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Q2 2011 EARNINGS CALL – Eni S.P.A

Eni S.P.A · Jul 29, 2011 · 24 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. Q2 2011 EARNINGS CALL – Eni S.P.A – slide 1
    interim update and Q2 results July 29th, 2011 eni.com
  2. Q2 2011 EARNINGS CALL – Eni S.P.A – slide 2
    H1 results: impacted by two uncertainties Libya: suspended production and Greenstream closure E&P: full impact in Q2, reduced volumes by 230kboe/d G&P: impact on ebit from lower shipper volumes and supply source substitution Refining…
  3. Q2 2011 EARNINGS CALL – Eni S.P.A – slide 3
    but showing good progress on strategic drivers Excellent exploration performance Skrugard: new potential hub in Barents Sea Jangkrik: substantial upside in Indonesia Sankofa and Gye Nyame: significant gas discoveries in Ghana…
  4. Q2 2011 EARNINGS CALL – Eni S.P.A – slide 4
    market environment Average European Brent / exchange rate refining margin* /bl /bl /bl /bl USD Euro * Brent/Ural FOB Mediterranean market. Eni calculations on Platts Oilgram data 4
  5. Q2 2011 EARNINGS CALL – Eni S.P.A – slide 5
    Q2 consolidated results Adj. operating profit Adj. net profit Million Million 4,128 4,003 1,667 1,436 5
  6. Q2 2011 EARNINGS CALL – Eni S.P.A – slide 6
    E&P performance Oil & gas production Adj. operating profit kboe/d Million 4,120 1,954 4,028 3,826 1,758 1,705 1,684 3,442 3,296 1,489 Oil Gas 6
  7. Q2 2011 EARNINGS CALL – Eni S.P.A – slide 7
    G&P performance Gas sales Adj. operating profit Bcm Million 31.6 27.2 958 20.3 17.8 17.4 777 629 446 251 Italy International* * Including associates 7
  8. Q2 2011 EARNINGS CALL – Eni S.P.A – slide 8
    G&P: ebitda proforma adjusted* million 1,432 1,159 1,054 921 825 675 338 International Regulated Marketing Transport businesses in Italy * Ebitda pro forma includes: pro-quota ebitda contribution from SRG and…
  9. Q2 2011 EARNINGS CALL – Eni S.P.A – slide 9
    R&M performance Process utilization index Adj. operating profit % Million 86 14 84 82 77 73 -39 -52 -114 -176 Q2 10 Q3 10 Q410 Q1 11 Q2 11 9
  10. Q2 2011 EARNINGS CALL – Eni S.P.A – slide 10
    other businesses: adjusted operating profit million Q2 Q2 % 2010 2011 Petrochemicals (11) (30) -173 Engineering & Construction 343 378 10 Other activities (51) (60) -18 Corporate (75) (69) 8 10
  11. Q2 2011 EARNINGS CALL – Eni S.P.A – slide 11
    sources and uses of cash billion 6.9 0.4 Sources 6.0 Uses 0.1 2.2 5.0 Cash flow from 4.6 Capex 0.6 2.2 operations Dividends Divestments and others Exchange differences and others 4.6 4.3 4.4 3.7 Q2 2010 Q2…
  12. Q2 2011 EARNINGS CALL – Eni S.P.A – slide 12
    financial debt: high quality Debt by instrument Debt by maturity Commercial 5 yrs paper 10% 3-5 yrs Bonds 51% 2-3 yrs Banks 39% Extension of debt maturity: 80% long term Over 50% of long term debt at fixed interest…
  13. Q2 2011 EARNINGS CALL – Eni S.P.A – slide 13
    2011 Outlook E&P Production in line with 2010 at 100/bbl and net of Libya impact (ca 200kboe/d) G&P Ebit broadly in line with 2010 including renegotiation benefits and net of Libya impact (ca - 300m) R&M Ongoing focus on cost…
  14. Q2 2011 EARNINGS CALL – Eni S.P.A – slide 14
    Appendix 29 July 2011 eni.com
  15. Q2 2011 EARNINGS CALL – Eni S.P.A – slide 15
    results of operations million Q2 10 Q2 11 1H 10 1H 11 % 22.902 24.596 Net sales from operations 47.706 53.375 4.305 3.810 Operating Profit 9.152 9.448 3.2 (368) (240) Inventory holding gains (losses) (777) (909) 3.937 3.570…
  16. Q2 2011 EARNINGS CALL – Eni S.P.A – slide 16
    G&P: adjusted operating profit by activities million -60.1% 629 251 International Transport Regulated business in Italy Marketing 3
  17. Q2 2011 EARNINGS CALL – Eni S.P.A – slide 17
    unrealized profit in stocks (UPIS) million Q2 10 Q2 11 E&P vs R&M (78) (150) E&P vs G&P (14) (14) E&C vs Eni Group (6) (14) Total UPIS (98) (178) 4
  18. Q2 2011 EARNINGS CALL – Eni S.P.A – slide 18
    eni share of profit from associates Q2 2010 2011 Equity method accounted for 114 145 Gas transportation abroad 24 36 EnBw (GVS) 0 (2) Union Fenosa 25 36 Blue Stream 11 10 Others 54 65 Dividends 200 268 Disposals 1 -…
  19. Q2 2011 EARNINGS CALL – Eni S.P.A – slide 19
    G&P share of profit from associates million 8.8% 98 90 Marketing Regulated business in Italy International Transport 6
  20. Q2 2011 EARNINGS CALL – Eni S.P.A – slide 20
    main operating data Q2 10 Q2 11 H1 10 H1 11 % 1,758 1,489 Hydrocarbon prod. (kboe/d) 1,800 1,586 (11.9) 154.1 129.1 Production sold* (mmboe) 312.7 274.8 (12.1) 6.3 7.1 Natural gas sales in Italy**(bcm) 17.1 19.1 11.4 10.9…
  21. Q2 2011 EARNINGS CALL – Eni S.P.A – slide 21
    production growth by geographical area kboe/d -15.3% 1,758 1,489 8
  22. Q2 2011 EARNINGS CALL – Eni S.P.A – slide 22
    oil & gas production kboe/d -15.3% 1,758 1,758 1,489 1,489 793 1,638 1,498 9
  23. Q2 2011 EARNINGS CALL – Eni S.P.A – slide 23
    capex million -13.6% 4,328 246 3,740 137 3,186 2,767 10
  24. Q2 2011 EARNINGS CALL – Eni S.P.A – slide 24
    eni consolidated results -31% -14% EPS 0.50 0.46 0.40 Euro per share* 0.35 Q2 10 Q2 11 Q2 10 Q2 11 Adjusted Adjusted -17% -14% 1.13 1.07 0.94 0.92 CFPS Euro per share* Q2 10 Q2 11 Q2 10 Q2 11 Adjusted Adjusted…

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