Romania: Engie’s profit increased in the first half of this year

The French group Engie, the majority shareholder of one of the two companies that dominate the natural gas distribution and supply industry in Romania, has gained a half-yearly profit on the local market, as the low temperatures in the first months of the year reflected in the increase in delivered volumes.

Engie Romania, controlled by the French group, holding a 51% stake in the company, is alongside E.ON one of the main players in the gas distribution industry on the local market. The company distributes natural gas to 1.6 million customers through 19,000-kilometer distribution networks in 19 counties in southern Romania and Bucharest.

In the first half of this year, EBITDA earned by the French group in Romania increased by 13 million Euro compared to the same period in 2016 (equivalent to about 16%) to 96 million, according to the French group’s financial report.

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