Eni at a glance

Eni is an integrated company engaged in all the energy supply chain. Eni’s strong presence in the gas market, our operations in LNG, our skills in the power generation and refinery activities, strengthened by world class skills in engineering and project management, allow us to catch opportunities in the market and to realize integrated projects.

Enlarge image Upstream & Mid-Downstream (graph)

In 2013 Eni achieved solid results in a particularly difficult market. Despite problems in Libya, Nigeria and Algeria the E&P Division confirmed its capability to deliver high profits and cash flow thanks to its cost leadership and extraordinary exploration successes. The Mid and Downstream businesses, while at a disadvantage from the Italian and European crisis, strengthened their restructuring actions achieving a significant improvement in cash generation of approximately €2 billion. The portfolio rationalization permitted by the new discoveries has allowed an anticipated monetization of results and cash. The overall effect of what we did enabled us to deliver an increased net profit amounting to €5.16 billion, up by 23% compared to 2012, to pay a generous dividend and to launch a buyback program, while maintaining a constant debt of €15.43 billion.

Net cash generated by operating activities of €10.97 billion and proceeds from disposals of €6.36 billion, related in particular to the Mozambique project, allowed us to fund completely cash outflows relating to capital expenditure of €12.75 billion and Eni’s dividend payments of €3.95 billion.

At December 31, 2013, leverage was 0.25, unchanged from 2012.

The Company’s excellent results and robust fundamentals underpin a dividend distribution of €1.10 per share (€1.08 in 2012).

In 2013 Eni continued to implement the communication and training program “Eni in safety”, with 185 workshops dedicated to Eni’s employees. The benefit of this and other programmes in safety is confirmed by the positive trend of the injury frequency rate relating to employees and contractors which improved for the ninth consecutive year (down by 28.7% from 2012). Notwithstanding the 10.5% decrease in the fatality index, six fatal accidents occurred in 2013.