YPF has also closed with a negative operating result, amounting to US$ 1,248 million compared to the 'green numbers' of 2022 of US$ 2,482 million.

The Argentine oil company YPF has recorded losses worth US$ 1,312 million in 2023 compared to the attributable net profit of US$ 2,228 million that it achieved in the previous year.

Revenue for the entire fiscal year 2023 was US$ 17,311 million, 7.7% less than the previous year. This fall is mainly explained by lower prices of fuels, other refined products, petrochemicals and fertilizers, and the severe drought in the first half of the year that impacted the export of grains and flour.

However, the turnover has been partially offset by the resumption of exports of Medanito crude oil to Chile and by the greater local demand for fuels, in particular, gasoline.

As a consequence of the negative evolution of macroeconomic variables throughout the year, such as inflation, salaries and devaluation, and added to a general increase in activity in all businesses, costs have increased by 1.2% year-on-year , up to US$ 13,853 million.

The gross operating result (Ebitda) reached US$ 4,058 million, which is 18% lower than in 2022. This is due to lower local fuel prices measured in dollars, a downward trend in fuel prices. other refined products and higher operating costs.

However, the Ebitda figure has been partially offset by an expansion in total production and processing levels and the new exchange regime for exporters.

YPF has also closed 2023 with a negative operating result, amounting to US$ 1,248 million compared to the 'green numbers' of 2022 of US$ 2,482 million.

Investments in 2023 amounted to US$5,684 million, 36% more year-on-year, exceeding the initial target for the year as a result of higher costs measured in dollars, and reaching the initially planned activity.

Finally, net debt has increased by 13% compared to the end of 2022, totaling an amount of US$ 6,803 million.