Romgaz’s turnover decreased by 16.5% in Q1, profit increased

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The Romgaz Group registered in the first quarter of 2020 (Q1) a turnover of 1,430.3 million lei, decreasing by 16.51%, respectively 282.8 million lei, compared to the one achieved in the first quarter of 2019.

The net profit of 571.9 million lei was higher by 5.54%, respectively 30.1 million lei, compared to the similar period of the previous year.

The consolidated net profit per share (EPS) was of 1.5 lei. The margins of consolidated net profit (40.0%), consolidated EBIT (46.8%) and consolidated EBITDA (56.1%) are increasing compared to Q1 2019 (31.6%; 36.8% and 52 respectively, 2%) and shows an improvement in the Group’s activity, even if the turnover registered a decrease. The estimated national gas consumption for Q1 2020 was of 45.85 TWh, approximately 3.7% lower than in Q1 2019.

The natural gas production was of 1,362.3 million cubic meters, being 4.7%, respectively 67.7 million cubic meters below the one registered in Q1 2019.

The amount of electricity sent to the grid was of 240.2 GWh, 54.17% higher than the same period last year (155.8 GWh). The amount of electricity produced was 258.9 GWh in Q1 2020, 51.5% higher than the same period last year (170.8 GWh), the difference compared to the energy sent to the grid representing the technological consumption of the thermal power plant .

“The high temperatures of this winter, as well as the unique economic situation caused by the pandemic have diminished certain financial results. We live in times when we adapt and think of development strategies to face the challenges that await us,” said Adrian Volintiru, Romgaz’s general manager.

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