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Loans | 12 Months Ended
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Dec. 31, 2024
Text Block1 [Abstract] |
Loans | 22. LOANS
|  |  |  |  |  |  |  |  |  |  |  |  |  | 2024 |  | 2023 |  |  |  |  | 2022
|  | Interest rate (1) |  |  | Maturity |  |  | Non- current |  |  |  |  | Current |  |  |  | Non- current |  | Current |  |  |  |  | Non- current |  | Current
Pesos: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
NO |  |  |  |  |  |  | - |  |  |  |  |  |  |  | - |  |  |  | - |  |  |  |  |  |  |  | - |  |  |  |  |  | - |  |  |  | 60 |  |  |  |  |  |  |  | 64 |  |  |  | 5 |
Exports pre-financing (5) |  |  | 32.88% |  |  |  | - |  |  |  | 32.88% |  |  |  | 2025 |  |  |  | - |  |  |  |  |  |  |  | 31 |  |  |  |  |  | - |  |  |  | - |  |  |  |  |  |  |  | - |  |  |  | - |
Financial loans |  |  | 40.48% |  |  |  | - |  |  |  | 50.68% |  |  |  | 2025-2026 |  |  |  | 18 |  |  |  |  |  |  |  | 8 |  |  |  |  |  | 9 |  |  |  | 15 |  |  |  |  |  |  |  | 46 |  |  |  | 25 |
Account overdrafts |  |  |  |  |  |  | - |  |  |  |  |  |  |  | - |  |  |  | - |  |  |  |  |  |  |  | - |  |  |  |  |  | - |  |  |  | 56 |  |  |  |  |  |  |  | - |  |  |  | 71 |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 18 |  |  |  |  |  |  |  | 39 |  |  |  |  |  | 9 |  |  |  | 131 |  |  |  |  |  |  |  | 110 |  |  |  | 101 |
Currencies other than the peso: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
NO (2) (3) |  |  | 0.00% |  |  |  | - |  |  |  | 10.00% |  |  |  | 2025-2047 |  |  |  | 6,255 |  |  |  |  |  |  |  | 1,317 |  |  |  |  |  | 6,191 |  |  |  | 767 |  |  |  |  |  |  |  | 5,594 |  |  |  | 828 |
Exports pre-financing |  |  | 1.90% |  |  |  | - |  |  |  | 10.50% |  |  |  | 2025 |  |  |  | - |  |  |  |  |  |  |  | 383 |  |  | (4) |  |  | 102 |  |  |  | 545 |  |  |  | (4) |  |  |  | - |  |  |  | 22 |
Imports financing |  |  | 8.80% |  |  |  | - |  |  |  | 16.00% |  |  |  | 2025-2026 |  |  |  | 19 |  |  |  |  |  |  |  | 17 |  |  |  |  |  | - |  |  |  | - |  |  |  |  |  |  |  | - |  |  |  | 21 |
Financial loans |  |  | 6.00% |  |  |  | - |  |  |  | 14.10% |  |  |  | 2025-2030 |  |  |  | 718 |  |  |  | (6) |  |  |  | 76 |  |  |  |  |  | 380 |  |  |  | 65 |  |  |  |  |  |  |  | 244 |  |  |  | 168 |
Stock market promissory notes |  |  | 0.00% |  |  |  | - |  |  |  | 0.00% |  |  |  | 2025-2026 |  |  |  | 25 |  |  |  |  |  |  |  | 75 |  |  |  |  |  | - |  |  |  | - |  |  |  |  |  |  |  | - |  |  |  | - |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 7,017 |  |  |  |  |  |  |  | 1,868 |  |  |  |  |  | 6,673 |  |  |  | 1,377 |  |  |  |  |  |  |  | 5,838 |  |  |  | 1,039 |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 7,035 |  |  |  |  |  |  |  | 1,907 |  |  |  |  |  | 6,682 |  |  |  | 1,508 |  |  |  |  |  |  |  | 5,948 |  |  |  | 1,140 |
(1) | Nominal annual interest rate as of December 31, 2024.
(2) | Disclosed net of 18, 3 and 9 corresponding to YPF’s own NO repurchased through open market transactions, as of December 31, 2024, 2023 and 2022, respectively.
(3) | Includes 1,496, 1,327 and 523 as of December 31, 2024, 2023 and 2022, respectively, of nominal value that will be canceled in pesos at the applicable exchange rate in accordance with the terms of the series issued.
(4) | Includes 133 and 86 as of December 31, 2024 and 2023, respectively, of pre-financing of exports granted by BNA.
(5) | Corresponds to pre-financing of exports in pesos granted by BNA.
(6) | Includes 28 of loans granted by BNA as of December 31, 2024.
Set forth below is the evolution of the loans for the fiscal years ended December 31, 2024, 2023 and 2022:
|  | 2024 |  | 2023 |  | 2022
Balance at the beginning of the year |  |  | 8,190 |  |  |  | 7,088 |  |  |  | 7,379 |
Proceeds from loans |  |  | 2,967 |  |  |  | 2,667 |  |  |  | 402 |
Payments of loans |  |  | (2,102) |  |  |  | (1,396) |  |  |  | (780) |
Payments of interest |  |  | (707) |  |  |  | (623) |  |  |  | (543) |
Account overdrafts, net |  |  | (48) |  |  |  | (3) |  |  |  | 71 |
Accrued interest (1) |  |  | 680 |  |  |  | 702 |  |  |  | 680 |
Net exchange and translation differences |  |  | (30) |  |  |  | (239) |  |  |  | (113) |
Result from net monetary position (2) |  |  | (1) |  |  |  | (6) |  |  |  | (8) |
Reclassifications (3) |  |  | (7) |  |  |  | - |  |  |  | - |
Balance at the end of the year |  |  | 8,942 |  |  |  | 8,190 |  |  |  | 7,088 |
(1) | Includes capitalized financial costs.
(2) | Includes the adjustment for inflation of opening balances of loans of subsidiaries with the peso as functional currency which was charged to “Other comprehensive income” in the statement of comprehensive income and the adjustment for inflation of the fiscal year which was charged to net profit or loss in the statement of comprehensive income.
(3) | Corresponds to the balances of our subsidiary YPF Brasil reclassified to the “Assets held for sale” line item in the statement of financial position, see Note 3 “Sale of equity participation in YPF Brasil” section.
On August 29, 2024, the Company announced an offer for the purchase of Class XXXIX and Class LIII NO due July 28, 2025 and July 21, 2027, respectively, for principal amount of 500, having received and accepted purchase orders for 334 of Class XXXIX NO and for 166 of Class LIII NO, which were completely cancelled as of September 16, 2024 plus the corresponding interest. On September 5, 2024, the Company announced an exchange offer for Class XXXIX NO due July 2025 by offering additional Class XXXI NO, denominated and payable in U.S. dollars at a fixed rate of 8.75% maturing in September 2031 for a notional amount of up to 500, extendable up to the maximum authorized amount. Having received offers for 40 on September 20, 2024, the Company canceled 40 of Class XXXIX NO offered in exchange and issued additional new Class XXXI NO for an equivalent amount. Details regarding the NO of the Group are as follows:
|  |  |  |  |  |  |  |  |  |  |  |  | 2024 |  | 2023 |  |  |  |  | 2022
Month |  | Year |  |  | Principal value (11) |  |  | Ref. |  |  | Class |  |  | Interest rate (3) |  |  | Principal maturity |  | Non- current |  | Current |  | Non- current |  | Current |  |  |  |  | Non- current |  | Current
YPF |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
- |  |  | 1998 |  |  | U.S. dollar |  |  | 15 |  |  |  | (1) (6) |  |  |  | - |  |  |  | Fixed |  |  |  | 10.00% |  |  | 2028 |  |  | 15 |  |  |  | - |  |  |  | 15 |  |  |  | - |  |  |  |  |  |  |  | 15 |  |  |  | - |
April, February, October |  |  | 2014/15/16 |  |  | U.S. dollar |  |  | 521 |  |  |  | (2) (4) (6) |  |  |  | Class XXVIII |  |  |  | - |  |  |  | - |  |  | - |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 354 |  |  |  |  |  |  |  | 346 |  |  |  | 273 |
September |  |  | 2014 |  |  | Peso |  |  | 1,000 |  |  |  | (2) (6) (7) |  |  |  | Class XXXIV |  |  |  | - |  |  |  | - |  |  | - |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (12) |  |  |  | 1 |  |  |  | 1 |
April |  |  | 2015 |  |  | U.S. dollar |  |  | 757 |  |  |  | (2) (6) |  |  |  | Class XXXIX |  |  |  | Fixed |  |  |  | 8.50% |  |  | 2025 |  |  | - |  |  |  | 785 |  |  |  | 1,132 |  |  |  | 41 |  |  |  |  |  |  |  | 1,132 |  |  |  | 41 |
October |  |  | 2015 |  |  | Peso |  |  | 2,000 |  |  |  | (2) (6) (7) |  |  |  | Class XLIII |  |  |  | - |  |  |  | - |  |  | - |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  |  |  |  |  | - |  |  |  | 4 |
July, December |  |  | 2017 |  |  | U.S. dollar |  |  | 644 |  |  |  | (2) (6) |  |  |  | Class LIII |  |  |  | Fixed |  |  |  | 6.95% |  |  | 2027 |  |  | 649 |  |  |  | 19 |  |  |  | 816 |  |  |  | 25 |  |  |  |  |  |  |  | 818 |  |  |  | 25 |
December |  |  | 2017 |  |  | U.S. dollar |  |  | 537 |  |  |  | (2) (6) |  |  |  | Class LIV |  |  |  | Fixed |  |  |  | 7.00% |  |  | 2047 |  |  | 530 |  |  |  | 1 |  |  |  | 530 |  |  |  | 1 |  |  |  |  |  |  |  | 529 |  |  |  | 1 |
June |  |  | 2019 |  |  | U.S. dollar |  |  | 399 |  |  |  | (6) (9) |  |  |  | Class I |  |  |  | Fixed |  |  |  | 8.50% |  |  | 2029 |  |  | 398 |  |  |  | - |  |  |  | 397 |  |  |  | - |  |  |  |  |  |  |  | 397 |  |  |  | - |
July |  |  | 2020 |  |  | U.S. dollar |  |  | 341 |  |  |  | (6) (9) |  |  |  | Class XIII |  |  |  | Fixed |  |  |  | 8.50% |  |  | 2025 |  |  | - |  |  |  | 44 |  |  |  | 43 |  |  |  | 88 |  |  |  |  |  |  |  | 127 |  |  |  | 90 |
December, February |  |  | 2020/21 |  |  | U.S. dollar |  |  | 133 |  |  |  | (5) (6) (9) |  |  |  | Class XIV |  |  |  | - |  |  |  | - |  |  | - |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  |  |  |  |  | - |  |  |  | 139 |
February |  |  | 2021 |  |  | U.S. dollar |  |  | 776 |  |  |  | (6) (9) |  |  |  | Class XVI |  |  |  | Fixed |  |  |  | 9.00% |  |  | 2026 |  |  | 58 |  |  |  | 243 |  |  |  | 307 |  |  |  | 235 |  |  |  |  |  |  |  | 542 |  |  |  | 238 |
February |  |  | 2021 |  |  | U.S. dollar |  |  | 748 |  |  |  | (6) (9) |  |  |  | Class XVII |  |  |  | Fixed |  |  |  | 9.00% |  |  | 2029 |  |  | 756 |  |  |  | - |  |  |  | 758 |  |  |  | - |  |  |  |  |  |  |  | 760 |  |  |  | - |
February |  |  | 2021 |  |  | U.S. dollar |  |  | 576 |  |  |  | (6) (9) |  |  |  | Class XVIII |  |  |  | Fixed |  |  |  | 7.00% |  |  | 2033 |  |  | 555 |  |  |  | 11 |  |  |  | 553 |  |  |  | 11 |  |  |  |  |  |  |  | 544 |  |  |  | 10 |
February |  |  | 2021 |  |  | Peso |  |  | 4,128 |  |  |  | (6) (9) (10) |  |  |  | Class XIX |  |  |  | - |  |  |  | - |  |  | - |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 35 |  |  |  |  |  |  |  | 63 |  |  |  | - |
July |  |  | 2021 |  |  | U.S. dollar |  |  | 384 |  |  |  | (4) (5) (6) (9) |  |  |  | Class XX |  |  |  | Fixed |  |  |  | 5.75% |  |  | 2032 |  |  | 384 |  |  |  | 10 |  |  |  | 384 |  |  |  | 10 |  |  |  |  |  |  |  | 384 |  |  |  | 11 |
January |  |  | 2023 |  |  | U.S. dollar |  |  | 230 |  |  |  | (5) (6) (9) |  |  |  | Class XXI |  |  |  | Fixed |  |  |  | 1.00% |  |  | 2026 |  |  | 220 |  |  |  | - |  |  |  | 229 |  |  |  | 1 |  |  |  |  |  |  |  | - |  |  |  | - |
January, April |  |  | 2023 |  |  | Peso |  |  | 15,761 |  |  |  | (6) (9) |  |  |  | Class XXII |  |  |  | - |  |  |  | - |  |  | - |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 25 |  |  |  |  |  |  |  | - |  |  |  | - |
April |  |  | 2023 |  |  | U.S. dollar |  |  | 147 |  |  |  | (5) (6) (9) |  |  |  | Class XXIII |  |  |  | Fixed |  |  |  | 0.00% |  |  | 2025 |  |  | - |  |  |  | 150 |  |  |  | 158 |  |  |  | - |  |  |  |  |  |  |  | - |  |  |  | - |
April |  |  | 2023 |  |  | U.S. dollar |  |  | 38 |  |  |  | (5) (6) (9) |  |  |  | Class XXIV |  |  |  | Fixed |  |  |  | 1.00% |  |  | 2027 |  |  | 37 |  |  |  | - |  |  |  | 38 |  |  |  | - |  |  |  |  |  |  |  | - |  |  |  | - |
June |  |  | 2023 |  |  | U.S. dollar |  |  | 263 |  |  |  | (6) (9) |  |  |  | Class XXV |  |  |  | Fixed |  |  |  | 5.00% |  |  | 2026 |  |  | 263 |  |  |  | 1 |  |  |  | 262 |  |  |  | 1 |  |  |  |  |  |  |  | - |  |  |  | - |
September |  |  | 2023 |  |  | U.S. dollar |  |  | 400 |  |  |  | (4) (5) (9) (6) |  |  |  | Class XXVI |  |  |  | Fixed |  |  |  | 0.00% |  |  | 2028 |  |  | 400 |  |  |  | - |  |  |  | 400 |  |  |  | - |  |  |  |  |  |  |  | - |  |  |  | - |
October |  |  | 2023 |  |  | U.S. dollar |  |  | 128 |  |  |  | (5) (9) (6) |  |  |  | Class XXVII |  |  |  | Fixed |  |  |  | 0.00% |  |  | 2026 |  |  | 147 |  |  |  | - |  |  |  | 169 |  |  |  | - |  |  |  |  |  |  |  | - |  |  |  | - |
January |  |  | 2024 |  |  | U.S. dollar |  |  | 800 |  |  |  | (6) (9) |  |  |  | Class XXVIII |  |  |  | Fixed |  |  |  | 9.50% |  |  | 2031 |  |  | 790 |  |  |  | 35 |  |  |  | - |  |  |  | - |  |  |  |  |  |  |  | - |  |  |  | - |
May |  |  | 2024 |  |  | U.S. dollar |  |  | 178 |  |  |  | (6) (9) |  |  |  | Class XXIX |  |  |  | Fixed |  |  |  | 6.00% |  |  | 2026 |  |  | 177 |  |  |  | 1 |  |  |  | - |  |  |  | - |  |  |  |  |  |  |  | - |  |  |  | - |
July |  |  | 2024 |  |  | U.S. dollar |  |  | 185 |  |  |  | (5) (9) (6) |  |  |  | Class XXX |  |  |  | Fixed |  |  |  | 1.00% |  |  | 2026 |  |  | 187 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  |  |  |  |  | - |  |  |  | - |
September |  |  | 2024 |  |  | U.S. dollar |  |  | 540 |  |  |  | (9) |  |  |  | Class XXXI |  |  |  | Fixed |  |  |  | 8.75% |  |  | 2031 |  |  | 539 |  |  |  | 15 |  |  |  | - |  |  |  | - |  |  |  |  |  |  |  | - |  |  |  | - |
October |  |  | 2024 |  |  | U.S. dollar |  |  | 125 |  |  |  | (9) |  |  |  | Class XXXII |  |  |  | Fixed |  |  |  | 6.50% |  |  | 2028 |  |  | 125 |  |  |  | 2 |  |  |  | - |  |  |  | - |  |  |  |  |  |  |  | - |  |  |  | - |
October |  |  | 2024 |  |  | U.S. dollar |  |  | 25 |  |  |  | (9) |  |  |  | Class XXXIII |  |  |  | Fixed |  |  |  | 7.00% |  |  | 2028 |  |  | 25 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  |  |  |  |  | - |  |  |  | - |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 6,255 |  |  |  | 1,317 |  |  |  | 6,191 |  |  |  | 827 |  |  |  |  |  |  |  | 5,658 |  |  |  | 833 |
(1) | Corresponds to the 1997 MTN Program for an amount up to 1,000.
(2) | Corresponds to the 2008 MTN Program for an amount up to 10,000.
(3) | Nominal annual interest rate as of December 31, 2024.
(4) | The ANSES and/or the “Fondo Argentino de Hidrocarburos” have participated in the primary subscription of these NO, which may at the discretion of the respective holders, be subsequently traded on the securities market where these NO are authorized to be traded.
(5) | The payment currency of these NO is the peso at the exchange rate applicable under the terms of the series issued.
(6) | As of the date of issuance of these financial statements, the Group has fully complied with the use of proceeds disclosed in the corresponding pricing supplements.
(7) | NO classified as productive investments computable as such for the purposes of item 35.8.1, paragraph K of the General Regulations applicable to Insurance Activities issued by the Argentine Insurance Supervisory Bureau.
(8) | The payment currency of this issue is the U.S. dollar at the exchange rate applicable in accordance with the conditions of the relevant issued series.
(9) | Corresponds to the Frequent Issuer Regime.
(10) | The payment currency of this issue is the peso at the UVA value applicable in accordance with the conditions of the relevant issued series.
(11) | Total nominal value issued without including the nominal values canceled through exchanges or repurchases, expressed in millions.
(12) | The registered amount is less than 1.

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