State-controlled natural gas company Romgaz reported that its gas production rose by 12.1% and own gas deliveries to market by 22.7% in January-June this year compared to the same period last year. Still, its revenues edged up only by 2.6% to RON 2.25 bln and the net profit contracted by 4.9% to RON 762 mln.

The figures are consistent with still very robust profitability ratios.

The company’s natural gas production for the first half of 2021 was 2,519 mln cubic meters, 12.2% more compared to the similar period of last year.

Romgaz natural gas deliveries increased by 23.7%, and the company’s market share in terms of deliveries from internal production rose by 8.6 pp to 53%.

Its electricity production reached 203.1 GW, 31.2% less compared to the same period of 2020. This production placed Romgaz at a market share of 0.67%.

Consolidated net profit per share (EPS) was RON 2.0. The margins for the consolidated net profit (33.8%), consolidated EBIT (38.9%), and consolidated EBITDA (52.7%) are slightly decreasing as compared to the first half of 2020 (36.5%; 42.0 and 55.3% respectively) but remain at a high level.

andrei@romania-insider.com

(Photo source: Facebook/Romgaz)