Profit of Romania's natural gas group Romgaz up 4.8% y/y in January-September
<p>The Romanian natural gas group Romgaz (BVB: SNG) announced that it obtained a net profit of almost RON 2.3 billion (EUR 460 million) in the first nine months of this year, 4.8% more compared to last year, according to a note sent to investors.</p>

<p>The company's total revenues dropped by 16.3% y/y to RON 6.13 billion, particularly on the natural gas side, where the supplies contracted by 4.5% y/y and the price plunged, resulting in a 21.3% lower turnover (RON 4.65 billion).</p>

<p>Romgaz's market capitalization reached RON 21.6 billion (EUR 4.3 billion) after the price of its shares rose by 14.5% y/y. The company distributed dividends from last year's profit, resulting in a 2.6% yield.</p>

<p>Romgaz produced 3.67 billion cubic metres of natural gas in the period, 4.5% more than in the same period of 2023.</p>

<p>The natural gas production increased, driven by the completion of the investment works for the expansion of the productive infrastructure, which allowed the production of 7 new wells, reactivating a significant number of wells through specific investment works in the wells and optimising the exploitation of wells with the highest productive potential.</p>

<p>Romgaz's total deliveries on the domestic market (4.5% down y/y) represented 51.6% of the estimated national consumption of 70.4TWh (+1.4% y/y), 3.3% less than in the same period last year. At the same time, deliveries of natural gas from domestic production to the Romanian market by Romgaz represented 64.3% of the national consumption covered by gas from domestic production.</p>

<p>The estimated national gas consumption for the reporting period was 70.41 TWh, approximately 1.7% higher than that recorded in the similar period from 2023, of which approx. 13.87 TWh was covered with imported gas and the difference of 56.54 TWh with domestic gas.</p>

<p>Romgaz also produced 729,675 GWh of electricity, 13.75% more compared to the same period last year.</p>

<p><em>iulian@romania-insider.com</em></p>

<p><em>(Photo source: Facebook/Romgaz)</em></p>