6 Mai 2009
Romgaz posts net profit down 31% in Q1
The net profit of Romania's state-owned gas company Romgaz dipped 31 percent to 208.6 million lei in the first quarter of the year compared to the similar period of 2008, on a drop in sales and consumption, NewsIn informs.
Turnover in the first three months amounted to 951.8 million lei, 11.6 percent down on the previous year.
Customers' back payments hiked 35 percent on March 2008 due to financial distress, summing up to 361.6 million lei.
Romgaz has an annual consumption of 100-120 MW. It is mainly owned by the Ministry of Economy and deals with extracting and depositing natural gas. It produces annually about a third of the country’s required gas.
The company reported an output of 5.850 billion cubic meters of gas last year, down 0.75 percent on the 5.894 billion cubic meters gas production in 2007.
Customers' back payments hiked 35 percent on March 2008 due to financial distress, summing up to 361.6 million lei.
Romgaz has an annual consumption of 100-120 MW. It is mainly owned by the Ministry of Economy and deals with extracting and depositing natural gas. It produces annually about a third of the country’s required gas.
The company reported an output of 5.850 billion cubic meters of gas last year, down 0.75 percent on the 5.894 billion cubic meters gas production in 2007.