ROME (dpa-AFX) - Eni S.p.A. (E), an Italian energy company, on Friday reported a decline in earnings for the first-quarter, amidst lower oil and gas prices, and the UK energy profit levy.
For the three-month period, the Group posted a net profit of 2.388 billion euros, lesser than 3.583 billion euros, recorded for the same period of 2022. Excluding items, earnings were at 2.907 billion euros as against last year's 3.270 billion euros.
Adjusted profit before taxes was at 4.981 billion euros, versus 5.232 billion euros of previous year.
Excluding items, operating income stood at 4.641 billion euros, compared with 5.191 billion euros a year ago. Operating profit moved down to 2.513 billion euros from 5.352 billion euros of 2022.
Sales from operations stood at 27.185 billion euros, lower than 32.129 billion euros of last year period.
Claudio Descalzi, CEO of Eni said: '.In the context of this performance, we confirm our 2023 guidance, and with our resilient financial position and flexibility we can confirm the basis on which we will seek authorization at the AGM in May for the previously announced plan to raise the 2023 dividend to 0.94 euro per share and begin our 2.2 billion euros share buy-back.'
The company also confirmed its proposed 2.2 billion euros share repurchase program.
Looking ahead, for full year 2023, the company expects adjusted EBIT of 12 billion euros.
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