Romgaz reports net consolidated profit of 463.8 million RON in Q1

Romgaz Group recorded in Q1 2021 a revenue of 1.3 billion RON, decreasing by 7.21 percent, namely 103.1 million RON, as compared to the revenue recorded in Q1 2020.

Romgaz supplied in Q1 2021 gas quantities higher by 14.12 percent than in Q1 2020. In 2021, Romgaz Group collected part of the receivables impaired at the end of 2020, that led to a net gain from impairment adjustments of 31.6 million RON.

Expenses with windfall tax decreased as compared to Q1 2020 by 63.9 million RON. The Group recorded in Q1 2021 an additional provision for purchase of greenhouse gas emissions certificates of 67.3 million RON, due to the increase of certificate price as compared to the estimation made in December 2020.

Net consolidated profit of 463.8 million RON was lower by 18.91 percent, namely 108.2 million RON, versus the similar period of the previous year. Net consolidated earnings per share (EPS) was RON 1.2.

The achieved margins of the consolidated net profit (34.9 percent), consolidated EBIT (41.3 percent) and consolidated EBITDA (52.4 percent) decreased slightly as compared to Q1 2020 (40.0 percent; 46.8 percent and 57.0 percent respectively) but maintains a high rate.

Natural gas consumption estimated nationally for Q1 2021 was 49 TWh, approximately by 6 percent higher than the consumption recorded in Q1 2020. Natural gas production was RON 1,311.5 million m3 , by 3.7 percent, namely 50.8 million m3 below the production recorded in Q1 2020. Electricity supplied was of 185.8 GWh, by 22.67 percent lower than for the similar period of last year (240.3 GWh). Electricity production reached 202.1 GWh, by 21.96 percent lower than production in the similar period of last year (258.9 GWh), the difference against the electricity supplied into the National Power Grid represents own consumption of the power plant.