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MarketScreener Homepage  >  Equities  >  Italian Stock Exchange  >  Eni S.p.A.    ENI   IT0003132476

ENI S.P.A.

(ENI)
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Eni S p A : Italy's Eni beats expectations in fourth quarter after 'year like no other'

02/19/2021 | 03:31am EST
FILE PHOTO: The logo of Italian energy company Eni is seen at a gas station in Rome

MILAN (Reuters) - Italian energy group Eni beat expectations by swinging into a profit in the fourth quarter thanks to firmer oil prices, after posting a loss for the full-year 2020 when demand plunged because of the coronavirus crisis.

Eni said it recorded an adjusted net profit in the fourth quarter of 0.66 billion euros ($798 million), beating an analyst consensus provided by the company of a loss of 0.04 billion euros. It posted a third-quarter loss of 0.15 billion euros.

For the full year, it reported a loss of 742 million euros compared to a 2.876 billion euro profit in 2019 after what Eni Chief Executive Claudio Descalzi said had been "a year like no other in the history of the energy industry".

The unprecedented fall in demand triggered by the COVID-19 pandemic led bigger European rivals Shell and BP and U.S. majors Exxon Mobil and Chevron to report heavy losses for the year.

Eni said production in the period fell 11% to 1.713 million barrels of oil equivalent per day but the company said full-year production was in line with target.

Adjusted cash flow for the year fell to 6.7 billion euros from 11.7 billion euros.

"Through leveraging the actions we put in place, our 2020 adjusted cash flow ... was able to finance our capex, with a surplus of 1.7 billion," Descalzi said.

Eni, like other European peers, is cleaning up its business as investors crank up pressure on the oil and gas sector to fight climate change.

It is due to release its new business plan later on Friday

($1 = 0.8271 euros)

(Reporting by Stephen Jewkes; Editing by Edmund Blair)


© Reuters 2021
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Financials
Sales 2020 47 742 M 56 563 M 56 563 M
Net income 2020 -7 423 M -8 794 M -8 794 M
Net Debt 2020 19 158 M 22 697 M 22 697 M
P/E ratio 2020 -4,77x
Yield 2020 4,03%
Capitalization 35 947 M 42 637 M 42 589 M
EV / Sales 2020 1,15x
EV / Sales 2021 0,93x
Nbr of Employees 32 053
Free-Float 67,0%
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Technical analysis trends ENI S.P.A.
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TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 26
Average target price 10,23 €
Last Close Price 10,06 €
Spread / Highest target 39,1%
Spread / Average Target 1,71%
Spread / Lowest Target -20,5%
EPS Revisions
Managers and Directors
NameTitle
Claudio Descalzi Chief Executive Officer, Director & GM
Francesco Gattei Chief Financial Officer
Lucia Calvosa Chairman
Stefano Maione Chief Operations, Technology & Development Officer
Luca Franceschini Executive Vice President-Integrated Compliance
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