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2001 Premliminary Results – Eni S.P.A

Eni S.P.A · Feb 1, 2002 · 28 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. 2001 Premliminary Results – Eni S.P.A – slide 1
    Vittorio Mincato, CEO February, February, 2002 2002 2001 1 Results
  2. 2001 Premliminary Results – Eni S.P.A – slide 2
    2001 Consolidated Results consistent with Strategy STRATEGY 2001 ACHIEVEMENTS Februay 2002 average production: 1,466 kboe/d n E&P: Profitable growth Production (thousands boe): 1,369 (+15.3%) Reserves (million boe): 6,929…
  3. 2001 Premliminary Results – Eni S.P.A – slide 3
    2001 Results consistent with Strategy STRATEGY ACHIEVEMENTS n REDUCE PRESENCE IN Focus on core REGULATED BUSINESS business Snam RG listing (capital gain) 2.5 bn n DISPOSALS OF NON-CORE BUSINESS Real estate (capital gain) 0.7 bn…
  4. 2001 Premliminary Results – Eni S.P.A – slide 4
    Net income Million Reported Adjusted* +3.1% +34.2% 7,745 Brent Bbl 5,982 5,804 5,771 232 28.4 Snam RG Third 3,047 Parties Net Profit 2,857 24.5 (40.24%) 17.9 1999 2000 2001 1999 2000 2001 2001 * net of non…
  5. 2001 Premliminary Results – Eni S.P.A – slide 5
    Growth Strategy in Core Business sustained by strong investment program Bn Investments Capital Employed Capital expenditure E&P, G&P and R&M core Equity investments business 39.1 4.1 Lasmo Acquisition 31.8 11.2 26 9.8 88%…
  6. 2001 Premliminary Results – Eni S.P.A – slide 6
    Solid results for Eni shareholders 24.0% +11,6% ROACE 21.5% 18.6% 12.5% 1999 2000 2001 2001 Adjusted EPS 1.98* +37.5% (Euro per share) 1.53* 1.44 0.72 * Average shares in 2001 3,910 million 2001 1999 2000 2001 2001…
  7. 2001 Premliminary Results – Eni S.P.A – slide 7
    Solid results for Eni shareholders 0.75 DIVIDEND 0.362 0.424 (Euro per share) 1999 2000 2001 PAY OUT 50.6% 28.8% 37% 50% 1999 2000 2001 2001 Adjusted 2001 7 Results
  8. 2001 Premliminary Results – Eni S.P.A – slide 8
    Marco Mangiagalli, CFO February, February, 2002 2002 2001 8 Results
  9. 2001 Premliminary Results – Eni S.P.A – slide 9
    Results of operations Million IVQ 00 IVQ 01 2000 2001 % 14,635 12,557 Net sales from operations 47,938 48,925 2.1 488 328 Other income and revenues 905 921 1.8 (10,544) (8,922) Operating expenses (34,228) (34,687) 1.3 (1,156)…
  10. 2001 Premliminary Results – Eni S.P.A – slide 10
    Less favourable 2001 market 2000 2001 % n Brent (/bbl) 28.4 24.5 --14% 14% n Refining margin (/bbl) 3.99 1.97 --51% 51% n Exchange rate (/) 0.92 0.90 --3% 3% 2001 10 Results
  11. 2001 Premliminary Results – Eni S.P.A – slide 11
    2000/2001 production growth by geographical area Thousands boe/d Growth January/Februay January/Februay 2002 average production: +15.3% 1,451 kboe/d 1,369* 156 1,187 201 Lasmo 156 135 Rest of World 168 188 North Sea West…
  12. 2001 Premliminary Results – Eni S.P.A – slide 12
    Hydrocarbon Proved Reserves Replacement 2001 99/01 ratio Growth All sources 282% 226% +15.3% Acquisitions excluding Lasmo 142% 175% 6,929 764 6,008 Million boe 2001 Results 2000 2001 12
  13. 2001 Premliminary Results – Eni S.P.A – slide 13
    Natural gas sales Billion cubic meters 61.96 61.25 Europe destined 1.33 3.07 to Italy 59.92 Italy 58.89 2000 2001 21% Increase in volumes transported on behalf of third parties in Italy 2001 13 Results
  14. 2001 Premliminary Results – Eni S.P.A – slide 14
    Other operating data 2000 2001 % Refined product sales (mil.ton.) 53.46 53.24 (0.4) Power production (gwb) 4,766 4,987 4.6 Petrochemicals sales (mil.ton.) 5.62 5.23 (6.8) 2001 14 Results
  15. 2001 Premliminary Results – Eni S.P.A – slide 15
    2001 Cost cutting results: better than expected Million 54 475 92 100 56 173 E&P Gas R&M Petro- Others Total 15 2001 Results chemicals
  16. 2001 Premliminary Results – Eni S.P.A – slide 16
    Operating income Variance analysis Million 10,772 -619 +456 +38 -1 -336 +78 10,388 2001 Results 2000 E&P Gas Powergen R&M Chem. Other 2001 16
  17. 2001 Premliminary Results – Eni S.P.A – slide 17
    Adjusted operating income Million 10,388 169 10,557 2001 REPORTED Non recurring items ADJUSTED 17 Results
  18. 2001 Premliminary Results – Eni S.P.A – slide 18
    Operating income Million Reported Adjusted +97% -3.6% +101% -1.8% 10,772 10,388 10,747 10,577 7% Other 8% Other 34% N. Gas 35% N. Gas 5,480 5,339 58% E&P 58% E&P 2001 1999 2000 2001 1999 2000 2001 18 Results
  19. 2001 Premliminary Results – Eni S.P.A – slide 19
    E&P Operating income analysis Million IV Quarter n Lower prices on equity oil 6,603 n Lower underlying oil production 5,984 sold (excluding Lasmo) 2,192 n Asset write downs 1,355 n Lasmo contribution n Higher gas production…
  20. 2001 Premliminary Results – Eni S.P.A – slide 20
    E&P: adjusted operating income (before amortisation of higher purchase cost on net equity and operating non recurring items) Million Lasmos economic results 2001 -3.8% 6,603 6,350 Revenues 1,586 88 Operating expenses (501)…
  21. 2001 Premliminary Results – Eni S.P.A – slide 21
    Natural Gas Operating income analysis Million IV Quarter n Higher primary distribution +14.5% margins 3,606 3,150 n Increased volumes sold in 1,240 secondary distribution 882 2001 21 Results 2000 2001
  22. 2001 Premliminary Results – Eni S.P.A – slide 22
    R&M Operating income analysis Million IV Quarter 986 985 53 n Sharp decline in refining margins 318 n Higher commercial margins 2001 22 Results 2000 2001
  23. 2001 Premliminary Results – Eni S.P.A – slide 23
    Other businesses: operating income analysis 2000 2001 % n Powergen 28 66 136 136 n Petrochemicals 4 (332) ---- ---- n Oilfield Services & Engineering 144 255 77 77 n Other activities (143) (176) --23 23 2001 23…
  24. 2001 Premliminary Results – Eni S.P.A – slide 24
    Net income Variance analysis Million +806 -226 7,745 +2,350 5,771 -384 -323 -249 +34.2% 2000 Operating Financial Associates Extraord. Taxes Minorities 2001 2001 24 Results income expense items
  25. 2001 Premliminary Results – Eni S.P.A – slide 25
    Adjusted net income Non recurring operating items -169 M Losses in affiliates -182 M Million Net extraordinary income 1.8 B Gains on disposals 3.4 B Restructuring costs 1.7 B Provisions 0.9 B Writedowns 0.6 B Redundancy…
  26. 2001 Premliminary Results – Eni S.P.A – slide 26
    Investments and buy-back Billion TOTAL INVESTMENTS AND BUY-BACK Capital expenditure 1.5 Equity investments 0.6 Share buy-back 11.2 9.8 4.6 4.4 5.6 0.1 6.6 5.5 5.4 2001 1999 2000 2001 26 Results
  27. 2001 Premliminary Results – Eni S.P.A – slide 27
    Capital expenditure by business Million +21% 5,152 5,483 6,577 Others 9% 8% 6% Petrochemicals 5% 5% 6% 8% R&M 11% 10% 17% 16% Natural Gas* 18% 65% 60% E&P 56% *Including capex in Powergen 2001 Results 1999 2000…
  28. 2001 Premliminary Results – Eni S.P.A – slide 28
    Net Debt & Leverage Net debt (Million ) Net debt/ equity 9,888 7,742 7,070 6,267 0.50 0.41 0.32 0.34 2001 31/12/1998 31/12/1999 31/12/2000 31/12/2001 28 Results

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