ENI SPA current report, Q4 FY2025

ENI S.p.A. Form 6-K Summary

Business Context and Reporting Period

This Form 6-K filing by ENI S.p.A. reports on the execution of its treasury share buyback program. The report covers the specific trading period from November 25, 2025, to November 28, 2025. The filing was signed on December 3, 2025, by Paola Mariani, Head of Corporate Secretary's Staff Office.

Key Financial Metrics

The filing details the following metrics regarding the share repurchase activity:

  • Shares Acquired (Period): 2,514,082 shares (0.08% of share capital).
  • Total Consideration (Period): €39,999,999.45.
  • Weighted Average Price (Period): €15.9104 per share.
  • Cumulative Shares Acquired (Since May 20, 2025): 84,135,905 shares (2.67% of share capital).
  • Cumulative Consideration (Since May 20, 2025): €1,230,047,827.67.
  • Total Treasury Shares Held: 170,963,919 shares (5.43% of share capital), including shares acquired under the buyback program and those granted free of charge to executives and employees.

Material Changes and Daily Activity

The filing provides a daily breakdown of the repurchase activity during the reporting period:

Date Quantity Weighted Avg. Price (€) Amount (€)
25/11/2025 665,000 15.7571 10,478,487.46
26/11/2025 597,000 15.9441 9,518,612.18
27/11/2025 619,000 15.9127 9,849,938.40
28/11/2025 633,082 16.0374 10,152,961.41

The filing includes an extensive appendix listing individual transaction timestamps, quantities, and execution prices for every trade executed on the Euronext Milan exchange during these four days.

Guidance, Outlook, and Risks

The filing does not contain forward-looking guidance, management commentary on operational performance, or specific risk factors. It is a regulatory disclosure strictly limited to the reporting of share repurchase transactions as required by applicable legislation and the program approved by the Shareholders' Meeting on May 14, 2025.

Investor Verification Checklist

  • Verify the total number of treasury shares held (5.43% of capital) against the company's latest capital structure filings.
  • Confirm the remaining authorization limit for the buyback program approved on May 14, 2025, to assess future repurchase capacity.
  • Review the cumulative spend of over €1.23 billion to evaluate the company's capital allocation strategy relative to its cash flow.
  • Check the weighted average price of €15.91 against the prevailing market price to assess the efficiency of the buyback execution.