Transgaz's net profit grows 5.7% to EUR44.7 million

Transgaz Medias (ticker: TGN) said its net profit for nine months ending September 30 grew 5.7% to 189.3 million lei (€44.7 million) from the same period of last year, on 4% increase in turnover.

For the year-ago period, Transgaz Medias reported net earnings of 179.07 million lei.

The company’s turnover grew 4% on a yearly basis in the period under review, to 806.15 million lei (€190.58 million) from 774.34 million lei.

The company booked revenues of 865.3 million lei (€204.56 million), 7% above year-ago levels, while expenses jumped 6.6% to 639.1 million lei (€151.08 million).

In the first three quarters of last year, Transgaz said its revenues totaled 809.6 million lei and costs 599 million lei.

The state-owned gas operator has a share capital of 117.74 million lei, divided into 11.77 million shares of a face value of 10 lei each.

The state has a controlling stake in the gas company of 73.5% while Fondul Proprietatea has maintained its equity position at 15%. The remaining 11.5% is made up of free-float shares traded at Bucharest Stock Exchange.

The market value of Transgaz is 1.74 billion lei (€404.7 million), according to yesterday’s closing quote of 148 lei.

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