Your SlideShare is downloading. ×
0
2010 fourth quarter and full yearpreliminary results16 February 2011eni.com
2010 highlightsE&P  Record production:1.815 kboed (+1.1%* vs 2009)  Progress on key projects in Iraq, Venezuela and Angola...
market environment                                                   Average European                Brent                ...
Q4 consolidated results              Adj. operating profit                                   Adj. net profitMillion €     ...
E&P performance          Oil & gas production                                    Adj. operating profitkboe/d              ...
proved reservesmmboe                                                             6,843                          6,923     ...
G&P performance                   Gas sales                                      Adj. operating profitBcm                 ...
G&P: ebitda proforma adjusted*million €                                                 1,432                             ...
R&M performance            Process utilization index                      Adj. operating profit%                          ...
other businesses: adjusted operating profitmillion €       Q4      Q4                          FY      FY                 ...
net debt evolutionbillion €                                                                                     26.1      ...
2011: continuing growth Exploration & Production Increase production by 1% @ $70/bbl Gas & Power Preserve profitability th...
Appendix16 February 2011eni.com
results of operationsmillion €    Q4 09     Q4 10                                                     FY 09     FY 10    Δ...
G&P: adjusted operating profit by activitiesmillion €                        -31.1%               1,127                91 ...
unrealized profit in stocks (UPIS)million €     Q4 09     Q4 10                          FY 09   FY 10      (62)     (202)...
eni share of profit from associates         Q4                                               FY  2009        2010         ...
G&P share of profit from associatesmillion €               -2.1%                                                +22.4%    ...
main operating dataQ4 09    Q4 10                                                                 FY 09            FY 10  ...
production growth by geographical areakboe/d                                      +3.6%                           1,886   ...
oil & gas productionkboe/d                                      +3.6%                                              1,886  ...
capexmillion €                                  0.5%                        3,894               3,912                     ...
eni consolidated results                              +36.4%                                          +26.3%              ...
Upcoming SlideShare
Loading in...5
×

Eni 2010 4Q and Full Year Preliminary Results

650

Published on

Published in: Business, Economy & Finance
0 Comments
0 Likes
Statistics
Notes
  • Be the first to comment

  • Be the first to like this

No Downloads
Views
Total Views
650
On Slideshare
0
From Embeds
0
Number of Embeds
0
Actions
Shares
0
Downloads
8
Comments
0
Likes
0
Embeds 0
No embeds

No notes for slide

Transcript of "Eni 2010 4Q and Full Year Preliminary Results"

  1. 1. 2010 fourth quarter and full yearpreliminary results16 February 2011eni.com
  2. 2. 2010 highlightsE&P Record production:1.815 kboed (+1.1%* vs 2009) Progress on key projects in Iraq, Venezuela and Angola RRR 137% (organic at 2009 price), Life Index 10.5 years Exploration: > 0.9 Bboe resources discovered (Venezuela, Angola, Indonesia) New initiatives: Gulf of Guinea, East Africa, Poland and ChinaG&P Long-term gas contract renegotiations ongoing Increased returns in Italian regulated businessesR&M Achieved cost reductions ahead of target Improved integration of Italian refining system *Net of updating the natural gas conversion factor 2
  3. 3. market environment Average European Brent €/$ exchange rate refining margin*$/bl €/bl $/bl €/bl 6 1,6 690 90 5 1,5 5 475 75 4 3 1,460 60 3 2 1,345 45 1 230 30 0 1 1,2 Q409 Q110 Q210 Q310 Q410 Q409 Q110 Q210 Q3 10 Q410 Q409 Q110 Q210 Q310 Q410 USD Euro * Brent/Ural FOB Mediterranean market. Eni calculations on Platt’s Oilgram data 3
  4. 4. Q4 consolidated results Adj. operating profit Adj. net profitMillion € Million € 4,739 3,702 1,723 1,394 Q4 09 E&P G&P R&M Other Q4 10 Q4 09 Op. Inv/Fin Taxes Minor Q4 10 Profit adj Charges 4
  5. 5. E&P performance Oil & gas production Adj. operating profitkboe/d Million € 1,954 4,028 1,886 1,816 1,758 1,705 3,442 3,296 3,118 2,804 Q4 09 Q1 10 Q2 10 Q3 10 Q4 10 Q4 09 Q1 10 Q2 10 Q3 10 Q4 10 Oil Gas 5
  6. 6. proved reservesmmboe 6,843 6,923 6,677 80 106 (12) 662 840 2009 production promotions portfolio 2010 price effect 2010 adj 2009 2010 2010 adj RRR Organic: 92% RRR Organic: 127% RRR Organic: 137% RRR All sources: 96% RRR All sources: 125% RRR All sources: 135% Life Index: 10.2 Life Index: 10.3 Life Index: 10.5 Brent 59.9 Brent 79 Brent 59.9 $/boe $/boe $/boe Conversion factor 6
  7. 7. G&P performance Gas sales Adj. operating profitBcm Million € 28.9 27.2 1,267 26.6 1,127 17.9 17.4 777 629 446 Q4 09 Q1 10 Q2 10 Q3 10 Q4 10 Q4 09 Q1 10 Q2 10 Q3 10 Q4 10 Italy International* * Including associates 7
  8. 8. G&P: ebitda proforma adjusted*million € 1,432 1,159 921 821 825 703 675 Q2 09 Q3 09 Q4 09 Q1 10 Q2 10 Q3 10 Q4 10 International Regulated Marketing Transport businesses in Italy * Ebitda pro forma includes: pro-quota ebitda contribution from SRG and associates 8
  9. 9. R&M performance Process utilization index Adj. operating profit% Million € 86 14 84 77 73 70 -39 -52 -94 -196 Q4 09 Q1 10 Q2 10 Q3 10 Q410 Q4 09 Q1 10 Q2 10 Q3 10 Q410 9
  10. 10. other businesses: adjusted operating profitmillion € Q4 Q4 FY FY Δ% 2009 2010 2009 2010 (104) (74) Petrochemicals (426) (113) 73.5 284 378 Engineering & 1,120 1,326 18.4 Construction (66) (43) Other activities (258) (205) 20.5 (85) (86) Corporate (342) (265) 22.5 10
  11. 11. net debt evolutionbillion € 26.1 0.4 0.4 23.1 13.9 14.7 4.1 1.1 Dec 2009 Operating Divestments Dividends Capex Acquisitions Others Dec 2010 cashflow 11
  12. 12. 2011: continuing growth Exploration & Production Increase production by 1% @ $70/bbl Gas & Power Preserve profitability through focused marketing initiatives and contract renegotiations Refining & Marketing Further efficiency gains and process optimisation Capex In line with 2010 12
  13. 13. Appendix16 February 2011eni.com
  14. 14. results of operationsmillion € Q4 09 Q4 10 FY 09 FY 10 Δ% 22,077 27,950 Net sales from operations 83,227 98,360 2,466 2,875 Operating Profit 12,055 16,111 33.6 135 132 Inventory holding gains (losses) 345 881 2,331 2,743 Replacement Cost Operating Profit 11,710 15,230 30.1 (1,371) (1,996) Special items (1,412) (2,074) 3,702 4,739 Adjusted Operating Profit 13,122 17,304 31.9 (157) (184) Net financial income (expense) (551) (692) 151 82 Net share of profit from associates (expense) 700 781 3,696 4,637 Profit before income taxes 13,271 17,393 31.1 (2,015) (2,618) Taxation (7,114) (9,459) 54.5% 56.5% Tax rate 53.6% 54.4% (287) (296) Minority interest (950) (1,065) 391 548 Net Profit 4,367 6,318 44.7 (1,034) (1,271) Special items (1,031) (1,161) 31 96 Inventory holding gains (losses) 191 610 1,394 1,723 Adjusted Net Profit 5,207 6,869 31.9
  15. 15. G&P: adjusted operating profit by activitiesmillion € -31.1% 1,127 91 777 487 68 International Transport 529 Regulated business in Italy 549 180 Marketing Q4 09 Q4 10
  16. 16. unrealized profit in stocks (UPIS)million € Q4 09 Q4 10 FY 09 FY 10 (62) (202) E&P vs R&M (42) (229) 8 12 E&P vs G&P 80 (4) (8) (12) E&C vs Eni Group (38) (38) (62) (202) Total UPIS 0 (271)
  17. 17. eni share of profit from associates Q4 FY 2009 2010 2009 2010 95 93 Equity method accounted for 322 394 29 17 Gas transportation abroad 60 113 5 - EnBw (GVS) 19 2 28 35 Union Fenosa 108 119 6 7 Blue Stream 33 36 27 34 Others 102 124 9 4 Dividends 164 264 1 0 Disposals 3 0 46 (15) Others 211 123 151 82 Net income from associates 700 781
  18. 18. G&P share of profit from associatesmillion € -2.1% +22.4% 394 322 113 95 93 60 17 57 29 33 20 6 229 224 60 56 FY 09 FY 10 Q4 09 Q4 10 Marketing Regulated business in Italy International Transport
  19. 19. main operating dataQ4 09 Q4 10 FY 09 FY 10 Δ% 1,886 1,954 Hydrocarbon prod. (kboe/d) 1,769 1,815 2.6 166.8 173.6 Production sold* (mmboe) 622.8 638.0 2.4 10.0 10.5 Natural gas sales in Italy**(bcm) 40.0 34.3 (14.4) 16.0 16.2 Natural gas sales in Europe*** (bcm) 55.4 54.5 (1.7) 21.6 23.0 Natural gas transported in Italy (bcm) 76.9 83.3 8.3 9.4 10.2 Power production sold (TWh) 34.0 39.5 16.4 12.1 12.2 Refined product sales (mmtonnes) 45.6 46.8 2.7 1.0 1.1 Petrochemical sales (mmtonnes) 4.3 4.7 9.3 * Including Eni’s share of production of joint venture accounted for with the equity method ** Including self-consumption *** Consolidated sales
  20. 20. production growth by geographical areakboe/d +3.6% 1,886 1,954 401 419 145 209 117 117 403 421 688 565 173 182 Q4 09 Q4 10 Italy North Africa West Africa Kazakhstan America RoW
  21. 21. oil & gas productionkboe/d +3.6% 1,886 1,954 1,954 1,886 182 173 1,073 1,049 1,772 1,713 905 813 Q4 09 Q4 10 Q4 09 Q4 10 Abroad Italy Gas Liquids
  22. 22. capexmillion € 0.5% 3,894 3,912 386 150 409 381 254 615 591 2,490 2,573 -43 Q4 09 Q4 10 E&P G&P R&M E&C Others (including UPIS)
  23. 23. eni consolidated results +36.4% +26.3% 0.48 0.38 0.15 EPS 0.11 Euro per share* Q4 09 Q4 10 Q4 09 Q4 10 Adjusted Adjusted -2.0% +4.5% 0.99 1.10 1.15 1.01 CFPS Euro per share* Q4 09 Q4 10 Q4 09 Q4 10 Adjusted Adjusted * Average shares: Q4 09 3,622 million; Q4 10 3,622 million Note: Cash Flow calculated as net profit+amortization & depreciation
  1. A particular slide catching your eye?

    Clipping is a handy way to collect important slides you want to go back to later.

×