BAKU, Azerbaijan, April 25. Eni Plenitude reported a growth in its pro forma adjusted Earnings Before Interest and Taxes (EBIT) to 242 million euros in 1Q2024, marking an 83-percent increase year-on-year (132 million euros in 1Q2023), Trend reports.
As the company explained, this growth was attributed to several key factors, including higher retail commodity margins, supported by lower scenario volatility.
Additionally, Eni Plenitude experienced improved performance in international retail markets, contributing to the overall boost in EBIT.
Furthermore, the ramp-up in renewable installed capacity and related production volumes played a significant role in driving the company's positive financial performance.
In addition to the surge in EBIT, Eni Plenitude reported a pro forma adjusted Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) of 346 million euros. This figure represents a notable 48-percent increase compared to 1Q2023 (233 million euros).