Financials YPF Sociedad Anónima

Equities

YPFD

ARP9897X1319

Oil & Gas Refining and Marketing

End-of-day quote Buenos Aires S.E. Other stock markets 09/09/2024			5-day change	1st Jan Change
29,075.00 ^ARS	-1.61%		-8.50%	+74.22%

06/09	UBS Adjusts Price Target on YPF Sociedad Anonima to $30 From $28, Maintains Buy Rating	MT
30/08	Sector Update: Energy Stocks Retreat Late Afternoon	MT

Projected Income Statement: YPF Sociedad Anónima

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	6,78,595	8,46,606	14,30,207	37,74,415	1,46,47,287	1,72,23,546	1,61,00,341	1,62,34,012
Change	-	24.76%	68.93%	163.91%	288.07%	17.59%	-6.52%	0.83%
EBITDA ¹	1,69,857	1,31,289	4,14,758	9,93,011	34,33,579	48,38,315	55,57,965	57,79,008
Change	-	-22.71%	215.91%	139.42%	245.77%	40.91%	14.87%	3.98%
EBIT ¹	20,417	-1,17,925	66,984	5,22,902	7,36,976	22,41,398	27,21,433	29,39,189
Change	-	-	-	680.64%	40.94%	204.13%	21.42%	8%
Interest Paid ¹	-91,533	-1,38,753	-51,318	-25,493	7,58,638	-6,52,432	-6,53,596	-6,56,755
Earnings before Tax (EBT) ¹	-7,010	-82,168	71,845	6,14,950	-2,17,454	20,92,565	25,08,696	27,42,696
Change	-	1,072.16%	-	755.94%	-	-	19.89%	9.33%
Net income ¹	-34,071	-97,699	-2,485	4,48,334	-11,10,117	17,41,118	17,77,854	18,48,004
Change	-	186.75%	-97.46%	-	-	-	2.11%	3.95%
Announcement Date	06/03/20	04/03/21	03/03/22	10/03/23	06/03/24	-	-	-

¹ARS in Million

Estimates

Fiscal Period: December	2019 Q3	2019 Q4	2020 Q1	2020 Q2	2020 Q3	2020 Q4	2021 Q1	2021 Q2	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2
Net sales ¹	1,80,449	2,06,910	1,91,021	1,33,558	1,84,822	2,04,970	2,48,795	3,24,937	3,62,473	3,91,098	4,25,651	6,50,788	8,30,618	9,32,391	9,70,574	12,52,103	15,76,400	35,48,652	38,04,071	46,24,095	44,30,422	42,69,372	43,69,655	43,69,655
Change	-	14.66%	-7.68%	-30.08%	38.38%	10.9%	21.38%	30.6%	11.55%	7.9%	8.84%	52.89%	27.63%	12.25%	4.1%	29.01%	25.9%	125.11%	7.2%	21.56%	-4.19%	-3.64%	2.35%	0%
EBITDA ¹	49,299	39,112	57,401	1,879	31,135	16,524	72,064	1,05,175	1,15,519	90,104	1,13,819	2,01,068	2,40,252	1,87,281	2,39,094	2,87,626	3,24,100	9,15,508	10,98,856	11,28,148	13,35,063	14,29,240	-	-
Change	-	-20.66%	46.76%	-96.73%	1,556.98%	-46.93%	336.12%	45.95%	9.83%	-22%	26.32%	76.66%	19.49%	-22.05%	27.67%	20.3%	12.68%	182.48%	20.03%	2.67%	18.34%	7.05%	-100%	-
EBIT ¹	10,804	-8,186	14,798	-36,015	-26,290	-31,784	7,329	30,078	42,844	-21,175	44,497	1,13,938	1,29,108	93,741	76,721	63,249	41,650	4,51,831	5,87,822	5,52,830	7,34,942	5,58,199	6,22,640	6,22,640
Change	-	-	-	-	-27%	20.9%	-	310.42%	42.44%	-	-	156.06%	13.31%	-27.39%	-18.16%	-17.56%	-34.15%	984.83%	30.1%	-5.95%	32.94%	-24.05%	11.54%	0%
Charge d'intérêts ¹	-33,967	-26,903	-30,134	-37,680	-11,517	-37,553	-4,291	-16,494	-14,715	-4,970	-11,827	-13,673	-	6,223	-24,963	-14,310	39,200	4,64,317	-	-1,50,857	-31,596	-	-	-
Earnings before Tax (EBT) ¹	-3,494	-18,410	5,597	-85,932	-28,593	56,796	8,174	20,278	39,040	-2,269	52,811	1,31,230	-	1,24,453	97,561	1,30,219	-47,950	-8,46,972	4,73,082	4,27,272	2,29,008	-19,455	-	-
Change	-	426.9%	-	-	-66.73%	-	-85.61%	148.08%	92.52%	-	-	148.49%	-100%	-	-21.61%	33.47%	-	1,666.37%	-	-9.68%	-46.4%	-	100%	-
Net income ¹	-12,726	-10,476	6,212	-84,630	-38,442	49,933	-2,161	-46,475	23,224	26,685	29,274	1,05,896	1,08,579	93,339	78,095	95,875	-44,800	-15,73,794	5,72,817	4,86,303	4,17,764	4,78,794	-	-
Change	-	-17.68%	-	-	-54.58%	-	-	2,050.64%	-	14.9%	9.7%	261.73%	2.53%	-14.04%	-16.33%	22.77%	-	3,412.93%	-	-15.1%	-14.09%	14.61%	-100%	-
Announcement Date	07/11/19	06/03/20	11/05/20	11/08/20	10/11/20	04/03/21	12/05/21	10/08/21	09/11/21	03/03/22	11/05/22	10/08/22	10/11/22	10/03/23	11/05/23	10/08/23	09/11/23	06/03/24	10/05/24	09/08/24	-	-	-	-

¹ARS in Million

Estimates

Forecast Balance Sheet: YPF Sociedad Anónima

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	5,14,070	6,41,024	7,64,477	12,03,577	57,53,637	71,21,698	69,20,017	63,77,563
Change	-	24.7%	19.26%	57.44%	378.04%	23.78%	-2.83%	-7.84%
Announcement Date	06/03/20	04/03/21	03/03/22	10/03/23	06/03/24	-	-	-

¹ARS in Million

Estimates

Cash Flow Forecast: YPF Sociedad Anónima

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
CAPEX ¹	1,61,455	1,14,616	2,64,909	8,41,460	48,07,243	47,37,513	42,06,575	42,54,073
Change	-	-29.01%	131.13%	217.64%	471.3%	-1.45%	-11.21%	1.13%
Free Cash Flow (FCF) ¹	55,682	94,600	1,89,823	3,01,296	1,93,677	-3,02,386	1,47,968	4,88,763
Change	-	69.89%	100.66%	58.72%	-35.72%	-256.13%	-148.93%	230.32%
Announcement Date	06/03/20	04/03/21	03/03/22	10/03/23	06/03/24	-	-	-

¹ARS in Million

Estimates

Forecast Financial Ratios: YPF Sociedad Anónima

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Profitability
EBITDA Margin (%)	25.03%	15.51%	29%	26.31%	23.44%	28.09%	34.52%	35.6%
EBIT Margin (%)	3.01%	-13.93%	4.68%	13.85%	5.03%	13.01%	16.9%	18.11%
EBT Margin (%)	-1.03%	-9.71%	5.02%	16.29%	-1.48%	12.15%	15.58%	16.89%
Net margin (%)	-5.02%	-11.54%	-0.17%	11.88%	-7.58%	10.11%	11.04%	11.38%
FCF margin (%)	8.21%	11.17%	13.27%	7.98%	1.32%	-1.76%	0.92%	3.01%
FCF / Net Income (%)	-163.43%	-96.83%	-7,639.13%	67.2%	-17.45%	-17.37%	8.32%	26.45%
Profitability
ROA	-2.65%	-3.98%	-0.1%	9.06%	-5.15%	9.11%	9.16%	7.92%
ROE	-7.56%	-11.42%	-0.28%	23.68%	9.96%	14.55%	18.2%	16.79%
Financial Health
Leverage (Debt/EBITDA)	3.03x	4.88x	1.84x	1.21x	1.68x	1.47x	1.25x	1.1x
Debt / Free cash flow	9.23x	6.78x	4.03x	3.99x	29.71x	-23.55x	46.77x	13.05x
Capital Intensity
CAPEX / Current Assets (%)	23.79%	13.54%	18.52%	22.29%	32.82%	27.51%	26.13%	26.2%
CAPEX / EBITDA (%)	95.05%	87.3%	63.87%	84.74%	140.01%	97.92%	75.69%	73.61%
CAPEX / FCF (%)	289.96%	121.16%	139.56%	279.28%	2,482.1%	-1,566.71%	2,842.9%	870.38%
Items per share
Cash flow per share ¹	-	533.1	1,012	2,915	12,769	9,113	12,873	-
Change	-	-	89.79%	188.16%	337.99%	-28.63%	41.26%	-
Dividend per Share ¹	5.85	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-
Book Value Per Share ¹	1,383	1,725	-	-	-	34,051	38,426	-
Change	-	24.74%	-	-	-	-	12.85%	-
EPS ¹	-86.85	-177.4	-6.482	1,141	-2,833	2,332	2,910	-
Change	-	104.28%	-96.35%	-17,701.17%	-348.32%	-182.3%	24.8%	-
Nbr of stocks (in thousands)	3,93,313	3,93,313	3,93,313	3,93,313	3,93,313	3,93,313	3,93,313	-
Announcement Date	06/03/20	04/03/21	03/03/22	10/03/23	06/03/24	-	-	-