Eni SpA (NYSE:E)
$ 32.51 -0.18 (-0.55%) Market Cap: 51.92 Bil Enterprise Value: 74.12 Bil PE Ratio: 14.12 PB Ratio: 0.89 GF Score: 83/100
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Q1 2023 Eni SpA Earnings Call Transcript

Apr 28, 2023 / 12:00PM GMT
Release Date Price: $30.28 (+1.27%)
Operator

Good afternoon, ladies and gentlemen, and welcome to the Eni's 2023 First Quarter Results Conference Call hosted by Mr. Francesco Gattei, Chief Executive Officer. (Operator Instructions)

I am now handing you over to your host to begin today's call. Thank you.

Francesco Gattei
Eni S.p.A. - CFO

Thank you. Good afternoon and welcome to Eni 2023 First Quarter Conference Call. I am sure you have already had a chance to read our press release. It confirms another excellent set of results, recording a quarter where we have made strong operating, strategic, and financial progress.

Adjusted net profit was up 17% on the fourth quarter 2022 to EUR 2.9 billion despite an 8% fall in the oil price quarter-to-quarter and a much lower gas price. In fact we have also significantly offset the effect of a 20% fall in the crude oil price and near halving of the spot gas price in our year-over-year comparison, down just 11%. This is clear evidence of our resilient, our upstream, and the increasing balancing contribution from across the business segments.

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