Romania: Romgaz reports EUR 113.8 M net profit in Q1 2019. Up 16%

Romgaz Group recorded in Q1 2019 a revenue of EUR 359.77 M, increasing 15.57% compared to Q1 2018. Net profit reached EUR 113.8 M, higher by 16.26%, compared to the same period of 2018. Net earnings per share (EPS) was EUR 0.29.

The achievement of the consolidated net profit margin (31.6%, consolidated EBIT margin (36.8%) and consolidated EBITDA margin (52.2%), show that the high profitability of the Group is maintained.

Natural gas production increased by 4.8%, 65.9 million cubic meters respectively, from 1364.1 MCM in Q1 2018 to 1430 MCM in Q1 2019.

Due to the fact that the power units are unavailable during the works performed at the new power plant, the electricity delivered decreased by 42.11% compared to the similar period in 2018 (170.8 GWh vs. 287.3 GWh).

The natural gas consumption estimated at national level for Q1 2019 was 48.5 TWh, down by 3% compared to Q1 2018. Approximately 9.33 TWh was covered by import gas and the remaining 39.2 TWh by domestic production, to which Romgas contributed with 17.63 TWh, representing 36.36% of the national consumption. The company’s market share decreased by 2.7% as compared to Q1 2018.

 

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