Q2 adj net profit 1.519 bln eur, down 21% (Il Sole 24 Ore Radiocor) - Milan, 26 Jul - Italian energy group Eni upped its full-year proforma adjusted EBIT guidance to around 15 billion euros from around 14 billion despite a 3% drop in the second quarter to 4.107 billion euros and a 19% contraction in the first half to 8.223 billion.

In the quarter, proforma adjusted EBIT in Exploration & Production rose 26% to 3.532 billion euros, as hydrocarbon production rose 6% in the quarter to 1.712 million barrels of oil equivalent per day and increased 5% in the half year to 1.726 million boe/d. In the full year, it is now seen coming in at the top end of the 1.69-1.71 million boe/d guidance range.

Global Gas & LNG saw a normalization after the significant performance a year ago with proforma adjusted EBIT slumping 71% and at the Enlive and Plenitude divisions it fell 20%. In Refining, Chemicals and Power it dropped 9%.

Adjusted net profit in the quarter fell 21% to 1.519 billion euros and in the half year it contracted 36% to 3.101 billion Cash flow from operations in the quarter fell 8% to 3.907 billion euros and dropped 18% in the semester to 7.703 billion, but in the full year it is now seen coming in above 14 billion euros, compared with 14 billion previously.

Sales from operations in the quarter rose 11% to 21.715 billion euros while in the semester they fell 5% to 44.651 billion euros.

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(RADIOCOR) 26-07-24 08:59:41 (0191) 5 NNNN