Romanian gas producer Romgaz sees higher profit despite revenue decline
<p class="MsoNormal">Romanian state-controlled gas producer Romgaz (BVB: <a href="https://www.bvb.ro/FinancialInstruments/Details/FinancialInstrumentsDetails.aspx?s=SNG">SNG</a>) <a href="https://www.bvb.ro/infocont/infocont25/SNG_20250227192622_2024-Preliminary-financial-results.pdf">reported a net profit of RON 3.22 bln</a> (EUR 647 mln) in 2024, up 14.5% compared with the previous year.<o:p></o:p></p>

<p>The company’s revenues went down by 11.9% to RON 7.93 bln (EUR 1.6 bln) because of lower gas prices and lower revenues from electricity sales. The operating expenses increased by 8.7% year-on-year, to RON 4.95 bln.<o:p></o:p></p>

<p>However, Romgaz benefited from the cancellation of the solidarity contribution starting with 2024, which had a significant positive influence on its bottom line.<o:p></o:p></p>

<p>The company’s shares were trading 1% higher on Friday, February 28, after the preliminary results were made public. Since the beginning of this year, the SNG shares have gained 16.5% compared with a 5.5% increase for the BET index.</p>

<p><span lang="EN-US"><o:p><em>editor@romania-insider.com</em></o:p></span></p>

<p><em><span lang="EN-US">(Photo source: the company)</span></em></p>