Profit of Romanian gas company Romgaz more than doubles YoY in Q1
Even if it sold a 17% lower amount of gas in Q1 this year compared to the same period of 2021, and its production decreased by 0.3% YoY, Romgaz (BVB_ SNG), a producer and supplier of natural gas controlled by the Romanian state, reported record financial results in the first three months of the year amid unprecedented price increases in the energy market.
The consolidated net profit of Romgaz Group increased by 111% YoY to RON 980 mln (EUR 196 mln) in the first quarter of the year, according to the financial results sent to investors, Wall-street.ro reported.
The consolidated net profit per share was RON 2.5, for a price of RON 43.25 per share on May 13.
The company's turnover amounted to RON 3.93 bln, being 196% - or nearly three times - higher compared to the one achieved in the first three months of 2021.
The bright results were in line with expectations.
(Photo source: Facebook/Romgaz)