Eni Q3 and Nine-Month 2025 Results
- FY25 share buyback increased by €0.3 bln to €1.8 bln, with proforma leverage at historic lows.
- Coral North FLNG project in Mozambique reached FID; completion expected by 2025 YE.
- Ares Fund nearing completion of 20% investment in Plenitude for €2 bln.
- Plenitude's renewable capacity at 4.8 GW, targeting 5.5 GW by year-end.
Financial Performance
Eni reported strong Q3 2025 results, with top-line growth and cost efficiencies leading to an upward revision of its full-year cash generation outlook. The share buyback for FY25 increased by €0.3 billion to €1.8 billion, supported by a healthy financial position and proforma leverage at historic lows.
Upstream Developments
The quarter saw a 6% year-on-year production growth, with significant progress in the Coral North FLNG project in Mozambique, which reached the Final Investment Decision (FID). The sale of a 30% stake in the Baleine oilfield offshore Côte d’Ivoire was completed, and the development of a new E&P satellite in Indonesia focused on Asian LNG is on track for completion by the end of 2025.
Transition Strategy
Eni continued to advance its transition strategy, with upgrades initiated at the Brindisi, Sannazzaro, and Priolo hubs. The company is nearing the completion of a 20% investment by Ares Fund in Plenitude for €2 billion. Additionally, a new satellite is being established with GIP to enhance the CCUS business.
Renewable Energy
Plenitude's installed renewable capacity reached 4.8 GW, aligning with the target of 5.5 GW by the end of the year. This progress is part of Eni's broader strategy to transform its downstream operations and expand its renewable energy portfolio.
Source: Eni