During 2022, YPF’s profitability reached nearly $5,000 million, 27 percent higher than a year earlier, “ranking as the third-highest in company history,” according to a company release released Thursday. . Additionally, the company reported record net income of more than $2.2 billion, or $290,264 million.
Last year’s $5,000 million in profitability constitutes what is known in financial jargon as Adjusted Ebitda, a net profit that the company earns in its day-to-day operations after paying expenses excluding taxes, interest and depreciation and amortization.
YPF announced the 2022 result before a presentation that its authorities will make tomorrow at the New York Stock Exchange and before investors -the company’s president, Pablo González, and its CEO, Pablo Iuliano-, in commemoration of the 30 anniversary of the release of the stock package on the market. The arrival of the Economy Minister, Sergio Massa, has been speculated, who has also opened up the possibility of going to Expoagro this Friday.
The press release that the company released this Thursday highlights favorable data such as that of total hydrocarbon production which recorded the highest organic growth in the last 25 years, with an increase of 7% compared to the previous year, reaching 503,000 barrels of equivalent per day.
However, despite the improvement in numbers, the shares of the oil company, 51% of which is in the hands of the Argentine state, are unable to take off: they are listed at 11.56 dollars per share on the New York Stock Exchange, still below below what they were worth before the 2019 STEP. This Thursday, US economic data that was due to be released tomorrow was in sync with the rest of the market, and everything indicates that it would fuel the hypothesis Wall Street was discussing today: the The Federal Reserve will continue to raise rates and make borrowing more expensive. All this in a context in which the price of a barrel of oil remains around 90 dollars, one of the highest prices in recent years, and with reserves that have reached 1,200 million barrels of oil equivalent, the highest figure since 2015 and 4% higher than the previous year.
The unconventional activity has continued to show excellent results and currently represents over 40% of the company’s consolidated production. Unconventional crude oil and gas production recorded very significant annual growth compared to 2021, of 45% and 47% respectively.
This growth builds on the company’s operational improvements in the development of its Vaca Muerta fields, where in 2022 it achieved efficiency records in well drilling and fracturing times and the highest score in the number of new horizontal well drillings.
In the fourth quarter, the company invested more than $1.4 billion, up 25% from the third quarter.
On the downstream side, domestic fuel sales for the year were 11% higher than a year earlier, setting an all-time annual supply record for both gasoline and diesel, which was supplied through higher levels of processing at our refineries. 6% compared to 2021.
Source: Clarin
