Italy’s Eni extends chemicals operating loss in Q1 on macro headwinds

SINGAPORE (ICIS)–Eni’s chemical business reported an adjusted operating loss of €243 million in the first quarter of 2025 on a continuing downturn in the European chemical sector amid economic headwinds and pressures from US and Asian players, the Italy-headquartered producer said on Thursday.

Chemicals

€ million	Q1 2025	Q1 2024
Proforma adjusted EBIT	– 334	– 53

Eni’s chemicals business is managed by Versalis.

Sales of chemical products fell by 7% year on year in the first quarter amid lower demand and plant shutdowns.

Plant utilization rates averaged 54% year on year in the first quarter, a 5% drop from the same period last year.

Margins remained weak across the board as commodity prices could not offset feedstock and energy input expenses, “due to European headwinds, sluggish economic activity, and competitive pressures from players with better cost structures”, the company said.