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HIGHLIGHTS

Financial Highlights for the second quarter and the first half of 2010

  • Adjusted operating profit: €4.13 billion in the quarter (up 61.9%); €8.46 billion in the first half (up 34.2%).
  • Adjusted net profit: €1.63 billion in the quarter (up 80.2%); €3.45 billion in the first half (up 29.5%).
  • Net profit: €1.82 billion in the quarter (up 119.2%); €4.05 billion in the first half (up 47.9%).
  • Cash flow: €4.59 billion in the quarter; €9.14 billion in the first half.

Operational Highlights for the second quarter and the first half of 2010

  • Oil and natural gas production: 1.758 million barrels per day in the quarter, unchanged from 2009 on a comparable basis (up 1.0% in the first half).
  • Natural gas sales: down 6.2% to 19.2 billion cubic meters in the quarter (down 5.9% in the first half).
  • In the first half of 2010, 5 new fields were put into production in Italy, Congo, Algeria and Tunisia and Eni is on track to achieve the target of 12 field start-ups for 2010.
  • Significant exploration success was achieved in Angola, Venezuela, Pakistan, Norway and Indonesia increasing Eni’s resource base by 600 million barrels in the first half 2010.
Offshore Platform

Profile of the year

Eni reported net profit of €4.37 billion for the full year 2009. Adjusted basis net profit was €5.21 billion, down 48.8% from a year ago. The reduction reflected lower results mainly reported by the Exploration & Production division due to an unfavourable trading environment for oil prices in the first nine months of the year and by the Refining & Marketing division driven by sharply lower refining margins. The Gas & Power division and the Engineering & Construction business segment showed a resilient performance.

Cash inflows for the year mainly comprised cash flow from operations of €11.14 billion, proceeds of €3.6 billion from divesting certain interests and non strategic assets, and €1.54 billion from a share capital increase subscribed by minorities following the restructuring of Eni’s regulated gas businesses in Italy. These inflows enabled the Company to partially fund capital expenditures of €13.69 billion to support organic growth and exploration activities, the completion of the Distrigas acquisition of €2.04 billion and the payment of dividends to Eni shareholders amounting to €4.17 billion. Ratio of net borrowings to total equity was 0.46 (0.38 at December 31, 2008).


  • Results 2009Results 2009
  • See AlsoSee Also
  • Net profit: €4.37 billion
  • Dividend proposal: €1.00 per share
  • Net sales from operations: €83.23 billion
  • Cash flow: €11.14 billion
  • Market capitalization: €64.5 billion
  • Oil and natural gas production: 1,769 kboe/d
  • Natural gas sales: 103.72 bcm

Dividend

Based on 2009 results and taking into account the Company’s sound fundamentals, a dividend of €1.00 per share (€1.30 in 2008) will be distributed to shareholders. Included in this annual payment is €0.50 per share already distributed as interim dividend in September 2009. Management reaffirms its commitment to create value for Eni’s investors.

Oil and natural gas production

Proved oil and natural gas reserves

Natural gas sales

Distrigas

Reorganization of the regulated businesses in the Italian gas sector

Strategic partnership between Eni and Gazprom

Portfolio developments

Partnership agreements

Exploration activities




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Last updated on 28/07/10