MILAN – Eni reported a net profit of € 6,128 million in the year 2021 and an adjusted profit of € 4,740 million. As the company reports in a note, this is the highest result since 2012. “The financial discipline and cost reduction implemented in response to the COVID-19 crisis allowed Eni to grasp the upside of the strong economic recovery of 2021 with FY adjusted EBIT of € 9.7 billion (an increase of € 7.8 billion compared to 2020, + 400%) “, explains the note.
“In the 2021 financial year, a cash flow of 12.7 billion euros was achieved, which financed net capex of 5.8 billion euros”, we read again, while organic free cash flow is 7.6 billion euros. The organic cash generation is able to cover the payment of dividends and the buy-back (in total 2.8 billion euros), the portfolio maneuver in support of the transition businesses (2.1 billion euros) and allows to reduce the net debt to € 9 billion and the leverage ratio to 0.20 vs. 0.31 at the end of 2020, the company emphasizes. Eni also confirmed the 2021 dividend proposal, already announced to the market, of € 0.86 per share, of which € 0.43 paid on account in September 2021.
During 2021, we achieved excellent results and accelerated our transformation strategy which leverages the integration of technologies, new business models and close collaboration with our stakeholders. The rigorous financial discipline and cost reduction implemented following the pandemic crisis have allowed us to make the most of the strong economic recovery of 2021 “, said the CEO of Eni. Claudio Descalzi.