Romgaz Medias records higher revenues but lower net profit

Romgaz Medias records higher revenues but lower net profit

State-owned (70%) Romgaz Medias, the largest natural gas producer and the main supplier in Romania that ever since 2013, it became also electric power supplier as it extended its scope of work by taking over the Iernut thermoelectric power station, recorded higher revenues in the first half of 2018 compared to the same period of 2017.

Meanwhile, its net profit dropped by 10% due to increased expenses.

In numbers, the company recorded revenues of RON 2.47 billion (EUR 531 million), up 3.4% compared to the same period of 2017 while the net profit dropped to RON 797 million (EUR 171 million) because of the 18% increased expenses, to RON 1.5 billion (EUR 322 million).

“The bottom line was mainly influenced by higher royalties the company had to pay starting February”, romania-insider.com reports…. / IBNA