logo
Plus   Neg
Share
Email

Eni SpA Q4 Profit Declines With Weak Revenue, Production; Lifts Dividend

Italian oil and gas company Eni SpA (E) reported Friday that its fourth-quarter net profit attributable to shareholders plunged 76 percent to 499 million euros from last year's 2.05 billion euros. Earnings per share were 0.14 euro, down from 0.57 euro a year ago.

Adjusted net profit was 1.46 billion euros or 0.41 euro per share, compared to 943 million euros or 0.26 euro per share last year.

Adjusted operating profit grew 49 percent to 2.99 billion euros from 2.00 billion euros in the prior year.

Total revenues dropped to 20.11 billion euros from 20.88 billion euros a year ago. Hydrocarbon production was 1.87 million boe/d in the fourth quarter, down by 1%.

Further, the company said it will propose payment of a dividend of 0.83 euro per share at the Board of Directors' meeting to be held on March 15. This is higher than last year's 0.80 euro.

Regarding outlook, the company said its business outlook and financial and operational targets for the 2019-2022 industrial plan will be unveiled at a Strategy Presentation on March 15, 2019 as well as disclosed in 2018 Annual Report.

For comments and feedback contact: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Swiss engineering major ABB Ltd. teamed with Italian utility Evolvere to launch a blockchain pilot project to explore transparent, secure peer-to-peer solar energy transactions, media outlet PV Tech reported. The companies will test the potential of blockchain technology in solar systems. The blockchain technology was developed in partnership with Prosume. Shares of Tesla Inc. are losing more than 5 percent in Monday's trading after Wedbush Securities analyst Daniel Ives slashed his price target on the luxury electric car maker's stock, citing "major concerns" around the trajectory of Tesla's growth prospects. In a note to investors, Ives also said he has concerns over underlying demand for Model 3 cars in the U.S. over the coming quarters. Amazon Inc. is leading a new $575 million investment in British food delivery company Deliveroo, intensifying the e-commerce giant's competition with rival Uber and its Uber Eats service. Deliveroo noted that Amazon is set to be the largest investor in the Series G preferred shared funding round. With the latest funding round, Deliveroo has raised $1.53 billion.
Follow RTT