Financials Eni S.p.A

Equities

ENI

IT0003132476

Integrated Oil & Gas

Market Closed - Borsa Italiana Other stock markets 01:45:00 19/07/25 am AEST			5-day change	1st Jan Change
14.16 ^EUR	+0.11%		-0.87%	+8.20%

12/07	Trump Sinks Markets, Automotive Sector Hit on Mib	AN
11/07	Eni, Khazna Data Centers to Form JV to Develop 500 MW AI Data Center Campus in Italy	MT

Projected Income Statement: Eni S.p.A

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Net sales ¹	43,987	76,570	132,237	93,717	88,797	82,156	81,752	86,755
Change	-	74.07%	72.7%	-29.13%	-5.25%	-7.48%	-0.49%	6.12%
EBITDA ¹	9,202	16,729	24,740	21,284	18,091	15,950	16,232	17,646
Change	-	81.8%	47.89%	-13.97%	-15%	-11.83%	1.77%	8.71%
EBIT ¹	1,898	9,667	20,391	13,805	10,348	8,274	8,409	9,607
Change	-	409.33%	110.93%	-32.3%	-25.04%	-20.04%	1.64%	14.24%
Interest Paid ¹	-893	-903	-1,053	-443	-754	-559.2	-533.3	-516.8
Earnings before Tax (EBT) ¹	-5,946	11,103	22,066	10,206	6,506	8,075	9,355	10,641
Change	-	286.73%	98.74%	-53.75%	-36.25%	24.11%	15.86%	13.74%
Net income ¹	-8,563	6,128	13,810	4,747	2,641	4,093	4,470	4,931
Change	-	171.56%	125.36%	-65.63%	-44.36%	54.97%	9.22%	10.31%
Announcement Date	19/2/21	18/2/22	23/2/23	16/2/24	27/2/25	-	-	-

¹EUR in Million

Estimates

Fiscal Period: December	2020 Q2	2020 Q3	2020 Q4	2021 Q1	2021 Q2	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4	2026 Q1	2026 Q2	2026 Q3	2026 Q4	2027 Q1
Net sales ¹	8,157	10,326	11,631	14,494	16,294	19,021	26,761	32,129	31,556	37,302	31,250	27,185	19,591	22,319	24,622	22,936	21,715	20,658	23,488	22,565	19,674	22,486	19,946	22,462	20,870	21,191	21,512	21,843
Change	-	26.59%	12.64%	24.62%	12.42%	16.74%	40.69%	20.06%	-1.78%	18.21%	-16.22%	-13.01%	-27.93%	13.92%	10.32%	-6.85%	-5.32%	-4.87%	13.7%	-3.93%	-12.81%	14.29%	-11.3%	12.62%	-7.09%	1.54%	1.52%	1.54%
EBITDA ¹	1,553	2,314	2,158	3,021	4,855	4,320	5,770	-	7,386	-	6,167	6,493	5,254	-	4,754	6,074	5,113	4,284	3,709	5,554	3,760	3,958	3,697	3,886	3,642	3,800	3,971	4,360
Change	-	49%	-6.74%	39.99%	60.71%	-11.02%	33.56%	-	-	-	-	5.29%	-19.08%	-	-	27.77%	-15.82%	-16.21%	-13.42%	49.74%	-32.29%	5.25%	-6.6%	5.13%	-6.28%	4.33%	4.51%	9.79%
EBIT ¹	-434	537	488	1,321	2,045	2,492	3,809	5,191	5,841	5,772	3,587	4,641	3,381	3,014	2,769	4,116	3,185	2,442	1,694	3,681	1,967	1,946	1,844	1,921	1,579	1,713	1,842	2,152
Change	-	223.73%	-9.12%	170.7%	54.81%	21.86%	52.85%	36.28%	12.52%	-1.18%	-37.86%	29.38%	-27.15%	-10.85%	-8.13%	48.65%	-22.62%	-23.33%	-30.63%	117.3%	-46.56%	-1.08%	-5.23%	4.2%	-17.82%	8.5%	7.53%	16.83%
Charge d'intérêts	-68	-189	-176	-250	-221	-231	-201	-339	-280	-308	-126	-123	-144	-122	-54	-246	-189	-346	-215	-170	-	-	-	-	-	-	-	-
Earnings before Tax (EBT)	-	3	-269	-	-	-	5,390	-	-	-	460	-	2,057	3,438	1,130	2,725	2,072	-	61	2,430	-	-	-	-	-	-	-	-
Change	-	-	-9,066.67%	-	-	-	-	-	-	-	-	-	-	67.14%	-67.13%	141.15%	-23.96%	-	-	3,883.61%	-	-	-	-	-	-	-	-
Net income ¹	-4,406	-503	-725	856	247	1,203	3,822	3,583	3,815	5,862	550	2,388	294	1,916	-	1,211	661	522	247	1,172	960.1	1,031	832.3	932.5	862.3	962.8	1,055	1,211
Change	-	88.58%	-44.14%	218.07%	-71.14%	387.04%	217.71%	-6.25%	6.48%	53.66%	-90.62%	334.18%	-87.69%	551.7%	-	-	-45.42%	-21.03%	-52.68%	374.49%	-18.08%	7.43%	-19.31%	12.04%	-7.52%	11.66%	9.62%	14.69%
Announcement Date	30/7/20	28/10/20	19/2/21	30/4/21	30/7/21	29/10/21	18/2/22	29/4/22	29/7/22	28/10/22	23/2/23	28/4/23	28/7/23	27/10/23	16/2/24	24/4/24	26/7/24	25/10/24	27/2/25	24/4/25	-	-	-	-	-	-	-	-

¹EUR in Million

Estimates

Fiscal Period: December	2021 S1	2022 S1	2023 S1	2025 S1
Net sales	-	-	-	-
Change	-	-	-	-
EBITDA	-	-	-	-
Change	-	-	-	-
EBIT ¹	3,366	11,032	8,022	6,318
Change	-	227.75%	-27.28%	-21.24%
Charge d'intérêts	-471	-	-267	-
Earnings before Tax (EBT)	-	-	-	-
Change	-	-	-	-
Net income	1,103	7,398	-	-
Change	-	570.72%	-	-
Announcement Date	30/7/21	29/7/22	28/7/23	-

¹EUR in Million

Estimates

Forecast Balance Sheet: Eni S.p.A

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Net Debt ¹	16,586	18,576	11,972	16,235	18,628	15,528	16,070	16,417
Change	-	12%	-35.55%	35.61%	14.74%	-16.64%	3.49%	2.16%
Announcement Date	19/2/21	18/2/22	23/2/23	16/2/24	27/2/25	-	-	-

¹EUR in Million

Estimates

Cash Flow Forecast: Eni S.p.A

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
CAPEX ¹	4,644	5,234	8,056	9,215	8,485	8,355	8,394	8,424
Change	-	12.7%	53.92%	14.39%	-7.92%	-1.53%	0.46%	0.36%
Free Cash Flow (FCF) ¹	178	7,617	9,404	5,904	4,607	4,979	4,589	4,624
Change	-	4,179.21%	23.46%	-37.22%	-21.97%	8.06%	-7.82%	0.76%
Announcement Date	19/2/21	18/2/22	23/2/23	16/2/24	27/2/25	-	-	-

¹EUR in Million

Estimates

Forecast Financial Ratios: Eni S.p.A

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Profitability
EBITDA Margin (%)	20.92%	21.85%	18.71%	22.71%	20.37%	19.41%	19.86%	20.34%
EBIT Margin (%)	4.31%	12.63%	15.42%	14.73%	11.65%	10.07%	10.29%	11.07%
EBT Margin (%)	-13.52%	14.5%	16.69%	10.89%	7.33%	9.83%	11.44%	12.27%
Net margin (%)	-19.47%	8%	10.44%	5.07%	2.97%	4.98%	5.47%	5.68%
FCF margin (%)	0.4%	9.95%	7.11%	6.3%	5.19%	6.06%	5.61%	5.33%
FCF / Net Income (%)	-2.08%	124.3%	68.1%	124.37%	174.44%	121.64%	102.66%	93.77%
Profitability
ROA	-0.64%	3.83%	9.53%	5.63%	3.64%	3.12%	3.68%	4.32%
ROE	-1.74%	11.54%	26.84%	15.38%	9.93%	7.59%	8.28%	9.51%
Financial Health
Leverage (Debt/EBITDA)	1.8x	1.11x	0.48x	0.76x	1.03x	0.97x	0.99x	0.93x
Debt / Free cash flow	93.18x	2.44x	1.27x	2.75x	4.04x	3.12x	3.5x	3.55x
Capital Intensity
CAPEX / Current Assets (%)	10.56%	6.84%	6.09%	9.83%	9.56%	10.17%	10.27%	9.71%
CAPEX / EBITDA (%)	50.47%	31.29%	32.56%	43.3%	46.9%	52.38%	51.71%	47.74%
CAPEX / FCF (%)	2,608.99%	68.71%	85.67%	156.08%	184.18%	167.82%	182.91%	182.18%
Items per share
Cash flow per share ¹	1.347	3.596	5.003	4.544	4.053	4.035	4.148	4.641
Change	-	166.91%	39.12%	-9.17%	-10.81%	-0.43%	2.79%	11.89%
Dividend per Share ¹	0.36	0.86	0.88	0.94	1	1.049	1.086	1.123
Change	-	138.89%	2.33%	6.82%	6.38%	4.88%	3.54%	3.4%
Book Value Per Share ¹	10.49	12.5	15.72	16.09	16.68	16.8	17.11	17.63
Change	-	19.15%	25.75%	2.36%	3.67%	0.69%	1.87%	3.06%
EPS ¹	-2.4	1.69	3.93	1.4	0.79	1.318	1.486	1.697
Change	-	170.42%	132.54%	-64.38%	-43.57%	66.81%	12.75%	14.2%
Nbr of stocks (in thousands)	3,572,550	3,538,443	3,364,864	3,221,837	3,087,185	3,048,215	3,048,215	3,048,215
Announcement Date	19/2/21	18/2/22	23/2/23	16/2/24	27/2/25	-	-	-