2020 Consolidated Financial Statements and Draft Financial Statements of the Parent Company
Convening of the Annual Shareholders' Meeting
• Consolidated and separate financial statements
• Dividend proposal: €0.36 per share (of which €0.12 already paid in September 2020)
Rome, March 18, 2021 - Today, the Board of Directors, chaired by Lucia Calvosa, approved Eni's consolidated financial statements and the separate draft financial statements of the parent company for the year ending December 31, 2020. They confirm the 2020 preliminary adjusted results announced on February 19, 2021.
Consolidated net loss amounted to €8,635 million and net profit of the parent company amounted to €1,607 million. Reported net loss has been revised to €8,635 million (the preliminary net loss was €8,563 million) mainly to factor in the subsequent release of results of an equity accounted entity.
The Board of Directors intends to submit a proposal for the distribution of a cash dividend of €0.36 per share at the Annual Shareholders' Meeting. Included in this annual distribution is the €0.12 per share, which was paid as an interim dividend in September 2020. The balance of €0.241 per share will be payable on May 26, 2021 to shareholders of record at the close of business on May 25, 2021, with the ex-dividend date being May 24, 2021.
An Annual Report on Form 20-F will be filed with the U.S. SEC and Italian market authorities by the first ten days of April 2021. This report will be disseminated via the Company's headquarters, and on Eni's website (eni.com) and through other sources provided by the current regulation. Enclosed are the 2020 IFRS consolidated statements and those of the parent company Eni SpA.
The Board of Directors also approved the "Consolidated report on non-financial information" included in the management discussion of the 2020 Annual Report. This report, prepared in conformity with the Italian Legislative Decree N. 254/2016, discloses the group's activities, the performances achieved and the outcomes in environmental, reduction of carbon footprint, social, employees matters, respect for human rights, as well as anti-corruption and bribery matters.
The Board of Directors also convened the Annual Shareholders' Meeting on May 12, 2021. The meeting is set to approve the 2020 financial statements of the parent company and allocation of net profit, the payment of the 2021 interim dividend by the distribution of retained earnings, the integration of the Board of Statutory Auditors and the new buy-back programme.
1 Dividends, depending on the receiver, are subject to a withholding tax on distribution or are partially cumulated to the receiver's taxable income.
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Francesco Esposito, in his position as Eni's manager responsible for the preparation of the Company's financial reports, certifies pursuant to rule 154-bis paragraph 2 of Legislative Decree No. 58/1998, that data and information disclosed in this press release correspond to the Company's evidence and accounting books and records.
Company Contacts
Press Office: Tel. +39.0252031875 - +39.0659822030 Freephone for shareholders (from Italy): 800940924 Freephone for shareholders (from abroad): +80011223456 Switchboard: +39-0659821ufficio.stampa@eni.comsegreteriasocietaria.azionisti@eni.cominvestor.relations@eni.com
Web site:www.eni.com
Eni
Società per Azioni Roma, Piazzale Enrico Mattei, 1 Share capital: €4,005,358,876 fully paid
Tax identification number 00484960588 Tel.: +39 0659821 - Fax: +39 0659822141
This press release is also available on the Eni web site eni.com.
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Attachment
IFRS Consolidated Financial Statements
PROFIT AND LOSS ACCOUNT
Full Year
2020 | 2019 | |
Sales from operations | 43,987 | 69,881 |
Other income and revenues | 960 | 1,160 |
Total revenues | 44,947 | 71,041 |
Purchases, services and other | (33,551) | (50,874) |
Impairment reversals (impairment losses) of trade and other receivables, net | (226) | (432) |
Payroll and related costs | (2,863) | (2,996) |
Other operating (expense) income | (766) | 287 |
Depreciation, Depletion and Amortization | (7,304) | (8,106) |
Impairment reversals (impairment losses) of tangible, intangible and right of use assets, net | (3,183) | (2,188) |
Write-off of tangible and intangible assets | (329) | (300) |
OPERATING PROFIT (LOSS) | (3,275) | 6,432 |
Finance income | 3,531 | 3,087 |
Finance expense | (4,958) | (4,079) |
Net finance income (expense) from financial assets held for trading | 31 | 127 |
Derivative financial instruments | 351 | (14) |
FINANCE INCOME (EXPENSE) | (1,045) | (879) |
Share of profit (loss) of equity-accounted investments | (1,733) | (88) |
Other gain (loss) from investments | 75 | 281 |
INCOME (EXPENSE) FROM INVESTMENTS | (1,658) | 193 |
PROFIT (LOSS) BEFORE INCOME TAXES | (5,978) | 5,746 |
Income taxes | (2,650) | (5,591) |
Net profit (loss) | (8,628) | 155 |
attributable to: | ||
- Eni's shareholders | (8,635) | 148 |
- Non-controlling interest | 7 | 7 |
Earnings per share (€ per share) | ||
- basic | (2.42) | 0.04 |
- diluted | (2.41) | 0.04 |
Weighted average number of shares outstanding (million) | ||
- basic | 3,572.5 | 3,592.2 |
- diluted | 3,579.0 | 3,594.5 |
(€ million)
BALANCE SHEET
(€ million)
Dec. 31, 2020 | Dec. 31, 2019 | |
ASSETS | ||
Current assets | ||
Cash and cash equivalents | 9,413 | 5,994 |
Other financial activities held for trading | 5,502 | 6,760 |
Other financial assets | 254 | 384 |
Trade and other receivables | 10,926 | 12,873 |
Inventories | 3,893 | 4,734 |
Income tax assets | 184 | 192 |
Other assets | 2,686 | 3,972 |
32,858 | 34,909 | |
Non-current assets | ||
Property, plant and equipment | 53,943 | 62,192 |
Right of use assets | 4,643 | 5,349 |
Intangible assets | 2,936 | 3,059 |
Inventory - compulsory stock | 995 | 1,371 |
Equity-accounted investments | 6,749 | 9,035 |
Other investments | 957 | 929 |
Other financial assets | 1,008 | 1,174 |
Deferred tax assets | 4,109 | 4,360 |
Income tax assets | 153 | 173 |
Other assets | 1,253 | 871 |
76,746 | 88,513 | |
Assets held for sale | 44 | 18 |
TOTAL ASSETS | 109,648 | 123,440 |
LIABILITIES AND SHAREHOLDERS' EQUITY | ||
Current liabilities | ||
Short-term debt | 2,882 | 2,452 |
Current portion of long-term debt | 1,909 | 3,156 |
Current portion of long-term lease liabilities | 849 | 889 |
Trade and other payables | 12,936 | 15,545 |
Income taxes payable | 243 | 456 |
Other liabilities | 4,872 | 7,146 |
23,691 | 29,644 | |
Non-current liabilities | ||
Long-term debt | 21,895 | 18,910 |
Long-term lease liabilities | 4,169 | 4,759 |
Provisions for contingencies | 13,438 | 14,106 |
Provisions for employee benefits | 1,201 | 1,136 |
Deferred tax liabilities | 5,524 | 4,920 |
Income taxes payable | 360 | 454 |
Other liabilities | 1,877 | 1,611 |
48,464 | 45,896 | |
Liabilities directly associated with assets held for sale | ||
TOTAL LIABILITIES | 72,155 | 75,540 |
Share capital | 4,005 | 4,005 |
Retained earnings | 34,043 | 35,894 |
Cumulative currency translation differences | 3,895 | 7,209 |
Other reserves and equity instruments | 4,688 | 1,564 |
Treasury shares | (581) | (981) |
Net profit (loss) | (8,635) | 148 |
Total Eni shareholders' equity | 37,415 | 47,839 |
Non-controlling interest | 78 | 61 |
TOTAL SHAREHOLDERS' EQUITY | 37,493 | 47,900 |
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | 109,648 | 123,440 |
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Eni S.p.A. published this content on 18 March 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 18 March 2021 18:21:06 UTC.