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November 2017 Investor Presentation – Eni S.P.A

Eni S.P.A · Nov 27, 2017 · 22 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. November 2017 Investor Presentation – Eni S.P.A – slide 1
    Fixed Income Investor Update 27-28 November, 2017
  2. November 2017 Investor Presentation – Eni S.P.A – slide 2
    Eni at a glance Business overview Financial profile 3
  3. November 2017 Investor Presentation – Eni S.P.A – slide 3
    Eni company overview: 64 years of history Integrated energy company present in 73 countries (2) with more than 33k employees 3.4bln boe of discovered resources 2014-2016 Listed on the Milan & New York stock exchanges with a…
  4. November 2017 Investor Presentation – Eni S.P.A – slide 4
    Eni at a glance Exploration & Production Main financial figures 2016 highlights Bln 3Q 17 2016 3Q2017 9M 17 8.2 bln Net Sales 55.8 49.4 Upstream capex Adj Operating Profit 2.3 3.8 Focused on finding and 1.76 Mboe/d of which…
  5. November 2017 Investor Presentation – Eni S.P.A – slide 5
    Eni at a glance Business overview Financial profile 6
  6. November 2017 Investor Presentation – Eni S.P.A – slide 6
    Health Safety Environment performance People Safety TRIR Upstream Methane EmissionsMtCO2 eq. Flaring down MSmc Eni top performer since 2013 -9% TCO2eq/Tep: on track to reach 2025 target (-43% since 2014) 3 5 10.000 2016 vs. 2007…
  7. November 2017 Investor Presentation – Eni S.P.A – slide 7
    Upstream business overview EBIT adj bln Oil & Gas Production 5000 4.2 2.5 3.3 75 Production Kboed Production by Region (2016) 4750 4500 65 countries: 24 4250 4000 52.5 51.9 3750 55 1,760 1,759 1,790 Australia and Italy 3500 43.7…
  8. November 2017 Investor Presentation – Eni S.P.A – slide 8
    Exploration and long-term organic growth are the engine of our strategy Resources Operations Value High impact and conventional High level of operatorship Upstream and G&P integration exploration Design to cost Enhancement in the…
  9. November 2017 Investor Presentation – Eni S.P.A – slide 9
    Exploration successes fueling future production Cumulative discovered resources 2014-2016 bln boe 2016 RRR % 4 200 193* 3.4 180 3 2016 160 30% Short cycles P2/P3 + assets 140 50% contingent 120 2 2015 100 70% 80 Disposed/…
  10. November 2017 Investor Presentation – Eni S.P.A – slide 10
    2017 start ups ahead of schedule EAST HUB JANGKRIK OCTP ZOHR Angola Indonesia Ghana Egypt (WI: 37%) (WI: 55%) (WI: 44%) (WI: 60%) Execution Time 22 months IN PRODUCTION IN PRODUCTION IN PRODUCTION 8 February 2017 15 May 2017…
  11. November 2017 Investor Presentation – Eni S.P.A – slide 11
    Net result: operational efficiency Opex /boe 3-yr F&D /boe 16 160 Peers Peers 140 14 120 12 100 10 80 60 8 40 6 20 4 0 2012 2013 2014 2015 2016 2012-14 2013-15 2014-16 Peers: BP, Chevron, Conoco Phillips, Exxon,…
  12. November 2017 Investor Presentation – Eni S.P.A – slide 12
    Increased upstream capital efficiency E&P Capex* vs production bln kboed 1900 10 1800 8 1700 6 1600 4 1500 2013 2016 9M 2017 Capex Production 13 * Before disposal
  13. November 2017 Investor Presentation – Eni S.P.A – slide 13
    Mid-downstream business overview EBIT adj mln 569 193 877 Mid-downstream R&M 9M 2017 CFFO Chemicals 1.2 billion G&P 2015 2016 9M 2017 14
  14. November 2017 Investor Presentation – Eni S.P.A – slide 14
    Integrated strategy across businesses E&P - An ongoing success Profitable organic growth - New projects breakeven around 30/bbl Dual exploration model generates additional organic CF through early monetization of our discoveries…
  15. November 2017 Investor Presentation – Eni S.P.A – slide 15
    Eni at a glance Business overview Financial profile 16
  16. November 2017 Investor Presentation – Eni S.P.A – slide 16
    Financial objectives Keeping a solid financial structure through: Solid level of liquidity and unused long-term committed facilities Well-balanced debt maturity profile Lengthening medium/long term debt average maturity Limited…
  17. November 2017 Investor Presentation – Eni S.P.A – slide 17
    Robust financial position Mln 3Q 17 Leverage Total debt 27,508 0,40 0.40 ST Debt 7,108 LT Debt 20,400 0,30 0.30 Liquidity 12,543 Net debt to equity Cash and cash equivalents 5,863 Securities held for trading and other…
  18. November 2017 Investor Presentation – Eni S.P.A – slide 18
    Eni credit ratings vs comparables A+ S&P Moodys A A- Long Term BBB+ Baa1 S&P BBB+ Short Term A-2 P-2 BBB Outlook Stable Stable BBB- Baa3 Baa2 Baa1 A3 A2 A1 Aa3 Moodys 19
  19. November 2017 Investor Presentation – Eni S.P.A – slide 19
    Debt strategy Key elements: mln Historic bond issues activity - as of today Bond issues at corporate level 5,000 5.000 Strong credit rating: Baa1 (Stable) / BBB+ (Stable) 4,000 4.000 6 bln committed credit facilities* 3,000…
  20. November 2017 Investor Presentation – Eni S.P.A – slide 20
    Maturity profile limited financial risk mln Bonds maturity profile 4,000 4.000 2.7 bln 3.500 3,500 26% 4.4 bln 3.000 3,000 2.500 2,500 20.4 bln 75% of the total debt is 2,000 2.000 74% made up of 1.500 1,500 bonds…
  21. November 2017 Investor Presentation – Eni S.P.A – slide 21
    Strong liquidity position Key elements: mln Short term debt vs liquidity sources 21,000 21 000 Sound level of liquidity and unused committed facilities 18,000 18 000 Liquidity sources provide a 15 000 15,000 coverage of 2-3…
  22. November 2017 Investor Presentation – Eni S.P.A – slide 22
    Cash balance 9M cash balance bln One off Val dAgri -0.2 Despite an all cash dividend 6.8 5.7 60/bbl 9M cash neutrality CFFO = capex + prorated cash dividend CFFO CAPEX Brent 52/bbl CFFO pre working capital at…

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