Eni has closed the first half of 2012 with an adjusted net profit of 3,94 billion euros, an increase of 8% compared to the first half of 2011. In the second quarter, on the other hand, Eni recorded an adjusted net profit of 1,46 billion, up by 2 percent. Net profit amounted to 3,84 billion in the semester and to 0,23 billion in the quarter. The adjusted operating profit of continuing operations therefore rose to 4,24 billion in the second quarter with an increase of 14,2% compared to the second quarter of 2011 due to the improved performance of the Exploration & Production division (+10,8%) driven by the recovery of production in Libya. Over the six months, adjusted operating profit grew by 18,8% to €10,37 billion.
Such results have been dragged by hydrocarbon production which was 1,647 million boe/day (1,661 million boe/d in the first half of 2012) up 10,6% compared to the second quarter of 2011 (+4,7% compared to the first half of 2011). The result, explains a note from the group, was favored by the recovery of activities in Libya and by the start-up/commencing of fields in Australia, Russia and Egypt, positive factors partially absorbed by the production stoppage in the United Kingdom following the accident that occurred in the Elgin/Franklin field (Eni's interest 21,87%), by the rapid growth of theft and sabotage phenomena in Nigeria and by production declines.
In this scenario, the CEO of the company Paolo Scaroni then announced an interim dividend on the rise: from 0,52 euro per share in 2011 to 0,54 euro this year. “Eni achieved excellent results in the first half – comments Scaroni – thanks to the strong growth in production supported by the recovery of activities in Libya. I am particularly satisfied with our exploration successes and our entry into new areas with high potential. In Gas & Power and Refining & Marketing we limited the impact of the crisis in the reference markets. The disposals that have already begun of our shares in Snam and Galp will ensure that we have an adequate financial structure to support robust long-term growth in any market circumstance. In view of Eni's excellent prospects, I will propose to the board of directors on 20 September an interim dividend of €0,54 per share”. At Piazza Affari, Eni shares gain 10% at 0,65 am.
