Eni SpA (MEX:E)

MXN 632.5 0 (0%) Market Cap: 976.32 Bil Enterprise Value: 1.42 Til PE Ratio: 16.82 PB Ratio: 0.80 GF Score: 77/100

Q2 2023 Eni SpA Earnings Call Transcript

Jul 28, 2023 / 12:00PM GMT

Release Date Price: MXN502.3

Transcript

Operator

Good afternoon, ladies and gentlemen, and welcome to Eni's 2023 First Half Results Conference Call, hosted by Mr. Claudio Descalzi, Chief Executive Officer. (Operator Instructions) I now hand you over to your host to begin today's conference. Thank you.

Claudio Descalzi

Eni S.p.A. - CEO, GM & Director

Thank you. Welcome to the second quarter and first half 2023 results conference call. In the first half of 2023 in the quarter, Eni has delivered excellent operating and financial results, with significant steps forward in progressing the execution of strategy across all the businesses showing strong financial resilience.

In 2023, we outperformed in term of both underlying EBIT and CFFO versus expectation. And even as a scenario has weakened, we have been able to fund our CapEx, begin our shareholder buyback alongside paying our quarterly dividend and complete Algeria M&A and biorefinery purchase in the U.S.

In this quarter, we have agreed the purchase of the remaining 64% of Novamont, a leading player in circular and sustainable

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