Ypf Sa Class D · BCBA:YPFD
Ypf Sa Class D — Q2 2020 Earnings Presentation
13 slides from Ypf Sa Class D's earnings presentation, Aug 11, 2020
Slide 1: 2nd Quarter 2020 Earnings Webcast
2nd QUARTER 2020 EARNINGS WEBCAST AUGUST 11 TH, 2020 Clasificación YPF: No Confidencial
Slide 2: Important Notice
IMPORTANT NOTICE Saf e harbor statement under the US Priv ate Securities Litigation Ref orm Act of 1995. This document contains statements that Y PF believ es constitute f orward-looking statements within the meaning of the US Priv ate Securities Litigation Ref orm Act of 1995. These f orward-lookin
Slide 3: Main Highlights 2nd Quarter 2020
01 02 Continued prioritizing strict Adjusted activity to face MAIN health and safety protocols deteriorated market amid COVID-19 to protect conditions, but latest our people. We have also figures are already HIGHLIGHTS continued improving the showing a recovery safety of our operations (IFR at 0.15(
Slide 4: Adjusted activity to preserve long-term financial sustainability
ADJUSTED ACTIVITY TO PRESERVE LONG-TERM FINANCIAL SUSTAINABILITY REVENUES CAPEX (In Millions of USD) -47% (In Millions of USD) 3,672 -31% -82% 2,832 915 -73% 598 1,947 162 2Q19 1Q20 2Q20 2Q19 1Q20 2Q20 CASH OPERATING COSTS NET DEBT (In Millions of USD) (In Millions of USD) -34% -5% -3% 2,721 -10% 7,
Slide 5: Adjusted EBITDA
UNPRECEDENTED MARKET CONDITIONS HAD A NEGATIVE IMPACT ACROSS OUR BUSINESSES ADJUSTED EBITDA (1) (In Millions of USD) 948 -583 -23 -175 -139 28 Adj. EBITDA Adj. EBITDA Upstream Downstream G&E Corporate & Adj. Adj.EBITDA EBITDA Impairment D&A + other Op. Op. Incom Incomee 2Q19 2Q19 Eliminations 2Q20 2
Slide 6: Production contracted due to COVID restrictions and deteriorated market conditions
PRODUCTION CONTRACTED DUE TO COVID RESTRICTIONS AND DETERIORATED MARKET CONDITIONS NGL TOTAL NET PRODUCTION Natural Gas LIFTING COST 2Q20 (KBOE/D) (USD/BOE) -9.5% YoY Crude Oil -8.5% QoQ -24% 516 530 525 510 -17% 467 473 12.3 11.3 9.4 2Q19 3Q19 4Q19 1Q20 2Q20 Jul-20E 2Q19 1Q20 2Q20 01 Local prices w
Slide 7: Production fully restored at Vaca Muerta
PRODUCTION FULLY RESTORED AT VACA MUERTA NET SHALE PRODUCTION 01 Positive growth trend (KBOE/D) +21% continues despite the -14% slowdown in 2Q20 114.6 98.9 02 Used large-scale LC as an NGL 81.9 Natural Gas effective buffer to rapidly adjust Crude Oil production on lower demand 03 Potential for near-
Slide 8: Headwinds for downstream are slowing down but full recovery is yet to come
HEADWINDS FOR DOWNSTREAM ARE SLOWING DOWN BUT FULL RECOVERY IS YET TO COME 2Q20 (YoY) FUELS SALES Gasoline -54% CRUDE PROCESSED & REFINERY UTILIZATION (KM 3) Diesel -20% (KBBL/D) Jet Fuel -93% 90% Gasoline Diesel Jet Fuel 450 91% 86% 100% 800 400 82% 90% 350 64% 69% 60% 80% 600 287 290 275 70% -34%
Slide 9: Unprecedented cost-cutting plan
UNPRECEDENTED 30% COST-CUTTING PLAN reduction target OPTIMIZING THE CONTRACTS WITH VENDORS COMPANY’S STRUCTURE (% of dollar v alue) Decentralized operations to improve efficiencies Corporate Upstream REVIEWING CONTRACTS 14% 68% WITH ALL VENDORS Setting up cells to review over 11,000 contracts TEMPOR
Slide 10: Consolidated statement of adjusted cash flow
FINANCIAL HEALTH CONTINUES TO BE AT THE TOP OF OUR AGENDA CONSOLIDATED 47 111 STATEMENT OF 498 ADJUSTED CASH FLOW (1) (In Millions of USD) -286 1,303 1,159 -200 -26 (1) Cash and equivalents at the beginning of 2Q20 converted to USD using the March 31, 2020 exchange rate of Ps 64.37 to U.S $1.00. Cas
Slide 11: Manageable debt profile post liability management exercise
MANAGEABLE DEBT PROFILE POST LIABILITY MANAGEMENT EXERCISE Trade financing PRO-FORMA PRINCIPAL Bank loans Market friendly liability DEBT AMORTIZATION SCHEDULE (1) Bonds management exercise to New 2025 notes (In Millions of USD) Exchanged 2021 notes proactively address market concerns on short 1,569
Slide 12: Questions and Answers
2nd QUARTER 2020 EARNINGS WEBCAST QUESTIONS AND ANSWERS Clasificación YPF: No Confidencial
Slide 13: YPF Investor Center
YPF YPF INVESTOR CENTER