Romgaz says its net profit was down 18 percent in first semester due to pandemic

The operational and financial performances of the Romgaz Group achieved in the first semester of 2020 are at high levels, even if they register decreases compared to the previous periods, the company today announced.

The consumption of natural gas at national level in the first 6 months of 2020 it registered a slight increase compared to the similar period of the previous year (approx. 1.7%), while the deliveries of Romgaz decreased by 16% due to high consumption of imported gases. Thus, Romgaz’s market share on the Romanian gas supply market is 36.6%, 7.8% lower than the share held in the same period last year (44.4%).

Natural gas production was 2,245.7 million cubic meters, 454.3 million cubic meters less than the production achieved in the similar period of the previous year (-16.8%) and 415.1 million cubic meters less than the scheduled one (-15.6%).

Romgaz’s electricity production was 295.23 GWh, being higher by 123.57 GWh than the one achieved in the similar period of 2019 (+ 71.9%).

Total revenues are lower by 679.1 million RON, registering a decrease of 23.3% while total expenditures decreased by 26.8%.

The net profit obtained is 175.1 million RON, lower than the one registered in the previous period due to the pandemic (-17.9%).