Eni Q4 2024 Earnings Report
Key Takeaways
Eni's Q4 2024 results showed a decline in profitability, with proforma adjusted EBIT at €2.7 billion, down 28% YoY. The company reported net profit of €305 million, a significant drop from the prior year. Hydrocarbon production remained stable at 1.72 million boe/d, supported by organic project ramp-ups and acquisitions. Despite the challenging macroeconomic environment, the company continued its strategic investments, including expanding its LNG business and renewable energy capacity.
Proforma adjusted EBIT declined 28% YoY to €2.7 billion due to weaker crude prices and refining margins.
Net profit dropped to €305 million, impacted by lower upstream realizations and higher tax rates.
Hydrocarbon production remained steady at 1.72 million boe/d, driven by project ramp-ups.
Eni continued its transition strategy, increasing renewable energy capacity by 37% to 4.1 GW.
Eni Revenue
Eni EPS
Eni Revenue by Segment
Forward Guidance
Eni expects modest earnings growth in 2025, driven by increased upstream production and expansion in renewables, though macroeconomic uncertainties may pose risks.
Positive Outlook
- Increased oil and gas production from key projects in Africa and the Middle East.
- Further investments in LNG infrastructure to strengthen global gas portfolio.
- Continued growth in renewable energy capacity with a 2025 target of 5.5 GW.
- Strong order backlog supporting long-term revenue visibility.
- Ongoing cost optimization efforts to sustain profitability.
Challenges Ahead
- Weaker refining margins may continue to pressure earnings.
- Higher expected tax rates impacting net income growth.
- Potential volatility in crude oil prices due to geopolitical risks.
- Regulatory changes in Europe affecting biofuel market competitiveness.
- Supply chain constraints impacting capital projects and expansions.