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2Q 2018 Earnings Presentation – YPF S.A.

YPF S.A. · Aug 10, 2018 · 17 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. 2Q 2018 Earnings Presentation – YPF S.A. – slide 1
    2nd QUARTER 2018 EARNINGS WEBCAST August 8th, 2018 1
  2. 2Q 2018 Earnings Presentation – YPF S.A. – slide 2
    Q2 2018: Financial highlights Revenues of Ps 93.0 billion (+54.6%) Adj. EBITDA1 of Ps 24.8 billion (+53.2%) CAPEX of Ps 19.3 billion (+48.4%) Hydrocarbon production down 1.0% Net income of Ps 1.5 billion Operating cash…
  3. 2Q 2018 Earnings Presentation – YPF S.A. – slide 3
    Adj. EBITDA and Revenues measured in USD increased, while Cash Costs remained essentially flat REVENUES (1) ADJ. EBITDA (1) (2) CAPEX (In Millions of USD) (In Millions of USD) (In Millions of USD) +3.3% +2.3% -0.9% 3,963 1,032…
  4. 2Q 2018 Earnings Presentation – YPF S.A. – slide 4
    Adj. EBITDA increased due to higher prices and lower costs in the Upstream business ADJ. EBITDA (In Millions of PS) 12,858 24,782 -1,757 -1,455 -864 -177 12,711 16,177 3,466 1,746 -23,036 Operating Non-cash…
  5. 2Q 2018 Earnings Presentation – YPF S.A. – slide 5
    Strong cash generation performance derived in positive free cash flow CONSOLIDATED STATEMENT OF ADJUSTED CASH FLOW FREE CASH FLOW (1) (In Millions of PS) (Average- In Millions of PS) 9,504 2,388 8,324 27,609 57,597 -18,105…
  6. 2Q 2018 Earnings Presentation – YPF S.A. – slide 6
    Our cash position is enough to cover next 12 months debt maturities FINANCIAL DEBT AMORTIZATION SCHEDULE (1) (2) USD denominated debt DETAILS (In Millions of USD) Peso denominated debt 2,000 86.6% denominated 1,768 in USD and…
  7. 2Q 2018 Earnings Presentation – YPF S.A. – slide 7
    Safety as a core value TOTAL IFR of people injured for each million hours worked 2008 - 2018 1.89 1.60 1.27 1.05 1.05 0.91 0.82 0.72 0.74 0.60 0.58 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 1H 2018 8
  8. 2Q 2018 Earnings Presentation – YPF S.A. – slide 8
    Total production stabilized at -1% driven by unconventional production growth TOTAL PRODUCTION PRODUCTION BREAKDOWN (KBOE/D) (KBOE/D) NGL -1.0% Natural Gas Crude Oil 19.3 550.1 544.5 550.1 -19.2% 544.5 -22.7 -2.2…
  9. 2Q 2018 Earnings Presentation – YPF S.A. – slide 9
    Managing decline of conventional fields to extract maximum value CONVENTIONAL PRODUCTION (KBOE/D) 414.4 0.6 0.3 1.9 391.7 9.3 -34.9 Conventional Natural Decline Oil Primary Oil Secondary Oil Tertiary Natural Gas and…
  10. 2Q 2018 Earnings Presentation – YPF S.A. – slide 10
    Net shale production increased 53% while continuing to focus on cost reductions NET SHALE O&G PRODUCTION(1)(2) SHALE OIL DEVELOPMENT COST - LOMA CAMPANA (KBOE/D) (USD/BOE) 30 +52.8% 16 55.9 13 12 36.6 2015 2016 2017 1H…
  11. 2Q 2018 Earnings Presentation – YPF S.A. – slide 11
    Ongoing Development BAJO Operated Pilots Update on shale projects DEL TORO Non-operated Pilots CERRO LAS MINAS Volatile Oil to Gas and Condensate Loma Campana: Successful delivery of 10,000ft lateral PAMPA DE LAS YEGUAS I…
  12. 2Q 2018 Earnings Presentation – YPF S.A. – slide 12
    Refined products volumes essentially flat, with a slight reduction in domestic sales almost offset by exports; crude processed down due to scheduled maintenance stoppages CRUDE PROCESSED SALES OF REFINED PRODUCTS (KBBL/D) (KM 3)…
  13. 2Q 2018 Earnings Presentation – YPF S.A. – slide 13
    Strong gasoline and diesel demand pushed volumes sold up 5.6% and 3.5% MONTHLY GASOLINE SALES MONTHLY DIESEL SALES (KM3) (KM3) 500 750 + 480 2018 +5.6% 2017 +3.5% 0.8% 460 2018 700 2016 2016 440 420 650 2017 400 380 600…
  14. 2Q 2018 Earnings Presentation – YPF S.A. – slide 14
    Downstream margin was down due to lower fuel prices partially offset by an increase in prices of other refined products and a reduction in opex DOWNSTREAM EBITDA F.O.B. REFINERY/TERMINAL PRICE (USD per refined barrel) % USD/BBL 105…
  15. 2Q 2018 Earnings Presentation – YPF S.A. – slide 15
    Gradual fuel price increase is closing the gap with import parity DIESEL GRADE 2 VS IMPORT PARITY(1) (% VARIATION) +53%(2) 10/2017 11/2017 12/2017 01/2018 02/2018 03/2018 04/2018 05/2018 06/2018 07/2018 5-Aug Import…
  16. 2Q 2018 Earnings Presentation – YPF S.A. – slide 16
    Reaffirming guidance of +10% EBITDA Outlook and production in the -2% area Year 2018 Proving YPF resiliency to Argentinas recent macro volatility 2018 capex down to USD3.5 billion mainly due to peso devaluation Growth prospects in…
  17. 2Q 2018 Earnings Presentation – YPF S.A. – slide 17
    2nd Quarter Earnings Webcast Questions and answers 18

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