Q2 2025 YPF SA Earnings Call Transcript
Key Points
- YPF SA achieved record high production of approximately 165,000 barrels per day in July, demonstrating significant progress in their 4 by 4 plan.
- The company secured a $2 billion syndicated loan for the construction of the Demos pipeline, reopening the international finance market for Argentina.
- YPF SA's shale oil production has increased significantly, with a 28% expansion in shale output fully offsetting the decrease in mature fields.
- The company has successfully divested 28 out of 30 mature blocks, reducing lifting costs by 24% annually.
- YPF SA's innovative micro-pricing and self-fuel projects have led to a 30% increase in gas station sales volume during nighttime hours.
- The realization price of oil decreased by 12% sequentially due to international price volatility.
- YPF SA recorded a negative free cash flow of $355 million in Q2, primarily due to the negative impact from mature fields.
- The company's net debt rose to $8.8 billion, with a net leverage ratio of 1.9 times.
- Crude oil production decreased by 8% sequentially, primarily driven by lower mature fields.
- YPF SA's refining and marketing margins declined by 17% sequentially due to lower prices and higher maintenance costs.
Good morning, ladies and gentlemen. This is Margarita Chu, YPF IR manager. Thank you for joining us today in our second quarter 2025 Ernest Col. Today's presentation will be conducted by our Chairman and CEO, Mr. Horaio Marin, our CFO, Mr. Federico Barretaenia, and our strategy, new businesses and controlling DP, Mr. Maximiliano Western.
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 QAization together with our 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 risk and uncertainties that could cause actual results to be materially different from the expectations contemplated by these remarks.
Our financial figures are stated in accordance with ISRS, but during the presentation, we might discuss some non-ISRS measures such as adjusted the ETA. I will now turn the call over Horacio.
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