Romania’s Transgaz reports EUR 92 mln profit in 2011 on higher quantities of transported gas

Romanian national gas distribution company Transgaz reported a preliminary net profit of around EUR 92.4 million (RON 392 million) in 2011, up 4.2 percent compared to the profit posted in 2010. The company’s turnover also went up by 2.7 percent in 2011 over the previous year, to EUR 306 million (RON 1.3 billion).

The total revenues had a year-on-year increase of 6.51 percent in 2011 to EUR 330 million (RON 1.4 billion), mainly due to a higher quantity of gas transported. The company’s total expenses also went up by 7.19 percent in 2011 over the previous year, to some EUR 233 million. The main shareholders in Transgaz are the Economy Ministry, with 73.5 percent of the shares, while the Fondul Proprietatea owns a 14.98 percent share package. Transgaz is listed on the Bucharest Stock Exchange, where its shares are trading at RON 248. The value of its shares went up steady since September last year, from a minimum of RON 171 per share. Irina Popescu, irina.popescu@romania-insider.com