Slide 1: Q3 2013 results
Q3 2013 results October 30th, 2013 eni.com
Slide 2: Q3 results: highlights
Q3 results: highlights E&P €3 bn net cash in from Mozambique farm out 0.7 Bboe of new exploration resources; 1.6 Bboe in the 9M Production P d ti iimpacted t dbby geopolitical liti l ffactors t iin Ni Nigeria i and d Lib Libya G&P Ongoing supply negotiations Increased retail base Enhance
Slide 3: Market environment
market environment Average European Brent €/$ exchange rate refining margin* $/bbl €/bbl $/bbl €/bbl 120 120 8 8 1,35 7 7 110 110 6 6 1,3 100 100 5 5 4 4 90 90 1,25 3 3 80 80 2 2 70 70 1 1 1,2 Q312 Q412 Q113 Q213 Q313 Q312 Q412 Q113 Q213 Q313 Q312 Q412 Q113 Q213 Q313 Euro USD * Brent/Ural FOB Medite
Slide 4: Q3 consolidated results
Q3 consolidated results Adj. operating profit * Adj. net profit * Million € Million € 1,658 4,078 1,171 3 39 3,439 Q312 E&P G&P R&M E&C and Q3 13 Other Q312 Q313 *Figures exclude Snam contribution in Q3 2012 4
Slide 5: E&P performance
E&P performance Oil & gas production Adj. operating profit kboe/d Million € 1,747 4,867 1,718 1,648 1,653 1,600 4,336 3,999 3 917 3,917 3,409 Q3 12 Q4 12 Q1 13 Q2 13 Q3 13 Q3 12 Q4 12 Q1 13 Q2 13 Q3 13 Gas Oil 5
Slide 6: G&P performance
G&P performance Gas sales Adj. operating profit Bcm Million € 29.5 42 24.4 18.8 18.4 17.8 -227 -304 -356 -436 Q3 12 Q4 12 Q1 13 Q2 13 Q3 13 Q3 12 Q4 12 Q1 13 Q2 13 Q3 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 Sales Adj. operating profit mmtonnes Million € 52 6.4 6.0 5.8 5.8 5.2 -7 -61 -152 -174 Q3 12 Q4 12 Q1 13 Q2 13 Q3 13 Q3 12 Q4 12 Q1 13 Q2 13 Q3 13 Retail Wholesale 7
Slide 8: Other businesses: adjusted operating profit
other businesses: adjusted operating profit million € Q3 Q3 Δ% 2012 2013 Versalis (173) (111) 35.8 Engineering & Construction 387 238 -38.5 Other activities (40) (52) -30.0 Corporate (64) (92) -43.8 8
Slide 9: Net debt evolution
net debt evolution billion € 0.27 0.24 16.5 3.0 0.1 15.1 2.0 3.5 3.1 Jun 2013 Operating Divestments Capex Dividends Others Sept 2013 cashflow Leverage 9
Slide 10: Buy-back
Buy-back A flexible buyback programme on a through-cycle basis: Satisfactory level of Leverage €6 bln overall Growth opportunities funded authorisation Dividend payments are covered Board approved the start of the buy-back programme 10
Slide 11: Appendix
Appendix October 30th, 2013 eni.com
Slide 12: Results of operations
results of operations million € Q3 12 Q3 13 9M 12 9M 13 Δ% 31,494 29,423 Net sales from operations 94,697 88,699 4,081 3,303 Operating Profit 13,421 8,596 (36.0) (491) (5) Exclusion of inventory holding (gains) losses (577) 331 3,590 3,298 Replacement Cost Operating Profit 12,844 8,927 (30.5) 780 14
Slide 13: G&P: adjusted operating profit by activities
G&P: adjusted operating profit by activities million € -17.1% (304) (356) 50 23 International Transport -354 354 -379 379 Marketing Q3 12 Q3 13 3
Slide 14: Unrealized intragroup profit eliminations
unrealized intragroup profit eliminations million € Q3 12 Q3 13 E&P vs R&M (65) (34) E&P vs G&P (48) ( ) (28) E&C vs Eni Group (3) 8 Insurance vs Eni Group 0 10 Total (116) (44) 4
Slide 15: Eni share of profit from investments
eni share of profit from investments million € Q3 2012 2013 Equity method accounted for 91 36 Gas transportation abroad 7 1 EnBw ((GVS)) – 50% 0 2 Union Fenosa 21 1 Blue Stream Pipeline Co BV 18 11 Others 45 21 Dividends 273 50 Disposals 0 0 O h Others 0 131 Net income from investments 364
Slide 16: G&P share of profit from associates
G&P share of profit from associates million € -60.4% 53 7 21 46 1 20 Q3 12 Q3 13 Marketing International Transport 6
Slide 17: Main operating data
main operating data Q3 12 Q3 13 9M 12 9M 13 Δ% 1,718 1,653 Hydrocarbon prod. (kboe/d) 1,686 1,633 (3.1) 150.5 141.8 Production sold* (mmboe) 444.3 417.9 (5.9) Natural gas sales: 5.96 6.13 • in Italy**(bcm) 24.63 25.16 2.2 12.81 11.64 • international*** (bcm) 43.60 40.53 (7.0) 10.54 8.45 Elec
Slide 18: Production by geographical area
production by geographical area kboe/d -3.8% 1 718 1,718 1,653 326 311 135 117 90 90 387 377 593 569 187 189 Q2 13 Q3 13 Italy North Africa Sub-Saharan Africa Kazakhstan America RoW 8
Slide 19: Oil & gas production
oil & gas production kboe/d -3.8% 1 718 1,718 1,653 1,718 1,653 891 851 1,531 1,464 827 802 187 189 Q3 12 Q3 13 Q3 12 Q3 13 Italy Abroad Gas Liquids 9
Slide 20: Capex
capex million € -5.3% 50 3 224 3,224 3,053 229 102 192 190 43 160 64 2,710 2,537 Q3 12 Q3 13 E&P G&P R&M E&C Other 10
Slide 21: Eni consolidated results
eni consolidated results 62% -35% 0.68 1.10 0.49 EPS 0.32 Euro per share* Q3 12 Q3 13 Q3 12 Q3 13 Adjusted Adjusted 26% -19% 1.74 1.38 1.19 0.96 CFPS Euro per share* Q3 12 Q3 13 Q3 12 Q3 13 Adjusted Adjusted * Continuing operations. Average shares: Q3 12 3,622.8 million; Q3 13 3,622.8 million Note: