v3.26.1
CONSOLIDATED STATEMENT OF CASH FLOWS - EUR (€)
€ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Statement      
Profit € 2,758 € 2,764 € 4,860
Adjustments to reconcile profit (loss) to net cash provided by operating activities      
Depreciation and amortization 7,349 7,600 7,479
Net impairments (reversals) of tangible, intangible and right-of-use assets 1,582 2,900 1,802
Write-off of tangible and intangible assets 33 580 535
Share of (profit) loss of equity-accounted investments (1,161) (866) (1,336)
Net gain on disposal of assets (99) (601) (441)
Dividend income (242) (227) (255)
Interest income (444) (497) (517)
Interest expense 1,256 1,245 1,000
Income taxes 3,020 3,725 5,368
Other changes (515) (158) (700)
Cash flow from changes in working capital 2,735 1,286 1,811
- inventories 916 68 1,792
- trade receivables 3,214 1,145 3,322
- trade payables (835) 110 (4,823)
- provisions (554) (87) 97
- other assets and liabilities (6) 50 1,423
Change in the provisions for employee benefits (79) (105) 1
Dividends received 1,785 1,946 2,255
Interest received 358 456 459
Interest paid (1,269) (1,130) (919)
Income taxes paid, net of tax receivables received (3,737) (5,826) (6,283)
Net cash provided by operating activities 13,330 13,092 15,119
Cash flow from investing activities (9,999) (11,782) (12,404)
- tangible assets (8,702) (7,999) (8,739)
- prepaid right-of-use assets   (5)  
- intangible assets (527) (486) (476)
- consolidated subsidiaries and businesses net of cash and cash equivalents acquired (196) (1,795) (1,277)
- investments (682) (798) (1,315)
- securities and financing receivables held for operating purposes (89) (185) (388)
- change in payables in relation to investing activities 197 (514) (209)
Cash flow from disposals 2,040 2,496 845
- tangible assets 1,414 1,354 122
- intangible assets 4 21 32
- consolidated subsidiaries and businesses net of cash and cash equivalents disposed of 118 887 395
- investments 135 526 47
- securities and financing receivables held for operating purposes 98 69 32
- change in receivables in relation to disposals 271 (361) 217
Net change in securities and financing receivables held for non-operating purposes (1,339) (531) 2,194
Net cash used in investing activities (9,298) (9,817) (9,365)
Increase in long-term financial debt 1,884 3,516 4,971
Repayments of long-term financial debt (4,163) (4,748) (3,161)
Payments of lease liabilities (1,250) (1,205) (963)
Increase (decrease) in short-term financial debt (276) (61) (1,495)
Dividends paid to Eni's shareholders (3,080) (3,068) (3,046)
Dividends paid to non-controlling interest (277) (45) (36)
Capital contribution (reimbursement) by non-controlling interests 709 589 (16)
Sale (purchase) of additional interests in consolidated subsidiaries 5,072   (60)
Other contributions 9 14  
Purchase of treasury shares (1,896) (2,012) (1,803)
Effect of issuance of convertible bonds     79
Net issuance (repayment) of perpetual subordinated bonds (18) 1,778  
Coupon payment on perpetual subordinated bonds (310) (138) (138)
Net cash used in financing activities (3,596) (5,380) (5,668)
Effect of exchange rate changes and other changes on cash and cash equivalents (198) 83 (62)
Net increase (decrease) in cash and cash equivalents 238 (2,022) 24
Cash and cash equivalents - beginning of the year 8,183 10,205 10,181
Cash and cash equivalents - end of the year 8,421 8,183 10,205
Related parties      
Adjustments to reconcile profit (loss) to net cash provided by operating activities      
Net cash provided by operating activities (11,375) (11,508) (7,011)
Net cash used in investing activities (3,181) (3,140) (1,695)
Net cash used in financing activities (407) (20) (162)
Effect of exchange rate changes and other changes on cash and cash equivalents   (3) (7)
Net increase (decrease) in cash and cash equivalents € (14,963) € (14,671) € (8,875)