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Eni SpA
XMUN:ENI

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Eni SpA
XMUN:ENI
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Price: 22.835 EUR 1.31% Market Closed
Market Cap: €71.4B

Eni SpA
Investor Relations

Eni is an Italian energy company that explores for and produces oil and natural gas, moves those fuels through pipelines and shipping, refines crude oil into products like gasoline and diesel, and sells energy to businesses and households. It also has a growing role in electricity, gas supply, biofuels, and other lower-carbon energy businesses. In simple terms, Eni sits in the middle of the energy chain: it finds energy, processes it, and brings it to customers. The company makes money mainly by selling crude oil, natural gas, refined fuels, and power, plus charging for energy supply and related services. Its main customers include industrial users, utilities, fuel distributors, retailers, and consumers who buy gas or electricity through its retail and power businesses. Because energy is a global commodity market, Eni’s earnings are tied to production, refining, trading, and the spread between the cost of inputs and the prices it can charge. What makes Eni different is that it combines classic oil and gas production with downstream fuel sales and a larger push into gas, LNG, and cleaner energy through its own branded businesses. That gives it several ways to serve the energy market rather than relying on one product line. For investors, Eni is best understood as a large integrated energy supplier with a mix of traditional hydrocarbons and newer energy businesses under one roof.

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Last Earnings Call
Fiscal Period
Q1 2026
Call Date
Apr 24, 2026
AI Summary
Q1 2026

Strong quarter: Eni reported EUR 3.5 billion of pro forma EBIT and EUR 2.9 billion of cash flow from operations, with pro forma gearing at 15% and 12% assuming full Plenitude deconsolidation.

Guidance raised: Eni lifted its 2026 Brent assumption to $83 per barrel from $70, TTF to EUR 50 per megawatt hour from EUR 36, and EUR refining margin to $8 per barrel from $6.

Buyback increased: Full-year 2026 cash flow from operations, pre-working capital, was raised to EUR 13.8 billion from EUR 11.5 billion, driving a share buyback increase of around 90% to EUR 2.8 billion.

Exploration standout: Management called this the best start to a year for exploration, with about EUR 1 billion of new resources added and major discoveries in Angola, Cote d'Ivoire, Libya, Egypt and Indonesia.

Middle East impact limited: Management said the Middle East disruption has had only a marginal effect on production and cash flow, with 3% of total production coming from the region.

Transition businesses: Plenitude, Enilive and Versalis all showed progress, while Plenitude deconsolidation is expected to close in the third quarter and reduce reported debt by EUR 2.6 billion.

Key Financials
Pro forma EBIT
EUR 3.5 billion
Cash flow from operations
EUR 2.9 billion
Pro forma gearing
15%
Pro forma gearing excluding Plenitude deconsolidation
12%
E&P production growth
9%
GGP pro forma EBIT
EUR 0.3 billion
Transition businesses pro forma EBITDA
EUR 0.52 billion
Plenitude gross EBITDA
EUR 1.3 billion
Enilive EBITDA
EUR 1.1 billion
Enilive EBITDA Q1
EUR 220 million
Tax rate
42%
Cash tax rate
around 25%
Capital expenditure
EUR 1.9 billion
Share repurchases
EUR 280 million
Brent assumption
$83 per barrel
TTF assumption
EUR 50 per megawatt hour
Refining margin assumption
$8 per barrel
Plenitude debt to be deconsolidated
EUR 2.6 billion
Acea Energy acquisition
around EUR 500 million
New resources added
around EUR 1 billion
Earnings Call Recording
Other Earnings Calls

Management

Mr. Guido Brusco
COO of Global Natural Resources & GM

Guido Brusco is a prominent executive at Eni SpA, a major global energy company based in Italy. He serves as the Chief Operating Officer of Natural Resources at Eni, a role in which he oversees the company's activities related to the exploration, development, and production of oil and natural gas resources worldwide. His responsibilities are crucial in ensuring the efficiency and sustainability of Eni's upstream operations. Brusco has had a long-standing career with Eni, bringing extensive experience and expertise in the oil and gas sector. Over the years, he has progressed through various roles within the company, showcasing his leadership skills and deep understanding of the energy industry. His work involves strategic planning and execution to support Eni's goals of transitioning towards more sustainable energy solutions while maintaining robust production levels. Brusco's educational background complements his professional journey, providing him with the skills necessary to address the challenges of a rapidly evolving energy landscape. His contributions to Eni are pivotal in steering the company towards meeting global energy demands while also focusing on environmental responsibility and innovation.

Mr. Francesco Gattei
Chief Transition & Financial Officer, COO and GM

Francesco Gattei is an accomplished executive who serves as the Chief Financial Officer (CFO) of Eni SpA, a major Italian multinational oil and gas company. Gattei joined Eni in this capacity in August 2020, bringing with him a robust background in the energy sector and extensive experience in financial management and strategic planning. Prior to serving as CFO at Eni, Francesco Gattei built a significant career within the company, having held various senior roles. His work at Eni is characterized by his involvement in critical business decisions and strategic initiatives that align with the company's aims in sustainability and technological innovation. Gattei has been instrumental in guiding Eni’s financial strategy, capital allocation, and investment decisions, supporting the company’s transition towards cleaner energy sources and striving to meet environmental goals. In his professional trajectory, Gattei has gained a reputation for his analytical skills and ability to navigate complex fiscal landscapes. His leadership is pivotal as Eni continues to address the challenges of the global energy market, balancing financial performance with the pressing need for sustainable development. Francesco Gattei’s academic background includes a degree in Economics, which has provided a strong foundation for his career in finance and business strategy. His work at Eni highlights his commitment to integrating economic and environmental sustainability, making significant contributions to the company’s evolution and resilience in a dynamic industry.

Francesco Esposito
Head of Accounting & Financial Statements

Francesco Esposito is a prominent executive in the energy sector, known for his role at Eni SpA, an Italian multinational oil and gas company. With a strong background in engineering and business management, Esposito has contributed significantly to Eni's operations and strategic initiatives. He has held various leadership positions within the company, focusing on areas such as exploration and production, project management, and global operations. Esposito is recognized for his expertise in optimizing resource management and integrating sustainable practices into Eni's core business operations. His leadership has been instrumental in driving innovation and ensuring Eni's competitive standing in the global energy market.

Lorenzo Fiorillo
Director of Technology, R&D & Digital

Lorenzo Fiorillo has been a significant figure in the energy sector, particularly through his roles at Eni SpA, a major Italian multinational oil and gas company. With a strong background in engineering and business management, Fiorillo has played a crucial role in advancing the company's strategic projects and operations. Throughout his tenure, he has held various leadership positions, contributing to the exploration, production, and development segments of Eni. Fiorillo is known for his expertise in overseeing complex projects and aligning them with the company's sustainability and innovation goals. His leadership style emphasizes strategic planning, operational efficiency, and fostering a culture of safety and environmental stewardship. Fiorillo's work has not only impacted Eni's growth but has also influenced broader industry practices, as he actively engages in initiatives aimed at enhancing energy transition and reducing carbon footprints. His commitment to excellence and innovation continues to drive Eni towards achieving its long-term objectives in the global energy landscape.

Mr. Stefano Speroni
Director of Legal Affairs & Commercial Negotiations

Stefano Speroni is a recognized executive at Eni SpA, where he has made significant contributions to the company’s legal and corporate affairs. He holds the position of General Counsel, where he is responsible for overseeing Eni's legal matters, ensuring compliance with regulatory standards, and managing the company's legal risks. Speroni has a substantial background in international law and corporate governance, which he leverages to support Eni’s business objectives. His role involves not only legal oversight but also advising on strategic decisions and corporate policies. His leadership in legal affairs plays a critical role in navigating the complex regulatory environments in which Eni operates globally. Over the years, Speroni has been instrumental in managing high-profile legal cases and transactions that are pivotal to Eni's operations. Through his expertise, he has contributed to shaping Eni's legal strategies, which align with the company’s commitment to sustainable and ethical business practices.

Mr. Lapo Pistelli
Director of Public Affairs

Lapo Pistelli is a notable Italian politician and businessman, known for his work with Eni SpA, one of the world's leading multinational oil and gas companies. He graduated with a degree in political science from the University of Florence, Italy, and has had a versatile career balancing both public service and involvement in global energy sectors. Pistelli served as a member of the Italian Parliament and the European Parliament, participating in various committees and initiatives that dealt with foreign affairs, development, and international cooperation. His expertise in international relations further paved the way for his work in the energy sector. In 2015, he joined Eni as the Senior Vice President for International Affairs after leaving his role as Italy's Deputy Minister of Foreign Affairs. At Eni, Pistelli played a crucial role in strengthening the company's international ties and managing diplomatic relationships with countries where Eni operates. He was responsible for overseeing Eni's international strategies, focusing on sustainable energy development and enhancing the company's global footprint. Throughout his career, Pistelli has been an advocate for integrating sustainable practices within the energy sector, emphasizing the importance of transitioning to renewable energy sources and reducing environmental impacts. His work continues to influence the ways in which multinational energy companies engage with global environmental and political challenges.

Ms. Claudia Carloni
Senior Vice President of International Negotiations - R&M business

Claudia Carloni is a notable executive at Eni SpA, one of the world's prominent energy companies headquartered in Italy. She is recognized for her extensive experience and leadership in the energy sector. At Eni, she has been instrumental in steering strategic initiatives and managing key aspects related to the company’s business operations globally. Her role involves overseeing projects that align with Eni's commitment to sustainability, innovation, and transitioning towards greener energy solutions. Carloni's leadership is marked by a focus on enhancing operational efficiency and promoting environmental stewardship within the company. Her contributions have been pivotal in positioning Eni as a leader in the evolving energy landscape.

Vanessa Siscaro
Head of Corporate Secretary's Staff Office
No Bio Available
Aldo Napolitano
Director of Exploration
No Bio Available
Mr. Daniele Ferrari
Chief Executive Officer of Versalis SpA

Daniele Ferrari is an accomplished business executive who has been notably associated with the chemical and energy industries. He was born in 1962 in Italy and pursued education in chemical engineering, which laid the foundation for his impressive career. Ferrari is widely recognized for his leadership roles within several major chemical companies. He has held significant positions at Imperial Chemical Industries (ICI) and Agip Petroli. However, he is perhaps best known for his role at Versalis, the chemical branch of Eni SpA, where he served as CEO. Under his leadership at Versalis, Ferrari was instrumental in leading the company through a transformative period, focusing on innovation, sustainability, and strategic growth initiatives. His expertise in the chemical industry is further validated by his involvement with various associations and boards. He has served as President of PlasticsEurope, the leading pan-European association that represents plastic manufacturers. His tenure there was marked by a strong emphasis on sustainability and advocacy for the responsible use of plastics. Daniele Ferrari's contributions to the industry have made him a notable figure in discussions related to chemical manufacturing and sustainability. His strategic vision and leadership skills have been key to driving forward initiatives that align with contemporary environmental and industrial demands.

Contacts

Address
ROMA
Rome
Piazzale Mattei, 1
Contacts
+390659821.0
www.eni.com
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