(Il Sole 24 Ore Radiocor) - Milano, 24 apr - Italian energy company Eni said it was increasing its full year guidance for cash flow from operations (CFFO) by 20% to 13.8 billion euros reflecting the strong underlying performance in the first quarter and improved price scenario.

Eni now assumes a revised Brent scenario of 83 dollars per barrel, SERM refining margin at 8 dollars per barrel, TTF gas price at 50 euro per MWh, at an exchange rate EUR/USD of 1.15.

The group also upped its proposed share buyback by 90% to 2.8 billion euros.

In the first quarter, proforma adjusted EBIT came in at 3.536 billion euros, down 4% from a year ago but up from 2.865 billion in the fourth quarter. The result was driven by Exploration & Production (E&P), up an annual 1% to 3.357 billion euros and higher than 2.795 billion in the fourth quarter. The transition business reported 4% annual growth to 351 million euros compared with 279 million in the fourth quarter, and Global Bas & LNG (GGP) was down an annual 31% to 327 million euros but up from 186 million in the final three months of 2025.

Adjusted net profit fell 8% to 1.302 billion euros but was higher than 1.196 billion in the fourth quarter.

Eni said that the annual decline was impacted by currency effects.

CFFO before working capital in the quarter fell 16% to 2.878 billion euros and was lower than the 3.01 billion in the fourth quarter.

Hydrocarbon production rose an annual 9% to 1.798 million barrels of oil equivalent per day. In the fourth quarter, production was 1.839 million boe/d.

For the full year, Eni expects underlying oil & gas production growth of 3-4%, GGP adjusted proforma EBIT at around 1.3 bln euros, up 30% from the initial forecast. The full year Enilive proforma adjusted EBITDA is seen at 1.1.

billion euros and for Plenitude at 1.3 billion.

(RADIOCOR) 24-04-26 08:27:40 (0161) 5 NNNN