Eni S.p.A (E) Q1 2020 Earnings Call Transcript [The Motley Fool]
Morgan Stanley (MS)
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Image source: The Motley Fool.Eni S.p.A(NYSE:EApr , 006:00 a.m. ETContents::OperatorGood afternoon, ladies and gentlemen, and welcome to Eni's First Quarter 00 Results Conference Call hosted by Mr. Claudio Descalzi, Chief Executive Officer. [Operator Instructions]. I am now handing you over to your host to begin today's conference call. Thank you.Thank you. Good afternoon and welcome to Eni's 00 update and Q results. We are going through unprecedented times, with the recent collapse in the commodity prices caused by the twin factors of COVID-9 pandemic and supply glut. In facing these scenario, Eni is stronger than it was in the last downturn in 0; because in the past six years, we have transformed the company into a leaner and more efficient organization, with a robust upstream, and structured mid downstream and a solid balance sheet. Overall, these actions, coupled with the cost and capex reductions have more than halved our all-in cash neutrality, while reducing our net debt.Today,
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