Slide 1: Interim update and Q3 results
interim update and Q3 results October 30th, 2012 eni.com
Slide 2: Q3 2012: highlights
Q3 2012: highlights Progress on strategic refocusing Completed disposal of 35% of Snam and 5% of Galp Eni gearing in Q3 falls to 31% (from 42% at H1) Strong performance in E&P Good production growth driven by ramp up of Libyan volumes Continuing exploration success, >3bn boe resources discov
Slide 3: Market environment
market environment Average European Brent €/$ exchange rate refining margin* $/bl €/bl $/bl €/bl 135 135 8 8 1,5 7 7 120 120 1 45 1,45 6 6 105 105 1,4 5 5 90 90 4 4 1,35 3 3 75 75 1,3 2 2 60 60 1,25 1 1 45 45 0 0 1,2 Q311 Q411 Q112 Q212 Q312 Q311 Q411 Q112 Q212 Q312 Q311 Q411 Q112 Q212 Q312 USD Euro
Slide 4: Q3 consolidated results
Q3 consolidated results Adj. operating profit Adj. net profit* Million € Million € 4,267 4,361 1,723 1,777 Q3 11 E&P G&P R&M Other Q3 12 Q3 11 Op. Prof it Inv/Fin Taxes Minor Q3 12 adj Charges * From continuing operations. Adj. net profit from discontinued operations: € 45m 4
Slide 5: E&P performance
E&P performance Oil & gas production Adj. operating profit kboe/d Million € 5,091 1,678 1,683 1,656 1,718 1,473 4,214 4,234 4,331 3,909 Q3 11 Q4 11 Q1 12 Q2 12 Q3 12 Q3 11 Q4 11 Q1 12 Q2 12 Q3 12 Gas Oil 2012 production restated for the new conversion rate of gas. Impact on Q312: 9 kboed. 5
Slide 6: G&P performance
G&P performance Gas sales Adj. operating profit Bcm Million € 1019 29.9 24.7 19.6 18 8 18.8 17.3 -196 -69 -304 -402 Q3 11 Q4 11 Q1 12 Q2 12 Q3 12 Q3 11 Q4 11 Q1 12 Q2 12 Q3 12 International* Italy * Including associates and excluding e&p sales in Europe and in the Gulf of Mexico 6
Slide 7: G&P: ebitda proforma adjusted
G&P: ebitda proforma adjusted* Million € 1,318 592 532 307 -88 236 162 -133 -108 Q3 10 Q4 10 Q1 11 Q2 11 Q3 11 Q4 11 Q1 12 Q2 12 Q3 12 International Marketing Transport * Ebitda pro forma includes pro-quota ebitda contribution from associates 7
Slide 8: R&M performance
R&M performance Process utilization index Adj. operating profit % Million € 51 2 83 75 69 70 64 -144 -226 -268 268 Q3 11 Q4 11 Q1 12 Q2 12 Q3 12 Q3 11 Q4 11 Q1 12 Q2 12 Q3 12 8
Slide 9: Other businesses: adjusted operating profit
other businesses: adjusted operating profit Million € Q3 Q3 Δ 2011 2012 Chemicals (77) (173) … Engineering & Construction 333 386 +16% Other activities (52) (41) +21% Corporate (94) (65) +31% 9
Slide 10: Net debt evolution
net debt evolution Billion € 3.2 1.6 9.9 26.9 1.9 2.0 0.9 19.6 Jun-12 Operating Dividends Capex Disposals Snam Debt Others Sept-12 cashf low 10
Slide 11: Appendix
Appendix 30 October 2012 eni.com
Slide 12: Results of operations
results of operations million € Q3 11 Q3 12 9M 11 9M 12 Δ% 25.516 31.494 Net sales from operations 78.042 94.697 4.241 4.072 Operating Profit 13.428 13.389 (0.3) (68) (491) Inventory holding (gains) losses (977) (577) 4.173 3.581 Replacement Cost Operating Profit 12.451 12.812 2.9 94 780 Special ite
Slide 13: G&P: adjusted operating profit by activities
G&P: adjusted operating profit by activities million € -55.1% (196) (304) 105 International Transport 50 -301 301 -354 354 Marketing Q3 11 Q3 12 3
Slide 14: Unrealized profit in stocks (UPIS)
unrealized profit in stocks (UPIS) million € Q3 11 Q3 12 E&P vs R&M 219 (65) E&P vs G&P (17) (48) E&C vs Eni Group (5) (3) Total UPIS 197 (116) 4
Slide 15: Eni share of profit from associates
eni share of profit from associates Q3 2011 2012 Equity method accounted for 198 91 Gas transportation abroad 9 7 EnBw ((GVS)) 0 0 Union Fenosa 36 21 Blue Stream 6 18 Others 21 7 Dividends 4 273 Disposals 0 0 O h Others 0 0 Net income from associates 202 364 5
Slide 16: G&P share of profit from associates
G&P share of profit from associates million € -26% 72 9 53 7 63 46 Q3 11 Q3 12 Marketing International Transport 6
Slide 17: Main operating data
main operating data Q3 11 Q3 12 9M 11 9M 12 Δ% 1,473 1,718 Hydrocarbon prod. (kboe/d) 1,548 1,686 8.9 130.0 150.5 Production sold* (mmboe) 404.8 444.3 9.8 6.3 6.0 Natural gas sales in Italy**(bcm) 25.4 24.6 (3.0) 9.2 10.7 Natural gas sales in Europe*** (bcm) 39.0 38.2 (2.2) 9.6 10.5 Power
Slide 18: Production growth by geographical area
production growth by geographical area kboe/d 16.6% 1,718 8 1,473 326 332 135 90 121 96 387 364 593 367 193 187 Q3 11 Q3 12 Italy North Africa Sub-Saharan Africa Kazakhstan America RoW 8
Slide 19: Oil & gas production
oil & gas production kboe/d 16.6% 1 718 1,718 1 718 1,718 187 1,473 1,473 193 891 793 1,531 1,280 827 680 Q3 11 Q3 12 Q3 11 Q3 12 Abroad Italy Gas Liquids 9
Slide 20: Capex
capex million € 26% 3,224 50 229 2,568 192 43 47 254 50 191 2,710 2,026 Q3 11 Q3 12 E&P G&P R&M E&C Other 10
Slide 21: Eni consolidated results
eni consolidated results 39% 3% 0.68 0 48 0.48 0 49 0.49 EPS 0.49 Euro per share* Q3 11 Q3 12 Q3 11 Q3 12 Adjusted Adjusted 39% 23% 1.38 1.19 0.99 0.96 CFPS Euro per share* Q3 11 Q3 11 Q3 12 Q3 12 Adjusted Adjusted * Average shares: Q3 11 3,622.7 million; Q3 12 3,622.8 million Note: Cash Flow calcul