YPF Sociedad Anónima (NYSE:YPF) Q3 2024 Earnings Conference Call November 8, 2024 8:30 AM ET

Company Participants

Margarita Chun - Investor Relations Manager
Horacio Marin - Chief Executive Officer
Federico Barroetavena - Chief Financial Officer

Conference Call Participants

Vicente Falanga - Bradesco
Bruno Montanari - Morgan Stanley
Daniel Guardiola - BTG
Andres Cardona - Citigroup
Marina Mertens - Latin Securities
Tasso Vasconcellos - UBS
Bruno Amorim - Goldman Sachs
Leonardo Marcondes - Bank of America
Ezequiel Fernandez - Balanz
Maximiliano Westen - Strategy New Businesses and Controlling Vice President

Operator

Hello. Greetings and welcome to the YPF Third Quarter 2024 Earnings Webcast Presentation. All participants are in a listen-only mode at this time. Later, we will conduct a question and answer session.

[Operator Instructions] As a reminder, this conference is being recorded.

At this time, I would like to turn the conference over to Margarita Chun, YPF’s IR Manager. Please go ahead.

Margarita Chun

Good morning, ladies and gentlemen. This is Margarita Chun, YPF IR Manager. Thank you for joining us today in our third quarter 2024 earnings call. This presentation will be conducted by our CFO, Mr. Federico Barroetavena and our Strategy New Businesses and Controlling Vice President Mr. Maximiliano Westen.

During the presentation, we will go through the main aspects and events that explain the quarter results. And then, we will go to open the floor for Q&A session, together with our CEO, Mr. Mr. Horacio Marin.

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 risks 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 might discuss some non-IFRS measures, such as adjusted EBITDA.

I will now turn the call over to Federico. Please go ahead.

Federico Barroetavena

Thank you, Margarita, and good morning, everyone. Let me start today's presentation by describing the main highlights of Q3 2024.

First of all, we achieved a strong level of EBITDA 13% up sequentially and even higher 47% up in interannually, despite the recent rain contraction and extreme weather conditions in Patagonia during July that affected our conventional production.

This positive result reflects the company's dedicated efforts since December, and along this year to fully converge local fuel prices to international tariffs in parallel with our focus on production efficiencies in our core assets, Vaca Muerta where we can now share improved process and efficiency metrics across all the businesses.