dcsimg
2007 2008 2009 2010 2011
Employee injury frequency rate (No. of accidents per million hours worked) 7.37 5.3 3.85 3.74 2.33
Contractors injury frequency rate 16.34 12.24 9.48 8.24 8.38
Net sales from operations(a) (€ million) 27,793 37,062 30,447 29,576 34,731
Operating profit   4,465 4,030 3,687 2,896 1,758
Adjusted operating profit   4,414 3,564 3,901 3,119 1,946
Marketing   2,284 1,309 1,721 733 -550
Regulated businesses in Italy   1,685 1,732 1,796 2,043 2,112
International transport   445 523 384 343 384
Adjusted net profit   3,127 2,648 2,916 2,558 1,541
EBITDA pro-forma adjusted   5,029 4,310 4,403 3,853 2,565
Marketing   3,061 2,271 2,392 1,670 364
Regulated businesses in Italy   1,248 1,284 1,345 1,486 1,535
International transport   720 755 666 697 666
Capital expenditure   1,511 2,058 1,686 1,685 1,721
Adjusted capital employed, net at year end   21,364 22,273 25,024 27,270 27,660
Adjusted ROACE (%) 15.2 12.2 12.3 9.8 5.6
Worldwide gas sales(b) (bcm) 98.96 104.23 103.72 97.06 96.76
LNG sales(c) 11.7 12 12.9 15 15.7
Customers in Italy (million)  6.61 6.63 6.88 6.88 7.1
Gas volumes transported in Italy (bcm) 83.28 85.64 76.9 83.31 78.3
Electricity sold (TWh) 33.19 29.93 33.96 39.54 40.28
Employees at year end (units)  11,893 11,692 11,404 11,245 10,907
Direct GHG emissions (mmtonnes CO2eq) 15.58 14.6 14.6 15.79 14.75
Customer satisfaction index (PSC) (%) n.a.  75.3 83.7 87.4 91
Water consumption/withdrawals per kWheq produced (EniPower) (cm/KWeq) 0.015 0.015 0.015 0.013 0.014
  1. Before elimination of intragroup sales.
  2. Include volumes marketed by the Exploration & Production Division of 2.86 bcm (5.39, 6.00, 6.17 and 5.65 bcm in 2007, 2008, 2009 and 2010, respectively).
  3. Refer to LNG sales of the G&P Division (included in worldwide gas sales) and the E&P Division.

Agreement with Gazprom

  • In March 2012, within their strategic partnership Eni and Gazprom signed an agreement on the revision of long-term natural gas supply contracts from Russia to Italy with retroactive effect from January 2011. The parties also discussed the execution of a detailed plan for the commencement of construction of the South Stream gas pipeline with the Final Investment Decision (FID) to be taken by November 2012.

Divestment of international pipelines

  • In 2011, Eni finalized the divestment of its interests in importing pipelines of natural gas from Northern Europe (TENP and Transitgas) and Russia (TAG) as part of the agreements signed on September 29, 2010 with the European Commission. Total consideration amounted to approximately €1.5 billion. Eni’s ship-or-pay contracts will be unaffected.

Belgium

  • In January 2012, Eni finalized the acquisition of Nuon Belgium NV and Nuon Power Generation Wallon NV, companies marketing gas and electricity mainly to residential and professional customers in Belgium, for an outlay of €214 million.

Divestment of interest in Interconnector

  • On February 22, 2012, Snam and Fluxys G signed a preliminary agreement to purchase Eni’s 16.41% interest in Interconnector (UK) Limited, its 51% interest in Interconnector Zeebrugge Terminal SCRL and its 10% interest in Huberator SA for a total consideration of €150 million. These companies own and operate the subsea gas pipeline that provides a bi-directional link between the UK (Bacton) and Belgium (Zeebrugge) hubs. IZT and Huberator are Belgian companies: IZT owns the Belgian compressor terminal at the Interconnector in Zeebrugge, and Huberator offers trading-related services in the Zeebrugge Gas Hub. The completion of the transaction is subject to certain conditions precedent and is expected to occur by the second half of 2012.
  • The injury frequency rate continued to improve (down 38% from 2010) thanks to enhanced training, information and sensitization of workers. With regard to sales to residentials in Italy, Eni’s customers satisfaction score (checked twice a year by the Authority for electricity and gas) increased to 91.0 (basis 100) in the first half of 2011 from an average 89.8 registered by the reference utility panel.
  • In 2011, adjusted net profit was €1,541 million, down 39.8% from 2010 due to a sharply lower operating performance of the Marketing business negatively impacted by weak demand and mounting competitive pressures fuelled by oversupply which squeezed selling margins and reduced volumes opportunities. The performance was also impacted by the disruption in Libyan gas availability, as well as by the unfavorable trends in energy parameters and unusual winter weather. Furthermore, the results reflected only a part of the benefits associated with the renegotiations of the supply contracts, certain of which have been finalized after 2011 year-end. These lower results were partly offset by the positive operating performance delivered by the International transport and Regulated businesses in Italy.
  • Adjusted ROACE was 5.6% (9.8% in 2010).
  • Worldwide gas sales were basically stable at 96.76 bcm supported by commercial initiatives, despite lower consumption and competitive pressure. We grew in many European Countries and in international LNG sales, while offtakes from importers into Italy of Libyan gas fell sharply and sales fell in Belgium.
  • Electricity sales of 40.28 TWh increased by 0.74 TWh from 2010, up 1.9%.
  • Natural gas volumes transported in Italy were 78.30 bcm, a decline of 6% from 2010 due to a steep decline in gas demand in Italy.
  • Capital expenditure amounted to €1,721 million for the development and upkeep of transport and distribution networks in Italy, increasing storage capacity and upgrading and improvement of efficiency standards in power generation.
  • In 2011, total R&D expenditure amounted to €2 million, net of overhead costs.

EBITDA pro-forms adjustedEBITDA pro-forms adjusted

Worldwide gas salesWorldwide gas sales

www.eni.com

  • Eni S.p.a. – Registered head office
    Piazzale Enrico Mattei, 1 00144 Roma

  • Vat number
    n. 00905811006

  • Company share capital
    € 4.005.358.876,00 paid up

  • Rome Company Register
    n. 00484960588

  • Branches
    Via Emilia, 1, e Piazza Ezio Vanoni, 1
    20097 – San Donato
    Milanese (MI)