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Q2 2023 Eni SpA Earnings Call Transcript
Good afternoon, ladies and gentlemen, and welcome to Eni's 2023 First Half Results Conference Call, hosted by Mr. Claudio Descalzi, Chief Executive Officer. (Operator Instructions) I now hand you over to your host to begin today's conference. Thank you.
Thank you. Welcome to the second quarter and first half 2023 results conference call. In the first half of 2023 in the quarter, Eni has delivered excellent operating and financial results, with significant steps forward in progressing the execution of strategy across all the businesses showing strong financial resilience.
In 2023, we outperformed in term of both underlying EBIT and CFFO versus expectation. And even as a scenario has weakened, we have been able to fund our CapEx, begin our shareholder buyback alongside paying our quarterly dividend and complete Algeria M&A and biorefinery purchase in the U.S.
In this quarter, we have agreed the purchase of the remaining 64% of Novamont, a leading player in circular and sustainable
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