[Report] European Utilities Key Player Profiles: ENI TOC

DATAMONITOR VIEW
- CATALYST
- SUMMARY
- METHODOLOGY
ANALYSIS
- European Utilities Key Player Profile: ENI
- Datamonitor' s Key Player Scorecard examines 31 leading utilities drawn from across Europe' s competitive arenas
  - Key Players dominate power generation capacity market share in the Wmed competitive arena
  - Key Players dominate power generation output market share in the Wmed and CEE competitive arenas
  - Despite ongoing industry consolidation, in no competitive arenas do Key Players dominate power supply volume market share
  - Despite ongoing industry consolidation, in no competitive arenas do Key Players dominate gas volume market share
- The Key Player Scorecard assesses utilities across four pillars: Performance, Scale, Growth and Exposure
  - The Performance pillar combines 5 financial metrics to measure business performance
  - The Scale pillar combines financial and operational metrics to measure the size of a utility
  - The Growth pillar measures the rate of growth of a utility' s financial and energy resources
  - The Exposure pillar combines both operational and financial measurements of risk
- ENI scores 50.1/100 on Datamonitor' s European Utility Scorecard and ranks 2 out of the 31 Key Players covered
  - ENI scores well above average in the four pillars
  - ENI achieves an overall ranking of 2, with a utility score of 50.1
  - Only on the Exposure pillar does ENI score below the Key player average
  - ENI is among the best financial performers, with only a slightly higher than average level of risk
  - Compared to its top ten utility peers, ENI has average Growth yet scores highly on Scale
- ENI scores highly on return on investment and return on fixed assets, lifting its Performance ranking to 7
  - ENI' s overall financial Performance score of 14.5 outperforms the Key Player average of 10.9
  - ENI offers a better return on fixed assets than most of its top ten utility peers
  - ENI significantly exceeds the Key Player average on return on investment
- ENI has the highest Key Player revenue, contributing to a Scale ranking of 3
  - ENI outperforms the Key Player average on the Scale pillar, with a ranking of 3
  - In generation capacity ENI ranks 20, with 5 GW
  - Though integrated, ENI is decidedly more focused on gas than power (921 TWh and 37 TWh in supply volume, respectively)
  - ENI has a negligible share of Key Player power customers
  - At 37 TWh, ENI ranks 18 in terms of power volume
  - ENI has a 6% share of Key Player gas customers
  - ENI has a 8.4% share of EU25 gas supply volume
  - ENI ranks 1 in revenue and 2 in net income
- ENI' s rank of 2 in power supply growth contributes to its overall Growth pillar rank of 7
  - ENI has a near-top ranking on power supply volume growth
  - ENI' s price earnings ratio of 11 is below the Key Player average, despite high operating profit margins
  - ENI saw annual profit growth of 2.5% lag revenue growth of 8.4% between 2001 and 2005
  - From 2004-2005, ENI' s gas supply volume growth of 7.1% lagged operating cash flow growth of 19.5%
- ENI' s Exposure ranking of 4 reflects operational rather than financial risk
  - ENI' s Exposure metrics fluctuate well above and below Key Player averages
  - ENI has a short position in both its power and gas NTR of 37.7% and 57.8%, respectively
  - ENI has a negative (short) power NTR of 36,620 GW
  - ENI' s is lightly leveraged, with a debt to equity ratio of only 19.5%
  - ENI ranks 5 of the 31 Key Players in terms of debt leverage
  - ENI' s energy volume growth of 9.6% was outpaced by a 19.5% growth in cash flow
- ENI has gas sales in many European countries, yet they are concentrated in the company' s Italian home market
  - Italy is ENI' s primary gas supply market
  - ENI has a negligible share of Key Player power customers, all of whom are located in Italy
  - ENI has a 6% share of Key Player gas customers
APPENDIX
- Databook
- Definitions
- Definitions
- Datamonitor Consulting
- List of Tables
  - Table 1: The Key Players are drawn from across a diverse range of markets
  - Table 2: The Performance pillar combines 5 financial metrics to measure business performance
  - Table 3: The Scale pillar combines financial and operational metrics to measure the size of a utility
  - Table 4: The Growth pillar measures the rate of growth of a utility' s financial and energy resources
  - Table 5: The Exposure pillar combines both operational and financial measurements of risk
  - Table 6: ENI scores 50.1/100 on Datamonitor' s European Utility Scorecard and ranks 2 out of the 31 Key Players covered
  - Table 7: ENI scores 14.5/25 on the Performance pillar, and ranks 7 out of 31 on this measurement
  - Table 8: ENI scores 13.6/25 on the Scale pillar, and ranks 3 out of 31 on this measurement
  - Table 9: ENI scores 9.8/25 on the Growth pillar, and ranks 7 out of 31 on this measurement
  - Table 10: ENI scores 12.2/25 on the Exposure pillar, and ranks 4 out of 31 on this measurement
  - Table 11: ENI scores highly on return on investment and return on fixed assets, lifting its Performance ranking to 7
  - Table 12: ENI has the highest Key Player revenue, contributing to a Scale ranking of 3
  - Table 13: ENI' s rank of 2 in power supply growth contributes to its overall Growth pillar rank of 7
  - Table 14: ENI' s Exposure ranking of 4 reflects operational rather than financial risk
  - Table 15: Return on fixed assets
  - Table 16: Return on sales
  - Table 17: Operating profit margin
  - Table 18: Return on energy volume
  - Table 19: Return on investment
  - Table 20: Generation Capacity / EU25 market total
  - Table 21: Power Supply Volume / EU25 market total
  - Table 22: Gas Supply Volume / EU25 market total
  - Table 23: Net income / Net income of 94 leading utilities
  - Table 24: Revenue / Revenue of 94 leading utilities
  - Table 25: Revenue growth, 2001-2005 CAGR
  - Table 26: Profit growth, 2001-2005 CAGR
  - Table 27: Growth in operating cash flow, 2004 to 2005
  - Table 28: Gas supply volume growth, 2004-2005
  - Table 29: Growth in power supply volume, 2004 to 2005
  - Table 30: Power NTR / Power supply volume
  - Table 31: Gas NTR / Gas supply volume
  - Table 32: Debt leverage
  - Table 33: Growth in operational cash flow - Growth in energy volume
- List of Figures
  - Figure 1: Datamonitor' s Key Player Scorecard examines 31 leading utilities drawn from across Europe' s competitive arenas
  - Figure 2: Key Players dominate power generation capacity market share in the Wmed competitive arena
  - Figure 3: Key Players dominate power generation output market share in the Wmed and CEE competitive arenas
  - Figure 4: Despite ongoing industry consolidation, in no competitive arenas do Key Players dominate power supply volume market share
  - Figure 5: Despite ongoing industry consolidation, in no competitive arenas do Key Players dominate gas volume market share
  - Figure 6: ENI achieves an overall ranking of 2, with a utility score of 50.1
  - Figure 7: Only on the Exposure pillar does ENI score below the Key player average
  - Figure 8: ENI is among the best financial performers, with only a slightly higher than average level of risk
  - Figure 9: Compared to its top ten utility peers, ENI has average Growth yet scores highly on Scale
  - Figure 10: ENI' s overall financial Performance score of 14.5 outperforms the Key Player average of 10.9
  - Figure 11: ENI offers a better return on fixed assets than most of its top ten utility peers
  - Figure 12: ENI significantly exceeds the Key Player average on return on investment
  - Figure 13: ENI outperforms the Key Player average on the Scale pillar, with a ranking of 3
  - Figure 14: In generation capacity ENI ranks 20, with 5 GW
  - Figure 15: Though integrated, ENI is decidedly more focused on gas than power (921 TWh and 37 TWh in supply volume, respectively)
  - Figure 16: ENI has a negligible share of Key Player power customers
  - Figure 17: At 37 TWh, ENI ranks 18 in terms of power volume
  - Figure 18: ENI has a 6% share of Key Player gas customers
  - Figure 19: ENI has a 8.4% share of EU25 gas supply volume
  - Figure 20: ENI ranks 1 in revenue and 2 in net income
  - Figure 21: ENI has a near-top ranking on power supply volume growth
  - Figure 22: ENI' s price earnings ratio of 11 is below the Key Player average, despite high operating profit margins
  - Figure 23: ENI saw annual profit growth of 2.5% lag revenue growth of 8.4% between 2001 and 2005
  - Figure 24: From 2004-2005, ENI' s gas supply volume growth of 7.1% lagged operating cash flow growth of 19.5%
  - Figure 25: ENI' s Exposure metrics fluctuate well above and below Key Player averages
  - Figure 26: ENI has a short position in both its power and gas NTR of 37.7% and 57.8%, respectively
  - Figure 27: ENI has a negative (short) power NTR of 36,620 GW
  - Figure 28: ENI' s is lightly leveraged, with a debt to equity ratio of only 19.5%
  - Figure 29: ENI ranks 5 of the 31 Key Players in terms of debt leverage
  - Figure 30: ENI' s energy volume growth of 9.6% was outpaced by a 19.5% growth in cash flow
  - Figure 31: Italy is ENI' s primary gas supply market
  - Figure 32: ENI has a negligible share of Key Player power customers, all of whom are located in Italy
  - Figure 33: ENI has a 6% share of Key Player gas customers

European Utilities Key Player Profiles: ENI

Table of Contents