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Eni Meets FY Target Despite Eni Q4 Op Income Miss And Slightly Higher CapEx

ENERGY SECTOR


  • Looks like Eni slight beat consensus by 1.2% on Q4 Daily Production but missed by 7% on adj-Op Income while adj-Income was in line.
  • FY results mostly in line with consensus and FY targets – CapEx of EUR 9.2bn slightly higher than the EUR 8.9bn consensus and EUR 9bn target.
  • No FY24 targets included – to be announced at the CMD on 14 March.
  • Spreads slightly streaming wider in early trading – EUR 4.3% 28s 3bps wider vs. govies.

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