Eni SpA (E), Italy's biggest oil and natural gas company by
market value, Thursday said it raised its interim dividend by 1.9%
despite second-quarter adjusted net profit plummeting 55% on weak
results from the gas and power business and oil services subsidiary
Saipem SpA (SPM.MI).
Eni Chief Executive Paolo Scaroni said he expects a
"significant" improvement in second-half results. The company also
forecasts 2013 hydrocarbon output in line with that of last year,
while gas sales are predicted to drop on the year, as are refining
throughputs.
MAIN FACTS:
-Interim dividend rises to 0.55 euro ($0.73) a share from
EUR0.54 a year earlier.
-Adjusted net profit, which is closely watched by analysts
because it excludes changes in the value of oil inventories,
slipped to EUR576 million from EUR1.29 billion a year earlier.
-Analysts had expected an adjusted net profit of EUR703
million.
-Adjusted operating profit declined by 51% to EUR1.95 billion
versus EUR4.0 billion in the April-June period of 2012.
-Net sales from operations were EUR28.1 billion compared with
EUR30.1 billion in the same period.
-Worldwide gas sales were down 5.5% at 19 billion cubic
meters.
-Net debt rose to EUR16.49 billion at the end of June from
EUR15.99 billion three months earlier.
-Production: 1.648 million barrels of oil equivalent a day
versus 1.656 million.
-Wednesday, Eni shares closed at EUR16.61, giving it a market
value of EUR60.4 billion.
Write to Liam Moloney at liam.moloney@wsj.com
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