MOSCOW (MRC) -- Eni reported that its third-quarter loss attributable to shareholders from continuing operations narrowed to 562 million euros from 783 million euros, a year ago, said Poandro.
Loss per share from continuing operations was 0.16 euros compared to a loss of 0.21 euros. Adjusted operating profit was 258 million euros, down by 66.3%. READ MORE Abercrombie & Fitch Q1 GAAP net loss USD63.2 million.
Adjusted loss attributable to shareholders from continuing operations was 484 million euros compared to a loss of 54 million euros, prior year. Adjusted loss widened due to a weaker operating performance, lower results from E&P equity-accounted entities and the company's reduced ability to recognize deferred tax assets on the basis of a muted outlook for future taxable earnings.
Third-quarter net sales from continuing operations was 13.12 billion euros compared to 16.01 billion euros, previous year. Hydrocarbon production at 1.71 million boe/d, up by 0.4% in the quarter; excluding the Val d'Agri shutdown, portfolio transactions and price effects in PSAs, production rose by 2.2%.
As MRC informed earlier, in June 2016, Eni announced that it could not reach an agreement with the US private equity firm SK Capital to sell a majority stake in ENI’s chemicals subsidiary Versalis (Milan) and has terminated the discussions.
Eni is an Italian multinational oil and gas company headquartered in Rome. It has operations in in 79 countries, and is currently Italy's largest industrial company with a market capitalization of EUR68 billion (USD 90 billion), as of August 14, 2013. The Italian government owns a 30.3% golden share in the company, 3.93% held through the state Treasury and 26.37% held through the Cassa depositi e prestiti. Another 39.40% of the shares are held by BNP Paribas.
MRC