- ENI press release (NYSE:E): Q1 Non-GAAP EPS of €0.37.
- Revenue of €22.94B (-15.6% Y/Y).
- In Q1 ’24, Group adjusted operating cash flow before working capital at replacement cost was €3.9B, exceeding outflows related to organic capex of €2B, and resulting in an organic free cash flow of €1.9B.
- Outlook: The company is providing the following updated operational and financial guidance for 2024: E&P: full-year hydrocarbon production is confirmed in a range of 1.69-1.71 mln boe/d at the revised Brent price of $86/bbl; GGP: €0.8B of pro forma adjusted EBIT for the full year confirmed.
- Enilive and Plenitude: – pro forma adjusted EBITDA of €1B for each business for the full year is confirmed; – installed capacity from renewable sources is projected at 4 GW at 2024 year-end, with additional 2 GW of organic projects under construction.
- Group financials: at the revised scenario the Group expected pro forma adjusted EBIT and CFFO before working capital are both raised above €14B for the full year.
- Organic Capex: projected at about €9B for the full year as planned. Including the expected developments in the disposition plan, capex net of proceeds from disposal are confirmed in a range of €7B – 8B.
