Ypf Sociedad Anonima 6-K, filed Aug 17, 2023

Ypf Sociedad Anonima (YPF)

6-K 2023-08-17 For: 2023-08-17

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Added on April 11, 2026

About this 6-K

Ypf Sociedad Anonima filed this 6-K on August 17, 2023.

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Note	Description	Page
	Glossary of terms	1
	Legal Information	2
	Condensed interim consolidated statements of financial position	3
	Condensed interim consolidated statements of comprehensive income	4
	Condensed interim consolidated statements of changes in shareholders’ equity	5
	Condensed interim consolidated statements of cash flow	7
	Notes to the condensed interim consolidated financial statements:
1	General information, structure and organization of the Group’s business	8
2	Basis of preparation of the condensed interim consolidated financial statements	9
3	Seasonality of operations	12
4	Acquisitions and dispositions	12
5	Financial risk management	12
6	Business segment information	13
7	Financial instruments by category	18
8	Intangible assets	18
9	Property, plant and equipment	19
10	Right-of-use assets	22
11	Investments in associates and joint ventures	22
12	Inventories	25
13	Other receivables	25
14	Trade receivables	25
15	Investments in financial assets	26
16	Cash and cash equivalents	26
17	Provisions	26
18	Income Tax	27
19	Taxes payable	29
20	Salaries and social security	29
21	Lease liabilities	29
22	Loans	30
23	Other liabilities	32
24	Accounts payable	32
25	Revenues	32
26	Costs	34
27	Expenses by nature	35
28	Other net operating results	36
29	Net financial results	36
30	Investments in joint operations	36
31	Shareholders’ equity	37
32	Earnings per share	37
33	Issues related to Maxus Entities	37
34	Contingent assets and contingent liabilities	38
35	Contractual commitments	39
36	Main regulations	39
37	Balances and transactions with related parties	42
38	Employee benefit plans and similar obligations	45
39	Assets and liabilities in currencies other than the peso	46
40	Subsequent events	47


Term		Definition
ADR		American Depositary Receipt
ADS		American Depositary Share
AESA		Subsidiary A-Evangelista S.A.
AFIP		Argentine Tax Authority (Administración Federal de Ingresos Públicos)
ANSES		National Administration of Social Security (Administración Nacional de la Seguridad Social)
ASC		Accounting Standards Codification
Associate		Company over which YPF has significant influence as provided for in IAS 28
B2B		Business to Business
B2C		Business to Consumer
BCRA		Central Bank of the Argentine Republic (Banco Central de la República Argentina)
BNA		Argentine Nation Bank (Banco de la Nación Argentina)
BO		Official Gazette of the Argentine Republic (Boletín Oficial de la República Argentina)
BONAR		Argentine Treasury Bonds (Bonos de la Nación Argentina)
CAMMESA		Compañía Administradora del Mercado Mayorista Eléctrico S.A.
CDS		Associate Central Dock Sud S.A.
CGU		Cash-Generating Units
CNDC		Argentine Antitrust Authority (Comisión Nacional de Defensa de la Competencia)
CNV		Argentine Securities Commission (Comisión Nacional de Valores)
CPI		Consumer Price Index published by INDEC
CSJN		Argentine Supreme Court of Justice (Corte Suprema de Justicia de la Nación Argentina)
CT Barragán		Joint Venture CT Barragán S.A.
Dollar		United States Dollar
Eleran		Subsidiary Eleran Inversiones 2011 S.A.U.
ENARGAS		Argentine Gas Regulator (Ente Nacional Regulador del Gas)
ENARSA		Energía Argentina S.A. (formerly Integración Energética Argentina S.A. “IEASA”)
FACPCE		Argentine Federation of Professional Councils in Economic Sciences (Federación Argentina de Consejos Profesionales de Ciencias Económicas)
FASB		Financial Accounting Standards Board
FOB		Free on board
GPA		Associate Gasoducto del Pacífico (Argentina) S.A.
Gas Austral		Associate Gas Austral S.A.
Group		YPF and its subsidiaries
IAS		International Accounting Standard
IASB		International Accounting Standards Board
IDS		Associate Inversora Dock Sud S.A.
IFRIC		International Financial Reporting Interpretations Committee
IFRS		International Financial Reporting Standard
IIBB		Turnover tax (Impuesto a los ingresos brutos)
INDEC		National Institute of Statistics and Census (Instituto Nacional de Estadística y Censos)
JO		Joint operation
Joint venture		Company jointly owned by YPF as provided for in IFRS 11
LGS		General Corporations Law (Ley General de Sociedades) No. 19,550 (T.O. 1984), as amended
LNG		Liquified natural gas
LPG		Liquefied Petroleum Gas
MBtu		Million British thermal units
MEGA		Joint Venture Company Mega S.A.
Metroenergía		Subsidiary Metroenergía S.A.
Metrogas		Subsidiary Metrogas S.A.
MINEM		Former Ministry of Energy and Mining (Ministerio de Energía y Minería)
NO		Negotiable Obligations
Oiltanking		Associate Oiltanking Ebytem S.A.
OLCLP		Joint Venture Oleoducto Loma Campana – Lago Pellegrini S.A.
Oldelval		Associate Oleoductos del Valle S.A.
OPESSA		Subsidiary Operadora de Estaciones de Servicios S.A.
OTA		Joint Venture OleoductoTrasandino (Argentina) S.A.
OTC		Joint Venture OleoductoTrasandino (Chile) S.A.
PEN		National Executive Power (Poder Ejecutivo Nacional)
Peso		Argentine peso
PIST		Transportation system entry point (Punto de ingreso al sistema de transporte)
Profertil		Joint Venture Profertil S.A.
Refinor		Joint Venture Refinería del Norte S.A.
ROD		Record of decision
RTI		Integral Tariff Review (Revisión Tarifaria Integral)
RTT		Transitional Tariff Regime (Régimen Tarifario de Transición)
SE		Secretariat of Energy (Secretaría de Energía)
SEC		U.S. Securities and Exchange Commission
SEE		Secretariat of Electric Energy (Secretaría de Energía Eléctrica)
SGE		Government Secretariat of Energy (Secretaría de Gobierno de Energía)
SRH		Hydrocarbon Resources Secretariat (Secretaría de Recursos Hidrocarburíferos)
SSHyC		Under-Secretariat of Hydrocarbons and Fuels (Subsecretaría de Hidrocarburos y Combustibles)
Subsidiary		Company controlled by YPF in accordance with the provisions of IFRS 10.
Sustentator		Joint Venture Sustentator S.A.
Termap		Associate Terminales Marítimas Patagónicas S.A.
TFN		National Fiscal Tribunal (Tribunal Fiscal de la Nación)
UNG		Unaccounted Natural Gas
US$		United States Dollar
US$/Bbl		Dollar per barrel
UVA		Unit of Purchasing Power
VAT		Value Added Tax
YPF Brasil		Subsidiary YPF Brasil Comercio Derivado de Petróleo Ltda.
YPF Chile		Subsidiary YPF Chile S.A.
YPF EE		Joint venture YPF Energía Eléctrica S.A.
YPF Gas		Associate YPF Gas S.A.
YPF Holdings		Subsidiary YPF Holdings, Inc.
YPF International		Subsidiary YPF International S.A.
YPF or the Company		YPF S.A.
YPF Perú		Subsidiary YPF E&P Perú S.A.C.
YPF Ventures		Subsidiary YPF Ventures S.A.U.
YTEC		Subsidiary YPF Tecnología S.A.
Y-LUZ		Subsidiary Y-LUZ Inversora S.A.U. controlled by YPF EE
WEM		Wholesale Electricity Market
WI		Working interest


	Notes		June 30, 2023		December 31, 2022
ASSETS
Non-current assets
Intangible assets		8		96,242		68,052
Property, plant and equipment		9		4,760,179		3,100,306
Right-of-use assets		10		130,281		95,748
Investments in associates and joint ventures		11		463,530		337,175
Deferred income tax assets, net		18		4,104		3,010
Other receivables		13		54,359		36,468
Trade receivables		14		1,247		1,027
Investments in financial assets		15		16,633		35,664

Total non-current assets				5,526,575		3,677,450

Current assets
Inventories		12		485,335		307,766
Contract assets		25		1,623		148
Other receivables		13		187,259		143,231
Trade receivables		14		349,007		266,201
Investments in financial assets		15		77,677		56,489
Cash and cash equivalents		16		299,188		136,874

Total current assets				1,400,089		910,709

TOTAL ASSETS				6,926,664		4,588,159


SHAREHOLDERS’ EQUITY
Shareholders’ contributions				6,534		6,306
Retained earnings				2,850,240		1,844,724

Shareholders’ equity attributable to shareholders of the parent company				2,856,774		1,851,030

Non-controlling interest				37,611		17,274

TOTAL SHAREHOLDERS’ EQUITY				2,894,385		1,868,304


LIABILITIES
Non-current liabilities
Provisions		17		553,280		455,213
Deferred income tax liabilities, net		18		354,894		306,708
Income tax liability		18		4,048		4,588
Taxes payable		19		163		185
Salaries and social security		20		3		215
Lease liabilities		21		62,767		48,224
Loans		22		1,615,652		1,053,196
Other liabilities		23		26,643		3,302
Accounts payable		24		1,721		1,319

Total non-current liabilities				2,619,171		1,872,950

Current liabilities
Provisions		17		126,971		34,981
Contract liabilities		25		42,535		13,577
Income tax liability		18		7,917		4,711
Taxes payable		19		46,024		30,660
Salaries and social security		20		55,987		52,622
Lease liabilities		21		74,595		52,061
Loans		22		380,424		201,808
Other liabilities		23		23,335		2,359
Accounts payable		24		655,320		454,126

Total current liabilities				1,413,108		846,905

TOTAL LIABILITIES				4,032,279		2,719,855

TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY				6,926,664		4,588,159


			For the six-month periods ended June 30,				For the three-month periods ended June 30,
	Notes		2023		2022		2023		2022
Net income
Revenues		25		1,857,088		997,421		1,036,763		595,970
Costs		26		(1,494,916)		(713,768)		(848,400)		(410,626)

Gross profit				362,172		283,653		188,363		185,344


Selling expenses		27		(198,455)		(103,353)		(115,705)		(62,847)
Administrative expenses		27		(72,184)		(33,992)		(41,214)		(19,218)
Exploration expenses		27		(5,545)		(2,676)		(1,847)		(1,553)
Other net operating results		28		2,261		(2,827)		3,696		(1,370)

Operating profit				88,249		140,805		33,293		100,356


Income from equity interests in associates and joint ventures		11		38,796		27,694		21,850		15,465

Financial income		29		302,297		85,846		186,110		53,736
Financial costs		29		(332,007)		(103,997)		(196,265)		(60,960)
Other financial results		29		82,778		13,349		58,771		7,017

Net financial results		29		53,068		(4,802)		48,616		(207)



Net profit before income tax				180,113		163,697		103,759		115,614


Income tax		18		(36,315)		(43,217)		(18,561)		(21,551)

Net profit for the period				143,798		120,480		85,198		94,063


Other comprehensive income

Items that may be reclassified subsequently to profit or loss:
Translation effect from subsidiaries, associates and joint ventures				(48,180)		(10,715)		(30,530)		(6,880)
Result from net monetary position in subsidiaries, associates and joint ventures⁽¹⁾				59,903		19,202		35,503		10,824
Items that may not be reclassified subsequently to profit or loss:
Translation differences from YPF				870,332		199,186		525,817		127,780

Other comprehensive income for the period				882,055		207,673		530,790		131,724



Total comprehensive income for the period				1,025,853		328,153		615,988		225,787


Net profit / (loss) for the period attributable to:
Shareholders of the parent company				132,293		119,690		73,727		93,087
Non-controlling interest				11,505		790		11,471		976
Other comprehensive income for the period attributable to:
Shareholders of the parent company				873,223		204,681		525,647		130,036
Non-controlling interest				8,832		2,992		5,143		1,688
Total comprehensive income for the period attributable to:
Shareholders of the parent company				1,005,516		324,371		599,374		223,123
Non-controlling interest				20,337		3,782		16,614		2,664
Earnings per share attributable to shareholders of the parent company:
Basic and diluted		32		337.92		304.53		188.32		236.84


YPF SOCIEDAD ANONIMA
CONDENSED INTERIM CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY
FOR THE SIX-MONTH PERIODS ENDED JUNE 30, 2023 AND 2022 (UNAUDITED)
(Amounts expressed in millions of pesos)


	For the six-month period ended June 30, 2023
	Shareholders’ contributions
	Capital		Adjustment to capital		Treasury shares		Adjustment to treasury shares		Share-based benefit plans			Acquisition cost of treasury shares⁽²⁾			Share trading premium		Issuance premiums		Total
Balance at the beginning of the fiscal year		3,915		6,072		18		29		289			(4,499)			(158)		640		6,306
Accrual of share-based benefit plans ⁽³⁾		-		-		-		-		238			-			-		-		238
Settlement of share-based benefit plans		-		-		-		-		(3)			(6)			(1)		-		(10)
As decided by the Shareholders’ Meeting on April 28, 2023:
- Constitution of reserves		-		-		-		-		-			-			-		-		-
Other comprehensive income		-		-		-		-		-			-			-		-		-
Net profit for the period		-		-		-		-		-			-			-		-		-

Balance at the end of the period		3,915		6,072		18		29		524			(4,505)			(159)		640		6,534


	Retained earnings														Equity attributable to
	Legal reserve		Reserve for future dividends		Reserve for investments		Reserve for purchase of treasury shares		Other comprehensive income			Unappropriated retained earnings and losses			Shareholders of the parent company		Non-controlling interest		Total shareholders’ equity
Balance at the beginning of the fiscal year		139,275		-		-		-		704,235			1,001,214	⁽⁴⁾		1,851,030		17,274		1,868,304
Accrual of share-based benefit plans ⁽³⁾		-		-		-		-		-			-			238		-		238
Settlement of share-based benefit plans		-		-		-		-		-			-			(10)		-		(10)
As decided by the Shareholders’ Meeting on April 28, 2023:
- Constitution of reserves		-		40,000		942,959		6,215		-			(989,174)			-		-		-
Other comprehensive income		62,488		17,969		423,160		2,763		320,617			46,226			873,223		8,832		882,055
Net profit for the period		-		-		-		-		-			132,293			132,293		11,505		143,798

Balance at the end of the period		201,763		57,969		1,366,119		8,978		1,024,852	⁽¹⁾		190,559	⁽⁴⁾		2,856,774		37,611		2,894,385


	For the six-month periods ended June 30,
	2023		2022
Cash flows from operating activities
Net profit		143,798		120,480
Adjustments to reconcile net profit to cash flows provided by operating activities:
Income from equity interests in associates and joint ventures		(38,796)		(27,694)
Depreciation of property, plant and equipment		321,285		137,369
Amortization of intangible assets		4,485		2,674
Depreciation of right-of-use assets		23,651		11,285
Retirement of property, plant and equipment and intangible assets and consumption of materials		33,172		20,841
Charge on income tax		36,315		43,217
Net increase in provisions		41,169		20,083
Effect of changes in exchange rates, interest and others		(11,120)		14,798
Share-based benefit plans		2,537		110
Changes in assets and liabilities:
Trade receivables		(4,365)		(39,272)
Other receivables		(22,010)		745
Inventories		(29,977)		(24,993)
Accounts payable		52,700		7,463
Taxes payables		5,854		12,050
Salaries and social security		(8,768)		(1,553)
Other liabilities		5,432		(2,516)
Decrease in provisions included in liabilities due to payment/use		(23,505)		(6,939)
Contract assets		(1,977)		(857)
Contract liabilities		20,779		15,651
Dividends received		58,450		7,540
Proceeds from collection of profit loss insurance		62		116
Income tax payments		(1,842)		(719)

Net cash flows from operating activities ^(1) (2)		607,329		309,879


Investing activities: ⁽³⁾
Acquisition of property, plant and equipment and intangible assets		(559,135)		(180,241)
Contributions and acquisitions of interests in associates and joint ventures		(840)		-
Proceeds from sales of financial assets		72,558		26,453
Payments from purchase of financial assets		(44,297)		(58,385)
Interests received from financial assets		10,108		2,123
Proceeds from sales of WI of areas and assets		2,783		389

Net cash flows used in investing activities		(518,823)		(209,661)


Financing activities: ⁽³⁾
Payments of loans		(107,074)		(76,128)
Payments of interests		(64,334)		(33,368)
Proceeds from loans		274,540		38,748
Account overdraft, net		(12,487)		5,538
Payments of leases		(38,681)		(18,545)
Payments of interests in relation to income tax		(1,121)		(336)

Net cash flows from / (used in) financing activities		50,843		(84,091)



Effect of changes in exchange rates on cash and cash equivalents		22,965		4,696



Increase in cash and cash equivalents		162,314		20,823


Cash and cash equivalents at the beginning of the fiscal year		136,874		62,678
Cash and cash equivalents at the end of the period		299,188		83,501

Increase in cash and cash equivalents		162,314		20,823


	*In millions of dollars*															In millions of pesos
	Upstream			Gas and Power		Industrialization		Commercialization		Central Administration and Others		Consolidation Adjustments ⁽¹⁾		Total		Total
For the six-month period ended June 30, 2023
Revenues		85			316		144		7,935		133		-		8,613		1,857,088
Revenues from intersegment sales		3,639			93		5,854		137		512		(10,235)		-		-

Revenues		3,724			409		5,998		8,072		645		(10,235)		8,613		1,857,088


Operating profit / (loss)		219	⁽³⁾		(5)		343		116		(154)		37		556		88,249
Income from equity interests in associates and joint ventures		-			166		18		(1)		-		-		183		38,796

Net financial results															142		53,068
Net profit before income tax															881		180,113
Income tax															(160)		(36,315)
Net profit for the period															721		143,798

Acquisitions of property, plant and equipment		2,032			97		455		40		48		-		2,672		602,469
Acquisitions of right-of-use assets		77			18		3		13		-		-		111		25,435

Other income statement items
Depreciation of property, plant and equipment ⁽²⁾		1,204			32		206		26		32		-		1,500		321,285
Amortization of intangible assets		-			5		14		-		-		-		19		4,485
Depreciation of right-of-use assets		66			9		30		5		-		-		110		23,651

Balance as of June 30, 2023
Assets		12,309			2,811		7,139		2,481		2,399		(134)		27,005		6,926,664


	*In millions of dollars*															*In millions* *of pesos*
	Upstream			Gas and Power		Industrialization		Commercialization		Central Administration and Others		Consolidation Adjustments ⁽¹⁾		Total		Total
For the six-month period ended June 30, 2022
Revenues		80			317		83		8,144		131		-		8,755		997,421
Revenues from intersegment sales		3,328			101		5,748		146		335		(9,658)		-		-

Revenues		3,408			418		5,831		8,290		466		(9,658)		8,755		997,421


Operating profit / (loss)		582	⁽³⁾		28		745		223		(138)		(151)		1,289		140,805
Income from equity interests in associates and joint ventures		-			242		5		-		-		-		247		27,694

Net financial results															(77)		(4,802)
Net profit before income tax															1,459		163,697
Income tax															(382)		(43,217)
Net profit for the period															1,077		120,480

Acquisitions of property, plant and equipment		1,311			16		243		26		38		-		1,634		189,678
Acquisitions of right-of-use assets		100			-		-		30		-		-		130		15,586

Other income statement items
Depreciation of property, plant and equipment ⁽²⁾		921			26		201		27		43		-		1,218		137,369
Amortization of intangible assets		-			6		15		-		1		-		22		2,674
Depreciation of right-of-use assets		63			10		3		27		-		(3)		100		11,285

Balance as of December 31, 2022
Assets		11,528			2,797		6,732		3,216		1,807		(168)		25,912		4,588,159


	As of June 30, 2023
Financial Assets	Level 1		Level 2		Level 3		Total
Investments in financial assets:⁽¹⁾
- Public securities		22,738		-		-		22,738

		22,738		-		-		22,738

Cash and cash equivalents:
- Mutual funds		95,230		-		-		95,230

		95,230		-		-		95,230

		117,968		-		-		117,968


	As of December 31, 2022
Financial Assets	Level 1		Level 2		Level 3		Total
Investments in financial assets:⁽¹⁾
- Public securities		13,029		-		-		13,029

		13,029		-		-		13,029

Cash and cash equivalents:
- Mutual funds		59,524		-		-		59,524

		59,524		-		-		59,524

		72,553		-		-		72,553


	June 30, 2023		December 31, 2022
Net book value of intangible assets		106,432		75,086
Provision for impairment of intangible assets		(10,190)		(7,034)

		96,242		68,052


	Service concessions		Exploration rights		Other intangibles		Total
Cost		93,124		14,010		45,705		152,839
Accumulated amortization		66,452		-		38,913		105,365

Balance as of December 31, 2021		26,672		14,010		6,792		47,474


Cost
Increases		3,483		-		691		4,174
Translation effect		68,572		9,893		27,427		105,892
Adjustment for inflation ⁽¹⁾		-		-		6,363		6,363
Decreases, reclassifications and other movements		-		(4,346)		-		(4,346)

Accumulated amortization
Increases		3,560		-		2,692		6,252
Translation effect		49,484		-		26,628		76,112
Adjustment for inflation ⁽¹⁾		-		-		2,107		2,107
Decreases, reclassifications and other movements		-		-		-		-

Cost		165,179		19,557		80,186		264,922
Accumulated amortization		119,496		-		70,340		189,836

Balance as of December 31, 2022		45,683		19,557		9,846		75,086


Cost
Increases		1,883		-		284		2,167
Translation effect		74,412		8,745		29,841		112,998
Adjustment for inflation ⁽¹⁾		-		-		6,986		6,986
Decreases, reclassifications and other movements		-		(96)		7		(89)

Accumulated amortization
Increases		2,927		-		1,558		4,485
Translation effect		54,212		-		28,690		82,902
Adjustment for inflation ⁽¹⁾		-		-		3,329		3,329
Decreases, reclassifications and other movements		-		-		-		-

Cost		241,474		28,206		117,304		386,984
Accumulated amortization		176,635		-		103,917		280,552

Balance as of June 30, 2023		64,839		28,206		13,387		106,432


	June 30, 2023		December 31, 2022
Net book value of property, plant and equipment		4,918,645		3,233,211
Provision for obsolescence of materials and equipment		(38,101)		(26,671)
Provision for impairment of property, plant and equipment		(120,365)		(106,234)

		4,760,179		3,100,306


	Land and buildings		Mining property, wells and related equipment		Refinery equipment and petrochemical plants		Transportation equipment		Materials and equipment in warehouse		Drilling and work in progress		Exploratory drilling in progress		Furniture, fixtures and installations		Selling equipment		Infrastructure for natural gas distribution		Other property		Total
Cost		137,967		4,900,829		854,492		50,297		108,514		289,356		4,228		82,716		135,472		102,111		88,626		6,754,608
Accumulated depreciation		67,325		4,127,030		525,484		34,619		-		-		-		72,058		89,234		52,044		65,186		5,032,980

Balance as of December 31, 2021		70,642		773,799		329,008		15,678		108,514		289,356		4,228		10,658		46,238		50,067		23,440		1,721,628


Cost
Increases		141		49,165		9,433		1,654		129,830		441,811		6,152		181		-		-		5,104		643,471
Translation effect		86,377		3,647,068		634,515		32,957		75,915		218,533		2,401		58,485		99,489		-		47,208		4,902,948
Adjustment for inflation⁽¹⁾		19,713		-		-		5,440		2,060		6,441		-		3,239		-		96,791		23,621		157,305
Decreases, reclassifications and other movements		3,095		271,295		38,007		3,058		(105,285)		(268,710)		(6,299)		2,599		3,004		6,171		384		(52,681)

Accumulated depreciation
Increases		3,971		279,232		49,531		3,579		-		-		-		7,319		8,814		3,326		4,611		360,383
Translation effect		42,174		3,087,200		397,826		22,904		-		-		-		52,743		67,230		-		36,278		3,706,355
Adjustment for inflation⁽¹⁾		10,376		-		-		3,617		-		-		-		2,872		-		49,332		15,453		81,650
Decreases, reclassifications and other movements		(55)		(4,752)		(55)		(1,079)		-		-		-		8		(1,349)		(1,475)		(171)		(8,928)

Cost		247,293		8,868,357		1,536,447		93,406		211,034		687,431		6,482		147,220		237,965		205,073		164,943		12,405,651
Accumulated depreciation		123,791		7,488,710		972,786		63,640		-		-		-		135,000		163,929		103,227		121,357		9,172,440

Balance as of December 31, 2022		123,502		1,379,647		563,661		29,766		211,034		687,431		6,482		12,220		74,036		101,846		43,586		3,233,211


Cost
Increases		56		436		3,894		1,785		145,721		442,622		6,417		506		2		-		1,030		602,469
Translation effect		93,148		4,047,241		694,711		36,846		92,724		298,315		3,410		63,812		108,496		-		51,596		5,490,299
Adjustment for inflation⁽¹⁾		20,947		-		-		6,496		2,205		5,367		-		3,529		-		103,931		25,629		168,104
Decreases, reclassifications and other movements		3,883		235,844		20,540		4,622		(109,394)		(227,001)		(1,228)		5,009		7,303		3,647		643		(56,132)

Accumulated depreciation
Increases		3,215		288,200		38,697		3,515		-		-		-		3,886		6,805		2,926		3,755		350,999
Translation effect		46,345		3,413,953		444,501		25,271		-		-		-		58,587		74,678		-		39,646		4,102,981
Adjustment for inflation⁽¹⁾		11,291		-		-		4,259		-		-		-		3,154		-		52,316		17,355		88,375
Decreases, reclassifications and other movements		1		(21,486)		-		(586)		-		-		-		1		(857)		(13)		(109)		(23,049)

Cost		365,327		13,151,878		2,255,592		143,155		342,290		1,206,734		15,081		220,076		353,766		312,651		243,841		18,610,391
Accumulated depreciation		184,643		11,169,377		1,455,984		96,099		-		-		-		200,628		244,555		158,456		182,004		13,691,746

Balance as of June 30, 2023		180,684		1,982,501		799,608		47,056		342,290		1,206,734		15,081		19,448		109,211		154,195		61,837		4,918,645


	Provision for obsolescence of materials and equipment
Balance as of December 31, 2021		12,576

Increases charged to profit or loss		4,775
Applications due to utilization		(382)
Translation differences		9,624
Adjustment for inflation⁽¹⁾		78

Balance as of December 31, 2022		26,671

Increases charged to profit or loss		326
Applications due to utilization		(783)
Translation differences		11,740
Adjustment for inflation⁽¹⁾		147

Balance as of June 30, 2023		38,101


	Provision for impairment of property, plant and equipment
Balance as of December 31, 2021		66,793

Increases charged to profit or loss⁽¹⁾		18,427
Depreciation⁽²⁾		(22,364)
Translation differences		42,678
Adjustment for inflation⁽³⁾		700

Balance as of December 31, 2022		106,234

Increases charged to profit or loss		-
Depreciation⁽²⁾		(29,714)
Translation differences		43,078
Adjustment for inflation⁽³⁾		767

Balance as of June 30, 2023		120,365


	Land and buildings		Exploitation facilities and equipment		Machinery and equipment		Gas stations		Transportation equipment		Total
Cost		3,397		36,108		28,808		10,276		31,358		109,947
Accumulated depreciation		1,125		22,713		16,822		3,738		12,289		56,687

Balance as of December 31, 2021		2,272		13,395		11,986		6,538		19,069		53,260


Cost
Increases		402		21,655		2,330		676		20,265		45,328
Translation effect		2,347		30,633		21,376		6,025		25,259		85,640
Adjustment for inflation ⁽¹⁾		66		-		-		2,012		-		2,078
Decreases, reclassifications and other movements		(391)		(878)		(2,324)		(1,407)		(11,212)		(16,212)

Accumulated depreciation
Increases		1,092		10,878		7,529		1,626		14,614		35,739
Translation effect		1,199		19,894		14,611		2,288		13,198		51,190
Adjustment for inflation ⁽¹⁾		63		-		-		951		-		1,014
Decreases, reclassifications and other movements		(161)		(214)		(1,911)		(797)		(10,514)		(13,597)

Cost		5,821		87,518		50,190		17,582		65,670		226,781
Accumulated depreciation		3,318		53,271		37,051		7,806		29,587		131,033

Balance as of December 31, 2022		2,503		34,247		13,139		9,776		36,083		95,748


Cost
Increases		3,391		14,708		7,336		-		-		25,435
Translation effect		2,546		41,155		23,993		6,048		29,463		103,205
Adjustment for inflation ⁽¹⁾		74		-		-		2,136		-		2,210
Decreases, reclassifications and other movements		(327)		-		-		-		-		(327)

Accumulated depreciation
Increases		632		11,912		4,260		1,216		12,692		30,712
Translation effect		1,554		26,350		17,500		2,638		16,046		64,088
Adjustment for inflation ⁽¹⁾		73		-		-		1,236		-		1,309
Decreases, reclassifications and other movements		(119)		-		-		-		-		(119)

Cost		11,505		143,381		81,519		25,766		95,133		357,304
Accumulated depreciation		5,458		91,533		58,811		12,896		58,325		227,023

Balance as of June 30, 2023		6,047		51,848		22,708		12,870		36,808		130,281


	June 30, 2023		December 31, 2022
Amount of investments in associates		47,190		30,525
Amount of investments in joint ventures		416,340		306,650

		463,530		337,175


	Investments in associates and joint ventures
Balance as of December 31, 2021		156,925

Acquisitions and contributions		270
Income on investments in associates and joint ventures		58,082
Translation differences		123,223
Distributed dividends		(12,157)
Adjustment for inflation ⁽¹⁾		10,749
Capitalization in associates and joint ventures		83

Balance as of December 31, 2022		337,175

Acquisitions and contributions		1,174
Income on investments in associates and joint ventures		38,796
Translation differences		134,313
Distributed dividends		(58,654)
Adjustment for inflation ⁽¹⁾		10,726
Capitalization in associates and joint ventures		-

Balance as of June 30, 2023		463,530


	Associates				Joint ventures
	For the six-month periods ended June 30,				For the six-month periods ended June 30,
	2023		2022		2023		2022
Net income		2,742		614		36,054		27,080
Other comprehensive income		14,263		3,047		130,776		34,630

Comprehensive income for the period		17,005		3,661		166,830		61,710


	June 30, 2023 ⁽¹⁾		December 31, 2022 ⁽¹⁾
Total non-current assets		511,070,402		325,583,892
Cash and cash equivalents		42,134,374		16,684,788
Other current assets		51,552,089		31,531,592
Total current assets		93,686,463		48,216,380

Total assets		604,756,865		373,800,272


Financial liabilities (excluding Accounts Payable, Provisions and Other Liabilities)		215,548,231		127,658,505
Other non-current liabilities		28,337,464		17,103,150
Total non-current liabilities		243,885,695		144,761,655
Financial liabilities (excluding Accounts Payable, Provisions and Other Liabilities)		26,868,029		26,591,063
Other current liabilities		21,625,933		19,627,928
Total current liabilities		48,493,962		46,218,991

Total liabilities		292,379,657		190,980,646



Total shareholders’ equity		312,377,208		182,819,626


Dividends received		9,000,000		4,500,000

	For the six-month periods ended June 30,
	2023 ⁽¹⁾		2022 ⁽¹⁾
Revenues		53,641,741		26,265,398
Interest income		9,783,322		2,461,004
Depreciation and amortization		(13,591,616)		(5,941,581)
Interest loss		(6,228,580)		(4,056,198)
Income tax		1,893,538		(1,542,785)
Operating profit		32,084,014		13,847,420

Net profit		20,995,669		8,821,426
Other comprehensive income		89,658,379		22,289,550

Total comprehensive income		110,654,048		31,110,976


	June 30, 2023			December 31, 2022
Refined products		335,425			202,465
Crude oil and natural gas		112,907			79,511
Products in process		12,046			9,083
Raw materials, packaging materials and others		24,957			16,707

		485,335	⁽¹⁾		307,766	⁽¹⁾


	June 30, 2023					December 31, 2022
	Non-current		Current			Non-current		Current
Receivables from services and sales of other assets		651		2,788			2,238		663
Tax credit and export rebates		38,816		12,675			27,086		61,958
Loans to third parties and balances with related parties ⁽¹⁾		9,420		2,427			1,750		5,359
Collateral deposits		2		77,465	⁽³⁾		2		961
Prepaid expenses		4,892		13,910			4,091		7,193
Advances and loans to employees		106		1,992			97		948
Advances to suppliers and custom agents ⁽²⁾		-		29,144			-		29,269
Receivables with partners in JO		2,722		41,014			2,752		31,659
Insurance receivables		-		-			-		60
Miscellaneous		1,650		5,983			1,144		5,301

		58,259		187,398			39,160		143,371
Provision for other doubtful receivables		(3,900)		(139)			(2,692)		(140)

		54,359		187,259			36,468		143,231


	Provision for doubtful trade receivables
	Non-current			Current
Balance as of December 31, 2021		9,788	⁽²⁾		10,432

Increases charged to expenses		-			3,324
Decreases charged to income		-			(853)
Applications due to utilization		-			(897)
Reclassifications		-			-
Net exchange and translation differences		-			2,098
Result from net monetary position ⁽¹⁾		-			(694)

Balance as of December 31, 2022		9,788	⁽²⁾		13,410

Increases charged to expenses		-			2,732
Decreases charged to income		-			(435)
Applications due to utilization		-			(16)
Reclassifications		-			23
Net exchange and translation differences		-			2,398
Result from net monetary position ⁽¹⁾		-			(115)

Balance as of June 30, 2023		9,788	⁽²⁾		17,997


	June 30, 2023			December 31, 2022
Cash and banks ⁽¹⁾		89,230			65,407
Short-term investments		114,728	⁽²⁾		11,943
Financial assets at fair value with changes in results ⁽³⁾		95,230			59,524

		299,188			136,874


	Provision for lawsuits and contingencies					Provision for environmental liabilities				Provision for hydrocarbon wells abandonment obligations				Total
	Non- current			Current		Non- current		Current		Non- current		Current		Non- current		Current
Balance as of December 31, 2021		89,473			2,204		9,802		7,023		159,203		10,070		258,478		19,297

Increases charged to expenses		30,082	⁽²⁾		10		10,509		-		28,139		-		68,730		10
Decreases charged to income		(60,624)	⁽³⁾		(11)		(257)		-		(7,320)		-		(68,201)		(11)
Applications due to utilization		(2,003)			(4,301)		-		(6,887)		-		(8,160)		(2,003)		(19,348)
Reclassifications and other movements		(7,245)	⁽⁴⁾		4,254		(7,935)		7,935		31,656		15,667		16,476		27,856
Net exchange and translation differences		51,526			1,563		4,871		12		125,462		5,602		181,859		7,177
Result from net monetary position ⁽¹⁾		(126)			-		-		-		-		-		(126)		-

Balance as of December 31, 2022		101,083			3,719		16,990		8,083		337,140		23,179		455,213		34,981

Increases charged to expenses		8,826			510		6,965		-		27,902		-		43,693		510
Decreases charged to income		(4,990)			-		-		-		-		-		(4,990)		-
Applications due to utilization		(396)			(2,961)		-		(5,358)		-		(13,991)		(396)		(22,310)
Reclassifications and other movements		(92,495)	⁽⁵⁾		64,074		(9,540)		9,540		(13,731)		13,731		(115,766)		87,345
Net exchange and translation differences		16,457			15,710		4,031		75		155,038		10,660		175,526		26,445
Result from net monetary position ⁽¹⁾		-			-		-		-		-		-		-		-

Balance as of June 30, 2023		28,485			81,052		18,446		12,340		506,349		33,579		553,280		126,971


	June 30, 2023		December 31, 2022 ⁽⁴⁾
Deferred tax assets
Provisions and other non-deductible liabilities		43,127		27,205
Lease liabilities		48,077		33,297
Tax losses carryforward		47,195		29,620
Miscellaneous		137		247

Total deferred tax assets		138,536		90,369


Deferred tax liabilities
Property, plant and equipment and others ⁽¹⁾		(156,825)		(181,957)
Adjustment for tax inflation ⁽²⁾		(275,253)		(170,961)
Right-of-use assets		(45,598)		(31,819)
Miscellaneous		(11,650)		(9,330)

Total deferred tax liabilities		(489,326)		(394,067)

Total Net deferred tax ⁽³⁾		(350,790)		(303,698)


	Lease liabilities
Balance as of December 31, 2021		55,622

Leases increase		45,328
Leases decrease		(2,626)
Payments		(44,960)
Financial accretions		9,961
Exchange and translation differences, net		36,879
Result from net monetary position ⁽¹⁾		81

Balance as of December 31, 2022		100,285

Leases increase		25,435
Leases decrease		(203)
Payments		(38,681)
Financial accretions		8,592
Exchange and translation differences, net		41,905
Result from net monetary position ⁽¹⁾		29

Balance as of June 30, 2023		137,362


							June 30, 2023					December 31, 2022
	Interest rate⁽¹⁾				Maturity		Non-current		Current			Non-current		Current
Pesos:
NO		83.44%	-	87.65%		2023-2024		32,533		4,105			11,374		1,022
Loans		105.47%	-	105.47%		2024		13,150		3,092			8,136		4,359
Account overdraft			-			-		-		-			-		12,487

								45,683		7,197			19,510		17,868

Currencies other than the peso:
NO ^{(2) (3)}		0.00%	-	10.00%		2023-2047		1,485,399		230,411			990,512		146,569
Export pre-financing		1.90%	-	10.50%		2023-2025		42,129		88,403	⁽⁴⁾		-		3,971
Imports financing		8.96%	-	8.96%		2023		-		5,033			-		3,647
Loans		5.07%	-	19.75%		2023-2027		42,441		49,380			43,174		29,753

								1,569,969		373,227			1,033,686		183,940

								1,615,652		380,424			1,053,196		201,808


	Loans
Balance as of December 31, 2021		757,215

Proceeds from loans		49,265
Payments of loans		(94,517)
Payments of interest		(73,123)
Account overdraft, net		11,693
Accrued interest ⁽¹⁾		91,714
Net exchange differences and translation		514,249
Result from net monetary position ⁽²⁾		(1,492)

Balance as of December 31, 2022		1,255,004

Proceeds from loans		274,540
Payments of loans		(107,074)
Payments of interest		(64,334)
Account overdraft, net		(12,487)
Accrued interest ⁽¹⁾		75,287
Net exchange differences and translation		575,502
Result from net monetary position ⁽²⁾		(362)

Balance as of June 30, 2023		1,996,076


												June 30, 2023				December 31, 2022

Month	Year	Principal Value		Class		Interest rate⁽¹⁾				Principal Maturity		Non-current		Current		Non-current		Current

YPF
-	1998	US$	15		-		Fixed	10.00	%		2028		3,801		62		2,624		42
April, February, October	2014/15/16	US$	1,522		Class XXVIII		Fixed	8.75	%		2024		-		90,708		61,318		48,336
September	2014	$	1,000		Class XXXIV		BADLAR + 0.1%	83.44	%		2024		167		242		167		228
April	2015	US$	1,500		Class XXXIX		Fixed	8.50	%		2025		290,299		10,419		200,391		7,192
October	2015	$	2,000		Class XLIII		BADLAR	86.96	%		2023		-		778		-		756
July, December	2017	US$	1,000		Class LIII		Fixed	6.95	%		2027		209,617		6,203		144,816		4,341
December	2017	US$	750		Class LIV		Fixed	7.00	%		2047		135,811		381		93,728		263
June	2019	US$	500		Class I		Fixed	8.50	%		2029		101,905		73		70,327		67
July	2020	US$	543		Class XIII		Fixed	8.50	%		2025		21,666		22,815		22,498		15,925
December, February	2020/21	US$	137		Class XIV		Fixed	2.00	%		2023		-		34,253		-		24,649
February	2021	US$	775		Class XVI		Fixed	9.00	%		2026		110,052		60,091		95,886		42,194
February	2021	US$	748		Class XVII		Fixed	9.00	%		2029		194,646		-		134,539		-
February	2021	US$	576		Class XVIII		Fixed	7.00	%		2033		141,769		2,701		96,356		1,836
February	2021	$	4,128		Class XIX		Fixed	3.50	%		2024		16,495		55		11,207		38
July ⁽²⁾	2021	US$	384		Class XX		Fixed	5.75	%		2032		98,550		2,453		68,029		1,724
January ⁽³⁾	2023	US$	230		Class XXI		Fixed	1.00	%		2026		58,778		148		-		-
January, April ⁽⁴⁾	2023	$	19,144		Class XXII		BADLAR + 3.0%	87.65	%		2024		15,871		3,030		-		-
April ⁽³⁾	2023	US$	147		Class XXIII		Fixed	0.00	%		2025		41,626		-		-		-
April ⁽³⁾	2023	US$	38		Class XXIV		Fixed	1.00	%		2027		9,623		17		-		-
June ⁽⁴⁾	2023	US$	263		Class XXV		Fixed	5.00	%		2026		67,256		87		-		-

													1,517,932		234,516		1,001,886		147,591


	For the six-month period ended June 30, 2023
	Upstream		Gas and Power		Industrialization		Commercialization		Central Administration and Others		Total
Diesel		-		-		9,960		700,325		-		710,285
Gasolines		-		-		1,990		362,241		-		364,231
Natural Gas ⁽¹⁾		-		53,961		-		141,750		-		195,711
Crude Oil		-		-		-		20,790		-		20,790
Jet fuel		-		-		13		107,345		-		107,358
Lubricants and by-products		-		-		-		62,375		-		62,375
Liquefied Petroleum Gas		-		-		-		44,664		-		44,664
Fuel oil		-		-		1,016		8,416		-		9,432
Petrochemicals		-		-		-		46,795		-		46,795
Fertilizers and crop protection products		-		-		-		52,132		-		52,132
Flours, oils and grains		-		-		-		30,006		-		30,006
Asphalts		-		-		147		19,007		-		19,154
Goods for resale at gas stations		-		-		-		14,920		-		14,920
Income from services		-		-		-		-		17,736		17,736
Income from construction contracts		-		-		-		-		16,287		16,287
Virgin naphtha		-		-		12,823		8,429		-		21,252
Petroleum coke		-		-		-		32,338		-		32,338
LNG Regasification		-		4,081		-		-		-		4,081
Other goods and services		18,473		20,899		4,233		17,570		31		61,206

		18,473		78,941		30,182		1,669,103		34,054		1,830,753


	For the six-month period ended June 30, 2023
	Production costs ⁽³⁾		Administrative expenses ⁽²⁾		Selling expenses			Exploration expenses		Total
Salaries and social security taxes		102,560		24,436		13,301			1,213		141,510
Fees and compensation for services		5,270		24,648		5,238			30		35,186
Other personnel expenses		28,979		3,477		1,458			99		34,013
Taxes, charges and contributions		15,005		2,188		87,387	⁽¹⁾		-		104,580
Royalties, easements and fees		108,967		-		176			236		109,379
Insurance		8,826		446		254			-		9,526
Rental of real estate and equipment		18,234		95		1,651			-		19,980
Survey expenses		-		-		-			1,748		1,748
Depreciation of property, plant and equipment		307,641		4,508		9,136			-		321,285
Amortization of intangible assets		3,035		1,409		41			-		4,485
Depreciation of right-of-use assets		22,395		9		1,247			-		23,651
Industrial inputs, consumable materials and supplies		56,754		567		1,521			49		58,891
Operation services and other service contracts		48,789		1,123		5,833			639		56,384
Preservation, repair and maintenance		155,128		4,171		5,065			147		164,511
Unproductive exploratory drillings		-		-		-			1,229		1,229
Transportation, products and charges		58,020		217		51,957			-		110,194
Provision for doubtful trade receivables		-		-		2,297			-		2,297
Publicity and advertising expenses		-		3,298		5,534			-		8,832
Fuel, gas, energy and miscellaneous		13,947		1,592		6,359			155		22,053

		953,550		72,184		198,455			5,545		1,229,734


	June 30, 2023		December 31, 2022
Non-current assets ⁽¹⁾		1,206,362		747,447
Current assets		41,551		27,740

Total assets		1,247,913		775,187

Non-current liabilities		79,092		52,133
Current liabilities		134,807		91,011

Total liabilities		213,899		143,144


	June 30, 2023
	Other receivables		Other receivables		Trade receivables		Investments in financial assets		Accounts payable
	Non-Current		Current		Current		Non-Current		Current
Joint Ventures:
YPF EE		-		1,078		2,528		899		10,346
Profertil		-		15		3,286		-		3,288
MEGA		-		-		17,826		-		54
Refinor		-		-		4,762		-		1,773
Y-GEN Eléctrica S.A.U. ⁽¹⁾		-		-		-		-		-
OLCLP		-		27		-		-		611
Sustentator		-		-		231		-		6
CT Barragán		-		-		2		-		-
OTA		-		-		-		-		512
OTC		-		-		-		-		91

		-		1,120		28,635		899		16,681

Associates:
CDS		-		-		2		-		-
YPF Gas		-		388		2,362		-		885
Oldelval		6,880		-		7		141		1,313
Termap		-		-		-		-		692
GPA		-		-		-		-		736
Oiltanking		-		-		2		764		637
Gas Austral		-		-		58		-		7

		6,880		388		2,431		905		4,270

		6,880		1,508		31,066		1,804		20,951