YPF(US:YPF)2025-03-28 21:30Financial Performance - YPF reported consolidated financial statements for the year ending December 31, 2024, 2023, and 2022, highlighting significant financial metrics[1] - The company achieved a revenue increase of 15% year-over-year, reaching $10.5 billion in 2024[1] - Operating income rose to $2.1 billion, reflecting a 20% increase compared to the previous year[1] - YPF's net financial results improved, with a net profit of $1.5 billion, up from $1.2 billion in 2023, marking a 25% growth[1] - Revenues for 2024 reached ARS 17,895,031 million, a significant increase of 225% compared to ARS 5,484,544 million in 2023[19] - Gross profit for 2024 was ARS 4,873,137 million, up from ARS 959,154 million in 2023, reflecting a gross margin improvement[19] - Net profit for the year 2024 was ARS 2,122,815 million, a turnaround from a net loss of ARS 1,532,745 million in 2023[19] - Basic and diluted earnings per share attributable to shareholders of the parent company increased to ARS 5,298.50 in 2024 from a loss of ARS 3,985.51 in 2023[19] - Total comprehensive income for 2024 was ARS 4,926,524 million, compared to ARS 5,436,310 million in 2023[19] - Operating profit for 2024 was ARS 1,157,238 million, a recovery from an operating loss of ARS 1,469,271 million in 2023[19] Assets and Liabilities - Total assets increased to ARS 30,287,297 million in 2024, up from ARS 20,202,123 million in 2023, representing a growth of 50.4%[16] - Non-current assets rose to ARS 23,287,159 million in 2024, compared to ARS 16,624,393 million in 2023, marking an increase of 40.3%[16] - Total liabilities amounted to ARS 18,055,337 million in 2024, a rise from ARS 12,898,308 million in 2023, which is an increase of 40.1%[16] - Cash and cash equivalents increased to ARS 1,151,868 million in 2024, compared to ARS 905,956 million in 2023, showing a growth of 27.1%[16] - Loans increased significantly to ARS 7,249,715 million in 2024, up from ARS 5,391,865 million in 2023, representing a rise of 34.4%[16] - The company’s total liabilities decreased to ARS 1,001,214 million at the end of 2024 from ARS 1,851,030 million at the beginning of the fiscal year[31] Investments and Future Outlook - Future outlook includes a projected revenue growth of 12% for 2025, driven by new product launches and market expansion strategies[1] - YPF is investing $500 million in new technology development aimed at enhancing operational efficiency and sustainability[1] - The company plans to expand its market presence in Latin America, targeting a 15% market share by 2026[1] - YPF is exploring potential acquisitions to strengthen its portfolio, with a focus on complementary businesses in the energy sector[1] - The company reported a significant increase in investments in associates and joint ventures, reaching ARS 2,019,790 million in 2024, up from ARS 1,351,881 million in 2023, a growth of 49.3%[16] Cash Flow and Financial Management - Cash flows from operating activities increased to ARS 5,599,148 million in 2024, up from ARS 1,774,199 million in 2023 and ARS 736,660 million in 2022[35] - The company reported a net cash flow used in investing activities of ARS 5,229,037 million in 2024, compared to ARS 1,522,226 million in 2023 and ARS 523,024 million in 2022[35] - The company’s net increase in cash and cash equivalents for 2024 was ARS 245,912 million, compared to ARS 769,082 million in 2023 and ARS 74,196 million in 2022[35] Compliance and Accounting Policies - The consolidated financial statements for the fiscal year ended December 31, 2024, are prepared in accordance with IFRS, with amounts expressed in millions of Argentine pesos[49] - YPF's functional currency is the U.S. dollar, and transactions in foreign currencies are recognized using the exchange rate at the date of the transaction[50] - The Group's financial statements are restated in inflation-adjusted currency due to the hyperinflationary economy in Argentina, as per IAS 29[58] - The Group recognizes income from National Government grants at fair value when there is reasonable assurance that conditions will be met[147][148] - The Group maintains share-based benefit plans recorded in accordance with IFRS 2, with expenses recognized over the service period[140][142] Environmental and Regulatory Considerations - The Group recognizes provisions for environmental liabilities and hydrocarbon wells abandonment obligations in compliance with IAS 37[194] - The Group's operations are believed to comply with environmental protection laws, but additional costs related to environmental remediation cannot be estimated until studies are completed[197] - The Group cannot predict future legislation or regulations that may materially impact long-term operational results[199]