Segment information

Eni’s segmental reporting reflects the Group’s operating segments, whose results are regularly reviewed by the Chief Operating Decision Maker (the CEO) to assess segment performance and to make decisions about resources to be allocated to each segment.

The organization is based on two 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 incorporates the Company’s oil&gas exploration, development and production activities, natural gas wholesale via pipeline and LNG, forests conservation (REDD+) and CO₂ storage projects.
Energy Evolution, focused on the evolution of the businesses of power generation, transformation and marketing of products from fossil to bio and blue. The responsibility of this Department include the growth of power generation from renewable energy and biomethane, the coordination of the bio and circular evolution of the Company’s refining system and chemical business, and the development of Eni’s retail portfolio, providing increasingly more decarbonized products for mobility, household consumption and small enterprises. The General Department incorporates 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), Eni Rewind (environmental activities) and Eni Plenitude, in their current structure, are consolidated in this General Department.

In relation to financial reporting purposes, 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 via 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.
Plenitude & Power: retail sales of gas, electricity and related services, production and wholesale sales of electricity from thermoelectric and renewable plants, services for E-mobility. 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.

Segment Information

(€ million)	Exploration & Production		Global Gas & LNG Portfolio		Refining & Marketing and Chemicals		Plenitude & Power		Corporate and Other activities		Adjustments of intragroup profits		Total
2022
Sales from operations including intersegment sales	31,200		48,586		59,178		20,883		1,879
Less: intersegment sales	(18,304	)	(7,356	)	(708	)	(1,157	)	(1,689	)
Sales from operations	12,896		41,230		58,470		19,726		190				132,512
Operating profit	15,908		3,730		460		(825	)	(1,901	)	138		17,510
Net provisions for contingencies	(147	)	(393	)	(1,110	)	(14	)	(1,340	)	19		(2,985	)
Depreciation and amortization	(6,018	)	(217	)	(506	)	(358	)	(139	)	33		(7,205	)
Impairments of tangible and intangible assets and right-of-use assets	(613	)	(6	)	(752	)	(125	)	(71	)			(1,567	)
Reversals of tangible and intangible assets and right-of-use assets	181		18		35		162		31				427
Write-off of tangible and intangible assets and right-of-use assets	(596	)	(1	)	(2	)							(599	)
Share of profit (loss) of equity-accounted investments	1,526		4		446		(20	)	(115	)			1,841
Identifiable assets ^(a)	60,473		12,282		14,925		11,987		1,491		(472	)	100,686
Unallocated assets ^(b)													51,444
Equity-accounted investments	7,314		1		3,084		663		1,030				12,092
Identifiable liabilities ^(a)	17,385		12,572		9,011		4,787		4,416		(68)		48,103
Unallocated liabilities ^(b)													48,797
Capital expenditure in tangible and intangible assets	6,362		23		878		631		166		(4)		8,056
2021
Sales from operations including intersegment sales	21,742		20,843		40,374		11,187		1,698
Less: intersegment sales	(12,896	)	(3,870	)	(323	)	(670	)	(1,510	)
Sales from operations	8,846		16,973		40,051		10,517		188				76,575
Operating profit	10,066		899		45		2,355		(816	)	(208	)	12,341
Net provisions for contingencies	(221	)	(139	)	(137	)	(1	)	(186	)	(23	)	(707	)
Depreciation and amortization	(5,976	)	(174	)	(512	)	(286	)	(148	)	33		(7,063	)
Impairments of tangible and intangible assets and right-of-use assets	(194	)	(28	)	(1,342	)	(132	)	(27	)			(1,723	)
Reversals of tangible and intangible assets	1,438		2				112		4				1,556
Write-off of tangible and intangible assets	(384	)			(2	)	(1	)					(387	)
Share of profit (loss) of equity-accounted investments	8				(333	)			(766	)			(1,091	)
Identifiable assets ^(a)	61,753		10,022		13,326		8,343		1,439		(591	)	94,292
Unallocated assets ^(b)													43,473
Equity-accounted investments	2,639		17		2,366		667		198				5,887
Identifiable liabilities ^(a)	17,046		10,072		6,796		3,786		3,338		(49	)	40,989
Unallocated liabilities ^(b)													52,257
Capital expenditure in tangible and intangible assets	3,861		19		728		443		187		(4	)	5,234
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	3,472		11		771		293		107		(10	)	4,644

^(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.

Information by geographical area

Identifiable assets and investments by geographical area of origin

(€ million)	Italy	Other European Union	Rest of Europe	Americas	Asia	Africa	Other areas	Total
2022
Identifiable assets ^(a)	29,195	7,689	6,564	8,892	18,653	28,167	1,526	100,686
Capital expenditure in tangible and intangible assets	1,475	415	205	1,266	1,390	3,163	142	8,056
2021
Identifiable assets ^(a)	23,718	6,902	6,114	5,718	17,483	33,499	858	94,292
Capital expenditure in tangible and intangible assets	1,333	199	202	659	1,203	1,604	34	5,234
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	1,198	152	119	441	1,267	1,443	24	4,644

^(a) Include assets directly associated with the generation of operating profit.

Sales from operations by geographical area of destination

€ million)	2022	2021	2020
Italy	60,090	29,968	14,717
Other European Union	25,413	14,671	9,508
Rest of Europe	21,748	12,470	8,191
Americas	6,929	4,420	2,426
Asia	9,062	7,891	4,182
Africa	9,191	7,040	4,842
Other areas	79	115	121
	132,512	76,575	43,987