Eni S.p.a. · MIL:ENI
Eni — Q1 2013 Earnings Presentation
20 slides from Eni's earnings presentation, Apr 24, 2013
Slide 1: 2013 first quarter results
2013 first quarter results 24 April 2013 eni.com
Slide 2: Q1 results: highlights
Q1 results: highlights E&P: confirmed growth prospects Libya and Nigeria impacted by extraordinary factors, largely resolved Start-ups and ramp-ups broadly on track Continued exploration success, acreage renewal G&P: negotiations progressing well Q1 results reflect weak demand, deteriorating
Slide 3: market environment
market environment Average European Brent €/$ exchange rate refining margin* $/bbl €/bbl $/bbl €/bbl 8 8 1.4 125 125 7 7 115 115 6 6 1.35 5 5 105 105 4 4 1.3 95 95 3 3 2 2 1.25 85 85 1 1 75 75 0 0 1.2 Q112 Q212 Q312 Q412 Q113 Q112 Q212 Q312 Q412 Q113 Q112 Q212 Q312 Q412 Q113 Euro USD * Brent/Ural FO
Slide 4: Q1 consolidated results
Q1 consolidated results Adj. operating profit * Adj. net profit * Million € Million € 5,965 2,360 3,792 1,434 Q1 12 Q1 13 *Figures exclude Snam contribution in Q1 2012 4
Slide 5: E&P performance
E&P performance Oil & gas production Adj. operating profit kboe/d Million € 1,718 1,747 1,683 1,656 1,600 5,095 4,867 4,234 4,331 3,999 Q1 12 Q2 12 Q3 12 Q4 12 Q1 13 Q1 12 Q2 12 Q3 12 Q4 12 Q1 13 Gas Oil 5
Slide 6: G&P performance
G&P performance Gas sales Adj. operating profit Bcm Million € 29.9 29.5 1,019 24.4 19.6 18.8 42 -148 -304 Q1 12 Q2 12 Q3 12 Q4 12 Q1 13 -402 Q1 12 Q2 12 Q3 12 Q4 12 Q1 13 International* Italy * Including associates and excluding e&p sales in Europe and in the Gulf of Mexico 6
Slide 7: R&M performance
R&M performance Process utilization index Adj. operating profit % Million € 51 69 70 68 64 62 -7 -144 -152 -224 Q1 12 Q2 12 Q3 12 Q4 12 Q1 13 Q1 12 Q2 12 Q3 12 Q4 12 Q1 13 7
Slide 8: other businesses: adjusted operating profit
other businesses: adjusted operating profit million € Q1 Q1 Δ% 2012 2013 Versalis (169) (63) 62.7 Engineering & Construction 378 204 -46.0 Other activities (45) (55) -22.2 Corporate (80) (82) -2.5 8
Slide 9: net debt evolution
net debt evolution billion € 0.1 16.0 3.1 15.5 2.8 9
Slide 10: Appendix
Appendix 24 April 2013 eni.com
Slide 11: results of operations
results of operations million € Q4 12 Q1 12 Q1 13 Δ% 32,523 Net sales from operations 33,140 31,165 1,650 Operating Profit cont. op. 6,549 3,834 (41.5) 560 Exclusion of inventory holding (gains) losses (412) 10 2,210 Replacement Cost Operating Profit cont. op 6,137 3,844 (37.4) 2,760 Special items 1
Slide 12: G&P: adjusted operating profit by activities
G&P: adjusted operating profit by activities million € 1,019 91 928 (148) 77 International Transport -225 Marketing Q1 12 Q1 13 3
Slide 13: unrealized intragroup profit eliminations (UPIS)
unrealized intragroup profit eliminations (UPIS) million € Q1 12 Q1 13 E&P vs R&M (7) 59 E&P vs G&P 3 30 E&C vs Eni Group (5) 0 Total UPIS (9) 89 4
Slide 14: eni share of profit from associates
eni share of profit from associates million € Q1 2012 2013 Equity method accounted for 148 63 Gas transportation abroad 5 1 EnBw (GVS) 0 3 Union Fenosa 63 (3) Blue Stream 10 14 Others 70 48 Dividends 24 35 Disposals 0 0 Others 0 41 Net income from associates 172 139 5
Slide 15: G&P share of profit from associates
G&P share of profit from associates million € -71.7% 106 8 98 30 1 29 Q1 12 Q1 13 Marketing International Transport 6
Slide 16: main operating data
main operating data Q4 12 Q1 12 Q1 13 Δ% 1,747 Hydrocarbon prod. (kboe/d) 1,683 1,600 (4.9) 154.4 Production sold* (mmboe) 149.2 135.8 (9.0) 10.15 Natural gas sales in Italy**(bcm) 12.15 12.53 3.1 12.9 Natural gas sales in the rest of Europe*** 16.3 15.1 (7.2) (bcm) 10.1 Power production s
Slide 17: production by geographical area
production by geographical area kboe/d -4.9% 1,683 1,600 360 331 119 119 111 103 335 313 570 554 188 180 Q1 12 Q1 13 Italy North Africa Sub-Saharan Africa Kazakhstan Am erica RoW 8
Slide 18: oil & gas production
oil & gas production kboe/d -4.9% 1,683 1,683 1,600 1,600 188 180 867 818 1,495 1,420 816 782 Q1 12 Q1 13 Q1 12 Q1 13 Abroad Italy Gas Liquids 9
Slide 19: capex
capex million € 18.5% 3,119 338 143 2,632 339 84 124 315 28 32 2,330 2,018 Q1 12 Q1 13 E&P G&P R&M E&C Other 10
Slide 20: eni consolidated results
eni consolidated results -56.1% -41.2% 0.98 0.68 EPS 0.43 0.40 Euro per share* Q1 12 Q1 13 Q1 12 Q1 13 Adjusted Adjusted -36.0% -23.7% 1.59 1.29 1.02 0.98 CFPS Euro per share* Q1 12 Q1 13 Q1 12 Q1 13 Adjusted Adjusted * Continuing operations. Average shares: Q1 12 3,622.7 million; Q1 12 3,622.8 mill