Romgaz reports net profit of 3.2 billion RON, up 14.5 percent in 2024

The consolidated net profit of the Romgaz Group was 3,219.43 million RON in 2024, higher by 14.48 percent, or 407.32 million RON, compared to the same period of the previous year, a significant positive influence having the elimination of the solidarity contribution starting with 2024 (in the fourth quarter of 2023, it was worth 1,687.37 million RON), according to a report submitted to the Bucharest Stock Exchange.

The estimated natural gas production for 2024 was 4,962.7 million cubic meters, 174.2 million cubic meters higher than the production achieved in the previous year (+3.64 percent).

Total revenues, of 8.5 billion RON, are lower in 2024 by 1,066.9 million RON, registering a decrease of 11.1 percent, as a result of the following factors:

– a 15.23 percent decrease in turnover from the sale of natural gas (6,584.09 million RON in 2024 compared to 7,766.97 million RON in the previous year), mainly due to the decrease in prices. In terms of quantity, deliveries were 1.03 percent higher compared to 2023;

– the turnover from the sale of electricity also registered a decrease (375.54 million RON in 2024 compared to 406.98 million RON in the previous year);

– the turnover related to storage services recorded an increase of 3.31 percent (570.46 million RON in 2024, compared to 552.19 million RON in 2023), because of the increase in consolidated revenues from capacity booking and those from extraction.

The increase in total expenditures in 2024 was 8.75 percent (398.26 million RON), to 4.9 billion RON. Expenditure on taxes and duties recorded a significant increase compared to the previous similar period, of 330.4 million RON (+22.10 percent).