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eni San Donato Milanese October 29 , 2021 Q2 2021 68.83 Brent dated 1.206 Average EUR / USD exchange rate 264 Spot Gas price at Italian PSV 1 Spread PSV vs. TTF ( 0.4 ) Standard Eni Refining Margin ( SERM ) 1,597 Hydrocarbon production 2,045 Adjusted operating profit ( loss ) ( a ) 1,841 24 190 108 929 0.24 Eni results for the third quarter and nine months of 2021 Key operating and financial results 247 E & P Global Gas & LNG Portfolio ( GGP ) R & M and Chemicals Eni gas e luce , Power & Renewables Adjusted net profit ( loss ) ( a ) ( b ) per share - diluted ( € ) Net profit ( loss ) ( b ) per share - diluted ( € ) Cash flow from operations before changes in working capital at replacement cost ( a ) 0.06 2,797 2,717 Net cash from operations 1,519 Net capital expenditure ( c ) 10,040 Net borrowings before lease liabilities ex IFRS 16 15,323 Net borrowings after lease liabilities ex IFRS 16 40,580 0.25 0.38 Shareholders ' equity including non - controlling interest Leverage before lease liabilities ex IFRS 16 Leverage after lease liabilities ex IFRS 16 ( a ) Non - GAAP measure . For further information see the paragraph " Non - GAAP measures " on page 20 . ( b ) Attributable to Eni's shareholders . ( c ) Net of expenditures relating to business combinations , purchase of minority interests and other non - organic items . $ / bbl € / kcm -1 $ / bbl kboe / d Registered Head Office , Piazzale Enrico Mattei , 1 00144 Roma € million Tel . +39 06598.21 www.eni.com Nine months 2021 2020 % Ch . 67.73 40.82 66 1.196 1.125 6 319 95 ( 2 ) 0.4 ) 1,663 5,858 5,663 15 2.2 44 256 110 374 333 2,630 ( 808 ) 57 0.72 ( 0.23 ) 2,306 ( 7,838 ) 0.63 ( 2.19 ) 88 8,096 5,144 7,026 3,834 83 4,042 3,761 7 11,309 14,525 ( 22 ) 16,622 19,853 ( 16 ) 40,280 36,533 10 0.28 0.40 0.41 0.54 Q3 2021 2020 % Ch . 73.47 43.00 71 1.179 1.169 1 91 10 491 ( 9 ) ( 0.4 ) 0.7 1,688 1,701 2,492 2,444 50 186 64 ⠀⠀ ( 1 ) 537 364 515 64 21 57 1,431 ( 153 ) 0.40 ( 0.04 ) 1,203 ( 503 ) 0.33 ( 0.14 ) 3,339 1,774 1,456 2,933 101 1,136 899 26 11,309 14,525 ( 22 ) 16,622 19,853 ( 16 ) 40,280 36,533 10 0.28 0.40 0.41 0.54 ( 22 ) : 12 1,740 ( 4 ) 1,410 315 745 427 ( 90 ) 12 Eni's Board of Directors , chaired by Lucia Calvosa , yesterday approved the unaudited consolidated results for the third quarter and the nine months of 2021 ( not subject to audit ) . Eni CEO Claudio Descalzi said : " The excellent results this quarter demonstrate our continued strong economic and financial performance . Upstream production has recovered from maintenance and grown by 6 % to 1.69 million boe / d in line with guidance . Eni also strengthened its leading position in exploration and in the model of valorizi and developi discovered resources . The company is fast tracking execution of the Baleine pect in Ivory Coast to supply gas to the domestic market - designing for the first time an upstream project with net zero operational emissions since the beginning . In the Gas and LNG business , we have optimized our portfolio and have been progressing important negotiations with a significant expected contribution to our full year results . Thanks to the performance of all our businesses , in the third quarter we've generated a € 2.5 billion adjusted Ebit and a € 1.4 billion adjusted net profit amongst the highest of recent years . Furthermore , in the first nine months of this year , strong cash generation and the careful management of costs has created over € 4 billion of free cash flow , which more than covers the overall 2021 dividend and buyback . In an increasingly solid business context , we are accelerating our transition plan : the listing of our Retail & Renewables company will allow us to generate further value from a unique business model , which is essential for decarbonising the consumption of our retail customers . We also continue to invest to progress the UK HyNet CCS project , which is competing to obtain funds from the UK Government . Our long - term range of options has been further enhanced with the success of the magnetic fusion test which could lead to a disruptive technological evolution for future power generation . Eni will remain focused on capital discipline to reduce our cash neutrality , the rapid deployment of new technologies to speed up the execution of our decarbonization plans and , on the acceleration in establishing dedicated business vehicles as a key strategic element to focus our growth and to highlight the full value of our portfolio . "