On an adjusted basis, operating profit was E5.29 billion, up 10.8% due to a better operating performance reported mainly by the exploration and production division (E&P), driven by higher realizations, the company said. Both the petrochemicals and refining and marketing divisions incurred an operating loss due to an unfavorable trading environment.
Reported operating profit for the full year 2007 was E18.87 billion, down 2.4% from a year ago. On an adjusted basis, operating profit was E18.99 billion, down 7.3%, due to a weaker operating performance in the E&P and refining and marketing divisions.
Reported net profit for the full year 2007 was E10 billion, up 8.6%. On an adjusted basis, net profit was E9.47 billion, down 9%, mainly as a result of the lower operating performance.
Paolo Scaroni, CEO, said: Eni delivered excellent results for the full year 2007 despite the euro’s strong appreciation versus the US dollar. We reinforced our growth strategy by completing a number of competitively priced acquisitions which will deliver further value in years to come, starting from 2008.
