Romanian gas producer Romgaz sees lower sales and lower profit in Q1
Romanian state-controlled gas producer Romgaz (SNG) recorded a 7.2% drop in revenues in the first quarter of 2021 compared to the similar period of 2020 to RON 1.33 bln (EUR 270 mln). The net profit went down by 18.9% year-on-year to RON 464 mln (EUR 94.3 mln).
The company’s gas production was 3.7% lower than in Q1 2020 while the electricity production went down 22%. The first quarter report can be found here.
Romgaz’s shares were not influenced by the report. Since the beginning of this year, the SNG shares are up 17.4% (as of May 14), close to the 18% increase of the BET index.
(Photo source: the company)