Romgaz posts a net profit of 1.02 billion RON in the first nine months of 2018

Romania's natural gas company Romgaz posted a net profit of 1.02 billion RON in the first nine months of 2018, a decrease of 14 per cent compared to the year-ago period. Total revenue stood at 3.4 billion RON, up 6.3 per cent.

2018-11-15 13:55:01

During the first 9 months of 2018, the national gas consumption registered a decrease of approx. 1.84 per cent reported to the similar period of the previous year. Romgaz deliveries remained at the level of the previous year, dropping only by 0.28 per cent from 42.91 TWh to 42.79 TWh, with the specification that during the same period in 2017 the deliveries recorded an increase of approx. 35 per cent from 31.86 to 42.91 TWH as compared to the same period of 2016. As a result, in terms of delivery market in Romania, Romgaz market share reached 48.96 per cent during the first 9 months, by 0.77 per cent higher than the share of the previous period (48.19 per cent).

The natural gas production was of 3,922 million m3, with 171 million m3 higher than the production recorded during the same period in the previous year (+4.6 per cent) and with 61 million m3 higher than planned (+1.5 per cent).

According to estimations, with this production, Romgaz had a market share of 53.54 per cent from the gas consumption from internal production, 1.77 per cent increase in relation to the share owned during the previous period (51.77 per cent).

Romgaz electricity production of 284.4 GWh decreased compared to the similar period of 2017 (465.8 GWh). With this production Romgaz owns a market share of 1.89 per cent.

Confirming the previous trend, in Q3 2018 the Group recorded an increase of the revenue but, as the expenses grew at a higher rate than the income, for reasons stated hereinafter, the profitability indicators as well as the ones derived from them registered a subunit evolution.