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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
ENERGY SECTOR
- For Q4 the market is looking for Rev of EUR 27bn (-16% YoY) YoY, BOE/Day of 1.7bn, adj-Op Inc of EUR 3bn (-17%) and adj-Income of EUR 1.6bn (-35%).
- Eni is expected to meet it’s FY23 guidance across most metrics, though the market sees FY24 slightly slower.
- Eni’s largest EUR line, their 4.3% 2028s, while broadly flat since, have underperformed peers since Q3 earnings – underlying credit quality looks strong for their Baa1/A rating but upgrades are constrained by the Italian sovereign rating. Also again flagging the below from our policy service:
- {QB}{QB}{QB}{IT} MNI speaks to Italian officials about upcoming privatisations including a potential sale of a stake in energy company ENI - On MNI Policy MainWire now, for more details please contact sales@marketnews.com
FY23 Guidance | FY23 Consensus | FY24 Consensus | |
EBIT | EUR 14bn | EUR 13.9bn | EUR 13bn |
CFO Before WC | EUR 16.5bn | EUR 16.6bn | EUR 16bn |
CapEx | EUR 9bn | EUR 8.9bn | EUR 9.3bn |
Leverage | 0.1x-0.2x | 0.25x | 0.22x |
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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