Outlook 2025
In response to macro headwinds and uncertainty around trade tariffs, the Company is optimizing its 2025 spending plan and will employ its portfolio optionality. Mitigating actions around capex, portfolio, costs and other cash initiatives are expected to offset over €2 bln of negative scenario effects.
- FY gross capex expected to be below €8.5 bln, down from an initial guidance of around €9 bln; net capex is seen below €6 bln from an initial guidance of 6.5-7 bln.
- At a revised scenario of 65 $/bbl for the Brent price, 40 €/MWh for the TTF gas spot price, 3.5 $/bbl for the Standard Eni Refining margin and a EUR vs USD exchange rate of 1.1, the FY Group's CFFO before working capital adjustments is expected to be at €11 bln. This reflects a better outcome than the changes to the reference scenario imply.
- Oil and gas production is still expected at 1.7 mln boe/d, assuming a FY Brent price of 65 $/bbl.
- FY GGP proforma adjusted EBIT is confirmed at €0.8 bln with an upside to over €1 bln in the event of positive negotiation outcomes and supportive market scenario.
- Enilive and Plenitude: o FY proforma adjusted EBITDA respectively of around €1 bln and above €1.1 bln; o End of year installed renewable capacity projected at more than 5.5 GW (Plenitude @100%); biorefinery capacity at 1.65 MTPA plus 1 MTPA under construction.
免责声明:投资有风险,本文并非投资建议,以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请,作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考,不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证,投资者应自行研究并在投资前寻求专业建议。