. Crude processed (kbbl/d) Domestic sales of refined products (Km3) -2.0% +1.4% 293 287 4,037 4,094…
  17. Q4 2013 EARNINGS CALL – YPF S.A. – slide 17
    Q4 2013 Capex(1) In million of ARS 11,028 Upstream +61.9% Neuquina basin: Loma La Lata, Loma Campana, Aguada Toledo, and Chihuido Sierra Negra 6,812 Golfo San Jorge basin: Manantiales Behr, El Trebol and Los Perales…
  18. Q4 2013 EARNINGS CALL – YPF S.A. – slide 18
    Contents 1 Highlights 2013 2 Q4 2013 Results 3 Financial Situation 4 Summary 19
  19. Q4 2013 EARNINGS CALL – YPF S.A. – slide 19
    FY 2013 Financial Situation Issued ARS 7.6 bn and USD 650 million in 2013; increased cash to ARS 10.7 bn Average life of debt of 3.5 years; Peso denominated debt at 41% of total; average interest rates of 6.1% in USD and 21.5% in…
  20. Q4 2013 EARNINGS CALL – YPF S.A. – slide 20
    Currency Exposure Limited long term cash impact from currency fluctuations. Revenues: 65% peso denominated (fuels sold in the local market) 35% dollar denominated (exports, natural gas & others) Cash costs: 55% peso denominated…
  21. Q4 2013 EARNINGS CALL – YPF S.A. – slide 21
    Contents 1 Highlights 2013 2 Q4 2013 Results 3 Financial Situation 4 Summary 22
  22. Q4 2013 EARNINGS CALL – YPF S.A. – slide 22
    Summary 2013 Delivered in line with aggressive plan Turned around production downward trend, increasing drilling activity Increased prices across all products Maintained healthy margins, proving the value of a fully integrated…
  23. Q4 2013 EARNINGS CALL – YPF S.A. – slide 23
    Outlook 2014 Continue focus on growth and renewed focus on efficiency Profitable growth: production and revenue increase with cost control Actively manage macro situation changes Aggressive capex plan but maintaining sound capital…
  24. Q4 2013 EARNINGS CALL – YPF S.A. – slide 24
    Questions and Answers Full Year 2013 & 4th Quarter 2013 Earnings Webcast
  25. Q4 2013 EARNINGS CALL – YPF S.A. – slide 25
    Full Year 2013 & 4th Quarter 2013 Earnings Webcast March 10, 2014. Buenos Aires, Argentina

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