Eni S.p.a. · MIL:ENI
Eni — Q3 2014 Earnings Presentation
17 slides from Eni's earnings presentation, Oct 30, 2014
Slide 1: Q3 2014 results
Q3 2014 results October 30th 2014 www.eni.com
Slide 2: Highlights
highlights e&p production in line with full year guidance exploration track record: 700 Mboe in 9 months g&p: EBIT breakeven in 2014 & strong cash flow generation continuous restructuring in mid-downstream record third quarter cash flow from operations 2
Slide 3: Cash flow from operations accelerating towards target
cash flow from operations accelerating towards target Q3 CFFO cumulated CFFO 9M cash billion € billion € 2010-12 exclude Snam 9 month cash covers capex and FY dividends 3
Slide 4: Q3 consolidated results
Q3 consolidated results adj. operating profit adj. net profit million € million € 3,438 scenario 3,032 1,169 impact 1,140 -12% +3% Δ YoY 4
Slide 5: E&P performance
e&p performance oil & gas production adj. operating profit kboe/d million € 1,653* 1,577 1,583 1,584 1,576 Brent 3,916 3,320 3,450 2,981 3,088 -21% * 1,619kboed net of Russian assets Δ YoY 5
Slide 6: Minsala discovery
Minsala discovery Minsala Marine 75 mt water depth Dev/Prod areas 35 km from the shore Exploration area 1 bln boe of resources in place (80% light oil) 65% operated w.i. Nenè Marine Litchendjili Marine Minsala Marine Minsala Marine XII Total Resources in Place 3.5 billion boe 0 20 40 Km 6
Slide 7: G&P performance
g&p performance TTF adj. operating profit €/MWh million € 341 241 70 +68% -109 -344 Δ YoY 7
Slide 8: R&M performance
r&m performance Standard Eni Refining Margin (SERM) adj. operating profit $/bbl million € 39 n.m -55 -92 -223 -219 Δ YoY 8
Slide 9: Other businesses: adjusted operating profit
other businesses: adjusted operating profit million € (111) (98) 11.7 220 155 -29.5 (52) (42) 19.2 (92) (65) 29.3 9
Slide 10: Net debt evolution
net debt evolution billion € 0.8 15.8 15.0 9.7 4.3 8.6 3.2 10
Slide 11: Appendix
appendix
Slide 12: Results of operations
results of operations million € Q3 13 Q3 14 9M 13 9M 14 Δ% 28,775 26,600 Net sales from operations 89,062 83,156 3,302 2,579 Operating Profit 8,640 8,480 (1.9) (5) 190 Exclusion of inventory holding (gains) losses 331 205 3,297 2,769 Replacement Cost Operating Profit 8,971 8,685 (3.2) 141 263 Specia
Slide 13: Main operating data
main operating data million € Q3 13 Q3 14 9M 13 9M 14 Δ% 1,653 1,576 Hydrocarbon prod. (kboe/d) 1,633 1,581 (3.2) 141.8 138.5 Production sold* (mmboe) 417.9 406.2 (2.8) 6.13 7.24 Natural gas sales in Italy** (bcm) 25.16 25.69 2.1 11.64 11.67 Natural gas sales international*** (bcm) 40.53 37.56 (7.3)
Slide 14: Production by geographical area
production by geographical area kboe/d -4.7% 1,653 1,576 284 294 117 90 131 76 377 317 596 584 189 174 14
Slide 15: Oil & gas production
oil & gas production kboe/d -4.7% 1,653 1,653 1,576 1,576 189 174 851 812 1,464 1,402 802 764 15
Slide 16: Capex
capex million € 0.6% 3,064 3,083 103 77 190 146 112 171 36 63 2,712 2,537 16
Slide 17: Eni consolidated results
eni consolidated results -56% 3% 1.09 EPS 0.48 0.32 0.31 Euro per share* 28% 14% 1.75 1.15 0.99 CFPS 0.96 Euro per share* * Continuing operations. Average shares: Q3 13 3,622.8 million; Q3 14 3,608.3 million Note: Cash Flow calculated as net profit + depreciation, depletion and amortization 17