ENI S.p.A. · MIL:ENI
ENI — H1 2015 Earnings Presentation
9 slides from ENI's earnings presentation, Jul 30, 2015
Slide 1: H1 interim results and strategy update
H1 interim results and strategy update Transformation drives performance 30 July 2015 www.eni.com
Slide 2: H1 highlights
H1 highlights strong production growth all mid-downstream profitable capex and opex reduction CFFO €5.7 bln: in line with H1 2014 2
Slide 3: E&P strong growth
e&p strong growth oil & gas production | kboe/d +9% 7 major start ups contracts renegotiations 2015 guidance raised from 5% to over 7% 3
Slide 4: E&P robust exploration performance
e&p robust exploration performance liquids oil&gas gas Libya Egypt USA Gabon Congo Indonesia target H1 Exp resources | Mln boe 500 300 UEC | $/boe >2 1.7 4
Slide 5: Mid-downstream beats economic targets
mid-downstream beats economic targets EBIT adj | bn € CFFO | bn € +3.4 +0.9 + 0.6 + 2.9 - 0.5 - 0.3 accelerated breakeven in Chemicals and Refining 5
Slide 6: Total cash improvement +€1.4 bn
H1 cost efficiency: significant across all sectors Opex - 10% Capex - 10% G&A - 25% total cash improvement +€ 1,4 bn At constant exchange rate 6
Slide 7: Economic performance
economic performance EBIT adj | bn € 6.2 scenario -3.8 Saipem 2.3 -0.9 +0.8 performance plan execution delivered € 800 mln Constant scenario: oil price, FX and refining margins 7
Slide 8: Strong cash generation
strong cash generation cumulated CFFO | 2015 CFFO and CAPEX | 2015 H1 6.3 H1 5.7 capex covered by operating cashflow 8
Slide 9: New target
business targets confirmed or increased new target 2015 production > 7% ebit positive from 2015 ebit positive from 2015 ebit breakeven from 2015 ebit breakeven from 2015 cash neutrality in 2015/2016 confirmed at ~60 $/bl Ebit refers to adjusted results 9