Eni Reports Significant Profit Increase in Q4 2024

Eni S.p.A., the Italian energy giant, has announced a remarkable 43% year-on-year increase in its net profit for the fourth quarter of fiscal 2024, reaching €247 million. This surge comes despite a challenging market environment and a 4.6% drop in sales from operations to €23.5 billion.

Financial Performance Overview

The company's total revenues saw a 4% increase to €24 billion, compared to the same quarter in the previous year. However, Eni faced an operating loss of €363 million, a stark contrast to the operating profit of $856 million in the previous year. On a brighter note, earnings per diluted share rose by 40% to €0.07 per share.

Annual Financial Highlights

For the full year 2024, Eni's net profit attributable to its shareholders was reported at €2.6 billion, marking a 45% decrease from 2023. Earnings per diluted share also saw a significant drop of 43.6% to €0.79 per share, reflecting the volatile nature of the energy sector.