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2012 first quarter results

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2012 first quarter results 2012 first quarter results Presentation Transcript

  • eni.com2012 first quarter results27 April 2012
  • 2Q1 results: highlightsE&P: further strengthened long-term growth prospects• Exploration success continuing : ~1 bn boe of new exploration resources added in Q1• Strategic agreement with Rosneft provides access to high potential licensesG&P: closure of Gazprom renegotiation Benefits retroactive for the whole of 2011 recorded in Q1 2012Non-core listed assets: value-release strategy progressing Galp: signed agreement to increase optionality on disposal Snam: ongoing collaboration with Italian government on disposal methodology
  • 3market environment$/bl €/bl €/bl$/blBrentAverage Europeanrefining margin*€/$ exchange rate* Brent/Ural FOB Mediterranean market. Eni calculations on Platt’s Oilgram dataUSD Euro
  • 4Q1 consolidated resultsAdj. operating profitMillion €Adj. net profitMillion €2,1982,4806,4525,099
  • 1,4731,6841,4891,678kboe/dOil & gas productionGas OilMillion €Adj. operating profitE&P performance5Q4 11 Q1 12Q1 11 Q2 11 Q3 11 Q4 11 Q1 12Q1 11 Q2 11 Q3 115,1004,1203,8263,9311,6744,200
  • 31.620.317.329.924.7BcmGas salesMillion €Adj. operating profitItalyInternational** Including associatesG&P performance61,504251352 385958Q4 11 Q1 12Q1 11 Q2 11 Q3 11 Q4 11 Q1 12Q1 11 Q2 11 Q3 11
  • * Ebitda pro forma includes: pro-quota ebitda contribution from SRG and associatesInternationalTransportRegulatedbusinesses in ItalyMarketing1,4325508256759211,054338million €G&P: ebitda proforma adjusted*7Q2 10 Q3 10 Q4 10 Q1 11 Q2 11Q1 10 Q3 11 Q4 11623Q1 121,641
  • %Process utilization indexMillion €Adj. operating profitR&M performance882 837573-22826-176-114-271Q4 11 Q1 12Q1 11 Q2 11 Q3 11 Q4 11 Q1 12Q1 11 Q2 11 Q3 1163
  • 9other businesses: adjusted operating profitmillion €Δ %Q12012Q12011 Chemicals N.S.(12) (162) Engineering & Construction 9.4342 374 Other activities -2.2(45) (46) Corporate 3.6(84) (81)
  • 10net debt evolution28.027.44.22.9 0.50.2billion €
  • eni.comAppendixApril 27th, 2012
  • 2results of operationsmillion €Operating ProfitInventory holding gains (losses)Special itemsNet sales from operationsReplacement Cost Operating ProfitAdjusted ProfitProfit before income taxesNet ProfitAdjusted Net ProfitNet financial income (expense)Net share of profit from associates (expense)TaxationTax rateMinority interestSpecial itemsInventory holding gains (losses)Q1 12 Δ %Q1 11Q4 113,4833,3474,2594,3031,2891,5405,638 6,8344,969 6,4225,099 6,4525,281 6,3462,547 3,6172,198 2,48030,102(136)912(288)332(2,533)58.9%(230)(321)70(290)33,475(669) (412)130 30(83)26528,779184(2,671) (3,559)50.6% 56.1%(412) (307)(125) 858474 27921.229.226.520.242.012.8
  • 3G&P: adjusted operating profit by activitiesmillion €28883955457311692Q1 11 Q1 12MarketingInternational TransportRegulated business in Italy57.0%1,504958
  • 4unrealized profit in stocks (UPIS)million €E&P vs R&ME&P vs G&PE&C vs Eni GroupTotal UPIS(14)20(10)(4)Q4 11 Q1 11 Q1 12(205)25(23)(203)(7)3(5)(9)
  • 5eni share of profit from associates26510114150Equity method accounted for Gas transportation abroad EnBw (GVS) Union Fenosa Blue Stream OthersQ12011 201220242977DividendsDisposalsOthersNet income from associatesQ4201112438937100191(1)42332160106310862400184
  • 6G&P share of profit from associatesmillion €8110212201Q1 11 Q1 12+1.8%113Marketing Regulated business in ItalyInternational Transport11512
  • 7main operating data* Including Eni’s share of production of joint venture accounted for with the equity method** Including self-consumption*** Consolidated salesQ4 11143.7Q1 11 Q1 121,684145.712.018.323.69.72.61.2Δ %(0.6)1.91.4(10.8)(4.5)27.0(3.8)(11.4) Hydrocarbon prod. (kboe/d) Production sold* (mmboe) Natural gas sales in Italy**(bcm) Natural gas sales in Europe*** (bcm) Natural gas transported in Italy (bcm) Power production sold (TWh) Refined product sales (mmtonnes) Chemical sales (mmtonnes)1,6789.314.018.911.46.40.9 1.01,6742.512.322.516.312.2148.4
  • 8production growth by geographical areakboe/d186 187505 566375 333117 111131 119370 358Q1 11 Q1 12Italy North Africa West AfricaKazakhstan America RoW1,684-0.6%1,674
  • 9kboe/doil & gas production186 187Q1 11 Q1 12Abroad Italy1,684785 807899Q1 11 Q1 12Gas Liquids-0.6%1,498 1,4871,6748671,684 1,674
  • 10capexmillion €(0.1)%1,952 2,018279 271132 124345 315Q1 11 Q1 12E&P G&P R&M E&C Other2,8751431672,871
  • 11eni consolidated results* Average shares: Q1 11 3,622.5 million; Q1 12 3,622.7 millionNote: Cash Flow calculated as net profit+amortization & depreciationQ1 12AdjustedQ1 11Adjusted0.61Q1 12AdjustedQ1 11Adjusted1.19 1.331.291.65Q1 12Q1 110.70Q1 12Q1 111.00.68EPSEuro per share*CFPSEuro per share*42% 12.8%27.7% 11.9%