Eni's Financial Triumph in Q4 2024

In a remarkable display of resilience and strategic prowess, Eni S.p.A. announced a significant 43% year-on-year increase in its fourth-quarter net profit for fiscal 2024, reaching an impressive €247 million. This achievement comes at a time when the global energy sector faces unprecedented challenges.

Operational Highlights and Challenges

Despite a 4.6% decline in sales from operations to €23.5 billion, compared to the same quarter in the previous year, Eni's total revenues saw a 4% increase to €24 billion. The company faced an operating loss of €363 million, a stark contrast to the operating profit of $856 million in the previous year. However, earnings per diluted share experienced a 40% boost, climbing to €0.07 per share.

Annual Financial Performance

For the entirety of 2024, Eni's net profit attributable to its shareholders stood at €2.6 billion, marking a 45% decrease from 2023. Similarly, earnings per diluted share fell by 43.6% to €0.79 per share, reflecting the volatile nature of the global energy market and the challenges faced by the industry.