Acasă » Oil&Gas » Transgaz: Net profit higher by 109% (934 mln. lei), compared to the level assumed in the 2017-2021 Management Plan

Transgaz: Net profit higher by 109% (934 mln. lei), compared to the level assumed in the 2017-2021 Management Plan

5 August 2022
Oil&Gas
energynomics

Transgaz recorded, in the period 2017-2021, a 111% higher gross profit (1,133 million lei) and a 109% higher net profit (934 million lei), compared to the level assumed in the 2017-2021 Management Plan.

The operating revenues of Transgaz achieved are higher than those assumed by the Management Plan for this period, by 7%, respectively by 495 million lei, according to the annual financial statements, approved by the company’s shareholders, it is stated in the Preface of the White Paper of the Transgaz administration in period 2017-2021, according to financialintelligence.ro.

The expenditures incurred by Transgaz in the period 2017-2021 were reduced by 8%, respectively by 507 million lei compared to the level assumed by the Management Plan for the same period.

Transgaz officials claim: “It is important to stress the fact that the Transgaz management managed to achieve these remarkable results, at the expense of the constraints of the context in which the company operates and carries out its activity.”

According to the document, general director Ion Sterian implemented an opened general management, focused on objectives such as: strategic redefinition of the company, managerial redesign, organizational discipline, responsible and efficient execution of duties, technical-operational measures of organizational intervention.

The Transgaz management, selected in accordance with the provisions of GEO no. 109/2011 regarding the corporate governance of public enterprises, has undertaken an ambitious investment plan, estimated at 3.2 billion euro, so that in the next 10 years, the National System of Transport (SNT) natural gas, to meet the requirements of the European Green Agreement for the modernization and adaptation of the existing natural gas transport infrastructure for the use of hydrogen and other green gases with a view to decarbonization, the development of research activity on the possibility of accepting the hydrogen mix in and ways of introducing it into the NTS.

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