Q1 2023 Eni SpA Earnings Call Transcript
Good afternoon, ladies and gentlemen, and welcome to the Eni's 2023 First Quarter Results Conference Call hosted by Mr. Francesco Gattei, Chief Executive Officer. (Operator Instructions)
I am now handing you over to your host to begin today's call. Thank you.
Thank you. Good afternoon and welcome to Eni 2023 First Quarter Conference Call. I am sure you have already had a chance to read our press release. It confirms another excellent set of results, recording a quarter where we have made strong operating, strategic, and financial progress.
Adjusted net profit was up 17% on the fourth quarter 2022 to EUR 2.9 billion despite an 8% fall in the oil price quarter-to-quarter and a much lower gas price. In fact we have also significantly offset the effect of a 20% fall in the crude oil price and near halving of the spot gas price in our year-over-year comparison, down just 11%. This is clear evidence of our resilient, our upstream, and the increasing balancing contribution from across the business segments.
Access to All Earning Calls and Stock Analysis | |
30-Year Financial on one screen | |
All-in-one Stock Screener with unlimited filters | |
Customizable Stock Dashboard | |
Real Time Insider Trading Transactions | |
8,000+ Institutional investors’ 13F holdings | |
Powerful Excel Add-in and Google sheets Add-on | |
All data downloadable | |
Quick customer support | |
And much more... |