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Full Year 2017 Earnings Presentation – YPF S.A.

YPF S.A. · Mar 5, 2018 · 29 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. Full Year 2017 Earnings Presentation – YPF S.A. – slide 1
    Full Year 2017 EARNINGS WEBCAST March 05, 2018
  2. Full Year 2017 Earnings Presentation – YPF S.A. – slide 2
    CONTENTS 01 2017 Highlights 02 Review of Operations 03 Financial Results 04 Financial Situation 05 Summary 3
  3. Full Year 2017 Earnings Presentation – YPF S.A. – slide 3
    2017 RESULTS HIGHLIGHTS Revenues of Ps 252.8 billion (+20.3%) Adj. EBITDA(1) of Ps 66.8 billion (+14.7%) Net Income of Ps 12.7 billion Operating cash flow of Ps 72.0 billion (+21.8%) Total hydrocarbon production down 3.9%…
  4. Full Year 2017 Earnings Presentation – YPF S.A. – slide 4
    CONTENTS 01 2017 Highlights 02 Review of Operations 03 Financial Results 04 Financial Situation 05 Summary 5
  5. Full Year 2017 Earnings Presentation – YPF S.A. – slide 5
    REVIEW OF FY 2017 OPERATIONS RESULTS EXPRESSED IN US DOLLARS Adj. EBITDA increased by 2.3% driven by a 7.2% increase in Revenues partially offset by a 8.7% increase in Cash Costs and one-time gains in 2016. REVENUES (1) ADJ. EBITDA…
  6. Full Year 2017 Earnings Presentation – YPF S.A. – slide 6
    REVIEW OF Q4 2017 OPERATIONS RESULTS EXPRESSED IN US DOLLARS Adj. EBITDA increased by 5.7% driven by a 12.2% increase in Revenues and partially offset by a 14.2% increase in Cash Costs. REVENUES (1) ADJ. EBITDA (1) (2) OPERATING…
  7. Full Year 2017 Earnings Presentation – YPF S.A. – slide 7
    REVIEW OF FY 2017 OPERATIONS PRODUCTION Total production was down 3.9%. Crude oil production was down mainly due to a reduction in drilling activity and the effects of the severe weather conditions in Q2 2017. CRUDE OIL PRODUCTION…
  8. Full Year 2017 Earnings Presentation – YPF S.A. – slide 8
    REVIEW OF FY 2017 OPERATIONS RESERVES Proved Reserves decreased by 16.5%, partially affected by lower domestic crude oil prices. TOTAL HYDROCARBON RESERVES (MBOE) 1.212 1.226 1.132 1.083 1.113 1.014 982 1.005 979 929 2008…
  9. Full Year 2017 Earnings Presentation – YPF S.A. – slide 9
    REVIEW OF FY 2017 OPERATIONS SHALE OIL & GAS UPDATE NET SHALE O&G PRODUCTION LOMA CAMPANA HORIZONTAL WELL COST (KBOE/D) (KUSD/LATERAL FT.) 42.1 3.05 38.1 32.7 2.27 27.2 1.63 1.39 15.2 11.6 2013 2014 2015 2016 2017 Q4 2017…
  10. Full Year 2017 Earnings Presentation – YPF S.A. – slide 10
    Ongoing Development REVIEW OF FY 2017 OPERATIONS BAJO DEL TORO SALINAS Ongoing Pilots DEL HUITRIN SHALE OIL & GAS UPDATE 2018 Planned Pilots Fold & Thrust Belt CERRO LAS MINAS Volatile Oil to Gas 3,200 meters long lateral well…
  11. Full Year 2017 Earnings Presentation – YPF S.A. – slide 11
    REVIEW OF FY 2017 OPERATIONS DOWNSTREAM PERFORMANCE Sales volumes decreased by 0.5% due to lower sales volumes of fuel oil, LPG and diesel that more than offset higher sales volumes of gasoline and jet fuel. Refinery output flat.…
  12. Full Year 2017 Earnings Presentation – YPF S.A. – slide 12
    REVIEW OF FY 2017 OPERATIONS REFINED PRODUCTS DEMAND Strong gasoline demand pushed volumes sold up 7%; total diesel demand decreased by 0.7% driven by the lower demand from power generators. MONTHLY GASOLINE SALES MONTHLY DIESEL…
  13. Full Year 2017 Earnings Presentation – YPF S.A. – slide 13
    REVIEW OF FY 2017 OPERATIONS GAS & POWER UPDATE Recently announced an agreement with Implied valuation of YPF EE of GE to capitalize YPF EE; YPF would get USD 1,100 M to USD 1,240 M diluted to 75%. YPF EE has 1,807 MW (1) of…
  14. Full Year 2017 Earnings Presentation – YPF S.A. – slide 14
    REVIEW OF DOMESTIC FUEL AND CRUDE OIL PRICES F.O.B. Refinery/Terminal Taxes F.O.B. REFINERY/TERMINAL VS IMPORT PARITY (1) PUMP PRICES BREAKDOWN Comission & Freight % VARIATION % - AS OF MARCH 1ST 2018 RBOB+Etanol vs. Gasoline (2)…
  15. Full Year 2017 Earnings Presentation – YPF S.A. – slide 15
    REVIEW OF NATURAL GAS PRICE SCHEME Market prices are increasing while subsidies are being reduced; average realization price for YPF expected to remain flat. NATURAL GAS MARKET PRICES (1) PLAN GAS INCENTIVES USD/MMBTU, % VOLUMES,…
  16. Full Year 2017 Earnings Presentation – YPF S.A. – slide 16
    CONTENTS 01 2017 Highlights 02 Review of Operations 03 Financial Results 04 Financial Situation 05 Summary 17
  17. Full Year 2017 Earnings Presentation – YPF S.A. – slide 17
    FY 2017 FINANCIAL RESULTS Adj. EBITDA increased by 14.7% driven by a 20.3% increase in Revenues partially offset by one-time gains in 2016, a 35.5% increase in Purchases and a 16% increase in Production Cost. REVENUES ADJ. EBITDA…
  18. Full Year 2017 Earnings Presentation – YPF S.A. – slide 18
    FY 2017 RESULTS OPERATING INCOME Very strong downstream results partially offset by upstream operating loss. OPERATING INCOME (IN MILLIONS OF PS) 1,251 12,720 5,032 16,073 34,943 10,697 11,041 -9,253 -4,374 -24,246 2016…
  19. Full Year 2017 Earnings Presentation – YPF S.A. – slide 19
    FY 2017 RESULTS OPERATING INCOME Strong revenues growing above Cost of Sales and SG&A; DD&A and Purchases on the negative side. OPERATING INCOME (IN MILLIONS OF PS) 42,713 699 -17,315 -8,760 10,697 -8,433 11,041 -4,352…
  20. Full Year 2017 Earnings Presentation – YPF S.A. – slide 20
    FY 2017 RESULTS UPSTREAM Upstream revenues increased on better pricing; however, the increase in DD&A resulted in an operating loss before impairment reversal. OPERATING INCOME (IN MILLIONS OF PS) 699 2,551 34,943 8,098 5,032…
  21. Full Year 2017 Earnings Presentation – YPF S.A. – slide 21
    FY 2017 RESULTS DOWNSTREAM Downstream Operating Income increased more than 5x as revenues increased by 20.1% due to strong sales volumes and higher prices, while costs of sales increased by 11.2%. OPERATING INCOME (IN MILLIONS OF PS)…
  22. Full Year 2017 Earnings Presentation – YPF S.A. – slide 22
    CAPEX BREAKDOWN Capex was down 7.6% in peso terms and Upstream Activity breakdown: 70% in drilling 17.8% in USD terms, mainly due to the and workovers, 24% in facilities decrease in activity in the Upstream segment. and 6% in…
  23. Full Year 2017 Earnings Presentation – YPF S.A. – slide 23
    CONTENTS 01 2017 Highlights 02 Review of Operations 03 Financial Results 04 Financial Situation 05 Summary 24
  24. Full Year 2017 Earnings Presentation – YPF S.A. – slide 24
    FINANCIAL SITUATION Strong cash position at the end of 2017 and positive free cash flow; cash flow from operations up by 21.8%. CONSOLIDATED STATEMENT OF ADJUSTED CASH FLOWS CASH FLOW FROM OPERATIONS (IN MILLION OF PS) (IN MILLION…
  25. Full Year 2017 Earnings Presentation – YPF S.A. – slide 25
    FINANCIAL SITUATION Cash position strengthened by new debt issuances and strong cash flow generation in 2017. FINANCIAL DEBT AMORTIZATION SCHEDULE (1) (2) (IN MILLIONS OF USD) 4,385 2,241 2,115 76.4% denominated in USD…
  26. Full Year 2017 Earnings Presentation – YPF S.A. – slide 26
    CONTENTS 01 2017 Highlights 02 Review of Operations 03 Financial Results 04 Financial Situation 05 Summary 27
  27. Full Year 2017 Earnings Presentation – YPF S.A. – slide 27
    SUMMARY Reaffirm 5-year business plan unveiled in 2017 Strong economy is resulting in continued demand growth for all our products New market environment with liberalized prices in the downstream business; focus on margins…
  28. Full Year 2017 Earnings Presentation – YPF S.A. – slide 28
    Questions and Answers Full year 2017 Earnings Webcast 29
  29. Full Year 2017 Earnings Presentation – YPF S.A. – slide 29
    Full Year 2017 EARNINGS WEBCAST March 05, 2018

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