Full Year 2025 Eni SpA Earnings Call Transcript

Feb 26, 2026 / 01:00 PM GMT

Release Date Price: CHF16.62

Transcript

Key Points

Positve

Eni SpA (E) achieved a 4% increase in production, surpassing their original full-year guidance.
The company successfully started up six major projects, demonstrating strong project execution capabilities.
Eni SpA (E) discovered 900 million barrels of new resources in 2025, maintaining an industry-leading track record.
The company reduced net debt by almost €3 billion over the year, improving its financial position.
Eni SpA (E) raised its share buyback by 20%, enhancing shareholder distribution.

Negative

The company faces ongoing arbitration claims in Kazakhstan, which could impact future operations.
Eni SpA (E) reported a relatively high tax rate of 37% in Q4, with expectations of a 45-50% rate in 2026.
The chemical business continues to face challenges due to a weak market scenario in Europe.
The impact of the Italian energy reform is slightly negative, although marginal.
The company anticipates potential challenges in the biofuels market, with a need for regeneration improvement to meet new EPA targets.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

ENI.MI - Eni SpA
Full Year 2025 Eni SpA Earnings Call
Feb 26, 2026 / 01:00PM GMT

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Presentation
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Unidentified_1 [1]
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Good morning.

Everyone.

2025 was a year of exceptional progress at any.

We developed and executed our distinctive strategy, in many cases exceeding our regional target.

We will discuss in detail our update plan at the forthcoming capital markets update in March.

But I can say at this point that 2025 provides an excellent guide to what you should expect the future to hold for.

Last year's result proved the value of our consistent strategies strong operational and financial performance, timely project delivery to support growth, and diversified investment for the short and long-term to generate farther value for investors.

Specifically looking in detail at the three main business pillars,

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