Eni closed the third quarter of 2025 with results showing strong growth and exceeding expectations, which CEO Claudio Descalzi defined as excellent in a rather challenging context for energy companies. The generation of value for shareholders was also confirmed, thanks to an increase in the share buyback plan to 1.8 billion euros.
The numbers for the quarter and nine months
Eni closed the third quarter with a very strong net profit growth of 803 million euros, an increase of 54% compared to the 522 million of the previous year, while the adjusted net profit, which excludes a series of extraordinary items, was slightly down to 1.247 billion euros (-2%).
The adjusted pro forma EBIT consolidated around 3 billion, in a context characterized by weaker energy prices and an appreciating euro against the dollar. Overall hydrocarbon production increased 6% year-on-year and 5% from the previous quarter, reaching 1.76 million barrels equivalent per day.
As regards the nine months, there was an increase in net profit of 5% to 2.518 billion euros, compared to 2.394 billion in the previous year, while the adjusted net profit stood at approximately 3.8 billion (-13%) and the adjusted operating profit at approximately 9.4 billion (-19%).
Adjusted operating cash flow increased by 14% to 3.3 billion euros, significantly exceeding investments of 2 billion. Net debt fell to 9.9 billion, with a book leverage ratio of 19% (12% on a pro forma basis).
CEO Descalzi’s comment
“The third quarter results are excellent and all key operational, economic and financial variables exceeded expectations”
commented the CEO, Claudio Descalzi, who also announces an upward revision of the guidance on crude oil production for 2025 up to 1.72 million barrels/day thanks to the new fields under development in Congo, United Arab Emirates, Qatar and Libya.
Descalzi also confirmed the progress of the transition strategy.
“The plan to upgrade the Sannazzaro hub and convert Priolo mark new biorefining development projects and contribute to our downstream transformation plan; at the same time Plenitude has reached 4.8 GW of installed renewable generation capacity, in line with the increase which reaches 5.5 GW by the end of the year”
the manager explained.
Upwardly revised buyback plan and dividends
In light of strategic progress and solid cash generation, Eni has revised its share buyback program upwards for 2025, bringing it to 1.8 billion euros, up 20% compared to the previous forecast.
The 5% increase in the dividend was also confirmed, to 1.05 euros per share; the second tranche, equal to 0.26 euros, will be paid on November 26th. For the full year, the company expects operating cash flow of 12 billion euros.
