Eni He closed the 2024 exercise with results in line with the Guidance and confirms the growth and creation of value impressed by his activity portfolio and by the satellite model, which has concretized over 21 billion of business value during the year. This is what emerged from the report on Budget 2024which closes with a rectified net profit of 5.2 billion euros.
“In 2024, value growth and creation reached a level of excellence, supported by our financial structure and by the regulation in costs,” explained the CEO Claudio Descalziadding “We continue to extract value from our resource portfolio”, with the Oil sector that continues to grow in terms of resources and geographically and the chemistry that has started a restructuring and transformation process, while full and Henilive have achieved their annual objectives in terms of Ebitda, despite the challenge of market context.
The results of the year 2024
Eni closes the 2024 exercise with a net profit of Adjusted of over 5.2 billion eurosin line with the forecasts, albeit 37% decreasing compared to the 8.3 billion of the previous year, after having accounted for “special items” (non -recurring items) for 2.3 billion euros. On an annual basis, the operating profit of the group of the group equal to over 14.3 billion is falling by 20% compared to 2023, as a result of the extent of the exceptional results of the Gas & Power sector (GGP).
There production of hydrocarbons on annual base is equal to 1.71 mln Boe/G (+3%), while the capacity installed by renewable sources It is increasing by 37% to 4.1 GW; Bio -growing 29%processing.
The Net Cassa flow From operational activity of 2024 equal to 13.1 billion, it includes 1.9 billion of dividends distributed by the investee companies, while the flow of net cash on the variation circulating at the replacement cost Adjusted is redefined in 13.6 billion in the year 2024.
The Investments (Capex) staff of 8.8 billion in 2024 They record a 4% reduction compared to 2023. Net of these organic capex, the discretionary cash flow before the circulating vanishing is redetermined in about 5 billion, capable of covering the remuneration of shareholders, which includes an increased dividend compared to 2023 and an accelerated rhythm in the program for the reappear of its own shares almost doubled at 2 billion.
The numbers of the 4th quarter
In the fourth quarter 2024, production of hydrocarbons equal to 1.72 mln Boe/Gensuring reliable and competitive energy supplies.
In the fourth quarter 2024 a Operating profit of 2.7 billion adjusted proformd (-28%) and a Net profit Adjusted of 0.9 billion (-46%). The Adjusted cash flow is equal to 2.9 billion, supported by the continuous progress in the implementation of the strategy, the contribution of the new projects and the financial discipline.
The agreement with Petronas
Eni has signed a Memorandum of Undersanding with Petronas, aimed at creating a joint venture for the management of Asset Upstream in Indonesia and Malaysia. Companies believe that this JV will create significant growth opportunities and can generate effective synergies to become one of the main operators in the GNL sector in the region, guaranteeing a medium term sustainable production of 500 thousand barrels of oil equivalent to the day.
The reserves of the joint venture amount to about 3 billion barrels of equivalent oil (Boe), and the exploratory potential is about 10 billion buoys.
The joint venture will focus on investments in new gas development projectsreflecting the commitment of companies in the energy transition and supporting the growing regional gas demand.
