State-owned Romgaz Medias, the biggest gas producer in Romania, recorded revenues of RON 2.47 billion (EUR 531 million) in the first half of this year, up 3.4% compared to the same period of 2017.

The company’s net profit, however, dropped by 10% to RON 797 million (EUR 171 million) as the expenses increased by 18%, to RON 1.5 billion (EUR 322 million). The bottom line was mainly influenced by higher royalties the company had to pay starting February.

Romgaz is one of the most valuable companies controlled by the Romanian state, with a market capitalization of EUR 2.67 billion. The state holds a 70% stake in the company, with the remaining 30% being controlled by investors on the Bucharest Stock Exchange.

editor@romania-insider.com