ENI Posts Q4 Adj. Net Profit Of EUR 0.9 Bln

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(RTTNews) - Eni (E), on Thursday, reported Q4 adjusted net profit of EUR 0.9 billion and group proforma adjusted EBIT of EUR 2.7 billion.

Q4 E&P proforma adjusted EBIT of EUR 2.8 billion was aided by the contribution of higher value barrels at new projects, strong execution, and cost control, despite weaker Brent prices impacting both y-o-y and sequential comparisons.

Q4 GGP and Power proforma adjusted EBIT was steady at EUR 0.28 billion, while Enilive proforma adjusted EBITDA totaled EUR 0.14 billion, benefited from the marketing performance, offsetting lower biofuels margins. In Q4, Plenitude proforma adjusted EBITDA was EUR 0.21 billion, driven by a solid performance in the retail market.

The adjusted cash flow of EUR 2.9 billion reflected continued strategic progress, new project ramp-ups, and financial discipline.

Eni CEO Claudio Descalzi said, "2024 was an exceptional year of growth and value creation for Eni, underpinned by our financial framework and our cost discipline. Our leading industry position comes from the competitiveness of our asset portfolio and the unique managerial and financial alignment of our satellite model which has unlocked more than €21 bln of enterprise value in the year."