Romgaz net profit reached 1.9 billion RON, up 52 percent in 2021

Romgaz announces a preliminary net profit of 1.9 billion RON in 2021, increasing by 52 percent compared to 2020.

Natural gas production estimated for 2021 was 5,028.5 mil.m3, by 508.8 mil.m3 higher than the production of the previous year (+11.3 percent).

Preliminary revenue for 2021: RON 5.85 billion (2020: RON 4.07 billion), higher by 43,63 percent, influenced by the following factors:

Quantity of natural gas sold (including gas purchased for resale) is 12.7 percent higher in 2021 as compared to 2020. Estimated revenue from natural gas sales for 2021 is RON 5.04 billion, increasing by 52.41 percent as compared to the previous year;

In Q4 2021, revenue from natural gas sales increased by 101.81 percent as compared to the previous quarter (+17.15 percent quantitatively), and by 120.62 percent as compared to Q4 2020 (-15.64 percent quantitatively);

In 2021 storage activities recorded a decrease by 30.64 percent of the revenue at group level, following 32.3 percent lower capacity reservation services (RON -91.18 million) and a decrease by 31.48 percent (RON -15.53 million) of injection services. As for Depogaz, revenue from these services decreased by 6.14 percent;

Revenue from electricity sales increased by 69.9 percent as compared to last year (RON +132.31 million) against a 31.7 percent drop in production as compared to last year. This revenue is due to the high prices on centralised markets where the Group is active;

In 2021, an income of RON 114.7 million was generated by executing the performance guarantee related to the works contract for development of CTE Iernut by building a new 430 MW power plant with combined cycle gas turbine concluded between S.N.G.N. Romgaz S.A. and the Consortium consisting of Duro Felguera S.A. and Romelectro S.A.;

Romgaz won in court a litigation against ANAF (National Agency for Fiscal Administration) for the annulment of a fiscal inspection report related to an inspection carried out between December 2016 – April 2017, which led to the recognition of an income of RON 28.02 million from releasing to income the impairment set up for such receivable;