NEW YORK (UNITED STATES) (ITALPRESS) – Eni celebrated at the headquarters of the New York Stock Exchange the thirtyth year of listing in the United States, in the presence of Ad Claudio Descalzi and the top management of the company. On the occasion of the event, the Ad focused on the development of the company’s distinctive strategy, which leverages its competitive strengths in the context of a rapidly changing energy market, developing a portfolio of consolidated, new and emerging activities that generate highly competitive growth and attractive returns for shareholders. Since the IPO of Eni, US investors have been part of the company: to date represent 25% of Eni’s floating stock, namely the country individually with greater weight outside Italy, and about 40% of institutional investors in the Company. Eni draws a significant value from the comparison with its investors, and their support and feedback while continuing to execute its strategy.
Eni’s focus on the implementation of its strategy and medium-term growth is accompanied by long-term sustainability and optionality. In addition to a very targeted approach on how Eni operates in rapidly changing energy markets, the other highly distinctive feature of the Company’s strategy is the use of satellite companies. This strategy leverages the changing capital markets to address the challenges and opportunities of energy markets. In a context of volatility and uncertainty, a solid financial position is essential to enable the strategy to be pursued consistently. Eni has materially reduced the debt thanks to the strategic and timely high grading of the portfolio, the operations related to the Dual Exploration Model and the valorization of the satellite societies related to the transition. The Eni budget guarantees resilience and provides a source of strategic optionality. It also provides a guarantee on the Company’s commitment to distribute 35-40% of the CFFO to shareholders, a level that implies an attractive return for shareholders, but leaves adequate resources to reinvest in order to continue growing Eni.
“We are creating an important and complex transition for Eni, in a geopolitical, industrial and market context volatile and uncertain. Thanks to our strategy and the capabilities of our people, we are getting really important results. We have built a strategy that demonstrates to generate growth, efficiency and value creation for our shareholders, and at the same time we have adapted it to the evolving energy markets and a long-term vision. Our focused approach, based on our competitive strengths, in technological terms, innovation and integration, has enabled us to transform Eni into a financially solid company with historically low indebtedness levels and highly resilient cash flows.” Thus the Ad of Eni, Claudio Descalzi, pointing out on the strategy of society during the celebration of the 30 quotation at Nyse.
“We continue to invest in our world-class exploration and production business, while developing the diversification of our energy mix, geographic presence, supply routes and decarbonization areas – activities that will ensure sustainable business in the future. We have still ahead of us important goals to achieve, and the great work done so far puts us at the best to be able to do it,” he added.
– Eni press office photos –
(ITALPRESS).
