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Eni: net profit of 1,58 billion euros in the first quarter, for Descalzi “excellent results”

Eni closed the first quarter of 2024 with a net profit of 1,58 billion euros, an operating result (Ebit) proforma adjusted of 4,12 billion and a cash flow at replacement costs adjusted (before changes in working capital) of 3,9 billion. These results – according to a company note – are indicative of robust industrial management that is based on executive capabilities, growth, the value of assets and financial discipline. The scenario of the first quarter of 2024 was characterized by the decline in natural gas prices (the drop in the spot price at the main European hubs was approximately -50 percent compared to the first quarter of 2023) which affected the results of our gas value chain, while the price of benchmark Brent crude recorded substantial stability at 83 dollars per barrel on average in the quarter. Refining margins showed a recovery compared to the fourth quarter of 2023, however they decreased compared to the first quarter of 2023.

Link: https://www.agenzianova.com/en/news/eni-utile-netto-a-158-miliardi-di-euro-nel-primo-trimestre-per-descalzi-risultati-eccellenti/

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