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    ENI   IT0003132476

ENI S.P.A.

(ENI)
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Eni S p A : results for the second quarter and half year 2021

07/30/2021 | 02:39am EDT

Eni's Board of Directors, chaired by Lucia Calvosa, yesterday approved the unaudited consolidated results for the second quarter and first half 2021. Eni CEO Claudio Descalzi said:


'Eni delivered exceptional results in the second quarter of the year, continuing the upward trend of the last three quarters and beating market expectations across all of its business segments. With an improved macro backdrop and energy market fundamentals, the Group reported €2 billion of EBIT and €0.93 billion of net profit, a €1.6 billion increase compared to the second quarter of 2020.


Group results were driven by a robust performance from the E&P segment, which recorded €1.84 billion of EBIT, up by €2.6 billion from the same quarter last year. The newly incorporated Eni gas e luce & Renewables division reported €70 million of EBIT, an increase of €50 million over the comparative period due to a growing customer base and higher revenue from value-added services. In renewables, we are going to exceed our 2021 target, reaching 2 GW of installed and in-construction power capacity. Finally, the Chemicals business reported around €200 million of EBIT, an increase of €270 million.


The strong performances across our business and a continued focus on capital discipline resulted in strong cash flow generation in the first half of 2021 with €1.82 billion of free cash flow after organic capital expenditure.


These results, the progress on delivering our strategy, the outlook, and a Brent reference scenario of 65 $/bbl, have allowed us to increase our dividend back to pre-COVID levels at €0.86 per share, with 50% paid next September. We will also start a €400 million share buy-back program over the next 6 months.'

The full version of the Press Release is available in PDF format.

Disclaimer

Eni S.p.A. published this content on 30 July 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 July 2021 06:38:04 UTC.


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Financials
Sales 2021 69 021 M 80 927 M 80 927 M
Net income 2021 2 987 M 3 502 M 3 502 M
Net Debt 2021 16 863 M 19 772 M 19 772 M
P/E ratio 2021 12,9x
Yield 2021 7,85%
Capitalization 37 135 M 43 581 M 43 541 M
EV / Sales 2021 0,78x
EV / Sales 2022 0,72x
Nbr of Employees 31 436
Free-Float 67,8%
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 26
Last Close Price 10,94 €
Average target price 12,09 €
Spread / Average Target 10,5%
EPS Revisions
Managers and Directors
Claudio Descalzi Chief Executive Officer, Director & GM
Francesco Gattei Chief Financial Officer
Lucia Calvosa Chairman
Francesca Zarri Director-Technology, Digital, R&D
Giuseppe Ricci Chief Operating Officer-Energy Evolution
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