Q4 2025 YPF SA Earnings Call Transcript
Key Points
- YPF SA (YPF) achieved a record high EBITDA of $5 billion in 2025, the highest in the last 10 years.
- Shale oil production grew by 42% in December 2025, exceeding the target of 190,000 barrels per day.
- YPF SA (YPF) reduced lifting costs by 44% in Q4 2025 compared to the previous year.
- The company expanded its Vaca Muerta shale reserves by 32%, now accounting for 88% of total P1 reserves.
- YPF SA (YPF) successfully raised $3.7 billion in new funding, demonstrating strong market access and credibility.
- Annual revenues declined by 4% compared to the previous year, primarily due to a 15% contraction in Brent prices.
- Free cash flow was negative at $1.8 billion in 2025, primarily due to exceptional and nonrecurring effects.
- Conventional oil production declined by 32% compared to 2024, averaging 90,000 barrels per day.
- YPF SA (YPF) faces maturities totaling approximately $2.1 billion in 2026, requiring careful financial management.
- The company anticipates a neutral to slightly negative free cash flow position for 2026, despite increased EBITDA.
Hello everyone and welcome to YPF 4th quarter 2025 and full year 2025 earnings webcast presentation. Please note that this call is being recorded. After the prepared remarks, there will be a question-and-answer session. If you'd like to ask a question during that time, please press star, followed by one on your telephone keypad.
Thank you. I'd now like to hand the call over to Margarita Chen, YPF's IR manager. Please go ahead.
Good morning, ladies and gentlemen. This is Margarita Chun, YPF IR manager.
Thank you for joining us today in our full year and fourth quarter 2025 Ernest call.
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 IFRS, but during the presentation we
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