Slide 1: 2012 first quarter results
2012 first quarter results 27 April 2012 eni.com
Slide 2: Q1 results: highlights
Q1 results: highlights E&P: further strengthened long-term growth prospects • Exploration success continuing : ~1 bn boe of new exploration resources added in Q1 • Strategic agreement with Rosneft provides access to high potential licenses G&P: closure of Gazprom renegotiation Benefits retroactive
Slide 3: market environment
market environment Average European Brent €/$ exchange rate refining margin* $/bl €/bl $/bl €/bl USD Euro * Brent/Ural FOB Mediterranean market. Eni calculations on Platt’s Oilgram data 3
Slide 4: Q1 consolidated results
Q1 consolidated results Adj. operating profit Adj. net profit Million € Million € 6,452 5,099 2,480 2,198 4
Slide 5: E&P performance
E&P performance Oil & gas production Adj. operating profit kboe/d Million € 5,100 1,684 1,678 1,674 1,489 1,473 4,120 4,200 3,931 3,826 Q1 11 Q2 11 Q3 11 Q4 11 Q1 12 Q1 11 Q2 11 Q3 11 Q4 11 Q1 12 Gas Oil 5
Slide 6: G&P performance
G&P performance Gas sales Adj. operating profit Bcm Million € 31.6 1,504 29.9 24.7 20.3 958 17.3 352 385 251 Q1 11 Q2 11 Q3 11 Q4 11 Q1 12 Q1 11 Q2 11 Q3 11 Q4 11 Q1 12 International* Italy * Including associates 6
Slide 7: G&P: ebitda proforma adjusted
G&P: ebitda proforma adjusted* million € 1,432 1,641 1,054 921 825 675 623 338 550 Q1 10 Q2 10 Q3 10 Q4 10 Q1 11 Q2 11 Q3 11 Q4 11 Q1 12 International Regulated Marketing Transport businesses in Italy * Ebitda pro forma includes: pro-quota ebitda contribution from SRG and associates 7
Slide 8: R&M performance
R&M performance Process utilization index Adj. operating profit % Million € 26 82 83 75 73 63 -114 -176 -228 -271 Q1 11 Q2 11 Q3 11 Q1 12 Q1 11 Q2 11 Q3 11 Q4 11 Q1 12 Q4 11 8
Slide 9: other businesses: adjusted operating profit
other businesses: adjusted operating profit million € Q1 Q1 Δ% 2011 2012 Chemicals (12) (162) N.S. Engineering & Construction 342 374 9.4 Other activities (45) (46) -2.2 Corporate (84) (81) 3.6 9
Slide 10: net debt evolution
net debt evolution billion € 28.0 4.2 0.2 27.4 2.9 0.5 10
Slide 11: Appendix
Appendix April 27th, 2012 eni.com
Slide 12: results of operations
results of operations million € Q4 11 Q1 11 Q1 12 Δ% 30,102 Net sales from operations 28,779 33,475 3,483 Operating Profit 5,638 6,834 21.2 (136) Inventory holding gains (losses) (669) (412) 3,347 Replacement Cost Operating Profit 4,969 6,422 29.2 912 Special items 130 30 4,259 Adjusted Profit 5,099
Slide 13: G&P: adjusted operating profit by activities
G&P: adjusted operating profit by activities million € 57.0% 1,504 92 International Transport 573 Regulated business in Italy 958 116 554 Marketing 839 288 Q1 11 Q1 12 3
Slide 14: unrealized profit in stocks (UPIS)
unrealized profit in stocks (UPIS) million € Q4 11 Q1 11 Q1 12 (205) E&P vs R&M (14) (7) 25 E&P vs G&P 20 3 (23) E&C vs Eni Group (10) (5) (203) Total UPIS (4) (9) 4
Slide 15: eni share of profit from associates
eni share of profit from associates Q4 Q1 2011 2011 2012 100 Equity method accounted for 150 160 12 Gas transportation abroad 20 1 4 EnBw (GVS) 2 0 38 Union Fenosa 42 63 9 Blue Stream 9 10 37 Others 77 86 191 Dividends 114 24 (1) Disposals 0 0 42 Others 1 0 332 Net income from associates 2
Slide 16: G&P share of profit from associates
G&P share of profit from associates million € +1.8% 115 113 1 12 20 12 102 81 Q1 11 Q1 12 Marketing Regulated business in Italy International Transport 6
Slide 17: main operating data
main operating data Q4 11 Q1 11 Q1 12 Δ% 1,678 Hydrocarbon prod. (kboe/d) 1,684 1,674 (0.6) 143.7 Production sold* (mmboe) 145.7 148.4 1.9 9.3 Natural gas sales in Italy**(bcm) 12.0 12.2 1.4 14.0 Natural gas sales in Europe*** (bcm) 18.3 16.3 (10.8) 18.9 Natural gas transported in Italy (b
Slide 18: production growth by geographical area
production growth by geographical area kboe/d -0.6% 1,684 1,674 370 358 131 119 117 111 375 333 505 566 186 187 Q1 11 Q1 12 Italy North Af rica West Af rica Kazakhstan America RoW 8
Slide 19: oil & gas production
oil & gas production kboe/d -0.6% 1,684 1,684 1,674 1,674 186 187 899 867 1,498 1,487 785 807 Q1 11 Q1 12 Q1 11 Q1 12 Abroad Italy Gas Liquids 9
Slide 20: capex
capex million € (0.1)% 2,875 2,871 167 143 345 315 132 124 279 271 1,952 2,018 Q1 11 Q1 12 E&P G&P R&M E&C Other 10
Slide 21: eni consolidated results
eni consolidated results 42% 12.8% 1.0 0.68 0.70 0.61 EPS Euro per share* Q1 11 Q1 12 Q1 11 Q1 12 Adjusted Adjusted 27.7% 11.9% 1.65 1.19 1.33 1.29 CFPS Euro per share* Q1 11 Q1 12 Q1 11 Q1 12 Adjusted Adjusted * Average shares: Q1 11 3,622.5 million; Q1 12 3,622.7 million Note: Cash Flow calculated