Q2 2024 YPF SA Earnings Call Transcript
Key Points
- YPF SA (YPF) produced 20% more shale oil in Q2 2024 compared to Q2 2023, highlighting a successful focus on shale operations.
- The company achieved a 25% increase in crude oil exports through the Trans-Indian pipeline compared to the previous quarter.
- YPF SA (YPF) set a new record in drilling and fracking speed, demonstrating operational efficiency.
- The downstream segment reached an all-time high production record of gasoline in May at La Plata Refinery.
- Revenues grew 13% year-over-year, driven by higher fuel prices and increased oil exports.
- Adjusted EBITDA decreased by 3% sequentially due to cost increases in dollar terms and a drop in conventional output.
- The bottom line fell by 19% sequentially, mainly due to lower equity income and increased exploration expenses.
- Total hydrocarbon production was affected by extreme snowstorms in Patagonia, leading to a temporary shutdown of facilities.
- Free cash flow was negative at $257 million, impacted by higher seasonal sales and increased working capital.
- Net debt increased to $7.5 billion, with a slightly higher leverage ratio of 1.7 times.
Thank you for standing by. My name is Mandeep, and I will be your operator today. At this time, I would like to welcome everyone to the YPF 2Q 2024 earnings webcast presentation call. (Operator Instructions)
Thank you. I will now turn the call over to Margarita Chun, Investor Relations Manager.
Good morning, ladies and gentlemen. This is Margarita Chun, YPF IR Manager. Thank you for joining us today in our second quarter 2024 earnings call. This presentation will be conducted by our CEO, Mr. Horacio Marin; and our CFO, Mr. Federico Barroetave.
During the presentation, we will go through the main aspects and events that explain the quarter results. And then we will go to open the floor for Q&A session, together with our senior management. 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 could cause actual results to be materially
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