Eni S.p.A
(NYSE:E)

Franklin Resources, Inc. is a publicly owned asset management holding company. Through its subsidiaries, the firm provides its services to individuals, institutions, pension plans, trusts, and partnerships. It launches equity, fixed income, balanced, and multi-asset mutual funds through its subsidia...

Website: http://www.eni.com

Founded: 1953

Full Time Employees: 32,053

Sector: Energy

Industry: Oil & Gas Integrated

Energy Natural Gas

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• Market Cap:

• Exchange:

• Shs Outstanding:

• Employees:

• Beta:

• Return on Equity (ROE) ttm:

• Return on Assets (ROA) ttm:

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• Number of Analysts:

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• Total Net Debt:

At a glance:

Bull Thesis:

Bear Thesis:

Main Competitors:

Moat:

Income Statements:

Quarterly

Annual

Unit: USD	2025-04-24	2025-03-18	2024-03-14	2023-10-27	2023-07-28	2023-03-16	2022-03-18	2021-03-19	2019-03-31	2018-07-31	2018-03-31	2017-08-31	2016-10-31	2016-07-01	2016-03-31	2015-12-31	2015-10-31	2015-07-31	2015-03-31	2014-12-31	2014-10-31	2013-12-31	2013-10-31	2013-03-31	2012-12-31	2012-08-01	2012-06-06	2012-03-31	2011-07-31	2011-03-31	2010-12-31	2010-08-31	2010-07-31	2009-12-31	2009-08-31	2009-07-31	2008-08-31	2007-12-31	2007-09-30	2006-12-31	2006-09-30	2005-06-01	2005-03-31	2004-09-30	2004-07-30	2004-03-31	2003-12-31	2003-10-08	2003-08-05	2003-06-04	2003-04-04	2002-12-31	2002-11-30	2002-09-30	2002-07-30	2002-03-27	2002-02-27

23,488	22,565
484	399
23,972	22,964
purchases, services and other	-17,760	-71,114	-73,836	-16,944	-15,131	-102,282	-55,549	-33,551	-55,622			26,066																																		34,566
impairment reversals (impairment losses) of trade and other receivables	-92	-168	-249		48	47	-279	-226	-415
payroll and related costs	-870	-3,262	-3,136	-663	-746	-3,015	-2,888	-2,863	-3,093			1,562																																		3,166										-228
other operating income	274	-352	478		85	-1,736	903	-766	129	89		17
depreciation, depletion and amortization	-1,873	-7,600	-7,479	-1,769	-1,873	-7,205	-7,063	-7,304	-6,988	-3,606
impairment reversals (impairment losses) of tangible, intangible and right of use assets	-318	-2,900	-1,802	-36	-330	-1,140	-167	-3,183
write-off of tangible and intangible assets	3	-580	-535	-85	-103	-599	-387	-329	-100			193
operating profit	2,328	5,238	8,257			17,510	12,341	-3,275	9,983	5,038	8,012	2,674
yoy		-70.09%	-33.09%			247.56%	54.03%	-222.48%
qoq	-55.56%	-36.56%				41.88%	-476.82%	-132.81%	98.15%	-37.12%	199.63%
operating margin %	Infinity%	5.74%	8.71%	NaN%	NaN%	13.12%	15.87%	-7.29%	12.98%	Infinity%	11.29%	Infinity%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	0%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	0%	NaN%
3,235	2,248
finance expense	-2,487	-8,980	-8,113	-2,126	-1,371	-9,333	-4,216	-4,958	-4,663			-3,230
69	57
252	-67
65	-249
75	346
277	5
352	351
44	2,430												58																																										-15
244	-1,235
288	1,195
attributable to:
230	1,172
58	23
earnings per share																																														1.48
0.06	0.36
weighted-average number of shares outstanding
3,115.9	3,062.7
3,179.2	3,126
sales from operations		88,797	93,717			132,265	76,575	43,987
other income and revenues		2,417	1,099			1,175	1,196	960	1,116	838	4,058	626																																		913				151						73
total revenues		91,214	94,816			133,440	77,771	44,947	76,938		70,977																																			52,400										3,916
yoy		-31.64%	21.92%				9.57%
qoq		-3.80%				71.58%	73.03%	-41.58%
finance income		7,715	7,417	-120	-119	8,450	3,723	3,531	3,967	-621	3,924	2,272
net finance income from financial assets measured at fair value through profit or loss		388	284			-55
derivative financial instruments		278	-61		4	13	-306	351	-307		837	524
share of profit of equity-accounted investments		866	1,336			1,841	-1,091	-1,733	-68
other gain from investments		984	1,108			3,623	223	75	1,163		335	62
income from investments		1,850	2,444			5,464	-868	-1,658
profit before income taxes		6,489	10,228			22,049	10,685	-5,978	10,107	4,891	6,844	2,336
income taxes		-3,725	-5,368	-1,503	-1,743	-8,088	-4,845	-2,650	-5,970	-2,686		-1,351																																		-3,241				-1,384						-451
net profit		2,764	4,860			13,961	5,840	-8,628	4,137	2,205	3,377
- eni's shareholders		2,624	4,771			13,887	5,821	-8,635	4,126
- non-controlling interest		140	89			74	19	7	11
- basic		0.79	1.41			3.96	1.61	-2.42	1.15		0.94
- diluted		0.78	1.4			3.95	1.6	-2.41	1.15		0.94
19,591				22,319
221				331
19,812				22,650
48				-50																																																			73
85				23
1,762				3,126
1,189				1,874
59				128
4				4
333				357
81				75										-135
414				432
2,057				3,438
314				1,935
294				1,916
20				19
0.08				0.57
3,338.0				3,290.2
3,344.3				3,300
27,185					19,591
193					221
27,378					19,812
2,513					1,762
2,007					1,189
66					59
358					333
834					81
1,192					414
3,581					2,057
2,407					314
2,388					294
19					20
0.71					0.08
0.70					0.08
3,345.4					3,338
3,351.7					3,344.3
net finance income from financial assets held for trading							11	31				-51
revenues
net sales from operations									75,822	36,071	66,919	33,690																																		51,487				14,359						3,843
costs
impairment reversals (impairment losses), net of tangible and intangible assets									-866
income from financial assets held for trading									32
net profit per share attributable to eni's shareholders
operating expenses										-28,231																																								-10,003
impairments losses (impairment reversals)										-102
write-off										-21
net income from investments										474																																								27
tax rate										54.9
eni's shareholders										2,198
non-controlling interest										7
exclusion of inventory holding (gains) losses										-354
exclusion of special items										260
adjusted operating profit										4,944
breakdown by segment:
exploration & production										4,827
gas & power										430
refining & marketing and chemicals										144
corporate and other activities										-331
impact of unrealized intragroup profit elimination and other consolidation adjustments										-126
net profit attributable to eni's shareholders										2,198
adjusted net profit attributable to eni's shareholders										1,745
impairment reversals (impairment losses)											225
income from other financial activities held for trading
net profit - continuing operations											3,377
net profit - discontinued operations
eni's shareholders:
- continuing operations											3,374
- discontinued operations
non controlling interest
net profit per share - continuing operations attributable to eni's shareholders
depreciation and amortization												3,777
net impairments/reversal												61
share of profit from equity-accounted investments												85
net profit for the period - continuing operations												985
net profit for the period - discontinued operations
net profit for the period												985
attributable to eni
continuing operations												983
discontinued operations
attributable to non-controlling interest
earnings per share attributable to eni
basic												0.27
diluted												0.27
earnings per share attributable to eni - continuing operations
16,014													13,416
31													295																																				-34
16,045													13,711
12,667													10,769
794													736
(82													118
2,252													2,018
2													86
248													220
1,227													1,357
(1,754													-1,343
(5													-16
289													-151
(243													-153
(56													26
100													32
49													125																															347
(792													-569
(743													-444
(7																																																						50			-55
(750													-444
(783													-446
(790													-446
40													2
(0.22													-0.12
(0.21													-0.12
20,279														13,344
118														207																														55
(15,795														-11,459
(276														-117
(2,602														-1,835
(119														-35
1,605														105
176														20
1,862														-10
(1,007														-370
54.1
855														-380
(1,400														-413
(545														-793
(97														-796
498														-383
(595														-413
(448														3
357														3
(805
(46														224
174														182
626														23
(121
505														23
second quarter 2016
reported operating profit
exclusion of special items:
environmental charges
asset impairments
net gains on disposal of assets
benefit from redundancy incentives
commodity derivatives
exchange rate differences and derivatives
other
special items of operating profit
net finance
adjusted net profit
of which:
- adjusted net profit of non-controlling interest
- adjusted net profit attributable to eni's shareholders
reported net profit attributable to eni's shareholders
67,810																																												36,065
(48																																												94
1,150																																												943
1,527																																												618
949																																												557
71,388																																												38,277
26,449																																												14,818
10,431																																												5,034
1,407																																												749
3,353																																												1,692
4,713																																												2,232
563																																												211
38																																												164
342																																												240
14,371																																												7,230
61,785																																												32,425
9,603																																												5,852
72																																												88
465																																												252
743																																												351
(206																																												-42
194																																												113
245																																												34
(51																																												79
514																																												201
9,395																																												6,236
3,241																																												2,490
6,154																																												3,746
(569																																												-322
5,585																																												3,424
1.48 euro																																												0.91
7.39 euro																																												4.54
11,578																																													13,528
263																																													375
(8,644																																													-10,053
(1,418																																													-1,241
1,779																																													2,609
(9																																													-15
53																																													126
1,823																																													2,720
(36																																													-152												-149
1,787																																													2,568
(556																																													-1,132
1,231																																													1,436
(147																																													-157
1,084																																													1,279
second quarter
2003																																													2,004
1,175																																													1,790
539																																													595
208																																													205
(34																																													50
79																																													67
(128																																													-30
(60																																													-68
revenues:
operating expenses:
depreciation, amortization and writedowns																																														5,151				-1,174						-473
operating income																																														9,517				3,333						2,225
interest and other income:
financial expense and exchange differences																																														-154
other income from investments																																														-17
total interest and other income																																														-171
income before extraordinary income and income taxes																																														9,346
extraordinary income																																														49
income before income taxes																																														9,395				3,520
income before minority interest																																														6,154				2,136
minority interest in net income																																														-569
net income																																														5,585				2,006						2,250
yoy																																														178.41%
qoq
net income margin %	NaN%	0%	0%	NaN%	NaN%	0%	0%	0%	0%	NaN%	0%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	10.66%	NaN%	NaN%	NaN%	Infinity%	NaN%	NaN%	NaN%	NaN%	NaN%	57.46%	NaN%
earnings per ads																																														7.39
47,922																																																25,937
1,080																																																414
(34,996																																																-18,647
(5,504																																																-2,592
8,502																																																5,112
(167																																																-40
43																																																80
8,378																																																5,152
(29																																																155
8,349																																																5,307
(3,127																																																-1,940
5,222																																																3,367
(629																																																-277
4,593																																																3,090
-
11,199																																																	11,578
350																																																	263
(8,319																																																	-8,644
(1,355																																																	-1,418
1,875																																																	1,779
(4																																																	-9
47																																																	53
1,918																																																	1,823
1,832																																																	1,787
(819																																																	-556
1,013																																																	1,231
(134																																																	-147
879																																																	1,084
2002																																																	2,003
1,228																																																	1,175
577																																																	539
60																																																	208
73																																																	79								113
(55																																																	-128
(39																																																	-60
gross operating margin																																																		4,507						2,698
net financial expense																																																		-31
income before extraordinary items and income taxes																																																		3,329						2,678
net extraordinary income																																																		191						79
minority interest																																																		-130
non-recurring items																																																		105
net income before non-recurring items																																																		1,901
•
usd
50,246																																																			47,922
1,132																																																			1,080
51,379																																																			49,002
33,440																																																			31,893
3,253																																																			3,103
14,685																																																			14,006
5,771																																																			5,504
8,914																																																			8,502
(175																																																			-167
45																																																			43
(130																																																			-124
8,784																																																			8,378
(30																																																			-29
8,754																																																			8,349
(3,279																																																			-3,127
5,475																																																			5,222
(660																																																			-629
4,816																																																			4,593
1.26																																																			1.2
6.29																																																			6
10,682																																																				8,674.75	10,795
211																																																				179	181
(8,063																																																				-6,293.5	-7,851
2,830																																																				2,560.25	3,125
(1,186																																																				-953	-1,271
1,644																																																				1,607.25	1,854
(89																																																				-61.25	-164
(21																																																				21.5	36
1,534																																																				1,567.5	1,726
(28																																																				7.25	122
1,506																																																				1,574.75	1,848
(481																																																				-661.5	-824
1,025																																																				913.25	1,024
(171																																																				-117.75	-103
854																																																				795.5	921
(90																																																				-37.25	62
944																																																				832.75	859
third quarter
2001																																																				500.5	2,002		2,002
1,144																																																				960.5	1,327
339																																																				594.5	375
266																																																				61	122
(124																																																				-41.75	-26
52																																																				58	73
(33																																																				-25	-17
(41																																																				-18.75	-47
1,685																																																				1,626	1,901
49,272																																																						23,904
921																																																						535
(35,037																																																						-17,323
15,156																																																						7,116
(4,843																																																						-2,541
10,313																																																						4,575
(295																																																						-81
10,011																																																						4,544
1,737																																																						-93
11,748																																																						4,451
(3,529																																																						-1,822
8,219																																																						2,629
(468																																																						-368
7,751																																																						2,261
1,994																																																						-211
5,757																																																						2,472
12,136																																																							11,199
142																																																							350
3,562																																																							3,230
2,413																																																							1,875
1,510																																																							1,228
596																																																							577
372																																																							60
2,369																																																							1,890
purchases, services and other costs																																																								-990
net financial income																																																								48
net income on investments																																																								405
income before income taxes and new accounting standard																																																								2,757
effect of new accounting standard
tax credits on dividends																																																								213
adjustment related to laws																																																								-269
net cash from operating activities																																																								8,248
capital expenditure																																																								5,483
investments																																																								114
shareholders’ equity including minority interest																																																								19,749
net borrowings																																																								6,267
net capital employed																																																								26,016
dividend																																																								0.181
pay-out																																																								50.6
return on average capital employed																																																								12.5
leverage																																																								0.32
14,635																																																									12,557
488																																																									328
(10,544																																																									-8,922
4,579																																																									3,963
(1,156																																																									-1,375
3,423																																																									2,588
fourth quarter
2000																																																									2,001
2,192																																																									1,355
882																																																									1,240
1																																																									31
318																																																									53

Balance Sheets:

Quarterly

Annual

Unit: USD	2025-06-30	2024-06-30	2024-04-24	2023-10-27	2023-08-04	2023-06-30	2020-08-31	2019-12-31	2019-03-31	2017-12-31	2016-07-01	2009-12-31	2004-09-30	2004-03-31	2003-12-31	2003-06-30	2003-03-31	2002-12-31	2002-04-04	2001-06-30

note
assets
current assets
cash and cash equivalents	9,167	10,180				11,417				7,363								3,265
financial assets at fair value through profit or loss	6,857	7,254				8,283
other current financial assets	572	623				849
trade and other receivables	13,214	15,607				14,845				15,737
inventories	5,798	6,679	6,186	6,883	6,074	6,074			4,630	4,621	4,013
income tax receivables	771	527				644
other current assets	4,458	4,668				6,185				1,573
non-current assets
property, plant and equipment	52,910	58,069	56,299	58,249	57,289	57,289			61,795	63,158	66,426
right-of-use assets	5,275	4,875				4,233
intangible assets	6,421	6,475	6,379	5,431	5,499	5,499			3,180	2,925	2,961		3,490,000,000	295	3,610		3,610	3,175
inventory - compulsory stock	1,379	1,587				1,397
equity-accounted investments	12,864	13,225				13,022				3,511
other investments	1,360	1,322				1,265				219
other non-current financial assets	3,337	2,622				2,043
deferred tax assets	6,072	4,343				4,509				4,078
other non-current assets	2,734	3,984				2,365				1,323
assets held for sale	2,897	5,091				391				323
total assets	136,210	147,273				140,420				114,928			68,662,000,000		67,336		67,336
liabilities and equity
current liabilities
short-term debt	4,545	4,733				2,610				2,242			6,995,000,000		7,428		7,428	7,890
current portion of long-term debt	4,760	3,621				4,084				2,286			775,000,000		490		490	980
current portion of long-term lease liabilities	1,123	1,132				853
trade and other payables	18,386	19,339				17,466				16,748
income tax payables	416	1,242				1,775
other current liabilities	5,268	5,489				6,806				1,515
non-current liabilities
long-term debt	19,855	23,392				22,043				20,179			7,831,000,000		8,336		8,336	6,550
long-term lease liabilities	4,585	4,209				3,873
provisions	14,433	15,509	-15,533	-15,196	-15,198	15,198			-11,922		-13,966
provisions for employee benefits	687	754	-748	-714	-783	783				1,022
deferred tax liabilities	5,212	5,300				5,565				5,900
other non-current liabilities	3,149	4,397				3,410				1,479
liabilities directly associated with assets held for sale	358	2,895				213				87
total liabilities	82,805	92,054				84,892				66,849			39,114,000,000		39,018		39,018	37,457
share capital	4,005	4,005				4,005				4,005
retained earnings	35,430	35,462				35,429
cumulative currency translation differences	2,266	6,939				6,570
other reserves and equity instruments	7,957	7,585				7,395
treasury shares	-1,635	-1,505				-974				-581			-3,206,000,000		-3,164		-3,164	-2,838
profit	1,715	1,872				2,682
equity attributable to equity holders of eni	49,738	54,358				55,107
non-controlling interest	3,667	861	460	437	421	421			60	49	47
total equity	53,405	55,219				55,528
total liabilities and equity	136,210	147,273				140,420
the effects of the definitive purchase price allocation relating to the 2024 business combinations are disclosed in note 23 - other information.
fixed assets
right of use			4,834	4,366	4,233				5,604
inventories - compulsory stock			1,576	1,630	1,397				1,465		871
equity-accounted investments and other investments			13,886	14,740	14,287				7,173		4,782
receivables financing and securities held for operating purposes			996
net payables related to capital expenditure			-2,031	-2,347	-2,580				-2,531		-1,406
83,278			81,939
net working capital														3,500
trade receivables			13,184	11,394	10,644				11,797		12,771
trade payables			-14,231	-11,517	-11,122				-12,060		-9,697
net tax assets			-2,112	-3,544	-3,866
other current assets and liabilities			-892	-1,344	355				-11		1,493
assets held for sale including related liabilities			747	648	178				225
capital employed			68,540	70,862	68,469				67,272		65,101
eni's shareholders equity			53,184	56,847	55,107				52,716
shareholders' equity			53,644	57,284	55,528				52,776
net borrowings before lease liabilities ex ifrs 16			9,560	8,679	8,215				8,678
lease liabilities			5,336	4,899	4,726				5,818
- of which eni working interest			4,856	4,440	4,247				3,811
- of which joint operators' working interest			480	459	479				2,007
net borrowings after lease liabilities ex ifrs 16			14,896	13,578
total liabilities and shareholders' equity			68,540	70,862	68,469				67,272	114,928	65,101
leverage before lease liabilities ex ifrs 16				0.15
leverage after lease liabilities ex ifrs 16				0.24
gearing				0.19	0.19		34		0.22
·
receivables and securities held for operating purposes				2,183	2,062				1,367		2,233
fixed assets - sum				84,252	82,187
net working capital - sum				-13,324	-13,113
net borrowings post lease liabilities ex ifrs 16					12,941
leverage before lease liability ex ifrs 16					0.15		37		0.16
leverage after lease liability ex ifrs 16					0.23		51		0.27
sales from operations							22,030
operating profit							-3,775
adjusted operating profit							873
adjusted net profit							-655
per share							-0.18
per adr							-0.4
net profit							-7,335			3,374
comprehensive income							-7,533
net cash flow from operating activities							2,378
net cash from operations at replacement cost							3,258
capital expenditure							2,568
of which: exploration							247
hydrocarbons development							1,740
total assets at period end							115,085
shareholders' equity including non-controlling interests at period end							38,839
net borrowings at period end after lease liability ex ifrs 16							19,971
net borrowings at period end before lease liability ex ifrs 16							14,329
net capital employed at period end							58,810
of which: exploration & production							50,083
gas & power							2,344
refining & marketing and chemicals							8,966
coverage							-7.2
current ratio							1.2
debt coverage							11.9
share price at period end							8.49
weighted-average number of shares outstanding							3,575.4
market capitalization							30.9
(a) non-gaap measure.
(b) attributable to eni’s shareholders.
(c) fully diluted. ratio of net profit/cash flow and average number of shares outstanding in the period. dollar amounts are converted on the basis of the average eur/usd exchange rate quoted by reuters (wmr) for the period presented.
(d) one american depositary receipt (adr) is equal to two eni ordinary shares.
(e) number of outstanding shares by reference price at period end.
								5,994		36,433
tax payables and provisions for, net deferred tax liabilities									-2,262
provisions for employee post-retirements benefits									-1,178
net borrowings									14,496		12,222			3,322
financial assets held for trading										6,012
financial assets available for sale										207
current tax assets										191
other current tax assets										729
inventory – compulsory stock										1,283
other financial assets										1,675
liabilities and shareholders' equity
income tax payable										472
other tax payable										1,472
provisions for contingencies										13,447
eni shareholders' equity
reserve related to cash flow hedging derivatives net of tax effect										183
other reserves										42,490
interim dividend										-1,441
total eni shareholders' equity										48,030
total shareholders' equity										48,079
tax payables and provisions for net deferred tax liabilities											-4,347
provisions for employee post-retirement benefits											-1,122
discontinued operations and assets held for sale including related liabilities											89
eni shareholders’ equity											52,832
shareholders’ equity											52,879			24,402
leverage											0.23
second quarter
2015
855
2,863
(28
949
449
(1,170
3,918
(614
3,304
(3,150
(118
(3,268
(47
97
220
306
197
(267
(2,019
(21
(1,804
3,565
cash and cash equivalent													1,800,000,000				1,623
marketable securities													1,332,000,000		1,277		1,277
receivables													12,289,000,000		13,802		13,802	13,530
inventories, net:
- crude oil, natural gas and petroleum products													1,545,000,000
- chemical products													627,000,000
- work in progress long-term contracts													424,000,000
- other													597,000,000
total inventories													3,193,000,000		3,293		3,293
accrued interest and other													452,000,000		533		533	573
total current assets													19,066,000,000		20,528		20,528
fixed assets, net of accumulated depreciation, amortization and writedowns													38,383,000,000				36,360	33,693
investments													3,251,000,000	21,124	3,160		3,160	2,779
other													1,981,000,000		571		571	573
total non-current assets													49,596,000,000		46,808		46,808
liabilities and shareholders’ equity
trade accounts payable													5,322,000,000		5,887		5,887	5,537
advances													1,421,000,000		1,551		1,551	1,457
taxes payable													2,133,000,000		2,183		2,183	1,791
accrued expenses and other													3,913,000,000		3,841		3,841	3,937
total current liabilities													20,559,000,000		21,380		21,380
reserve for employee termination indemnities													570,000,000	-158	555		555	507
reserves for contingencies													5,972,000,000		5,708		5,708	5,522
deferred and other non-current income tax liabilities													3,444,000,000		2,442		2,442	2,611
total non-current liabilities													18,555,000,000		17,638		17,638	15,865
minority interests													1,853,000,000		1,622		1,622	2,094
capital stock 4,003,031,026 fully paid shares nominal value euro 1 each													4,003,000,000
reserves													23,474,000,000		20,272		20,272	20,500
net income for the period													3,424,000,000
total shareholders’ equity													27,695,000,000		26,696		26,696	26,257
total liabilities and shareholders’ equity													68,662,000,000	29,133	67,336		67,336	65,808
eni report on the first half of 2004
notes to the consolidated financial statements
net fixed assets														4,766
operating financing receivables and securities related to operations														21
net accounts payable in relation to investments														-415
non-current assets - sum														25,791
net capital employed														29,133
reserves related to fiscal laws														1,409
current assets:
cash and cash equivalent:															1,623
crude oil, natural gas and petroleum products															1,652		1,652	1,821
chemical products															636		636	622
work in progress on long-term contracts															434		434	184
non-current assets:
fixed assets, net of accumulated depreciation,
amortization and writedowns															36,360
current liabilities:
non-current liabilities:
shareholders’ equity:
capital stock 4,002,922,176 fully paid shares nominal value 1 euro each																	4,003
net income for the year															5,585		5,585	4,593
32,903																35,545
2,501																4,065
2,610																2,719
1,594																1,254
(873																-773
38,735																42,810
(2,897																-2,901
(491																-534
35,347																39,375
25,035																25,226
1,826																1,354
8,486																12,795
june 30, 2002
2,989																3,170
7,675																8,169
(4,809																-5,117
(4,619																-4,185
(5,375																-5,782
1,242																844
capital stock 4,001,814,026 fully paid shares nominal value 1 euro each																		4,002
usd
3,423																			3,265
1,267																			1,208
14,186																			13,530
1,909																			1,821
652																			622
193																			184
601																			573
3,355																			3,200
22,832																			21,776
35,327																			33,693
2,621																			2,500
2,914																			2,779
3,329																			3,175
1,976																			1,885
46,168																			44,032
69,000																			65,808
8,273																			7,890
1,028																			980
5,806																			5,537
1,528																			1,457
1,878																			1,791
4,128																			3,937
22,639																			21,592
6,868																			6,550
532																			507
5,790																			5,522
2,738																			2,611
708																			675
16,634																			15,865
39,274																			37,457
2,196																			2,094
4,196																			4,002
21,494																			20,500
(2,976																			-2,838
4,816																			4,593
27,530																			26,257

Cashflow Statements:

Quarterly

Annual

Unit: USD	2025-08-06	2023-08-04	2022-07-29	2021-02-19	2019-02-28	2018-10-31	2018-07-31	2018-07-27	2017-12-31	2017-03-31	2004-03-31

1,668
4.5
2,681
1,889
792
proforma adjusted ebit
2,422
387										1,827
262
refining and chemicals
corporate, other activities and consolidation adjustments
2,200
1,134
543
2,775
3,517
2,029
10,198
53,405
0.19
(a) non-gaap measures. for further information see the paragraph non-gaap measures on pages 18 and subsequent.
(b) the main jv/associates are listed in the reconciliation of group proforma adjusted ebit on page 24.
(c) attributable to eni's shareholders.
(d) net of expenditures relating to business combinations, purchase of minority interests and other non-organic items.
profit of the period	1,756	2,721
adjustments to reconcile profit to net cash from operating activities
depreciation and amortization	3,696	3,725									4,710
net impairments (reversals) of tangible, intangible and right-of-use assets	641	389
write-off of tangible and intangible assets	-13	135		18
share of (profit) loss of equity-accounted investments	-649	-691	-450	318	418		-45	-356
net gain on disposal of assets		-418
dividend income	-100	-92	-107	-46	-113	40	-23	-56	-146		-22
interest income	-202	-236	-41	-30	-45	60	-43	-57	-166		-197
interest expense	607	482									574
income taxes	2,079	2,917									3,241
other changes	-125	-420
cash flow from changes in working capital:	192	1,294
- inventories	401	2,063	-2,092		647	-270			-478		-162
- trade receivables	2,655	6,043	4,554	-183	1,263		-1,916	1,009
- trade payables	-2,437	-8,444		1,012		1,215			161
- provisions	-439	-140
- other assets and liabilities	12	1,772			-107				370
net change in provisions for employee benefits	8
dividend received	879	1,340
interest received	117	153		21							234
interest paid	-748	-508	-216	-177	-88	135	-186	-142	-401		-432
income taxes paid, net of tax receivables received	-2,230	-3,389	-2,271	-625	-1,472	514	-884	-1,250	-2,445
net cash from operating activities	5,902	7,425									10,827
- of which with related parties	-4,972	-3,421
cash flow from investing activities:	-4,535
- tangible assets	-3,707	-4,551	-1,771	-1,099	-2,642	2,634	-2,507	-1,879	-6,939
- prepaid right-of-use assets
- intangible assets	-258	-125	-58	-88	-147	38	-34	-82	-172		-959
- consolidated subsidiaries and businesses net of cash and cash equivalent acquired		-628			-75	-14
- investments	-351	-1,182	-70	-33		119	-43	-73	-57		-702
- securities and financing receivables held for operating purposes	-35	-148	-42	-37
- change in payables in relation to investing activities	-184	356	405	-55
cash flow from disposals:	320
- change in receivables in relation to disposals	220	67	25	43			-48	482	-1,846
net change in securities and financing receivables	-190
net cash from investing activities	-4,405	-5,032		-1,031	-2,835		-2,916	178	-3,231		-8,058
increase in long-term financial debt	3,721	4,050
repayments of long-term financial debt	-4,803	-509
payments of lease liabilities	-675	-475
increase in short-term financial debt	-242
dividends paid to eni's shareholders	-1,524		-1,490			-70	-1	-1,439
dividends paid to non-controlling interest	-33	-20
net capital contribution by non-controlling interests	709	-16
other contributions	9
sale (acquisition) of additional interests in consolidated subsidiaries	3,069
purchase of treasury shares	-666	-406
issuing effect of perpetual subordinated bonds	231
coupon payment on perpetual subordinated bonds	-105	-87
net cash from financing activities	-309	-1,142		2,610		2,971	-890	-1,527	-3,909		-4,304
effect of exchange rate changes and other changes on cash and cash equivalents	-204	-15
net increase in cash and cash equivalents	984	1,236
cash and cash equivalents - beginning of the period	8,183	10,181
cash and cash equivalents - end of the period	9,167	11,417
1,647
4.1
3,681
2,600
1,081
3,308
473
336
2,749
1,412
1,172
3,414
2,385
1,885
10,334
57,269
0.18
0.12
·
1,716
2,699
1,694
1,005
2,780
279
133
1,925
885
230
2,889
3,620
2,693
12,175
55,648
0.22
0.15
(b) the main jv/associates are listed in the reconciliation of group proforma adjusted ebit on page 22.
(e) calculated including the transactions agreed but yet to be closed at the reporting date.
1,712
3.1
4,107
3,185
922
3,532
334
269
refining, chemicals and power
74
3,418
1,519
661
3,907
4,571
2,126
12,113
55,219
net change in the provisions for employee benefits		23
- consolidated subsidiaries and businesses net of cash and cash equivalent disposed of		380	4						2,361
dividends paid to eni’s shareholders		-1,509
acquisition of additional interests in consolidated subsidiaries
1,741
3.0
4,116
3,027
1,089
3,320
325
420
44					-841
7										9
3,126
1,582
1,211
3,896
1,904
1,990
12,882
55,109
0.23
(a) non-gaap measures. for further information see the paragraph non-gaap measures on pages 17 and subsequent.
(b) the main jv/associates are listed in the reconciliation of group proforma adjusted ebit on page 25.
84.05
1.075
41					709
4.3
1,708
3,755
2,769
986
breakdown by segment
717
168								-411
3,189
1,662
0.50
173
0.05
3,606
4,175
2,433
10,899
53,644
0.20
financial highlights of the first quarter 2024
78.39
1.089
395
6.6
1,616
adjusted operating profit
2,066
1,087
87
165					7
3,381
292
3,673
1,935
0.57
294
0.08
4,232
4,443
2,597
8,215
55,528
(a) non-gaap measure. for further information see the paragraph non-gaap measures.
(b) attributable to eni's shareholders.
(c) net of expenditures relating to business combinations, purchase of minority interests and other non-organic items.
cash flow from investing activities		-6,278	-1,539	-1,312	-2,884	2,825	-3,020	-1,923
cash flow from disposals		580
net change in securities and financing receivables held for non-operating purposes		666
increase (decrease) in short-term financial debt		-2,113
disposal (acquisition) of additional interests in consolidated subsidiaries		-57
81.27
1.073
606
11.2
1,656
2,789
1,372
154
186
140
4,641
340
4,981
2,907
0.86
2,388
0.70
5,291
2,982
2,214
7,796
55,553
0.14
financial highlights of the second quarter of 2023
88.71
1.021
1,009
13.6
1,617
2,891
63
379
118
131
3,582
776
4,358
2,493
0.74
627
0.21
4,114
4,593
7,026
55,230
0.13
financial highlights
86.76
1.088
34
14.7
1,635
adjusted operating profit ⁽ᵃ⁾
2,620
111
401
219
3,014
3,953
251
3,265
1,818
0.54
1,916
3,369
3,519
8,679
57,284
financial highlights of the fourth quarter 2023
113.78
1.065
1,032
17.2
1,586
5,841
4,867
global gas & lng portfolio
1,104
3,808
1.07
3,815
5,191
4,183
1,822
7,872
52,012
(b) net of expenditures relating to business combinations, purchase of minority interests and other non-organic items.
financial highlights of the third quarter 2022
net impairments (reversals) of tangible and intangible assets and right-of-use assets
change in the provisions for employee benefits
dividends received											189
- tax on disposals
payments of long-term financial debt
capital contributions of third parties
purchase of trasury shares
issue of perpetual subordinated bonds				2,975
3,589			3,819
adjustments to reconcile net profit to net cash from operating activities:
1,845			1,545
62			113
25			22
gains on disposal of assets			-110		-37			-417
211			279
2,295			2,600
6			-58					15		3
cash flow from changes in working capital			-1,235	-644			-1,074	398
2,738			-3,383
- provisions for contingencies			117	-587		423
348			-431
16			39
58			247
3,098			4,183
- prepaid right of use
625			384
3			4		-12
571			310
51			29
2,715			-1,045
570			-2,200
iq
2022			2,022
128			1
payment of long-term debt			-2,817
payment of lease liabilities			-266
2,639			220
dividends paid to non-controlling interests			-13
reimbursement to non-controlling interest			20
net purchase of treasury shares			-195
coupon of perpetual subordinated bonds			-48
1,529			-4,591
9			70
5,206			-2,538
8,265			13,471
13,471			10,933
79.7
1.144
987
(2.2
1,737
3,806
3,630
536
(104
102
1,700
0.47
3,515
0.97
4,615
5,835
1,777				1,670
8,987
44,519
100.85
1.007
2,082
1,578
5,772
4,272
1,083
537
172
3,730
1.06
5,862
1.67
5,469
5,586
6,444
57,845
0.11
68.83
1.206
264
1				5
1,597
2,045
1,841
24
190
108
929
0.24
247
0.06
2,797
2,717
10,040
15,323
40,580
0.25
0.38
(a) non-gaap measure. for further information see the paragraph non-gaap measures on page 20.
sales from operations
operating profit
exploration & production
refining & marketing and chemicals
eni gas e luce, power & renewables
adjusted net profit ⁽ᵃ⁾⁽ᵇ⁾
per share ⁽ᶜ⁾
per adr ⁽ᶜ⁾⁽ᵈ⁾
net profit ⁽ᵇ⁾
comprehensive income ⁽ᵇ⁾
net cash flow from operating activities
capital expenditure	0	0									0
free cash flows	5,902	7,425									10,827
of which: exploration
hydrocarbons development
total assets at period end
shareholders' equity including non-controlling interests at period end
net borrowings at period end after ifrs 16
net borrowings at period end before ifrs 16
net capital employed at period end
of which: exploration & production
leverage before ifrs 16
leverage after ifrs 16
gearing
coverage
current ratio
debt coverage
share price at period end
weighted-average number of shares outstanding
market capitalization ⁽ᵉ⁾
(a) non-gaap measure.
(c) fully diluted. ratio of net profit/cash flow and average number of shares outstanding in the period. dollar amounts are converted on the basis of the average eur/usd exchange rate quoted by reuters (wmr) for the period presented.
(d) one american depositary receipt (adr) is equal to two eni ordinary shares.
(e) number of outstanding shares by reference price at period end.
corporate and other activities
total group employees
of which: women
outside italy
female managers
60.90
1.205
198
1,704					1,678
1,321
1,378
r&m and chemicals
202
270
856
1,960
1,376
1,387
12,239
17,507
39,957
0.31
0.44
non-gaap measure. for further information see the paragraph non-gaap measures on page 18.
44.23
1.193
153					185
spread psv vs. ttf
0.2
1,713
488
802
132										-292
50
0.01
per share - diluted
988
1,206
11,568
16,586
37,493
(a) non-gaap measure. for further information see the paragraph non-gaap measures on page 17.
(c) include capital contribution to equity accounted entities.
quarterly highlights
net profit				-723
impairment losses (impairment reversals) of tangible, intangible and right of use				455
210				209
504				454
171
17				-24
595				-862
85				96	13
1,456				988
23				95
22				37
507				186
iiiq
2020				2,020
840				146
repayments of long-term debt				-479	-878	1,419	-1,568	-81
repayment of lease liabilities				-193
37				169
effect of exchange rate changes on cash and cash equivalents and other changes				-33				31
352				2,534
6,527				6,879
6,879				9,413
73.47
1.179
491
1,688
2,492
2,444
64
1,431
0.40
1,203
0.33
3,339
2,933
1,136
11,309
16,622
40,280
0.28
0.41
(a) non-gaap measure. for further information see the paragraph non-gaap measures on page 21.
(b) do not include any estimate on saipem result for the fourth quarter 2021.
29.20
1.101
26.51
75
2.3
1,729
e&p
130								169
73
adjusted net profit
1,148
1,403
957
14,329
19,971
38,839
0.37
0.51
(a) non-gaap measure. for further information see the paragraph non-gaap measures on page 23.
(b) due to a new group-wide structure approved by the management last june to adhere to the decarbonization strategy underway, effective july 1, 2020 the reportable segments of the company’s financial reporting have been re-designed. as required by international accounting standards, the new segment information is effective as of the beginning of the reporting year with the restatement of the 2019 comparative periods. for more information see page 21.
(d) non-gaap measure. net cash from operating activities before changes in working capital excluding inventory holding gains or losses and provisions for extraordinary credit losses and other charges, as well as from the third quarter 2020 considering the high market volatility, changes in fair value of commodity derivatives lacking the formal criteria to be designed as hedges, for which the underlying transactions are expected to occur in future reporting periods.
(e) include capital contribution to equity accounted entities.
(f) net of expenditures relating to reserves acquisition, purchase of minority interests and other non-organic items.
-1-
50.26
1.103
45.56
121
1,774
1,307
1,037
431
59
0.02
1,953
975
1,905
12,920
18,681
45,385
43.00
1.169
36.78
95								-350
0.7
1,701
515
21								4
57
adjusted net profit ⁽ᵃ⁾⁽ᶜ⁾⁽ᵈ⁾
net profit ⁽ᶜ⁾⁽ᵈ⁾
902
14,525
19,853
36,533
adjustments to reconcile net profit to net cash from operating activities
share of (profit) loss of equity-accounted investments
changes in working capital:
investing activities:
- securities held for operating purposes
- financing receivables held for operating purposes
disposals:

reimbursements to non-controlling interest
acquisition of treasury shares
effect of change in consolidation
cash and cash equivalents – beginning of the year
cash and cash equivalents – end of the year
net profit for the period
net impairments (reversals) of tangible and intangible assets
- securities					-74	280	-241	-78	-174		-103
- financial receivables
net change in securities and financial receivables held for non-operating purposes
repayments of lease liabilities
reimbursements to minority shareholders
net cash flow of the period
67.76
1.141
59.37
1,872
2,992
2,928
42
143
1,450
399
3,277
4,325
2,424
8,289
51,073
0.16
n.a.
61.94
1.112
55.70
1,888
2,159
2,141
93
145
523
2,602
2,055
1,791
12,709
18,517
51,471
0.36
1,530					502
adjustments to reconcile net profit to cash from operating activities:
53					26
1,772					1,506
960					-67
560					1,749
71					2
60					115
27					35
4,102					4,329
- financing receivables					-97	165	-193	-118	-600		-1,095
- change in payables in relation to investing activities and capitalized depreciation					163		13	307
18					54
11					-236
- income taxes paid on disposals
66					68
15					18
83					138
358					49
2018					2,018			2,018
2,383					489
increase in short-term debt					-588	154
2,064					-977
554					-981
5					1			95
2,901					514
7,440					10,341
10,341					10,855
1,257
1,771
137
1,391
169
550
398
4
3,033
328
1,011
146
32								146
402
482										20
2,101
178
iiq
407
31
1,715
5,725								7,440
profit for the period
net impairment losses (reversals) of tangible and intangible assets
proceeds from long-term debt											3,118
948								1,257
1,835								1,771
29								73
139								137
1,295								1,391
188								-369
104								-442
455								550
35								1		-5
2,187								3,033
80								402
511								407
net cash flow for the period								1,715
7,363								5,725
61.39
1.177
52.14
1,892
2,003
1,867
215
113
943
0.26
2,047
1,855
3,318
1,891
10,916
75.27
1.163
64.72
1,803
3,304
3,095
1,388
0.39
0.42
3,396
1,820
9,005
net profit of the year – continuing operations
net impairments
gain on disposal of assets											-35
net cash from operating activities – continuing operations
net cash from operating activities – discontinued operations
– of which with related parties
net capital contributions by non-controlling interest
effect of cash and cash equivalents pertaining to discontinued operations
net cash flow of the year
cash and cash equivalents – beginning of the year
cash and cash equivalents – end of the year
1,944
49
314
2,533
86
674
33
98
2,706
48
cash flow from investments
61
116
2017
2										53
372
effect of cash and cash equivalents relating to discontinued operations
5,465
4,939
net sales from operations
- per share
- per adr
comprehensive income
adjusted cash flow from operations
net borrowings at period end
gas & power
leverage
market capitalization
group net profit
net cash provided from operating activities before changes in working capital at replacement cost
development of hydrocarbons reserves
dividend to eni's shareholders pertaining to the year
cash dividend to eni's shareholders
total assets at year end
shareholders' equity including non-controlling interests at year end
net borrowings at year end
net capital employed at year end
share price at year end
(8,155										-561
2,086										1,889
6,302										33
497										17
460										208
(136										-10
(120										-22
(42										-48
166										165
565										302
1,165										-158
1,003										397
321										190
520										-252
3,141										-115
(14										14
221										42
26										23
(152										-26
(883										-606
4,444										1,325
19										238
4,463										1,325
(2,793										-2,035
(58										-16
(57										-6
(71										-58
(536										-316
(622										-81
(4,137										-2,512
1,345										14
158										370
1,545										449
(2,592										-2,063
fourth quarter
2015										2,016
(1,612										-211
(1,206										1,854
(23										-1,408
(1,229										446
(11
(889
(223										-297
5,432										5,099
5,209										4,802
52.08
1.175
44.34
947
1,046
337
229
344
0.10
1,938
2,124
1,463
14,965
0.32
(743
2,252
56
(99
(59
(39
157
152
(46
2,330
(1,424
(520
367
(139
(935
1,877
(234
1,643
(2,326
(63
(32
(125
(274
(2,843
13
28
38
182
65
429
(2,414
third quarter
985
(88
1,272
2,169
(1,417
(18
734
(34
5,466
1,554
505
3,565
498
(97
(0.03
(0.07
sustainability performances
total recordable injury rate
direct ghg emissions
- of which co2 from combustion and process
- of which co2 eq from methane
- of which co2 eq from flaring
- of which co2 eq from venting
direct ghg emissions upstream/production
oil spills due to operations
water reinjection
634
(301
3,964
(8,454
(2.35
(5.15
(8,723
(2.42
(5.30
- 2 -
fourth quarter 2013
dividend > the company’s robust results and strong fundamentals underpin a dividend distribution of euro 1.10 per share (euro 1.08 in 2012). management reaffirms its commitment to deliver a progressive dividend policy taking into account eni’s underlying growth in earnings and cash flow.hydrocarbon production > in 2013, hydrocarbon production declined to 1.619 million boe/d by 4.8% from 2012, reflecting significant force majeure events in libya, nigeria and algeria, partly offset by the contribution of the start-up of new fields and continuing production ramp-ups.
proved oil and natural gas reserves > proved oil and gas reserves as of december 31, 2013 were 6.54 bboe. the organic reserve replacement ratio was 105%. the reserve life index is 11.1 years. natural gas supply contracts > renegotiated purchase terms of 85% of the company’s long-term gas supply contracts, resulting in a euro 1.4 billion cost saving. natural gas sales > natural gas sales declined by 2.3% to 93.17 bcm against the backdrop of an ongoing demand downturn, competitive pressure and oversupply.
divestment of eni’s interest in eni east africa > in july 2013, eni closed the sale of a 28.57% interest in eni east africa (eea) to china national petroleum corp (cnpc). cnpc indirectly acquires, through its equity investment in eni east africa, a 20% interest in the area 4 mineral property, located offshore of mozambique. eni retains operatorship and a 50% interest through the remaining stake in the investee. the total consideration cashed-in by eni was euro 3,386 million, with a gain of equivalent amount recorded in profit and loss (euro 3,359 million, euro 2,994 million net of tax charges).
injury frequency rate -28.7% progressing for the ninth consecutive year
> access to energy new agreements in mozambique
exploration successes 1.8 bln boe at year end
n business portfolio eni is a major integrated energy company, committed to growth in the activities of finding, producing, transporting, transforming and marketing oil and gas. we have three major businesses: n our exploration & production business delivered an outstanding performance in 2010, laying foundations for our future growth. looking forward, we intend to achieve strong production growth with increasing returns leveraging on the quality of the assets in portfolio, a robust pipeline of capital projects and well-established relationships with host countries. we will pursue the maximization of returns by our continued focus on cost efficiency and operational excellence and reduction in the time to market of our projects. increasing operatorship will help us deliver on costs and time schedule while better monitoring technical risks through the deployment of our technologies and internal standards and procedures. n our gas & power business performance in 2010 was hit by heightened competitive pressures and oversupply conditions in the european gas
net proved oil and gas reserves 7.17 billion barrels oil equivalent proved oil and gas reserves as of 2012, at eight-year record
safety > in 2012 the injury frequency rate relating to employees and contractors decreased by 12.3% and 21.1% respectively, compared to 2011. this positive trend progressed for the eighth consecutive year. notwithstanding the 43.3% decrease in the fatality index, seven fatal accidents occurred in 2012. eni is engaged in maintaining high level of safety in each of its activities.eni leads energy for all in sub-saharan africa > on november 28, 2012, during the first meeting of the leadership council of the sustainable development solutions network (sdsn), eni was appointed to lead energy for all in sub-saharan africa, an initiative aimed at devising solutions for a more general access to energy in the technological, institutional, political-managerial and business expertise.
exploration success > 2012 was a record year for exploration at eni with discovered resources of 3.64 bboe, about six time yearly production. the exploration success achieved in mozambique at the mamba complex (eni operator with a 70% interest) confirmed mamba to be the largest discovery ever in eni’s history with estimated full mineral potential of 75 tcf of gas in place. the agreement signed in december 2012 with anadarko petroleum corporation for the coordinated development of offshore activities and the joint construction of onshore facilities is a crucial step towards the start of the mozambique project, whose fid is expected in 2014. the skrugard and havis oil and gas discoveries in the barents sea in the pl 532 prospect (eni 30%) found a combined amount of 500 million barrels of recoverable resources (100%) and will be jointly developed in a fast and efficient way. appraisal activities at the sankofa discovery in the offshore cape three points license operated by eni (47.22% interest) in ghana confirmed the high potential of the area estimated at around 450 million barrels of oil in place. exploration licenses have been acquired in high potential countries such as kenya, liberia, vietnam, cyprus and offshore russia and in shale gas plays in ukraine as well as in other established areas such as china, pakistan, indonesia and norway.business developments > the authorities of venezuela sanctioned the full field development plan of the giant perla gas project, located in cardón iv block (eni 50%) offshore the gulf of venezuela. production plateau is estimated at 1,200 mmcf/d. in libya onshore exploration restarted within an exploration campaign that will last
supply contracts in italy. the recognition of the associated economic effects will be retroactive to the beginning of 2011.restarted libyan operations in libya eni achieved a quick production restart, also reopening the greenstream pipeline, leveraging our consolidated relationships with the interim transitional national council and continued collaboration with the noc. production at the company’s libyan sites is currently flowing at approximately 240 kboe/d. management plans to achieve the pre-crisis production plateau of 280 kboe/d with full ramp-up by the second half of 2012. safety in 2011 the injury frequency rate decreased by 22% and 15.9% relating to employees and contractors respectively, compared to the previous year. this positive trend progressed for the sixth consecutive year. inclusiveness in 2011 eni launched the second edition of eni secondo te climate analysis for collecting opinions and suggestions from over 32,000 employees in 47 countries. in 2011 women employees increased by 3.4% notwithstanding the decrease of the overall workforce by 1.6%. eni’s participation to global governance on sustainability themes eni joined the collective action initiative against energy poverty within the lead program which involves global companies with an excellent track record in sustainability according to the global compact. by 2030 this initiative aims to: secure global access to modern energy services, double the energy efficiency growth rate and the share of renewable sources in the energy mix. eni promoted the task force on business action which guarantees the contribution and the commitment of the private sector. furthermore, eni and the international scientific and professional
- in may 2011, eni signed an agreement with meo australia ltd to farm-in the heron and blackwood gas discoveries in permit nt/p-68, located in the timor sea in australia. eni is entitled to acquire a 50% stake and operatorship by financing exploration activities. - in may 2011, eni was awarded rights to explore and the operatorship of the arguni i block with a 100% interest, located in the bintuni basin, with high mineral potential. - in june 2011, eni signed a memorandum of understanding with south africa’s state-owned oil company petrosa to promote common opportunities to jointly expand operations in conventional and unconventional hydrocarbons in south africa and in africa. eni will also ensure long-term lng supplies and as well as flows of refined products to support the country’s economic development. - in june 2011, through its subsidiary polimeri europa, eni signed a cooperation agreement with novamont spa to convert eni’s porto torres chemical plant into an innovative bio-based chemical complex to produce bioplastics and other bio-based petrochemical products (bio-lubricants and bio-additives) for which significant growth is expected in the medium-long term. - in july 2011, eni acquired from cadogan petroleum plc an interest in two licenses for exploration and development in areas included in the dniepr-donetz basin in ukraine.
14,000 bcf. the partners are planning to fast track perla through an early production phase, targeted to start-up by 2013.zubair oilfield - iraq in the fourth quarter of 2010, eni has achieved project milestones at the giant zubair oilfield in iraq by increasing production by more than 10% above the initial production rate of approximately 180 kbbl/d, thus beginning cost recovery for its work on the field, including receiving a remuneration fee. eni, with a 32.8% share, is leading the consortium in charge of redeveloping the zubair field over a 20 year period, targeting a production plateau of 1.2 mmbbl/d in the next six years. other portfolio developments and exploration activity in february 2011, production start-up was achieved at the nikaitchuq operated field (eni 100%), located in the north slope basin offshore alaska, with resources of 220 million barrels. peak production is expected at 28 kbbl/d. in january 2011, eni was awarded rights to explore and the operatorship of deep offshore block 35 in angola, with a 30% interest. the deal is subject to the approval of the relevant authorities. in january 2011, eni signed a memorandum of understanding with petrochina to promote common opportunities to jointly expand operations in conventional and unconventional hydrocarbons in china and outside china. in december 2010, eni and gazprom signed the extension to 2012 of the strategic agreement signed in 2006. this consolidates a long term partnership to launch joint projects in mid and downstream gas, in the upstream sector and in technological cooperation. in december 2010, eni increased its ownership interest in altergaz, a company marketing natural gas in france to retail and middle market clients. eni now controls the entity. in november 2010, eni signed with the government of ecuador new terms for the service contract for the villano oilfield, due to expire in 2023. under the new agreement, the operated area is enlarged to include the oglan oil discovery, with volumes in place of 300 mmbbl. development will be achieved in synergy with existing facilities. in december 2010, eni acquired minsk energy resources operating 3 licenses in the polish baltic basin, a highly prospective shale gas play. in august 2010, eni signed an agreement to acquire a 55% stake and operatorship in the ndunda block located in the democratic republic of congo. in october 2010, eni was awarded operatorship of offshore block 1 and block 2 (eni 100%) in the dahomey basin, in togo. the area is located in a scarcely explored basin bordered to the west by the analogous tano basin where major discoveries have been made. portfolio optimization in october 2010, with a view to rationalizing its upstream portfolio, eni divested its subsidiary società padana energia to gas plus. the divested subsidiary includes exploration leases and concessions for developing and producing oil and natural gas in northern italy. in may 2010, eni signed a preliminary agreement with an affiliate of petrobras for the divestment of its 100% interest in gas brasiliano distribuidora, a company that markets and distributes gas in an area of the são paulo state, brazil. the completion of the transaction is subject to approval of the relevant brazilian authorities. in april 2010, eni divested to noc (the libyan national oil
-
full year 2008
•
–
alberto clô director
enhancement of asset portfolioeni enhanced its portfolio of mineral rights via acquisition of exploration permits and production licenses located mainly in core areas such as libya, nigeria and angola, as well as in new high-potential basins such as alaska and india for a total net acreage of approximately 67,000 square kilometers (44,000 square kilometers net to eni) growth in natural gas natural gas sales volumes were up 8% to 96 bcm reflecting higher sales on both the italian and european natural gas markets. sales of liquefied natural gas (lng) achieved 7 bcm, up 17% compared with 2004
51,487
9,517
5,585
10,827
8,802
28,318
13,543
41,861
2003
981
581
1,562
69.56
1.90
71.46
6.97
78.43
24.63
5.55
33.52
49.91
10,647
6,907
9,405
76,521
28.84
1.131
25.50
2.65
cash flow from operating activities
net income											5,585
minority interest in net income											569
writedowns (revaluations)											586
net change in other reserves											144
net change in the reserve for employee termination indemnities											53
unrealized exchange differences											-279
extraordinary income											-49
cash generated from operating income before changes in working capital											14,880
increase:
- accounts receivable											-622
- accrued interest and other current assets											66
- trade and other accounts payable											451
- accrued expenses and other											-198
cash from operations											14,415
net extraordinary expense paid											-50
income taxes paid											-3,529
cash flows from investing activities
investments:
- fixed assets											-7,843
- new consolidated subsidiaries and businesses											-283
- change in accounts payable in relation to investments and capitalized depreciation											207
- consolidated subsidiaries and businesses											338
- change in accounts receivable in relation to disposals											11
cash flows from financing activities
payments of long-term debt											-485
additions to (reductions of) short-term debt											-1,004
payments to (by) minority shareholders											13
sale (purchase) of additional interests in subsidiaries											-2,606
dividends to minority shareholders											-3,011
other											-329
effect of change in consolidation area											-9
effect of exchange differences											-98
net cash flow for the year											-1,642
cash and cash equivalent at beginning of the year											3,265
cash and cash equivalent at end of the year											1,623
cash flows from operating activities
writedowns
net cash provided from operating activities
- change in accounts payable in relation to investments
and capitalized depreciation
4,390
effect of exchange rate differences
47,922
8,502
10,578
8,048
1,366
11,141
39,492
2002
operating income
investments
shareholders’ equity including minority interest
net borrowings
net capital employed
net income per share
dividend
dividends paid
pay-out
return on average capital employed
debt to equity ratio
average price of brent dated crude oil
average eur/usd exchange rate
average price in euro of brent dated crude oil
average european refining margin
euribor - three-month euro rate
7,751
477
4,671
811
67
3,530
15,038
179
14,841
129
8,146
8
882
1,084
978
1,333
dec. 31, 2001
euro
636
(1,311
141
(534
1,337
(1,736
(1,494
(1,484
1,244
1,305
usd
4,816
660
5,203
620
101
(159
(338
596
(68
30
3,279
14,739
(219
(970
92
582
(20
14,204
(607
(170
(2,662
11,091
(1,263
(7,175
(1,094
(285
(64
(693
(10,372
81
283
203
245
1,429
(8,943
2,249
(527
2,196
3,917
(108
(3,182
(807
(115
(127
1,966
1,457
3,423

Eni S.p.A(NYSE:E)

Eni S.p.A
(NYSE:E)