YPF(US:YPF)2022-03-04 13:54Financial Performance - 2021 Adjusted EBITDA reached US$3.8 billion, surpassing pre-COVID levels of 2019 by 6.4%[12] - The company achieved US$882 million in Free Cash Flow (FCF) in 2021, leading to significant deleveraging[12] - Revenues increased by 41% year-over-year to US$13.238 billion[26] - Net debt decreased by US$805 million year-over-year, reaching US$6.271 billion[28] Production and Reserves - Total hydrocarbon production increased by 14.5% year-over-year in 4Q21[12] - P1 reserves increased to 1.1 billion BOE as of year-end 2021, with a reserve replacement ratio (RRR) of 2.3x[12] - Shale P1 reserves increased by 56.7%, representing 49% of total reserves[58] - Total production in 4Q21 reached 484 KBOE/D[40] Capital Expenditure and Investments - The company fully deployed a CAPEX plan of US$2.7 billion in 2021[12] - US$450+ million was deployed during 2021 (CAPEX and OPEX) for facilities' safety and integrity, including spill prevention and control systems[19] - The company expects a CAPEX of US$150-200 million in 2022 for fuel's sulfur reduction multiyear project[75] Operational Efficiency and Sustainability - The company achieved a 21% reduction in vehicle accident frequency rate through its safe driving program[20] - The company is targeting a 6.5% reduction in total GHG intensity in 2022 compared to 2021[22] - Development costs in the core hub decreased by 56%[51] Market and Demand - Local fuels' demand recovered strongly, exceeding pre-pandemic levels of 2019 in 4Q21 by 7%[62]