Transgaz reports estimated 2015 net profit of 487.7 million lei

Romania’s Transgaz national gas transmission corporation is estimated to record a 2015 net profit of 487.75 million lei, down 3 percent from 2014, according to unaudited financial reports posted by the company on the Bucharest Stock Exchange (BVB) website on Monday.

Operating revenue levelled out at 1.65 billion lei from the year before, while financial revenue was up 30 percent, to 43.237 million lei.

Transgaz’s total revenue in 2015 advanced 1 percent from 2014, reaching 1.69 billion lei.

The company’s total operating costs were up 1 percent (1.069 billion lei), while financial costs surged 55 percent, to 22.315 million lei.

The total costs reached 13.876 billion lei in 2015, up 1 percent from 2014.

Transgaz’s 2015 net profit is estimated at 487.75 million lei, down 3 percent from 2014’s 502.51 million lei. Compared with the results as of December 31, 2014, the estimated 2015 gross profit should be down 1 percent, to 3.31 million lei.

Transgaz is the technical operator of Romania’s national natural gas transmission system.

Transgaz’s shareholdership as of June 2015 was made up of: 58.5097 percent – the Romanian Government via the Ministry of Economy (6,888,840 shares), 41.4903 percent free float (4,885,004 shares, of which 8.1757 percent individual investors – 962,596 shares and 33.3146 percent corporate investors – 3.922.408 shares).

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