Romania's Romgaz net profit down 59.6% y/y in Q4

Kitco Media
By Reuters
Published:
Updated:
Reuters
BUCHAREST, Feb 28 (Reuters) - Romanian state-owned gas producer Romgaz
* Says recorded a net profit of 306.7 million lei ($66.03 million) in the fourth quarter, down 59.6% on the year, driven largely by higher taxes.


* Says EBITDA was 629.8 million lei, down 42.9% on the year in the fourth quarter.


* Says its revenue rose 8.96% in the fourth quarter to 2.57 billion lei and 128.6% overall in 2022 to 13.38 billion lei.
* Says it produced an estimated 4,936 million m3 natural gas in 2022, down 1.84% on the year. Gas sales rose 124.6% on the year to 11.33 billion lei.
* Says its electricity production rose by 73.5% on the year in 2022.


* Says royalty tax, gas and power windfall taxes and solidarity contributions amounted to roughly 63% of its revenue in 2022.
Further company coverage: ($1 = 4.6448 lei) (Reporting by Luiza Ilie)

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