Eni's Q2 sales up by 11% to €21.71 billion - Breaking The News

Eni's Q2 sales up by 11% to €21.71 billion

26 July

1 min read

EPA-EFE/MATTIA SEDDA

Eni S.p.A. announced on Friday its sales from operations in the second quarter of the fiscal year 2024 saw an annual rise of 11% to reach €21.71 billion.

The company's net profit more than doubled compared to the same period in 2023 to hit €695 million. On the other hand, its operating profit declined by 10% year-on-year to land at €1,58 billion. Adjusted profit before taxes decreased by 7% over the same period to stand at €3.42 billion. Meanwhile, its proforma adjusted earnings before interest and taxes (EBIT) dropped by 3% to €4.11 billion. However, Eni's cash flow jumped by about 86% to come in at €2.37 billion.

"[W]e expect leverage to be significantly below 0.2 by year end, better than our original expectation. This will enable us to speed up the execution of our €1.6 bln share buyback program and confirm our delivery of both business growth and shareholder returns," Chief Executive Officer (CEO) Claudio Descalzi commented.

earnings eni

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