Eni sees Q1 profit decline, chemicals unit posts higher loss

Italian energy group Eni reported an adjusted net profit of €1.41 billion for Q1 2025, down by 11% from €1.58 billion in the same period last year. The company’s net profit exceeded the analyst consensus of €1.15 billion. Eni also posted a group pro-forma adjusted EBIT of €3.7 billion for Q1 2025, up 36% sequentially but down 11% year-on-year.

Eni’s Chemicals segment, managed by its subsidiary Versalis, reported a pro-forma adjusted loss of €243 million in Q1 2025, a 45% increase compared to the loss in Q1 2024. This loss was attributed to a continuing downturn in the European chemical sector, driven by macroeconomic headwinds and comparatively higher production costs in Europe.

The higher production costs in Europe reduced the competitiveness of Versalis’ products compared to US and Asian players in an oversupplied market. This challenging environment further impacted the segment’s performance.