Società controllate e partecipate Eni


Serfactoring is an expression of Eni’s cooperation with some of Italy’s leading banks.

Serfactoring is an expression of Eni’s cooperation with some of Italy’s leading banks. The company’s main object  is the activity of granting loans “not reserved and not to the public”  as defined and regulated under the regulations governing the sector. Established  in 1984, it operates within the Eni Group, offering its services to the contracted suppliers and to group companies.  Performs activities of  organised and coordinated management, liquidation   and collection of receivables, including future receivables, individually or in bulk, in  euro or other currencies, however trade-related. The company also provides lending services to employees of Eni and its subsidiaries.


Board of Directors

The Board of Directors of Serfactoring was appointed by the Shareholders’ Meeting of 23/01/2022 for three years, and will continue  in office until the approval of the 2023 financial statements  and its composition is as follows:

  • Ernesto Formichella, Chairman
  • Stefano Leofreddi, Chief Executive Officer
  • Clotilde Maria Tondini, Director

Board of Statutory Auditors

The Serfactoring Board of Statutory Auditors was appointed by the Shareholders’ Meeting on 16.04.2019 for three years,  will continue in office until the approval of the 2021 financial statements and its composition is as follows:

  • Alberto Falini, Chairman 
  • Maura Campra, Standing Statutory Auditor
  • Francesco Messina, Standing Statutory Auditor
  • Franca Abate, Substitute Statutory Auditor
  • Luigi Coletta, Substitute Statutory Auditor 
  • External Audit Firm: PricewaterhouseCoopers SpA (engagement approved  by the Shareholders’ Meeting on  10/07/2018 for the 2019-2021 period)

External Audit Firm (Reconta Ernst & Young SpA: engagement approved  by the Shareholders’ Meeting on 19/04/2010 for the  2010-2018 period)

Model 231 for Small Businesses

New Model 231 for Small Businesses adopted by Serfactoring, approved by the Board of Directors on 25 July 2018, includes the Eni Code of Ethics and consists of a body of principles, rules and instructions functional to the establishment and management of a system of control and monitoring of sensitive activities in order to prevent the commission of offences provided for by Legislative Decree. n. 231 of 2001. The role of overseeing the effective application and management of  the Model 231 for Small Businesses has been assigned to the Serfactoring Watch Structure. The Guarantor of the Code of Ethics is assigned to Eni Watch Structure.



Factoring is a comprehensive  system of coordinated and specialized services that enable businesses to more efficiently manage that part of its working capital consisting of trade receivables from customers. In Italy the factoring contract is  are governed by a regulatory framework comprising Articles 1260 and following  of the Civil Code and the Law n. 52 of 21 February 1991. The legal factoring operation premise  is the assignment of credit which  implements the transfer of the legal ownership of credit  from the supplier (assignor) to the Factoring Company (transferee).
In the current evolution of the market, factoring looks  not only  as a financial instrument but also as a global management system of a company’s receivables portfolio, through the combination of three main components:

  • the management component: affects all the administrative tasks concerning the management  collection of receivables and represents, for the client company,  the possibility of effectively outsource these activities by taking advantage of the added value and scale economies  resulting from the intervention of a skilled  

  • the guarantee component: is achieved through appropriate contractual arrangements to transfer to the factoring company the commercial risks relating to the assigned credit.

  • the credit component: it’s realized in the advance of  payment of trade receivables  by the Factoring company to its customers. Factoring does not provide the businesses  with additional financial resources but makes liquid resources which still form part of their current assets.

Employees loans services

This activity involves providing loans  at special rates  to Eni personnel. They can access loans  Eni employees into contracts of indefinite duration in Italy. The activity is regulated by Eni policies and specific internal procedures.

E-factoring services

E-factoring services allow clients to browse, using a web interface, accounting information relating to the factoring relationship, to download relevant files and to input and submit data on the transfer of receivables. Serfactoring offers the service via the e-finance Internet portal made available by Eni SpA, with which the company has signed a special agreement. The service is aimed at a more rapid and effective exchange of information.  They can be consulted data  relates to operations booked to the accounts one business day prior to that of access. Such data are informative. Only the official records contained in the accounting documents sent by Serfactoring by the usual channels can be considered official. For more information and to adhere to e-factoring services, clients can send an e-mail to the following address or contact the Client Development and Management office.

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Serfactoring Org Chart

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Anti-corruption and Declaration (only Italian version)

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MSG Declaration Eni-DU-ITA (only Italian version)

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Report on complaints management 2018 (only Italian version)

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Annual Report 2020 - (only Italian version)

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Annual Report 2019 – (only Italian version)

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Annual Report 2017 - (only Italian version)

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Annual Report 2016 - (only Italian version)

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Annual Report 2015 - (only Italian version)

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Annual Report 2014 - (only Italian version)

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