2024-02-16 16:42:04
Milan (dpa)
Italian energy company Eni achieved net profits of 1.64 billion euros ($1.8 billion) in the fourth quarter of last year, as improved performance of the natural gas sector helped offset weakness in the refining and chemical industries sectors.
The performance of the giant Italian energy company was similar to that of Shell and Total Energies, as these companies were able to improve their performance in the field of global trade in liquefied natural gas in order to partially compensate for the decline in energy prices and weak demand for chemicals.
Eni’s net profit was in line with economists’ average estimates, which amounted to 1.63 billion euros.
Bloomberg News Agency quoted the company’s CEO, Claudio Descalzi, as saying in a statement on Friday, “Our financial results are excellent… Achieving cash flows of 16.5 billion euros before working capital movements gave the company tangible room to provide tangible cash returns to shareholders amounting to 4.8 billion euros.”
The company said that it intends to disclose the value of stock dividends and its expectations for the year 2024 during a meeting scheduled for next March 14.
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