Slide 1: 2010 first quarter results
2010 first quarter results 23 April 2010 eni.com
Slide 2: market environment
market environment Average European Brent €/$ exchange rate refining margin* $/bl €/bl $/bl €/bl 90 90 6 6 1,6 5 5 75 75 1,5 4 4 60 60 3 3 1,4 2 2 45 45 1,3 1 1 30 30 0 0 1,2 Q109 Q209 Q309 Q409 Q110 Q109 Q209 Q309 Q409 Q110 Q109 Q209 Q309 Q409 Q110 * FOB Mediterranean market. Eni calculations on Pl
Slide 3: Q1 consolidated results
Q1 consolidated results Adj. operating profit Adj. net profit Million € Million € 4,331 3,754 1,822 1,759 Q1 09 E&P G&P R&M Other Q1 10 Q1 09 Ebit adj Inv/Fin Taxes Minor Q1 10 Ch 3
Slide 4: E&P performance
E&P performance Oil & gas production Adj. operating profit kboe/d Million € 1,886 1,779 1,816 3,118 1,733 1,678 2,804 2,443 2,173 2,064 Q1 09 Q2 09 Q3 09 Q4 09 Q1 10 Q1 09 Q2 09 Q309 Q4 09 Q1 10 Oil Gas 4
Slide 5: G&P performance
G&P performance Gas sales Adj. operating profit Bcm Million € 30.9 1,363 28.9 1,267 26.6 1,127 21.1 19.0 690 721 Q1 09 Q2 09 Q309 Q4 09 Q1 10 Q1 09 Q2 09 Q3 09 Q4 09 Q1 10 Italy International* * Including associates 5
Slide 6: G&P: ebitda proforma adjusted*
G&P: ebitda proforma adjusted* million € 1,720 1,432 1,159 821 703 Q1 09 Q2 09 Q3 09 Q4 09 Q1 10 Marketing Regulated International businesses in Italy Transport * Ebitda pro forma includes: pro-quota ebitda contribution from SRG and associates 6
Slide 7: R&M performance
R&M performance Process utilization index Adj. operating profit % Million € 81 79 78 55 73 70 -94 -106 -110 -196 Q1 09 Q2 09 Q3 09 Q4 09 Q1 10 Q1 09 Q2 09 Q3 09 Q4 09 Q1 10 7
Slide 8: other businesses: adjusted operating profit
other businesses: adjusted operating profit million € Q1 Q1 Δ% 2009 2010 Petrochemicals (111) (59) +47% Engineering & Construction 272 289 +6% Other activities (55) (57) -4% Corporate (58) (65) -12% 8
Slide 9: sources and uses of cash
sources and uses of cash billion € 5.6 0.2 5.3 0.8 0.7 Sources Uses 5.1 4.2 4.9 Cash flow from 3.3 Capex 0.3 operations 5.4 0.3 0.5 Divestments Acquisitions 4.6 Others Others 3.1 2.8 Q1 2009 Q1 2010 9
Slide 10: Appendix
Appendix 23 April 2010 eni.com
Slide 11: results of operations
results of operations million € Q4 09 Q1 09 Q1 10 Δ% 22,077 Net sales from operations 23,741 24,804 2,466 Reported Operating Profit 3,967 4,847 22.2 (135) Inventory holding losses (gains) 125 (409) 2,331 Replacement Cost Operating Profit 4,092 4,438 8.5 1,371 Special items (338) (107) 3,702 Adjusted
Slide 12: G&P: adjusted operating profit by activities
G&P: adjusted operating profit by activities million € -7.0% 1,363 1,267 120 120 International Transport 469 533 Regulated business in Italy 774 614 Marketing Q1 09 Q1 10 12
Slide 13: unrealized profit in stocks (UPIS)
unrealized profit in stocks (UPIS) million € Q1 09 Q1 10 E&P vs R&M 15 (75) E&P vs G&P 107 17 E&C vs Eni Group (7) (10) Total UPIS 115 (68) 13
Slide 14: eni share of profit from associates
eni share of profit from associates Q1 2009 2010 Equity method accounted for 110 169 Gas transportation abroad 17 22 EnBw (GVS) 6 2 Union Fenosa 42 36 Blue Stream 7 9 Others 38 100 Dividends 17 42 Disposals - - Others 4 (1) Net income from associates 131 210 14
Slide 15: G&P share of profit from associates
G&P share of profit from associates million € -2% 100 98 17 22 7 11 76 65 Q1 09 Q1 10 Marketing Regulated business in Italy International Transport 15
Slide 16: main operating data
main operating data Q4 09 Q1 09 Q1 10 Δ% 1,886 Hydrocarbon prod. (kboe/d) 1,779 1,816 2.1 166.8 Production sold* (mmboe) 154.2 156.3 1.4 10.0 Natural gas sales in Italy**(bcm) 13.2 10.9 (17.7) 14.1 Natural gas sales in Europe*** (bcm) 15.0 15.5 2.8 11.7 Natural gas transported on behalf 9.
Slide 17: production growth by geographical area
production growth by geographical area kboe/d 2.1% 1,779 1,816 382 426 156 135 119 120 330 401 595 579 174 178 Q1 09 Q1 10 Italy North Africa West Africa Kazakhstan America RoW 17
Slide 18: oil & gas production
oil & gas production kboe/d 2.1% 1,779 1,816 1,779 1,816 174 2.3% 178 1,013 -0.2% 1,011 1,605 2.1% 1,638 766 5.1% 805 Q1 09 Q1 10 Q1 09 Q1 10 Abroad Italy Gas Liquids 18
Slide 19: capex
capex million € -11.7% 29 3,147 2,779 495 85 412 390 118 310 1,964 2,148 Q1 09 Q1 10 (25) E&P G&P R&M E&C Other 19
Slide 20: eni consolidated results
eni consolidated results 15% 2% 0.61 0.49 0.50 0.53 EPS Euro per share* Q1 09 Q1 10 Q1 09 Q1 10 Adjusted Adjusted 8% 1% 1.22 1.10 1.13 1.08 CFPS Euro per share* Q1 09 Q1 10 Q1 09 Q1 10 Adjusted Adjusted * Average shares: Q1 09 3,622.4 million; Q1 10 3,622.4 million Note: Cash Flow calculated as net
Slide 21: Disclaimer
Disclaimer This presentation contains forward-looking statements regarding future events and the future results of Eni that are based on current expectations, estimates, forecasts, and projections about the industries in which Eni operates and the beliefs and assumptions of the management of Eni. In