Romania's Romgaz net profit edges 1.0% lower y/y in Q1

Kitco Media
By Reuters
Published:
Updated:
Reuters
BUCHAREST, May 12 (Reuters) - Romanian state-owned gas producer Romgaz
* Says recorded a net profit of 970 million lei in the first quarter, down 1.0% on the year, driven by a slight drop in deliveries and an additional solidarity tax.


* Says EBITDA was 1.88 billion lei, up 53.5% on the year in the first quarter.


* Says its revenue fell 25.9% in the first quarter to 2.9 billion lei.


* Says it produced 1,237 million m3 natural gas in the first quarter, down 5.4% on the year.


* Says it produced 323 Gwh worth of electricity, down 6.5% on the year.


* Says estimated domestic gas consumption for the first quarter at 38.72 TWh, down 12% on the year. Of the total, 35.48 TWh were produced domestically and 3.24 TWh were imported.
* Says paid tax on additional income and royalty tax worth 623 million lei in the first quarter, down from 2.3 billion lei in the same period of last year, driven by government changes made to tax provisions.
Further company coverage: ($1 = 4.7537 lei) (Reporting by Luiza Ilie)

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.