Italian energy major Eni S.P.A. (E) reported Thursday sharply lower profit in its fourth quarter as lower prices hit sales from operations, despite increased Hydrocarbon production.
The company's fourth-quarter net profit attributable to Eni's shareholders was 90 million euros, a decrease of 61 percent from 230 million euros in the previous year. Earnings per share fell to 0.01 euro from 0.06 euro last year.
Adjusted net profit attributable to Eni's shareholders was 1.20 billion euros, compared to 885 million euros a year ago.
Eni's adjusted profit before taxes increased 4 percent to 2.01 billion euros, while its proforma adjusted EBIT increased by 6 percent to 2.87 billion euros.
The company's sales from operations declined 12 percent to 20.62 billion euros from 23.49 billion euros a year ago, primarily due to a 15 percent decline in crude oil prices.
Hydrocarbon production increased 7 percent to 1,839 kboe/d in the fourth quarter from 1,716 kboe/d last year.
Eni has announced that it will issue its main financial and operating guidance for 2026 and its strategic plan at a Capital Markets Update scheduled for March 19.
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