Romanian natural gas group Romgaz posts lower profit in Jan-Sep
State-controlled company Romgaz, one of the two major gas producers in Romania, with operations in the power sector as well, posted a net profit of RON 941.9 mln (EUR 200 mln) in the first nine months of the year, 20.5% lower compared to…
Andrei Chirileasa · Journalist
· Updated · 1 min read
State-controlled company Romgaz, one of the two major gas producers in Romania, with operations in the power sector as well, posted a net profit of RON 941.9 mln (EUR 200 mln) in the first nine months of the year, 20.5% lower compared to the same period last year.
The company's business decreased by 23%, to RON 2.91 billion (EUR 600 mln). Still, the profitability ratios remained robust.
The consolidated net profit margin (32.28%), consolidated EBIT (36.71%), and consolidated EBITDA (51.64%) are relatively similar to those recorded in the nine months ended September 30, 2019 (31.3%, 36%, and 51.7% respectively) and show the group's profitability, even under adverse circumstances.
Natural gas production reached 3.2 billion cubic meters, 19% lower than the production recorded in the same period of 2019.
Electricity production in the first nine months of 2020 was 617.9 GWh, 111.5% higher than in the similar period of 2019.
(Photo source: Facebook/Romgaz)
