Romgaz reported a net profit of 941 million lei in nine months, down 20%

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Romgaz Group registered in the first 9 months of 2020 a turnover of 2.9 billion lei, down by 23.01%, respectively 872.4 million lei, compared to the one achieved in the first 9 months of 2019, according to the financial data presented by the company, quoted by e-nergia.ro.

The net profit of 941.9 million lei was lower by 20.52%, respectively by 243.2 million lei, compared to the similar period of last year.

The margins of consolidated net profit (32.28%), consolidated EBIT (36.71%) and consolidated EBITDA (51.64%) are relatively similar to those recorded in the nine-month period ending September 30 and show a continued group profitability, even in the conditions in which the turnover registered a decrease, the company also shows.

Natural gas production was of 3.19 billion cubic meters, being 19.0%, respectively 751.8 million cubic meters below that recorded at 9 months in 2019.

The amount of electricity produced in the first 9 months of 2020 was of 617.87 GWh, 111.5% higher than the same period of last year.

Total revenues are lower by 922.4 million lei, registering a decrease of 23.5% while total expenditures decreased by 25.1%, mainly due to the decrease of expenses related to royalties and additional income tax.

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