Q3 2024 YPF SA Earnings Call Transcript
Key Points
- YPF SA (YPF) achieved a strong level of EBITDA, increasing 13% sequentially and 47% year-over-year, despite challenging conditions.
- The company produced 36% more shale oil compared to Q3 last year, now representing almost half of its total production.
- YPF SA (YPF) became the largest oil exporter in Argentina, exporting roughly 40,000 barrels per day.
- Revenues reached $5.3 billion, a 7% sequential increase, driven by higher seasonal gas sales and growing oil exports.
- The company reported a significant net result growth, posting roughly $1.5 billion, almost three times the previous quarter.
- YPF SA (YPF) reported a negative free cash flow of $173 million, affected by higher debt service payments.
- The company faced higher costs related to extreme weather conditions in Patagonia and cost inflation.
- Lifting costs remained high at $16.1 per barrel of oil equivalent, with expectations to reduce to $15, still above the original target of $13.
- Crude oil realization prices decreased by 4% quarter-on-quarter, reflecting a decline in Brent prices.
- The company maintained net debt at $7.5 billion, indicating ongoing financial leverage challenges.
Hello, greetings, and welcome to the YPF third-quarter 2024 earnings webcast presentation. (Operator Instructions) As a reminder, this conference is being recorded.
At this time, I would like to turn the conference over to Margarita Chun, YPF's IR Manager. Please go ahead.
Good morning, ladies and gentlemen. This is Margarita Chun, YPF's IR Manager. Thank you for joining us today in our third-quarter 2024 earnings call. This presentation will be conducted by our CFO, Mr. Federico Barroetave; and our Strategy, New Businesses, and Controlling Vice President, Mr. Maximiliano Westen.
During the presentation, we will go through the main aspects and events that explain the quarter results. And then we will open the floor for Q&A session together with our CEO, Mr. Horacio Marin.
Before we begin, please consider our cautionary statement on slide 2. Our remarks today and answers to your questions may include forward-looking statements, which are subject to risks and uncertainties that
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