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 expects modest earnings growth in 2025, driven by increased upstream production and expansion in renewables, though macroeconomic uncertainties may pose risks.
Analyze how earnings announcements historically affect stock price performance