ROME (dpa-AFX) - Italian energy company Eni S.P.A. (E) reported Friday lower profit in its second quarter as revenues were hit by weaker Hydrocarbon production and commodity prices.
In the quarter, net profit attributable to shareholders fell 18 percent to 543 million euros from 661 million euros last year. Earnings per share declined to 0.16 euro from 0.19 euro a year ago.
Adjusted net profit was 1.13 billion euros, compared to 1.52 billion euros a year ago. Proforma adjusted EBIT was 2.68 billion euros, down 35% from 4.11 billion euros a year ago.
Total revenues declined to 19.12 billion euros from prior year's 23.06 billion euros. Sales from operations dropped 14 percent to 18.77 billion euros from 21.72 billion euros a year ago.
Hydrocarbon production dropped 3 percent to 1,668 kboe/d from 1,712 kboe/d last year.
Further, the company confirmed the planned shareholders returns for 2025, featuring a 5% dividend increase to 1.05 euros per share and the execution of a buy-back program of at least 1.5 billion euros.
The first tranche of the 2025 dividend of 0.26 euro per share is set to be paid on September 24, with record date of September 23.
Looking ahead, the company continues to expect oil and gas production at 1.7 mln boe/d, in line with original assumptions. The third quarter production is seen at between 1.7 and 1.72 mln boe/d.
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