National Gas Company Romgaz posted a consolidated net profit of RON 1.837 billion for H1, 8.99 percent or RON 151.57 million higher year-over-year, shows a report sent on Wednesday to the Bucharest Stock Exchange.
According to the cited source, a positive influence on this result came from the cancellation, starting from 2024, of the solidarity contribution (in H1 2023 this amounted to RON 970.92 million).
The company's total revenues decreased by RON 1.013 billion in H1 2024 (-19.38 percent) due to lower revenues from natural gas sales (RON 3.25 billion, as to RON 4.28 billion in the year-ago period), and to a decline in revenues from electricity sales (RON 180.27 million in H1 2024 as compared to RON 200.40 million in H1 2023).
Also, revenues from storage services dipped 3.7 percent from RON 287.29 million in H1 2023 to RON 276.65 million in H1 2024, mainly as a result of a decrease in income from capacity booking and from injection services.
Total expenses in H1 2024 were by 7.86 percent down (RON -174.9 million) year-over-year, mainly due to the reduced windfall tax for natural gas (RON -256.86 million).
National Gas Company Romgaz is Romania's largest gas producer and supplier, the main segments of the Group's activity being gas exploration, production and supply, gas storage and the production of electricity. The company is traded on the Bucharest Stock Exchange (BVB) and on the London Stock Exchange (LSE).
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