Eni Q1 Profit To Shareholders Down 15.6% - Quick Facts

(RTTNews) - Eni (E) reported first-quarter net profit to shareholders of 1.30 billion euros, down 15.6% from 1.54 billion euros the first quarter 2013. Earnings per shre was 0.36 euros, compared to 0.43 euros. Earnings per ADR was $0.99, compared to $1.14. Profit before income taxes decreased to 3.62 billion euros from 3.81 billion euros.

Adjusted net profit was down 14.3% to 1.19 billion euros. Adjusted earnings per share was 0.33 euros, compared to 0.38 euros. Adjusted earnings per ADR was $0.90, compared to $1.00.

Net sales from operations was down 6.3% to 29.20 billion euros, from 31.17 billion euros. Total revenues were 29.36 billion euros, compared to 31.40 billion euros.

Paolo Scaroni, Chief Executive Officer of Eni, said: "Eni delivered solid results in the first quarter 2014, despite a difficult market environment, thanks to a good performance in E&P and progress in the mid and downstream businesses, in particular with the renegotiation of the Statoil gas supply contract. The outlook for 2014 is in line with our expectations, benefiting from the ramp-up of new projects and restructuring activities in G&P, R&M and Chemicals, in the context of continued volatility in Libya and weakness in European demand."