Presentation to the Financial Community 2002 First Quarter Results and Business Trends May May 8th, 8th, 2002 2002
2002 Business Trends Vittorio Mincato, CEO May May 8th, 8th, 2002 2002
Consolidated operating income Million I Q 02 / I Q 01 -26.3% Brent (/bbl) I Q 02 / IV Q 01 +5.5% Refining margin (/bbl) 3,714 2,596 25.8 2,738* 19.4 21.1 1.88 2.16 0.21 IV Q 2001 I Q 2001 I Q 2002 2002 First Quarter…
Production growth in 2002 Thousands boe/d Production growth IQ02/IQ01: +3.9% OPEC 1,462 reduction impact in first 1,441 quarter 2002 of 34 thousands 1,408 April 2002 boe/d average 1,387* production I Q 2001 IVQ 2001 I…
Natural gas sales Billion cubic meters n 87% Increase in Europe destined to Italy volumes transported Italy in Italy on behalf of third parties 20.79 21.02 19.42 0.47 2.00 1.62 20.32 17.80 19.02 2002 First Quarter…
Eni Strategy: focus on core business Eni Strategy n CAPITAL REDUCTION IN CHEMICAL confirmed: complete BUSINESS THROUGH A CONTINGENCY capital employed reduction in non core PLAN: business BREAK UP AND DISPOSAL OF ASSETS 2002…
Expansion in European Gas Market: GVS- German Regional gas company Supply Auction: n Joint-venture EnBW-Eni Regional transport (50/50) to acquire controlling & marketing interest in GVS to develop business Local…
Regulated activities: Storage New Regulatory Framework n Delibera 26/02: setting the criteria for storage tariff system (regulated period April 1st 2002- March 31st 2006) - published on March 4th n Delibera 49/02: setting unit…
Storage Delibera: Outcome Comment n Implied regulatory n It doesnt fully reflect Enis overall asset base of 2.2 bn assets value RAB euro n Independent appraisal: RAB equal to 3 bn euro n 8.33% real pre-tax n It doesnt fully…
2002 First Quarter Results Marco Mangiagalli, CFO May, May, 8th 8th 2002 2002
Results of operations Million IVQ 2001 I Q 2001 I Q 2002 % 12,557 Net sales from operations 13,783 12,705 (7.8) 328 Other income and revenues 240 185 (22.9) (8,914) Operating expenses (9,214) (9,004) (2.3) (1,375) Depreciation,…
Main operating data I Q 2001 I Q 2002 % H y d r o c a r b o n p r o d u c t i o n ( k b o e / d) 1,387(*) 1,441 3.9 Production sold (million b o e ) 134.4 132.8 (1.2) Natural gas sales in Italy ( b c m ) 20.32 19.02 (6.4) Natural…
E&P Operating income analysis Million I Q 02 / I Q 01 -32.9% I Q 02 / IV Q 01 -2.2% Lower prices realised on 1,975 equity oil and gas 1,355 Lower equity 1,325* gas sold in Italy Higher production sold abroad and oil sold…
Gas&Power Operating income analysis Million Powergen I Q 02 / I Q 01 -2.7% I Q 02 / IV Q 01 +12.2% Change in sales mix Lower margins 1,466 1,426 on gas sales 14 24 Increase in volumes 1,271 transported on 31 behalf of…
R&M Operating income analysis Million I Q 02 / I Q 01 -78.9% I Q 02 / IV Q 01 +17% Strong reduction in refining 294 margins Lower distribution margins Lower 53 62 volumes sold IV Q 2001 I Q 2001 I Q 2002 2002 First…
Other businesses: operating income analysis Million IVQ 2001 I Q 2001 I Q 2002 % (149) Petrochemicals (17) (116)* n.m. 113 Oilfield services & 42 86 104.8 engineering (47) Other activities (46) (45) 2.2 2002 First…
Investments and buy back Million INVESTMENTS NET FINANCIAL DEBT AND BUY-BACK 247 5,339 Financial invest. 9,888 Capex 4,160 Share Buy Back 79 6,713 1,737 7,070 7,742 196 1,179 1,541 6,267 2002 First Quarter Results…
Presentation to the Financial Community 2002 First Quarter Results and Business Trends May May 8th, 8th, 2002 2002
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