Romanian gas distributor Transgaz’ turnover up 10% in 2013

Romanian gas distribution company Transgaz reported a turnover of RON 1.55 billion (some EUR 351 million) in 2013, up 10 percent from the RON 1.42 billion (EUR 319 million) in the previous year, mainly due to higher tariffs, according to the company’s preliminary results. The company’s net profit went slightly up to RON 336 million (around EUR 76.1 million) in 2013, from RON 329 million (almost EUR 74 million) in 2012. Transgaz’s expenses also increased 10 percent year-on-year in 2013, to RON 1.12 billion (EUR 253 million). According to the company, the preliminary financial results for 2013 are unaudited and were reported in accordance with International Financial Reporting Standards. Transgaz is a Romanian state-owned company listed on the Bucharest Stock Exchange under the symbol TGN. Irina Popescu, irina.popescu@romania-insider.com (photo source: sxc.hu)