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Segment information and information by geographical area | 12 Months Ended
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Dec. 31, 2020
Segment information and information by geographical area |
Segment information and information by geographical area | 35 Segment information and information by geographic area Segment information Effective July 1, 2020, Eni’s management redesigned the macro-organizational structure of the Group, in line with its new long-term strategy, disclosed in February 2020 to the market and aimed at transforming the Company into a leader in the production and marketing of decarbonized energy products. The new organization is based on two new General Departments:
| · |  | Natural Resources, to build up the value of Eni's oil&gas upstream portfolio, with the objective of reducing its carbon footprint by scaling up energy efficiency and expanding production in the natural gas business, and its position in the wholesale market. Furthermore, it will focus its actions on the development of carbon capture and compensation projects. The General Department will incorporate the Company's oil&gas exploration, development and production activities, natural gas wholesale via pipeline and LNG. In addition, it will include forests conservation (REDD+) and carbon storage projects. The company Eni Rewind (environmental activities), will also be consolidated in this General Department.
| · |  | Energy Evolution will focus on the evolution of the businesses of power generation, transformation and marketing of products from fossil to bio, blue and green. In particular, it will focus on growing power generation from renewable energy and biomethane, it will coordinate the bio and circular evolution of the Company's refining system and chemical business, and it will further develop Eni's retail portfolio, providing increasingly more decarbonized products for mobility, household consumption and small enterprises. The General Department will incorporate the activities of power generation from natural gas and renewables, the refining and chemicals businesses, Retail Gas&Power and mobility Marketing. The companies Versalis (chemical products) and Eni gas e luce will also be consolidated in this General Department.
In re-designing the Group’s segment information for financial reporting purposes, the management evaluated that the components of the Company whose operating results are regularly reviewed by the Chief Operating Decision Maker (CEO) to make decisions about the allocation of resources and to assess performances would continue being the single business units which are comprised in the two newly-established General Departments, rather than the two groups themselves. Therefore, in order to comply with the provisions of the international reporting standard that regulates the segment reporting (IFRS 8), the new reportable segments of Eni, substantially confirming the pre-existing setup, are identified as follows:
| · |  | Exploration & Production: research, development and production of oil, condensates and natural gas, forestry conservation (REDD+) and CO2 capture and storage projects.
| · |  | Global Gas & LNG Portfolio (GGP): supply and sale of wholesale natural gas by pipeline, international transport and purchase and marketing of LNG. It includes gas trading activities finalized to hedging and stabilizing the trade margins, as well as optimising the gas asset portfolio.
| · |  | Refining & Marketing and Chemicals: supply, processing, distribution and marketing of fuels and chemicals. The results of the Chemicals segment were aggregated with the Refining & Marketing performance in a single reportable segment, because these two operating segments have similar economic returns. It comprises the activities of trading oil and products with the aim to execute the transactions on the market in order to balance the supply and stabilize and cover the commercial margins.
| · |  | Eni gas e luce, Power & Renewables: retail sales of gas, electricity and related services, production and wholesale sales of electricity from thermoelectric and renewable plants. It includes trading activities of CO2 emission certificates and forward sale of electricity with a view to hedging/optimising the margins of the electricity.
| · |  | Corporate and Other activities: includes the main business support functions, in particular holding, central treasury, IT, human resources, real estate services, captive insurance activities, research and development, new technologies, business digitalization and the environmental activity developed by the subsidiary Eni Rewind.
Segment information presented to the CEO (i.e. the Chief Operating Decision Maker, ex IFRS 8) includes: revenues, operating profit and directly attributable assets and liabilities. According to the requirements of the international accounting standards regarding segment information in the event of a reorganization of business segments, the segment information for the 2019 and 2018 comparative periods have been restated for homogeneous comparison as follows. As reported in 2019:
|  |  |  |  |  | Refining & |  | Corporate |  | Adjustments |  |
|  | Exploration & |  |  |  | Marketing |  | and Other |  | of intragroup |  |
(€ million) |  | Production |  | Gas & Power |  | and Chemicals |  | activities |  | profits |  | Total
2019 |  |  |  |  |  |  |  |  |  |  |  |
Sales from operations including intersegment sales |  | 23,572 |  | 50,015 |  | 23,334 |  | 1,681 |  |  |  |
Less: intersegment sales |  | (13,073) |  | (11,855) |  | (2,317) |  | (1,476) |  |  |  |
Sales from operations |  | 10,499 |  | 38,160 |  | 21,017 |  | 205 |  |  |  | 69,881
Operating profit |  | 7,417 |  | 699 |  | (854) |  | (710) |  | (120) |  | 6,432
Identifiable assets (a) |  | 68,915 |  | 9,176 |  | 12,336 |  | 1,860 |  | (492) |  | 91,795
Identifiable liabilities (a) |  | 20,164 |  | 7,852 |  | 4,599 |  | 3,927 |  | (141) |  | 36,401
2018 |  |  |  |  |  |  |  |  |  |  |  |
Sales from operations including intersegment sales |  | 25,744 |  | 55,690 |  | 25,216 |  | 1,589 |  |  |  |
Less: intersegment sales |  | (15,801) |  | (12,581) |  | (2,622) |  | (1,413) |  |  |  |
Sales from operations |  | 9,943 |  | 43,109 |  | 22,594 |  | 176 |  |  |  | 75,822
Operating profit |  | 10,214 |  | 629 |  | (380) |  | (691) |  | 211 |  | 9,983
Identifiable assets (a) |  | 63,051 |  | 9,989 |  | 11,692 |  | 1,171 |  | (420) |  | 85,483
Identifiable liabilities (a) |  | 18,110 |  | 8,314 |  | 4,319 |  | 4,072 |  | (275) |  | 34,540
| (a) |  | Include assets/liabilities directly associated with the generation of operating profit.
As restated:
|  |  |  |  |  | Refining & |  | Eni gas e |  | Corporate |  | Adjustments |  |
|  | Exploration & |  | Global Gas & |  | Marketing |  | luce, Power & |  | and Other |  | of intragroup |  |
(€ million) |  | Production |  | LNG Portfolio |  | and Chemicals |  | Renewables |  | activities |  | profits |  | Total
2019 |  |  |  |  |  |  |  |  |  |  |  |  |  |
Sales from operations including intersegment sales |  | 23,572 |  | 11,779 |  | 42,360 |  | 8,448 |  | 1,676 |  |  |  |
Less: intersegment sales |  | (13,073) |  | (2,549) |  | (384) |  | (476) |  | (1,472) |  |  |  |
Sales from operations |  | 10,499 |  | 9,230 |  | 41,976 |  | 7,972 |  | 204 |  |  |  | 69,881
Operating profit |  | 7,417 |  | 431 |  | (682) |  | 74 |  | (688) |  | (120) |  | 6,432
Identifiable assets (a) |  | 68,915 |  | 4,092 |  | 13,569 |  | 4,068 |  | 1,643 |  | (492) |  | 91,795
Identifiable liabilities (a) |  | 20,164 |  | 3,836 |  | 6,272 |  | 2,380 |  | 3,890 |  | (141) |  | 36,401
2018 |  |  |  |  |  |  |  |  |  |  |  |  |  |
Sales from operations including intersegment sales |  | 25,744 |  | 14,807 |  | 46,483 |  | 8,218 |  | 1,588 |  |  |  |
Less: intersegment sales |  | (15,801) |  | (2,876) |  | (395) |  | (534) |  | (1,412) |  |  |  |
Sales from operations |  | 9,943 |  | 11,931 |  | 46,088 |  | 7,684 |  | 176 |  |  |  | 75,822
Operating profit |  | 10,214 |  | 387 |  | (501) |  | 340 |  | (668) |  | 211 |  | 9,983
Identifiable assets (a) |  | 63,051 |  | 4,642 |  | 13,099 |  | 4,008 |  | 1,103 |  | (420) |  | 85,483
Identifiable liabilities (a) |  | 18,110 |  | 4,089 |  | 6,201 |  | 2,364 |  | 4,051 |  | (275) |  | 34,540
| (a) |  | Include assets/liabilities directly associated with the generation of operating profit.
Segment Information
|  |  |  |  |  | Refining & |  | Eni gas e luce |  | Corporate |  | Adjustments |  |
|  | Exploration & |  | Global Gas & |  | Marketing |  | Power & |  | and Other |  | of intragroup |  |
(€ million) |  | Production |  | LNG Portfolio |  | and Chemicals |  | Renewables |  | activities |  | profits |  | Tota l
2020 |  |  |  |  |  |  |  |  |  |  |  |  |  |
Sales from operations including intersegment sales |  | 13,590 |  | 7,051 |  | 25,340 |  | 7,536 |  | 1,559 |  |  |  |
Less: intersegment sales |  | (7,231) |  | (1,689) |  | (403) |  | (401) |  | (1,365) |  |  |  |
Sales from operations |  | 6,359 |  | 5,362 |  | 24,937 |  | 7,135 |  | 194 |  |  |  | 43,987
Operating profit |  | (610) |  | (332) |  | (2,463) |  | 660 |  | (563) |  | 33 |  | (3,275)
Net provisions for contingencies |  | 98 |  | 64 |  | 118 |  | (2) |  | 26 |  | 45 |  | 349
Depreciation and amortization |  | (6,273) |  | (125) |  | (575) |  | (217) |  | (146) |  | 32 |  | (7,304)
Impairments of tangible and intangible assets and right-of-use assets |  | (2,170) |  | (2) |  | (1,605) |  | (56) |  | (22) |  |  |  | (3,855)
Reversals of tangible and intangible assets |  | 282 |  |  |  | 334 |  | 55 |  | 1 |  |  |  | 672
Write-off of tangible and intangible assets |  | (322) |  |  |  |  |  | (7) |  |  |  |  |  | (329)
Share of profit (loss) of equity-accounted investments |  | (980) |  | (15) |  | (363) |  | 6 |  | (381) |  |  |  | (1,733)
Identifiable assets (a) |  | 59,439 |  | 4,020 |  | 10,716 |  | 4,387 |  | 1,444 |  | (402) |  | 79,604
Unallocated assets (b) |  |  |  |  |  |  |  |  |  |  |  |  |  | 30,044
Equity-accounted investments |  | 2,680 |  | 259 |  | 2,605 |  | 217 |  | 988 |  |  |  | 6,749
Identifiable liabilities (a) |  | 17,501 |  | 3,785 |  | 5,460 |  | 2,426 |  | 3,316 |  | (83) |  | 32,405
Unallocated liabilities (b) |  |  |  |  |  |  |  |  |  |  |  |  |  | 39,750
Capital expenditure in tangible and intangible assets and prepaid right-of-use assets |  | 3,472 |  | 11 |  | 771 |  | 293 |  | 107 |  | (10) |  | 4,644
2019 |  |  |  |  |  |  |  |  |  |  |  |  |  |
Sales from operations including intersegment sales |  | 23,572 |  | 11,779 |  | 42,360 |  | 8,448 |  | 1,676 |  |  |  |
Less: intersegment sales |  | (13,073) |  | (2,549) |  | (384) |  | (476) |  | (1,472) |  |  |  |
Sales from operations |  | 10,499 |  | 9,230 |  | 41,976 |  | 7,972 |  | 204 |  |  |  | 69,881
Operating profit |  | 7,417 |  | 431 |  | (682) |  | 74 |  | (688) |  | (120) |  | 6,432
Net provisions for contingencies |  | 97 |  | 234 |  | 276 |  | (5) |  | 307 |  | (51) |  | 858
Depreciation and amortization |  | (7,060) |  | (124) |  | (620) |  | (190) |  | (144) |  | 32 |  | (8,106)
Impairments of tangible and intangible assets and right-of-use assets |  | (1,347) |  |  |  | (1,127) |  | (83) |  | (13) |  |  |  | (2,570)
Reversals of tangible and intangible assets |  | 130 |  | 5 |  | 205 |  | 41 |  | 1 |  |  |  | 382
Write-off of tangible and intangible assets |  | (292) |  |  |  | (6) |  | (1) |  | (1) |  |  |  | (300)
Share of profit (loss) of equity-accounted investments |  | 7 |  | (21) |  | (63) |  | 10 |  | (21) |  |  |  | (88)
Identifiable assets (a) |  | 68,915 |  | 4,092 |  | 13,569 |  | 4,068 |  | 1,643 |  | (492) |  | 91,795
Unallocated assets (b) |  |  |  |  |  |  |  |  |  |  |  |  |  | 31,645
Equity-accounted investments |  | 4,108 |  | 346 |  | 3,107 |  | 141 |  | 1,333 |  |  |  | 9,035
Identifiable liabilities (a) |  | 20,164 |  | 3,836 |  | 6,272 |  | 2,380 |  | 3,890 |  | (141) |  | 36,401
Unallocated liabilities (b) |  |  |  |  |  |  |  |  |  |  |  |  |  | 39,139
Capital expenditure in tangible and intangible assets and prepaid right-of-use assets |  | 6,996 |  | 15 |  | 933 |  | 357 |  | 89 |  | (14) |  | 8,376
2018 |  |  |  |  |  |  |  |  |  |  |  |  |  |
Sales from operations including intersegment sales |  | 25,744 |  | 14,807 |  | 46,483 |  | 8,218 |  | 1,588 |  |  |  |
Less: intersegment sales |  | (15,801) |  | (2,876) |  | (395) |  | (534) |  | (1,412) |  |  |  |
Sales from operations |  | 9,943 |  | 11,931 |  | 46,088 |  | 7,684 |  | 176 |  |  |  | 75,822
Operating profit |  | 10,214 |  | 387 |  | (501) |  | 340 |  | (668) |  | 211 |  | 9,983
Net provisions for contingencies |  | 235 |  | 53 |  | 274 |  |  |  | 579 |  | (21) |  | 1,120
Depreciation and amortization |  | (6,152) |  | (226) |  | (399) |  | (182) |  | (59) |  | 30 |  | (6,988)
Impairments of tangible and intangible assets |  | (1,025) |  | (6) |  | (193) |  | (50) |  | (18) |  |  |  | (1,292)
Reversals of tangible and intangible assets |  | 299 |  | 79 |  |  |  | 48 |  |  |  |  |  | 426
Write-off of tangible and intangible assets |  | (97) |  | (1) |  | (2) |  |  |  |  |  |  |  | (100)
Share of profit (loss) of equity-accounted investments |  | 158 |  | (2) |  | (67) |  | 11 |  | (168) |  |  |  | (68)
Identifiable assets (a) |  | 63,051 |  | 4,642 |  | 13,099 |  | 4,008 |  | 1,103 |  | (420) |  | 85,483
Unallocated assets (b) |  |  |  |  |  |  |  |  |  |  |  |  |  | 32,890
Equity-accounted investments |  | 4,972 |  | 355 |  | 275 |  | 139 |  | 1,303 |  |  |  | 7,044
Identifiable liabilities (a) |  | 18,110 |  | 4,089 |  | 6,201 |  | 2,364 |  | 4,051 |  | (275) |  | 34,540
Unallocated liabilities (b) |  |  |  |  |  |  |  |  |  |  |  |  |  | 32,760
Capital expenditure in tangible and intangible assets |  | 7,901 |  | 26 |  | 877 |  | 238 |  | 94 |  | (17) |  | 9,119
| (a) |  | Include assets/liabilities directly associated with the generation of operating profit.
| (b) |  | Include assets/liabilities not directly associated with the generation of operating profit.
Financial information by geographical area Identifiable assets and investments by geographical area of origin
|  |  |  | Other |  |  |  |  |  |  |  |  |  |  |  |
|  |  |  | European |  | Rest of |  |  |  |  |  |  |  | Other |  |
(€ million) |  | Italy |  | Union |  | Europe |  | Americas |  | Asia |  | Africa |  | areas |  | Total
2020 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Identifiable assets(a) |  | 17,228 |  | 4,159 |  | 3,174 |  | 4,485 |  | 16,360 |  | 33,341 |  | 857 |  | 79,604
Capital expenditure in tangible and intangible assets and prepaid right-of-use assets |  | 1,198 |  | 152 |  | 119 |  | 441 |  | 1,267 |  | 1,443 |  | 24 |  | 4,644
2019 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Identifiable assets(a) |  | 19,346 |  | 7,237 |  | 1,151 |  | 5,230 |  | 17,898 |  | 40,021 |  | 912 |  | 91,795
Capital expenditure in tangible and intangible assets and prepaid right-of-use assets |  | 1,402 |  | 306 |  | 9 |  | 1,017 |  | 1,685 |  | 3,902 |  | 55 |  | 8,376
2018 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Identifiable assets(a) |  | 18,646 |  | 7,086 |  | 1,031 |  | 4,546 |  | 16,910 |  | 36,155 |  | 1,109 |  | 85,483
Capital expenditure in tangible and intangible assets |  | 1,424 |  | 267 |  | 538 |  | 534 |  | 1,782 |  | 4,533 |  | 41 |  | 9,119
(a) Include assets directly associated with the generation of operating profit. Sales from operations by geographical area of destination
(€ million) |  | 2020 |  | 2019 |  | 2018
Italy |  | 14,717 |  | 23,312 |  | 25,279
Other European Union |  | 9,508 |  | 18,567 |  | 20,408
Rest of Europe |  | 8,191 |  | 6,931 |  | 7,052
Americas |  | 2,426 |  | 3,842 |  | 5,051
Asia |  | 4,182 |  | 8,102 |  | 9,585
Africa |  | 4,842 |  | 8,998 |  | 8,246
Other areas |  | 121 |  | 129 |  | 201
|  | 43,987 |  | 69,881 |  | 75,822
Following the exit from the European Union in 2020, revenues relating to the United Kingdom of €4,410 million for 2020 are included in the geographical area “Rest of Europe” while €6,856 million for 2019 and €6,286 million for 2018 are included in the geographical area “European Union”.

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