Previous Year's Results

›  In 2010, refining throughputs were 34.80 mmtonnes, up 0.7% from 2009. Higher volumes were processed in Italy (up 0.5%) at the Livorno, Gela and Taranto plants as the trading environment improved from a year ago and optimization of refining cycles was implemented. In addition, higher volumes were processed due to the coming on stream of a new hydro-cracking unit in Taranto and lower planned standstills affected the partially-owned Milazzo refinery. These effects were partly offset by the termination of a process contract on a third-party refinery. Eni's refining throughputs outside Italy increased by 1.7% supported by higher throughput in the Czech Republic as a consequence of increased margins and demand recovery.

›  Retail sales in Italy (8.63 mmtonnes for the full year) decreased by approximately 400 ktonnes, down 4.4%, driven by lower demand which mainly impacted gasoline and, to a lesser extent gasoil, and rising competitive pressure as well as demand price elasticity. Eni's a market share for 2010 averaged 30.4%, down 1.1 percentage points from 2009 (31.5%).

›  Retail sales in the rest of Europe (3.10 mmtonnes) increased by 3.7% from 2009. The increase was driven by volume additions in Austria, reflecting the finalization of the purchase of service stations in the second half of 2010, and by enhanced performance in certain Eastern European Countries, Germany and France.

›           In 2010, the offer of products and non-oil services improved in Eni's retail network in Italy, due to the opening/restructuring of 257 outlets under the new "eni cafè" and "eni shop" format, and 50 car wash units.

Key performance/sustainability indicators		2008	2009	2010
Employee injury frequency rate	(no. of accidents per million hours worked)	2.88	3.18	1.77
Net sales from operation(a)	(€ million)	45,017	31,769	43,190
Operating profit		(988)	(102)	149
Adjusted operating profit(b)		580	(357)	(171)
Adjusted net profit		521	(197)	(49)
Capital expenditures		965	635	711
Adjusted capital employed, net at year end		8,260	7,560	7,859
Adjusted ROACE	(%)	6.5	(2.6)	(0.6)
Refinery throughputs on own account	(mmtonnes)	35.84	34.55	34.80
Conversion index	(%)	58	60	61
Balanced capacity of refineries	(kbbl/d)	737	747	757
Retail sales of petroleum products in Europe	(mmtonnes)	12.03	12.02	11.73
Service stations in Europe at year end	(units)	5,956	5,986	6,167
Average throughput per service station in Europe	(kliters)	2,502	2,477	2,353
Employees at year end	(units)	8,327	8,166	8,022
Direct GHG emissions	(mmtonnes CO2eq)	7.74	7.29	7.76
SO2 emissions	(ktonnes)	23.18	21.98	27.14
Customer satisfaction index	(likert scale)	8.14	7.93	7.90

(a) Before elimination of intragroup sales.
(b) From January 1, 2010, management has reviewed the residual useful lives of refineries and related facilities due to a change in the expected pattern of consumption of the expected future economic benefit embodied in those assets. In doing so, the Company has aligned with practices prevailing among integrated oil companies, particularly the European companies. Management's conclusions have been supported by an independent technical review. The impact on 2010 operating profit has been €76 million.