Reconciliation of reported operating profit and reported net profit to results on an adjusted basis

 

 

 

 

 

 

 

OTHER ACTIVITIES (a)

 

 

DISCONTINUED OPERATIONS

 

(€ million)

Explo-
ration & Pro-
duction

Gas & Power (a)

Refi-
ning & Mar-
keting

Versalis

Engi-
neering
& Con-
struction

Corpo-
rate and
financial
com-
panies

Snam

Other
acti-
vities

Impact of unrealized intragroup profit eli-
mination

GROUP

Snam

Conso-
lidation
adjust-
ments

Total

CONTI-
NUING
OPERA-
TIONS

(a)

Following the divestment plan, Snam results are reclassified from “Gas & Power” sector to “Other activities” and accounted as discontinued operations.

(b)

Excluding special items.

Operating profit

15,887

(326)

(273)

(424)

1,422

(319)

2,084

(427)

(189)

17,435

(2,084)

1,452

(632)

16,803

Exclusion of inventory holding
(gains) losses

 

(166)

(907)

(40)

 

 

 

 

 

(1,113)

 

 

 

(1,113)

Exclusion of special items

 

 

 

 

 

 

 

 

 

 

 

 

 

 

of which:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Non-recurring (income) charges

 

 

 

10

 

 

 

59

 

69

 

 

 

69

Other special (income) charges:

188

245

641

181

21

53

27

142

 

1,498

(27)

 

(27)

1,471

- environmental charges

 

 

34

1

 

 

10

141

 

186

(10)

 

(10)

176

- asset impairments

190

154

488

160

35

 

(9)

4

 

1,022

9

 

9

1,031

- net gains on disposal of assets

(63)

 

10

 

4

(1)

(4)

(7)

 

(61)

4

 

4

(57)

- risk provisions

 

77

8

 

 

(6)

 

9

 

88

 

 

 

88

- provision for redundancy incentives

44

34

81

17

10

9

6

8

 

209

(6)

 

(6)

203

- commodity derivatives

1

45

(3)

 

(28)

 

 

 

 

15

 

 

 

15

- exchange rate differences
and derivatives

(2)

(82)

(4)

3

 

 

 

 

 

(85)

 

 

 

(85)

- other

18

17

27

 

 

51

24

(13)

 

124

(24)

 

(24)

100

Special items of operating profit

188

245

641

191

21

53

27

201

 

1,567

(27)

 

(27)

1,540

Adjusted operating profit

16,075

(247)

(539)

(273)

1,443

(266)

2,111

(226)

(189)

17,889

(2,111)

1,452

(659)

17,230

Net finance (expense) income (b)

(231)

43

 

 

 

(876)

19

5

 

(1,040)

(19)

 

(19)

(1,059)

Net income (expense) from investments (b)

624

363

99

 

95

1

44

(3)

 

1,223

(44)

 

(44)

1,179

Income taxes (b)

(9,603)

93

176

67

(440)

388

(918)

(1)

78

(10,160)

918

(195)

723

(9,437)

Tax rate (%)

58.3

..

..

 

28.6

 

42.2

 

 

56.2

 

 

 

54.4

Adjusted net profit

6,865

252

(264)

(206)

1,098

(753)

1,256

(225)

(111)

7,912

(1,256)

1,257

1

7,913

of which attributable to:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

- non-controlling interest

 

 

 

 

 

 

 

 

 

943

 

 

32

975

- Eni’s shareholders

 

 

 

 

 

 

 

 

 

6,969

 

 

(31)

6,938

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net profit attributable to Eni’s shareholders

 

 

 

 

 

 

 

 

 

6,860

 

 

42

6,902

Exclusion of inventory holding (gains) losses

 

 

 

 

 

 

 

 

 

(724)

 

 

 

(724)

Exclusion of special items:

 

 

 

 

 

 

 

 

 

833

 

 

(73)

760

- non-recurring charges

 

 

 

 

 

 

 

 

 

69

 

 

 

69

- other special (income) charges

 

 

 

 

 

 

 

 

 

764

 

 

(73)

691

Adjusted net profit attributable to Eni’s shareholders

 

 

 

 

 

 

 

 

 

6,969

 

 

(31)

6,938
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