Eni S.p.a. · MIL:ENI
Eni — Enilive — Investor Presentation (May 2024)
18 slides from Eni's investor presentation, May 2024
Slide 1: Enilive Market Presentation
ENILIVE Market Presentation MAY 2024
Slide 2: A Robust Macro for RD/SAF Market
A ROBUST MACRO FOR RD/SAF MARKET LONG-TERM PERSPECTIVES DRIVEN BY HARD-TO-ABATE SECTOR DECARBONISATION WORLD RENEWABLE DIESEL/SAF DEMAND | Mton/y N. AMERICA EUROPE CAGR 2022-2050 ENILIVE TARGET MARKETS RD SAF 46 RD SAF 40 +25% ~90% 35 SAF of 2022-2050 additional 30 biofuel demand AVIATION HARD TO AB
Slide 3: Policy Support and Customers' Demand
POLICY SUPPORT CUSTOMERS’ DEMAND FRAMEWORK FURTHER UNDERPINNED BY VOLUNTARY DEMAND IN PLACE PROPOSED Clean Fuel Regulations -15% Fuel Carbon intensity 2030 UK - Jet Zero Strategy B.C. LCFS 10% SAF 2030, 22% 2040 -30% Fuel Carbon intensity 2030 US - SAF Grand Challenge Renewable Fuel Standard (RFS2)
Slide 4: Enilive Distinctive Elements
ENILIVE DISTINCTIVE ELEMENTS INVESTING IN OUR STRENGTHS TO DRIVE BUSINESS AND EARNINGS GROWTH 3rd largest HVO/SAF operator in the world, 2nd in Europe FIRST MOVER INTO and 1st among energy majors BIOREFINERY CONVERSION Almost 10 years of successful biorefining operations and conversion track record
Slide 5: Significant Biorefining Growth
SIGNIFICANT BIOREFINING GROWTH MAINTAINING WORLD-CLASS LEADERSHIP IN BIOREFINING EXPANDING CAPACITY UNIQUE ADVANTAGED PRODUCT OPTIMISED CAPEX & SCHEDULE DIVERSIFICATION FOR CAPACITY AND SAF Strengthening Europe FEEDSTOCK STRATEGY OPTIONALITY GROWTH Expanding Far East Secure agri-feedstock access Acc
Slide 6: Ecofining: Enabler of Transformation
ECOFINING: ENABLER OF TRANSFORMATION KEY PROPRIETARY TECHNOLOGY AT THE HEART OF OUR BIOREFINING FLEXIBLE PROCESS – MULTIPLE FEEDSTOCKS – QUALITY ENSURED • Ecofining, thanks to hydrogen, completely removes oxygen from organic feedstocks to obtain HVO* • HVO is a high-quality biofuel with high convers
Slide 7: HVO/HEFA Sustainable Feedstock Availability
HVO/HEFA SUSTAINABLE FEEDSTOCK AVAILABILITY NOVEL VEGETABLE OILS SUPPORT THE RISING BIOFUELS DEMAND POTENTIAL HVO/HEFA SUSTAINABLE FEEDSTOCK AVAILABILITY 2050 | MTON/Y NOVEL VEGETABLE OILS FIRST MOVER 200+ LEADING POSITION WASTES COVER NON-FOOD CROPS AGRICULTURAL AND RESIDUES CROPS DEGRADED LAND RES
Slide 8: Agri Feedstock Vertical Integration
AGRI FEEDSTOCK VERTICAL INTEGRATION DISTINGUISHING MODEL BASED ON AGRICULTURE AND RESIDUES VALORIZATION WITH WIDE AND DIVERSIFIED PORTFOLIO OF COUNTRIES AND FEEDSTOCK EU RED III ANNEX IX REVISION UPSIDE KEY FEATURES SECURITY OF SUPPLY 700kt+ in 2027, >1Mt in 2030 COMPETITIVE COST 20-30% saving vs ma
Slide 9: SAF Optionality: Accelerated Target
SAF OPTIONALITY: ACCELERATED TARGET FOCUS ON HIGH-VALUE ADDED PRODUCTS OPTIONALITY IN A FLEXIBLE PRODUCTION SYSTEM HVO DIESEL HVO NAPHTHA HVO-LPG Pure HVO already available in 640+ Integration with Gasoline blending optionality retail stations Versalis crackers and JV with international Invested to
Slide 10: Marketing & Trading
MARKETING & TRADING DOWNSTREAM INTEGRATION AND TRADING TO SUPPORT BIOFUELS GLOBAL FOOTPRINT IN FEEDSTOCK SOURCING ENILIVE STATION AS A GROWING HVO OUTLET* 5,267 Total number of stations 527 Venice Livorno 157 325 Chalmette 265 Gela Daesan Biorefineries (existing) 3,976 17 Pengerang Biorefineries (pl
Slide 11: Marketing Strategic Drivers
MARKETING STRATEGIC DRIVERS FROM SERVICE STATIONS TO MOBILITY PLATFORMS NETWORK EXPANSION ALTERNATIVE ENERGY CARRIERS STRATEGIC INTEGRATION WITH & HIGH-GRADING MARKETING OFFERS BENEFITS AND PREMIUM NETWORK +300 owned HYDROGENATED VEGETABLE OIL (HVO) CAPTIVE MARKET ALONG THE stations in Italy & abroa
Slide 12: Enilive: Financials
ENILIVE: FINANCIALS ATTRACTIVE GROWTH WITH WELL-CONTROLLED COST PROFILE STRONG EBITDA INCREASE IN THE 4YP MARKETING EBITDA PRO-FORMA EBITDA ADJ | BLN € ORGANIC CAPEX | BLN € PROVIDING STEADY CONTRIBUTION 0.5 BIOREFINING EBITDA UNDERPINNED BY CAPACITY >1.6 GROWTH & THROUGHPUT INCREASE 35% 1.2 ~€0.4BL
Slide 13: Annex
ANNEX
Slide 14: Biorefinery Products
BIOREFINERY PRODUCTS A PREMIUM, SUSTAINABLE PORTFOLIO BIOFUELS BIOFUELS IN COMPARISON HVO FAME HVOLUTION: High stability & total High fouling power CHARACTERISTICS OF ENI’S HVO1 MADE absence of deposits formation of deposits due to FROM OUR ECOFINING TECHNOLOGY O2 replaced by H2 presence of O2 100%
Slide 15: Emissivity
EMISSIVITY LIFE CYCLE ASSESSMENT (LCA) The calculation of emissions over the entire life cycle shows that even in the long term, a 100% HVO vehicle is comparable to an electric or hydrogen car. EMISSIONS MAIN EMISSION SOURCES IN LCA PERSPECTIVE gCO2e/km VEHICLE USE OF PRODUCTION THE VEHICLE 227 Lege
Slide 16: Agri Feedstock Initiatives
AGRI FEEDSTOCK INITIATIVES GLOBAL PRESENCE WITH A DIVERSIFIED PORTFOLIO AGRI FEEDSTOCK FIRST OIL 2022 Kenya 2023 Congo, Italy, Ivory Coast, Mozambique, Kazakhstan KAZAKHSTAN & Vietnam ITALY MAIN SELECTION CRITERIAS ALGERIA LEGACY COUNTRIES VIETNAM Upstream presence GUINEA BISSAU INDONESIA LAND AVAIL
Slide 17: Agri Feedstock Unique Model
AGRI FEEDSTOCK UNIQUE MODEL AGRICULTURAL PRODUCTION AGRICULTURAL SUPPLY CHAIN SMALL FARMERS Cultivation of non-food crops on Cultivation entrusted to farmers (access to land) degraded land (according to EU RED) Cultivation without irrigation LARGE FARMERS Promotion of best agricultural practices and
Slide 18: Chalmette Bio-Refinery
CHALMETTE BIO-REFINERY JV - WORKING INTEREST 50% 550 KTON/Y DIRECTION EAST COAST Eni Capacity USA/CANADA STRATEGIC HIGHLIGHTS FROM MIDWEST Strategically located on Mississippi DIRECTION river close to Gulf of Mexico WEST COAST USA/CANADA (Ship/Rail) RENEWABLE FUEL PRODUCTION Wide range of optionalit