ENI SPA

CIK:0001002242|SEC Filings

CONSOLIDATED PROFIT AND LOSS ACCOUNT - EUR (€) € in Millions	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Statement
Sales from operations	€ 82,151	€ 88,797	€ 93,717
Other income and revenues	1,478	2,417	1,099
REVENUES AND OTHER INCOME	83,629	91,214	94,816
Purchases, services and other	(67,056)	(71,114)	(73,836)
Net (impairments) reversals of trade and other receivables	(11)	(168)	(249)
Payroll and related costs	(3,229)	(3,262)	(3,136)
Other operating income (expense)	641	(352)	478
Depreciation and amortization	(7,349)	(7,600)	(7,479)
Net (impairments) reversals of tangible, intangible and right-of-use assets	(1,582)	(2,900)	(1,802)
Write-off of tangible and intangible assets	(33)	(580)	(535)
OPERATING PROFIT (LOSS)	5,010	5,238	8,257
Finance income	7,196	7,715	7,417
Finance expense	(8,170)	(8,980)	(8,113)
Net finance income (expense) from financial assets at fair value through profit or loss	235	388	284
Derivative financial instruments	(80)	278	(61)
FINANCE INCOME (EXPENSE)	(819)	(599)	(473)
Share of profit (loss) from equity-accounted investments	1,161	866	1,336
Other gain (loss) from investments	426	984	1,108
INCOME (EXPENSE) FROM INVESTMENTS	1,587	1,850	2,444
PROFIT BEFORE INCOME TAXES	5,778	6,489	10,228
Income taxes	(3,020)	(3,725)	(5,368)
PROFIT	2,758	2,764	4,860
Attributable to Eni	2,608	2,624	4,771
Attributable to non-controlling interest	€ 150	€ 140	€ 89
Earnings per share (€ per share)
Basic	€ 0.78	€ 0.79	€ 1.41
Diluted	€ 0.78	€ 0.78	€ 1.4
Related parties
Statement
Sales from operations	€ 2,973	€ 2,997	€ 4,322
Other income and revenues	285	279	156
Purchases, services and other	(17,769)	(17,404)	(15,885)
Net (impairments) reversals of trade and other receivables	(1)	(2)	5
Payroll and related costs	17	3	(8)
Other operating income (expense)	(264)	201	17
Finance income	215	198	155
Finance expense	(77)	(57)	(28)
Derivative financial instruments			1
Other gain (loss) from investments	€ (18)	€ (12)	€ 445

CONSOLIDATED STATEMENT OF CASH FLOWS - EUR (€) € in Millions	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Statement
Profit	€ 2,758	€ 2,764	€ 4,860
Adjustments to reconcile profit (loss) to net cash provided by operating activities
Depreciation and amortization	7,349	7,600	7,479
Net impairments (reversals) of tangible, intangible and right-of-use assets	1,582	2,900	1,802
Write-off of tangible and intangible assets	33	580	535
Share of (profit) loss of equity-accounted investments	(1,161)	(866)	(1,336)
Net gain on disposal of assets	(99)	(601)	(441)
Dividend income	(242)	(227)	(255)
Interest income	(444)	(497)	(517)
Interest expense	1,256	1,245	1,000
Income taxes	3,020	3,725	5,368
Other changes	(515)	(158)	(700)
Cash flow from changes in working capital	2,735	1,286	1,811
- inventories	916	68	1,792
- trade receivables	3,214	1,145	3,322
- trade payables	(835)	110	(4,823)
- provisions	(554)	(87)	97
- other assets and liabilities	(6)	50	1,423
Change in the provisions for employee benefits	(79)	(105)	1
Dividends received	1,785	1,946	2,255
Interest received	358	456	459
Interest paid	(1,269)	(1,130)	(919)
Income taxes paid, net of tax receivables received	(3,737)	(5,826)	(6,283)
Net cash provided by operating activities	13,330	13,092	15,119
Cash flow from investing activities	(9,999)	(11,782)	(12,404)
- tangible assets	(8,702)	(7,999)	(8,739)
- prepaid right-of-use assets		(5)
- intangible assets	(527)	(486)	(476)
- consolidated subsidiaries and businesses net of cash and cash equivalents acquired	(196)	(1,795)	(1,277)
- investments	(682)	(798)	(1,315)
- securities and financing receivables held for operating purposes	(89)	(185)	(388)
- change in payables in relation to investing activities	197	(514)	(209)
Cash flow from disposals	2,040	2,496	845
- tangible assets	1,414	1,354	122
- intangible assets	4	21	32
- consolidated subsidiaries and businesses net of cash and cash equivalents disposed of	118	887	395
- investments	135	526	47
- securities and financing receivables held for operating purposes	98	69	32
- change in receivables in relation to disposals	271	(361)	217
Net change in securities and financing receivables held for non-operating purposes	(1,339)	(531)	2,194
Net cash used in investing activities	(9,298)	(9,817)	(9,365)
Increase in long-term financial debt	1,884	3,516	4,971
Repayments of long-term financial debt	(4,163)	(4,748)	(3,161)
Payments of lease liabilities	(1,250)	(1,205)	(963)
Increase (decrease) in short-term financial debt	(276)	(61)	(1,495)
Dividends paid to Eni's shareholders	(3,080)	(3,068)	(3,046)
Dividends paid to non-controlling interest	(277)	(45)	(36)
Capital contribution (reimbursement) by non-controlling interests	709	589	(16)
Sale (purchase) of additional interests in consolidated subsidiaries	5,072		(60)
Other contributions	9	14
Purchase of treasury shares	(1,896)	(2,012)	(1,803)
Effect of issuance of convertible bonds			79
Net issuance (repayment) of perpetual subordinated bonds	(18)	1,778
Coupon payment on perpetual subordinated bonds	(310)	(138)	(138)
Net cash used in financing activities	(3,596)	(5,380)	(5,668)
Effect of exchange rate changes and other changes on cash and cash equivalents	(198)	83	(62)
Net increase (decrease) in cash and cash equivalents	238	(2,022)	24
Cash and cash equivalents - beginning of the year	8,183	10,205	10,181
Cash and cash equivalents - end of the year	8,421	8,183	10,205
Related parties
Adjustments to reconcile profit (loss) to net cash provided by operating activities
Net cash provided by operating activities	(11,375)	(11,508)	(7,011)
Net cash used in investing activities	(3,181)	(3,140)	(1,695)
Net cash used in financing activities	(407)	(20)	(162)
Effect of exchange rate changes and other changes on cash and cash equivalents		(3)	(7)
Net increase (decrease) in cash and cash equivalents	€ (14,963)	€ (14,671)	€ (8,875)

CONSOLIDATED BALANCE SHEET - EUR (€) € in Millions	Dec. 31, 2025	Dec. 31, 2024
Current assets
Cash and cash equivalents	€ 8,100	€ 8,183
Financial assets at fair value through profit or loss	6,991	6,797
Other current financial assets	3,710	1,085
Trade and other receivables	12,436	16,901
Inventories	5,143	6,259
Income tax receivables	539	695
Other current assets	3,943	3,662
Current assets	40,862	43,582
Non-current assets
Property, plant and equipment	50,536	59,864
Right-of-use assets	5,184	5,822
Intangible assets	6,022	6,434
Inventory - Compulsory stock	1,187	1,595
Equity-accounted investments	13,155	14,150
Other investments	1,329	1,395
Other non-current financial assets	1,109	3,215
Deferred tax assets	6,716	6,322
Income tax receivables	125	129
Other non-current assets	2,839	4,011
Non-current assets	88,202	102,937
Assets held for sale	8,005	420
TOTAL ASSETS	137,069	146,939
Current liabilities
Short-term debt	4,929	4,238
Current portion of long-term debt	3,434	4,582
Current portion of long-term lease liabilities	1,263	1,279
Trade and other payables	20,261	22,092
Income tax payables	343	587
Other current liabilities	4,039	5,049
Current liabilities	34,269	37,827
Non-current liabilities
Long-term debt	20,139	21,570
Long-term lease liabilities	4,437	5,174
Provisions	14,580	15,774
Provisions for employee benefits	596	681
Deferred tax liabilities	4,805	5,581
Income tax payables	40	40
Other non-current liabilities	3,390	4,449
Non-current liabilities	47,987	53,269
Liabilities directly associated with assets held for sale	2,026	195
TOTAL LIABILITIES	84,282	91,291
EQUITY
Share capital	4,005	4,005
Retained earnings	33,209	32,552
Cumulative currency translation differences	1,936	8,081
Other reserves and equity instruments	8,964	8,406
Treasury shares	(2,782)	(2,883)
Profit	2,608	2,624
Equity attributable to equity holders of Eni	47,940	52,785
Non-controlling interest	4,847	2,863
TOTAL EQUITY	52,787	55,648
TOTAL LIABILITIES AND EQUITY	137,069	146,939
Related parties
Current assets
Other current financial assets	2,357	48
Trade and other receivables	1,375	1,601
Other current assets	76	54
Non-current assets
Other non-current financial assets	612	2,380
Other non-current assets	207	142
Current liabilities
Short-term debt	265	136
Current portion of long-term debt	128	21
Current portion of long-term lease liabilities	108	152
Trade and other payables	4,283	4,017
Other current liabilities	86	34
Non-current liabilities
Long-term debt	52	79
Long-term lease liabilities	40	31
Other non-current liabilities	€ 462	€ 520