Eni closes the second quarter 2025 with a profit higher than estimates, 1.5 billion buyback and new deposits between Namibia and Angola
Eni archives the first half of 2025 with numbers higher than expected, despite a global scenario far from favorable. The group recorded a rectified net profit of 1.13 billion euros in the second quarter of the year, with a drop of 25% compared to the same period of the previous year. Still, the result was superior to the analysts’ forecasts and is part of a framework of financial solidity that leaves the market quietly. It is no coincidence that the ENI stock was rewarded with a +1.82% to 14.662 euros.
The difference was the strategic approach and strength of the industrial model of Eni, as pointed out by the CEO Claudio Descalzi himself. The operating cash flow reached 2.8 billion, a fact that has widely covered the investments of the period, allowing the company to maintain its debt position to historical lows: 0.10, in an unfavorable currency context between euros and dollar. Despite the drop in hydrocarbons production (- 2.6% compared to 2024), Eni continues to demonstrate the solidity of its portfolio. As Descalzi said: “Our portfolio is increasingly robust, the financial discipline remains rigorous and the break-Even of the projects remains content”. In other words, the group is able to successfully navigate the agitated waters of the energy markets, where the volatility of the commodity prices and the weakening of the dollar have created many difficulties for companies in the sector.
But Eni doesn’t stop. The company has scored several strategic industrial developments, including a new oil field in Namibia and a significant discovery of gas in Angola, which further strengthen its position on the global market. Another important project concerns Argentina destined to become one of the main Hubs for the export of liquefied gas, with an ambitious goal: to export 30 million tons per year by 2030. Furthermore, the agreement with Petronas for the joint development of gas resources in Indonesia and Malaysia marks a further step in the construction of a diversified and strategic portfolio.
Another important aspect of the results is the confirmation of the return plan to the shareholders, which includes the increase in dividend by 5%, brought to 1.05 euros per share, and a plan for the recourse shares shares for at least 1.5 billion euros. The Buyback strategy was one of the key points of Descalzi’s statements, which said it was optimistic about the possibility of expanding it in the coming months, given the solidity of the financial results. “The trend is very positive,” said the CEO, adding that “we will see in the coming months if we can continue with this trend and consider expanding the buyback, we will clearly see it.”
Looking to the future, Descalzi expressed a strong optimism: “We can expect a second half of the positive year and an even more promising 2026.” The company, in fact, has revised up the cash generation forecasts for 2025, thanks also to the implementation of its efficiency and diversification strategies of the sources of income. Eni’s industrial plan aims to generate about 3 billion euros of additional liquidity through new initiatives during the next quarters, which will allow the group to continue in its growth without compromising its financial stability.
