ENI S.P.A 
March 2024
Company presentation
LEGAL DISCLAIMER
This document contains forward-looking statements regarding future events and the future results of Plenitude that are based on current expectations, estimates, forecasts, and projections about the industries in which Plenitude operates and the beliefs and assumptions of the management of Plenitude. In addition, Plenitude's management may make forward-looking statements orally to analysts, investors, representatives of the media and others. In particular, among other statements, certain statements with regard to management objectives, trends in results of operations, margins, costs, return on capital, risk management and competition are forward looking in nature. Words such as 'expects', 'anticipates', 'targets', 'goals', 'projects', 'intends', 'plans', 'believes', 'seeks', 'estimates', variations of such words, and similar expressions are intended to identify such forward-looking statements. These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties, and assumptions that are difficult to predict because they relate to events and depend on circumstances that will occur in the future. Therefore, Plenitude's actual results may differ materially and adversely from those expressed or implied in any forward-looking statements. Factors that might cause or contribute to such differences include, but are not limited to, those discussed in Eni's Annual Reports on Form 20-F filed with the U.S. Securities and Exchange Commission (the "SEC") under the section entitled "Risk factors" and in other sections. These factors include but are not limited to:
- Strong competition worldwide to supply energy to the industrial, commercial and residential energy markets;
- Safety, security, environmental and other operational risks, and the costs and risks associated with the requirement to comply with related regulation, including regulation on GHG emissions;
- Material disruptions arising from political, social and economic instability, particularly in light of the areas in which Plenitude operates;
- Risks associated with the trading environment, competition, and demand and supply dynamics in the natural gas market;
- Laws and regulations related to climate change;
- Risks related to legal proceedings and compliance with anti-corruption legislation;
- Risks arising from potential future acquisitions; and
- Exposure to exchange rate, interest rate and credit risks.
Any forward-looking statements made by or on behalf of Plenitude speak only as of the date they are made. Plenitude does not undertake to update forward-looking statements to reflect any changes in Plenitude's expectations with regard thereto or any changes in events, conditions or circumstances on which any such statement is based. The reader should, however, consult any further disclosures Eni or Plenitude may make in documents it files with or furnishes to the SEC and Consob.
The Company will issue its financial and operating targets for 2024 and its strategic plans at a Capital Markets Day scheduled on March 14, 2024. A press release summarizing the Group's strategy and objectives will be issued on the same day and disseminated through the Company's website and other public channels as required by applicable listing standards.
2
PLENITUDE
GLOBAL PRESENCE
>2.5k EMPLOYEES & 15 COUNTRIES
3
EBITDA is adjusted including 100% of consolidated and pro-quota of non-consolidated companies.
2024
OPERATING TARGET
AVERAGE ROACE ~10%
IN THE MEDIUM TERM
RENEWABLES
4 GW CAPACITY | EBITDA (€ BLN) |
SOLAR & WIND
2.0 | ||
RETAIL | ||
10 MLN CUSTOMERS | ||
ENERGY & SOLUTIONS | 1.0 | |
E-MOBILITY | ||
24K PUBLIC CPs | ||
OWNED EV NETWORK | 2024 | 2027 |
EV > €10 BLN | ||
E-MOBILITY | ||
Market deal finalized | RETAIL | |
RENEWABLES | ||
CONSISTENT GROWTH
EBITDA | € BLN
0.7 | 0.9 | 1 | ||||
0.4 | 0.5 | 0.6 | ||||
0.3 | ||||||
2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
INST. CAPACITY | CUSTOMERS |
GW | MLN |
GUIDANCE 2023 | 3 | ✓ | 10 ✓ |
(March 2023) | |||
GUIDANCE 2022 | 2 | ✓ | 10 ✓ |
(March 2022) | |||
4
2
2027 2030
CPs | EBITDA | |
k | € BLN | |
20 ✓ | >0.7 | ✓ |
12 ✓ | >0.6 | ✓ |
EBITDA is adjusted and includes 100% of the consolidated companies and the pro-quota of the non-consolidated companies.
GROWTH ALONG THE 2024-27 PLAN
RENEWABLES | RETAIL | E-MOBILITY |
INTEGRATION
TO HEDGE MARGINS AND CAPTURE OPPORTUNITIES
>20GW PIPELINE
TO FUEL ORGANIC & SELECTIVE
GROWTH IN RENEWABLES
>8 GW INSTALLED
in 2027 (~3x vs 2023)
ORGANIC
DEVELOPMENT
2 GW in construction
5
11.5 MLN CUSTOMERS
in 2027 (+15% vs 2023)
GROWING
IN POWER
+2 MLN in the plan
40k PUBLIC CPs
in 2027 (2x vs 2023)
EBITDA
POSITIVE
from 2025
ENERGY SOLUTIONS &
DISTRIBUTED GENERATION
20% OF AVG RETAIL EBITDA
EV FAST NETWORK
DC IN EUROPE: 7x IN THE PLAN
RENEWABLES
EBITDA (€ BLN)
4Y: >€2 BLN | ||
>0.8 | ||
0.2 | >0.2 | |
2023 | 2024 | 2027 |
TECHNOLOGY MIX
>8 GW
@2027
CAPEX (€ BLN) | |
1.8 | |
1.0 | |
2023 | AVG 24-27 |
PIPELINE | |
HIGH/ | |
MEDIUM MATURITY |
>20 GW
(+50% YoY)
IN | 2 |
CONSTRUCTION | LOW MATURITY/ |
PROSPECTS |
STRATEGIC DRIVERS
- Geographical diversification in OECD countries
- Organic development & selective growth
- Retail as Route to Market
- Opportunities from frontier technology: wind offshore & battery storage
6 | Installed capacity an pipeline figure is in Plenitude share. |
EBITDA is adjusted and both EBITDA and CAPEX include 100% of the consolidated companies and the pro-quota of the non-consolidated companies. |
Prospects category includes offshore developments, for a total of 7 GW, already identified but not yet secured (COD expected after 2028 and ongoing M&A)
RENEWABLES - KEY PROJECTS
Brazoria | 1 | |||
Working Interest: 100% | ||||
Equity Capacity Installed: 263MW | ||||
Completion: 2022 | ||||
Yearly Production: 450GWh | ||||
Guajillo | B | 2 | ||
Working Interest: 100%
Solar PV | Onshore Wind | Offshore Wind | B Storage |
BRAZORIA 1
GUAJILLO 2
5
SHAULDER
GEOGRAPHIC PRESENCE
@2027
others
Equity Capacity Installed: 200MW
Completion: 2024
Yearly Production: 150GWh
Caparacena, 3
Guillena, Villarino,
La Flota, Renopool
Working Interest: 100%
Equity Capacity Inst.: 1,020MW
Completion: 2024-2025
Yearly Production: 2,080GWh
Orense | 4 |
Working Interest: 100%
Equity Capacity Installed: 100MW
Completion: 2025
Yearly Production: 210GWh
6 BANKDOGGER | |||||||
Shaulder | 5 | 8 | |||||
SAMOUSSY | |||||||
Working Interest: 100% | HERGO | ||||||
4 ORENSE | 10 REN. TOUMBA & | ||||||
Equity Capacity Installed: 50MW | |||||||
Completion: 2023 | GUILLENA, | 9 | MANDRIA | ||||
Yearly Production: 90GWh | 3 | 7 | |||||
CAPARACENA, | GREENIT | ||||||
VILLARINO, | |||||||
6 | |||||||
Dogger Bank | LA FLOTA, | ||||||
RENOPOOL | |||||||
(A, B, C) | |||||||
Working Interest: 13% | |||||||
Equity Capacity Installed: 470MW | |||||||
Completion: 2023-2026 | |||||||
Yearly Production: 2,200GWh | |||||||
Toumba7 & Mandria
Working Interest: 100%
Equity Capacity Installed: 160MW
Completion: 2025
Yearly Production: 250GWh
Samoussy 8
Working Interest: 100%
Equity Capacity Installed: 90MW
Completion: 2022
Yearly Production: 90GWh
GreenIT 9
PV portfolio
Working Interest: 51%
Total Capacity Installed: 80MW
Completion: 2024-2025
Yearly Production: 140GWh
Hergo Ren. | 10 |
PV portfolio |
Working Interest: 65%
Total Capacity Installed: 140MW
Completion: 2024-2025
Yearly Production: 140GWh
7 | Storage: BESS production refers to annual energy dispatched. |
Completion represents the final construction stage excluding the grid connection, meaning that all principal components | |
have been installed. Pre-commissioning activities fall within the construction phase. |
RETAIL
EBITDA (€ BLN)
4Y: >€3 BLN
>0.8
0.7>0.7
2023 2024 2027
ENERGY MIX
POWER | 11.5 MLN | GAS |
+2 MLN | -0.6MLN | |
@2027 | ||
vs 2023 | vs 2023 | |
8 EBITDA figure is adjusted.
Solar distributed generation refers to plants under management
CAPEX (€ BLN) | STRATEGIC DRIVERS | |||||
0.3 | 0.25 | |||||
o Growing in power | ||||||
o Increasing RES integration | ||||||
o Energy solutions & distributed | ||||||
2023 | AVG 24-27 | |||||
generation |
EBITDA FROM SOLUTIONS
o International growth platform
20%
avg on 23-27 EBITDA retail
SOLAR DISTRIBUTED GENERATION
20k PLANTS @YE23
EQUAL TO 100 MW
E-MOBILITY
SALES (€ BLN) | CAPEX (€ BLN) |
STRATEGIC DRIVERS
0.03
4Y: >3 BLN
1.5
0.3
0.15 |
0.12 |
- Italy: expanding the capillary network
2023 | 2024 | 2027 |
2023 | AVG 24-27 |
- EU: focus on ultra fast CPs
- Synergies with Retail
INSTALLED MIX | PIPELINE (CPs) |
AC | 40k | DC | REST OF | >50k | ITALY |
+6k | @2027 | +14k | EUROPE | ||
vs 2023 | vs 2023 |
DC CPs CAPEX BREAKEVEN: 90 MINs/DAY FOR 3 YEARS
9 Capex breakeven is subject to margins assumptions. DC CPs at nominal capacity.
- Leveraging EniLive stations
- Partnerships with GDOs and car makers
KEY CONSOLIDATED DATA
CFFO ante WC (€ BLN)
1 | |
>0.6 | |
2023 | AVG 24-27 |
CAPEX (€ BLN)
1.6 | |
1.2 | |
2023 | AVG 24-27 |
NET DEBT/ EBITDA
2.5x | <3x |
2023 | AVG 24-27 |
NET DEBT YE23:
€2.4 BLN
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Eni S.p.A. published this content on 12 April 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 12 April 2024 15:31:14 UTC.
