ENI SpA : Q1 2019 results a shade below our expectations, cash generation and the outlook are reassuring
>EBIT -7% below the consensus and attributable net profit -16% below expectations - Adjusted EBIT was € 2.354bn in Q1 2018, respectively, 9% and 7% below our forecasts and those of the consensus (ODDO BHF: € 2.595bn; consensus: € 2.530bn). Attributable net profit totalled € 992m, -31.6% q-o-q/+1.4% y-o-y and 12.5%/5.5% below our expectations and the consensus with a disappointment at the downstream level, partially offset by a good performance in G&P, the tax rate i...Eni is engaged in the oil and gas exploration and production, gas marketing operations, management of gas infrastructures, power generation, petrochemicals, oil field services and engineering industries. Co.'s operations are divided into three segments; Exploration and Production (oil and natural gas exploration and field development and production, as well as LNG operations), Gas and Power (supply, trading and marketing of gas and electricity, managing gas infrastructures for transport, distribution, storage, re-gasification, and LNG supply and marketing), and Refining and Marketing (supply of crude oil, refining and marketing of refined products). Co. maintains operations in 73 countries.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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