State-owned gas transporter Transgaz Medias recorded a 30% drop in net profit in the first half of this year compared to the same period of 2017, to RON 279 million (EUR 60 million).

The company’s turnover declined by 14%, to RON 883 million (EUR 190 million).

The revenues from the domestic gas transport activity dropped by 19% year-on-year and the revenues from international gas transit also went down by 8.5% as the transported gas volumes were lower.

The state holds a 58.5% stake in Transgaz with the remaining 41.5% held by investors on the Bucharest Stock Exchange. The company has a market capitalization of EUR 843 million.

editor@romania-insider.com