Rome, April 28, (dpa/GNA) – Italian energy firm Eni SpA saw both earnings and profit fall in the first quarter of 2023 compared to the same period a year ago, driven by lower oil and gas prices and Britain’s energy profit tax.
For the three-month period, the group posted a net profit of 2.388 billion euros, less than the €3.583 billion ($2.627 billion) recorded for the same period of 2022.
Excluding items, earnings were at €2.907 billion as against last year’s €3.27 billion.
Adjusted profit before taxes was at €4.981 billion, versus €5.232 billion of previous year.
Excluding items, operating income stood at €4.641 billion, compared with €5.191 billion a year ago.
Operating profit moved down to €2.513 billion from €5.352 billion of 2022.
Sales from operations stood at €27.185 billion, lower than the €32.129 billion of the same period last year.
Claudio Descalzi, chief executive of Eni said: “In the context of this performance, we confirm our 2023 guidance, and with our resilient financial position and flexibility we can confirm the basis on which we will seek authorization at the AGM [Annual General Meeting] in May for the previously announced plan to raise the 2023 dividend to €0.94 per share and begin our €2.2-billion share buy-back.”
Looking ahead, for full year 2023, the company expects adjusted earnings before interest and taxes (EBIT) of €12 billion.
GNA